Limbach : General Investor Presentation - May 9th, 2023

NASDAQ: LMB

INVESTOR PRESENTATION

May 2023

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Forward Looking Statements

We make forward-looking statements in this presentation within the meaning of the Private Securities Litigation Reform Act of 1995. These forward- looking statements relate to expectations or forecasts for future events, including, without limitation, the execution of the Company's long-term strategic roadmap and Limbach 3.0. These statements may be preceded by, followed by or include the words "may," "might," "will," "will likely result," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target, " "scenario" or similar expressions. These forward-looking statements are based on information available to us as of the date they were made and involve a number of risks and

uncertainties which may cause them to turn out to be wrong. Some of these risks and uncertainties may in the future be amplified by the COVID-19

outbreak and there may be additional risks that we consider immaterial, or which are unknown. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and 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. 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. Please refer to our most recent annual report on Form 10- K, as well as our subsequent filings on Form 10-Q and Form 8-K, which are available on the SEC's website (www.sec.gov), for a full discussion of the risks and other factors that may impact any forward-looking statements in this presentation.

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Limbach Combines Best in Class Attributes of Key Verticals

As we evolve Limbach to include an increasing contribution from high-value activities centered on providing solutions, we

expect to drive margin improvement with valuation multiples following suit.

Specialty	Consulting
Contractors	& Eng. Firms

Property		OEM Firms
Managers

INCREASED MARGINS

ON OUR PATH TO BECOME AN

INDISPENSABLE PARTNER

Incorporating aspects of non-residential

construction, consulting & engineering, energy service, and property management firms, we provide full life-cycle capabilities that combine our disciplined approach with engineered solutions and craft expertise enabling us to be the one-stop-shop for building owners to maximize their investment in their mission-critical assets.

INCREASED MULTIPLE

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Investment Highlights

Strong Sector

Tailwinds

Evolving, Differentiated

Business Model

Owner Direct Revenue

Driving Margins Higher

Positioned for Customer

Spending Flex

Internal & External

Growth Supported by

Strong Balance Sheet

Building owners are increasingly focused on ROIC, including maintenance and retrofit of existing facilities, driving demand for facilities service capabilities.

We provide full life-cycle capabilities that combine our disciplined approach with engineered solutions and craft expertise enabling us to be the one-stop-shop for building owners to maximize their investment in their mission-critical assets.

Growing base of recurring revenue through contracted building maintenance services driving our expanding, higher margin Owner-Direct("ODR") segment.

Integrated solution suite well-positioned to benefit as building owners flex spending between Capital and Operating Budgets. Ability to service customer needs stemming from both spending buckets provides macroeconomic resilience.

Cash and cash equivalents of $41.4 million1, zero net debt1; TTM adjusted EBITDA of $37.0 million2 as of 3/31/23. Expanded credit revolver of up to $50.0 million put in place subsequent to quarter end.

1.	See Balance Sheet on slide 17.
2.	See slide 18 for calculation of TTM Adjusted EBITDA.	4

Creating Value in Strong Primary End Markets

MISSION-CRITICAL MARKETS WE SERVE

Healthcare	Data Centers	Industrial & Light
		Manufacturing

Cultural	Higher	Life
& Entmt.	Education	Sciences

END MARKET ATTRIBUTES

• Favorable demographic support

Ex. - Aging population driving healthcare spending

• Supportive secular trends

Ex. - Supply chain issues have ignited interest in onshoring

• Facilities are 'mission-critical'

Ex. - Building owners are acutely focused on maximizing uptime and providing the best environment for their building occupants

DURABLE	DATA	TRUSTED
DEMAND	PARTNER
Facility data and service
Customers with strong	Creating value by
history allows us to find
competitive positioning	providing the
efficiencies throughout the
in markets expected to	widest range of
entire building lifecycle
experience long-term	services for
investment in assets		customers

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