#1QUANTA Repeatable. Sustainable. RESILIENT UD Saty 221A ore va Investor Presentation November 27, 2023 A Leading Energy Transition Infrastructure Solutions Provider#2NOTICE TO INVESTORS 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, 2022, 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. The information contained in this document has not been audited by any independent auditor. This presentation is prepared as a convenience for securities analysts and investors and may be useful as a reference tool. Quanta may elect to modify the format or discontinue publication at any time, without notice to securities analysts or investors. QUANTA Page 2#3KEY TAKEAWAYS QUANTA 1 2 3 4 LO 5 6 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 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 project risks and ensure efficiency, safety and cost-certainty for our customers Infrastructure opportunities are significant and sustainable. Quanta has 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 modernization, system hardening, renewable generation expansion and integration, electric vehicles, electrification, communications/5G and outsourcing Our portfolio approach has resulted in a strong historical growth and financial profile with continued opportunity for growth, improved profitability and solid cash flow over a multi-year period QUANTA Page 3#4WHO IS QUANTA SERVICES? Leading Specialty Infrastructure Solutions Provider 聰 Recognized market leader in the utility, renewable, communications and energy Growing Total Addressable Market (TAM) driven by megatrends with expanding market share across all three segments 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 BECAUSE WE CARE Industry leading safety and training results and programs infrastructure industries Entrepreneurial business model and culture Est. 74% of 2022 revenues from utilities and renewable energy developers Strong scope and scale with deep customer relationships. Est. ~90% of 2022 revenues from repeatable and sustainable activity QUANTA Strong financial profile ~14% +12% ~18% 2010-2022 (1) Refer to appendix for a reconciliation of this non-GAAP financial measure to its most directly comparable GAAP measure. Revenue CAGR Adj. EBITDA (1) CAGR Adj. EPS (1) CAGR Page 4#5QUANTA IS FOCUSED ON LONG-TERM CORPORATE RESPONSIBILITY AND SUSTAINABILITY PEOPLE PLANET PRINCIPLES • • • 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 • • 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-leading reputation for environmental stewardship during its projects Partnership with General Motors to incorporate a significant number of Chevrolet Silverado EVs into our fleet • Board-level oversight of ESG-related matters Experienced and Diverse Board of Directors - 45% gender/ethnic diversity sps 20% of 2023 target annual cash incentive and 20% of 2023 target LTIP linked to achieving safety and sustainability goals 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 MSCI AA ESG RATINGS CCC B BB BBB A AA AAA Quanta's MSCI ESG rating as of 2021. The use by Quanta or any MSCI ESG Research LLC or its affiliates ("MSC) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion or Quanta by MSCI. MSCI services and data are the property of MSCI or Its information providers and are provided 'as-is' and without warranty. MSCI names and logos are trademarks or service marks of MSCL QUANTA Quanta's 2022 Corporate Responsibility Report https://sustainability.quantaservices.com Page 5#6KEY STRATEGIES FOR SUSTAINABLE SUCCESS Grow Base Business Improve Margins Expand Service Offerings Develop Craft Skilled Labor Disciplined & Value Creating Capital Deployment +$11B Estimated increase in base business revenues (1) from 2016-2023E (based on midpoint of 2023E revenues) Represents +16% CAGR Est. to account for +85% of 2023E revenues Base business growth has increased earnings stability Consolidated Adjusted EBITDA Margin (2) 9.5% 7.6% 2016 2023E Exited LATAM and other international operations to focus on North America and Australia Opportunity for continued improvement of Underground Utility & Infrastructure Solutions segment margins going forward Strategic initiatives designed to improve margins and returns across the portfolio Acquired leadership position in renewable generation infrastructure solutions BLATTNER Oct. 2021 COMPANY Acquisition Acquired a leading gas LDC services presence in the New York metro market with the acquisition of 2019 Acquisition Largely organic expansion of U.S. communications services market, supplemented with select acquisitions Acquired a leading position in downstream industrial services STRONGHOLD 2017 -Companies- Acquisition +$150M incremental investment in training and safety Including the strategic acquisition of Northwest Lineman College (NLC) NLC 2018 Acquisition Incremental job training for +26,000 people at Quanta facilities in 2022, including employees and industry personnel +67% from 2016 47,300 YE employee count (2022) Strategic initiatives with trade associations, unions, universities and military programs, driving labor pool diversity Working capital to support differentiated self-perform model and growth ~$3.6B Cash for acquisitions and strategic investments that further our strategic goals from 2018-2022 ~$955 mm Repurchases of PWR stock since 2017 ($500 million available under stock repurchase authorization as of the end of 3Q23) Initiated quarterly cash dividend in 1Q19. Have since increased by 100% (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 Infrastructure Solutions segment includes renewable generation contracts for Blattner and other renewable related projects less than $100 million in contract value. QUANTA (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 2023E adjusted EBITDA as of November 2, 2023. Page 6#7STRONG, CONSISTENT FINANCIAL IMPROVEMENT DRIVEN BY KEY OBJECTIVES Grow Base Business Improve Margins Expand Service Offerings Revenue $bn $20.25 (1) +13% CAGR Adjusted EPS (2) (1) $7.57 +26% CAGR $7.10 $1.11 2015 2023E 2015 2023E Adjusted EBITDA (2) $mm Adjusted EBITDA Margin (2) (1) ~18% CAGR $1,931 (1) +260 bps 9.5% 6.9% $526 Develop Craft Skilled Labor ROIC (2) Disciplined & Value Creating Capital Deployment QUANTA 2015 2023E 2015 +500 bps 10.0% 5.0% 2015 2022 2023E (1) Based on the midpoint of Quanta's 2023E financial outlook provided on November 2, 2023. (2) Refer to appendix for a reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure. Page 7#8HOW WE ARE DRIVING LONG-TERM, SUSTAINABLE VALUE CREATION Key Strategies QUANTA Grow Base Business Improve Margins Expand Service Offerings Develop Craft Skilled Labor Portfolio Approach Disciplined & Value Creating Capital Deployment 5% to 8% Organic Revenue CAGR Double Digit Adjusted EBITDA Margins EPS Growth > Revenue Growth Double Digit ROIC Sustainable Cash Flow Generation Strategic Acquisitions Return of Capital Actual Performance Through the Cycle, 2010 - 2022: • Revs. CAGR of ~14% • Adj. EBITDA CAGR (1) of +12% • 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. Page 8#9HIGH-QUALITY AND DIVERSE CUSTOMER BASE WITH CRITICAL ASSETS LOW CUSTOMER CONCENTRATION SELECT CUSTOMERS - Many of Our Customer Relationships Span Decades PG&E Electric Power AMERICAN ELECTRIC POWER entergy ATCO DUKE ENERGY. CenterPoint. Energy EDISON Southern Company INTERNATIONAL EDF ENGIE renewables INNERGEX Invenergy Largest customer accounted for ~9% Top 10 customers accounted for -36% Renewable Generation Clearway MIDAMERICAN ENERGY COMPANY. AT&T Communications of 2022 revenues of 2022 revenues QUANTA TDS telecom NEXTera ENERGY Bell CC CROWN CASTLE Origis Energy Orsted Pattern CenturyLink™ COMCAST Google Fiber verizon bp Underground Utility & Infrastructure Solutions SOUTHWEST GAS Dominion Energy™ PUGET PSE SOUND ENERGY nationalgrid ENBRIDGE Valero TC Energy Enterprise Products Partners L.P. We provide services across our reporting segments to most of the customers listed Page 9#10COLLABORATIVE AND COMPREHENSIVE SOLUTIONS TRADITIONAL APPROACH Customer identifies need for 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 customer (margin on a margin) • Possible mismatch between work required and construction capabilities hired • Greater risk for sub-optimal project outcome - change order disputes and remedial work required Customer bears multiple costs at several stages and bears greater risk QUANTA HAS EVOLVED AND ADVANCED THE APPROACH 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 CONSTRUCTION-LED, AUGMENTED WITH FRONT-END SERVICES = THE QUANTA SOLUTION > 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 QUANTA Page 10#11CONSISTENT AND GROWING SPEND FROM TOP CUSTOMERS Driving Repeatable, Consistent Revenue Through Deep and Collaborative Customer Relationships $8 Top 20 Customers Based on 2022 Base Business Revenues (1) Top 20 Utility Customers Based on 2022 Base Business Revenues $ Billions $7 $6 23% CAGR $5 $4 $3 $2 $1 $0 2018 2022 Base Business Revenues $ Billions $7 $6 20% CAGR $5 $4 $3 $2 $1 $0 2018 2022 Base Business Revenues QUANTA (1) Base business is driven by multi-year trends and multi-year spending programs, which generally have minimal 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 Infrastructure Solutions segment includes renewable generation contracts for Blattner and other renewable related projects less than $100 million in contract value. Page 11#12MASSIVE AND GROWING ENERGY TRANSITION TAM DRIVEN BY MEGATRENDS Estimated Annual Required Global Green Capex in the 2020s to Support Net Zero Goals Carbon Capture Utilization & Storage $90BN ⚫From Fossil Fuels • Direct Air Capture • From Biofuels • CO2 Transportation Nuclear Generation $90BN NET ZERO $3.0TN Low Emission Fuels $132BN • Biogas (RNG) • Hydrogen w/ CCUS ⚫Liquid Biofuels • Hydrogen Electrolysis Hydrogen End Use $49BN • Gas Grid Blending Electricity Generation •Other (incl. FCEV) Battery Storage $52BN Hydrogen Infrastructure $7BN ⚫ Pipelines/Storage ⚫Hydrogen Stations • Public Stations EV Chargers $38BN Renewables $1.15TN • Solar PV Onshore Wind • Residential Solar Offshore Wind ⚫ Other (Hydroelectric/ Geothermal) QUANTA Source: Goldman Sachs Sustain Electrification $302BN • EV Car, Truck, Bus & Van • Electric/ Hydrogen Rail • SAF Aircraft • Electric Arc Steel ⚫Buildings/Heat Pumps Energy Efficiency $610BN ⚫ICE Vehicles ⚫ Appliances ⚫ HVAC • Direct Reduced Iron Primary Chemicals Electricity Grids $523BN ⚫Refurbishment • Digitization • Zero Carbon Buildings • Expansion • Substations Areas of opportunity for Quanta Page 12#13ELECTRIC POWER LEVERED TO MEGATRENDS THAT PROVIDE MULTIPLE PATHS FOR GROWTH Leveraging our Solutions Portfolio, the Continued Successful Execution of our Strategic Initiatives and Megatrend Drivers Provide Multiple Paths for Near- and Long-Term Profitable Growth System Modernization Grid Redundancy/Resilience Overhead and Underground System Hardening Capacity Additions and Expansions EV Charging and Associated Grid Enhancements 5G, Broadband, Data/Bandwidth Intensive Technology RENEWABLE ENERGY Solar Power Wind Power Battery Storage High-Voltage Transmission and Substations Hydro Power UNDERGROUND UTILITY System Modernization Emission Reduction and Environmental Compliance Carbon Capture Hydrogen Infrastructure Renewable Natural Gas and Biodiesel QUANTA SYSTEM MODERNIZATION AND RESILIENCY ELECTRIFICATION AND DECARBONIZATION ENABLING TECHNOLOGY Page 13#14QUANTA 20 20 AGING UTILITY WORKFORCE CONTRIBUTES TO OUTSOURCING TREND Additive Long-Term Tailwind % T&D workload outsourced (over time) Outsourcing is expected to increase across electric and gas utilities over the next five years • 60% 40 40 5 years ago Current Next 5 years Small transmission 5 years ago Current Next 5 years Electric distribution Source: Confidential consultant and industry sources 5 years ago Current Next 5 years Tight labor market for lineman and other skilled employees Quanta is focused on recruiting, training and developing a strong and capable workforce to support our growth and serve our customers Utility Industry Employee Attrition Contributes to Outsourcing Avg. Annual # of Utility Employees (000s) 620 600 580 560 540 520 500 Gas distribution 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Source: U.S. Bureau of Labor Statistics 2023 YTD 2031E Page 14#15INDUSTRY-LEADING TRAINING IS A COMPETITIVE DIFFERENTIATOR Dedicated Training Facilities CA ID TX SC FL High and increasing demand for craft skilled labor as infrastructure investment grows Quanta has taken ownership of our employee recruitment, training and retention strategies to help ensure we meet customer needs Quanta has incrementally invested +$150 million in strategic training initiatives QUANTA ORTHWEST NLC TES FORMALIS DOCTEM ***** 進 Northwest Lineman College (NLC) - Postsecondary education institution that has provided world-class electric training curriculum for +25 years. Added communications and gas distribution curriculum Quanta Advanced Training Center - World-class 2,300 acre training facility. Up-training employees to advanced capabilities in all industries BROTHER THERMOOD OF ELECT Ę Powering Great Minds TERNATIO **** STENCON NECA NATIONAL ELECTRICAL CONTRACTORS ASSOCIATION CONTRACTORS PIPELINERS Military Veteran Recruiting Urban Workforce Development Program SH Sam Houston State Univ. Partnership - Workforce Development Program for middle management resources UNION 798 UNITED ASSOCIATION Ongoing Union & Trade Relationships CUSW (representative) Page 15#16CONSTRUCTION-LED INFRASTRUCTURE SOLUTIONS THROUGH PORTFOLIO APPROACH 48% Revenues - 2023E(1) Electric Power Infrastructure 29% Solutions Renewable Energy Infrastructure Solutions Underground 23% Utility & Infrastructure Solutions Transmission Distribution Substation Engineering Services Program Management Gas Distribution Pipeline Integrity Downstream Industrial Services + Energized Services Emergency Restoration Engineering Services Wind Storage Solar Storage Facilities Compression, Horizontal Metering & Pumping Directional Drilling Stations Program Management QUANTA DESIGN Smart Grid Communications ENGINEERING Transmission Substation PROJECT MANAGEMENT Pipeline Midstream Pipeline Mainline Pipeline INSTALLATION MAINTENANCE Logistics Management REPLACEMENT (1) Based on the midpoint of Quanta's 2023E financial outlook provided on November 2, 2023 Page 16#17REVENUE MIX - STRATEGICALLY FOCUSED, OPERATIONALLY DIVERSE ~90% of 2022 Revenues Came From Utilities, Renewable Developers, Communications and Industrial Customers, Which Provide Visible and Growing Multi-Year Capital Programs 2022 Consolidated Revenue = $17.1 Billion Electric Power Infrastructure Solutions Segment 52% 2022 Revenue By Segment Renewable Energy Infrastructure Solutions Segment 22% Underground Utility & Infrastructure Solutions Segment 26% 2022 Revenue By Customer Type (Est.) Renewable Developers 7% Utility 67% Comms. 6% Industrial 9% Energy Other 4% Delivery 7% Utility Customers that are electric and/or gas utilities = Renewable Energy Developers = Non-utility customers that develop renewable energy solutions Communications = Customers that own and/or operate assets supporting delivery of data, communications and digital services Industrial = Customers that own and/or operate refinery, chemical and industrial plants and other commercial or manufacturing facilities Energy Delivery = Customers that own and/or operate pipelines for the delivery of hydrocarbons Other Customers that are not accurately described by the other categories QUANTA Page 17#18BASE BUSINESS ACTIVITY Large Portion of Revenues are Visible and Consistent Base Business Tends to Follow Industry Drivers and Customer Investment Trends, Which are Longer Term in Nature Est. '22-'26 Consolidated Organic Revenue CAGR = 5%-8% (1) QUANTA BASE BUSINESS: • • . Repeatable, sustainable revenues Primarily electric and gas utility spend BASE RENEWABLES: Recurring and visible renewable generation projects NOT BASE BUSINESS: • • Emergency restoration services Large scale, multi-year electric transmission and pipeline projects Contract value typically >$100mn for transmission and pipeline projects ~95% of segment ~90% of segment ~90% of segment 5%-10% CAGR 10%-12% CAGR 5%-7% CAGR Electric Power Infrastructure Solutions Renewable Energy Underground Utility Infrastructure Solutions ■Base Business & Infrastructure Solutions ■Not Base Business (1) Estimated as of April 5, 2022 Page 18#19PORTFOLIO APPROACH AND DIVERSITY OF REVENUE HELPS MITIGATE RISK Superior Risk Profile Fiscal Year 2022(1) Estimated Revenue by Geography Estimated Revenue by Project Type Estimated Revenue by Contract Type Large Project Unit Price 35% Cost Plus & Other 22% United States 84% Canada 12% Australia 3% Repair, Replace & Upgrade -49% New Construction ~51% Other 1% *Master Service Agreements (MSA) account for 46% of total revenues QUANTA (1) Revenues by geography, project and contract type are based on revenues of $17,074 million for the twelve months ended Dec. 31, 2022. Fixed Price 43% Est. avg. contract value <$4mm Page 19#20QUANTA ELECTRIC POWER & COMMUNICATIONS MY BQ? 園 Page 20#21TRANSITION TO ADVANCED UTILITY MODEL HAS DRIVEN SPENDING Utility Industry is a Large, Attractive and Visible Addressable Market Advanced Integrated Utility Model Transmission Distribution Generation Pipelines U.S. Investor-Owned Electric Company CapEx $155 B (2) $32 Gas Distribution Renewables Communications 則」 P Heavy investment focus on electric transmission and distribution Reduced fossil fuel generation investment in favor of renewable generation Electric utilities acquiring gas utilities for grid modernization/growth opportunities Aging utility workforce and historically high spending is increasing outsourcing – estimated to increase to >50% over next 5 years (1) Some utilities investing in natural gas midstream pipeline infrastructure Expanding service territory via M&A (1) Sources: Consultant and industry sources. QUANTA +$105 B (2) 5% 5% $51 Quanta Core Addressable Quanta Annual Market 65% Core Solutions +$105B ~$80 B $22 $2 $11 Quanta Focused $37 On Renewables 25% Elec. Transmission 2022E Regulatory Compliance Other Generation Elec. Distribution Gas Related Engineering & Prog. Mgt. Permitting (2) Sources: Edison Electric Institute and Quanta estimates Craft Skilled Labor & Equipment Materials Page 21#22QUANTA SIGNIFICANT GRID MODERNIZATION AND HARDENING Widespread Need for Grid Modernization and Hardening - Maintenance, Upgrade, Repair and Replacement Representative Utility - Projected Transmission Circuit Miles Replaced/Upgraded and Total Projected Investment REPLACEMENTS/UPGRADES (CIRCUIT MILES) 6,000 50 years 60 years 5,000 Age 70 years 80 years 4,000 3,000 2,000 1,000 ($ in millions) (1) $15,000 $12,500 $10,000 $7,500 $5,000 $2,500 0 $0 1990 1994 1998 2002 2006 2010 2014 2018 1022 2026 2030 2034 2038 2042 J (1) Source: Americans for a Clean Energy Grid, "Planning for the Future", Jan. 2021 INVESTMENT ($MILLION) From 2022- 2042, an aggregate investment of +$240 billion required for this representative utility to replace and upgrade +96,000 circuit miles of transmission line Page 22#23ELECTRIFICATION AND ELECTRIC VEHICLES Movement Towards A Reduced-Carbon Economy Will Require Significant Power Grid Investment Over the coming decades, developed economies are expected to increasingly utilize electricity to meet carbon reduction/neutrality goals Vehicle electrification offers a large carbon-reduction opportunity, in addition to residential and commercial space and water heating and industrial and agricultural electrification Depending on electrification adoption rates, increased demand for electricity could require new power generation of: Electrification Adoption (%) 100% Electrification Adoption Rates (1) ■Industrial/Agriculture ■Residential/Commercial 80% ■Transportation 60% 40% 20% 0% 2030 2050 2030 2050 Base Electrification Case High Electrification Case Annual Incremental Transmission Investment due to Electrification (2) QUANTA • 70 GW to 200 GW by 2030 • An additional 200 GW to 800 GW from 2030 to 2050 • Assumes 75% to 90% of new generation will come from renewables Could increase load growth by ~1% annually through 2050(2) Estimated that U.S. will require $30B-$90B of incremental transmission investment by 2030 and an additional $200 B-$600B from 2030 to 2050 (2) (1) Source: Wires Group "The Coming Electrification of the North American Economy", Mar. 2019 (2) Source: Wires Group "Informing the Transmission Discussion", Jan. 2020 Annual Transmission Investment ($ billion/year) $50 Historic Inv. Incremental Investment $25B/year $40 $30 $7B/year $7B/year Transmission for Peak Load Growth Transmission for Renewable Capacity $20 $3B/year $10 $0 10-Year Average 2018 to 2030 2031 to 2050 2018 to 2030 2031 to 2050 Base Electrification Case High Electrification Case Notes: The historical average reflects transmission investments from 2006 to 2016 based on transmission capital expenditures reported on FERC Form 1. Page 23#24PUERTO RICO ELECTRIC T&D SYSTEM OPERATION & MAINTENANCE LUMA Energy - A Transformative Opportunity LUMA Energy, LLC (LUMA), 50% owned by Quanta and 50% owned by ATCO, was selected in June 2020 for this historic opportunity - the transformation and modernization of the Puerto Rico electric transmission and distribution (T&D) system, which is designed to provide significant benefits to the people of Puerto Rico - through an Operation and Maintenance Agreement (O&M Agreement) with the Puerto Rico Electric Power Authority (PREPA) and the Puerto Rico Public-Private Partnerships Authority (P3) LUMA is a purpose-built company that leverages the strengths of Quanta, ATCO and IEM, including world-class utility operations; craft-skilled labor training and management; and federal funds procurement, management and deployment LUMA's O&M Agreement is consistent with Quanta's long-term strategy and represents successful collaboration with a customer to deliver unique infrastructure solutions that can serve as a blueprint for future opportunities LUMA commenced operation and maintenance of the T&D system in June 2021 under an interim services agreement During the interim services period, LUMA earns a fixed fee, and during the primary 15-year term under the O&M Agreement, LUMA is scheduled to receive a fixed annual fee, with the opportunity to earn annual incentive fees based on achievement of performance metrics PREPA retains ownership of the electric T&D system, and LUMA is not required to make its own capital investments in the system Electric T&D system operating costs and capital expenditures are pass-through and paid from pre-funded service accounts. Quanta believes there could be opportunity for it to compete for work associated with Puerto Rico's grid modernization efforts that is separate from its ownership interest in LUMA. QUANTA Page 24#25COMMUNICATIONS INFRASTRUCTURE SERVICES Compelling and Complementary Growth Opportunity Goals Multi-Year Drivers / Opportunities QUANTA To be a leading communications infrastructure solutions provider in the markets we serve Opportunity for +$1 billion annual revenues in the medium-term 1 2 L 3 Growth Strategies Opportunity for 10%+ operating income margins Primarily organic growth and greenfield expansion Select strategic acquisitions play a role, but NOT a roll-up approach Leveraging existing U.S. field operations people, equipment and property Focused on wireline, fiber and small cell services; recently expanded into traditional wireless services (i.e., macro cell sites) Increasing convergence of wireless and wireline due to fiber requirements of both Project-centric, nimble approach as opposed to MSA-focused approach (greater asset intensity). EPC services to differentiate Less capital intensive with better margin opportunity Ongoing core fiber network enhancement Continued 4G fiber backhaul densification 5G fiber backhaul and backbone buildout 5G small cell deployment Macro tower 4G optimization and 5G deployment Electric utility network utilization for deployment of 5G Rural Digital Opportunity Fund Page 25#26ENABLING TECHNOLOGY Quanta is Uniquely Positioned Connectivity of Everything Quanta is Uniquely Positioned For advanced technologies to work, it requires infrastructure. Technology is advancing faster than required infrastructure. Quanta is uniquely positioned to provide critical infrastructure services that enable the technologies of tomorrow. Applicable Infrastructure Requirements 59) 5G and Mobility IQT Autonomous Vehicles A.I./ Cloud/ Data Centers Internet of Things & Connected Objects Smart Cities QUANTA Electric Power 4 Communication 3 Page 26#27QUANTA RENEWABLE ENERGY INFRASTRUCTURE SOLUTIONS 4 Page 27#28RENEWABLE ENERGY INFRASTRUCTURE SOLUTIONS Significant Upgrading of Transmission and Grid Infrastructure Required to Support Renewable Energy Growth U.S. Renewable Electricity Generation Annual Energy Outlook 2022 - Reference Case (1) Billion kilowatt hours Est. $14T in Global Grid Investment Required by 2050 to Support Renewable Generation 2021 3,000 history projections 2,500 700 2,000 51% 600 500 1,500 400 19% 1,000 31% 300 43% 200 500 -2% 2% 30% 12% 100 -7% 0 -4% 0 2010 2020 2030 2040 2050 2020 Solar Geothermal Other Wind Hydroelectric QUANTA Global Annual Electric Grid Investment ($B)(2) 2025 ■New connections Est. Incremental Transmission Requirements in the U.S. Through 2050 (3) (million MW-mile) 400 VCE 350 300 Existing transmission is estimated at 152 million MW-miles in 2018 250 200 150 100 50 0 2030 2035 2040 2045 2050 2020 Network reinforcements Replacements 2025 Business As Usual 2030 2040 2050 2035 2045 Clean Electricity (95%) Economy-Wide Clean Energy (95%) (1) U.S. Energy Information Administration (2) As of Feb. 23, 2021; Source: BloombergNEF (3) Source: Vibrant Clean Energy, LLC Page 28#29RENEWABLE ENERGY INFRASTRUCTURE SOLUTIONS Inflation Reduction Act (IRA) Expected to Drive Significant Renewable Generation and Related Investment Est. Incremental Energy Spending from the IRA (1) Expected Decarbonization Capital in the U.S. Mobilized by the IRA (2) Annual Installation of Renewable Energy Assets by Technology: 2015-2030E, in GWs (3) 10 10 Budgetary effect of Federal energy tax incentives (US$, bn) 30 80 40 60 50 Existing law ■Inflation Reduction Act 0 2010 2011 2012 2013 2014 20 Est. incremental energy spending from the IRA 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 Electricity Transmission, 31% Non-tax related energy/climate incentives, 7% Renewables, 41% Clean Energy Capital mobilized by IRA $ 1.6 tn Other clean technologies tax incentives, 20% Renewables - Annula Installations (GW) QUANTA (1) US Dept. of Treasury, Congressional Budget Office, Goldman Sachs Global Investment Research (2) Congressional Budget Office, Princeton University, Goldman Sachs Global Investment Research (3) EIA, S&P Global, Goldman Sachs Global Investment Research 90 80 ■Onshore Wind Offshore Wind 70 ■Solar Utility-Scale ■Solar -- Distributed 60 ■ Other 50 22 122 O 40 30 20 2015 2016 2017 2018 2019 2020 2021 2022E 2023E 2024E 2025E 2026E 2027E 2028E 2029E Page 29 2030E#30ACQUISITION OF BLATTNER - STRATEGIC RATIONALE Premium Solutions Provider to the Renewable Energy Industry With A Market Leading Position & Attractive Financial Profile 1 Enhanced alignment with energy transition trends and access to the attractive wind, solar and energy storage markets, which are poised for significant decades-long growth as North America moves towards a reduced-carbon economy 2 Gives Quanta a leading position to collaborate with customers on their energy transition initiatives and to provide infrastructure solutions to the utility-scale renewable energy market and a strong platform to capitalize on long-term growth 3 4 Fits our strategy of delivering visible and recurring revenue and earnings through leveraging established relationships with customers, operational excellence and long-term growth outlook for renewable energy Experienced leadership team and strong cultural fit with Quanta - entrepreneurial mindset with shared focus on safety, quality and customer service BLATTNER COMPANY Acquired Oct. 2021 QUANTA 7 6 LO 5 Provides a technologically diverse, proven and successful "pure play" operator that is complementary to Quanta's industry leading Electric Power Infrastructure Solutions business Diversifies Quanta's customer base while creating new growth opportunities with existing customers. Blattner's strong and longstanding customer relationships are expected to drive ongoing and repeat business Expected to provide significant multi-year growth opportunities, enhanced cash flow conversion and highly visible backlog Enhances Quanta's already favorable ESG profile 00 Page 30#31BLATTNER - MARKET LEADER & PREMIER PARTNER Extensive Track Record of Successful Project Execution Across Renewable Technologies О о 00 O O © O O O ° ° ° Blattner has enhanced Quanta's capabilities and geographic reach Blattner has installed ~60 gigawatts of the total ~227 gigawatts of utility-scale renewable capacity installed in the United States (1) US Energy Storage Projects 500-999 MW 100-499 MW 500-999 MW (1) As of December 31, 2022 ° 909 о ° 0 go US Wind Projects Canada Wind Projects Solar Projects 500-999 MW 100-499 MW 500-999 MW 100-499 MW 50-99 MW 100-499 MW 50-99 MW 50-99 MW 50-99 MW 5-49 MW 5-49 MW Under 5 MW Under 5 MW 5-49 MW Under 5 MW 5-49 MW Under 5 MW Page 31#32DEEP RELATIONSHIPS WITH LEADING RENEWABLES DEVELOPERS Blattner Has Strong & Longstanding Relationships That Have Driven Repeat Business Select Customers Revenues from Repeat Customers NEXTera ENERGY eDF renewables ENGIE INNERGEX Clearway Orsted MIDAMERICAN ENERGY COMPANY Pattern Invenergy 100% Wind 80% NEXTera ENERGY eDF renewables ENGIC AVANTUS RECURRENT ENERGY 60% Orsted RWE Invenergy Clearway Origis Energy™ Solar 40% Storage QUANTA NEXTera ENERGY Orsted EDF renewables AVANTUS™ 20% 94% 100% 100% 98% 0% 2019A 2020A 2021A 2022A ■Repeat Customer Revenue Blattner typically performs work on a portfolio of +40 projects per year Page 32#33QUANTA UNDERGROUND UTILITY & INFRASTRUCTURE SOLUTIONS F Page 33#34UNDERGROUND UTILITY & INFRASTRUCTURE SOLUTIONS Strategic Focus on Base Business Strategy Create a more sustainable and consistent operation Increase and gain scale of base business services Services and geographic diversity Opportunistic pursuit of larger pipeline projects that meet our risk and margin parameters Focus Services Gas LDC (1) Steps Taken Organic expansion of gas utility services Expectations 2023E Underground Utility & Infrastructure Solutions Segment Revenues • Pipeline Integrity Acquisition of Hallen Construction in 2019 (gas utility services) ~80% Total Revs. -20% ~$4.75B (2) • Organic expansion of • pipeline integrity services Acquisition of Stronghold in 2017 (industrial services) Base Business Revenues Larger Project Revenues Downstream Industrial Services QUANTA (1) LDC Local Distribution Company (2) Based on the midpoint of Quanta's 2023E financial outlook provided on November 2, 2023 ~60% Total Revs. ~$4.75B (2) -40% Focus Services Revenues Remaining Services Revenues Page 34#35• UNDERGROUND UTILITY & INFRASTRUCTURE SOLUTIONS Strategic Focus on Base Business Gas LDC Services As of 2019, the U.S. natural gas distribution system consisted of more than 2.2 million miles of pipelines (1) Gas utilities are in the early stages of performing multi-decade gas system modernization programs Regulations are driving investment aimed at improving gas system reliability, safety and reducing methane emissions Modernization initiatives also position distribution systems for hydrogen delivery and consumption Provides an expected lower-risk, visible and sustainable earnings profile with the majority of revenues derived from master services agreements Quanta has expanded its service footprint and capabilities organically and through the Hallen Construction acquisition Representative Customers . • • Pipeline Integrity Services. ே There are ~544,000 miles of hazardous liquids, gas transmission and LNG pipelines in the U.S.(1) Intensifying regulations require pipeline companies to certify that their systems are operating properly based on various factors for reliability, safety and environmental purposes Newly implemented and anticipated new future pipeline safety rules are expected to drive continued investment in safety programs for pipelines for at least the next 15 years Quanta has grown its operations organically Challenges to building new mainline pipeline projects could make existing pipeline systems more valuable and could increase pipeline integrity and maintenance spending QUANTA CenterPoint. Energy nationalgrid PUGET PG&E PSE SOUND ENERGY Representative Customers CENBRIDGE KINDER MORGAN (③②) TC Energy DUKE ENERGY® Life Takes Energy™ (1) Pipeline and Hazardous Materials Safety Administration (PHMSA) PG&E Page 35#36UNDERGROUND UTILITY & INFRASTRUCTURE SOLUTIONS Strategic Focus on Base Business Downstream Industrial Services Drivers . Plant spending and upgrades have similar drivers to electric power and midstream infrastructure investments: aging infrastructure, required spend to comply with safety and environmental regulations, large and long-term supply of lower-cost hydrocarbon resources Substantial installed base of industrial facilities operating in a highly corrosive environment As plants age, critical process units' risk of failure increases significantly, requiring consistent and recurring maintenance investment – Est. 60%- 70% of annual capex Deferrals and other factors have resulted in increased turnaround activity since 2021- opportunity for reversion to mean activity levels Representative Industrial Services . • • Leading turnkey catalyst replacement service provider to refining and petrochemical industries Planned and emergency turnaround services Storage tank engineering, construction, repair, maintenance and fabrication; downstream and midstream infrastructure fabrication Turnkey downstream industrial piping maintenance, inspection, specialty mechanical and construction services $12,000 $10,000 U.S. Refiner Capital Spending $8,000 $6,000 $4,000 $2,000 $0 2014 2015 2016 2017 ($ in MM) 2018 Decline primarily due to impact of COVID-19 pandemic 2019 2020 2021 2022 ■ VLO MPC ■PSX PBF ■DINO ■DK Source: Refining customer data from S&P Capital IQ Representative Customers M DOW MARATHON Shell LBC TANK TERMINALS fj FLINT HILLS Sinclair resources ArcelorMittal Chevron Phillips Chemical Company LLC MOTIVA PLAINS ALL AMERICAN PIPELINE, L.P. Exxon yondellbasell I III II PHILLIPS 66 bp Valero Page 36 QUANTA#37• • • UNDERGROUND UTILITY & INFRASTRUCTURE SOLUTIONS Energy Delivery and Ancillary Services Drivers • Need for pipeline and related infrastructure is being driven by the significant increase in hydrocarbon availability from North American unconventional natural gas and oil production from new locations Demand for natural gas in the United States is expected to grow to support domestic use, LNG exports, exports to Mexico and for power system reliability as renewable generation (and intermittency) increases As of Feb. 2022, U.S. LNG export capacity has increased +600% since 2017(1). In response to the Russia/Ukraine war and the European Union's (EU) effort to reduce its reliance on Russian natural gas, the EU recently announced a deal with the U.S. to import 1.5 Bcf/d of LNG in 2022 and increase to 5 Bcf/d by 2030(1) Increasingly, incremental U.S. hydrocarbon production is expected to be exported to meet growing global demand As a result, significant long-term investment in pipeline and related midstream infrastructure is needed to keep pace with expected long- term hydrocarbon demand and production Pipeline construction is a good business and generates solid cash flow, but is cyclical. Quanta is not growing these operations strategically - have the resources we need QUANTA (1) Goldman Sachs Asset Management, April 2022 ENTERPRISE Production Grows The Infrastructure Spreads Infrastructure Tighten Cycle Infrastructure Built Fills Spreads Blowout Source: East Daley Capital Representative Customers CENBRIDGE EQT Life Takes Energy™ Enterprise Products Partners L.P. © TC Energy KINDER MORGAN Williams Page 37#38UNDERGROUND UTILITY & INFRASTRUCTURE SOLUTIONS Well Positioned and Actively Pursuing Energy Industry Carbon-Reduction Opportunities Gas Utilities and the Traditional Energy Industry are in the Early Stages of Adoption of Energy Transition Efforts Quanta is Supporting Customers' Strategies to Modernize their Infrastructure and to Reduce their Carbon Footprint in Order to Transition their Operations and Assets Towards "Greener" Business Opportunities Initiatives are Accelerating and Quanta is Actively Pursuing Numerous Opportunities System Modernization Methane Emission Reduction Hydrogen Blending Renewable Natural Gas Environmental Compliance Emissions Reduction Biodiesel Renewable Natural Gas Renewable Generation Hydrogen Production & Transportation Methane Emission Reduction Carbon Capture GAS UTILITIES DOWN STREAM ENERGY & MIDSTREAM COMPANIES SYSTEM MODERNIZATION AND RESILIENCY ELECTRIFICATION AND DECARBONIZATION QUANTA ENABLING TECHNOLOGY Page 38#39QUANTA BALANCE SHEET, CASH FLOW AND CAPITAL DEPLOYMENT Page 39#40(September 30, 2023) Net Debt/ Adj. EBITDA (2) ~2.2X Quanta's investment-grade credit rating, coupled with solid liquidity levels, affords management the ability to continue to opportunistically deploy capital BALANCE SHEET STRENGTH PROVIDES FLEXIBILITY Strong Financial Foundation ($ in millions) Cash and Equivalents Other Debt 0.95% Sr. Notes due Oct. 2024 2.90% Sr. Notes due Oct. 2030 2.35% Sr. Notes due Jan. 2032 3.05% Sr. Notes due Oct. 2041 Commercial Paper Term Debt Credit Facility Total Debt 12/31/2019 12/31/2020 12/31/2021 12/31/2022 9/30/2023 $ 165 $ 185 $229 $429 $305 21 40 54 70 119 500 500 500 1,000 1,000 1,000 1,000 500 500 500 500 500 500 -- 373 397 1,241 750 750 736 105 149 450 37 230 1,367 1,189 3,754 3,730 3,982 4,054 4,349 5,117 5,399 5,996 $ 5,421 $ 5,538 $8,871 $9,129 $9,978 $2,431 $2,198 $2,101 Total Equity Total Capitalization Liquidity (1) $2,007 $1,811 ($ in millions) $2,002 $2,013 $1,872 $1,702 $1,646 $165 12/31/19 $185 12/31/20 $229 12/31/21 $429 12/31/22 $305 9/30/2023 ■Cash QUANTA ■Credit Facility (Unused) (1) Liquidity includes cash and cash equivalents and availability under our senior credit facility. Available commitments for revolving loans under the senior credit facility must be maintained in order to provide credit support for notes issued under the commercial paper program, and therefore such notes effectively reduce the available borrowing capacity under the senior credit facility. (2) Calculated as defined in our credit agreement for our senior credit facility. (Includes total debt, as well as certain other items, including letters of credit.) Page 40#41CASH FLOW IS COUNTER CYCLICAL Change in Revenue vs Free Cash Flow (1)/Adjusted EBITDA (1) % Revenue Chg. 35% 30% 25% 20% 15% 10% 5% 0% -5% -10% -15% For the Years Ending December 31, 2014 2015 2016 2017 2018 2019* 2020 Pro Forma 90% 80% 70% Midpoint(2) 60% Guidance 2021 Midpoint(³)50% Guidance 40% Midpoint(3) 30% 2022** 2023E FCF/Adjusted EBITDA 20% 10% 0% Quanta's cash flow generation is typically counter to revenue growth, primarily due to working capital demands and to a lesser extent, capex investment This dynamic typically allows us to lean into opportunistic strategic capital deployment, such as stock repurchases, strategic acquisitions and dividends, that can counter the effects of moderating growth As base business activity continues to grow and represent a majority of total revenues, we expect our free cash flow to increase and mitigate a portion of increased working capital demands when larger projects ramp up Under a mid-single digit revenue growth rate scenario, we would expect FCF/Adjusted EBITDA conversion of 40%-50% and FCF/Adjusted Net Income (1) conversion of 80%-90% Revenue % Chg. FCF/Adjusted EBITDA *Includes adverse impact of $112 million to FCF and $79.2 million to adjusted EBITDA associated with our Peruvian subsidiary's terminated telecommunications project **Includes favorable impact of $101 million to FCF from receipt of payment to coverage under an insurance policy following a legal proceeding associated with the project referenced above QUANTA (1) Refer to the appendix for a reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure (2) Pro forma midpoint based on comparison of Quanta's actual 2022 revenues to pro forma calculation of revenues for the twelve months ended December 31, 2021, which includes contribution from Blattner for the full year of 2021. (3) Guidance midpoint based on comparison of midpoint of Quanta's 2023E financial outlook provided on November 2, 2023 to actual revenues of $17,074 million for the twelve months ended December 31, 2022. Page 41#42DEBT MATURITIES AND CAPITAL STRUCTURE Investment Grade With Opportunity to De-Lever Well positioned balance sheet with long-term capital structure at attractive interest rates Debt Maturities (1) Amounts shown in millions 2.90% Senior Notes $1,000 Term Loan Cash flow should provide the means to efficiently de-lever while continuing to deploy capital into strategic acquisitions, stock repurchases and our dividend program 0.95% Senior Notes 2.35% 3.05% $740 Senior Senior Notes Notes $500 $500 $500 QUANTA Maturity Date 2024 2026 2030 2032 2041 Path To De-Lever Establishes Long-Term Capital Structure (1) Excludes additional amounts borrowed under Quanta's senior credit facility, which matures in October 2026, amounts outstanding under its commercial paper program and approximately $143 million of certain other debt, including finance lease liabilities and rental purchase option liabilities, as well as the impact of approximately $23 million of expected unamortized financing costs. Excluding the impact of letters of credit, Quanta had approximately $230 million of revolving loans outstanding under Quanta's senior credit facility and $397 million of outstanding notes under its commercial paper program as of September 30, 2023. Page 42#43FLEXIBLE AND STRATEGIC CAPITAL ALLOCATION Opportunistic and Disciplined Approach 2018-2022 Sources & Uses of Cash Capital Deployment Preference (Amounts in millions) $6,674 $6,384 . Working Capital . Capital Expenditures } 3% $201 Investments Organic Growth $127 Dividends 2% 14% $905 • • • Acquisitions Investments Return of Capital } Excess Capital Capital Deployment Posture Inorganic Growth Stock Repurchases Borrowings $2,960 44% 54% $3,422 Acquisitions, Net • Generally in sync with preference, however ... . Financial strength provides the Cash Flow from $3,714 56% Operations • QUANTA ability to be opportunistic Flexible and strategic capital allocation is a competitive advantage Sources 27% $1,729 CAPEX & Other, Net Uses Page 43#44FINANCIAL GOALS FOR GROWING LONG-TERM SHAREHOLDER VALUE Multi-Year Profitable Growth Return of Capital 5% to 10%+ Revenue CAGR QUANTA Sustainable Cash Flow Generation EPS Growth > Revenue Growth Improving Adjusted EBITDA Margins Strategic Acquisitions Double Digit ROIC Actual Performance Through the Cycle, 2010-2022: Revs. CAGR of ~14% Adj. EBITDA CAGR (1) of +12% • 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 Page 44#45QUANTA 2022 SUSTAINABILITY REPORT BUILDING MOMENTUM QUANTA 2022 Sustainability Report https://sustainability.quanta services.com/ Quanta's 2022 Sustainability Report provides information about our sustainability strategy and how we are measuring the continued progress we made in 2022. Titled "Building Momentum," the report discusses Quanta's leading role in enabling the energy transition and our vision to leave a measurable, sustainable legacy on people and our planet by focusing on our customers, employees, and communities. The report is guided by several reporting frameworks, including the Global Reporting Initiative (GRI), Task Force on Climate-related Financial Disclosures (TCFD), Sustainability Accounting Standards Board (SASB), and the UN Sustainable Development Goals (SDGs). Page 45#46OUR SUSTAINABILITY STRATEGY QUANTA Through our leading role in building the energy transition, our vision is to leave a measurable, sustainable legacy on people and our planet with a steadfast focus on our customers, employees, and communities. OUR VISION OUR VALUES By providing critical infrastructure solutions for our customers, we are playing a key role in helping to accelerate this transition, while focusing on employee safety and conducting our business in a socially, economically and environmentally responsible manner. Led by our unwavering principles, our commitment to people is integral to who we are and what we do. We look forward to our continued partnerships as we execute the work ahead. Thank you for your trust and confidence in Quanta Services. EARL C. "DUKE" AUSTIN, JR. President & Chlef Executive Officer, Quanta Services IMPACT PEOPLE PLANET PRINCIPLES Grow Our Positive Impact By supporting our customers and always putting safety first, we are enabling and accelerating the energy transition to a more sustainable future. As Quanta grows, so does our positive impact on the world. Sustainability Is Who We Are Our efforts in building the energy transition define us. We believe good business decisions drive sustainability, and sustainability is good for business. Focus on Safety Our goal is to complete every project without incident or injury, and we are committed to investing in our craft-skilled workforce, benefiting our employees, customers, and the overall industry. Reduce Our Footprint By investing in low-carbon options, we strive to be more efficient in our operations, even as our business grows. Embed Sustainability Our sustainability strategy must be embedded in all aspects of our business. Everybody owns it. People First, Always We are a people industry with a strong family culture. Led by our unwavering principles and commitment to safety, our commitment to people is integral to who we are and what we do. Customer Focus We recognize our customers are expecting us to invest in solutions that reduce our footprint. Culture of Innovation It is not enough to have sustainability leaders at the top of our organization making decisions; rather, we recognize that they must be cultivated at all levels and in all geographies of Quanta.#472022 SOCIAL HIGHLIGHTS SAFETY Our goal is to complete every project without incident or injury. Quanta's management team creates a culture in which all employees have the opportunity and responsibility to take ownership of their safety and the safety of their coworkers. At the end of the day, there's nothing more important than our employees coming home safely. TRAINING NLC'S INDUSTRY IMPACT Northwest Lineman College (NLC), continues to grow its reach, enabling thousands of people to have safe and rewarding careers in electric power, telecommunications, and natural gas. STUDENTS TRAINED In 2022, NLC increased its positive impact on society by training 17,642 students, a 17% increase over 2021 and a 35% increase since 2019. DIVERSITY A portfolio of operating companies, Quanta has been built on a foundation of diversity, and we are stronger when we recognize each person's unique strengths and talents. Quanta is committed to providing a work environment where every employee has a voice and sense of belonging, regardless of race, ethnicity, national origin, age, religion, gender, sexual orientation, gender identity, disability status, or veteran and military status. QUANTA TOTAL LIVES SAVED DUE TO DEPLOYED AUTOMATED EXTERNAL DEFIBRILLATORS 15,000 39 10,000 lives saved since 2022 program began "STUFF THAT KILLS YOU" (STKY) ACTUAL RATE 0.35 0.30 0.25 0.20 50% decrease since 2019 0.15 2019 2020 2021 2022 5,000 Mobile training Career training Apprenticeship 0 2019 2020 2021 2022 BY THE NUMBERS $ 1.12 B Total Diverse Vendor Spend in 2022 Increased Board Diversity To 18% minority Our positive impact on society extends to our world-class training, empowering thousands to have safe and rewarding careers in the electric power, renewables, telecommunications, and natural gas industries. Increased Minority Representation In management and non-management roles 47#482022 ENVIRONMENTAL HIGHLIGHTS QUANTA 60 Our approach to environmental stewardship is twofold we aim to minimize the environmental impacts of our activities and work in partnership with others to contribute to a resilient environment. Our projects and operations are designed to have minimal impact on the environment. We also invest in programs that promote environmental stewardship, conservation, habitat remediation and environmental education, working closely with local and Indigenous communities and other stakeholders to promote environmental values and priorities that are important to us all. BY THE NUMBERS 2.6% Reduction in fleet CO2 intensity (g CO2 / $ revenue) YOY FLEET CO2 EMISSIONS Absolute CO₂ emissions (metric tons CO₂e) 800,000 600,000 55 400,000 9.5 % Reduction in fleet CO2 intensity (g CO2/$ revenue) since 2019 Increased Sustainability Disclosure 200,000 2019 2020 2021 2022 50 5 Emissions intensity (g co₂/ USD revenue) QUANTA FOCUS ON FLEET: In late 2023, we took delivery of our first all-electric Chevrolet Silverado trucks. This represents the beginning of a long-term commitment to transform, where practical, our fleet of on- road vehicles to low- and zero-emission technologies and employ the most advanced vehicle technologies to perform our services efficiently and safely across the regions we operate in. By publishing new metrics this year for Scope 3 emissions, biodiversity, and waste 48#49QUANTA 5:00 OF 69% QUANTA Edit profile Quanta Services IR @QuantaIR Quanta Services is a leading specialty infrastructure solutions provider for the utility, renewable energy, communications and energy industries (NYSE: PWR) Houston, TX Joined July 2013 quantaservices.com 69 Following 831 Followers Posts Replies Highlights Media Quanta Services IR @Quant... . 5d QUANTA $PWR @Quanta Services Solid 2Q23 results. Raising full-yr '23 revs, adj EBITDA & EPS guidance. 2Q23: Revs=$5.0 B, GAAP Dil EPS=$1.12, Adj Dil EPS=$1.65, Adj EBITDA=$472.1 MM, Total Bcklg = $27.2 B. Call at 9 am EST this morning. + 409 Connect With Quanta Services Investor Relations X Investor Contact Kip Rupp, CFA, IRC @QuantalR Vice President - Investor Relations 713-341-7260 [email protected] Corporate Office 2727 North Loop West Houston, TX 77008 713-629-7600 www.quantaservices.com Page 49#50APPENDIX RECONCILIATION TABLES AND CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION QUANTA#51RECONCILIATION OF ADJUSTED NET INCOME AND ADJUSTED DILUTED EPS For the Years Ended December 31, (in thousands, except per share information) (Unaudited) QUANTA 2010 2015 2022 Low As of November 2, 2023 Estimated Guidance Range 2023E Midpoint High Net income from continuing operations attributable to common stock (as defined by GAAP) Adjustments: Acquisition and integration costs Asset impairment charges Change in fair value of contingent consideration liabilities Equity in (earnings) losses of non-integral unconsolidated affiliates Unrealized loss from mark to market adjustment on investment Gains on sales of investments Loss on early extinguishment of debt Income tax impact of adjustments Reconciliation of adjusted net income from continuing operations attributable to common stock: $ 142,693 $ 120,286 $ 491,189 $ 729,000 $ 743,900 $ 758,800 10,575 7,966 58,451 47,431 14,457 37,600 37,600 37,600. - 4,422 800 800 (20,333) (1,100) (1,100) 800 (1,100) 91,500 (22,222) (1,500) (1,500) (1,500) 7,107 (3,872) (16,186) (5,477) Impact of income tax contingency releases. (9,428) (4,197) Impact of Alberta tax law change 4,982 Impact of tax benefit from realization of previously unrecognized deferred tax asset (4,228) Adjusted net income from continuing operations attributable to common stock before certain non-cash adjustments 147,075 171,271 596,770 764,800 779,700 794,600 Non-cash stock-based compensation 20,640 36.939 105.600 127,400 127,400 127,400 Amortization of intangible assets 37,655 34,848 353,973 283,000 283.000 283,000 Amortization included in equity in earnings of integral unconsolidated affiliates 1,894 6,200 6,200 6.200 Non-cash interest expense 1,704 Income tax impact of non-cash adjustments (23,113) (25,817) (120,101) (139,700) (139,700) (139,700) Adjusted net income from continuing operations attributable to common stock after certain non-cash adjustments (a) 183,961 217,241 938,136 1,041,700 1,056,600 1,071,500 Effect of convertible subordinated notes under the "if-converted" method - interest expense addback, net of tax- Adjusted net income from continuing operations attributable to common stock (a) $ 1,412 185,373 $ 217,241 938,136 1,041,700 1,056,600 1,071,500 Reconciliation of adjusted diluted earnings per share: Diluted earnings per share from continuing operations attributable to common stock (as defined by GAAP) Acquisition and integration costs $ 0.67 $ 0.05 0.62 $ 3.32 $ 0.04 0.32 4.90 0.25 $ 5.00 0.25 $ 5.10 0.25 Asset impairment charges 0.30 0.10 - - Change in fair value of contingent consideration liabilities Equity in (earnings) losses of non-integral unconsolidated affiliates Unrealized loss from mark to market adjustment on investment Gains on sales of investments Loss on early extinguishment of debt Income tax impact of adjustments 0.03 0.01 0.01 0.01 (0.14) (0.01) (0.01) (0.01) 0.62 (0.15) (0.01) (0.01) (0.01) 0.03 (0.02) (0.09) (0.04) Impact of income tax contingency releases (0.04) (0.03) Impact of Alberta tax law change 0.03. Impact of tax benefit from realization of previously unrecognized deferred tax asset (0.02) Adjusted net income from continuing operations attributable to common stock before certain non-cash adjustments 0.69 0.88 4.03 Non-cash stock-based compensation 0.10 0.19 0.71 0.86 0.86 0.86 Amortization of intangible assets 0.18 0.18 2.39 1.90 1.90 1.90 Amortization included in equity in earnings of integral unconsolidated affiliates 0.01 0.04 0.04 0.04 Non-cash interest expense 0.01 Income tax impact of non-cash adjustments (0.11) (0.14) (0.80) (0.94) (0.94) (0.94) Adjusted diluted earnings per share from continuing operations attributable to common stock (a) $ 0.87 $ 1.11 6.34 $ 7.00 7.10 $ 7.20 Weighted average shares: Weighted average shares outstanding for diluted earnings per share Weighted average shares outstanding for adjusted diluted earnings per share 211,796 214,151 195,120 195,120 147,992 148,800 148.800 147,992 148,800 148,800 148,800 148,800 (a) The calculation of Adjusted Net Income and Adjusted Diluted EPS was changed during 2022. No recast was made for periods prior to 2021. Page 51#52RECONCILIATION OF EBITDA AND ADJUSTED EBITDA For the Years Ended December 31, (in thousands) (Unaudited) As of November 2, 2023 Estimated Guidance Range 2023E Midpoint 2010 2014 2015 2016 2017 2018 2019 2020 2021 2022 Low High Net income from continuing operations attributable to common stock (as defined by GAAP) $ 142,693 $ it expense, net on for income taxes ciation expense 3,485 269,224 $ 1,029 88,884 139,007 107,246 120,286 $ 198,725 $ 314,978 $ 6,531 12,464 20,114 97,472 293,346 $ 35,390 402,044 $ 65,963 445,596 $ 42,564 485,956 65,705 491,189 $ 729,000 743,900 $ 758,800 121,757 168,000 169,500 171,000 35,532 161,659 165,472 119,387 130,918 192,243 222,700 230,450 238,200 101,199 141,106 162,845 ization of intangible assets 37,655 34,257 34,848 170,240 31,685 183,808 32,205 202,519 218,107 225,256 255,529 290,647 321,400 321,400 321,400 43,994 62,091 76,704 165,366 353,973 283,000 283,000 283,000 Interest, income taxes, depreciation and amortization included in equity in earnings. of integral unconsolidated affiliates 3,174 9,728 14,274 19,300 19,300 19,300 ITDA (a) 373,916 584,623 421,982 520,360 586,637 736,908 913,677 ash stock-based compensation sition and integration costs 20,640 37,449 36,939 41,134 46,448 52,484 52,013 912,681 91,641 1,113,202 88,259 10,575 14,754 7,966 3,053 10,579 17,233 24,767 19,809 47,368 1,464,083 105,600 47,431 1,743,400 1,767,550 1,791,700 127,400 127,400 127,400 37,600 37,600 37,600 in (earnings) losses of non-integral unconsolidated affiliates. 332 466 979 10,945 52,867 (76,801) 9,994 (2,121) (20,333) (1,100) (1,100) (1,100) 58,451 7,964 59,950 52,658 13,892 8,282 5,743 14,457 (5,171) (11,248) 13,404 6,352 1,326 719 6,808 6,734 4,422 800 800 800 QUANTA impairment charges e in fair value of contingent consideration liabilities ince and restructuring costs on sales of investments ized loss from mark-to-market adjustment on investment tion of indemnification asset n purchase gain on for long-term contract receivable tion expense on early extinguishment of debt Ijusted EBITDA >nsolidated revenues Ijusted EBITDA Margin 102,460 38,848 3,991 (3,138) (22,222) 91,500 (1,500) (1,500) (1,500) $ 7,107 412,238 $ 778.466 $ 525,804 $ 579,842 $ 709,388 $ 902.228 $ 941,805 $ 1,049,934 $ 1,259,185 $ 1,684.938 $ 1,906,600 $ 1,930,750 $ 1,954,900 $ 3,629,433 $ 11.4 % 7,747,229 $ 7,572,436 $ 10.0 % 6.9% 7,651,319 $ 7.6% 9,466,478 $ 11,171,423 $ 7.5% 8.1% 12,112,153 $ 7.8 % 11,202,672 $ 12,980,213 9.4 % 9.7% 17,073,903 9.9% 20,100,000 9.5% 20,250,000 9.5% 20,400,000 9.6 % (a) The calculation of EBITDA in prior periods has been amended to conform to the 2021 calculation of EBITDA. Page 52#53RECONCILIATION OF FREE CASH FLOW Free cash flow is defined as net cash provided by (used in) operating activities less net capital expenditures. Net capital expenditures is defined as capital expenditures less proceeds from sale of property and equipment and from insurance settlements related to property and equipment. Net cash provided by operating activities of continuing operations (as defined by GAAP) Less: Net capital expenditures: Capital expenditures Proceeds from sale of property and equipment Proceeds from insurance settlements related to property and equipment Net capital expenditures Free Cash Flow QUANTA For the Years Ended December 31, (in thousands) (Unaudited) As of November 2, 2023 Estimated Guidance Range 2014 2015 2016 2017 2018 2019 2020 2021 2022 Low 2023E Midpoint High $ 247,742 $ 628,649 $ 390,749 $ 371,891 $ 358,789 $ 526,551 $ 1,115,977 $ 582,390 $ 1,130,312 $ 1,200,000 $ 1,300,000 $ 1,400,000 (247,216) 14,448 (209,968) 26,178 (212,555) 21,975 (244,651) 23,348 (293,595) 31,780 (261,762) 31,142 (260,052) 35,390 (385,852) 49,186 (427,630) 62,058 (400,000) (400,000) (400,000) 546 (232,768) $ 14,974 $ (183,790) 444,859 $ (190,034) 200,715 $ 1,175 (220,128) 151,763 $ 714 (261,101) 97,688 $ 1,964 (228,656) 297,895 $ 542 535 (224,120) 891,857 $ (336,131) 246,259 $ 2,065 (363,507) 766,805 $ (400,000) 800,000 $ (400,000) 900,000 (400,000) $ 1,000,000 Page 53#54RECONCILIATION OF RETURN ON INVESTED CAPITAL Return on invested capital ("ROIC") is calculated by dividing Adjusted EBITA, net of tax (a non-GAAP measure) by average invested capital. Adjusted EBITA, net of tax, is calculated as Adjusted EBITDA (a non-GAAP measure), less stock-based compensation expense, less depreciation expense, less income taxes based on a tax rate that has been adjusted to exclude the impact of certain non-recurring and non-operating items that impacted income taxes calculated in accordance with GAAP. Average invested capital is the average of invested capital at the beginning of the applicable fiscal year and invested capital at the end of the applicable fiscal year. Invested capital is equal to (1) total assets, less cash and cash equivalents and assets of discontinued operations, minus (2) total current liabilities less current maturities of long-term debt and short-term debt, current portion of operating lease liabilities, and current liabilities of discontinued operations. 2022 QUANTA 2015 Adjusted EBITDA (a non-GAAP measure) $ 525,804 $ 1,684,938 Less: Depreciation Less: Stock-based compensation Adjusted EBITA (162,845) (290,647) (36,939) (105,600) 326,020 1,288,691 Income tax provision based on adjusted tax rate (122,844) (323,075) $ 203,176 $ 965,616 Adjusted EBITA, net of tax Total Assets (GAAP as reported) Less: Cash and cash equivalents Less: Current liabilities Plus: Current maturities of long-term debt and short-term debt Plus: Current portion of operating lease liabilities Plus: Current liabilities of discontinued operations Invested capital Prior year invested capital Average Invested Capital Return on Invested Capital (ROIC) $ 5,213,543 (128,771) (1,203,744) 7,067 $ 13,464,337 (428,505) (3,406,194) 37,495 74,052 15,313 3,903,408 4,233,975 9,741,185 9,568,549 $ 4,068,692 $ 9,654,867 5.0 % 10.0 % Page 54#55CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS AND INFORMATION This presentation (and oral statements regarding the subject matter of this presentation) contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements relating to the following: Projected revenues, net income, earnings per share, margins, cash flows, liquidity, weighted average shares outstanding, capital expenditures, interest rates and tax rates, as well as other projections of operating results and GAAP and non-GAAP financial results, including EBITDA, adjusted EBITDA and backlog; Expectations regarding Quanta's business or financial outlook; Expectations regarding opportunities, technological developments, competitive positioning, future economic and regulatory conditions and other trends in particular markets or industries, including with respect to Quanta's increased operations in the renewable energy market and the transition to a reduced-carbon economy; Expectations regarding Quanta's plans and strategies; The business plans or financial condition of Quanta's customers, including with respect to the transition to a reduced-carbon economy; Potential benefits from, and future financial and operational performance of, acquired businesses and investments; Beliefs and assumptions about the collectability of receivables; The expected value of contracts or intended contracts with customers, as well as the expected timing, scope, services, term or results of any awarded or expected projects; Possible recovery of pending or contemplated insurance claims, change orders and claims asserted against customers or third parties; The development of and opportunities with respect to future projects, including renewable energy projects and other projects designed to support transition to a reduced-carbon economy, electrical grid modernization, upgrade and hardening projects and larger transmission and pipeline projects; Expectations regarding the future availability and price of materials and equipment necessary for the performance of Quanta's business; The expected impact of global and domestic economic conditions on Quanta's business, financial condition, results of operations, cash flows and liquidity and demand for Quanta's services, including inflation, interest rates, recessionary economic conditions and commodity prices and production volumes; The expected impact of changes and potential changes in climate and the physical and transition risks associated with climate change and the transition to a reduced-carbon economy; Future capital allocation initiatives, including the amount and timing of, and strategies with respect to, any future acquisitions, investments, cash dividends, repurchases of equity or debt securities or repayments of other outstanding debt; The expected impact of existing or potential legislation or regulation; Potential opportunities that may be indicated by bidding activity or discussions with customers; The future demand for, availability of and costs related to labor resources in the industries Quanta serves; The expected recognition and realization of Quanta's remaining performance obligations and backlog; Expectations regarding the outcome of pending and threatened legal proceedings, as well as the collection of amounts awarded in legal proceedings; Expectations regarding Quanta's ability to reduce its debt or maintain its current credit ratings; and Other statements reflecting expectations, intentions, assumptions or beliefs about future events, and other statements that do not relate strictly to historical or current facts. These forward-looking statements are not guarantees of future performance; rather they involve or rely on a number of risks, uncertainties, and assumptions that are difficult to predict or are beyond our control, and reflect management's beliefs and assumptions based on information available at the time the statements are made. We caution you that actual outcomes and results may differ materially from what is expressed, implied or forecasted by our forward-looking statements and that any or all of our forward-looking statements may turn out to be inaccurate or incorrect. These forward-looking statements can be affected by inaccurate assumptions and by known or unknown risks and uncertainties including, among others: Market, industry, economic, financial or political conditions that are outside of the control of Quanta, including economic, energy, infrastructure and environmental policies and plans that are adopted or proposed by the U.S. federal and state governments or other governments in territories in which Quanta operates, inflation, interest rates, recessionary economic conditions, deterioration of global or specific trade relationships, and geopolitical conflicts and political unrest; Quarterly variations in operating and financial results, liquidity, financial condition, cash flows, capital requirements and reinvestment opportunities; QUANTA Page 55#56CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS AND INFORMATION Trends and growth opportunities in relevant markets, including Quanta's ability to obtain future project awards; Delays, deferrals, reductions in scope or cancellations of anticipated, pending or existing projects as a result of, among other things, supply chain or production disruptions and other logistical challenges, weather, regulatory or permitting issues, environmental processes, project performance issues, claimed force majeure events, protests or other political activity, legal challenges, inflationary pressure, reductions or eliminations in governmental funding, or customer capital constraints; The effect of commodity prices and commodity production volumes, which have been and may continue to be affected by inflationary pressure, on Quanta's operations and growth opportunities and on customer capital programs and demand for Quanta's services; The successful negotiation, execution, performance and completion of anticipated, pending and existing contracts; Events arising from operational hazards, including, among others, wildfires and explosions, that can arise due to the nature of Quanta's services and the conditions in which Quanta operates and can be due to the failure of infrastructure on which Quanta has performed services and result in significant liabilities that may be exacerbated in certain geographies and locations; Unexpected costs, liabilities, fines or penalties that may arise from legal proceedings, indemnity obligations, reimbursement obligations associated with letters of credit or bonds, multiemployer pension plans or other claims or actions asserted against Quanta, including amounts not covered by, or in excess of the coverage under, third-party insurance; Potential unavailability or cancellation of third-party insurance coverage, as well as the exclusion of coverage for certain losses, potential increases in premiums for coverage deemed beneficial to Quanta, or the unavailability of coverage deemed beneficial to Quanta at reasonable and competitive rates (e.g., coverage for wildfire events); Damage to Quanta's brand or reputation, as well as any potential costs, liabilities, fines or penalties, arising as a result of cybersecurity breaches, environmental and occupational health and safety matters, corporate scandal, failure to successfully perform or negative publicity regarding a high-profile project, involvement in a catastrophic event (e.g., fire, explosion) or other negative incidents; Disruptions in, or failure to adequately protect Quanta's information technology systems; Quanta's dependence on suppliers, subcontractors, equipment manufacturers and other third-party contractors, and the impact of inflationary pressure, regulatory, supply chain and logistical challenges on these third parties; Estimates an assumptions relating to our financial results, remaining performance obligations and backlog; Quanta's inability to attract, the potential shortage of and increased costs with respect to skilled employees, as well as Quanta's inability to retain or attract key personnel and qualified employees; Quanta's dependence on fixed price contracts and the potential to incur losses with respect to these contracts; Cancellation provisions within contracts and the risk that contracts expire and are not renewed or are replaced on less favorable terms; Quanta's inability or failure to comply with the terms of its contracts, which may result in additional costs, unexcused delays, warranty claims, failure to meet performance guarantees, damages or contract terminations; Adverse weather conditions, natural disasters and other emergencies, including wildfires, pandemics, hurricanes, tropical storms, floods, debris flows, earthquakes and other geological- and weather-related hazards, as well as the impact of climate change; Quanta's inability to generate internal growth; Competition in Quanta's business, including the ability to effectively compete for new projects and market share, as well as technological advancements and other market developments that could reduce demand for Quanta's services; The failure of existing or potential legislative actions and initiatives to result in increased demand for Quanta's services or budgetary or other constraints that may reduce or eliminate tax incentives or government funding for projects, including renewable energy projects, which may result in project delays or cancellations; Unavailability of, or increased prices for, materials, equipment and consumables (such as fuel) used in Quanta's or its customers' businesses, including as a result of inflation, supply chain or production disruptions, governmental regulations affecting the sourcing of certain materials and equipment, the imposition of tariffs, duties, taxes or other assessments, and other changes in U.S. trade relationships with foreign countries; Loss of customers with whom Quanta has long-standing or significant relationships; QUANTA Page 56#57CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS AND INFORMATION The potential that Quanta's participation in joint ventures or similar structures exposes Quanta to liability or harm to its reputation as a result of acts or omissions by partners; The inability or refusal of customers or third-party contractors to pay for services, which could result in Quanta's inability to collect its outstanding receivables, failure to recover amounts billed to, or avoidance of certain payments received from, customers in bankruptcy, or failure to recover on change orders or contract claims; Risks associated with operating in international markets and U.S. territories, including instability of governments, significant currency exchange fluctuations, and compliance with unfamiliar legal or labor systems and cultural practices, the U.S. Foreign Corrupt Practices Act and other applicable anti-bribery and anti-corruption laws, complex U.S. and foreign tax regulations and international treaties; The inability to successfully identify, complete, integrate and realize synergies from acquisitions, including the inability to retain key personnel from acquired businesses; The potential adverse impact of investments and acquisitions, including the potential increase in risks already existing in Quanta's operations, poor performance or decline in value of acquired businesses or investments and unexpected costs or liabilities that may arise from acquisitions or investments; The adverse impact of impairments of goodwill, other intangible assets, receivables, long-lived assets or investments; Difficulties arising from Quanta's decentralized management structure; The impact of the unionized portion of Quanta's workforce on operations; The inability to access sufficient funding to finance desired growth and operations, including the ability to access capital markets on favorable terms, as well as fluctuations in the price and trading volume of Quanta's common stock, debt covenant compliance, interest rate fluctuations, a downgrade in Quanta's credit ratings and other factors affecting financing and investing activities; The inability to obtain bonds, letters of credit and other project security; Risks related to the implementation of new information technology systems; New or changed tax laws, treaties or regulations or the inability to realize deferred tax assets; and Other risks and uncertainties detailed in Quanta's most recently filed Annual Report on Form 10-K, Quanta's recently filed Quarterly Reports on Form 10-Q and any other documents that Quanta files with the Securities and Exchange Commission (SEC). For a discussion of these risks, uncertainties and assumptions, investors are urged to refer to Quanta's documents filed with the SEC that are available through Quanta's website at www.quantaservices.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements. Investors are cautioned not to place undue reliance on these 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, whether as a result of new information, future events or otherwise. Quanta further expressly disclaims any written or oral statements made by any third party regarding the subject matter of this presentation. QUANTA Page 57