NASDAQ: BWMN INFRASTRUCTURE ENGINEERING FOR THE BUILT ENVIRONMENT TRANSPORTATION POWER & UTILITIES ENERGY BUILDINGS & STRUCTURES NATURAL RESOURCES Fireside Chat | Bank of America | December 10, 2024 Bruce Labovitz Chief Financial Officer Safe Harbor Statement Please note that many of the comments made today are considered forward-looking statements under federal securities laws. As described in our filings with the SEC, these statements are subject to numerous risks and uncertainties that could cause future ...

Financial Performance & Growth - Gross Revenue increased from $122 million in 2020 to $427 million in 2024[10] - Net Service Billing grew from $104 million in 2020 to $380 million in 2024[10] - Adjusted EBITDA increased from $14 million in 2020 to $60 million in 2024[10] - Q1 2025 saw a 19% YoY growth in Gross Contract Revenue and 17% YoY growth in Net Service Billing[24] - Adjusted EBITDA for Q1 2025 grew by 20% YoY[24] Backlog & Market Diversification - Gross Backlog increased significantly, reaching $419 million in Q1 2025, compared to $330 million in Q1 2024, a 39% increase[35] - Transportation accounted for 33% and Building Infrastructure for 39% of the Gross Backlog Mix in Q1 2025[35] - Building Infrastructure accounted for 56% of Organic Net Revenue by Market in Q1 2025, with Transportation, Power & Utilities, and Emerging Markets accounting for 19%, 19%, and 6% respectively[30] Capital Allocation & Strategy - Purchased $6.7 million of common stock in Q1 and continued buybacks into Q2 with $5.3 million as of May 2, 2025[38] - The company had 17.2 million shares outstanding on May 2, 2025[38] FY 2025 Guidance - The company projects Net Revenue between $428 million and $440 million and Adjusted EBITDA between $70 million and $76 million for FY 2025[48]

Financial Performance & Growth - Bowman's Gross Revenue increased from $122 million in 2020 to $427 million in 2024[10] - Net Service Billing grew from $104 million in 2020 to $380 million in 2024[10] - Adjusted EBITDA increased from $14 million in 2020 to $60 million in 2024[10] - Adjusted EBITDA Margin, Net increased from 13% in 2020 to 16% in 2024[10] - First Quarter 2025 saw a 19% YoY growth in Gross Contract Revenue and 17% YoY growth in Net Service Billing[24] - First Quarter 2025 Adjusted EBITDA grew by 20% YoY[24] Backlog & Visibility - Gross Backlog has shown consistent growth, reaching $419 million in 1Q25, compared to $330 million in 1Q24, a 39% increase[35] Capital Allocation & Strategy - The company purchased $6.7 million of common stock in Q1 and continued buybacks into Q2 of $5.3 million as of 05/02/25[38] - Bowman has completed 35+ acquisitions since IPO[11] - Since 2021, Bowman has added >$60 million of annualized net service billing from acquisitions each year[44] 2025 Guidance - The FY 2025 Net Revenue guidance is $428 - $440 million and Adjusted EBITDA guidance is $70 - $76 million[48]

Core Insights - Bowman Consulting Group Ltd. has been awarded a $1.5 million contract for a $24 million municipal water system upgrade in Del Norte, Colorado, marking the town's largest water infrastructure project to date [1][2] - The project will replace a water system over 60 years old, addressing issues such as line breaks and rising maintenance costs, and includes significant infrastructure upgrades [3][4] Company Overview - Bowman Consulting has a decade-long relationship with Del Norte, having supported nearly ten local initiatives, including roadway improvements and a downtown beautification initiative [2] - The company emphasizes its experience in water infrastructure as a critical factor in capturing a growing market, with the EPA estimating over $625 billion needed for water infrastructure improvements in the next 20 years [4][5] Strategic Positioning - The project aligns with Bowman's long-term strategy to expand its presence in essential public infrastructure, aiming to generate durable, high-value backlog [3][4] - Bowman's capabilities in managing complex infrastructure projects are highlighted as a strength that supports steady business growth and community benefits [5]

Core Viewpoint - Bowman Consulting Group Ltd. has announced a new share repurchase program authorizing the repurchase of up to $25 million of its common stock over the next 12 months starting June 9, 2025, replacing the previous authorization that ends on June 6, 2025 [1][2]. Group 1: Share Repurchase Program - The new share repurchase program allows the company to buy back shares based on management's discretion, considering factors such as share price, market conditions, and capital allocation priorities [2]. - The repurchase may occur through various means, including open market purchases and privately negotiated transactions, and is subject to applicable securities laws [2]. - The program does not obligate the company to repurchase a specific number of shares and can be suspended or modified at any time without notice [2]. Group 2: Company Overview - Bowman Consulting Group Ltd. is a national provider of technical engineering and program management services, headquartered in Reston, Virginia [3]. - The company employs over 2,400 individuals across 100 locations in the United States, offering a range of services including planning, engineering, geospatial, construction management, and environmental consulting [3]. - Bowman trades on the Nasdaq under the symbol BWMN [3].

Group 1 - Bowman Consulting Group Ltd. will celebrate its 30th anniversary by ringing the Nasdaq Stock Market opening bell on June 9, 2025 [1][2] - The event will feature founder and CEO Gary Bowman, along with the leadership team and employees, highlighting the company's evolution as a trusted provider of engineering services [2][3] - Since its founding in 1995, Bowman has transformed from a small civil engineering firm into a national engineering and project management company, achieving significant growth through geographic and service line expansion, over 35 acquisitions, and a four-fold increase in revenue [3][4] Group 2 - Bowman Consulting is headquartered in Reston, Virginia, and employs over 2,400 people across more than 100 locations in the United States [4] - The company provides a wide range of services including planning, engineering, geospatial, construction management, commissioning, environmental consulting, and land procurement to various regulated end markets [4]

Core Points - Bowman Consulting Group Ltd. held its 2025 Annual Meeting of Stockholders on May 24, 2025, where Gary Bowman and Stephen Riddick were re-elected as directors for three-year terms expiring in 2028 [1] - The Board of Directors decided to separate the roles of chairman and chief executive officer, appointing James Laurito as Chair of the Board while Gary Bowman remains as CEO [2][3] - The appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified by stockholders during the annual meeting [4] Company Governance - James Laurito, who has been an independent director since March 2021, has extensive experience in mergers and acquisitions, strategy, and technology from his previous roles at Fortis, Inc. and Central Hudson Gas & Electric [3] - The Board also appointed Patricia Mulroy as chair of the Compensation Committee, while Stephen Riddick and Raymond Vicks, Jr. will continue to chair the Nominating and Corporate Governance Committee and the Audit Committee, respectively [2][4] Company Overview - Bowman Consulting Group Ltd. is headquartered in Reston, Virginia, and provides engineering services and program management solutions across the United States [5] - The company employs over 2,300 individuals in more than 100 locations, offering a range of services including planning, engineering, geospatial, and environmental consulting [5]

Company Overview - Bowman Consulting Group Ltd. is a national engineering services and program management firm headquartered in Reston, Virginia [1] - The company employs over 2,300 individuals across more than 100 locations in the United States [1] - Bowman provides a wide range of services including planning, engineering, geospatial, construction management, commissioning, environmental consulting, and land procurement [1] Upcoming Investor Conferences - The company will participate in the Stifel 2025 Cross Sector 1x1 Conference on June 3-4 in Boston, MA [2] - Additionally, Bowman will attend the 15th Annual ROTH London Conference from June 24-26 in London, UK [2]

Core Insights - Bowman Consulting Group Ltd. has been awarded a $1.3 million contract for the design and development of ATEC Parkway, a two-mile roadway in Aurora, Colorado, which is part of the larger Aurora Highlands community development [1][2] - The company is managing over $500 million in infrastructure projects in The Aurora Highlands, indicating a strong presence in the Denver metro area [2] - The ATEC Parkway project is the District's first infrastructure initiative, which is expected to facilitate future developments and enhance connectivity within the region [3] Company Overview - Bowman Consulting Group is a national engineering services firm headquartered in Reston, Virginia, with over 2,300 employees across more than 100 locations in the United States [4] - The firm specializes in providing infrastructure, technology, and project management solutions to various regulated end markets [4] - Bowman trades on the Nasdaq under the symbol BWMN, indicating its status as a publicly listed company [4]

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