You should read the following management's discussion and analysis together with Concrete Pumping Holdings, Inc.'s (the "Company", "we", "us", "our" or "Successor") Unaudited Consolidated Financial Statements and related notes included elsewhere in this Quarterly Report.

Cautionary Statement Concerning Forward-Looking Statements

? the length and severity of, and the pace of recovery following, the

U.S. Concrete Waste Management Services

Our Corporate segment is primarily related to the intercompany leasing of real estate to certain of our U.S Concrete Pumping branches.

Impacts of Macroeconomic Factors and COVID-19 Recovery

U.S. Concrete Waste Management Services

Change in Fair Value of Warrant Liabilities

Transaction Costs & Debt Extinguishment Costs

Adjusted EBITDA(1) and Net Income (Loss)

(1) Please see "Non-GAAP Measures (EBITDA and Adjusted EBITDA)" below

U.S. Concrete Waste Management Services

There was no movement in Adjusted EBITDA for our Corporate segment for both periods presented. Any year-over-year changes for our Corporate segment is primarily related to the allocation of overhead costs.

Summarized terms of the senior secured notes are as follows:

Summarized terms of the ABL Facility, as amended, are as follows:

The outstanding balance under the ABL Facility as of July 31, 2022 was $16.9 million and the Company was in compliance with all debt covenants thereunder.

Non-GAAP Measures (EBITDA and Adjusted EBITDA)

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