AECOM — Nov 18, 2025 release

· Other assumptions incorporated into guidance: ‒ An average fully diluted share count of 133 million, which does not include any potential future benefits from capital allocation actions not yet taken, including potential repurchases.   ‒ G&A of approximately $155 million.   ‒ Depreciation of approximately $160 million. ‒ An adjusted effective tax rate of approximately 22 - 23% for the full year. ‒ Adjusted net interest expense of approximately $140 million. · See the Regulation G Information tables at the end of this release for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures.   Raised Long-Term Financial Targets   As separately announced as part of its 2025 Investor Day, AECOM increased its long-term financial targets, highlighted by its expectation to deliver a 20%+ margin exit rate by fiscal 2028 and to grow adjusted EPS at a 15%+ CAGR from fiscal 2026 to fiscal 2029. In addition, the Company expects to deliver from fiscal 2026 to 2029 a 5 – 8% organic NSR CAGR, to convert at least 100% of adjusted net income to free cash flow cumulatively and continue to increase the per share value of its dividend by a double-digit percentage annually over the same period.   Business Segments   Americas   Revenue in the fourth quarter was $3.2 billion, a 2% increase from the prior year. Full year revenue of $12.5 billion was effectively unchanged over the prior year.   Net service revenue 2 in the fourth quarter was $1.2 billion, a 13% increase from the prior year. Full year