Infrastructure and Energy Alternatives : IEA Investor Presentation - Stifel Virtual 2021 Cross Sector Insight Presentation

STIFEL 2021 VIRTUAL CROSS SECTOR INSIGHT CONFERENCE

JUNE 8, 2021

© 2021. IEA.

All Rights Reserved.

SAFE HARBOR STATEMENT

All statements, other than statements of historical fact, included in this presentation contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The forward-looking statements can be identified by the use of forward-looking terminology including "may," "should," "likely," "will," "believe," "expect," "anticipate," "estimate," "forecast," "seek," "target," "continue," "plan," "intend," "project," or other similar words.

All statements, other than statements of historical fact, included in this presentation regarding expectations for the impact of COVID-19, future financial performance, business strategies, expectations for our business, future operations, liquidity positions, availability of capital resources, financial position, estimated revenues and losses, projected costs, prospects, plans, objectives and beliefs of management are forward-looking statements.

These forward-looking statements are based on information available as of the date of this presentation and our management's current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot give any assurance that such expectations will prove correct. Forward-looking statements should not be relied upon as representing our views as of any subsequent date. As a result of a number of known and unknown risks and uncertainties, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include:

• potential risks and uncertainties relating to COVID-19, including the geographic spread, the severity of the disease, the scope and duration of the COVID-19 pandemic, actions that may be taken by governmental authorities to contain the COVID-19 pandemic or to treat its impact, and the potential negative impacts of COVID-19 on permitting and project construction cycles, the U.S. economy and financial markets;
• availability of commercially reasonable and accessible sources of liquidity and bonding;
• our ability to generate cash flow and liquidity to fund operations;
• the timing and extent of fluctuations in geographic, weather and operational factors affecting our customers, projects and the industries in which we operate;
• our ability to identify acquisition candidates and integrate acquired businesses;
• our ability to grow and manage growth profitably;
• the possibility that we may be adversely affected by economic, business, and/or competitive factors;
• market conditions, technological developments, regulatory changes or other governmental policy uncertainty that affects us or our customers;
• our ability to manage projects effectively and in accordance with management estimates, as well as the ability to accurately estimate the costs associated with our fixed price and other contracts, including any material changes in estimates for completion of projects;
• the effect on demand for our services and changes in the amount of capital expenditures by customers due to, among other things, economic conditions, commodity price fluctuations, the availability and cost of financing, and customer consolidation;
• the ability of customers to terminate or reduce the amount of work, or in some cases, the prices paid for services, on short or no notice;
• customer disputes related to the performance of services;
• disputes with, or failures of, subcontractors to deliver agreed-upon supplies or services in a timely fashion;
• our ability to replace non-recurring projects with new projects;
• the impact of U.S. federal, local, state, foreign or tax legislation and other regulations affecting the renewable energy industry and related projects and expenditures;
• the effect of state and federal regulatory initiatives, including costs of compliance with existing and future safety and environmental requirements;
• fluctuations in equipment, fuel, materials, labor and other costs;
• our beliefs regarding the state of the renewable energy market generally; and
• the "Risk Factors" described in this Annual Report on Form 10-K, and in our quarterly reports, other public filings and press releases.

We do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

© 2021. IEA. All Rights Reserved.	2

Who We Are

Infrastructure & Energy Alternatives

(Nasdaq "IEA")

Leading North American provider of

infrastructure services

65% of revenues derived from

renewable energy segment construction

"Double-Breasted" workforce allows IEA to perform both union and non-union jobs

© 2021. IEA. All Rights Reserved.

2020 Segment Revenues by End-market

$1.8 Billion

Renewables

• Wind farm construction
• Solar project construction

65%

35%

Specialty Civil

• Environmental remediation

• Rail construction

• Bridge construction

• Highway repair

Select ESG Index Memberships

Atlas Clean

Energy Index

3

LEADERSHIP POSITIONS ACROSS OUR CORE BUSINESSES

#2	Top 3
Wind / Solar EPC(1)	Coal Ash Remediation(2)

Services Enabling

the Energy Transition

		Top 20	Top 20
		Rail Infrastructure(3)	Highway Construction(3)	Services Improving
				Transportation
(1) Based on combined 2020 ENR rankings for			Infrastructure
	wind and solar revenues.
(2)	Management estimate based on IEA and
	competitor revenues for 2019 and 2020.
(3)	Based on 2020 ENR ranking.

© 2021. IEA. All Rights Reserved.	4

Committed to Building Renewable Energy

We're focused on building a greener future, one wind turbine and solar panel at a time.

There's no question that the increased production and usage of renewable energy is crucial to reducing greenhouse gas emissions worldwide. IEA is proud to support this collective mission by leveraging our in-house expertise to build reliable infrastructure across all phases of the renewable energy lifecycle. From power generation to delivery, we can handle it all.

Since entering the renewable energy market, IEA has become one of the largest utility-scale wind farm contractors in the country, completing more than 240 wind and solar projects and generating more than 21.4 GW of renewable energy through 2020.

It is our goal, as we continue to grow, to expand and refine our renewable energy infrastructure construction capabilities, while minimizing environmental impact at every stage.

21.4 GW

of renewable energy built through 2020

240+

wind and solar projects

completed

11,000+

wind turbines erected

36 states

renewable energy projects

completed in 36 states

© 2021. IEA. All Rights Reserved.	5