TUTOR PERINI CORP

Highly Profitable Backlog

The Company booked approximately $2.2 billion of new awards and contract adjustments in the third quarter of 2026, a second straight quarter with a book-to-burn ratio greater than 1.0x, which resulted in backlog of $20.4 billion as of September 30, 2026.

The largest additions to backlog in the third quarter of 2026 included the following:

•$1.0 billion of additional work for a Civil segment project that includes a substantial amount of electrical and mechanical work to be performed by the Specialty Contractors segment;

•$577 million of new awards for several Building segment federal government projects;

•$145 million of new awards and additional funding for various military facility projects in the Indo-Pacific region;

•$126 million for various bridge projects in the Midwest;

•$108 million of additional funding for a hospitality and gaming project in Oklahoma; and

•$89 million of additional funding for several mass-transit projects in California.

Tutor Perini continues to have numerous significant project bidding opportunities this year and beyond, particularly in the Indo-Pacific region, as well as in California, the Midwest, and the Northeast, and remains well positioned to continue winning its share of new projects.

Overall, the Company's pipeline of potential projects over the next three to four years totals more than $200 billion, which is approximately three times larger than the pipeline from just a couple of years ago. Many of these prospects are expected to bid over the next one to two years. The Company expects its backlog will remain strong due to its anticipated success in winning various near-term pursuits, as well as certain Building segment projects currently in the preconstruction phase that are expected to advance to the construction phase this year and beyond. Given the magnitude of these opportunities, Tutor Perini intends to remain selective and disciplined in pursuing new projects with favorable margin and risk profiles that will drive long-term shareholder value.