Boyd Services : Q2 2023 Boyd Group Investor Fact Sheet

Boyd Group Services Inc.

Q2 2023 Fact Sheet

PROFILE

Boyd Group Services Inc. ("BGSI"), through its operating company, The Boyd Group Inc. and its subsidiaries

("Boyd" or the "Company"), is one of the largest operators of non-franchised collision repair centers in North

America in terms of number of locations and sales. The Company currently operates locations in Canada under the trade names Boyd Autobody & Glass and Assured Automotive, as well as in the U.S. under the trade name Gerber Collision & Glass. The Company is also a major retail auto glass operator in the U.S. under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com. In addition, the Company operates a third-party administrator, Gerber National Claims Services ("GNCS"), that offers glass, emergency roadside and first notice of loss services. The following is a geographic breakdown of the collision repair locations, including intake centers, and trade names.

CO LLISIO N LO C AT IO NS

	BOYD AUTOBODY & GLASS (CANADA)
889 Locations Across North America	➩Alberta	16
➩Manitoba	12
	➩British Columbia	14
	➩Saskatchewan	4

MARKET FACTS

TSX Symbol: BYD.TO

Close Price (August 10, 2023): C$249.14

52-week Range: C$164.90-254.76

Shares Outstanding: 21.5M

Market Capitalization: C$5,349.6M

Annualized Dividend (per share): C$0.588

Current Yield: 0.24%

MANAGEMENT

Timothy O'Day

President & CEO

Jeff Murray

Executive Vice President & CFO

Hawaii

The number of collision locations include 34 intake locations in Canada, and 4 intake locations and two fleet locations co-located with collision repair centers in the U.S.

Total Locations

46

ASSURED AUTOMOTIVE (CANADA)

➩Ontario82

Total Locations

82

GERBER COLLISION & GLASS (U.S.)

➩ Florida	75
➩ Michigan	72
➩ Illinois	66
➩ California	43
➩ New York	40
➩ Washington	38
➩ North Carolina	36
➩ Wisconsin	36
➩ Georgia	35
➩ Ohio	34
➩ Indiana	33
➩ Texas	29
➩ Oklahoma	28
➩ Arizona	25
➩ Colorado	22
➩ Louisiana	22
➩ South Carolina	20
➩ Maryland	13
➩ Tennessee	12
➩ Kansas	11
➩ Oregon	11
➩ Pennsylvania	11
➩ Alabama	10
➩ Nevada	8
➩ Missouri	8
➩ Hawaii	5
➩ Utah	5
➩ Kentucky	4
➩ Arkansas	3
➩ Iowa	3
➩ Minnesota	2
➩ Idaho	1
Total Locations	761

Brian Kaner

Executive Vice President & COO Collision

DIRECTORS

David Brown (Independent Chair)

Brock Bulbuck

Robert Espey

Christine Feuell

Robert Gross

John Hartmann

Violet Konkle

Timothy O'Day

William Onuwa

Sally Savoia

CONTACT INFORMATION

Corporate Headquarters

The Boyd Group Inc.

1745 Ellice Avenue, Unit C1

Winnipeg, Manitoba

R3H 1A6

Tel: 204·895·1244

Fax: 204·895·1283

[e-mail]

www.boydgroup.com

B U S I N E S S STRATEGY

Operational excellence

Enhance

ShareholdersShareholder

Value

Expense management

THE BOYD

GROUP

New location and	Same-store sales growth and optimize
acquisition growth
returns from existing operations

FINANCIAL SUMMARY

	SALES (US$ millions)		ADJUSTED EBITDA* (US$ millions)
2,500				300
2,000				250
		200
1,500
		150
1,000
		100
500
		50
0				0

20	21	22		20	21	22
		Three months ended		Six months ended
(in US$ millions, except per share and	June 30, 2023	June 30, 2022	June 30, 2023	June 30, 2022
% amounts)
Sales		$753.2	$612.8		$1,468.2	$1,169.6
Gross Profit		$342.7	$277.5		$669.7	$522.9
Adjusted EBITDA*		$95.4	$72.0		$180.1	$125.8
Adjusted EBITDA Margin*		12.7%	11.7%		12.3%	10.8%
Adjusted Net Earnings*		$27.0	$13.6		$48.2	$15.7
Adjusted Net Earnings* per share	$1.26	$0.63		$2.25	$0.73

*Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Earnings and Adjusted Net Earnings per share are non-GAAP financial measures and ratios and are not standardized financial measures under International Financial Reporting Standards and might not be comparable to similar financial measures disclosed by other issuers. For additional details, including a reconciliation of each non-GAAP financial measure to its nearest GAAP equivalent, please see "Non-GAAP Financial Measures and Ratios" in Boyd's MD&A filing (dated August 10, 2023) for the period ended June 30, 2023. A copy of Boyd's MD&A filing (dated August 10, 2023) for the period ended June 30, 2023, can be accessed via the SEDAR+ website (www.sedarplus.ca)

INVESTOR RELATIONS

Timothy O'Day

President & CEO

Boyd Group Services Inc. 847·410·6002 [e-mail]

Jeff Murray

Executive Vice President & CFO Boyd Group Services Inc. 204·594·1773 [e-mail]

Craig MacPhail Investor Relations 416·586·1938 [e-mail]

ANALYST COVERAGE

Chris Murray

ATB Capital Markets

Tamy Chen

BMO Capital Markets

Krista Friesen

CIBC World Markets

Jeff Fenwick

Cormark Securities

Gary Ho

Desjardins

Kate McShane

Goldman Sachs & Co.

Bret Jordan

Jefferies

Jonathan Lamers

Laurentian Bank Securities

Zachary Evershed

National Bank Financial

Steve Hansen

Raymond James

Sabahat Khan

RBC Capital Markets

Michael Doumet

Scotia Capital

Derek J. Lessard

TD Securities

S U M M ARY

STABILITY

+

GROWTH

=

SHAREHOLDER VALUE

• Strong balance sheet
• Insurer preference for MSOs
• Recession resilient
• US$41.0 billion fragmented industry
• High ROIC growth strategy
• Market leader/consolidator in North America
• Cash dividends/conservative payout ratio
• 5-yeartotal shareholder return of 106.83%

Focus on

enhancing

shareholders'

value