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INSPIRING PEOPLE . NURTURING LANDSCAPES . BrightView L Third Quarter 2026 Earnings Call August 5 , 2026 NYSE : BV
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3Q FY2026 Earnings Presentation | 2 Forward Looking Statements This presentation contains “forward-looking statements” within the meaning of the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are subject to the “safe harbor” created by those sections. All statements, other than statements of historical facts included in this presentation, including statements concerning our plans, objectives, goals, beliefs, business outlook, business trends, expectations regarding our industry, strategy, future events, future operations, future liquidity and financial position, future revenues, projected costs, prospects, plans and objectives of management and other information, may be forward-looking statements. Words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “intends,” “plans,” “estimates,” or “anticipates,” and variations of such words or similar expressions are intended to identify forward-looking statements. The forward- looking statements are not historical facts or guarantees of future performance and are based upon our current expectations, beliefs, estimates and projections, and various assumptions, many of which, by their nature, are inherently uncertain and beyond our control. Our expectations, beliefs, and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs and projections will result or be achieved, and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Factors that could cause actual results to differ materially from those projected include, but are not limited to: competitive industry pressures; our ability to preserve long-term customer relationships; a determination by customers to reduce their outsourcing or use of preferred vendors; inconsistent practices and the operating results of individual branches; our ability to implement our business strategies and achieve our growth objectives; impacts of future acquisitions or other strategic transactions; the possibility that costs or difficulties related to the integration of acquired businesses’ operations will be greater than expected and the possibility that integration efforts will disrupt our business and strain management time and resources; the seasonal nature of our landscape maintenance services; our dependence on weather conditions and the impact of severe weather and climate change on our business; any failure to accurately estimate the overall risk, requirements, or costs when we bid on or negotiate contracts that are ultimately awarded to us and, for such contracts, the ability to collect amounts owed under such contracts; the conditions and periodic fluctuations of the new commercial construction sector, as well as spending on repair and upgrade activities; the level, timing and location of snowfall; our ability to retain or hire our executive management and other key personnel; our ability to attract, retain and maintain positive relations with workers; any failure to properly verify employment eligibility of our employees; the liability exposure from our use of subcontractors to perform work under certain customer contracts; our recognition of future impairment charges; laws and governmental regulations, including those relating to employees, wage and hour, immigration, human health, safety, transportation, and the associated financial impact of such regulations; environmental, health and safety laws and regulations, including laws pertaining to the use of pesticides, herbicides and fertilizers, or liabilities thereunder, as well as the related risk of potential litigation, settlements resulting from legal proceedings relating to our business operations; expenses related to allegations, claims, proceedings, judgments or settlements exceeding the amounts of our insurance coverage or estimates of accrued self-insured claims; tax increases and changes in tax rules; any increase in on-job accidents involving employees; any failure, inadequacy, interruption, security failure or breach of our information technology systems; compliance with data privacy regulations; our ability to adequately protect our intellectual property; any adverse consequences of our substantial indebtedness; increases in interest rates governing our variable rate indebtedness increasing the cost of servicing our substantial indebtedness; risks related to counterparty credit worthiness or non-performance of the derivative financial instruments we utilize; restrictions within our debt agreements that limit our flexibility in operating; our ability to generate sufficient cash flow to satisfy our significant debt service obligations; the incurrence of substantially more debt, including off-balance sheet financing, contractual obligations and general and commercial liabilities; any failure to extend credit under our facility or reduce the borrowing base under our Revolving Credit Facility; any future sales, or the perception of future sales, by us or our affiliates, which could cause the market price for our common stock to decline; the ability of KKR and One Rock to exert significant influence over us; anti-takeover provisions in our organizational documents that could delay or prevent a change in control; the authorization of our Board of Directors to issue and designate shares of our preferred stock in additional series without stockholder approval; the fact that the holders of our Series A Preferred Stock may have different interests from and vote their shares in a manner deemed adverse to, holders of our common stock; the dividend, liquidation, and redemption rights of the holders of our Series A Preferred Stock; our certificate of incorporation restricting all stockholder litigation matters to the Court of Chancery of the State of Delaware and the federal district courts of the United States of America; general business, economic, and financial market conditions; increases in raw material costs, fuel prices, wages and other operating costs, and changes in our ability to source adequate supplies and materials in a timely manner; occurrence of natural disasters, terrorist attacks, global health emergencies and other external events; heightened inflation, geopolitical conflicts, recession, financial market disruptions, trade policies and tariffs, and other economic conditions; corporate responsibility matters and/or our reporting of such matters; significant changes in our stock price and its ability for resale; securities analysts’ reports about our business or their downgrade of our stock or sector; maintaining effective internal controls; and costs and requirements imposed as a result of maintaining compliance with the requirements of being a public company. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found under “Item 1A. Risk Factors” in our Form 10-K for the fiscal year ended September 30, 2025, and such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in our filings with the SEC. Any forward-looking statement made in this presentation speaks only as of the date on which it was made. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. Non-GAAP Financial Measures Included in this presentation are certain non-GAAP financial measures, such as " Adjusted EBITDA", "Adjusted EBITDA Margin", "Adjusted Net Income", “’Adjusted Free Cash Flow", Total Financial Debt", "Total Net Financial Debt" and "Total Net Financial Debt to Adjusted EBITDA ratio", designed to complement the financial information presented in accordance with U.S. GAAP because management believes such measures are useful to investors. These non- GAAP financial measures should be considered only as supplemental to financial measures provided in accordance with GAAP. Please refer to the appendix of this presentation for a reconciliation of the historical non-GAAP financial measures included in this presentation to the most directly comparable financial measures prepared in accordance with GAAP. Because GAAP financial measures on a forward-looking basis are not accessible, and reconciling information is not available without unreasonable effort, we have not provided reconciliations for forward-looking non- GAAP measures. For the same reasons we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable and potentially significant impact on our future GAAP financial results. Introductory Information
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3Q FY2026 Earnings Presentation | 3 Executive Summary Dale Asplund | President & Chief Executive Officer
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3Q FY2026 Earnings Presentation | 4 ~700bps ~84.6% +~4% +~2.3% Frontline Turnover Improvement 11 Consecutive Qtrs. TTM Customer Retention +~250bps vs. PY Contract Book Growth from 2Q25 +~100 bps QoQ Land Revenue +~$12M vs. PY Q3 Executive Summary Fifth Consecutive quarter of Land contract book of business growth Second consecutive quarter of Land revenue growth underpinned by solidified foundation Key Operational & Financial Highlights One BrightView strategy continues to drive transformation Key Q3 Metrics Reaffirms midpoint of Land revenue guidance Q3 Adj. EBITDA ~ $96M; includes ~ $20M of non-routine items* * Non-routine items consist of ~ $16M impact from self insurance adjustment and ~ $4M fuel-related headwind. See reconciliation on slide 24
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3Q FY2026 Earnings Presentation | 5 Prioritizing Employees & Delivering for Our Customers Our people-first strategy continues to drive lower front line turnover & higher customer retention TTM Frontline Employee Turnover TTM Land Maintenance Customer Retention Trucks / Mowers PTO Employee Wellness Boots HRIS Flexible Schedules Service Hours Advanced Pay PRIORITIZING OUR EMPLOYEES Improved Communication Reduced Turnover DELIVERING FOR OUR CUSTOMERS Efficient / Unified Consistent & Reliable Service BECOMING THE EMPLOYER OF CHOICE CUSTOMER CENTRIC FOCUS
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3Q FY2026 Earnings Presentation | 6 Improving Retention Across Our Branch Network Customer centric focus driving higher concentration of branches with 85+% retention CUSTOMER CENTRIC FOCUS TTM Customer Retention – Branch Segmentation +10ppt vs. FY24 +15ppt vs. FY24 ~200 Maintenance Branches
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3Q FY2026 Earnings Presentation | 7 Retention Accelerates Profitable Growth Customer retention is directly correlated to growing branches CUSTOMER CENTRIC FOCUS Branches with Higher Retention Have Higher Contract Growth ~200 Maintenance Branches * ~11% of Land Maintenance Contract Revenue below 75% Retention
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3Q FY2026 Earnings Presentation | 8 Contract book growth is catalyst to sustainable recurring revenue growth CONTRACT BOOK GROWTH LAND REVENUE Improved Customer Retention Salesforce Hiring Ramp Growing Net New Sales & Contract Book * Ending Annualized Land Maintenance Contract Values ** Net New Sales = Annualized value of new Land Maintenance contract sales less annualized value of lost Land Maintenance contracts *** Book of Business = Annualized Value of Land Maintenance contracts Growing Net New Driving Momentum in Contract Book
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3Q FY2026 Earnings Presentation | 9 Salesforce investment driving measurable results New sellers ramping productivity and providing runway for profitable growth 0-6 months ~$0 6-12 months ~$0.5M 12-18 months ~$1M 18+ months ~$1.5M Net New Sellers +~200 Since FY24 Contract Book Growth +~4% Since 2Q25 Land Revenue +~$15M YTD Productivity Run-Rate By Tenure** New Contract Sales* +~20% YTD *Annualized value of new Land Maintenance contract sales **New Business Sellers (Land Maintenance Contract Only)
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3Q FY2026 Earnings Presentation | 10 3Q Fuel Impact Update Fuel hedges and operational execution continue to mitigate the impact of elevated prices Fuel Cost ManagementBV Fuel Prices* Mitigating Factors Refreshed Fleet & Technology Newer Fleet & leveraging route-based technology led to ~10% less consumption Fuel Hedges Proactive fuel hedges reduce volatility despite ~20% YoY price increase Daily Pricing ~1/3 Land revenue priced daily via ancillary work Elevated fuel prices remain a headwind, but disciplined execution is reducing the impact on our business *Based on actual usage across BrightView branch network; correlates YoY to Gasprices.AAA.com Fuel Application Routing drivers to lowest cost fuel option
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3Q FY2026 Earnings Presentation | 11 Positioned for continued profitable growth Multiple strategic levers to drive long-term shareholder value Prioritizing Employees Delivering Best In Class Customer Service Unlocking Size & Scale Sustainable Profitable Growth 2024 – 2025: Solidified the Foundation of Our Business Focus for 2026 & Beyond Improved employee turnover Invested G&A savings in front-line employees Improved customer retention Improved communication and service hours Refreshed aging fleet Reduced R&M and rentals expense Centralized procurement Continue accelerating salesforce ramp up Bolster contract business through net new sales Drive further ancillary sales on growing contract book Increase density within existing and adjacent service lines
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3Q FY2026 Earnings Presentation | 12 Financial Review & Outlook Brett Urban | Chief Financial Officer
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3Q FY2026 Earnings Presentation | 13 $MMs 3Q26 3Q25 Commentary Total Revenue $717.6 $708.3 • ~1.3% increase Land $514.5 $502.8 • ~2.3% increase Snow $3.4 $5.9 Total Maintenance Services $517.9 $508.8 • ~1.8% increase Development Services $201.9 $201.3 • ~0.3% increase Totals may not sum due to intercompany eliminations $MMs 3Q26 Revenue
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3Q FY2026 Earnings Presentation | 14 $MMs 3Q26 3Q25 Commentary Total Adjusted EBITDA $96.1 $113.2 Includes ~$20M Non-Routine* Costs Maintenance Services $63.0 $81.7 Includes ~$17M Non-Routine* Costs Development Services $33.1 $31.5 Includes ~$3M Non-Routine* Costs $MMs Minor differences may exist due to rounding 3Q26 Adjusted EBITDA Continued EBITDA growth excluding the impact of fuel & self-insurance adjustment * $20M Non-routine items consist of ~ $16M impact from self insurance adjustment and ~ $4M fuel-related headwind. See reconciliation on slide 24
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3Q FY2026 Earnings Presentation | 15 Self-Insurance Adjustment *TTM Q326 # of claims **Workers Compensation / General Liability / Auto Uptick in claims & undisciplined resolution led to aging old claims Resolving new claims timely Closed out 50% more claims YTD26 vs. prior year Aggressively resolving claims prior to 2024 (~85% closed) Claims prior to 2024 negatively impacted by ~20% (FY24 Q326) Driving Factors Reflects adverse development & resolution of older claims (prior to 2024) - Hired new safety leaders - Drive safety first culture - Deployed cameras in vehicles - Reduced front-line turnover 1 2 3 4
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3Q FY2026 Earnings Presentation | 16 Updating FY 2026 Guidance Adjusted EBITDA Total Revenue Adj. Free Cash Flow1 $2.750B – $2.780B $70M – $80M $340M – $345M Current Guidance 1. Adjusted Free Cash Flow guidance assumes Net CapEx: $165M - $180M, Cash Interest: $55M - $60M, Cash Taxes: ~$5M - $10M, NWC: use of cash to fund growth Reaffirming mid-point of Land revenue Adj. EBITDA Guidance Reconciliation Revenue Assumptions Land ~ +2% to ~ +3% Snow ~$290M Development ~ (5%) to ~ (3%) *Assumes Fiscal 4Q26 fuel impact in-line with Fiscal 3Q26 of ~$4M net impact ~2/3 Annualized Impact
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3Q FY2026 Earnings Presentation | 17 Favorable Debt Structure & Ample Liquidity (1) Includes total cash, cash equivalents and availability under Revolver and A/R facilities less letters of credit as of Jun 30. (2) Includes SOFR Rate of 3.65%; rate reduction of ~25bps on revolver & maintaining the same pricing on the term-loan following a 4-year extension Management of Long-Term Maturity Towers No Long-Term Maturities Until 2033 Liquidity of ~$600M1 Average Cost of Capital: ~5.5%2 Fixed vs Floating Debt Ratio ~75%/25% Successfully Extended our Entire Debt Maturity Profile
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3Q FY2026 Earnings Presentation | 18 2027 Preview Continued transformation & execution of L/T strategy Accelerated momentum in recurring land business (~MSD) Further margin expansion through ops efficiencies / Size & Scale unlock Continued Execution of Our Long-Term Strategy Remained Focused on Sustainable Profitable Growth & Shareholder Value Creation *Excluding fuel impact & non-routine self-insurance adjustment
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3Q FY2026 Earnings Presentation | 19 One BrightView Driving Long-Term Profitable Growth Reaffirming our commitment to Long-Term Growth Targets STRATEGIC CAPITAL ALLOCATION UNLOCKING SIZE AND SCALE BECOMING THE EMPLOYER OF CHOICE CUSTOMER CENTRIC FOCUS ~16%+ Adjusted EBITDA Margins ~40%+ Free Cash Flow Conversion** ~$4B*+ Total Revenue ~$650M*+ Adjusted EBITDA 2030 Aspirational Targets1 1. From 2025 Investor Day * ~$450M+ in M&A Revenue / $65M in M&A EBITDA ** Free Cash Flow Conversion = Adjusted Free Cash Flow / EBITDA $
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3Q FY2026 Earnings Presentation | 20 QUESTIONS & ANSWERS
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3Q FY2026 Earnings Presentation | 21 Appendix
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3Q FY2026 Earnings Presentation | 22 Share Repurchase Summary ~$53M Shares Repurchased of $150M Share Repurchase Authorization Rounded figures, please see latest 10Q & prior filings for details
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3Q FY2026 Earnings Presentation | 23 Revenue Guidance Reconciliation *Amounts may not total due to rounding Land Snow Dev't Total* FY'25 1,680 211 789 2,673 Low-End 2% 39% (5%) 3% High-End 3% 39% (3%) 4% Low-End 1,715 290 750 2,750 High-End 1,730 290 765 2,780 Low-End 2,750 High-End 2,780 FY26 Revenue Guidance RangesImplied MathGuide Land Snow Dev't Total* Q4'25 480 0 224 703 Low-End 3% 0% (3%) 2% High-End 6% 0% 5% 6% Low-End 495 0 218 715 High-End 510 0 235 745 Low-End 15 0 (6) 715 High-End 30 0 10 745 Implied Q4 Revenue Guidance RangesImplied Math Implied $'s
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3Q FY2026 Earnings Presentation | 24 Q3 EBITDA Reconciliation *As reported in Q3’26 Q3'26 Revenue* Q3'26 Adjusted EBITDA* Q3'26 Adjusted Margin* Self- Insurance Adj. Fuel Costs Total Non- Routine Costs EBITDA ex. Non-Routine Costs EBITDA Margin ex. Non-Routine YoY EBITDA $ ex. Non- Routine YoY EBITDA Margin ex. Non-Routine Maintenance Services 518 63 12.2% 13 4 16 79 15.3% (2) (80) bps Development Services 202 33 16.4% 3 0 4 37 18.2% 5 260 bps EBITDA 718 96 13.4% 16 4 20 116 16.2% 3 20 bps Q3 EBITDA Bridge
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3Q FY2026 Earnings Presentation | 25 Non-GAAP to GAAP Reconciliation
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3Q FY2026 Earnings Presentation | 26 Non-GAAP to GAAP Reconciliation (con’t.)
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3Q FY2026 Earnings Presentation | 27 Non-GAAP to GAAP Reconciliation (con’t.)