INVESTOR PRESENTATION JUNE 2020
FORWARD LOOKING STATEMENT The statements contained in this presentation that are not purely historical are forward-looking statements. Our forward- looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. The information included in this presentation in relation to Atlas has been provided by Atlas and its management team, and forward- looking statements include statements relating to Atlas’ management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward- looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions m ay identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this presentation are based on our current expectations and beliefs concerning future developments and their potential effects on us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: (1) the ability to maintain the listing of the Company’s shares of Class A common stock and warrants on Nasdaq; (2) the ability to recognize the anticipated benefits of the business combination or acquisitions, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain management and key employees; (3) costs related to the business combination and acquisitions; (4) changes in applicable laws or regulations; (5) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and (6) other risks and uncertainties indicated from time to time in the Company’s filings with the U.S. Securities and Exchange Commission, including those under “Risk Factors” therein. 2
PRESENTERS Joe Boyer David Quinn Chief Executive Officer Chief Financial Officer 30+ years of experience 25+ years of experience in the construction, engineering and Oversaw the delivery of infrastructure technical services industries planning, engineering, architecture, construction management, Previously served in Senior environmental consulting and Executive roles at the Shaw Group program management services as and Atkins North America, most CEO, Atkins North America recently in Chief Financial Officer and Chief Operating Officer capacities. Previously held the position of President of Shaw Environmental & Infrastructure’s Federal division 3
TABLE OF 1 OVERVIEW CONTENTS 2 INVESTMENT HIGHLIGHTS 3 KEY FINANCIALS 4
A LEADING NATIONAL TECHNICAL SERVICES PLATFORM Specialized provider of testing and inspection services to support critical infrastructure ESSENTIAL PROVIDER OF ATLAS OVERVIEW MISSION CRITICAL SERVICES TESTING, INSPECTION & CONSULTING 18% $475M $607M Adj. EBITDA Materials Engineering & Testing Revenue LTM Backlog Margin LTM 1 Construction Quality Assurance Environmental Services HIGH QUALITY CUSTOMER AND WORK MIX Disaster Response & Recovery 95% Time & Materials 9,000+ Annual ENGINEERING, PLANNING & DESIGN 70% Existing Structures Customers Engineering & Design Services 50,000+ Annual <$10k+ Average Program Management Projects Project Size Construction Support Services 5 1 Adjusted EBITDA margin calculated as Adjusted EBITDA / Net Revenues
WHO WE ARE Values-Driven Approach Life Heart We enhance life. We value our As our hallmarks, we act with people and our clients by compassion, empathy and providing safe and sustainable respect. infrastructure. Trust Mastery We strive to be the most sought-after infrastructure solutions company, known for our We work together as partners, Always striving for the highest unique values-driven approach and brought to doing what we say with full quality, we ensure greatness life by the industry’s most exceptional people. accountability. inspires all our work. 6
PURPOSE BUILT PLATFORM A Modern Approach Backed by a Legacy of Excellence Forming the Establishing Executing the Creating Completed Strategy the Platform Atlas Playbook National Scale Public Listing 2016 2017 2018 2019 2020 National Scale Platform Acquired three Created the Atlas Integration of platform Merger with ATC Acquisition of Long regional market playbook and and cross-selling Group Services Engineering leaders in initiated M&A jumpstarted backlog established Completed Public Texas, Georgia discussions to growth national platform Listing and California create the platform Nasdaq: ATCX 7
ROBUST FUNDAMENTALS SUPPORT VALUATION UPSIDE Strong Growth Profile 1,2 EV/2020 EBITDA Versus Peers 2,3,4,5,6 15.3x 2019 Net Revenue Growth Versus Peers 14.1x 25% 13.1x 12.2x 14% 8.1x ATCX Key Peers Attractive Margin Dynamics 1,2 2019 Adj. EBITDA Growth Versus Peers 2019 Adj. EBITDA Margin Versus Peers Atlas Key Peers E&D Peers T&I Peers Professional 25% 17% Services Peers 12% 7% 1. Net Revenue figures used where available and Adjusted EBITDA margin calculated as % of Net Revenue where available 2. Key Peers: NV5 Global,, Tetra Tech, and ICF International, Engineering & Design (“ E&D ”) Peers: NV5 Global,, Tetra Tech,, Parsons Corporation, Stantec, WSP Global, Jacobs Engineering Group and AECOM 3. 4. Testing & Inspection (“T&I”) Peers: Applus Services, S.A., ALS Limited, Bureau Veritas S.A., Intertek Group plc and SGS S.A. ATCX Key Peers ATCX Key Peers 5. Professional Services Peers: Accenture plc, Booz Allen Hamilton, CGI, FTI Consulting,, Huron Consulting Group, and ICF International, 8 6. Source: FactSet, company filings as of 5/31/2020
CURRENT MARKET LANDSCAPE Non-discretionary and government-based work not materially impacted by COVID-19 Atlas’ mission critical services support infrastructure and other essential industries ~50% ~50% Government-Based Work Private Sector No Material Impact: Localized Impact: No contracted backlog projects have been cancelled Government-based work largely Localized geographic work stable with upside potential from delays, most notably in the Northeast and Northern California federal stimulus on infrastructure Highly variable cost structure Key End Markets: Key End Markets: to align resources with market activity; enacted cost savings • • Infrastructure Commercial to benefit 2020E by $8-10M • • Transportation Industrial • Other Government 9
TABLE OF 1 OVERVIEW CONTENTS 2 INVESTMENT HIGHLIGHTS 3 KEY FINANCIALS 10
INVESTMENT HIGHLIGHTS Provider of highly-technical, mission-critical services Entrenched long-term relationships with high quality customers base Resilient business model driven by repeatable, contracted revenue base derived mostly from non- discretionary testing and inspection projects Proven ability to execute multi-pronged growth strategy Industry leading gross margins and EBITDA margin profiles, driving substantial free cash flow Continued growth in backlog provides Atlas with one of the strongest backlog positions in the technical services space Disciplined deleveraging M&A approach 11
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