Bridger Aerospace Group Holdings, Inc. · NASDAQ:BAER
Bridger Aerospace — Investor Presentation (August 2026)
21 slides from Bridger Aerospace's investor presentation, August 2026
Slide 1: Bridger Aerospace Investor Presentation
Bridger Aerospace Investor Presentation
Slide 2: Important Disclaimers
Disclaimers Overview Fleet Financials Market Appendix Important Disclaimers This presentation is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. This presentation includes industry, market and third-party data. Bridger Aer
Slide 3: Bridger Aerospace at a Glance
Disclaimers Overview Fleet Financials Market Appendix Bridger Aerospace at a Glance Publicly traded on NASDAQ (BAER) Full-spectrum Aerial Firefighting and Aerospace Services Provider 2025 REVENUE I $122.8M Suppression 65% Modification and Integration 17.5% Surveillance 14% Other 3% 01 02 03 Suppress
Slide 4: Investment Thesis
Disclaimers Overview Fleet Financials Market Appendix Investment Thesis 01 Largest Private Fleet of Super Scoopers: 8 of 12 Owned by U.S. Companies 02 20 Aircraft, Including Industry’s Most Advanced Sensor Planes 03 48% Unmet Demand for Super Scooper Requests in 2025 04 6.9% growth in Aerial Firefig
Slide 5: Bridger's Aerial Firefighting Solutions
Disclaimers Overview Fleet Financials Market Appendix Bridger’s Aerial Firefighting Solutions The Stack The varying altitudes used by aerial firefighting aircraft within the Fire Traffic Area (FTA) are referred to as the ”Stack” • (8) Purpose built DeHavilland • (3) Air Attack (2) Sensor Enhanced Su
Slide 6: Attractive Super Scooper Economics
Disclaimers Overview Fleet Financials Market Appendix Attractive Super Scooper Economics High ROI per Scooper due to aircraft efficiency, market demand and operational expertise AVERAGE MARKET VALUE OF SUPER AVERAGE FIRE YEAR EBITDA AVERAGE SUPER SCOOPER PAYBACK AVERAGE USEFUL LIFE SCOOPER CONTRIBUT
Slide 7: Scooper Increased Revenue and Mix Over Time
Disclaimers Overview Fleet Financials Market Appendix Scooper Increased Revenue and Mix Over Time 2022 2023 2024 2025 2026 OWNED SUPER SCOOPERS 4 6 6 8 8 2x 60 Day x2 EXCLUSIVE USE CONTRACT — 90 Day x2 120 Day x4 160 Day x4 Fleet Revenue 90 Day x2 Over 3 Years 90 Day x2 EXCLUSIVE USE REVENUE % TOTAL
Slide 8: Air Attack and Sensor Enabled Aircraft
Disclaimers Overview Fleet Financials Market Appendix Air Attack and Sensor Enabled Aircraft Bridger leads the industry in Aerial Surveillance In 2026 Bridger debuted its dual-sensor King Air 350 into an expanding market Mission Systems & Software expected to grow at 11% CAGR1 CAPABILITIES INCLUDE:
Slide 9: IGNIS – The Integrated Command Platform
Disclaimers Overview Fleet Financials Market Appendix IGNIS – The Integrated Command Platform Fully integrated cross-platform operating tool that empowers teams on the ground to coordinate faster 01 KEY FEATURES AND CAPABILITES INTEGRATED COMMAND PLATFORM Real-Time Mobile Situational Ground Resource
Slide 10: Bridger Growth Roadmap
Disclaimers Overview Fleet Financials Market Appendix Bridger Growth Roadmap Fleet Contract 01 Expansion 02 Evolution Leader in Revenue 03 Technology 04 Diversification
Slide 11: 2026 Adjusted EBITDA on Track to Grow 20%
Disclaimers Overview Fleet Financials Market Appendix 2026 Adjusted EBITDA on Track to Grow 20% Fleet Growth Helps Drive Revenue and Adjusted EBITDA $ in millions Operational Leverage and Expanded $135- $145 Utilization Contributed to 2025 EBITDA $122.8 Gains $98.6 56% $66.7 $55- $60 $46.4 $45.3 $39
Slide 12: Full Year 2026 Outlook
Disclaimers Overview Fleet Financials Market Appendix Full Year 2026 Outlook $135–$145 million $55–$60 million 20 airplanes Revenue: Adjusted EBITDA: Fleet: Guidance Basis:
Slide 13: Wildfire Trends Increasing
Disclaimers Overview Fleet Financials Market Appendix Wildfire Trends Increasing Yearly trends increasing aviation demand in a market with resource constraints Higher Temperatures Severe Droughts Increased Fuels Record Low Snowpack Private and Confidential Investor Presentation | 13
Slide 14: Wildfire Legislation has become a Federal Priority
Disclaimers Overview Fleet Financials Market Appendix Wildfire Legislation has become a Federal Priority Another Active Wildfire Year: SIGNED INTO LAW IN COMMITTEE Aerial Firefighting Enhancement Act of 2025 Wildfire Response and Preparedness Act of 2025 Escalating Disaster Damage: Soaring Economic
Slide 15: Appendix
entation | 15
Slide 16: Bridger Aerospace History: 10+ Years of Aerial Firefighting
Disclaimers Overview Fleet Financials Market Appendix Bridger Aerospace History: 10+ Years of Aerial Firefighting Over the course of a decade, Bridger has become the leading provider of aerial firefighting solutions in the U.S. 2018 2022 2024 2026 2025 2014 Blackstone Tactical Bridger Aerospace 2023
Slide 17: Management Team: Track Record of Success
Disclaimers Overview Fleet Financials Market Appendix Management Team: Track Record of Success Sam Davis Anne Hayes Bill Andrews Rob Mauracher Justin Mogford CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER CHIEF OPERATING OFFICER EXECUTIVE VP OF GROWTH GENERAL COUNSEL • Joined Bridger Aerospace in 2
Slide 18: Bridger Aerospace Financial Overview – Income Statement
Disclaimers Overview Fleet Financials Market Appendix Bridger Aerospace Financial Overview – Income Statement ($ In Millions) 2021 2022 2023 2024 2025 2026E Fire Suppression $30.4 $38.8 $56.0 $66.8 $79.8 Aerial Surveillance 8.6 7.2 9.7 13.1 17.4 MRO - - - 13.9 21.5 Other (UAS, Maintenance, Admin) 0.
Slide 19: Bridger Aerospace Financial Overview – Balance Sheet
Disclaimers Overview Fleet Financials Market Appendix Bridger Aerospace Financial Overview – Balance Sheet ($ in Millions, FYE 12/31) 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 Assets Current Assets: Cash, Restricted Cash and Marketable Securities $17.3 $97.4 $37.9 $53.1 $31.4 Accounts and Notes R
Slide 20: Reconciliation to GAAP
Disclaimers Overview Fleet Financials Market Appendix Reconciliation to GAAP Twelve months ending, Represents non-cash stock-based compensation expense associated with employee and non-employee equity awards. ($ in Millions) 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 2. Represents expens
Slide 21: Thank You
Thank You
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