Construction Partners : Investor Relations Presentation – Summer 2021

SPRING 2021 INVESTOR

PRESENTATION

FORWARD-LOOKING

STATEMENTS

This presentation contains "forward‐looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Construction Partners, Inc. (the "Company"), its financial condition, its results of operations and the Company's current views based on information currently available. This information is, where applicable, based on estimates, assumptions and analysis that the Company believes, as of the date hereof, provides a reasonable basis for the information contained herein. Forward‐looking statements generally can be

identified by the use of forward‐looking words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," "foresees" or the negative version of those words or other comparable

words and phrases, and include statements relating to the Company's beliefs or expectations regarding its future performance, strategic plans and cash flows, as well as any other statements that do not directly relate to any historical or current facts. Forward‐looking statements involve known and unknown risks and uncertainties, including those set forth in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2020, its subsequently filed Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K and other documents filed with the Securities and Exchange Commission (the "SEC"), many of which are outside of the Company's control. Actual results, performance or achievements may differ materially from forward‐looking statements and the assumptions on which forward-looking statements are based. There can be no assurance that the information contained herein is reflective of future performance, and investors are cautioned not to place undue reliance on forward‐looking statements as a predictor of future performance. Unless otherwise specified, all information contained in this presentation speaks only as of the date hereof. The Company undertakes no duty to update or revise the information contained herein, publicly or otherwise, whether as a result of new information, future events or otherwise, except as required by law.

This presentation contains certain financial measures not presented in accordance with generally accepted accounting principles ("GAAP"), including Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Net Income. These non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing the Company's financial results. Therefore, these measures should not be considered in isolation or as an alternative to Net Income or other measures of profitability or performance under GAAP. The Company's presentation of non-GAAP financial measures may not be comparable to similarly titled measures of other organizations, as such measures may not be calculated in the same manner. See the appendix of this presentation for a reconciliation of the non-GAAP measures included herein.

The Company's fiscal year is the 52-week period ending on September 30. Reference to a particular "fiscal year" or "FY" in this presentation refers to such period. This presentation contains estimates and other statistical data made by independent parties relating to, among other things, market size and growth. These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. The Company has not independently verified the statistical and other industry data generated by independent parties and, accordingly, it cannot guarantee their accuracy or completeness. In addition, projections, assumptions and estimates of the Company's future performance and the future performance of the markets in which it competes are necessarily subject to uncertainty and risk due to a variety of factors. These and other factors could cause results or outcomes to differ materially from those expressed in the estimates made by the independent parties.

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PRESENTERS

	Ned Fleming			Jule Smith			Alan Palmer
					Executive Vice President and
	Executive Chairman			President and CEO
					CFO

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COMPELLING

INVESTMENT THESIS

Proven Growth Strategy and Strong Outlook
• Consistent top line growth with double-digit EBITDA margins
• Strong balance sheet (>$150MM in cash and borrowing capacity)
• Vested and experienced management team
Differentiated Model with Competitive Advantages
• Vertically integrated operations
• Diversified projects with shorter average durations and no "mega" projects
• Geographic synergies
• Non-cyclical industry dynamics
• Variable cost base (~2/3 of workforce is hourly)
Local Presence Matters
• Poor and deteriorating roadways in existing five states
• State and local governments have increased funding for roads
• Majority of work: publicly-funded road repair and recurring maintenance
• Local, home-based workforce
Three Levers of Growth
• Acquisitions
• Greenfields
• Organic growth	4

VERTICALLY INTEGRATED

MATERIALS, MANUFACTURING & SERVICES

Clearing & Grading

Aggregate Facilities (9)

Roadway Base

Signage & Roadway Markers

	HMA Pavement
	Guardrails, Barriers, etc.
	Bridges & Concrete
	Structures
HMA Manufacturing Plants (48)	Line Striping, Paint,
Reflectors, etc.

Storm Drainage

Misc. Concrete

Liquid Asphalt Terminal (1)(curb, gutter, etc.)

CPI

CPI / Other Firm

Subcontractor

Finished Road

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