Slide 1: Jacobs Fiscal 2026 First Quarter Results
Jacobs Fiscal 2026 First Quarter Results February 3, 2026
Slide 2: Forward-Looking Statement Disclaimer
DISCLAIMER Forward-Looking Statement Disclaimer Certain statements contained in this presentation constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to a
Slide 3: Today's Agenda
Today’s Agenda Overview Performance overview Recent notable project wins Financial review Q1 FY 2026 results Q1 FY 2026 end market and segment review Balance sheet and cash flow review Outlook & Summary Q&A 3 ©Jacobs 2026 2024
Slide 4: Q1 FY 2026 Results Summary
Q1 FY 2026 Results Summary Q1 FY 2026 Results ▪ GAAP gross revenue of $3.3B (+12.3% y/y) and adjusted net revenue1 of $2.3B (+8.2% y/y) ▪ GAAP net income of $125M (vs. net loss in Q1 2025) and adjusted net income1 of $182M (+9.7% y/y) ▪ Adjusted EBITDA1 of $303M (+7.3% y/y) ▪ Adjusted EBITDA margin1
Slide 5: Significant I&AF Awards Announced in Q1 FY 2026
Significant Infrastructure and Advanced Facilities (I&AF) Awards Announced in Q1 FY 2026 Water & Environmental Life Sciences & Adv. Manufacturing Critical Infrastructure Critical Infrastructure Bolivar Roads Storm Surge Gate Hut 8 AI Data Center UK Health Security Agency Trust Cleveland Hopkins Inte
Slide 6: Q1 FY 2026 Results
Q1 FY 2026 Results1 Adj. Net Revenue1 Adj. EBITDA1 Adj. EPS1 Backlog1 $2.25B $26.3B $2.08B $303M $1.53 $282M $21.8B $1.33 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 +8.2% y/y +7.3% y/y +15.0% y/y +20.6% y/y 1 See Use of Non-GAAP financial measures and operating metrics at the en
Slide 7: Q1 FY 2026 I&AF End Market Performance
Q1 FY 2026 I&AF End Market Performance Life Sciences & Advanced Manufacturing Critical Infrastructure Water & Environmental I&AF End Market Exposure Higher growth on the back of Good performance across Strong growth in Water, Gross Revenue project ramps in Data Centers the end market led by partiall
Slide 8: Segment Financials
Segment Financials $’s in millions for fiscal quarters Q1 2025 Q1 2026 Y/Y Y/Y CC Infrastructure and Advanced Facilities Operating Profit 210 215 2.1% 0.6% as a % of adj. net revenue 11.8% 11.3% -53 bps -55 bps PA Consulting Operating Profit 67 85 27.2% 22.2% as a % of revenue 21.8% 24.0% 220 bps 21
Slide 9: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Very strong Q1 cash flow generation Net leverage below low-end of 1.0-1.5x target Q1 FY 2026 cash flow from operations (CFFO) Net leverage ratio3 $381M 1.3x 1.0x Q1 FY 2026 free cash flow (FCF¹) $365M 0.8x 0.8x Accelerated share repurchases, raising dividend Q2’25 Q3’25 Q
Slide 10: Raising FY 2026 Outlook
Raising FY 2026 Outlook Fiscal Year 2026 Assumptions Adjusted Net Revenue % Growth 6.5% to 10.0% y/y FULLY DILUTED AVERAGE SHARE COUNT: ~118M NET INTEREST EXPENSE: Adjusted EBITDA Margin 14.4% to 14.7% $95-105M DEPRECIATION: $89-95M Adjusted EPS $6.95 to $7.30 FY ADJUSTED EFFECTIVE TAX RATE: 25.5-27
Slide 11: Appendix
_ Appendix
Slide 12: Debt and Interest Overview
Debt and Interest Overview Debt Breakdown Fixed vs. Floating Debt Trend As of December 26, 2025 Tranche Balance Q1'26 Avg. Rate Q4'25 Avg. Rate USD Revolver $640M 5.2% 5.4% GBP Term Loans $554M 5.0% 5.0% $35.5 $36.1 Deferred Financing Cost -$8M — — $29.1 $28.8 $27.0 $25.2 $27.0 $26.6 Total Floating
Slide 13: Selected Financial Data
Selected Financial Data Q1 Q2 Q3 Q4 FY Q1 $’s in millions (unaudited) 2025 2025 2025 2025 2025 2026 Infrastructure and Advanced Facilities Backlog 21,484 21,768 22,270 22,649 22,649 25,902 Gross Revenue 2,626 2,603 2,699 2,836 10,764 2,939 Pass Through Revenue (850) (771) (800) (912) (3,335) (1,041)
Slide 14: Reconciliation of Segment Operating Profit to Total U.S. GAAP Operating Profit
Reconciliation of Segment Operating Profit to Total U.S. GAAP Operating Profit (in thousands) Twelve Months Three Months Three Months Ended Ended Ended December 27, March 28, September 26, September 26, December 26, 2024 2025 June 27, 2025 2025 2025 2025 Segment Operating Profit: Infrastructure & Ad
Slide 15: Sustainability and Corporate Responsibility at Jacobs
Sustainability and Corporate Responsibility at Jacobs Jacobs is focused on creating sustainable shareholder value by delivering science-based, digitally enabled infrastructure solutions for the world's most complex challenges. Our reputation has established us as a trusted partner for delivering out
Slide 16: Use of Non-GAAP financial measures and operating metrics
Use of Non-GAAP financial measures and operating metrics In this presentation, the Company has included certain non-GAAP financial measures as defined in Regulation G promulgated under the Securities Exchange Act of 1934, as amended. These non-GAAP measures are described below. As a result of the sp
Slide 17: Use of Non-GAAP financial measures and operating metrics (cont.)
Use of Non-GAAP financial measures and operating metrics (cont.) We eliminate the impact of “Restructuring, Integration, Transaction and Other Charges” and "Other Adjustments" because we do not consider these to be indicative of ongoing operating performance. Actions taken by the Company to enhance
Slide 18: Reconciliation of Earnings from Continuing Operations Before Taxes to Adjusted Earnings
Reconciliation of Earnings from Continuing Operations Before Taxes to Adjusted Earnings from Continuing Operations Attributable to Jacobs Before Taxes (in thousands) Three Months Ended December 26, 2025 December 27, 2024 Earnings from Continuing Operations Before Taxes $ 206,223 $ 53,147 Restructuri
Slide 19: Reconciliation of Operating Profit to Adjusted Operating Profit
Reconciliation of Operating Profit to Adjusted Operating Profit (in thousands) Three Months Ended Twelve Months Ended Three Months Ended December 27, March 28, September 26, 2024 2025 June 27, 2025 2025 September 26, 2025 December 26, 2025 Operating Profit $ 208,418 $ 208,648 $ 235,014 $ 211,554 $ 8
Slide 20: Reconciliation of Operating Profit to Adjusted Earnings Per Share
Reconciliation of Operating Profit to Adjusted Earnings Per Share (in thousands) Three Months Ended December 26, 2025 December 27, 2024 Operating Profit $ 232,561 $ 208,418 Restructuring, Integration, Transaction and Other Charges 6,384 16,095 Other Adjustments 60,688 52,498 Jacobs Adjusted Operatin
Slide 21: Reconciliation of Net Earnings to Adjusted Net Earnings
Reconciliation of Net Earnings Attributable to Jacobs from Continuing Operations to Adjusted Net Earnings Attributable to Jacobs from Continuing Operations (in thousands) Three Months Ended December 26, 2025 December 27, 2024 Net Earnings (Loss) Attributable to Jacobs from Continuing Operations $ 12
Slide 22: Reconciliation of Diluted Net Earnings Per Share to Adjusted Diluted Net Earnings Per Share
Reconciliation of Diluted Net Earnings from Continuing Operations Per Share to Adjusted Diluted Net Earnings from Continuing Operations Per Share (in thousands) Three Months Ended December 26, 2025 December 27, 2024 Diluted Net Earnings (Loss) from Continuing Operations Per Share $ 1.11 $ (0.10) Aft
Slide 23: Reconciliation of Net Earnings to Adjusted EBITDA
Reconciliation of Net Earnings Attributable to Jacobs from Continuing Operations to Adjusted EBITDA (in thousands) Twelve Months Three Months Ended Ended December 26, December 27, December 26, 2025 2024 2025 Net Earnings (Loss) Attributable to Jacobs from Continuing Operations $ 124,954 $ (17,129) $
Slide 24: Reconciliation of LTM Net Earnings to LTM Adjusted EBITDA
Reconciliation of LTM Net Earnings Attributable to Jacobs from Continuing Operations to LTM Adjusted EBITDA (in thousands) Twelve Months Ended March 28, 2025 June 27, 2025 September 26, 2025 December 26, 2025 Net Earnings Attributable to Jacobs from Continuing Operations $ 386,257 $ 484,565 $ 313,30
Slide 25: Reconciliation of Earnings Attributable to Noncontrolling Interests
Reconciliation of Earnings Attributable to Noncontrolling Interests from Continuing Operations to Adjusted Earnings Attributable to Noncontrolling Interests from Continuing Operations (in thousands) Three Months Ended December 26, 2025 December 27, 2024 Earnings Attributable to Noncontrolling Intere
Slide 26: Reconciliation of Miscellaneous Expense to Adjusted Miscellaneous Expense
Reconciliation of Miscellaneous Expense from Continuing Operations to Adjusted Miscellaneous Expense from Continuing Operations (in thousands) Three Months Ended December 26, 2025 December 27, 2024 Miscellaneous Income (Expense) from Continuing Operations $ 287 $ (130,107) Other Adjustments (1): Tra
Slide 27: Reconciliation of Income Tax Expense to Adjusted Income Tax Expense
Reconciliation of Income Tax Expense from Continuing Operations to Adjusted Income Tax Expense from Continuing Operations (in thousands) Three Months Ended December 26, 2025 December 27, 2024 Income Tax Expense from Continuing Operations $ (73,109) $ (57,149) Tax Effects of Restructuring, Integratio
Slide 28: Reconciliation of Free Cash Flow
Reconciliation of Free Cash Flow (in thousands) Three Months Ended December 26, 2025 December 27, 2024 Net cash provided by operating activities 380,760 107,456 Additions to property and equipment (15,821) (10,333) Free cash flow $ 364,939 $ 97,123 Net cash used for investing activities $ (15,487) $
Slide 29: Reconciliation of I&AF by End Market GAAP Revenue to Adjusted Net Revenue
Reconciliation of I&AF by End Market GAAP Revenue to Adjusted Net Revenue (in thousands) Three Months Ended December 26, 2025 December 27, 2024 Critical Infrastructure Revenue $ 1,162,003 $ 1,090,657 Pass Through Revenue (213,920) (211,468) Adjusted Net Revenue $ 948,084 $ 879,189 Water and Environm
Slide 30: Reconciliation of Jacobs Constant Currency Adjusted Net Revenue
Reconciliation of Jacobs Constant Currency Adjusted Net Revenue $’s in millions Net Revenue impact of Constant Currency Jacobs Infrastructure and Advanced PA Consulting Facilities Q1 FY 26 Adj. Net Revenue 2,253 1,898 354 Currency Impact (32) (19) (13) Adj. Net Revenue in Constant Currency 2,221 1,8
Slide 31: Reconciliation of Jacobs Constant Currency Adjusted Operating Profit
Reconciliation of Jacobs Constant Currency Adjusted Operating Profit $’s in millions Adj. OP impact of Constant Currency Jacobs Infrastructure and Advanced PA Consulting Facilities Q1 FY 26 Adj. Operating Profit 300 215 85 Currency Impact (7) (3) (3) Adj. Operating Profit in Constant Currency 293 21
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