MASTEC INC

Note 9 –Equity

Share Repurchases

The Company’s share repurchase program provides for the repurchase, from time to time, of MasTec common shares in open market transactions or in privately negotiated transactions in accordance with applicable securities laws. For the three and six months ended June 30, 2025, the Company repurchased 0.4 million and 0.7 million shares of its common stock, respectively, for an aggregate purchase price totaling $40.3 million and $77.3 million, respectively, which completed the Company’s $150 million March 2020 share repurchase program. There wereno share repurchases under the Company’s share repurchase program during the six months ended June 30, 2024. In May 2025, the Company’s Board of Directors authorized a new $250 million share repurchase program, for which the full amount remains available for future share repurchases as of June 30, 2025. The Company’s share repurchase program does not have an expiration date and may be modified or suspended at any time at the Company’s discretion.

Accumulated Other Comprehensive Loss

Unrealized foreign currency translation activity, net, in each of the three and six months ended June 30, 2025 and 2024 relates primarily to the Company’s activities in Canada and Mexico. Other unrealized activity within accumulated comprehensive loss in each of the three and six months ended June 30, 2025 and 2024 relates to unrealized investment gains or losses associated with interest rate swaps for the Waha JVs.