MasTec — Oct 30, 2025 release

Thanks to all of you!" "MasTec reported impressive revenue growth across all operating segments for the third quarter and we continue to target double-digit growth in both revenue and Adjusted EBITDA for the full year. For the full year 2025, our guidance assumes strong 14% growth in revenue and 13% growth in Adjusted EBITDA versus the prior year, and implied growth of 9% for revenue and nearly 20% growth in Adjusted EBITDA for the fourth quarter. This guidance is inclusive of anticipated permit-driven impacts on our Greenlink project within Power Delivery, thus underscoring MasTec’s overall robust growth performance, driven by ongoing strong operating execution and solid leverage realized on the broad-based market opportunities we have seen this year and expect to continue," said Paul DiMarco, MasTec's Chief Financial Officer. "In addition to strong operating execution, our strong balance sheet offers ample flexibility to pursue a disciplined, returns focused capital allocation strategy to enhance shareholder value.” Third Quarter 2025 Results Dollars in millions, except per share amounts 3Q'25 3Q'24 Change Revenue $ 3,967  $ 3,252  22.0  % GAAP net income $ 166  $ 105  58.0  % Adjusted net income $ 201  $ 143  40.8  % Adjusted EBITDA $ 373  $ 311  20.3  % Adjusted EBITDA margin 9.4  % 9.5  % -13 bps GAAP diluted earnings per share $ 2.04  $ 1.21  68.6  % Adjusted diluted earnings per share $ 2.48  $ 1.68  47.6  % Cash provided by operating activities $ 89  $ 278  (68.0) % Free cash flow $ 36  $ 252  (85.7) % 18-month backlog $ 16,780  $ 13,858  2