Sterling: Sterling Infrastructure : 2025 Sustainability Report

Building Tomorrow Today THE STERLING WAY -- 2025 SUSTAINABILITY REPORT Corporate Safety People Planet Appendix Introduction Governance INTRODUCTION 04 About Sterling 05 Awards and Industry Recognition 07 Messages from Our Leaders The Sterling Way Sustaining Our Commitment Forging a Sustainable Future CORPORATE SAFETY GOVERNANCE 20 It All Starts with Safety 16 A Foundation of Integrity 21 Employee Protection and Transparency 17 Ethics and Compliance and Safety Guidance 22 Innovation and 18 Risk Management Improvement PEOPLE PLANET APPENDIX 24 People, Our Most 35 Protecting Our Environment 44 About This Report Precious Resource Starts Before Construction 45 Sterling Internal and 25 A Holistic Approach Even Begins 36 External Stakeholders to Employee Health Applying Technology 46 Our Actions and Initiatives and Wellness To Reduce Environmental 26 Developing Future Impacts 47 SASB Framework: Leaders 37 Sustainable Investments Engineering and 28 Supporting Our 38 Clean Water and Construction Services 48 TCFD Recommended Communities Sanitation-Related Projects 31 Investing in Future 39 Projects in Environmentally Disclosures 49 Sustainability Reporting Generations Sensitive Areas 42 Revitalization and Recycling Roadmap This report provides Environmental, Social and Governance (ESG) information to stakeholders. Report release date: 3/20/2025, reflects activity beginning in 2020. We intend to provide annual updates to this report and periodic updates on our website, strlco.com . The data in this report are unaudited. Texas Sterling Construction (TSC) (Transportation Solutions) was a contractor at this project site. The Sterling Way - 2025 Sustainability Report 2 Introduction Corporate Safety People Planet Appendix Governance In This Section 04 About Sterling 05 Awards and Industry Recognition 07 Messages from Our Leaders 12 The Sterling Way 13 Sustaining Our Commitment 14 Forging a Sustainable Future Ralph L. Wadsworth (RLW) (Transportation Solutions) project site The Sterling Way - 2025 Sustainability Report 3 Introduction Corporate Safety People Planet Appendix Governance About Sterling Sterling Infrastructure, Inc. ("Sterling" or "the Company") operates through a variety of subsidiaries within three segments specializing in E-Infrastructure, Transportation and Building Solutions in the United States, primarily across the Southern, Northeastern, Mid-Atlantic and Rocky Mountain regions and the Pacific Islands. E-Infrastructure Solutions provides advanced, large-scale site development services for data centers, manufacturing, e-commerce distribution centers, warehousing and more. Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, rail and storm drainage systems. Building Solutions includes residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs, other concrete work and plumbing services and surveys for new single-family residential builds. From strategy to operations, we are committed to sustainability by operating responsibly to safeguard and improve society's quality of life. Caring for our people and our communities, our customers and our investors - that is The Sterling Way. "We build and service the infrastructure that enables our economy to run, our people to move and our country to grow." - Joe Cutillo, CEO For more information about Sterling, visit our website at strlco.com . The Sterling Way - 2025 Sustainability Report 4 Introduction Corporate Safety People Planet Appendix Governance Awards and Industry Recognition Sterling Corporate Forbes 2025 #12 Most Successful Mid-Cap Companies Investors Business Daily Best Companies of 2024 Institutional Investor #3 2024 Best CEO, Best CFO, Best IR Professional, Best IR Program, Best IR Team Chronicle 100 #16 2024 2024 ENR Lists Sterling Corporate #41 #59 #66 #167 Sterling Subsidiaries Plateau Excavation, Inc. #1 Plateau Excavation, Inc. #73 Petillo Companies #161 Top 50 Domestic Heavy Contractors Top 400 Contractors Top 100 Contractors by New Contracts Top 250 Global Contractors Top 20 Firms in Excavation Top 600 Specialty Contractors ENR Project Awards Banicki Construction, Inc. 2024 ACEC Arizona Engineering Excellence Award, Beale Street Streetscape Revitalization CMAR, Arizona Ralph L. Wadsworth Construction Company, LLC (RLW) 2024 Infrastructure Construction Excellence Award, Colorado Contractors Association 2024 Mountain States Regional Best Highway, Best Bridge Project, I-80/I-215 2024 ACI Intermountain Chapter Excellence Award in Concrete Awards Program, I-80/I-215, and Parlay's Trail projects, Utah The Sterling Way - 2025 Sustainability Report 5 Introduction Corporate Safety People Planet Appendix Governance Safety Awards E-Infrastructure Solutions Petillo Plateau + 2024 UTCA Contractors Safety Award + Received 43 Client Safety Awards in 2024 + 2024 New Jersey Work Zone Safety Excellence Award Pages 5 and 6 list some of the most recent awards Sterling and Sterling subsidiaries have received. Associated General Contractors of America (AGC) American Council of Engineering Companies (ACEC) American Road & Transportation Builders Association (ARTBA) Engineering News-Record (ENR) Forbes 2025 America's Most Successful Mid-Cap Companies annual list Chronicle 100, publicly traded companies in the Houston area ranked using performance criteria (total revenue, annual growth in earnings per share, annual revenue growth and one-year total return) Extel (formerly Institutional Investor Research) 2024 All-America Executive Team, Midcap rankings ($2B to $10B) within company's sector Investor's Business Daily® a Dow Jones affiliate Utility & Transportation Contractors Association (UTCA) Transportation Solutions RLW 2024 5-Star Diamond Award, AGC Utah 2025 AGC Construction Safety Professional of the Year, AGC - The Construction Association 2024 AGC Construction Safety Excellence, AGC - The Construction Association Banicki 2024 Arizona AGC Safety Professional of the Year, AGC - The Construction Association, Arizona Chapter 2024 National AGC Award, National Associated General Contractors of America Texas Sterling Construction (TSC) 2024 Sapphire Status Certificate, BCSP Certification Champions Program 2024 AGC Construction Safety Excellence, AGC - The Construction Association 2024 ARTBA National Safety Award, Medium Contractor The Sterling Way - 2025 Sustainability Report 6 Introduction Corporate Safety People Planet Appendix Governance A Message from Our Chief Executive Officer, Joe Cutillo In today's rapidly evolving world, infrastructure is the backbone of progress. Sterling is playing a crucial role in building the data infrastructure that enables our increasingly interconnected way of life, the manufacturing production coming back to the United States, the highways, bridges and airports that connect us and the homes we live in. For Sterling, 2024 was another great year. To our shareholders, we delivered another year of record results, with revenue growth of 7%, adjusted EBITDA growth of 23% and adjusted EPS growth of 37%. With the opportunities we are seeing ahead and our continued focus on margin expansion, we believe we are in an excellent position to deliver strong earnings growth in the years ahead. We are extremely excited about what the future holds for Sterling. This year's report showcases our company-wide efforts to build a better future. Our people implement real change through sustainability-focused initiatives, partnerships and engagements that go beyond our organization. Some of the ongoing initiatives within our operations include testing next-generation heavy equipment for the largest yellow iron suppliers and exploring new technologies on and off project sites. Beyond reducing emissions across our fleet, these endeavors allow for early access to enhanced, fuel-efficient equipment and help our partners improve their next-generation machines. By testing new technologies, we are able to bring innovative solutions to our projects and service our customers in a more sustainability- minded manner. These are just a few examples of our current initiatives, but there is still much more to be done. Moving forward in 2025 and beyond, we remain committed to incorporating new and innovative sustainable solutions across our business. Joe Cutillo, CEO The Company defines EBITDA as GAAP net income from continuing operations of $257.5M + depreciation and amortization of $68.4M - net interest income of $2.4M + taxes $87.4M for an EBITDA of $410.9M for the year ended December 31, 2024. The Company defines Adjusted EBITDA as EBITDA - the net gain on deconsolidation of subsidiary of $91.3M + acquisition related costs of $0.4M for Adjusted EBITDA of $320.0M. The Company defines adjusted net income from Continuing Operations as GAAP net income from Continuing Operations of $257.5M excluding the impact of the net gain on deconsolidation of subsidiary of $91.3M + acquisition related costs of $0.4M + the income tax impact of these adjustments of $23.3M for adjusted net income of $189.9M. The tax impact of adjustments is determined by using the Company's quarterly and annual effective tax rate, as applicable, unless the nature of the item requires application of a specific tax rate. Adjusted net income of $189.9M ÷ diluted weighted average common shares outstanding of 31.146M for Adjusted EPS of $6.10. We remain focused on and committed to our strategic vision to solidify the base, grow in new high-return markets and deliver more value to our customers than ever before. 2024 revenue growth of 7% Adjusted EBITDA increased 23% in 2024 Adjusted EPS growth of 37% Operating cash flow generation $497.1 million Net cash position $347.9 million at 12/31/2024 At Sterling, we build and service the infrastructure that enables our economy to run, our people to move and our country to grow. Joe proudly serves on the Board of the American Road & Transportati