Company: MTZ
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013277
Chunk: 5

Company: MASTEC INC
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 5
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     | Lead Independent Director, Chair C,D,E,B,A |
| Ava L. Parker      |     |  62 |     |     2022 |     | President of Palm Beach State College |     | Yes         |     | B                                          |

Committee memberships/positions key: A Executive Committee B Nominating, Sustainability and Corporate Governance Committee C Finance and M&A Committee D Audit Committee E Compensation Committee

| 8 |

TABLE OF CONTENTS

BUSINESS HIGHLIGHTS Our outstanding financial performance included:

| • | Record revenue of $12.3 billion; |

| • | Diluted earnings per share (“EPS”) was $2.06 as compared to a loss of $0.64 for 2023; |

| • | Record cash flow from operations was up 63% year over year to $1.1 billion; |

| • | Net income was $199.4 million with adjusted EBITDA1up 19% year over year to $1.0 billion; |

| • | Backlog was a record $14.3 billion, up almost $2.0 billion year over year; and |

| • | Year End Stock Price. The market price of our common stock was $136.14 per share on December 31, 2024, a three-year cumulative total shareholder return (“TSR”) of 47.5%.2On March 14, 2025, the market price of our common stock was $120.49. |

Our balance sheet was also strengthened significantly as a result of improved operational performance combined with prudent cash management:

| • | Days sales outstanding, net of contract liabilities (“DSO”) was 60, compared with 74 last year; |

| • | Liquidity3also improved to $2.2 billion, up approximately $601 million from a year ago. |

Additionally 2024 featured the following accomplishments:

| • | Our Pipeline Infrastructure (formerly Oil and Gas) segment completed the Mountain Valley Pipeline (MVP), the largest contract in MasTec’s history; |

| • | Our Power Delivery segment was awarded and began construction on the Greenlink Transmission and Substation project. This 700-mile project has a contract value greater than $1 billion and is expected to be executed over approximately 4 years; |

| • | Our Clean Energy and Infrastructure (“CE&I”) segment showed steady improvement, with Q4 EBITDA margins setting a new record for the segment. Our CE&I segment was also successful securing new