#1Jacobs Investor Presentation November/December 2023 Jacobs Challenging today. Reinventing tomorrow.#2Disclaimer Certain statements contained in this presentation constitute forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will," "would," "could," "can," "may," "target," "goal" and similar words are intended to identify forward looking statements. Examples of forward looking statements include, but are not limited to, statements we make concerning our expectations as to our future growth, prospects, financial outlook and business strategy, including our expectations for our fiscal year 2024 adjusted EBITDA and adjusted EPS, free cash flow conversion, net interest expense, multi year earnings growth, as well as our expectations for our fiscal year 2024 effective tax rate, our plans to implement a cost optimization plan, including our ability to reduce corporate unallocated costs and eliminate stranded costs and our expectations regarding adjusted EBITDA margin expansion in connection therewith, our plans to spin off and merge with Amentum our Critical Missions Solutions ("CMS") business and a portion of our Divergent Solutions business in a proposed transaction that is intended to be tax free to stockholders for U.S. federal income tax purposes, our and our stockholders respective ownership percentages of the combined company, the amount of cash payment and value to be derived from the disposition of Jacobs' stake in the combined company, the expected timing, structure and tax treatment of the proposed transaction, the ability of the parties to complete the proposed transaction, and the potential benefits and synergies of the proposed transaction, including the future financial and operating results and strategic benefits, and any assumptions underlying any of the foregoing. Although such statements are based on Jacobs' and Amentum's current estimates and expectations, and/or currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain, and you should not place undue reliance on such statements as actual results may differ materially. We caution the reader that there are a variety of risks, uncertainties and other factors that could cause actual results to differ materially from what is contained, projected or implied by our forward-looking statements. Such factors include uncertainties as to the structure and timing of the proposed transaction, the impact of the proposed transaction on Jacobs and the combined company if the proposed transaction is completed, the possibility that the proposed transaction may not qualify for the expected tax treatment, the ability to obtain all required regulatory approvals, the possibility that closing conditions for the proposed transaction may not be satisfied or waived, on a timely basis or otherwise, the risk that any consents or approvals required in connection with the proposed transaction may not be received, the risk that the proposed transaction may not be completed on the terms or in the time-frame expected by the parties, unexpected costs, charges or expenses resulting from the proposed transaction, business and management strategies and the growth expectations of the combined company, the ability of the parties to combine the combined company and to implement its business strategy and realize the expected benefits, including the ability to realize the estimated synergies, the inability of the Company and the combined company to retain and hire key personnel, customers or suppliers while the proposed transaction is pending or after it is completed, as well as other factors related to the combined company business, such as competition from existing and future competitors in its target markets, financial market risks that may affect Jacobs or the combined company, including by affecting Jacobs' or the combined company's access to capital, as well as general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates and foreign currency exchange rates, changes in capital markets, the impact of a possible recession or economic downturn on our results, prospects and opportunities, and geopolitical events and conflicts, the risk that disruptions from the proposed transaction will impact the Jacobs' or Amentum's business, the risk that the separation of the CMS business from the Company is more difficult than expected, the risk of a disruption in the Company's business as a result of the pending proposed transaction, a possible decrease in the trading price of the Company's and/or the combined company's shares, as well as factors related to our business or detailed from time to time in the Company's reports filed with the U.S. Securities and Exchange Commission ("SEC"). The foregoing factors and potential future developments are inherently uncertain, unpredictable and, in many cases, beyond our control. For a description of these and additional factors that may occur that could cause actual results to differ from our forward-looking statements see our Annual Report on Form 10-K for the year ended September 29, 2023, and in particular the discussions contained therein under Item 1-Business; Item 1A-Risk Factors; Item 3-Legal Proceedings; and Item 7-Management's Discussion and Analysis of Financial Condition and Results of Operations, our Quarterly Reports on Form 10-Q, as well as the Company's other filings with the SEC. The Company is not under any duty to update any of the forward-looking statements after the date of this presentation to conform to actual results, except as required by applicable law. We encourage you to read carefully the risk factors, as well as the financial and business disclosures contained in our Annual Report on Form 10-K, our Quarterly Report on Form 10-Q and in other documents we file from time to time with the United States Securities and Exchange Commission. Non-GAAP Financial Measures and Operating Metrics To supplement the financial results presented in accordance with generally accepted accounting principles in the United States ("GAAP"), we present certain non-GAAP financial measures within the meaning of Regulation G under the Securities Exchange Act of 1934, as amended. These measures are not, and should not be viewed as, substitutes for GAAP financial measures. This presentation contains certain operating metrics which management believes are useful in evaluating the transaction. We generally explain these metrics in footnotes when used. Backlog represents revenue the company expects to realize for work to be completed, including work to be completed by their consolidated subsidiaries. Backlog to revenue represents the ratio of combined backlog to the revenue of the separated businesses plus Amentum's revenue. Leverage equals the sum of indebtedness of Amentum and the separated businesses expected to be outstanding at a point in time less cash and cash equivalents as of the same point in time, divided by the adjusted earnings before interest, taxes, depreciation and amortization for the 12-month period ending on that date. We regularly monitor these operating metrics to evaluate our business, identify trends affecting our business, and make strategic decisions, and expect the combined company to similarly evaluate these metrics. Disclaimer of Amentum Information: Certain information contained herein, including the combined company's expected revenue, the percentage of r evenue derived from prime contracts, and the combined backlog and pipeline, is based in part on information provided by Amentum in connection with the proposed transaction. Jacobs has not inde pendently verified this information. Information regarding Amentum's and CMS's future expectations of performance, including projected Adj. EBIT DA margin, and projected leverage ratios, are based on estimates and assumptions. There can be no assurance that these estimates and assumptions are correct, and you should not unduly rely upon them. Jacobs 2023#3Jacobs today ■ Workforce: ~60,000 ☐ Currently operates across four reporting segments that provide a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sectors: - People & Places Solutions (P&PS) - critical infrastructure - Majority investment in PA Consulting (PA) Divergent Solutions (DVS) - data & software solutions (certain segments, including Cyber & Intel. to be separated) Critical Mission Solutions (CMS) (to be separated) O Targeting higher growth / margin sub-segments ■ Client segments expected to outpace industry growth rates - critical infrastructure, water & environment, semiconductors, life sciences, digitally-enabled solutions FY24 Strategic Targets 100% Client projects with ESG scope 10,000 Consulting & Advisory talent base 30% Revenue from consulting, data and technology Cities & Places Space 9% Health & Life Sciences 8% 8% Energy & Environment 18% Fixed-price limited risk 21% By Sector 1, 2 Advanced Manufacturing 5% By Mix² Fixed-price at risk 5% Portfolio Overview FY23 Infrastructure 32% UK & Europe 22% National Security 20% PA DVS 9% 7% P&PS Reimbursable Solutions 74% 49% By Region² APAC & Other 9% By Segment³ 3 1 Excludes PA Consulting 2 Based on Revenue per applicable 10K filing 3 Reflects Adj. Net Revenue, defined as Revenue minus pass-through Revenue, for FY23 Adj. Net Revenue is a non-GAAP financial measure. Please see Appendix for a reconciliation to the nearest GAAP measure North America 69% CMS 35%#4Transformation to less volatile and higher value services and solutions PA Consulting 7% PA Consulting Government Services 18% Critical Infrastructure 28% Adj EBITDA Margins 1 FY14 $12.7B 7.8% FY14 2015-2016 Energy, Chemicals and Resources 54% Assess and Focus ■ New management team joins Jacobs ■ Developed strategy aligned to secular growth opportunities 4 1 Based on Revenue per applicable 10K filing Critical Infrastructure 59% 1 FY23 $16.3B 10.8% FY23 2017-2023 De-risk and Shift to Higher Value Services CMS/C&I 34% At least 300 bps of margin expansion expected post CMS separation ■ Acquired CH2M to accelerate growth in high value infrastructure ■ Divested energy, chemical and resources business ■ Acquired majority ownership in PA Consulting 2 Post-Separation Adj. EBITDA Margin, dependent on successful completion of CMS separation FY25E Standalone 13.8%+² Critical Infrastructure Today & future FY25E Challenging Today. Reinventing Tomorrow. ■ Foundation of efficient, competitive businesses ■ Global, premier high-end solutions provider ■ Positioning two leading businesses for success • Margin improvement runway for Standalone Jacobs ■ Standalone Jacobs over-capitalized after separation proceeds#55 Three needle-moving accelerators catalyze additional growth across all markets Climate Response Consulting& & Advisory Data Solutions Infrastructure ▪ National Security ▪ Advanced Manufacturing ■ Health & Life Sciences ▪ Energy & Environment ▪ Cities & Places ▪ Space OJacobs 2023#6P&PS playing in key sectors aligned to critical infrastructure and sustainability Transportation Water Cities & Places Energy & Environmental Health and Life Sciences Advanced Manufacturing ■ Market leading position in Mass Transit & Rail, Marine & Port Facilities, Highways & Bridges, and Airports ■ PMCM capabilities delivering world's largest Transportation megaprojects Transportation Advisory & Planning ■ Decarbonization ■ Data & Cyber solutions EV charging ☐ ☐ Unique OneWater end-to- end approach providing social value across the complete water cycle Drinking water and reuse, wastewater, conveyancing and storage and water resources Water-Energy nexus Digital Water including OT Cyber Nature based solutions B Integrating data, technology, mobility and connectivity to improve economic and social equity and the resiliency of cities & communities Architecture, Structures, Building Systems, Interiors & Strategies ■ Market leaders in Defense " and Government buildings Industry leading PMCM capabilities Sustainable and intelligent buildings ☐ Responding to challenges driven by climate change, urbanization, resource scarcity, energy security & digital proliferation Supporting global energy diversification and transition efforts across all sectors Renewables and hydrogen Environmental planning, remediation, regeneration, operational excellence and PFAS solutions " Largest professional services provider to the biopharmaceutical industry ■ Health System Governance, Health Infrastructure and Health Operations Advisory Digital Health: data solutions and cyber expertise, telehealth Empowered by digitally enabled solutions across all end sectors ப ☐ Capturing unprecedented multi-year super-cycle in semiconductors in response to global supply chain disruption Trusted advisor to many Electronics and Specialized Manufacturing clients Data centers, driving decarbonization and cloud condo strategies ■ Electric Vehicle Manufacturing#7Jacobs holds leading positions Overall 7 Infrastructure No 1 Top 500 in Design Firms Nº 1 Wastewater Treatment Nº 1 Health & Life Sciences Pharmaceuticals N° 1 Top 100 Pure Designers Nº 1 Sanitary & Storm Sewers Nº 1 Healthcare No 1 Top 20 Firms in Combined Design and CM-PM Professional Services Revenue Nº 1 Sewer & Waste Nº 1 Transmission Lines & Cabling Advanced Manufacturing Nº 1 Operation & Maintenance Nº 1 Data Centers Nº 1 Telecommunications Nº 1 Semiconductors Energy & Environment Nº 2 Water Nº 1 Manufacturing Nº 1 Environmental Consulting Nº 2 Transportation Nº 1 Industrial Process Nº 1 Clean Air Compliance Nº 2 Bridges Nº 1 Pulp & Paper Nº 1 Solar Power Nº 2 Mass Transit & Rail Nº 2 Electronic Assembly Nº 2 Chemical & Soil Remediation Nº 2 Marine & Port Facilities Nº 2 Site Assessment & Compliance Nº 2 Airports Cities & Places Nº 2 Wind Power Nº 2 Water Treatment, Desalination Plants Nº 2 Co-Generation Nº 2 Highways Nº 2 Government Offices Nº 2 Entertainment Nº 2 Power *Source: Engineering News-Record: 2023 Top 500 Design Firms and Source Books OJacobs 2023#8People & Places Solutions - Infrastructure & sustainability leader Approx. revenue by sector (FY 2023) Advanced Manufacturing, 7% Cities & Places, 14% Energy & Environment, 11% Business Breakdown Gross Revenue Adj. Net Revenue* (% of Total Adj. Net Revenue) US International Transportation, 29% Public/Private Reimbursable / Fixed Price Services % Operating Profit Margin (% of Adj. Net Revenue*) FY'23 $9,554 million $6,567 million (49%) 62% / 38% 60% / 40% 72% / 28% 14.6% National Security, 2% Health & Life Sciences, 14% Water, 23% Infrastructure Infrastructure-enabling markets Key Customers COSTAIN Environment Agency EXPO 2020 DUBAI UAE FIFA WORLD CUP Cat ar2022 End-to-end Solutions ■ Climate change Energy transition ■ Connected mobility Integrated water management ■ Smart cities ■ Vaccine manufacturing * Adj. Net Revenue is a non-GAAP financial measure. Please see Appendix for a reconciliation to the nearest GAAP measure FUJIFILM ST england highways intel LGA LAGUARDIA Lilly Pfizer TEAM 2100 NAVY#9Divergent Solutions - Innovative data and digital solutions Approx. revenue1 by sector (FY 2023) Commercial, 5% Space, 14% Infrastructure, Defense, 19% Key Customers 3% Energy & Environment, 2% Cyber & Intelligence, 57% FARTMENT OF JUSTIC 贸 U.S. AIR FORCE INVESTI DISA Business breakdown Revenue Adj. Net Revenue* (% of Total Adj. Net Revenue*) US / International Public/Private Reimbursable / Fixed Price Services % Operating Profit Margin Supports all lines of business as the core foundation for developing and delivering: ◉ Innovative, next-generation cloud ■ Cyber and intelligence " Data analytics FY'23 $947 million $882 million (7%) 97%/3% 91%/9% 76% / 24% 9.3% Strategic Acquisitions & Partnerships ◉ KeyW Buffalo Group ☐ BlackLynx • Digital solutions such as systems and software application integration services ■ StreetLight Data ☐ Palantir Partnership NTELLIGENCE * Adj. Net Revenue is a non-GAAP financial measure. Please see Appendix for a reconciliation to the nearest GAAP measure UNITED STATES OF AMERICA D STA TOF DEPARTMENT THE TRE 1789 다#1010 PA Consulting - Differentiated growth through ingenuity Approx. revenue by sector (FY 2023) Business breakdown FY'23 Revenue (% of Total Adj. Net Revenue) Transport, 9% $1,158 million (9%) Energy & Utilities, Health & Life Sciences, 16% US International 12% 88% (76% UK) 11% Public/Private 52% / 48% Reimbursable / Fixed Price Services 47% / 53% Consumer & Manufacturing, 12% % Operating Profit Margin 20.5% Financial Services, 11% Public Services, 17% Key Customers BANK OF ENGLAND M M Google Emirates Defense & Security, 24% gsk Combines innovative thinking and breakthrough use of technologies across: Consumer and manufacturing ■ Defense and security ■ Energy and utilities Financial services HM Government John Lewis Ministry of Defence HSBC LLOYDS BANK NOVARTIS Orsted NHS Nordea Pfizer ■ Government ■ Health and life sciences " Transport P&G Royal Bank A of Scotland Rentokil TRAFIKVERKET U Unilever#11Critical Mission Solutions - Poised to thrive independently Approx. revenue by sector (FY 2023) Business breakdown Infrastructure, 7% (Telecom) National Security 11 FY'23 Revenue (% of Total Adj. Net Revenue) $4,693 million (35%) Advanced Manufactureing, 2% (Auto test and diagnostics) US / International 76% / 24% Public/Private 82% / 18% Space, 22% Reimbursable, T&M / Fixed Price Services 82% / 18% % Operating Profit Margin 8.1% Defense & Intelligence, 35% Energy & Environment, 34% Key Customers Australian Government Combatant Commands AT&T Department of Defence ☐ Provides a full spectrum of solutions for our government clients: Cyber, data analytics, systems and Enterprise operations and maintenance ☐ software application integration services Consulting ■ Program management ☐ Enterprise level O&M and mission IT Other highly technical consulting solutions Space exploration and intelligence ☐ Engineering and design Ministry of Defence NASA UNLED STATES AIR FORCE AME U.S. Intelligence Community ITE AVY#12Creating a New Government Services Leader: Jacobs To Spin-off and Merge Its CMS and C&I Businesses with Amentum#13Transaction rationale Jacobs to spin-off and merge its CMS business with Amentum, creating a new independent, publicly- traded company ■ Transaction perimeter includes Jacobs CMS segment plus the closely related Cyber and Intelligence unit ("C&I") from Divergent Solutions ("DVS") ■ Culmination of a comprehensive review to determine highest value alternative for Jacobs' shareholders following inbound inquiries received after spin-off announcement of the CMS segment on May 9th - Creates a scaled pure-play government services engineering and technology leader with an enhanced strategic and financial profile Drives higher growth by combining portfolios with complementary capabilities and client sets Benefits from $50-70M of expected net cost synergies Preserves tax efficiency of a spin for Jacobs' shareholders ■ Transaction marks a critical milestone in Jacobs' strategic portfolio transformation to a more focused, higher margin portfolio aligned to critical infrastructure tailwinds ■ Achieves objective of creating two independent companies after the separation, each positioned for greater success 13 OJacobs 2023#14Transaction summary ▪ Reverse Morris Trust that is intended to be tax-free to shareholders for U.S. federal income tax purposes Jacobs and Jacobs shareholders to own up to 63% of combined company 14 Transaction Structure - Jacobs shareholders: 51% - ◉ Jacobs company retained stake: 7.5% - 12% based on achievement of operating profit targets prior to close $1.0B cash dividend to Jacobs at closing Management and Governance Timing ■ Combined FY24 Adj. EBITDA of approximately $1.1B including $50-70M of expected net cost synergies ■ Additional value to Jacobs through disposition of retained stake in combined company ■ ~$4.2B of expected net debt at close, implying ~3.8x net leverage at close with clear path to deleveraging below 3.0x ■ Steve Demetriou will serve as Executive Chair of the combined company ■ John Heller (current CEO of Amentum) will serve as CEO of the combined company ■ Dr. Steve Arnette (EVP and President of CMS) will serve as COO of the combined company ■ Board initially split 50/50 between Jacobs and Amentum nominees including John Heller ■ Additional members of the combined company's senior management team will be drawn from both companies ◉ Transaction expected to close in second half of FY2024 Closing will be subject to regulatory approvals and other customary closing conditions Post-closing, combined company will be publicly traded Jacobs 2023#15Combination with Amentum Transaction Structure Merger Partner / Combined Company Amentum Jacobs amentum > Combined Company Shareholders Jacobs $1B Cash 7.5% 12.0% 15 Shareholders 37.0% 51.0% 41.5% ~$7.9B revenue / ~8% Adj. EBITDA margin business >40% focused on high-growth, high margin intel and science and technology sectors Strong momentum in backlog, revenue and profit growth <$4B current net debt at ~8% average interest rate Clients and capabilities very complementary with CMS/C&I $50-70M of expected net cost synergies FY'24 Adj. EBITDA of approximately $1.1B, including expected net cost synergies ~$4.2B expected net debt at close, inclusive of $235M equity contribution from Amentum shareholders and $200M in cash from CMS balance sheet ~3.8x net leverage at closing with clear path to deleveraging below 3x Key Transaction Terms Jacobs Shareholders Jacobs Governance ☐ NewCo Jacobs CMS/C&I + Amentum Amentum Shareholders Timing ☐ 51% of combined company shares to be owned by Jacobs shareholders $1B cash dividend at closing 7.5%-12.0% retained stake in combined company (additional value to Jacobs) Retained stake to be disposed of within 12 months of closing Steve Demetriou will serve as Executive Chair of combined company John Heller (current CEO of Amentum) will serve as CEO of combined company Dr. Steve Arnette (EVP and President of CMS) will serve as COO of combined company Initial Board to be split 50/50 between Jacobs and Amentum nominees Amentum shareholders subject to a 12-month post-closing lock up on shares received in combined company Transaction expected to close in second half of FY2024 Jacobs 2023#16FY2023 Separation Roadmap ■ Separation of CMS/C&I for FY23 would result in 150bps margin uplift Impact before any further benefit from Cost Optimization Plan FY2023 CMS/C&I Actual Separation FY2023 Adjusted Adj. Net Revenue* $13,301 ($5,438) $7,863 Adj. EBITDA* Margin % 1,436 (465) 971 10.8% 8.6% 12.3% (+150 bps) *See Non-GAAP reconciliation and operating metrics at the end of presentation 16 CMS/C&I Financials Revenues of $5,438M composed of CMS segment revenue of $4,694M plus net revenue from the portion of DVS included in the separation of $744M ($807M gross revenue) Adjusted EBITDA margin of 7.7% (as disclosed in transaction presentation) included: Estimated $10M in incremental standalone costs Estimated $30M in unallocated Jacobs corporate costs that support CMS/C&I business Figures are based on preliminary unaudited information and may not be reflective of Carve-Out Financial Statements prepared in accordance with US GAAP. Jacobs 2023#17Fiscal 2023 Q4 & Full Year Results#18Jacobs Challenging today. Reinventing tomorrow. Strategy: Boldly Moving Forward ■ ■ Culture of inclusion, innovation and inspiration creates competitive advantage Diverse sector exposure with recurring revenue provides substantial visibility ☐ ■ Climate Response, Data Solutions and Consulting & Advisory key accelerators Solid execution and discipline result in strong cash flow and shareholder value Track record of execution PA Consulting, 8% Divergent Solutions, 7% Critical Mission Solutions, 36% Q4 2023 Segment Adj. Net Revenue ☐ Q4 adjusted net revenue increased 8.9% y/y Q4 adjusted OP up 10% y/y ☐ Q4 revenue backlog $29.1B, up 4% y/y with gross margin in backlog up 72 bps y/y Q4 P&PS adj. net revenue up 11% y/y with adj. OP growth up 12% y/y Adj. Net Revenue ($ in Billions) $3.5 $3.2 Backlog ($ in Billions) $27.9 $29.1 Q4 2022 Q4 2023 Q4 2022 18 See Non-GAAP reconciliation and operating metrics at the end of presentation Q4 2023 PA Consulting, 13% Divergent Solutions, 5% Critical Mission Solutions, 23% Q4 2023 Segment Operating Profit People & Places Solutions, 49% People & Places Solutions, 59% Jacobs 2023#19Fiscal 2023 Q4 results Revenue up 10.5% y/y, adjusted net revenue increased 8.9% y/y and up 7.3% in constant currency GAAP Operating Profit (OP) of $278M and OP Margin of 6.5% Adj. OP of $383M up 10% and up 9% in constant currency; Adj. OP Margin (% of Adj. Net Revenue) of 11% GAAP Net Earnings from Continuing Operations of $150M GAAP EPS from Continuing Operations of $1.25 includes: $0.27 of expense net of NCI related to the amortization of acquired intangibles $0.05 of a non-cash charge related to reduction in real estate footprint ■ $0.23 of transaction, restructuring and other related costs ☐ $0.10 tax adjustment to align to expected annual effective tax rate² Adj. EPS of $1.90 Adjusted EBITDA of $384M, with adjusted EBITDA margin 11.1% of Adj. Net Revenue Q4 revenue book-to-bill 1.04x and gross profit in backlog up over 8% y/y U.S. GAAP and adjusted effective tax rates for the quarter and year include certain tax adjustments for deferred tax valuation allowances and audit assessments amounting to a negative EPS impact of $0.06 per share. 19 1See Non-GAAP reconciliation and operating metrics at the end of presentation 2Beginning with our first fiscal quarter in 2024, the Company will be revising the adjustments it makes to adjusted net earnings from continuing operations and adjusted EPS. It is expected that the Company will no longer make an adjustment to align these non-GAAP measures to its annual effective tax rate. More information will be provided with our first quarter earnings materials.#20Fiscal 2023 results Revenue up 10% y/y, adjusted net revenue up 7% y/y GAAP Operating Profit (OP) of $1,075M and OP Margin of 6.6% Adj. OP of $1,433M up 9% and up 11% in constant currency; Adj. OP Margin of 10.8% GAAP Net Earnings from Continuing Operations of $667M GAAP EPS from Continuing Operations of $5.31, impacted by: ☐ $1.06 of expense net of NCI related to the amortization of acquired intangibles ☐ $0.28 of a non-cash charge related to reduction in real estate footprint $0.55 of transaction, restructuring and other related costs Adj. EPS of $7.20 Adjusted EBITDA of $1,436M, up 5% y/y and up 7% in constant currency Adjusted EBITDA was 10.8% as a of percentage Adj. Net Revenue TTM revenue book-to-bill 1.08x 20 20#21Segment financials $'s in millions People & Places Solutions Operating Profit as a % of adj. net revenue¹ Q4 2022 229 14.9% Critical Mission Solutions Operating Profit as a % of revenue PA Consulting Operating Profit as a % of revenue Divergent Solutions Operating Profit as a % of adj. net revenue¹ Q4 2023 Y/Y Y/Y CC² 81 7.0% 103 8.3% 49 19.4% 15 6.6% 256 15.0% 59 20.6% 24 10.1% 11.7% 16 bps 26.4% 128 bps 20.5% 122 bps 57.9% 350 bps 10.9% 24.0% 11.4% 56.7% Adjusted Unallocated Corporate Costs¹ (28) (60) (31) (28) Adjusted Operating Profit from Continuing Operations¹ as a % of adj. net revenue 347 10.9% 383 11.0% 10.3% 14 bps 8.8% Adjusted EBITDA from Continuing Operations 350 384 9.6% as a % of adj. net revenue 11.0% 11.1% 21 1See Non-GAAP reconciliation and operating metrics at the end of presentation 2 Year over year constant currency represents growth and margin using FX rates from the year ago period applied to current results Jacobs 2023#22Segment financials $'s in millions 2022 2023 Y/Y People & Places Solutions Operating Profit as a % of adj. net revenue¹ 825 958 13.6% 14.6% Critical Mission Solutions Operating Profit 16.1% 100 bps 6.4% Y/Y CC² 19% as a % of revenue PA Consulting Operating Profit as a % of revenue Divergent Solutions Operating Profit as a % of adj. net revenue¹ 356 8.1% 232 20.7% 378 237 8% 8.1% (7 bps) 2.1% 5% 20.5% (28 bps) 68 7.8% 82 9.3% 21.0% 21% 143 bps Adjusted Unallocated Corporate Costs¹ (166) (222) (56) (67) Adjusted Operating Profit from Continuing Operations¹ 1,314 1,433 9.0% 11% as a % of adj. net revenue 10.6% 10.8% 20 bps Adjusted EBITDA from Continuing Operations 1,364 1,436 5.3% as a % of adj. net revenue 11.0% 10.8% 22 1See Non-GAAP reconciliation and operating metrics at the end of presentation 2 Year over year constant currency represents growth and margin using FX rates from the year ago period applied to current results Jacobs 2023#23Balance sheet and cash flow Strong cash flow generation ☐ ■ Q4 cash flow from operations (CFFO) $219M and FCF1 of $180M ☐ ◉ ◉ Generated $837M in FY23 FCF resulting in YTD 126% FCF conversion of Net Income 104% underlying FY23 FCF conversion to adjusted net income; expect >100% underlying FY24 conversion excluding the impact of restructuring, transaction and separation costs Balance sheet strength affords prudent capital deployment Expect to maintain an investment grade credit profile Q4 dividend of $0.26/share, an increase of 13% y/y, paid on November 9, 2023 23 Leverage Metrics ($ billions) Cash/debt Net Debt Position Net debt to LTM adjusted FY23 EBITDA Fixed/Floating debt Ending Q4 weighted interest rate FY23 Q4 $0.9B/$2.9B $1.9B 1.4x ~65%/35% ~5.0% 1 Free cash flow (FCF) calculated as reported cash flow from operations minus CAPEX. See Non-GAAP reconciliation and operating metrics at the end of presentation#24Balance sheet and capital allocation ■ Committed to an investment grade credit profile ■ CMS/C&I transaction benefits balance sheet - Dividend proceeds from CMS/C&I separation used to pay down debt - Additional benefit from disposition of Jacobs retained stake within 12 months of transaction close Transaction proceeds and strong FCF generation supports consistent return of capital to shareholders - - FY2024 guidance for >100% underlying free cash flow conversion - Priority for organic investment and return of capital to shareholders through share repurchases and dividends 24#25Cost Optimization Plan and Outlook#26Cost Optimization Plan Streamlining operating model and eliminating stranded costs ~$90M of Cost Optimization (Run Rate) ■ ☐ $40M corporate unallocated cost reduction initiative $50M in costs related to independent Jacobs operating model including technology and global delivery platform ~$50M of Stranded Costs Eliminating ~$50M in stranded costs associated with the CMS separation ■ Stranded costs are not incremental to operating profit Driving >300 bps in margin expansion Standalone Jacobs Adj. EBITDA Margin 10.8% 13.8%+ Over 300 bps of expected Adj. EBITDA Margin expansion achieved through: ■ Separation of lower margin business ■ $140M of cost optimization initiatives FY23 As-Reported Operating leverage 1 FY25E Total Cost Optimization: > $140M including $90M+ in run-rate savings 26 1Assumes $90M of cost optimization and successful completion of CMS separation in FY24. Jacobs 2023#27Cost Optimization Plan FY2023 27 As- Reported Results Adjusted to Exclude CMS/C&I Elimination of Transitional Overhead Costs 10.8% +150bps 12.3% 12.8% FY2024E-FY2025E Net Operating Model Efficiencies +150bps Operating Leverage +Further Upside from Additional Operating Leverage 13.8% + ☐ Commentary At least 300bps of margin improvement in FY24 & FY25 Commitment to long- term sustained margin improvement for Standalone Jacobs post separation Combination of mix, operating leverage, ongoing productivity ☐ ☐ Digitization of work processes + global delivery model Goal is to reach peer level margins over time Jacobs 2023#28Outlook & Summary Initiating Fiscal 2024 Outlook¹ FY23 FY24E² Y/Y Growth (at mid-point) FY Adjusted EBITDA $1.44B $1.53B $1.60B 9% FY Adjusted EPS $7.20 $7.70 - $8.20 10% Net Interest Expense $142M $130M $140M (5%) Adj. Non-Controlling Interest $80M $75M - $85M Effective Tax Rate 21.6% 22.0% > 100%³ Underlying FCF Conversion Additional Considerations 104% Remain committed to double-digit multi-year earnings growth driven by accelerating revenue, improving margin performance, strong backlog and a robust global sales pipeline aligned with our strategic accelerators. Incorporates full-year contribution of businesses to be separated. FY24 expected effective tax rate of 22% has an impact as compared to our FY23 effective tax rate of 21.6%. Full Year 2024 Assumptions ■ FY 2024 fully diluted average share count: ~127M ■ Annual CAPEX: ~1% of net revenue ☐ Depreciation: ~$110M Q1 FY2024 Assumptions Approximately 10% negative year-over- year adjusted EPS decline ~$0.25 year-over-year headwind associated with one-time favorable impact from employee benefit plan change in comparison period plus higher other employee related costs during current period ■ Strong underlying growth 28 1See Non-GAAP reconciliation and operating metrics at the end of presentation. 2Reconciliation of expected fiscal year 2024 adjusted EPS and adjusted EBITDA, and net interest expense and adjusted non-controlling interests for fiscal year 2024 to the most directly comparable GAAP measure is not available without unreasonable efforts because the Company cannot predict with sufficient certainty all the components required to provide such reconciliation. 3 3 Before the impact of restructuring, transaction and separation costs.#29FY24 EBITDA and EPS Guidance Recap 29 Fiscal 2024 Outlook Illustrative FY24 Excl. Transitional Overhead FY23 FY24 Guidance¹ Transitional Overhead (% Growth) Costs Costs² (% Growth) FY Adjusted EBITDA $1.44B $1.53B $1.60B 6% -11% $40M $1.57B $1.64B 9% -14% FY Adjusted EPS $7.20 $7.70 - $8.20 7%-14% $0.25 $7.95 - $8.45 10% -17% 1Reconciliation of expected fiscal year 2024 adjusted EPS and adjusted EBITDA for fiscal year 2024 to the most directly comparable GAAP measure is not available without unreasonable efforts because the Company cannot predict with sufficient certainty all the components required to provide such reconciliation. 2Represents illustrative FY24 Adj. EBITDA and FY24 Adj. EPS if separation transaction was completed at the outset of FY24, which would enable elimination of Transitional Overhead Costs.#30Appendix#31Debt & interest overview Debt Breakdown Tranche 31 Fixed vs Floating Debt Trend As of September 29, 2023 9/29 Debt Q3 '23 Rate Q4'23 Rate Revolver ($2.25B) $10M 6.5% 6.7% USD Term Loans $197M 6.5% 6.7% $31.1 $37.1 $33.0 $36.0 $36.1 $25.1 $21.6 GBP Term Loans $799M 6.2% 6.5% Total Floating $1,006M 6.3% 6.5% Sustainability-Linked Bond $500M 5.0% 5.0% Public Bond - 5Y $600M 6.4% $0.9 $1.4 $1.4 $1.4 Swapped $769M 2.0% 2.1% $1.4 $1.4 Total Fixed $1,869M 3.1% 4.3% $1.9 Total Debt $2,875M 5.0% 5.0% $2.6 $2.2 $2.0 $2.1 $1.8 $1.8 Hedge Notional (USD) Fair Value Fixed Rate¹ $1.0 Maturity 10 YR USD Floating $200M $37M 5 YR USD Floating $325M $20M 1.116% + Spread 0.704% +Spread Apr '30 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Feb '25 Fixed Debt ($B's) 10 YR GBP Floating $244M $50M 0.82% Spread Apr '30 Total $769M $102M Floating Debt ($B's) Net Interest Expense ($M's) 1Fixed Rates and spread includes new amendments OJacobs 2023#32Selected financial data Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY $'s in millions (unaudited) People and Places Solutions Backlog Revenue 2022 2022 2022 2022 2022 2023 2023 2023 2023 2023 16,930 16,950 17,527 17,014 17,014 17,243 17,562 17,498 17,345 17,345 1,921 2,163 2,223 2,228 8,535 2,227 2,345 2,470 2,512 9,554 Adj. Net Revenue¹ 1,419 1,564 1,549 1,541 6,072 1,517 1,661 1,687 1,703 6,567 Operating Profit 189 193 214 229 825 227 232 243 256 958 Operating Profit as a % of Adj. Net Revenue 13.3% 12.3% 13.8% 14.9% 13.6% 14.9% 14.0% 14.4% 15.0% 14.6% Critical Mission Solutions Backlog 7,524 7,509 7,219 7,622 7,622 7,632 8,136 8,097 8,264 8,264 Revenue 977 1,134 1,109 1,156 4,377 1,075 1,191 1,191 1,236 4,693 Operating Profit 91 95 88 81 356 82 94 99 103 378 Operating Profit as a % of Revenue 9.3% 8.3% 8.0% 7.0% 8.1% 7.6% 7.9% 8.3% 8.3% 8.1% Divergent Solutions Backlog 3,291 3,063 3,019 2,957 2,957 3,077 2,956 2,965 3,183 3,183 Revenue 193 239 218 242 892 214 241 239 252 947 Adj. Net Revenue 187 230 212 233 862 201 224 218 240 882 Operating Profit 23 17 12 15 68 12 25 21 24 82 Operating Profit as a % of Adj. Net Revenue 12.3% 7.4% 5.7% 6.6% 7.8% 6.0% 11.1% 9.5% 10.1% 9.3% PA Consulting Backlog 276 269 326 269 269 306 319 355 311 311 Revenue 290 297 278 254 1,119 282 301 287 288 1,158 Operating Profit 63 68 51 49 232 51 66 61 59 237 Operating Profit as a % of Revenue 21.8% 23.0% 18.5% 19.4% 20.7% 18.1% 21.8% 21.2% 20.6% 20.5% 32 1 Pass-through revenues for P&PS for the prior periods presented include certain minor adjustments to properly reflect amounts that had not been previously included and conform with the fiscal 2023 amounts presented. Jacobs 2023#33Delivering sustainable solutions City of Farmington Water & Wastewater Utilities Farmington, New Mexico, USA Incorporate digital solutions, support resiliency efforts & improve energy efficiency Argon Data Solutions: Boston Water & Sewer Commission Sewer Assessments Boston, Massachusetts, USA Al-powered solution to manage the inspection, maintenance and rehabilitation of pipelines EDF Nuclear Operations: Project Management Resources Framework UK Support energy security and the target of achieving net-zero carbon by 2050 Copenhagen Metro Operations & Maintenance Copenhagen, Denmark Strategy, operations and asset management in collaboration with PA Consulting Read more here. 33 Read more here. ✰ PlanBeyond Supporting the UN's SDGs with our sustainable business objectives GOOD HEALTH AND WELL-BEING Image courtesy of EDF Read more here. Read more here. 6 CLEAN WATER AND SANITATION 9 INDUSTRY, INNOVATION AND INFRASTRUCTURE 10 REDUCED INEQUALITIES 11 SUSTAINABLE CITIES AND COMMUNITIES 13 CUMATE ACTION ::: OJacobs 2023#34Environmental, Social & Governance (ESG) at Jacobs Aligned with the United Nations Sustainable Development Goals, Jacobs is focused on creating positive social and economic impact while protecting our environment and improving resilience. ■ Since 2019 we have voluntarily reported on a wide range of sustainability matters through our annual ESG Disclosures. These have been reported in alignment with the Sustainability Accounting Standards Board framework and informed by Global Reporting Initiative standards. We also disclose aspects of our performance in our Integrated Annual Report, Form 10-K, Proxy Statement and other public materials. ◉ Annually we disclose to CDP, the S&P Global Corporate Sustainability Assessment, and conduct a Climate Risk Assessment in line with the Task Force on Climate-related Financial Disclosures (TCFD). ■ Our overarching commitments: Target every project to become a climate response opportunity and/or contribute to the UN Sustainable Development Goals by fiscal 2025 Achieve net-zero greenhouse gas emissions across the value chain by 2040 ■ In 2023 we launched our inaugural Sustainability-Linked Bond to incorporate sustainability into our financing strategy. ☐ Every year, we invest in and partner with local communities - not only where our employees live and work, but globally, collaborating with charities and not-for-profit organizations to make a positive impact and live our values. ■ We are committed to respecting the rights and dignity of individuals within our operations and where we do business. We require our partners and supply chain to uphold the same level of commitment and due diligence to the human rights standards we hold ourselves accountable to. Governance Overview and ESG Documents Highlights Placed on Dow Jones Sustainability World Index 2022 Placed on CDP's "A List" for Climate in 2022 Gold medal in the EcoVadis Sustainability Ratings 2022 Achieved ISS Prime Status for our ESG corporate rating Received the World Environment Center's prestigious 2023 Gold Medal Award for International Corporate Achievement in Sustainable Development Executive Chair of Jacobs Board of Directors and former CEO Steve Demetriou received the Individual Leadership Award at the Climate Registry's 2023 Climate Leadership Awards 34 Jacobs 2023#35Our foundation is strong Jacobs Challenging today. Reinventing tomorrow. 35 Purpose To create a more connected, sustainable world. Values We do things right. We challenge the accepted. Employee Value Statement We aim higher. We live inclusion. Jacobs. A world where you can. Where you can be you. Where you can do. Where you can grow.#3636 36 Use of Non-GAAP financial measures and operating metrics (cont.) Adjustments to derive adjusted net earnings from continuing operations and adjusted EPS from continuing operations are calculated on an after-tax basis. Free cash flow is calculated using the reported statement of cash flows, net cash provided by operating activities less additions to property and equipment. Adjusted EBITDA is calculated by adding income tax expense, depreciation expense and adjusted interest expense, and deducting interest income from adjusted net earnings from continuing operations. Cash conversion is the ratio of net cash provided by operating activities to GAAP net earnings from continuing operations. Certain percentage changes are quantified on a constant currency basis, which provides information assuming that foreign currency exchange rates have not changed between the prior and current periods. For purposes of constant currency calculations, we use the prior period average exchange rates as applied to the current period adjusted amounts. We believe that the measures listed above are useful to management, investors and other users of our financial information in evaluating the Company's operating results and understanding the Company's operating trends by excluding or adding back the effects of the items described above and below, the inclusion or exclusion of which can obscure underlying trends. Additionally, management uses such measures in its own evaluation of the Company's performance, particularly when comparing performance to past periods, and believes these measures are useful for investors because they facilitate a comparison of our financial results from period to period. This presentation also contains certain operating metrics which management believes are useful in evaluating the Company's performance. Backlog represents revenue or gross margin, as applicable, we expect to realize for work to be completed by our consolidated subsidiaries and our proportionate share of work to be performed by unconsolidated joint ventures. For more information on how we determine our backlog, see our Backlog Information in our most recent annual report filed with the Securities and Exchange Commission. Book-to-bill ratio is an operational measure representing the ratio of change in backlog revenue, or backlog gross margin, since the prior reporting period plus reported revenue or reported gross margin for the reporting period to the reported revenues or gross margin for the same period. We regularly monitor these operating metrics to evaluate our business, identify trends affecting our business, and make strategic decisions. The Company provides non-GAAP measures to supplement U.S. GAAP measures, as they provide additional insight into the Company's financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance with, or a substitute for, U.S. GAAP measures. In addition, other companies may define non-GAAP measures differently, which limits the ability of investors to compare non-GAAP measures of the Company to those used by our peer companies. The following tables reconcile the components and values of U.S. GAAP earnings from continuing operations before taxes, income taxes from continuing operations, net earnings attributable to Jacobs from continuing operations and Diluted Net Earnings from Continuing Operations Per Share (which we refer to as EPS from continuing operations) to the corresponding "adjusted" amount and revenue to adjusted net revenue. For the comparable periods presented below, such adjustments consist of amounts incurred in connection with the items described above. Amounts are shown in thousands, except for per-share data (note: earnings per share amounts may not add across due to rounding). Jacobs 2023#37Use of Non-GAAP financial measures and operating metrics In this presentation, the Company has included certain non-GAAP financial measures as defined in Regulation G promulgated under the Securities Exchange Act of 1934, as amended. These non-GAAP measures are described below. Amounts in the following tables may not add due to rounding. Adjusted Net revenue is calculated excluding pass through revenue of the Company's People & Places Solutions and Divergent Solutions segments from the Company's revenue from continuing operations. Pass through revenues are amounts we bill to clients on projects where we are procuring subcontract labor or third-party materials and equipment on behalf of the client. These amounts are considered pass throughs because we receive no or only a minimal mark-up associated with the billed amounts. Adjusted net revenue growth is growth expressed as a percentage of adjusted net revenue from the prior comparable period. We have amended our name and convention for revenue, excluding pass-through costs from "net revenue" to "adjusted net revenue." Note, this is simply a name change intended to make the non-GAAP nature of this measure more prominent and does not impact measurement. Adjusted earnings from continuing operations before taxes, adjusted income taxes from continuing operations, adjusted net earnings from continuing operations and adjusted EPS from continuing operations are calculated by: 1. 2. Excluding items collectively referred to as Restructuring, Transaction and Other Charges, which include: a. b. C. costs and other charges associated with our Focus 2023 transformation initiatives, including activities associated with the re-scaling and repurposing of physical office space, employee separations, contractual termination fees and related expenses, referred to as "Focus 2023 Transformation, mainly real estate rescaling efforts"; transaction costs and other charges incurred in connection with the acquisitions of BlackLynx and StreetLight and the strategic investment in PA Consulting, including advisor fees, change in control payments, and the impact of the quarterly adjustment to the estimated performance based payout of contingent consideration to the sellers in connection with certain acquisitions; impacts resulting from the EPS numerator adjustment relating to the partial recovery of the PA redeemable non-controlling interests preference share redemption value and similar transaction costs and expenses (collectively referred to as "Transaction Costs"); recoveries, costs and other charges associated with restructuring activities implemented in connection with our announced plan to separate the CMS business, including advisor fees, involuntary terminations and related costs, the acquisitions of CH2M, BlackLynx, and StreetLight, the strategic investment in PA Consulting, the sale of the ECR business and other related cost reduction initiatives, which included involuntary terminations, costs associated with co-locating offices of acquired companies, separating physical locations of continuing operations, professional services and personnel costs, amounts relating to certain commitments and contingencies relating to discontinued operations of the CH2M business, including the final settlement charges relating to the Legacy CH2M Matter, net of previously recorded reserves and charges associated with the impairment and final closing activities of our AWE ML joint venture (collectively referred to as "Restructuring, integration, separation and other charges"). Excluding items collectively referred to as Other adjustments, which include: a. adding back amortization of intangible assets; b. C. d. impact of certain subsidiary level contingent equity-based agreements in connection with the transaction structure of our PA Consulting investment; impacts related to tax rate increases in the UK in a prior period; certain non-routine income tax adjustments for the purposes of calculating the Company's annual non-GAAP effective tax rate to facilitate a more meaningful evaluation of the Company's current operating performance and comparisons to the Company's operating performance in other periods. 37 Jacobs 2023#3838 38 Reconciliation of GAAP to Adjusted Results Reconciliation of Earnings from Continuing Operations Before Taxes to Adjusted Earnings from Continuing Operations Before Taxes (in thousands) Earnings from Continuing Operations Before Taxes Three Months Ended September 29, 2023 September 30, 2022 Twelve Months Ended September 29, September 30, 2023 2022 240,199 $ 279,862 916,679 $ 876,347 Restructuring, Transaction and Other Charges (1): Focus 2023 Transformation, mainly real estate rescaling efforts 8,199 3,764 47,495 80,696 Transaction costs 372 6,125 15,985 24,329 Restructuring, integration and separation charges 46,639 (24,801) 85,540 80,367 Other Adjustments (2): Amortization of intangibles Other 51,674 (4,162) 51,713 203,906 980 198,602 5 Adjusted Earnings from Continuing Operations Before Taxes 342,921 $ 316,663 $ 1,270,585 $ 1,260,346 (1) Includes pre-tax non-cash charge impacts from the separation activities around the CMS spin-off and from restructuring charges relating to the Company's investment in PA Consulting for the three months and year ended September 29, 2023, along with real estate impairments associated with the Company's Focus 2023 transformation program for the three months and years ended September 29, 2023 and September 30, 2022, and for the year ended September 30, 2022 related to the final pre-tax settlement of the Legacy CH2M Matter, net of previously recorded reserves, approximately $27 million in third party recoveries recorded as receivables reducing SG&A, as well as pre-tax earnings impacts from charges associated with various transaction costs incurred with our acquisition and restructuring related activity associated with Company restructuring and integration programs. (2) Includes pre-tax charges for the removal of amortization of intangible assets for the three months and years ended September 29, 2023 and September 30, 2022, and for the three months and year ended September 29, 2023, the impact of certain subsidiary level contingent equity-based agreements in connection with the transaction structure of our PA Consulting investment. Jacobs 2023#39Reconciliation of GAAP to Adjusted Results 39 Reconciliation of Operating Profit to Adjusted Operating Profit (in thousands) Operating Profit Restructuring, Transaction and Other Charges (1) Focus 2023 Transformation, mainly real estate rescaling efforts Transaction costs Restructuring and integration charges Other Adjustments (2) Amortization of intangibles Other Adjusted Operating Profit $ September 29, 2023 Three Months Ended September 30, 2022 2023 Twelve Months Ended September 29, September 30, 2022 277,828 $ 308,540 1,075,237 $ 917,850 10,643 5,317 50,872 89,365 372 6,125 15,985 24,329 46,639 (24,544) 85,540 84,190 51,674 (4,162) 382,994 $ 51,713 203,906 198,602 980 347,151 $ 1,432,520 $ 1,314,336 (1) Includes estimated operating profit impacts relating to the separation activities around the CMS spin-off and from restructuring charges relating to the Company's investment in PA Consulting for the three months and year ended September 29, 2023, along with real estate impairments associated with the Company's Focus 2023 transformation program for the three months and years ended September 29, 2023 and September 30, 2022, and for the year ended September 30, 2022 related to the final pre-tax settlement of the Legacy CH2M Matter, net of previously recorded reserves, approximately $27 million in third party recoveries recorded as receivables reducing SG&A, as well as operating profit impacts from charges associated with various transaction costs incurred with our acquisition and restructuring related activity associated with Company restructuring and integration programs. (2) Includes estimated operating profit impacts from amortization of intangible assets for the three months and years ended September 29, 2023 and September 30, 2022 and estimated operating profit impacts on certain subsidiary level contingent equity-based agreements in connection with the transaction structure of our PA Consulting investment for the three months and year ended September 29, 2023. Jacobs 2023#40Reconciliation of GAAP to Adjusted Results Reconciliation of Net Earnings Attributable to Jacobs from Continuing Operations to Adjusted Net Earnings Attributable to Jacobs from Continuing Operations (in thousands) 40 40 Net Earnings Attributable to Jacobs from Continuing Operations Three Months Ended September 29, 2023 September 30, 2022 Twelve Months Ended September 29, September 30, 2023 2022 $ 149,732 $ 224,663 S 666,619 $ 644,071 After-tax effects of Restructuring, Transaction and Other Charges (1): Focus 2023 Transformation, mainly real estate rescaling efforts 5,959 2,715 35,384 63,558 Transaction costs 113 4,139 11,060 17,867 Restructuring, integration and separation charges 41,058 (49,200) 67,549 36,568 After-tax effects of Other Adjustments (2): Amortization of intangibles 34,371 Other income tax adjustments Other 12,469 (2,146) 34,572 14,171 135,426 (773) 626 131,537 3,559 Adjusted Net Earnings Attributable to Jacobs from Continuing Operations 241,556 $ 231,060 $ 915,891 $ 897,164 (1) Includes estimated after-tax and related noncontrolling interest impacts from the separation activities around the CMS spin-off and from restructuring charges relating to the Company's investment in PA Consulting for the three months and year ended September 29, 2023, along with real estate impairments associated with the Company's Focus 2023 transformation program for the three months and years ended September 29, 2023 and September 30, 2022, and for the year ended September 30, 2022 related to the final pre-tax settlement of the Legacy CH2M Matter, net of previously recorded reserves, third party recoveries recorded as receivables reducing SG&A, as well as net earnings impacts from charges associated with various transaction costs incurred with our acquisition and restructuring related activity associated with Company restructuring and integration programs. (2) Includes estimated after-tax and noncontrolling interest impacts from amortization of intangible assets for the three months and years ended September 29, 2023 and September 30, 2022, certain income tax adjustments for the purposes of presenting the Company's expected annual non-GAAP effective tax rate to facilitate a more meaningful evaluation of the Company's current operating performance and comparisons to the Company's operating performance in other periods for the three months ended September 29, 2023 and September 30, 2022 and additionally, for the year-to-date periods, impacts related to tax rate increases in the UK in a prior period and estimated tax impacts on certain subsidiary level contingent equity-based agreements in connection with the transaction structure of our PA Consulting investment for the three months and year ended September 29, 2023. Jacobs 2023#41Reconciliation of GAAP to Adjusted Results Reconciliation of Noncontrolling Interests from Continuing Operations to Adjusted Noncontrolling Interests from Continuing Operations (in thousands) 41 111 Three Months Ended September 29, 2023 September 30, 2022 September 29, 2023 Twelve Months Ended September 30, 2022 Noncontrolling Interests from Continuing Operations (17,615) $ (15,841) $ (53,879) $ (71,373) Restructuring, Transaction and Other Charges (1) Focus 2023 Transformation, mainly real estate rescaling efforts (99) Transaction costs (395) (597) Restructuring and integration charges 511 (491) (99) (2,152) (4,102) (597) (914) Other Adjustments (2) Amortization of intangibles (5,007) Other income tax adjustments (142) (5,405) 184 Other 1,062 (19,881) 210 (299) (22,438) 373 - Adjusted Noncontrolling Interests from Continuing Operations $ (21,685) $ (22,150) $ (80,202) $ (94,949) (1) Includes noncontrolling interests amounts associated with the costs incurred with Company acquisition related activity costs. (2) Includes noncontrolling interests amounts relating to amortization of intangible assets for the three months and years ended September 29, 2023 and September 30, 2022, certain income tax adjustments for the purposes of presenting the Company's expected annual non-GAAP effective tax rate to facilitate a more meaningful evaluation of the Company's current operating performance and comparisons to the Company's operating performance in other periods for the three months ended September 29, 2023 and September 30, 2022 and additionally, for the year-to-date periods, impacts related to tax rate increases in the UK in a prior period and estimated tax impacts on certain subsidiary level contingent equity-based agreements in connection with the transaction structure of our PA Consulting investment for the three months and year ended September 29, 2023. Jacobs 2023#42Reconciliation of GAAP to Adjusted Results Reconciliation of Income Tax Expense from Continuing Operations to Adjusted Income Tax Expense from Continuing Operations (in thousands) 42 Three Months Ended September 29, 2023 September 30, 2022 Twelve Months Ended September 29, September 30, 2023 2022 Income Tax Expense from Continuing Operations $ (72,852) $ (39,358) $ (196,181) $ (160,903) Tax Effects of Restructuring, Transaction and Other Charges (1) Focus 2023 Transformation, mainly real estate rescaling efforts (2,142) Transaction costs 136 (1,049) (1,388) (12,011) (2,773) (17,138) (5,865) Restructuring, integration and separation charges (6,093) (23,910) (13,888) (42,885) Tax Effects of Other Adjustments (2) Amortization of intangibles (12,295) Other income tax adjustments Other 12,610 954 (11,736) 13,987 (48,599) (983) (55) (44,627) 3,185 Adjusted Income Tax Expense from Continuing Operations $ (79,682) $ (63,454) $ (274,490) $ (268,233) (1) Includes estimated income tax impacts from the separation activities around the CMS spin-off and from restructuring charges relating to the Company's investment in PA Consulting for the three months and year ended September 29, 2023, along with real estate impairments associated with the Company's Focus 2023 transformation program for the three months and years ended September 29, 2023 and September 30, 2022, and for the year ended September 30, 2022 related to the final pre-tax settlement of the Legacy CH2M Matter, net of previously recorded reserves, third party recoveries recorded as receivables reducing SG&A, as well as income tax expense impacts from charges associated with various transaction costs incurred with our acquisition and restructuring related activity associated with Company restructuring and integration programs. (2) Includes estimated income tax impacts on amortization of intangible assets for the three months and year ended September 29, 2023 and September 30, 2022, certain income tax adjustments for the purposes of presenting the Company's expected annual non-GAAP effective tax rate to facilitate a more meaningful evaluation of the Company's current operating performance and comparisons to the Company's operating performance in other periods for the three months ended September 29, 2023 and September 30, 2022 and additionally, for the year-to-date periods, impacts related to tax rate increases in the UK in a prior period and estimated tax impacts on certain subsidiary level contingent equity- based agreements in connection with the transaction structure of our PA Consulting investment for the three months and year ended September 29, 2023. Jacobs 2023#43Reconciliation of GAAP to Adjusted Results Reconciliation of Diluted Net Earnings from Continuing Operations Per Share to Adjusted Diluted Net Earnings from Continuing Operations Per Share 43 Diluted Net Earnings from Continuing Operations Per Share $ Three Months Ended September 29, 2023 September 30, 2022 September 29, 2023 Twelve Months Ended September 30, 2022 1.25 $ 1.75 $ 5.31 $ 4.98 After-tax effects of Restructuring, Transaction and Other Charges (1): Focus 2023 Transformation, mainly real estate rescaling efforts 0.05 0.02 0.28 0.49 Transaction costs (0.06) 0.03 0.02 0.14 Restructuring, integration and separation charges 0.31 (0.38) 0.53 0.28 After-tax effects of Other Adjustments (2): Amortization of intangibles 0.27 0.27 1.06 1.02 Other income tax adjustments 0.10 0.11 (0.01) 0.03 Other (0.02) 0.00 0.00 0.00 Adjusted Diluted Net Earnings from Continuing Operations Per Share $ 1.90 $ 1.80 $ 7.20 $ 6.93 (1) Includes estimated per-share impacts from the separation activities around the CMS spin-off and from restructuring charges relating to the Company's investment in PA Consulting for the three months and year ended September 29, 2023, along with real estate impairments associated with the Company's Focus 2023 transformation program for the three months and years ended September 29, 2023 and September 30, 2022, and for the year ended September 30, 2022, the final pre-tax settlement of the Legacy CH2M Matter, net of previously recorded reserves and third party recoveries recorded as receivables reducing SG&A. Fiscal 2023 includes $8.3 million or $0.06 per share in EPS numerator adjustments associated with redeemable noncontrolling interests preference share repurchase and reissuance activities, which does not affect net earnings. Also includes related impacts associated with various transaction costs incurred with our acquisition and restructuring related activity costs associated with Company restructuring and integration programs. (2) Includes estimated per-share impacts from amortization of intangible assets for the three months and years ended September 29, 2023 and September 30, 2022, certain income tax adjustments for the purposes of presenting the Company's expected annual non-GAAP effective tax rate to facilitate a more meaningful evaluation of the Company's current operating performance and comparisons to the Company's operating performance in other periods for the three months ended September 29, 2023 and September 30, 2022 and additionally, for the year-to-date periods, impacts related to tax rate increases in the UK in a prior period and certain subsidiary level contingent equity-based agreements in connection with the transaction structure of our PA Consulting investment for the three months and year ended September 29, 2023. Jacobs 2023#44Reconciliation of adjusted net earnings from continuing operations attributable to Jacobs to adjusted EBITDA and free cash flow 44 Reconciliation of Adjusted EBITDA (in thousands): Adj Net earnings from Continuing Operations Adj. Income Tax Expense for Continuing Operations Adj. Net earnings from Continuing Operations attributable to Jacobs before income taxes Depreciation expense Interest income Interest expense 231,060 $ Three Months Ended September September 29, 2023 30, 2022 $ 241,556 $ (79,682) 29, 2023 Twelve Months Ended September September 30, 2022 897,164 (268,233) 915,891 $ (63,454) (274,490) 321,238 294,514 1,190,381 1,165,397 26,476 24,533 103,346 102,454 (7,546) (1,565) (26,013) (4,489) 43,631 32,695 168,108 100,246 Adjusted EBITDA Reconciliation of Free Cash Flow (in thousands): $ 383,799 $ 350,177 $ 1,435,822 $ 1,363,608 Net cash provided by operating activities Additions to property and equipment Free cash flow Net cash used for investing activities Net cash (used for) provided by financing activities Three Months Ended Twelve Months Ended September September September September 29, 2023 30, 2022 29, 2023 30, 2022 $ 219,361 $ 277,540 $ 974,763 $ 474,709 (39,246) $ (47,562) (137,486) (127,615) 180,115 $ 229,978 $ 837,277 $ 347,094 $ (39,239) $ (47,187) $ (145,663) $ (538,419) $ (316,066) $ (141,594) $(1,086,410) $ 320,234 Jacobs 2023#45Reconciliation of Other Corporate Expenses to Adjusted Unallocated Corporate Costs 45 Reconciliation of Other Corporate Expenses to Adjusted Unallocated Corporate Costs Three Months Ended Twelve Months Ended (in thousands) September 29, 2023 September 30, 2022 September 29, 2023 September 30, 2022 Other Corporate Expenses $ (107,259) $ (79,961) $ (427,053) $ (364,440) Amortization of intangibles $ 51,674 $ 51,713 $ Other $ (4,162) $ $ 203,906 $ 980 198,602 $ Adjusted Unallocated Corporate Costs $ (59,747) $ (28,248) $ (222,167) $ (165,838) Jacobs 2023#46Reconciliation of Jacobs Constant Currency Adj. Net Revenue $'s in millions Adjusted Net Revenue impact of Constant Currency Consolidated Line of Business People & Places Critical Mission PA Consulting Solutions Solutions Divergent Solutions Q4'23 Actual Revenue $3,467 $1,703 $1,236 $288 $240 Currency Impact (52) (16) (15) (21) 0 Adj. Net Revenue in CC $3,415 $1,687 $1,221 $267 $240 Q4'22 Revenue $3,184 $1,541 $1,156 $254 $233 Growth 7.3% 9.5% 5.6% 5.1% 3.0% 46 46 Jacobs 2023#47Reconciliation of Jacobs Constant Currency Adjusted Operating Profit 47 $'s in millions Adj. OP impact of Constant Currency Adj. Unalloc. Corp. Costs impact of Constant Currency Consolidated Line of Business People & Places Solutions Critical Mission Solutions PA Consulting Divergent Corporate Functions Solutions Q4'23 Adj. Operating Profit $383 $256 $103 $59 $24 ($60) Currency Impact (5) (2) (2) (4) (0) 3 Adjusted Operating Profit in CC $378 $254 $101 $55 $24 ($56) Q4'22 Adjusted Operating Profit $347 $229 $81 $49 $15 ($28) Growth 8.8% 10.9% 24.0% 11.4% 56.7% 99.7% Jacobs 2023#48Reconciliation of US GAAP Revenue to Adj. Net Revenue by Segment 889 48 Segment Information (in thousands): Unaudited Revenues from External Customers: For the Three Months Ended September 29, 2023 September 30, 2022 For the Years Ended September 29, 2023 4,693,499 $ September 30, 2022 Critical Mission Solutions $ 1,236,423 $ People & Places Solutions 2,512,113 Pass Through Revenue (1) (809,277) People & Places Solutions Adjusted Net Revenue (1) $ 1,702,836 $ Divergent Solutions 251,936 Pass Through Revenue (12,452) Divergent Solutions Adjusted Net Revenue $ 239,484 $ PA Consulting Total Revenue Adjusted Net Revenue (1) $ 288.240 $ $ 4,288,712 $ $ 3,466,983 $ 1,156,369 $ 2,228,130 (687,405) 1,540,725 $ 242,197 (9,306) 232,891 $ 254,352 $ 3,881,048 $ 3,184,337 $ 9,553,857 (2,986,643) 6,567,214 $ 946,914 4,376,562 8,534,650 (2,462,691) 6,071,959 892,317 (64,470) (29,902) 882,444 $ 1,158,144 $ 16,352,414 $ 13,301,301 $ 862,415 1,119,296 14,922,825 12,430,232 For the Three Months Ended September 29, 2023 September 30, 2022 For the Years Ended September 29, 2023 September 30, 2022 Segment Operating Profit: Critical Mission Solutions People & Places Solutions 102,897 $ 256,216 81,379 229,349 $ Divergent Solutions 24,146 15,296 378,201 $ 957,714 81,768 355,563 824,834 67,552 PA Consulting 59,482 49,375 237,003 232,225 Total Segment Operating Profit 442,741 375,399 1,654,686 1,480,174 Other Corporate Expenses (2) (107,259) (79,961) (427,053) (364,440) Restructuring, Transaction and Other (Charges) Recoveries (3) (57,654) 13,102 (152,396) (197,884) Total U.S. GAAP Operating Profit 277,828 308,540 1,075,237 917,850 Total Other Expense, Net (4) (37,629) (28,678) (158,558) (41,503) Earnings Before Taxes from Continuing Operations 240,199 $ 279,862 $ 916,679 $ 876,347 (1) (2) (3) (4) Pass-through revenues for P&PS for the prior periods presented include certain minor adjustments to properly reflect amounts that had not been previously included and to conform with the fiscal 2023 amounts presented. Other corporate expenses include intangibles amortization of $51.7 million for both three-month periods ended September 29, 2023 and September 30, 2022 and $203.9 million and $198.6 million for the years ended September 29, 2023 and September 30, 2022, respectively. Additionally, the year ended September 29, 2023 included approximately $15.0 million in net favorable impacts from cost reductions compared to the prior year period, which was associated mainly with net favorable impacts during first quarter from changes in employee benefit programs of $41 million offset by approximately $26 million in higher spend in company technology platforms and other personnel and corporate cost increases. The three months and year ended September 29, 2023 include and $50.0 million and $63.4 million, respectively, relating to the separation activities (mainly professional services and employee separation costs) around the CMS separation, $(2.9) million and $14.3 million, respectively, in restructuring and other charges relating to the Company's investment in PA Consulting (primarily employee separation costs) and $10.6 million and $48.2 million, respectively, in charges associated mainly with real estate impairments. The three months and year ended September 30, 2022 include $4.0 million and $78.3 million, respectively, in charges associated mainly with real estate impairments. Included in the year ended September 30, 2022 is $91.3 million pre-tax related to the final settlement of the Legacy CH2M Matter and net of previously recorded reserves and approximately $27 million in third party recoveries was recorded as receivables reducing SG&A. The year ended September 30, 2022 included a $13.9 million gain related to a cost method investment sold during the period and a gain of $8.7 million related to lease terminations. The increase in net interest expense from fiscal 2022 to fiscal 2023 is due primarily to higher interest rates. Jacobs 2023#49Reconciliation of US GAAP OP to Adj. EBITDA (a) (b) (c) (d) (e) = (b) + (c) + (d) (f) = (a) -(e) Total Jacobs Total CMS Total DVS DVS RemainCo GAAP OP from continuing Ops Add-back: Restructuring, Transactions and Other (Charges) Recoveries 1,075 378 82 (13) CMS/C&I 447 iJacobs 629 136 136 Add-back: Deal Costs 17 17 Add-back: Intangible Amortization 204 204 Adjusted Operating Profit 1,433 378 82 (13) 447 986 Misc. Income (Expense) (20) (3) 0 (0) (3) (17) Noncontrolling Interest (80) (13) (13) (67) Add-back: Depreciation 103 10 10 (3) 17 86 Less: CMS/C&I G&A Allocation 16 1 17 (17) Adjusted EBITDA 1,436 388 93 (16) 465 971 49 Jacobs 2023#50Reconciliation of US GAAP Revenue to Adjusted Net Revenue Revenues from External Customers Pass Through Revenue Adjusted Net Revenue 50 (a) (b) (c) (d) Total Jacobs Total CMS Total DVS DVS RemainCo (e) = (b) + (c) + (d) CMS/C&I (f) = (a) - (e) ¡Jacobs 16,352 4,693 947 (140) 5,500 10,852 (3,051) (64) 3 (62) (2,989) 13,301 4,693 882 (138) 5,438 7,863 Jacobs 2023#51Copyright notice Important © Copyright Jacobs 2023. All rights reserved. The content and information contained in this presentation are the property of the Jacobs Group of companies ("Jacobs Group"). Publication, distribution, or reproduction of this presentation in whole or in part without the written permission of Jacobs Group constitutes an infringement of copyright. Jacobs, the Jacobs logo, and all other Jacobs Group trademarks are the property of Jacobs Group. NOTICE: This presentation has been prepared exclusively for the use and benefit of Jacobs Group client. Jacobs Group accepts no liability or responsibility for any use or reliance upon this presentation by any third party. 51#52Jacobs Challenging today. Reinventing tomorrow. in O f ◉