Slide 1: Second Quarter 2026 Results Conference Call
SECOND QUARTER 2026 RESULTS CONFERENCE CALL August 5, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation, and oral comments that Everus may make, contain or incorporate by reference certain “forward-looking statements” within the meaning of the securities laws. All statements that reflect Everus’ expectations, assumptions or projections about the future, oth
Slide 3: Our Mission and Values
OUR MISSION Safely Building America’s FutureⓇ as an industry-leading construction services provider while achieving sustained growth. OUR VALUES INTEGRITY RESPECT SAFETY TEAMWORK 3
Slide 4: Second Quarter 2026 Highlights – Strong Momentum
Second Quarter 2026 Highlights – Strong Momentum Solid Revenue Growth Strong EBITDA Growth Revenue growth of 34% (+30% organic) Total EBITDA increased 53% from prior driven by continued momentum in E&M year, driven by strong revenue growth, (+42%), particularly data center submarket, continued effic
Slide 5: Second Quarter 2026 Highlights – End-Market Strength
Second Quarter 2026 Highlights – End-Market Strength E&M Momentum Free Cash Flow E&M revenues increased 42% (+37% Free cash flow during the first six months of 2026 organic) driven by continued momentum was $167.0 million, compared to $6.5 million last year, in data center, high tech, and hospitalit
Slide 6: Epsilon Industries – Premier Off-Site Construction Provider
Epsilon Industries – Premier Off-Site Construction Provider Compelling Transaction Rationale Meaningfully enhances Everus' off-site construction offerings Company Overview Epsilon Industries is a premier off-site designer and manufacturer of Adds an extensive footprint of modular prefabrication comp
Slide 7: Employees, Value, Execution, Relationships
Employees Value Execution Relationships Attract, retain Create long-term Lead the industry Maintain and grow and train value with sustained in safety and consistent customer premier talent profitable growth high-quality execution relationships 7
Slide 8: Value Creation Framework
Value Creation Framework Targeted Commercial Growth Operational Excellence Disciplined Capital Allocation Grow share within existing end Strategically deploy assets in Invest in high-return organic markets higher-margin projects and growth initiatives end markets Further penetrate Pursue strategic a
Slide 9: Long-Term Expectations
Employees Value Execution Relationships LONG-TERM EXPECTATIONS 5% – 7% 7% – 9% Organic Revenue CAGR EBITDA CAGR 2.0% – 2.5% 1.5x – 2.0x CapEx as % of Revenue Net Leverage 9
Slide 10: Second Quarter 2026 Results
SECOND QUARTER 2026 RESULTS 10
Slide 11: Second Quarter 2026 Performance Summary
Second Quarter 2026 Performance Summary Performance Second Quarter Revenues Second Quarter EBITDA ($MM) highlighted by strong ($MM) $1,231.6 $128.6 E&M growth, continued backlog $921.5 $84.2 momentum, project + 33.7% + 52.7% execution • 34% second quarter revenue growth (+30% organic) driven 2Q2 5 2
Slide 12: Second Quarter 2026 Segment Summary
Second Quarter 2026 Segment Summary E&M Revenues T&D Revenues E&M Highlights ($MM) ($MM) • Second quarter revenues $227.5 $1,010.3 increased 42% (+37% organic) $212.4 due to strength in the commercial $713.6 and industrial markets, and + 41.6% contribution from SE&M + 7.1% • Second quarter EBITDA in
Slide 13: Second Quarter 2026 Balance Sheet and Liquidity
Second Quarter 2026 Balance Sheet and Liquidity Ample financial Net Debt Net Leverage ($MM) flexibility to pursue $228 strategic objectives $159 • 2Q26 net debt of $120 million $132 $120 0.8x was up from 1Q26, as strong operating results were offset by the funding of the SE&M acquisition $6 2Q2 5 3Q
Slide 14: 2026 Financial Guidance
2026 Financial Guidance 2026 Drivers 2026 Guidance Guidance reflects strong backlog trends, continued business momentum, and SE&M Revenues $4.5B – $4.7B Strong demand for E&M driven by (up from $4.3B - $4.4B) data center, high tech and hospitality; T&D driven by grid modernization and hardening EBIT
Slide 15: Compelling Investment Thesis
Compelling Investment Thesis Benefit From Multiple Proven Leadership Team Scaled National Platform Skilled Workforce, Diversified Revenue Base Growth Drivers and Executing 4EVER of Market-Leading Local People-First Culture & & Disciplined Capital Industry Megatrends Strategy Brands Repeatable Playbo
Slide 16: Appendix
APPENDIX 16
Slide 17: Non-GAAP Financial Guidance
Non-GAAP Financial Guidance Everus has completed its preliminary purchase price allocation for the SE&M acquisition, but these amounts are dependent upon, among other things, finalizing the fair values of acquired tangible and intangible assets, which are inherently uncertain and subject to material
Slide 18: Reconciliations of Organic Revenues and Organic Revenue Growth
Reconciliations of Organic Revenues and Organic Revenue Growth Reconciliations of organic revenues and organic revenue growth. Three months ended June 30, Six months ended June 30, 2026 2025 Change 2026 2025 Change Consolidated: (In millions, except percentages) Total operating revenues $ 1,231.6 $
Slide 19: Reconciliations of net income to EBITDA and EBITDA margin
Reconciliations of net income to EBITDA and EBITDA margin Reconciliations of net income to EBITDA and EBITDA margin. Three months ended June 30, Six months ended June 30, 2026 2025 Change 2026 2025 Change (In millions, except percentages) Net income $ 83.9 $ 52.8 58.9% $ 142.2 $ 89.5 58.9% Interest
Slide 20: Reconciliations of net income to EBITDA by segment
Reconciliations of net income to EBITDA by segment Reconciliations of net income to EBITDA by segment. Three months ended June 30, 2026 Six months ended June 30, 2026 Corporate and Corporate and E&M T&D Other Total E&M T&D Other Total (In millions) Net income $ 80.6 $ 19.1 $ (15.8) $ 83.9 $ 137.3 $
Slide 21: Reconciliations of EBITDA and EBITDA margin by segment
Reconciliations of EBITDA and EBITDA margin by segment Reconciliations of net income to EBITDA and EBITDA margin by segment. Three months ended June 30, Six months ended June 30, 2026 2025 % change 2026 2025 % change Operating revenues: E&M $ 1,010.3 $ 713.6 41.6% $ 1,845.4 $ 1,361.8 35.5% T&D 227.5
Slide 22: Reconciliations of trailing 12-month EBITDA and net leverage
Reconciliations of trailing 12-month EBITDA and net leverage Reconciliations of trailing 12-month EBITDA as of June 30, 2026 and Dec. 31, 2025. Twelve months Six months Twelve months Six months ended June 30, ended June 30, ended December ended June 30, 2026 2026 31, 2025 2025 (In millions) Net inco
Slide 23: Reconciliations of free cash flow
Reconciliations of free cash flow Reconciliations of cash provided by operating activities to free cash flow Six months ended June 30, 2026 2025 (In millions) Net cash used in investing activities $ (180.1) $ (25.7) Net cash used in financing activities $ (10.5) $ (8.1) Net cash provided by operatin
Slide 24: investors@everus.com
Contact: investors@everus.com 24