TPC - Five Star Electric Awarded Two Contracts Collectively Valued at Approximately $90 Million

Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its subsidiary, Five Star Electric (“Five Star”), has been awarded two new contracts collectively valued at approximately $90 million.

JFK International Airport Central Substation #2, New York, NY

Five Star, in a joint venture with Yonkers Contracting, was awarded a design-build contract by the Port Authority of New York and New Jersey for a new two-story substation building at JFK International Airport, which will provide power to the new JFK Terminal 1. The project scope of work for Five Star includes furnishing and installing 27kV switchgear, 15kV switchgear, medium-voltage cables, low-voltage power distribution equipment, security, lighting, fire alarm and other electrical systems. Work recently commenced and substantial completion is anticipated in the spring of 2024.

The contract value will be included in the Company’s third-quarter 2022 backlog.

Replacement of PATH Substation #2, Jersey City, NJ

Five Star, working as a subcontractor to Yonkers Contracting, was awarded the electrical component of a project to construct a new two-story substation building in Jersey City, NJ. Five Star’s scope of work entails furnishing and installing all electrical systems, including switchgear, supervisory control and data acquisition (SCADA) systems, traction power transformers, medium-voltage and traction power cables, low-voltage power distribution equipment, security, lighting and testing, as well as all raceways and feeders. In addition, traction power feeders will be installed from the new substation building to the existing PATH tunnels. Work will commence in the fourth quarter of 2022 and substantial completion is anticipated in the summer of 2026.

The contract value will be included in the Company’s fourth-quarter 2022 backlog.

About Tutor Perini Corporation

Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private clients and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict quality control measures.

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Tutor Perini Corporation
Jorge Casado, 818-362-8391
Vice President, Investor Relations and Corporate Communications
www.tutorperini.com