#1Jacobs Investor Presentation February 2019 JACOBS#2Forward-Looking Statement Disclaimer Certain statements contained in this presentation constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this presentation that are not based on historical fact are forward-looking statements. Although such statements are based on management's current estimates and expectations, and 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. For a description of these and other risks, uncertainties and other 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 28, 2018, our Quarterly Report on Form 10-Q for the quarter ended December 28, 2018, as well as our other filings with the SEC. We are 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. Non-GAAP Financial Measures 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. The non-GAAP financial measures used herein include: adjusted net income, adjusted EPS, adjusted operating profit, adjusted operating profit margin, adjusted EBITDA and net revenue. More information about these non-GAAP financial measures and reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found at the end of this presentation. Reconciliation of the adjusted pro forma EPS outlook for fiscal 2019 and the three year targets for net revenue, adjusted operating profit and adjusted operating profit margin to the most directly comparable GAAP measure is not available without unreasonable efforts because the Company cannot predict with sufficient certainty all of the components required to provide such reconciliation, including with respect to the costs and charges relating to transaction expenses, restructuring and integration to be incurred in fiscal 2019 and the three year period ending with fiscal 2021. Pro Forma Figures During this presentation, we may discuss comparisons of current quarter results to prior periods on a pro forma adjusted basis. The pro forma combined adjusted figures for first quarter of fiscal 2018 were calculated by using revenue and income from continuing operations of the combined Jacobs and CH2M entities as if the acquisition of CH2M had occurred prior to the first quarter of fiscal 2018, as adjusted for (i) the exclusion of restructuring and other related charges, (ii) the deconsolidation of CH2M's investment in Chalk River as if deconsolidated on October 1, 2016 and (iii) the exclusion of the revenue and operating results associated with CH2M's MOPAC project. In addition, each quarterly period of fiscal 2018, which has been recast to reflect the Company's new segment realignment, backlog methodology and pension cost changes, has been further adjusted to reflect the updated cost allocation methodology, which became effective for the first quarter of fiscal 2019. Readers should consider this information together with a comparison to Jacobs' historical financial results as reported in Jacobs' filings with the SEC, which reflect Jacobs-only performance for periods prior to the closing of the CH2M acquisition on December 15, 2017, and CH2M's historical financial results as reported in CH2M's filings with the SEC. In addition, we may discuss current estimates of the pro forma impact of the proposed sale of ECR to WorleyParsons to the estimated future operating results of the Company. These estimated pro forma operating results were calculated by excluding the estimated segment operating results of the ECR line of business as if the transaction closed immediately prior to the beginning of the period presented, and adjusted to reflect (i) assumed estimated net proceeds of $2.5 billion from the sale, (ii) the repayment of the Company's $1.5 billion term loan and outstanding balance under the Company's revolving credit facility with the cash proceeds from the transaction, (iii) the elimination of estimated annualized stranded costs by the end of fiscal 2019, and (iv) the exclusion of estimated restructuring and integration costs relating the CH2M acquisition and estimated restructuring and separation costs relating to the proposed transaction. We believe this information helps provide additional insight into the underlying trends of our business when comparing current performance against prior periods and the expected impact of the pending ECR divestiture. 2 JACOBS ®#33 Key Messages 1 ■ Outperformed strategic targets and transformed the portfolio 2 Launching accelerated profitable growth strategy 3 Empowering our culture; flexing our innovation muscle 4 Targeting top decile operational performance 5 Committing to continued strong Total Shareholder Return#4Drove performance through organizational transformation Key Performance Indicator Accountability GOOD MOOD MENTA POSITIVE THINKING HEALTH www Positive Mental Health N Inclusion & Diversity Safety BeyondZeroⓇ • Industry leading · safety performance Sustained commitment to continuous improvement Expanded to culture of caring • Drove accountability and empowerment • Launched new performance management platform • Cascaded CEO goals organization wide - Stress Identified as 21st Century's #1 health epidemic1 Industry leader for positive mental health • Trained 1,000+ positive mental health champions 4 Strong Foundation 1 SOURCE: World Health Organization • • Launched CEO-led Inclusion & Diversity council Initiated pay equity review Achieved executive team diversity of 50% & Board diversity of 45% Tied inclusion goals to executive compensation Increasing Focus JACOBS Ⓡ#5Two deliberate actions significantly transforming our portfolio Acquisition of CH2M Pending Divestiture of Energy, Chemicals & Resources (ECR) 5 AVA JACOBS ®#6Strong execution against strategic and financial goals 2016-2018 2017 2019 Strategic ECR Sale ● Operational Improvements Aligned lines of business to improve accountability Drove operational improvement - adj. pro forma G&A as % of gross profit down >180 bps • Increased adj. operating profit margins by ~100 bps . Focused on more profitable end markets; gross margin in backlog up ~200 bps Strategic CH2M Acquisition ($3.3B, ~7.0x EBITDA, incl. synergies) • • • Accelerated strategy in key markets - water, transportation, environmental and nuclear Portfolio more aligned with favorable long-term secular growth trends Accretive to adj. operating profit margin of ~40 bps Overachieving original cost synergies, now expect $175M; revenue synergies materializing in backlog and pipeline • ($3.3B, 11.5x multiple) • Increases focus on higher value portfolio Eliminates most cyclical and lowest margin businesses Accretive to gross margin by ~150 bps and adj. operating profit margin of ~25 bps Significantly strengthens balance sheet and unlocks over $2.5B in capital 6 Transforming our strategic and financial profile JACOBS Ⓡ#7Delivering on commitments 7 2016-2019 2016 Baseline Investor Day Targets 2016-2019E Forecast Organic Gross Revenue Growth Flat 2 to 4% (CAGR) 2%+ (CAGR) Revenue in Priority Growth Areas 50% ~65% (incl. M&A) >75% Adj. Operating Profit Margin 4.8% 100 to 150 bps >150 bps 50 to 150 bps, Pro Forma ROIC 8.9% <50 bps or ~10% Tracking well against our 3-year Strategic Plan JACOBS ®#8Sale of ECR creates stronger, less cyclical portfolio ECR Organic Revenue Jacobs excl. ECR1 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 8 1 Historical gross revenue for Jacobs excluding ECR and excluding the first year inorganic impact from material acquisitions JACOBS#9Pro Forma Portfolio Profile (excl. ECR) Geographic Mix Gross Revenue US ■International 29% 71% Strong Stability 67% recurring gross revenue of Next 12 Months 70% (NTM) Gross Revenue in Backlog Attractive Profitability 7.2% Adj. Operating Profit as a % of Net Revenue (FY18) Risk Profile Gross Revenue ■Reimbursable & Fixed Price Services ■Fixed Price Construction 9 Deep Technical Expertise Architects & Engineers Significant Financial Flexibility 6% 16,000 1,400 Consultants / Planners 600 Cyber Engineers 7,500 Gov't Security Clearance 3,500 Scientists & Technologists 94% 5,000 Designers Over $3B of balance sheet capacity JACOBS ®#1010 Unleashing Jacobs potential through joint innovation ATN BIAF Aligning around national government priorities Reduce Delivering digitally-enabled solutions Extend life cycle of operating cost facility & infrastructure Less energy Enhance safety Common Customer Challenges Cybersecurity Applied Geospatial Science Automated Design Internet of Things Solving critical, global infrastructure challenges Data Privacy + Protection Leveraging innovation across our interconnected portfolio Predictive Analytics ER JACOBS ®#1111 Agile Focused, disciplined and agile capital allocation Discipline Focus Organic Profitable Growth Strategy Lines of Business aligned to long-term strategy Investment in higher margin businesses Disciplined cost management Proactive, ongoing portfolio evaluation Value-Creating M&A Acquisition targets aligned with ATN and BIAF strategy Accelerating growth in government services, digital solutions and select regions IRR to exceed risk adjusted double-digit hurdle rate Year one adjusted EPS accretion with expectation for margin enhancement Disciplined integration planning, execution and tracking are critical Targeting Continued Superior Shareholder Return Return of Capital Track Record and Philosophy . $750M share repurchase - 2014 to 2018 ($46 average price) • $238M share repurchase - December 2018 to February 2019 ($61 average price) Announced $250M ASR as part of recent $1B additional share authorization Dividend to grow with earnings; demonstrating confidence in FCF generation JACOBS ®#12Focusing on higher growth, higher margin sectors 2016-2019 Strategy (Illustrative) Targeting secular growth markets More profitable geographies • 2019-2021 Strategy (Illustrative) Exiting direct hire construction Expanding in secular growth markets Higher Technology Solutions Consulting/Engineering / Design Services Operations, Maintenance & Management Construction 12 Higher margin solutions. . Lower risk engagements • Exit low margin businesses • Targeting higher margin digital solutions Overall Market 2016 Jacobs 2016 Jacobs 2019 Jacobs 2021 JACOBS ®#13Updating financial metrics, aligned with profitability and cash generation Pro Forma Net Revenue Metrics FY19 Outlook (excl. ECR) • Net revenue growth of 16% in fiscal 2018 • • . • Adj. operating profit as a percentage of net revenue 7.2% in fiscal 2018 BIAF net revenue growth of 12% in fiscal 2018 Adjusted Pro Forma EBITDA (excl. ECR) of $920M to $1.0B · Depreciation of ~$80M . Net interest expense and other income of ~$30M • • BIAF adj. operating profit as a percentage of net revenue 10% ATN gross revenue equals net revenue, with no impact to operating profit margin Tax rate of ~25% Weighted average share count of ~139M benefiting from partial year impact of share buy-back activity New Pro Forma Adjusted EPS Outlook of $4.40 to $4.80 Excludes ECR discontinued operations, ECR costs in continuing operations, incremental pre-close interest and amortization of acquired intangibles New Adj. pro forma EPS $4.40 to $4.80 with $5+ FY20 earnings power 13 ¹Net revenue calculated by excluding pass through revenues of BIAF JACOBS ®#14Setting 2021 Financial Targets 14 Organic Net Revenue Growth 2018 Pro Forma Baseline 2021 Target 16% 3% to 5% CAGR Adj. Net Operating Profit Margin 7.2% 125 to 175 bps Adj. EBITDA Growth ROIC 13% Double-Digit CAGR 9.2% 100 to 150 bps Consistent growth plus continued margin expansion to drive higher returns JACOBS ®#15Balance sheet strength post-ECR provides significant incremental value creation opportunities 15 $3.0 Reported Net Debt FY19 Q1 Pro Forma Net Cash FY19 Q11 $2.0 $1.0 $0.5 $0.0 -$1.0 -$2.0 $(1.8) -$3.0 $3B of pro forma Balance Sheet Capacity post ECR transaction 1Assumes Q1 FY19 cash includes WorleyParsons equity stake as of February 2019; cash benefits from ECR transaction proceeds offset by $250M cash outflow related to accelerated share repurchase (ASR). JACOBS ®#16Multiple paths to create value 16 Fiscal 2019 Guidance Potential 2021 Earnings Power -$8 -$7 Leverage >2.5x Leverage <2x $4.40 to $4.80 - Strong organic growth – combined with balance sheet capacity – drives significant EPS upside JACOBS ®#17Strong and consistent value creation algorithm 17 $7 to $8 Per Share of Potential Earnings Power by Fiscal 2021 Strong Organic Growth + Continued Margin Expansion + Government Services Urbanization Resilient Infrastructure Cyber Engineering Digital Solutions Inclusive & Innovative Culture Execution Excellence Cumulative Balance Sheet Capacity at Investment Grade Disciplined M&A Execution & Agile Capital Allocation JACOBS ®#18Appendix 18 JACOBS#19COTOS Aerospace, Technology & Nuclear Solving for Tomorrow JACOBS#20Delivery of 2016 strategy created a solid foundation for continued growth 2% 9% 13% 43% Sectors 17% 18% Civil Defense Intelligence International Commercial 11% Risk Profile 87% Cost Reimbursible Fixed Price Services Fixed Price EPCM / DB 8% 0 Revenue 92% Recurring ■Non-Recurring ATN 2018 Results • PF Revenue: $3.9B • Adj. OP: $265M1 • . Adj. OP Margin: 6.9% Backlog: $7.1B Countries: 6 NASA U.S. Department of Defense A Locations: 80+ U.K. Ministry of Defence Intelligence Community 20 20 1 Excludes GES JACOBS ®#21ATN has a foundation of large, multi-year highly technical contracts Agency Award Size Duration Contract Scope $4.6B 8.5 years to 2025 MISSILE DEFENSE DEPARTMENT AGENCY OF DEFENSE NASA UNITED PARTMENT TATES OMMAND OF ENERGY AMERICA 197 UNITED ST DSTATES $1.1B $1.9B $771M 8 years to 2025 9 years to 2022 6 years to 2023 $5B 10 years to 2027 $1.4B 10 years to 2027 Operating the Missile Defense Integrated Operations Center, supporting its network infrastructure, modeling and simulation, and development of systems ✓ ~75% of scope is related to IT services - Marshall Science and engineering solutions to support the space launch system, space station and other projects, 6x successful rebids Johnson - IT development and infrastructure support across multiple initiatives including Orion Capsule, life support systems and robotics 20-years supporting national security and SOF missions via intelligence analysis, operational mission planning, cybersecurity and insider threat solutions, weapon system acquisition and sustainment, IT Service Management, and technology insertion to support critical operations ✓ Recently awarded the SITEC II global enterprise IT solutions contract Nevada National Security Site management and operations contract Jacobs is a 38% minority partner on a Honeywell-led joint venture Paducah deactivation and remediation contract Jacobs (CH2M) is a 40% majority partner in the joint venture Focused on mission critical government priorities JACOBS ® 21#22Resilient business yielding good returns with low capital intensity • Risk balanced portfolio Cost Reimbursable: 87% • Fixed Price Services: 11% • Fixed Price EPCM / DB: 2% • Excellent write-off history Long term stability with strong pipeline for growth Foundation of recurring revenue work (~92%) with a core of long-cycle enterprise contracts (~75%) Government funding from mission critical, non-cyclical programs: 90% of our portfolio. j • Market Opportunities • Large, fragmented Government Services market • • Expanded government spending 22 22 Solid Cash Flow Dynamics Market leading DSO#23Steady Jacobs ATN organic OP growth despite major economic and defense spending swings Great Recession Sequestration Expansion 300 250 200 150 100 Jacobs ATN1 Defense Budget Delivering outstanding resiliency 50 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 23 1Indexed to 2008 US Defense Budgets JACOBS ®#24With strong markets, focused investment and value extraction from existing platforms drives growth 盥 TotalAnnual Addressable Market Market Industry 5yr CAGR Key Organic Growth Areas Government $340B 1%-2% 888 Services 99 International $80B 4%-6% 24 14 • • Next Gen capabilities of cyber, cloud and analytics Enterprise IT Intelligent Asset Mgmt. Engineering Services Nuclear defense support & remediation Cyber Engineering Nuclear Defense Support • Automotive Commercial $12.2B 3%-4% • Telecommunications Highly Fragmented Government Services Market <0.5% Contractors <0.5% 5% 1% 4% 2% 3% Contractors >0.5% %Share DoD Services Budget JACOBS ®#25Jacobs ATN differentiators will continue to enable market share gains Key Areas of Differentiation 25 • Customer Responsiveness Localized accountability structure with customized back office support at the client face strikingly - different from competitors . Provides agility and flexibility our competitors cannot match . . Performance Technically deep staff with proven track record of delivery Contractor Performance Assessment Reports average above 95% • . Innovation Recognized for innovation and tailored solutions • Leverage JCE innovation labs to explore and mature ideas into solutions . Efficiency Lean, highly competitive, 3rd party-benchmarked overhead structure First quartile in Aerospace & Defense / Industrials peer group JACOBS ®#26Driving scale in Cyber Engineering to enhance overall Jacobs growth Targeted Areas for Growth Deepen solutions for Government Services clients Enable differentiated growth across all Jacobs' markets Disciplines Exploit emerging opportunity in the convergence of information technology and operation technology 26 Security Engineering Security Operations Security Compliance Market Sectors Geographies Smart Cities Aerospace & Defense Industrial Controls Security 5 Information Technology North America Europe S#27# of Opportunities Strong pipeline with new opportunities in larger, longer contracts 75 99 65 55 45 35 25 15 5 Opportunities over $100M in Revenue || 7 6 5 3 2 1 Average Duration - Years • $30B+ Pipeline Intelligence Community • U.S. Army • U.K. Remediation • . • · • U.S. Navy NASA Dept. of Energy / Environmental Mgmt. Dept. of Energy / NNSA Commercial Aerospace and Automotive -5 FY18 27 27 FY19 FY20 Number of >$100M Rev Opportunities FY21 Average Duration (years) 0 JACOBS ®#28Foundation of recurring work supports operating profit growth New Bid 28 2018 2019 2020 2021 ■Backlog Long Cycle Rebid Long Cycle New Bid Short Cycle New Bid · Continued growth in Enterprise contracts and expansion of new shorter duration projects . Historical >50% new bid win rate • Estimated new win rate of 30% as we move into adjacent markets Rebid • Rebid cycle of recurring contracts · Historical rebid win rate > 94% • Improved margin profile on rebids JACOBS ®#29Attractive, achievable organic growth targets 29 29 Revenue Adj. Operating Profit Adj. Operating Profit Margin 1 Three year CAGR 2018 PF 2021 Targets $3.9B 2-3%1 $265M 8-10%1 6.9% +100 to 150 bps Strong profit growth while retaining excellent free cash flow dynamics JACOBS ®#30Buildings, Infrastructure & Advanced Facilities Keeping the world moving forward JACOBS#31Differentiated value to clients built on a high-margin and diversified portfolio Iconic Global Scale Projects + Revenue Synergies 10% 19% 8% 5% 17% 22% Sectors Risk Profile Delivery Type 27% 78% 22% 92% Reimbursable / Fixed Price Services ■Consulting/Engineering/Design ■Design Build/EPCM Water Transportation Buildings Advanced Facilities ■ Environment Design Build/EPCM Operations & Maintenance WaterFix Confidential Semiconductor Central Valley, CA Global Etihad Freight Rail United Arab Emirates 33% 46% Client Type 54% Geography 67% La Guardia New York City, NY Palace of Westminster London, UK Public ■ Private ■US ■International Balanced distribution of $7.7B Revenue¹ - Delivering the highest priority programs 31 12018 Pro Forma Gross Revenue Highways United Kingdom JACOBS ®#32BIAF is uniquely differentiated to capitalize on these trends Key Areas of Differentiation Performance Excellence Customer intimacy and accountability World class Project Management Optimized operating procedures Organization model capitalizes on Solutions. and Technology, global and local delivery • Innovation Early adopter of digital solutions Whole-company approach to integrating innovation across lines of business Focused investment in innovation hubs Solutions and Technology driven offering • Global Integrated Delivery Global design centers Global talent mobility and access to talent pools in high-tech locales World-class scale and differentiated solutions . • Infrastructure Leader End-to-end skillset in all end-markets Established, trusted client relationships Connected, cross-market solutions Recognized brand in key growth markets • 32 2 JACOBS ®#3333 33 Strategy focused on 3 facets of connectivity Market Connectivity Global Connectivity DRIVERLESS 14 #256789 74 MPH RIVERLESS LZ #157543 63 MPH DRIVERLESS 11 #652181 61 MPH Digital Connectivity Leveraging expertise from our end markets to provide end-to-end solutions to the world's most critical challenges Utilizing mature, global delivery platform to deliver innovative solutions, effective talent mobility, and competitive differentiation Building on strong foundation of innovation with investment in 5 Innovation Hubs to increase market share of digitally-enabled consulting market Market Convergence Integrated Delivery Innovation Enabled ® JACOBS#34Global connectivity optimizes global platform through integrated delivery Oregon . Drives innovative solutions • Utilizes best talent around the world . Enhances competitive differentiation Poland India Malaysia Philippines BIAF Presence Select Design Centers¹ Mature global delivery platform enables talent mobility - and serves as competitive differentiator 34 1Only Global Design Centers (GDC) are labeled JACOBS ®#35Shifting delivery model to digitally-enabled solutions 100% Portfolio Mix Extend life cycle Reduce of facility operating cost & infrastructure Less energy Enhance safety + Protection Common Client Challenges 0% 2019 2021 Digitally Enabled % Conventional % Jacobs' Domain Expertise and Delivery Experience 35 Applied Geospatial Science Data Privacy Automated Design Cybersecurity Internet of Things 鳳 Predictive Analytics ® JACOBS#36Attractive, achievable organic growth targets and margin expansion 36 Net Revenue Adj. Operating Profit 2018 PF3 2021 Targets³ $6.3B 4-6%1 $629M 10-12%1 Adj. Operating Profit Margin² 10% 1 Three year CAGR 2% of Net Revenue 3 Includes GES +110 to 140 bps JACOBS ®#37Financial Overview JACOBS#38Future portfolio offers solid Free Cash Flow conversion Adj. PF Net Income ex amort. of acquired intangibles of $556M ~90% conversion = 38 386 FY18 FCF Reported 36 610 63 125 Restructuring Deal Costs 500 (111) Discrete CH2M Pension Contribution FY18 Pro Forma Adj. FCF Estimated ECR FCF FY18 Pro Forma FCF Excl. ECR Continuing working capital improvement will support higher free cash flow conversion JACOBS ®#39Drivers for Revenue Growth 3% to 5% Organic Net Revenue Growth Total Strong Revenue Stability • 67% of revenue recurring . 70% of NTM revenue in backlog ATN • 92% recurring revenue • 87% NTM revenue in backlog BIAF . 39 50% recurring revenue 61% of NTM revenue in backlog · • . Robust Sales Pipeline within Current Markets Pipeline has increased ~15% y/y Focused sales approach with win rates >40% CH2M revenue synergy pipeline at $2B+ and growing Core Growth with Upside From Expanding Adjacent Markets . Infrastructure Secular Growth • Long-term Federal Contracts • Digital Solutions - Cyber Engineering - Intelligent Asset Management JACOBS ®#40Drivers for Operating Profit Margin Expansion 125 to 175 bps of adj. operating profit margin expansion • . . Global Service Model Drive increased utilization of global integrated delivery (GID) Further enhance global business services (GBS) Initiating priority based budgeting (PBB) $75 to $100M annual run-rate savings by 2021 . • • Gross Margin In Backlog to Drive Incremental Profitability Gross Margin % in backlog improved >200 bps over last 2 yrs Further enhancements driven by higher margin, digital solutions Shifting to commercial terms that provide margin enhancement 40 40 Strategic Investments That Drive Profitable Growth • Innovation hubs • System and technology enhancements . Investment in our people $30 to $60M annual run-rate investment by 2021 JACOBS ®#41Drivers for ROIC Improvement Organic Operating Income Growth 100 to 150 bps of ROIC Improvement Lower Working Capital Improving DSO execution across the business Opportunity to reduce higher . CH2M DSOS . Strong operating leverage from existing portfolio . . 44 41 Focusing on higher margin opportunities Low Fixed Capital Intensity • Overall fixed asset investments remain limited . Addition of CH2M results in minimal incremental CAPEX JACOBS ®#42Recast 2018 Pro Forma Segment Financials (Preliminary) Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Q1 2019 ATN Backlog 6,642 7,174 7,148 7,130 7,130 7,158 Revenue 842 924 1,021 1,069 3,856 1,035 Operating Profit 57 58 73 77 265 72 as a % of revenue 6.8% 6.2% 7.1% 7.2% 6.9% 7.0% BIAF Backlog 42 Revenue Net Revenue Operating Profit as a % of Net Revenue 12,269 12,088 12,693 12,825 12,825 13,177 1,904 1,947 1,912 1,923 7,686 2,049 1,456 1,653 1,578 1,605 6,292 1,525 125 159 178 167 629 160 8.6% 9.6% 11.2% 10.4% 10.0% 10.5% NOTES: Recast historical financials for the second, third and fourth quarters of fiscal 2018 reflect our current estimates based on information available as of the date of this presentation. The final figures may differ materially from these preliminary amounts due to the completion of our financial closing procedures, final adjustments and other developments that may arise between the date of this presentation and the time the recast quarterly results are finalized. JACOBS ®#43Recast 2018 Pro Forma Consolidated Financials (Preliminary) Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Q1 2019 Backlog 18,911 19,262 19,841 19,955 19,955 20,335 Revenue 2,746 2,871 2,933 2,992 11,542 3,084 Net Revenue 2,298 2,577 2,599 2,674 10,148 2,560 545 585 592 594 2,316 571 Gross Profit Adjusted G&A (416) (425) (366) (379) (1,586) (392) Adjusted Operating Profit From Continuing Operations as a % of Net Revenue¹ 129 160 226 215 730 179 5.6% 6.2% 8.7% 8.0% 7.2% 7.0% 43 1 Excludes amortization of acquired intangibles NOTES: Recast historical financials for the second, third and fourth quarters of fiscal 2018 reflect our current estimates based on information available as of the date of this presentation. The final figures may differ materially from these preliminary amounts due to the completion of our financial closing procedures, final adjustments and other developments that may arise between the date of this presentation and the time the recast quarterly results are finalized. JACOBS ®#44Non-GAAP Financial Measures 44 U.S. GAAP Reconciliation for the first quarter of fiscal 2019 Revenues Pass Through Revenue Net Revenues Three Months Ended 28-Dec-18 U.S. GAAP Effects of Restructuring and Other Charges Effects Transaction Costs S 3,083,788 S S S 3,083,788 Direct cost of contracts (2,515,268) 2,870 Gross profit Selling, general and administrative expenses 568,520 2,870 (455,390) 44,362 Other Adjustments (523,753) (523,753) Adjusted S 3,083,788 (523,753) 2,560,035 523,753 (1,988,645) 18,671 571,390 (392,357) Operating profit S 113,130 S 47,232 S 18,671 S 179,033 Operating profit margin 3.7% 7.0% JACOBS ®#45Non-US GAAP Financial Measures (cont'd) 445 45 U.S. GAAP Reconciliation for fiscal 2018 Year Ended 28-Sep-18 U.S. GAAP as reported Effects of Restructuring and Other Charges Effects Transaction Costs Revenues S 14,984,646 S S Pass Through Revenue Net Revenues 14,984,646 Direct cost of contracts (12,156,276) 6,950 Other Adjustments Adjusted S S 14,984,646 (1,394,467) (1,394,467) (1,394,467) 13,590,179 1,394,467 (10,754,859) Gross profit 2,828,370 6,950 2,835,320 Selling, general and (2,180,399) 163,198 80,436 80,731 (1,856,034) administrative expenses Operating profit 647,971 170,148 80,436 80,731 979,286 Total other (expense) (93.266) 20,658 1,774 (70,834) income, net Earnings before taxes 554,705 190,806 82,210 80,731 908,452 Income Tax (Expense) (381,563) (50,161) (21,488) 239,013 (214,199) Benefit Net earnings of the 173,142 140,645 60,722 319,744 694,253 Group Net earnings attributable to non-controlling (9,711) (577) (10.288) interests Net earnings attributable to Jacobs S 163,431 S 140,068 S 60,722 S 319,744 S 683,965 Operating profit margin 4.3% 7.2% JACOBS ®#46Non-GAAP Financial Measures (cont'd) Adjusted net income, adjusted operating profit and adjusted operating profit margin are non-GAAP financial measures that are calculated by (i) excluding the costs related to the 2015 restructuring activities, which included involuntary terminations, the abandonment of certain leased offices, combining operational organizations and the co-location of employees into other existing offices; and charges associated with our Europe, U.K. and Middle East region, which included write-offs on contract accounts receivable and charges for statutory redundancy and severance costs (collectively, the "2015 Restructuring and other items"); (ii) excluding costs and other charges associated with restructuring activities implemented in connection with the CH2M acquisition, which include involuntary terminations, costs associated with co-locating Jacobs and CH2M offices, costs and expenses of the Integration Management Office, including professional services and personnel costs, costs and charges associated with the divestiture of joint venture interests to resolve potential conflicts arising from the CH2M acquisition, expenses relating to certain commitments and contingencies relating to discontinued operations of the CH2M business, and similar costs and expenses (collectively referred to as the "CH2M Restructuring and other charges"); (iii) excluding transaction costs and other charges incurred in connection with closing of the CH2M acquisition, including advisor fees, change in control payments, costs and expenses relating to the registration and listing of Jacobs stock issued in connection with the acquisition, and similar transaction costs and expenses (collectively referred to as "CH2M transaction costs"); (iv) excluding charges resulting from the revaluation of certain deferred tax assets/liabilities in connection with U.S. tax reform; (v) reducing for depreciation relating to the ECR business of the Company that was ceased as a result of the application of held for sale accounting; (vi) excluding transaction costs and expenses incurred in connection with the pending sale of the ECR business of the Company; and (vii) adding back amortization of intangibles acquired. Adjusted EPS outlook for fiscal year 2019 is calculated by excluding (i) interest expense for the indebtedness of the Company to be repaid with the cash proceeds of the ECR divestiture, (ii) interest income associated with the cash proceeds to be used to repay such indebtedness, and (iii) stranded costs not otherwise included in discontinued operations that will be assumed by WorleyParsons in connection with the ECR divestiture or otherwise eliminated at the closing of the transaction, in addition to the adjustments noted above. Adjustments to derive adjusted net income and adjusted EPS are calculated on an after-tax basis. Adjusted EBITDA is calculated in accordance with the Company's existing credit facilities. Net revenue is calculated by excluding pass-through revenues of the BIAF line of business. We believe that these non-GAAP financial measures are useful to management, investors and other users of our financial information in evaluating the Company's operating results and outlook, and understanding the Company's operating trends by excluding or adding back the effects of the items described above, the inclusion or exclusion of which can obscure underlying trends. Additionally, management uses these 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. 46 JACOBS ®#47Glossary of Terms • A&D: Aerospace & Defense GID: Global Integrated Delivery • ASR: Accelerated Share Repurchase • ATN: Aerospace, Technology & Nuclear • I&D: Inclusion and Diversity • IAM: Intelligent Asset Management • BIAF: Buildings, Infrastructure & Advanced Facilities • CFIUS: Committee on Foreign Investment in the U.S. • IDIQ: Indefinite Delivery / Indefinite Quantity loT: Internet of Things • CM: Construction Management • IT/OT: Informational Technology / Operational Technology . DB: Design Build . JCE: Jacobs Connected Enterprise · DHS: Department of Homeland Security . LOB: Lines of Business • DoD: Department of Defense • NNSA: National Nuclear Security Administration • DOE: Department of Energy • NTM: Next 12 Months • E&C: Engineering & Construction • O&M: Operations & Maintenance • ECR: Energy, Chemicals & Resources • OHA: Organizational Health Assessment • ENR: Engineering News-Record • PBB: Priority Based Budgeting . • EPC: Engineering, Procurement & Construction EPCM: Engineering, Procurement & Construction Management . SOF: Special Operations Forces • TBL: Triple Bottom Line • TSR: Total Shareholder Return · GBS: Global Business Services • GES: Global Environmental Services 47 JACOBS ®