Slide 1: First Quarter Fiscal 2026
First Quarter Fiscal 2026 SCOTTISH WATER ENTERPRISE ALLIANCE Scotland, United Kingdom AECOM was selected as a preferred bidder for the multi-billion-dollar investment program to enhance Scotland’s water and wastewater infrastructure.
Slide 2: Disclosures
Disclosures Forward-Looking Statements All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitabili
Slide 3: Today's Participants
Today’s Participants Troy Rudd Gaurav Kapoor Lara Poloni Chairman and Chief Executive Chief Financial & Operations President Officer Officer Page 3
Slide 4: AECOM at a Glance
AECOM at a Glance #1 Ranked the top design firm by 51K We are the trusted global ENR, including #1 rankings in Of the industry’s best technical experts infrastructure leader. each of our end markets Across the globe, we partner with our clients in the public and private sectors to solve their most c
Slide 5: First Quarter Key Accomplishments
First Quarter Key Accomplishments • Raised our full year earnings guidance due to first quarter outperformance and the benefits of our capital 1 Raised Full Year Earnings Guidance • allocation policy; guidance further is underpinned by a record backlog and pipeline As a result, now expect adjusted1
Slide 6: Delivering a Record Backlog by Capitalizing on Our Advantages
Delivering a Record Backlog by Capitalizing on Our Advantages Our Competitive Differentiators Are Providing Deciding Advantages on Key Pursuits: $26.0 Scottish Water Enterprise Alliance AMP9 Water Infrastructure $24.8 Framework $23.9 +23% $23.2 (+9% YoY) • Selected for the multi-billion-dollar progr
Slide 7: Our Transformation into a Premier Professional Services Provider
Our Transformation into a Premier Professional Services Provider 2020 – 2023 2023 - 2025 2026 – 2029 Exited low-return businesses, simplified Delivered consistent outperformance, achieved Continuing to invest to scale our key the organization, and strengthened the industry-leading margins ahead of p
Slide 8: AI: Leveraging Our Advantages to Extend Value and Lead Our Industry
AI: Leveraging Our Advantages to Extend Value and Lead Our Industry • Technological advancements historically expand the pie of infrastructure investment • AI represents the next major opportunity - the more value we can deliver for clients, the more valuable we become • Our clients have insatiable
Slide 9: We Have Consistently Expanded Our Efficiency and Productivity
We Have Consistently Expanded Our Efficiency and Productivity +48% $1,203 Since 2020 • We have a history of efficiency/productivity $1,095 gains as evidenced by our consistent $964 increases in both revenue and profit per $886 employee $830 +30% $746 Since 2020 • Since 2020 our revenue per employee
Slide 10: Cash Flow and Capital Allocation Update
Cash Flow and Capital Allocation Update • Generated $42 million in free cash flow8 in the first quarter Net Leverage9 • Continue to benefit from low net leverage, no near-term debt maturities 1.0x and an attractive cost of capital 0.8x – Maintain certainty on the cost of our debt, with more than 70%
Slide 11: Maximizing Shareholder Value through Returns-Based Capital Allocation
Maximizing Shareholder Value through Returns-Based Capital Allocation After our organic investments through our margins, Delivering on our commitment to double-digit annual we have returned 100% of our free cash flow8 to increases in the per share value of our dividend shareholders through capital a
Slide 12: Increased FY'26 Financial Guidance
Increased FY’26 Financial Guidance • We are raising our earnings guidance, reflecting the FY’26 Guidance YoY Change operational outperformance we delivered in the first quarter, benefits of our capital allocation strategy, a lower than Net Service expected tax rate, as well as the strong visibility
Slide 13: We Are Well Positioned to Create Substantial Value
We Are Well Positioned to Create Substantial Value Our Competitive Advantages Driving Our Growth: (Growth rates reflect mid-point of FY’26 guidance as starting point, where FY’26 – FY’29 Targets appropriate) Deep domain expertise on how infrastructure is delivered Organic NSR3 Growth CAGR +5 – 8% Un
Slide 14: Performance Update
A=COM tae Performance Update
Slide 15: Q1'26 Financial Performance by Segment
Q1’26 Financial Performance by Segment Americas Segment International Segment • Delivering Growth: NSR3 was materially unchanged • Delivering Growth: NSR3 increased 9% in Q1 adjusted for compared to the prior year adjusted for fewer working fewer working days. days. • Expanding Margins: Adj.1 operat
Slide 16: Historical Backlog and Book-to-Burn Performance
Historical Backlog and Book-to-Burn Performance Enterprise Book-to- 1.0x 1.0x 1.2x 1.0x 1.1x 1.1x 1.1x 1.0x 1.1x 1.5x Burn5 1.2x Enterprise TTM 1.1x 1.1x 1.1x 1.1x 1.1x 1.1x 1.1x 1.1x Book-to-Burn5 $26.0 $24.3 $24.6 $24.8 $23.2 $23.3 $23.8 $23.4 $23.9 $23.9 $18.0 $17.4 $17.4 $17.5 $17.8 $18.0 $18.0
Slide 17: A Higher Performing Business
A Higher Performing Business LEADING PROFITABILITY SUBSTANTIAL VS. PEERS VALUATION GAP 16.7% 16.5% 16.3% 16.1% 15.8% 15.9% 15.5x Peer Avg7 15.4% (TTM): 15.1% 15.0% 15.1% 11.1x Q1'24 TTM Q2'24 TTM Q3'24 TTM FY'24 Q1'25 TTM Q2'25 TTM Q3'25 TTM FY'25 Q1'26 TTM ACM Peers EV / Adj.1 EBITDA2 (FY’26E) as o
Slide 18: Margin Reconciliation Bridge
Margin Reconciliation Bridge (in millions) Q1’26 Net Service Revenue (NSR) $1,850.9 Segment AOI $303.0 Adjusted EBITDA $286.8 NCI net of NCI Interest Income $17.7 Adj. EBITDA Incl. NCI $304.5 Segment AOI Margin 16.4% Adj. EBITDA Incl. NCI / NSR Margin 16.4% Page 18
Slide 19: Appendix
A=COM tae Appendix
Slide 20: As a Professional Services Business, AECOM Is Poised to Thrive
As a Professional Services Business, AECOM Is Poised to Thrive Attractive Exposure Balanced Geographic Diverse Deep Technical Lower-Risk to Key End Markets Exposure Funding Sources Expertise Business Model Engineers 9% 7% U.S. Non-U.S. 8% 24% Water 20% Program 16% Europe, 29% 32% Governments Cost-Pl
Slide 21: Footnotes
Footnotes 1 Excludes the impact of certain items, such as restructuring costs, amortization of intangible assets, non-core AECOM Capital and other items. See Regulation G Information for a reconciliation of non-GAAP measures to the comparable GAAP measures. 2 Net income before interest expense, tax
Slide 22: Regulation G Information
Regulation G Information (in millions, except per share data) Page 22
Slide 23: Regulation G Information
Regulation G Information (in millions) Page 23
Slide 24: A=COM 2
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