Jacobs Solutions Inc. · NYSE:J

Jacobs Solutions — Investor Presentation (March 2025)

47 slides from Jacobs Solutions's investor presentation, March 2025

1. Slide 1: Investor Presentation March 2025

   Investor Presentation March 2025

2. Slide 2: Forward-looking statement 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 Non-GAAP Financial Measures and Operating Metrics statements are stat

3. Slide 3: Creating a more connected, sustainable world

   Creating a more connected, Where we work sustainable world At Jacobs, we’re challenging 40 45K today to reinvent tomorrow — COUNTRIES PEOPLE delivering outcomes and ADVANCED CITIES & PLACES solutions for the world’s most MANUFACTURING complex challenges. With approximately $12 billion in annual reve

4. Slide 4: Our journey to higher value services and solutions

   Our journey to higher value services and solutions Government Services Jacobs FY16 FY24 FY29E $0.6B $1.1B ~$1.9B Adj. EBITDA¹ Adj. EBITDA¹ Adj. EBITDA² Energy, Chemicals and Resources FY16 Adj. EBITDA Margin¹ FY24 Adj. EBITDA Margin¹ FY29E Adj. EBITDA Margin² 7.7% 12.8% 16%+ FY16 FY19 FY21 FY24 FY29

5. Slide 5: Jacobs' structure

   Jacobs' structure Jacobs As Reported Infrastructure & Advanced Facilities (I&AF) PA Consulting Results End Market Revenue Performance Water and Life Sciences and Critical Infrastructure Environmental Advanced (Transportation, Cities & Places, Energy, and National Security Manufacturing Infrastructur

6. Slide 6: Jacobs today – simpler and more focused

   Jacobs today – simpler and more focused №1 ENR % of Gross Revenue FY24 №1 – Top 500 Design Firms PA Critical Consulting Infrastructure №1 – Top 50 Program Focused business model 10% 38% Management Firms Science-based innovation and №1 – Wastewater Treatment end-to-end solutions №1 – Data Centers Sca

7. Slide 7: Our portfolio is balanced and demonstrates long-term stability

   Our portfolio is balanced and demonstrates long-term stability Our adj. net revenue exposure by source is diverse And our U.S. positioning remains favorable Infrastructure & Advanced Facilities (I&AF) FY24* ■ Infrastructure Investment & Jobs Act (IIJA)* North America ■ FY22-24 Budget Authority of $3

8. Slide 8: End-to-end solutions grounded in science-based innovation is a key differentiator

   End-to-end solutions grounded in science-based innovation is a key differentiator of our model + Model Client-centric AND program-centric End-to-end solutions Business Advisory Enabling upstream shift Augmented design Planning and Concept Design Client AI enablement Engineering and Design Engage AI

9. Slide 9: Leveraging our global platform to drive cross-collaboration

   Leveraging our global platform to drive cross-collaboration Global Delivery & Global Delivery & Cross Collaboration Cross Collaboration 38% 52% FY24 FY29E Billable Hours Billable Hours Local Delivery Local Delivery 62% 48% Cross-collaboration examples at Jacobs + + + + + Data Center needs for water,

10. Slide 10: We are embedding digital and AI into our organizational fabric

    We are embedding digital and AI into our organizational fabric Leading end-to-end client solutions Jacobs is leading in Digital & AI → End-to-end capabilities driving margin improvement Jacobs AI → Significant digital consulting footprint (1.5K+ FTEs) AI RFP Response → Leading partnership in Water w

11. Slide 11: Our serviceable market is significant, underscoring tailwinds

    Our serviceable market is significant, underscoring tailwinds Water & Environmental Life Sciences & Critical Infrastructure Advanced Manufacturing Water Environmental Advanced Facilities Energy & Power Transportation Cities & Places Market $220B $120B $390B SAM* J CAGR Est 8-10% 4-6% 7-9% 11-13% 5-7

12. Slide 12: Strong positioning, macro tailwinds and focus on growth drive a robust financial outlook

    Strong positioning, macro tailwinds and focus on growth drive a robust financial outlook Infrastructure sector poised for Life Sciences & Advanced Manufacturing Accelerating collaboration, digital and generational investment secular growth global delivery ▪ Strong Water demand globally ▪ Largest in

13. Slide 13: Growing the Core

    Growing the Core ©Jacobs 2025

14. Slide 14: Water & Environmental

    Water & Environmental End-to-end solutions, digital innovation & cross-collaboration strengthen our Water & Environmental position Water Environmental World-leading expertise across the water cycle Positions Jacobs to drive sustainability across client base ▪ ENR №1 Sewer & Waste and №1 Wastewater T

15. Slide 15: Life Sciences & Advanced Manufacturing

    Life Sciences & Advanced Manufacturing 6,500+ 17% Current 3-Year CAGR Headcount Adj. Net Revenue Life Sciences Adv. Manufacturing & Electronics $1.4B $2.8B FY24 Adj. Net FY24 Gross ▪ 77+ years in Life Sciences ▪ ENR №1 in semis and Revenue Revenue data centers ▪ Expertise at the molecular level ▪ 40

16. Slide 16: Critical Infrastructure

    Critical Infrastructure Local client relationships backed by global delivery enabling us to deliver the highest quality, faster Energy & Power Transportation Cities & Places Unmatched major programs position A leader in complex program delivery Cross-cutting buildings capability ▪ ENR №2 in Power ▪

17. Slide 17: PA Consulting

    PA Consulting Integrating with PA to deliver value and unlock new market opportunities. Project Credo – Business Advisory Strategy & Economics Major Automotive Planning & Concept Defining future site operations Design People and Change Frederick Douglass Engineering and Design Tunnel Amtrak Deliveri

18. Slide 18: Financial Overview

    Financial Overview ©Jacobs 2025

19. Slide 19: Rising backlog and pipeline position us well to accelerate growth

    Rising backlog and pipeline position us well to accelerate growth Near-term Medium-term Long-term Gross Revenue in Backlog¹ Total Pipeline² Secular Growth Drivers ■ Life Sciences ■ Data Centers and Semis $22B +19% Y/Y $100B+ +37% Y/Y ■ Water ■ Energy & Power ■ Transportation Investment 19 ¹Backlog a

20. Slide 20: Adjusted net revenue growth setup strong over the multi-year horizon

    Adjusted net revenue growth setup strong over the multi-year horizon CAGRs¹ (FY25-FY29) $11.6B Water & Environmental +7% to 9% Life Sciences & Adv. Manufacturing +7% to 9% +6% to +8% CAGR Critical Infrastructure +5% to 7% PA Consulting +6% to 8% 20 ¹CAGRs reflect organic growth estimates by end mark

21. Slide 21: EBITDA margin expansion is further aided by operating leverage

    EBITDA margin expansion is further aided by operating leverage 16%+ Adjusted EBITDA Margin Total Adj. EBITDA on Cost track to rise to Leverage Mix ~$1.9B by FY29 Commercial 12.8% Models Global Delivery Targeting 320+ bps margin expansion between FY24 and FY29, at the midpoint FY24 FY29E 21 FY29E Adj

22. Slide 22: Low capital intensity and margin growth to drive higher free cash flow

    Low capital intensity and margin growth to drive higher free cash flow 10%+ ■ Operating outlook is favorable F ▪ Organic growth Y ▪ Margin expansion 2 5 ■ Working capital to improve - F ▪ DSOs/DPOs trending favorably Y ■ Capital intensity largely steady 2 8 ▪ Capex averaging ~1% of revenue ■ Restruc

23. Slide 23: Our track record of returning capital to shareholders is strong

    Our track record of returning capital to shareholders is strong 14% CAGR 11% CAGR/share¹ >60% return of free cash flow to shareholders over the past 4 years 23 ¹CAGR per share calculated by comparing $0.21/share dividend in FY21 to $0.29/share dividend in FY24 ©Jacobs 2025

24. Slide 24: Capital allocation focused on increasing returns to shareholders

    Capital allocation focused on increasing returns to shareholders Invest in Organic Growth Return Capital Strategic M&A ■ Reinvest in organic growth ■ >60% of FCF to be ■ Near-term organic focus ■ Current net leverage returned ■ Strategic M&A longer- ~1.1x ■ FCF margin target of 10% term to complemen

25. Slide 25: FY25-FY29E financial outlook

    FY25-FY29E financial outlook 5-Year CAGRs and Targets through FY29E Adj. Net Revenue (Organic) ▲ 6 – 8% CAGR Adj. EBITDA Margin* ▲ 50 – 80 bps/yr Adj. EBITDA ▲10 – 14% CAGR Free Cash Flow 10%+ FCF margin* by FY29 *Adj. EBITDA margin is calculated as a ratio of Adj. EBITDA to adj. net revenue and FCF

26. Slide 26: Fiscal 2025 Q1 Results

    Fiscal 2025 Q1 Results View quarterly results here ©Jacobs 2025

27. Slide 27: Q1 FY 2025 Results Summary

    Q1 FY 2025 Results Summary Q1 FY 2025 Results 1 ■ GAAP gross revenue of $2.9B (+4.4% y/y) and adjusted net revenue of $2.1B (+5.1% y/y) 1 ■ GAAP net loss of $17M ( -113.3% y/y) and adjusted net income of $166M (-9.6% y/y) 1 ■ Adjusted EBITDA of $282M (+23.6% y/y) 1 1 ■ Adjusted EBITDA margin of 13.5

28. Slide 28: Q1 FY 2025 I&AF end market performance

    Q1 FY 2025 Infrastructure and Advanced Facilities (I&AF) end market performance Life Sciences & Water & Environmental Advanced Manufacturing Critical Infrastructure I&AF End Market Exposure Strong performance in Strong Life Sciences growth Continued strength in the Gross Revenue Water, globally most

29. Slide 29: Appendix

    | b Challenging today. waco Ss Reinventing tomorrow.

30. Slide 30: 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

31. Slide 31: 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

32. Slide 32: Reconciliation of Operating Profit to Adjusted Earnings Per Share

    Reconciliation of Operating Profit to Adjusted Earnings Per Share (in thousands) Three Months Ended December 27, December 29, 2024 2023 Operating Profit $ 208,418 $ 142,000 Restructuring, Transaction and Other Charges 16,095 41,349 Other Adjustments 52,498 38,496 Adjusted Operating Profit 277,011 22

33. Slide 33: Reconciliation of Earnings Before Taxes to Adjusted Earnings Before Taxes

    Reconciliation of Earnings from Continuing Operations Before Taxes to Adjusted Earnings from Continuing Operations Before Taxes (in thousands) Three Months Ended December 27, December 29, 2024 2023 Earnings from Continuing Operations Before Taxes $ 53,147 $ 103,205 Restructuring, Transaction and Oth

34. Slide 34: 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 27, December 29, 2024 2023 Net (Loss) Earnings Attributable to Jacobs from Continuing Operations $ (1

35. Slide 35: 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 December 27, December 29, 2024 2023 Diluted Net (Loss) Earnings from Continuing Operations Per Share $ (0.10) $ 1.03 Aft

36. Slide 36: 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 December 27, 2024 December 29, 2023 Net (Loss) Earnings Attributable to Jacobs from Continuing Operations $ (17,129) $ 128,346 After-tax effects of Restructuring, Tra

37. Slide 37: Reconciliation of Noncontrolling Interests to Adjusted Noncontrolling Interests

    Reconciliation of Noncontrolling Interests from Continuing Operations to Adjusted Noncontrolling Interests from Continuing Operations (in thousands) Three Months Ended December 27, December 29, 2024 2023 Noncontrolling Interests from Continuing Operations $ (13,127) $ (6,469) Restructuring, Transact

38. Slide 38: 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 27, December 29, 2024 2023 Miscellaneous Expense from Continuing Operations $ (130,107) $ (2,964) Restructuring, Transaction and

39. Slide 39: 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 27, 2024 December 29, 2023 Income Tax (Expense) Benefit from Continuing Operations $ (57,149) $ 31,610 Tax Effects of Restructuring, Tr

40. Slide 40: Reconciliation of GAAP Revenue to Adjusted Net Revenue

    Reconciliation of GAAP Revenue to Reconciliation of I&AF by End Adjusted Net Revenue (in Market GAAP Revenue to thousands) Adjusted Net Revenue (in thousands) Three Months Ended Three Months Ended December December December December 27, 2024 29, 2023 27, 2024 29, 2023 Critical Infrastructure Revenue

41. Slide 41: Reconciliation of Net Earnings to Adjusted EBITDA

    Reconciliation of Net Earnings Attributable to Jacobs from Continuing Operations to Adjusted EBITDA (in thousands) 41 ©Jacobs 2025

42. Slide 42: Reconciliation of Income Tax and Interest Expense to Adjusted

    Reconciliation of Income Tax Reconciliation of Interest Expense Expense from Continuing from Continuing Operations to Operations to Adjusted Income Adjusted Interest Expense from Tax Expense from Continuing Continuing Operations (in Operations (in thousands) thousands) (1) Includes charges primarily

43. Slide 43: Reconciliation of Net Earnings to Adjusted EBITDA (historical)

    Reconciliation of Net Earnings Attributable to Jacobs from Continuing Operations to Adjusted EBITDA (in thousands) Historical data as reported in respective 10K earnings materials. 43 ©Jacobs 2025

44. Slide 44: Reconciliation of Income Tax Expense and GAAP Revenue (historical)

    Reconciliation of Income Tax Reconciliation of GAAP Revenue to Expense from Continuing Adjusted Net Revenue (in Operations to Adjusted Income thousands) Tax Expense from Continuing Operations (in thousands) Historical data as reported in respective 10K earnings materials. Historical data as reported

45. Slide 45: Reconciliation of GAAP Revenue to Adjusted Net Revenue (historical)

    Reconciliation of GAAP Revenue Reconciliation of Life Sciences & to Adjusted Net Revenue (in Advanced Manufacturing (LS&AM) thousands) GAAP Revenue to Adjusted Net Revenue (in thousands Historical data as reported in respective 10K earnings materials. 45 ©Jacobs 2025

46. Slide 46: Reconciliation of Free Cash Flow from Continuing Operations

    Reconciliation of Free Cash Flow from Continuing Operations (in thousands) 46 ©Jacobs 2025

47. Slide 47: Explore more about our culture, capabilities, markets and financial strength

    Explore more about our culture, capabilities, markets and financial strength: ■ Integrated Annual Report ■ Investor information at invest.jacobs.com ■ Podcast series ■ Recent press releases jacobs.com | Follow us @Jacobsconnects: ©2025 Jacobs Solutions Inc. All rights reserved. This presentation is

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