Mr. T.L. McKibbon reports

BIRD COMPLETES ACQUISITION OF JACOB BROS CONSTRUCTION

Bird Construction Inc. has successfully completed its previously announced transaction to acquire Jacob Bros. Construction.

"We are very excited to welcome Jacob Bros. into the Bird family, bringing a highly complementary team with shared values and strong leadership that will support our long-term growth strategy," said Teri McKibbon, president and chief executive officer of Bird. "Not only does our combined company immediately add scale and diversification in B.C.'s high-demand infrastructure market but will also enable us to offer more comprehensive solutions as we pursue projects of various size, complexity and scope. We look forward to continuing our strong track record of operational excellence and pursuing the robust opportunities in Western Canada together."

In connection with the closing of the transaction, the company issued 1,490,922 Bird common shares and borrowed $125-million under an available term loan facility in its recently amended syndicated credit facility. The new term loan was used to repay existing term loans and to finance a portion of the acquisition consideration. The new term loan is repaid quarterly at a rate of 10 per cent of the original principal per year.

About Bird Construction Inc.

Bird is a leading Canadian construction and maintenance company operating from coast to coast to coast. Servicing all of Canada's major markets through a collaborative, safety-first approach, Bird provides a comprehensive range of construction services, self-perform capabilities and innovative solutions to the industrial, buildings and infrastructure markets. 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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