MasTec — May 1, 2025 release

Douglas Road, 12 th Floor Chris Mecray, Vice President - Investor Relations    Coral Gables, Florida 33134 305-507-7304    Tel: 305-599-1800 chris.mecray@mastec.com    www.mastec.com MasTec Reports First Quarter 2025 Results and Raises Financial Guidance for the Year First Quarter 2025 Highlights     •   Revenue of $2.8 billion increased 6%; strong 21% combined growth contribution from non-pipeline segments; 44% decrease from Pipeline Infrastructure due to large contract close-out last year     •   18-month backlog as of March 31, 2025 of $15.9 billion increased 24% year-over-year and 11% versus the prior quarter; significant first quarter additions in Pipeline Infrastructure     •   Diluted EPS of $0.13 and Adjusted Diluted EPS of $0.51, above expectations by $0.18 and $0.17, respectively     •   GAAP Net Income of $12.3 million and Adjusted EBITDA of $163.7 million, above expectations by $13.3 million and $3.7 million, respectively     •   Cash flow from operating activities of $78 million; Free cash flow of $45 million     •   Guidance raised for FY 2025; Adjusted Diluted EPS guidance increased ~9% from prior midpoint of guidance Coral Gables, FL, May  1, 2025 — MasTec, Inc. (NYSE: MTZ) today announced first quarter 2025 financial results and updated full year 2025 financial guidance. “We are pleased to report another strong quarter of financial performance, with key metrics showing strong year-over-year growth and also exceeding guidance,” said Jose Mas, MasTec’s Chief Executive Officer. “While mid-single digit growth in revenue and Adjusted EBITDA were both solid and EPS easily exceeded guidance, we are particularly encouraged by ongoing backlog development to record consolidated levels, including a more than doubling of backlog for the Pipeline Infrastructure segment since year-end.” Mr. Mas added, “As always, I also want to thank all of MasTec’s employees for their diligent efforts and dedication to delivering results for our customers every day.” “In addition to executing on growth during the first quarter, we generated another quarter of solid cash flow and ended the period with net debt leverage of 1.9x, steady versus the year end level,” said Paul DiMarco, MasTec’s Chief Financial Officer. “We also completed $37 million of share repurchases in the first quarter, with additional purchases in Apr