Combination Creates a Government Services Prime
Transaction 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
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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
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Preserves tax efficiency of a spin for Jacobs' shareholders
3
✓ 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
Jacobs 2023View entire presentation