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

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Tutor Perini Comments on Media Reports Regarding Potential Acquisition Transaction

03/02/20

LOS ANGELES--(BUSINESS WIRE)-- In response to media reports, Tutor Perini Corporation (NYSE: TPC), a leading civil, building and specialty construction company, confirmed today that a Special Committee of its Board of Directors comprised of independent directors, on behalf of the Company, is engaged in discussions regarding a potential transaction for the acquisition of Tutor Perini. The Special Committee expects that Ronald N. Tutor, Chairman and Chief Executive Officer, would continue to retain his management leadership role with the Company and significant shareholdings in the Company following any potential transaction. No definitive agreement providing for a transaction has been reached, and there can be no assurances that any transaction will result from these discussions or as to the terms, timing or approval of any such transaction that may be proposed.

The Special Committee has retained Goldman Sachs & Co. LLC to serve as its financial advisor and Gibson, Dunn & Crutcher LLP and DLA Piper LLP (US) to serve as its legal counsel to assist in its consideration of a potential transaction.

The Company does not intend to make any additional comments regarding this matter unless and until a definitive agreement providing for a transaction has been reached or the Company determines that further disclosure is required by law or necessary.

About Tutor Perini Corporation

Tutor Perini Corporation is a leading civil, building and specialty 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.

Tutor Perini Corporation
Jorge Casado, 818-362-8391
Vice President, Investor Relations and Corporate Communications
www.tutorperini.com

Source: Tutor Perini Corporation

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Los Angeles (Headquarters) 15901 Olden Street Sylmar, CA 91342 (818) 362-8391 Contact