Investor Presentaiton

CASH FLOW IS COUNTER CYCLICAL Change in Revenue vs Free Cash Flow (1)/Adjusted EBITDA (1) % Revenue Chg. 35% 30% 25% 20% 15% 10% 5% 0% -5% -10% -15% For the Years Ending December 31, 2014 2015 2016 2017 2018 2019* 2020 Pro Forma 90% 80% 70% Midpoint(2) 60% Guidance 2021 Midpoint(³)50% Guidance 40% Midpoint(3) 30% 2022** 2023E FCF/Adjusted EBITDA 20% 10% 0% Quanta's cash flow generation is typically counter to revenue growth, primarily due to working capital demands and to a lesser extent, capex investment This dynamic typically allows us to lean into opportunistic strategic capital deployment, such as stock repurchases, strategic acquisitions and dividends, that can counter the effects of moderating growth As base business activity continues to grow and represent a majority of total revenues, we expect our free cash flow to increase and mitigate a portion of increased working capital demands when larger projects ramp up Under a mid-single digit revenue growth rate scenario, we would expect FCF/Adjusted EBITDA conversion of 40%-50% and FCF/Adjusted Net Income (1) conversion of 80%-90% Revenue % Chg. FCF/Adjusted EBITDA *Includes adverse impact of $112 million to FCF and $79.2 million to adjusted EBITDA associated with our Peruvian subsidiary's terminated telecommunications project **Includes favorable impact of $101 million to FCF from receipt of payment to coverage under an insurance policy following a legal proceeding associated with the project referenced above QUANTA (1) Refer to the appendix for a reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure (2) Pro forma midpoint based on comparison of Quanta's actual 2022 revenues to pro forma calculation of revenues for the twelve months ended December 31, 2021, which includes contribution from Blattner for the full year of 2021. (3) Guidance midpoint based on comparison of midpoint of Quanta's 2023E financial outlook provided on November 2, 2023 to actual revenues of $17,074 million for the twelve months ended December 31, 2022. Page 41

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