Slide 1: Jacobs Fiscal 2025 Fourth Quarter & Full Year Results
Jacobs Fiscal 2025 Fourth Quarter & Full Year Results November 20, 2025
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 Q4 and Fiscal 2025 results Q4 FY 2025 end market and segment review Balance sheet and cash flow review Outlook & Summary Q&A 3 ©Jacobs 2025 2024
Slide 4: Q4 and FY 2025 Results Summary
Q4 and FY 2025 Results Summary Q4 FY 2025 Results FY 2025 Results ▪ GAAP gross revenue of $3.2B (+6.6% y/y) and ▪ GAAP gross revenue of $12.0B (+4.6% y/y) and adjusted net revenue1 of $2.2B (+5.8% y/y) adjusted net revenue1 of $8.7B (+5.3% y/y) ▪ GAAP net earnings of $138M ((55.4)% y/y) and ▪ GAAP n
Slide 5: Significant I&AF Awards Announced in Q4 FY 2025
Significant Infrastructure and Advanced Facilities (I&AF) Awards Announced in Q4 FY 2025 Water & Environmental Life Sciences & Adv. Manufacturing Critical Infrastructure Critical Infrastructure United Utilities Confidential Client Crown Commercial Services MTA's Interborough Express Aqua DNA SaaS Se
Slide 6: Q4 FY 2025 Results
Q4 FY 2025 Results1 Adj. Net Revenue1 Adj. EBITDA1 Adj. EPS1 Backlog1 $23.1B $2.24B $1.75 $21.8B $2.12B $324M $289M $1.37 Q4 2024 Q4 2025 Q4 2024 Q4 2025 Q4 2024 Q4 2025 Q4 2024 Q4 2025 +5.8% y/y +12.0% y/y +27.7% y/y +5.6% y/y 1 See Use of Non-GAAP financial measures and operating metrics at the en
Slide 7: FY 2025 Results
FY 2025 Results1 Adj. Net Revenue1 Adj. EBITDA1 Adj. EPS1 Backlog1 $23.1B $8.7B $21.8B $8.3B $1,207M $XX $6.12 $1,059M $5.28 $XX 2024 2025 2024 2025 2024 2025 2024 2025 +5.3% y/y +13.9% y/y +15.9% y/y +5.6% y/y 1 See Use of Non-GAAP financial measures and operating metrics at the end of this present
Slide 8: Q4 FY 2025 I&AF End Market Performance
Q4 FY 2025 I&AF End Market Performance Life Sciences & Critical Infrastructure Advanced Manufacturing Water & Environmental I&AF End Market Exposure Key project ramps in Data Centers and Life Sciences Continued growth in Water Gross Revenue Transportation and strong remained strong during Q4, more-t
Slide 9: Segment Financials
Segment Financials $’s in millions for fiscal quarters Q4 2024 Q4 2025 Y/Y Y/Y CC* Infrastructure and Advanced Facilities Adj. Operating Profit 219 254 16.1% 15.6% as a % of adj. net revenue 12.0% 13.2% 125 bps 130 bps PA Consulting Operating Profit 62 72 16.6% 13.1% as a % of revenue 21.3% 22.6% 12
Slide 10: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Strong cash flow generation in FY25 Net leverage below low-end of 1.0-1.5x target FY25 cash flow from operations (CFFO) Net leverage ratio3 $687M 1.3x 1.1x 1.0x FY25 free cash flow (FCF¹) $607M 0.8x Greater than 100% of FCF returned in FY25 Q1’25 Q2’25 Q3’25 Q4’25 Repurch
Slide 11: FY 2026 Outlook
FY 2026 Outlook Fiscal Year 2026 Assumptions Adjusted Net Revenue % Growth 6% to 10% y/y FULLY DILUTED AVERAGE SHARE COUNT: ~119M NET INTEREST EXPENSE: $90-100M Adjusted EBITDA Margin 14.4% to 14.7% DEPRECIATION: $89-95M Adjusted EPS $6.90 to $7.30 FY ADJUSTED EFFECTIVE TAX RATE: 25-27% CAPITAL EXPE
Slide 12: Appendix
_ Appendix
Slide 13: Debt and Interest Overview
Debt and Interest Overview Debt Breakdown Fixed vs. Floating Debt Trend As of September 26, 2025 Tranche Balance Q4'25 Rate Q3'25 Rate USD Revolver $395M 5.4% 5.5% GBP Term Loans $550M 5.0% 5.2% $35.8 $35.5 $36.1 Deferred Financing Cost -$9M — — $29.1 $28.8 $27.0 $25.2 $27.0 Total Floating $936M 5.1
Slide 14: Selected Financial Data
Selected Financial Data Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY $’s in millions (unaudited) 2024 2024 2024 2024 2024 2025 2025 2025 2025 2025 Infrastructure and Advanced Facilities Backlog 18,031 18,130 19,489 21,472 21,472 21,484 21,768 22,270 22,649 22,649 Gross Revenue 2,504 2,553 2,595 2,671 10,323 2,626
Slide 15: 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 Twelve Months Three Months Ended Ended Three Months Ended Ended December 29, March 29, June 28, September 27, September 27, December 27, March 28, June 27, September 26, September 26, 2023 202
Slide 16: 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 17: 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 18: 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, separation and other charges” because we do not consider these to be indicative of ongoing operating performance. Actions taken by the Company to enhance efficiencies are subject
Slide 19: Reconciliation of Earnings 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 For the Years Ended September 26, September 27, September 26, September 27, 2025 2024 2025 2024 Earnings from Conti
Slide 20: Reconciliation of Operating Profit to Adjusted Operating Profit
Reconciliation of Operating Profit to Adjusted Operating Profit (in thousands) Twelve Months Twelve Months Three Months Ended Ended Three Months Ended Ended December 29, March 29, June 28, September 27, September 27, December 27, March 28, June 27, September 26, September 26, 2023 2024 2024 2024 202
Slide 21: Reconciliation of Operating Profit to Adjusted Earnings Per Share
Reconciliation of Operating Profit to Adjusted Earnings Per Share (in thousands) Three Months Ended Twelve Months Ended September 26, September 27, September 26, September 27, 2025 2024 2025 2024 Operating Profit $ 211,554 $ 196,205 $ 863,634 $ 692,436 Restructuring, Transaction and Other Charges 15
Slide 22: 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 For the Years Ended September 26, September 27, September 26, September 27, 2025 2024 2025 2024 Net Earnings A
Slide 23: Reconciliation of Diluted EPS to Adjusted Diluted EPS
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 For the Years Ended September 26, September 27, September 26, September 27, 2025 2024 2025 2024 Diluted Net Earnings fro
Slide 24: Reconciliation of Net Earnings to Adjusted EBITDA
Reconciliation of Net Earnings Attributable to Jacobs from Continuing Operations to Adjusted EBITDA (in thousands) Three Months Ended For the Year Ended September 26, September 27, September 26, September 27, 2025 2024 2025 2024 Net Earnings Attributable to Jacobs from Continuing Operations $ 138,03
Slide 25: 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 December 27, September 26, 2024 March 28, 2025 June 27, 2025 2025 Net Earnings Attributable to Jacobs from Continuing Operations $ 467,330 $ 386,257 $ 484,56
Slide 26: Reconciliation of Noncontrolling Interests Earnings to Adjusted
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 Twelve Months Ended September 26, September 27, September 26, September 27, 2025 2
Slide 27: 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 For the Years Ended September 26, September 27, September 26, September 27, 2025 2024 2025 2024 Miscellaneous Income (Expense) from Contin
Slide 28: Reconciliation of Interest Expense to Adjusted Interest Expense
Reconciliation of Interest Expense from Continuing Operations to Adjusted Interest Expense from Continuing Operations (in thousands) Three Months Ended For the Years Ended September 26, September 27, September 26, September 27, 2025 2024 2025 2024 Interest Expense from Continuing Operations $ (35,33
Slide 29: 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 For the Years Ended September 26, 2025 September 27, 2024 September 26, 2025 September 27, 2024 Income Tax Expense for Continuing Operations $ (
Slide 30: Reconciliation of Free Cash Flow
Reconciliation of Free Cash Flow (in thousands) Three Months Ended For the Years Ended September 26, September 27, September 26, September 27, 2025 2024 2025 2024 Net cash provided by operating activities 383,085 196,532 686,704 1,054,673 Additions to property and equipment (29,577) (38,342) (79,232
Slide 31: 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 September 26, September 27, 2025 2024 Critical Infrastructure Revenue $ 1,198,133 $ 1,131,364 Pass Through Revenue (209,214) (225,455) Adjusted Net Revenue $ 988,919 $ 905,909 Water and Enviro
Slide 32: 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 Q4 FY 2025 Adj. Net Revenue 2,242 1,924 318 Currency Impact (23) (12) (12) Adj. Net Revenue in Constant Currency 2,219 1
Slide 33: 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 Q4 FY 2025 Adj. Operating Profit 326 254 72 Currency Impact (3) (1) (2) Adj. Operating Profit in Constant Currency 323
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