INVESTOR

PRESENTATION

M a r c h 1 , 2 0 2 4

OUR PEOPLE

POWER MODERN LIFE

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NOTICE TO INVESTORS

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This presentation (and oral statements regarding the subject matter of this presentation) includes forward-looking statements intended to qualify under the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include any statements reflecting Quanta's expectations, intentions, strategies, assumptions, plans or beliefs about future events or performance or that do not solely relate to historical or current facts. Forward-looking statements involve certain risks, uncertainties and assumptions that are difficult to predict or beyond Quanta's control, and actual results may differ materially from those expected, implied or forecasted by our forward-looking statements due to inaccurate assumptions and known and unknown risk and uncertainties. For additional information concerning some of the risks, uncertainties, assumptions and other factors that could affect our forward- looking statements, please refer to Quanta's Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023 and September 30, 2023 and other documents filed with the Securities and Exchange Commission, which are available on our website (www.quantaservices.com), as well as the risks, uncertainties and assumptions identified in this presentation. Investors and analysts should not place undue reliance on Quanta's forward-looking statements, which are current only as of the date of this presentation. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this presentation or otherwise, and Quanta expressly disclaims any written or oral statements made by any third party regarding the subject matter of this presentation.

Additionally, any financial projections in this presentation are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond Quanta's control. While such projections are necessarily speculative, Quanta believes that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. The assumptions and estimates underlying such projected results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The inclusion of financial information or projections in this presentation should not be regarded as an indication that Quanta considered or consider the information or projections to be a reliable prediction of future events.

Certain information may be provided in this presentation that includes financial measurements that are not required by, or presented in accordance with, generally accepted accounting principles (GAAP). These non-GAAP financial measures should not be considered as alternatives to GAAP financial measures, such as net income attributable to common stock and cash flow provided by operating activities, and may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. For a reconciliation to the most directly comparable GAAP financial measures, please refer to the accompanying reconciliation tables.

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KEY TAKEAWAYS

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Quanta is a leading specialty infrastructure solutions provider for the utility,

renewable energy, communications and energy industries

The combination of our comprehensive power grid and renewable generation

2 capabilities provides a leading infrastructure solutions platform to collaborate with customers to shape North America's energy transition

We typically self-perform +80% of our work, which we believe helps mitigate

3 project risks and ensure efficiency, safety and cost-certainty for our customers

Infrastructure opportunities are significant and sustainable. Quanta has

4 meaningful exposure to highly predictable, largely non-discretionary spend across multiple end-markets

Quanta is levered to favorable long-term megatrends such as utility grid

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modernization, system hardening, renewable generation expansion and

integration, electric vehicles, electrification, technology adoption and

outsourcing

Our portfolio approach has resulted in a strong historical growth and

6 financial profile with continued opportunity for growth, improved profitability and solid cash flow over a multi-year period

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WHO IS QUANTA SERVICES?

Leading Specialty Infrastructure Solutions Provider

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Growing Total Addressable

Market (TAM) driven

Recognized market leader in

by megatrends with

expanding market share

the utility, renewable,

across all

communications and energy

three segments

infrastructure industries

Est. 74% of 2023

revenues from

Largest and preferred employer of craft skilled labor in the industry. We typically self-perform+80% of our work - helps mitigate risk and provide cost certainty to customers

Industry leading safety and training results and programs

Strong

financial

profile

utilities and

renewable energy

Strong scope and scale

developers

with deep customer

Entrepreneurial

relationships. Est. +85%

business model

of 2023 revenues from

and culture

repeatable and

sustainable activity

~14% ~13%

2010 - 2023

Revenue

Adj. EBITDA(1)

CAGR

CAGR

~18%

Adj. EPS(1)

CAGR

(1) Refer to appendix for a reconciliation of this non-GAAP financial measure to its most directly comparable GAAP measure.

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QUANTA IS FOCUSED ON LONG-TERM CORPORATE RESPONSIBILITY AND SUSTAINABILITY

PEOPLE

  • Safety drives everything we do - our employees are our #1 asset
  • Have incrementally invested +$150mm in training and safety initiatives for our employees
  • $1.12 billion in diverse vendor spend in 2022
  • 30% of individuals trained at campus career programs at Northwest Lineman College (NLC) during 2022 were ethnically diverse - an increase from 26% in 2019

PLANET

  • Facilitating efficient and safe delivery of clean energy and the migration towards a reduced-carbon economy
  • We are leading the way in expanding renewable generation capacity in the US
  • Quanta has an industry-leadingreputation for environmental stewardship during its projects
  • Partnership with General Motors to incorporate a significant number
    of Chevrolet Silverado EVs into our fleet

PRINCIPLES

  • Board-leveloversight of
    ESG-related matters
  • Experienced and Diverse Board of Directors - 45% gender/ethnic diversity
  • Meaningful portion of executive compensation program linked to achieving safety and sustainability goals (including 20% of annual cash inventive and 20% of performance equity incentive)

QUANTA'S SUSTAINABILITY MISSION centers on collaborating with our customers to meet their needs and creating value for stakeholders, while focusing on employee safety and conducting our business in a socially, economically and environmentally responsible manner

Quanta's 2022 Corporate Responsibility Report

https://sustainability.quantaservices.com

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KEY STRATEGIES FOR SUSTAINABLE SUCCESS

Grow Base

Business

+$13B

Estimated increase in base business revenues(1) from 2016-2024E (based on midpoint of 2024E revenues)

Represents ~16% CAGR

Est. to account for 85% of 2024E revenues

Base business growth has increased earnings stability

Scale, innovative solutions and collaborative customer relationships are increasing visibility

Improve

Margins and

Returns

Consolidated

Adjusted

EBITDA

Margin(2)9.8%

7.6%

2016 2024E

Strategic initiatives designed to improve margins and returns across the portfolio

Opportunity for continued improvement of Renewable Energy Infrastructure Solutions segment margins going forward

Focus on North America and Australia growth opportunities

Expand Solutions

Offerings

Acquired domestic manufacturer of power transformers

2023 Acquisition

Acquired leadership position in renewable generation infrastructure solutions

2021 Acquisition

Acquired a leading gas LDC services presence in the New York metro market

2019 Acquisition

Largely organic expansion of U.S. communications services market, supplemented with select acquisitions

Develop Craft Skilled Labor

+$150M incremental investment in training and safety

Including the strategic acquisition of Northwest Lineman College (NLC)

Incremental job training for

+30,000 people at Quanta

facilities in 2023, including employees and industry personnel

~52,500

+85%

YE employee

from

count (2023)

2016

Strategic initiatives with trade associations, unions, universities and military programs, driving labor pool diversity

Disciplined & Value

Creating Capital

Deployment

Working capital to support differentiated self-perform model and growth

~$4.1B

Cash for acquisitions and strategic investments that further our strategic goals from 2019-2023

~$955 mm

Repurchases of PWR stock since 2017 (~$500 million available under stock repurchase authorization as of the end of 4Q23)

Initiated quarterly cash dividend in 1Q19.

Have since

increased by 125%

(1)

Base business is driven by multi-year trends and multi-year spending programs, which generally have minor year-to-year fluctuations outside of larger macroeconomic impacts. Base business includes services

performed under contracts with values less than $100 million for Electric Power Solutions and less than $75 million for Underground Utility and Infrastructure Solutions. Base business for the Renewable Energy

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Infrastructure Solutions segment includes renewable generation contracts for Blattner and other renewable related projects less than $100 million in contract value.

(2)

Refer to appendix for a reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure. Based on the midpoint of 2024E adjusted EBITDA as of February 22, 2024.

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STRONG, CONSISTENT FINANCIAL IMPROVEMENT DRIVEN BY KEY OBJECTIVES

Grow Base

Business

Improve

Margins and

Returns

Expand

Solutions

Offerings

Develop Craft Skilled Labor

Disciplined & Value

Creating Capital

Deployment

Revenue

(1)

$bn

$22.50

$7.57

2015

2024E

Adjusted EBITDA (2)

$2,196(1)

$mm

$526

20152024E

ROIC (2)

11.3%

4.9%

20152023

Adjusted EPS (2)

(1)

$8.25

$1.11

20152024E

Adjusted EBITDA Margin (2)

9.8%(1)

6.9%

20152024E

(1)

Based on the midpoint of Quanta's 2024E financial outlook as of February 22, 2024.

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(2)

Refer to appendix for a reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure.

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HOW WE ARE DRIVING LONG-TERM, SUSTAINABLE VALUE CREATION

Key Strategies

Grow Base

Improve

Expand Solutions

Develop Craft

Disciplined & Value

Creating Capital

Business

Margins and

Offerings

Skilled Labor

Deployment

Returns

Portfolio Approach

◄ 5% to 8% Organic Revenue CAGR

◄ Target Double Digit Adjusted EBITDA

◄

EPS Growth > Revenue Growth

Margins

◄ Double Digit ROIC

◄ Sustainable Cash Flow Generation

◄ Strategic Acquisitions

◄ Return of Capital

Actual Performance Through the Cycle, 2010 - 2023:

• Revs. CAGR of ~14%

• Adj. EBITDA CAGR(1) of ~13%

• Avg. Adj. EBITDA Margin(1) of +9%

• Adj. EPS(1) CAGR of ~18%

(1) Refer to appendix for a reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure.

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HIGH-QUALITY AND DIVERSE CUSTOMER BASE WITH CRITICAL ASSETS

We Provide Services Across Our Reporting Segments to Most of These Customers

LOW CUSTOMER CONCENTRATION

Largest

customer

accounted for

~6%

of 2023 revenues

Top 10

customers

accounted for

~31%

of 2023 revenues

SELECT CUSTOMERS - Many of Our Customer Relationships Span Decades

Electric Power

Renewable Generation

Communications

Underground Utility &

Infrastructure Solutions

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COLLABORATIVE AND COMPREHENSIVE SOLUTIONS

TRADITIONAL

Customer

identifies need for

APPROACH

an infrastructure

project

INTERMEDIARY/ EXTERNAL COMPANY

Customer would often choose engineer-led firm with limited construction expertise to design the project and lead the selection of construction firm

RANGE OF OUTCOMES

• Higher total cost to

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Greater risk for sub-optimal

customer (margin on a

project outcome - change

margin)

order disputes and remedial

• Possible mismatch

work required

Customer bears multiple

between work required

•

and construction

costs at several stages and

capabilities hired

bears greater risk

QUANTA HAS EVOLVED AND

CONSTRUCTION-LED,AUGMENTED

WITH FRONT-END SERVICES =

ADVANCED THE APPROACH

THE QUANTA SOLUTION

THE QUANTA SOLUTION

NO INTERMEDIARY

Quanta's comprehensive solutions are construction-led from the outset, supported by front-end solutions, working directly and collaboratively with the customer to provide a complete suite of services

THE DIFFERENCE - VALUE ADDED SOLUTIONS

  • We leverage our construction expertise to lead front-end services to properly scope, design and execute projects
  • Helps facilitate on-time,on- budget project delivery

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Quanta Services Inc. published this content on 01 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2024 19:34:03 UTC.