(1) Cash flow from operating activities is provided as a comparable measure to cash flow from operating activities before working capital adjustments. (2) Per share, basic and diluted measures calculated by dividing the respective financial measure with the weighted average common shares outstanding for the respective period. Business Outlook and Strategic Milestones Badger is positioning the business to take advantage of an expected strong market recovery in 2021 from the COVID-19 pandemic and to prepare for the traditional summer construction season. Badger began hiring and training operators, sales people and operations staff in the fourth quarter of 2020 and has continued this activity in the first quarter of 2021. Also commencing in the fourth quarter of 2020 and continuing in 2021, Badger has made investments to enhance its organizational design and management structure.