Mr. Teri McKibbon reports

BIRD ADDS INDUSTRIAL RECURRING REVENUE MASTER SERVICE AGREEMENTS IN ONTARIO AND ALBERTA

Bird Construction Inc. has received a newly awarded task order under the previously announced Port Hope area initiative (PHAI) master construction contract (MCC) by Canadian Nuclear Laboratories (CNL). Bird has also been awarded a multiyear contract for civil works on sites in the Heartland region of Alberta by an undisclosed client. The combined value of the awards is approximately $100-million, to be executed over the next three years.

Under the task order assignment from CNL, Bird will complete engineering investigations, characterization and subsurface drilling of over 400 road allowance sites across Port Hope. This task order falls under Bird's overarching MCC announced in 2022, which includes the opportunity to bid on over $1-billion in environmental remediation work. In addition to the company's existing operations within Port Hope, this task order reinforces Bird's strategic position within the environmental remediation sector as a leading full-life-cycle contractor, positioning Bird for consistent multiyear recurring revenue streams.

Under the new master service agreement in Alberta, the team will be assigned civil services and projects, including earthworks, concrete works, foundations and underground scope. Bird has been engaged on assignments in the region since the 1970s, demonstrating a history of industry-leading expertise and a strong client service approach.

"Bird's standing with clients as a trusted long-term partner for construction services is underscored by the recent multiyear awards, and is an important factor driving our growth and strong performance," noted Teri McKibbon, president and chief executive officer of Bird. "We continue to see robust demand for our industrial and civil services across Canada. Our growing portfolio of recurring revenue [master service agreements], which totalled $1.1-billion at the end of the second quarter of 2023, contributes to our diverse project mix and enhances visibility into our future performance."

About Bird Construction Inc.

Bird is a leading Canadian construction company operating from coast to coast and servicing all of Canada's major markets. Bird provides a comprehensive range of construction services from new construction for industrial, infrastructure and institutional markets to industrial maintenance, repair and operations services, heavy civil construction, and mine support services, as well as vertical infrastructure, including electrical, mechanical and specialty trades. For over 100 years, Bird has been a people-focused company with an unwavering commitment to safety and a high level of service that provides long-term value for all stakeholders.

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