FirstService (FSV) Investor presentation summary

Company overview and market position

• Leading provider of essential outsourced property services in the U.S. and Canada, with $5.56B in trailing 12-month revenue and $565M in adjusted EBITDA as of March 2026.

• Operations split between FirstService Residential (largest in residential community management) and FirstService Brands (major provider of property services).

• 30,000 employees, dual-listed on TSX and NASDAQ, with a $1.22 per share annual dividend.

• Holds leading or top-three market positions in large, fragmented markets, with modest market shares and significant growth potential.

Business model and growth strategy

• Achieves 10% average annual top-line growth, balanced between organic expansion and acquisitions.

• High proportion of contractual, recurring revenue and strong client retention drive predictable cash flow.

• Conservative balance sheet with low leverage and strong free cash flow.

• Growth strategy focuses on customer retention, expanding service lines, acquisitions, and entering new geographies.

Segment profiles and market opportunities

• FirstService Residential manages 9,500+ communities, generating $2.3B in 2025 revenue, with a mid-90%+ contract retention rate.

• Residential revenue diversified by property type and region, with 56% from property management and 18% from pool/amenity management.

• Holds 6-8% share in a 400,000-community association market, with significant conversion opportunities from self-managed associations.

• FirstService Brands includes restoration ($1.4B company-owned revenue), roofing ($650M), fire protection ($640M), and home services ($560M company-owned revenue).