Hudson Yards - Multiple Projects - New York, NY - Total $2.3 Billion

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Tutor Perini Awarded Caruso Affiliated Contract to Build Rosewood Miramar Beach Montecito

09/29/16

LOS ANGELES--(BUSINESS WIRE)-- Tutor Perini Corporation (NYSE: TPC), a leading civil and building construction company, announced today that it has been awarded a contract by Caruso Affiliated for the construction of a new oceanfront resort, Rosewood Miramar Beach Montecito, in Santa Barbara County, California.

The project scope of work includes construction of an ultra-luxury resort comprised of multiple one- and two-story buildings, a main building with an oceanfront restaurant and bar with an outdoor terrace, a signature restaurant, a Sense® spa, two swimming pools, a state-of-the-art fitness center, and indoor and outdoor event space, including a 6,000-square-foot ballroom. The property, which is being developed on the site of the original iconic Miramar Hotel, will feature 161 ultra-luxury guestrooms, including one-story cottages and bungalows and two-story lanais. In addition, there will be an exclusive membership-only beach club.

Construction is underway, and the property’s grand opening is expected in the summer of 2018. The contract value, which was not disclosed, will be included in the Company’s reported third quarter backlog.

About Tutor Perini Corporation

Tutor Perini Corporation is a leading civil and building construction company offering diversified general contracting and design-build services to private clients and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large complex projects on time and within budget while adhering to strict quality control measures.

Source: Tutor Perini Corporation

Tutor Perini Corporation

Jorge Casado, 818-362-8391

Vice President, Investor Relations and Corporate Communications

www.tutorperini.com

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