MasTec — Jul 31, 2025 release

For the Year Ended December 31, 2024 For the Year Ended December 31, 2023 Net income (loss) $ 388 - 408 $ 199.4  $ (47.3) Adjustments: Non-cash stock-based compensation expense 35 32.7  33.3  Amortization of intangible assets 131 139.9  169.2  Loss on extinguishment of debt — 11.3  —  Changes in fair value of acquisition-related contingent items (2) 10.7  (13.9) Acquisition and integration costs — —  71.9  Losses on fair value of investment — —  0.2  Total adjustments, pre-tax $ 164 $ 194.6  $ 260.8  Income tax effect of adjustments (a) (37) (44.8) (74.0) Statutory and other tax rate effects (b) — (0.9) 4.6  Adjusted net income $ 515 - 535 $ 348.3  $ 144.1  Net income attributable to non-controlling interests 26 - 30 36.6  2.7  Adjusted net income attributable to MasTec, Inc. $ 489 - 505 $ 311.7  $ 141.4  Adjusted Diluted Earnings per Share Reconciliation Guidance for the Year Ended December 31, 2025 Est. For the Year Ended December 31, 2024 For the Year Ended December 31, 2023 Diluted earnings (loss) per share $ 4.61 - 4.82 $ 2.06  $ (0.64) Adjustments: Non-cash stock-based compensation expense 0.44 0.41  0.43  Amortization of intangible assets 1.67 1.77  2.16  Loss on extinguishment of debt — 0.14  —  Changes in fair value of acquisition-related contingent items (0.02) 0.14  (0.18) Acquisition and integration costs — —  0.92  Losses on fair value of investment — —  0.00  Total adjustments, pre-tax $ 2.09 $ 2.47  $ 3.33  Income tax effect of adjustments (a) (0.47) (0.57) (0.94) Statutory and other tax rate effects (b) — (0.01) 0.06  Adjusted diluted earnings per share $ 6.23 - 6.44 $ 3.95  $ 1.81  (a) Represents the tax effects of the adjusted items that are subject to tax, including the tax effects of non-cash stock-based compensation expense, including from share-based payment awards. Tax effects are determined