Mr. Teri McKibbon reports

BIRD CONSTRUCTION ANNOUNCES 50% DIVIDEND INCREASE AND RELEASES 2025-2027 FINANCIAL TARGETS

Bird Construction Inc. will host its 2024 investor day in Toronto on Oct. 9, 2024, starting at 9 a.m. ET. The event, inclusive of formal presentations and a question-and-answer session with the senior leadership team, is expected to conclude at approximately 12 p.m. ET.

Building on the significant growth and enhanced diversification achieved through the company's 2022-to-2024 strategic plan, Teri McKibbon, president and chief executive officer, and Wayne Gingrich, chief financial officer, along with other members of the senior leadership team will present an in-depth overview of Bird's 2025-to-2027 strategic plan, including market outlook, a deeper dive into its operations, capital allocation strategy and long-term financial targets.

In conjunction with Bird's 2024 investor day, the company is releasing certain financial targets for the 2025-to-2027 period, including:

• Organic revenue growth compound annual growth rate (CAGR) range of 10 per cent plus or minus 2 per cent, with 2025 receiving an additional 5-per-cent growth from the full year of Jacob Bros. revenue when compared with 2024;
• Target adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) margin of 8 per cent for full-year 2027;
• Dividend payout ratio of net income target of 33 per cent.

In addition to these targets, Bird's board of directors has approved a 2.33-cent increase in its monthly dividend, effective for the Nov. 29, 2024, dividend, payable on Dec. 20, 2024. The dividend increase follows the board's approval of the 2025-to-2027 strategic plan, which anticipates continued accretion in earnings per share and adjusted EBITDA through 2027.

The increased monthly dividend will be seven cents per share, corresponding to an annual dividend rate of 84 cents per share.

These financial targets and the dividend increase will be discussed in further detail during the event.

"The strategic changes we've made over the past several years have diversified our business, expanded our capabilities and geographical reach, and risk balanced our work program with more collaborative contracting structures. This has allowed Bird to participate in larger portions of multiyear, large-capital-investment projects," said Mr. McKibbon, president and chief executive officer of Bird. "Looking ahead, the business has considerable momentum and is expected to benefit from significant tailwinds stemming from our strategic focus on higher margin and economically resilient sectors. Our 2025-2027 financial targets reflect our continued focus on margin accretion, disciplined project selection and safe, collaborative operational excellence."

Registration for the live webcast for Bird's 2024 investor day is required and can be completed on-line. Following the event, the webcast replay, transcript and presentation materials will be available on Bird's 2024 investor day web page.

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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