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December 19, 2023

Bird Awarded Energy, Power, Manufacturing, and Multi-Storey Modular Contracts Worth Over $530 Million



Bird Construction Inc. (TSX: BDT) announced today that it has signed five new contracts. The combined value of the five contracts is over $530 million.

The awarded contracts include a large manufacturing facility, the Kakabeka Falls Generating Station Life Extension Project, two contracts for large energy clients, and a 13-storey modular tower for BC Housing’s Permanent Supportive Housing Initiative.

Bird’s wholly owned subsidiary, Stuart Olson Industrial Constructors, has been contracted for the Kakabeka Falls Generating Station Life Extension Project by Ontario Power Generation (“OPG”) in a 50/50 joint venture. This project aims to enhance the longevity and efficiency of the Kakabeka Falls Generating Station, situated on the Kaministiquia River near Thunder Bay. The station, comprising four hydroelectric generating units, will undergo upgrades to increase power output and extend its operational life, ensuring sustainable and reliable electricity generation for another 90 years. Bird's role encompasses the design and installation of two new hydro generation units to replace the four existing generators, the construction of a new surge building and penstocks, and the rehabilitation of the existing powerhouse. Bird will execute the projects with a focus on collaboration, employing Lean construction methods and leveraging our self-perform expertise in concrete, earthworks, and process mechanical and electrical services.

Bird was awarded a new project and a separate significant change order within an existing project with two long-term clients in the Wood Buffalo region of Alberta. The work is for site infrastructure and other project services, including concrete foundations, instrumentation and controls, as well as telecommunications, fibre optic, mechanical, and high and low voltage electrical services.

Bird was also awarded an additional construction management contract for a 13-storey modular tower for BC Housing’s Permanent Supportive Housing Initiative, located on West 8th Avenue in Vancouver, BC. Awarded Canada’s tallest modular build earlier this year, this is Bird’s second multi-storey modular construction project design that will be delivered by its Stack Modular business. The 13-storey modular project is part of the permanent supportive housing initiative between BC Housing, the City of Vancouver, and the Canada Mortgage and Housing Corporation (“CMHC”) to deliver a minimum of 300 permanent supportive homes on five city-owned sites to meet the growing need for supportive housing in the community. The volumetric modular construction design solution allows for replicability and standardization across all residential floors, cost-effectiveness, logistical ease, and ultimately, a faster turnaround for the permanent supportive housing initiative program.

"These awards reflect the success we are achieving in the diversification of our work program across Canada with our significant self-perform capabilities, strong project management, and forward-leaning accelerated construction solutions,” said Teri McKibbon, President and CEO of Bird. “Our continued ability to deliver critical projects across a range of sectors has solidified our reputation as a trusted partner. We look forward to further strengthening relationships with our clients, partners, and community stakeholders through our innovative and collaborative approach.”

This press release contains forward-looking information (as defined in applicable Canadian securities legislation) that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance, or achievements to materially differ from those expressed or implied by the forward-looking information.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

For further information, contact:
T.L. McKibbon, President & CEO or
W.R. Gingrich, CFO
Bird Construction Inc.
5700 Explorer Drive, Suite 400
Mississauga, ON L4W 0C6
Phone: (905) 602-4122

About Bird Construction
Bird (TSX: BDT) is a leading Canadian construction company operating from coast-to-coast and servicing all of Canada's major markets. Bird provides a comprehensive range of construction services from new construction for industrial, infrastructure and institutional markets, to industrial maintenance, repair and operations services, heavy civil construction, and mine support services, as well as vertical infrastructure, including electrical, mechanical, and specialty trades. 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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