BrightView Holdings, Inc. (NYSE: BV) William Blair 39 th Annual - PowerPoint PPT Presentation

BrightView Holdings, Inc. (NYSE: BV) William Blair – 39 th Annual Growth Stock Conference June 6, 2019 Inspiring people. Nurturing landscapes.

Disclaimer 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, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. All statements, other tha n statements of historical facts, contained in this presentation, including statements concerning our plans, objectives, goals, beliefs, business strategies, future events, business conditions, results of operations, financial position, business outlook, business trends and other information, may be 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. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other c omparable words. 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 act ual results may vary materially from what is expressed in or indicated by the forward-looking statements. The forward-looking statements speak only as of the date of this presentation, and we undertake no obligation to publicly update or review any forward- looking statement, whether as a result of new information, future developments or otherwise. There are a number of risks, uncertainties and other important factors, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking statements contained in this presentation. Such risks, uncertainties and other important factors that could cause actual results to differ include, among others, the risks, uncertainties and factors set forth under the heading “Business”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere on our Annual Report on Form 10 - K, filed with the Securities and Exchange Commission (the “SEC”) on November 28, 2018. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties. For a more complete description of risks and other uncertainties, please to refer to our Annual Report on Form 10-K as well as to our subsequent filings with the SEC. Included in this presentation are certain non-GAAP financial measures, such as Adjusted EBITDA, designed to supplement, and not substitute, the Company’s financial information presented in accordance with generally accepted accounting principles in the United States (“GAAP”) because management believes such measures are useful to investors. Additional information about these measures and a reconciliation to the nearest GAAP financial measures is provided in the appendix to this presentation. We are not providing a quantitative reconciliation of our financial outlook for Adjusted EBITDA to net income (loss), its corresponding GAAP measure, because the GAAP measure that we exclude from our non-GAAP financial outlook is difficult to reliably predict or estimate without unreasonable effort due to its dependence on future uncertainties. Additionally, information that is currently not available to us could have a potentially unpredictable and potentially significant impact on our future GAAP financial results. 2

Today’s Presenters Andrew Masterman, President and Chief Executive Officer • Joined BrightView in December 2016 • Most recently served as Executive Vice President at Precision Castparts • At Precision Castparts, Andrew also served as President of the Wyman Gordon and Structural Casting divisions • Prior to Precision Castparts, he was President and Chief Executive Officer of North America for ESAB Group • B.A. degree (with distinction) in Political Science from Colorado College and advanced degrees in Engineering, Japanese and Business Administration from the University of Michigan John Feenan, Executive VP and Chief Financial Officer • Joined BrightView in January 2016 • Prior to joining BrightView, John served as CFO of Trinseo • While at Trinseo, he built a best-in-class financial organization leading the company to a public offering in 2014 • He has also served as CFO for other publicly-traded and private equity backed organizations including JMC Steel Company and HB Fuller • B.A. degree in Business and Economics from St. Anselm College and an MBA from the University of North Carolina, Chapel Hill 3

Inspiring people. Nurturing landscapes. Company Overview Cedars-Sinai Medical Center – Los Angeles, CA

BrightView: 70+ Years of Delivering Best-in-Class Service • Founded in 1939 by Theodore Brickman • Founded in 1949 by Burton Sperber • Primarily landscape maintenance and snow • Provider of landscape maintenance and removal services development services • Strong national presence • Strong evergreen market presence Founded in 2014 Large, Highly- Consolidation Industry-Defining, Strong Local Operational Fragmented and Strategy Route-Based Market Presence Improvements Stable Leveraging Services and Brand Driving Strong Addressable Resources and Company Reputation Margins Market Scale 5

We Provide Holistic Solutions Across the Full Spectrum of Maintenance & Development Services Landscape Maintenance Landscape Development Revenues: $0.58B 1 Revenues: $1.77B 1 FY’18 Revenue $2.35B 1 75% of Revenues 25% of Revenues • Commercial landscaping and snow removal services • Landscape architecture and development services for new landscapes / large-scale • Need-based, essential services business redesign projects Commercial Landscaping Snow Removal Business • Expands BrightView’s customer base • • Non-discretionary service Counter-seasonal revenue stream Overview & • Horticultural thought-leadership Highlights • • Predictable recurring revenue Utilizes existing infrastructure • Complex and high-profile projects model • Year-to-year variability, • Broad offering of ancillary modulated around 30-year avg. • Many contracts include ongoing maintenance services snowfall rates upon project completion Selected Services Landscape Snow Tree Care Sweep Disaster Landscape Nursery & Services Services Services Services Irrigation Fertilization Recovery Architecture Tree Moving Pool & Water Sports Fields Selected Customers 1 FY2018 results represent operations during the 12ME 9/30/18. 6

And Offer a Highly Compelling Value Proposition to our Customers Average Local Competitor  Deep local market knowledge  “Strategic partnership” mentality  Lower organizational sophistication Local Market  Professional, empowered and accountable branch managers  Lower consistency of service and quality Presence  Differentiated training and retention of branch staff  Higher employee / crew turnover  Consistent, high-quality execution  Able to serve virtually any customer need  Mostly offering basic services  Expertise in highly technical and complex services  Lacking in depth / horticultural expertise Breadth of Service Offerings  Deep horticultural knowledge base  Customers forced to manage multiple vendors  Ability to self-perform majority of work  Highly trained, collegiate and masters graduates with deep  Smaller scale limits resources to invest in horticultural knowledge base and field experience advanced technological infrastructure  Best-in-class technology and equipment Professional  Less developed Human Resources policies Operating Platform and practices  Comprehensive compliance and safety management programs  Limited employee career opportunities  Sophisticated centralized ERP systems  Fully invested, national platform capable of serving customers  Inability to deliver services nationally across multiple geographies while executing locally  Informal or inexistent process for sharing  Institutionalized best-practices National and implementation of best-practices Scale  Escalation path for local issues to drive collaborative solutions  Limited resources dedicated to support and foster employee development  Significant resources to support local branch operations 7

Our Breadth of Coverage Enables Us to Serve Customers Across the Country National Footprint #1 Player in a ~$67B Market ~10x Next Largest Competitor Strong Margins and Free Cash Flow ~80% Cash Conversion Modest Capex Needs ~2.5% of Revenue States with BrightView Branches Maintenance Location Extended Coverage via Qualified Service Partners Development Location Robust M&A Pipeline Branches Employees 13 companies and more than Key Statistics Evergreen ~65% ~75% $250 million in revenue acquired by Region Seasonal ~35% ~25% since 1/1/17 Total > 200 ~ 20,000 8