DYCOM INDUSTRIES INC

This Annual Report on Form 10-K, including any documents that may be incorporated by reference, may contain forward-looking statements. Forward looking statements can be identified with words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “project,” “forecast,” “target,” “outlook,” “may,” “should,” “could,” and similar expressions, as well as statements written in the future tense. These statements, as well as any other written or oral forward-looking statements we may make from time to time in other SEC filings or other public communications are intended to qualify for the “safe harbor” from liability established by the Private Securities Litigation Reform Act of 1995. You should not consider forward-looking statements as guarantees of future performance or results. When made, forward-looking statements are based on information known to management at such time and/or management’s good faith belief with respect to future events. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in our forward-looking statements. Important factors, assumptions, uncertainties, and risks that could cause such differences include, but are not limited to:

•projections of revenues, income or loss, or capital expenditures;

•future economic conditions and trends in the industries we serve;

•changes in government policies and laws affecting our business, including related to funding for infrastructure projects, trade restrictions and tariff policies;

•our highly concentrated customer base;

•the competitive environment in which we operate;

•customer capital budgets and spending priorities;

•our plans for future operations, growth and services, including contract backlog;

•our plans for future acquisitions, dispositions, or financial needs;

•expected benefits and synergies of businesses acquired and future opportunities for the combined businesses;

•our significant accounts receivable and contract assets;

•availability of capital;

•restrictions imposed by our senior notes and credit agreement;

•use of our cash flow to service our debt;

•the effect of changes in tax law;

•potential liabilities and other adverse effects arising from occupational health, safety, and other regulatory matters;

•potential exposure to environmental liabilities;

•our potential exposure to litigation, indemnity claims, warranty claims, and other liabilities and disputes;

•determinations as to whether the carrying value of our assets is impaired;

•duration and severity of public health emergencies and their ultimate impact across our business;

•the impact of seasonality and adverse weather conditions on demand for our services;

•the impact of technological change on our customers’ spending and our ability to keep pace with technological developments;

•our ability to attract and retain qualified employees and subcontractors;

•the impact of a failure, outage or cybersecurity breach of our technology or information technology systems or those of third-party providers;

•other risks outlined in our periodic filings with the SEC; and

•other factors that are discussed within Item 1. Business, Item 1A. Risk Factors and Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of this Annual Report on Form 10-K.

Our forward-looking statements are expressly qualified in their entirety by this cautionary statement. We do not undertake to update or revise forward-looking statements to reflect events or circumstances arising after the date of those statements or to reflect the occurrence of anticipated or unanticipated events.