EMCOR : Corporate Overview (EME Corporate Overview Presentation April 2026 FINAL)

EMCOR GROUP, INC. April 29, 2026

Corporate Overview

April 29, 2026

1

Track record of disciplined execution has resulted in strong operating cash flow generation and a liquid

6 balance sheet that supports a balanced capital allocation strategy and makes us a valued business partner on large, complex, and sophisticated projects

KEY TAKEAWAYS

1

EMCOR installs, services, operates, maintains, and protects complex and dynamic systems and critical infrastructure for facilities in multiple growth sectors of the economy

2

Expertise in managing skilled trade labor performing complex installations and service across mechanical, electrical, air conditioning, heating, fire protection, lighting, security, and power generation systems

3

Operates at the intersection of long-term megatrends, including data centers and connectivity; reshoring and nearshoring; efficiency and sustainability; as well as energy transition and expansion

4

Resilient and flexible business model with demonstrated ability to pivot to diverse and attractive end markets with strong demand and long-term secular trends including data centers, semiconductors, biotech, life sciences and pharmaceutical, manufacturing and industrial, and healthcare

5

Mission First, People Always commitment drives our ability to attract, invest in, and retain talent, while prioritizing the health and safety of our workforce

EMCOR AT A GLANCE

Key Highlights

$16.99B

2025 Revenue

» A Fortune 500® company, and a member of the S&P 500, EMCOR Group, Inc. (NYSE: EME) is a leader in mechanical and electrical construction, industrial and energy infrastructure, and building services

$15.62B

RPOs1

» Service offerings specialize in the planning, installation, operation, maintenance, and protection of complex, sophisticated and dynamic systems and critical infrastructure in facilities, including:

Mechanical

Air Conditioning

Electrical

~47,7001

Employees

Lighting

Heating

Fire Protection

Security

>80%

Operating Cash Flow Conversion2,3

Power Generation

~100M

Hours Worked2

» EMCOR companies serve a diverse range of non-residential sectors across many parts of the economy

» Benefitting from multiple trends across data centers and connectivity; reshoring and nearshoring; efficiency and sustainability; and energy transition and expansion

1. As of 3/31/26

4 2. For the twelve-month period ended 12/31/25

3. Operating cash flow conversion defined as operating cash flow / operating income; excludes gain on sale of United Kingdom operations

Mechanical

Construction Services

Electrical

BROAD CONSTRUCTION AND SERVICES PLATFORM

Mechanical and electrical contractors with decades of experience in multiple U.S. sectors

Selected Areas of Expertise

~72%

Industrial Services

of 2025 Revenue

HVAC High / Low Voltage

Fire Protection

Lighting and Control Systems

Plumbing

Provider of mechanical services and construction, site-based facility management and maintenance, and energy efficiency services

~21%

of 2025 Revenue

Services Services

and Efficiency

Projects

HVAC

Retrofit Energy Conservation IAQ

Building Control Systems

Selected Areas of Expertise

Site-Based

Mechanical Services

Building Services

Provider of process turnaround and other industrial services in North America

Selected Areas of Expertise

~7%

of 2025 Revenue

Heat Exchanger Services / Fabrication

Renewable Energy and Solar

Turnaround Services

Specialty Welding

ENERGY EFFICIENCY AND SUSTAINABILITY TRENDS

Justin Sant: Portland VA Hospital Retrofit

» Strong demand in HVAC and lighting retrofit, building automation and control services that improve building efficiency, energy consumption, and indoor air quality (IAQ)

» Variety of sectors include traditional and high-tech manufacturing, institutional, healthcare, and commercial

» EMCOR's Mechanical Services division, within its Building Services segment, offers project and retrofit design and installation, as well as repair and maintenance services

U.S. Building Services

Mechanical Services

~4,000 Vehicles on Road Daily

~350 LEED Certified Professionals

~450 Controls Technicians

~2,500 HVAC Technicians

5%

18%

$3.1B1

77%

Mechanical Services

Commercial Site-Based Services Government Site-Based Services

($ Millions) (Unaudited)

Diverse Remaining Performance Obligations (RPOs) by Sector

EMCOR'S DIVERSE BUSINESS MIX

Broad Construction and Services Platform

2025 Revenue By Segment

$17,000

7%

3%

30%

18%

42%

$16.99B

$16,000

$15,000

$14,000

$13,000

$12,000

$11,000

$10,000

$9,000

$8,000

$7,000

$6,000

$5,000

$4,000

$3,000

$2,000

$1,000

$0

$15,621

$13,254

$11,750

3/31/25 12/31/25 3/31/26

Electrical Construction Mechanical Construction Building Services Industrial Services

UK Building Services*

Commercial

Network and Communications High-Tech Manufacturing

Healthcare Institutional

Manufacturing and Industrial Water and Wastewater



Transportation

Hospitality and Entertainment Short Duration Projects

PARTICIPATING IN DIVERSE AND RESILIENT SECTORS

Diverse Remaining Performance Obligations (RPOs)

$4.0B

$15.6B

3%

3%

9%

7%

11%

9%

6%

40%

10%

+24% CAGR

2%

Commercial

Healthcare

Institutional

Manufacturing and Industrial

Water and Wastewater

Transportation

Hospitality and Entertainment

Expanded Disclosure Since 2023

Commercial

Network and Communications

High-Tech Manufacturing

Warehouses, office, retail, and restaurants

Data centers, data and fiber projects, network cabling, and telecommunications

Semiconductor manufacturing, biotech, life sciences, pharmaceutical, and EV and battery facilities

Short Duration Projects

✓ ✓ ✓ ✓

12/31/19 3/31/26

Demonstrated ability to pivot business and workforce to enhance exposure to resilient and growing sectors

Expanded sector disclosure, breaking out Network and Communications and

High-Tech Manufacturing from Commercial

Limited exposure to new office construction projects

Record RPOs, along with a strong and diverse pipeline, provide solid near-term line of sight

LOCAL EXECUTION, NATIONAL REACH

Strategic Locations in Key Geographies

~450

U.S. Locations

~100

Operating Subsidiaries

Corporate Headquarters Construction Services Building Services

Building Services

Industrial Services

Construction Services

Select Subsidiaries

Industrial Services

Resilience and Track Record

The resilience and flexibility of our business over many years has allowed us to pivot to high-growth sectors and continuously serve our customers with complex installations and excellent solutions

Strong Balance Sheet

We believe our strong financial results and balance sheet position EMCOR as a trusted employer-of-choice and preferred partner for our customers

Investments in Virtual Design and Construction (VDC) and prefabrication capabilities create efficiencies and differentiate EMCOR during the bidding and execution processes

Technology Differentiation

Focus on our people and talent are foundational to our success.

Our "Mission First, People Always" mindset guides our focus on attracting and retaining top talent

WHY EMCOR WINS

People and Talent

LEADER IN VIRTUAL DESIGN CONSTRUCTION & PREFABRICATION

Virtual Design and Construction (VDC)

Prefabrication

» One of the most valuable digital tools available to specialty contractors today

» EMCOR companies across the country use VDC technologies, including Building Information Modeling (BIM), to design, build, and coordinate complex electrical and mechanical projects of all types

» By using VDC and BIM, EMCOR companies utilize prefabrication in their construction processes, offering customized electrical, sheet metal, fire sprinkler, and piping fabrication

» Many of our companies maintain state-of-the-art shops across the country, totaling hundreds of thousands of square feet of fabrication and warehouse space

MISSION FIRST, PEOPLE ALWAYS CULTURE GUIDES OUR STRATEGY AND OPERATIONS

Our People

» Foundational focus on our workforce and culture that values integrity, discipline, transparency, mutual respect and trust, commitment to safety, and teamwork

» Striving for a zero-injury environment and culture across our operating subsidiaries

» Industry leading TRIR - less than half the industry average for the 17th consecutive year

» Our commitment to safety and investment in talent make EMCOR an employer-of-choice

TOTAL HOURS WORKED

TOTAL RECORDABLE INCIDENT RATE (TRIR)

~100m

~62m

2.4

» We are committed to strong sustainability practices and strive to be transparent on these initiatives, in-line with our shareholders' expectations

» Our sustainability reporting is guided by the Sustainability Accounting Standards Board (SASB) standard for the Engineering and Construction Services industry

» Incorporated guidance from the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) to disclose scope 1, 2 and 3 greenhouse gas emissions and set forward-looking reduction goals for scope 1 and 2

Sustainability

30 - 40%

Per capita reduction in carbon-based fuel consumption across service fleet

20%

Reduction in per capita Scope 1 and 2 GhG emissions

2035 ENERGY AND EMISSIONS GOALS

<1.0

2015 2025

2025 Industry Average

Business Reinvestment

» Expand prefabrication capacity

» Investments in VDC technologies, including BIM, automation, and robotics

» Augment business with complementary service offerings, bolster capabilities, service additional geographies

» Ongoing evaluation of diverse pipeline, both tuckin and targets of scale

Shareholder Return

» Track record of proven return of capital to shareholders

» ~$593 million remaining on share repurchase authorization*

» Steady, progressive dividend policy

» In December 2025, increased quarterly dividend by 60% to $0.40 per share commencing in Q1 2026

Capital Allocation Strategy

Dividends

Share Repurchases

M&A

Capex

COMMITMENT TO BALANCED CAPITAL ALLOCATION

Capital Allocation by Year (% of total capital allocated)

42.2%

11.8%

2017 2018 2019 2020 2021 2022 2023 2024 2025 YTD

2026

2017 -YTD 2026

38.7%

3.3%

31.3% 5.9%

24.7%

28.8% 27.3%

22.0%

20.6%

33.2%

10.0%

4.8%

13.6%

57.9%

7.5%

46.5%

36.7%

6.4%

2.5%

Shareholder Return

10.0%

Business Reinvestment

4.9%

13.2%

38.1%

49.3% 51.7%

49.1% ~50%

61.7%

58.5%

79.0%

9.7%

7.7%

~50%

81.9%

7.4%

23.4%

5.3%

21.0%

9.6%

5.2%

9.0%

16.2%

12.4%

100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%

Acquisitions Capex Dividends Share Repurchases



Strong balance sheet and long-term cash flow generation support strategic and balanced approach to capital deployment

2026 SUMMARY

» Record Remaining Performance Obligations of $15.62 billion coupled with diverse pipeline and operational capabilities provides us with visibility and momentum supporting our outlook for the remainder of 2026

» Customer investments in AI infrastructure and digital transformation are driving unprecedented activity within the Network and Communications market sector

» Other large, attractive end markets, including Water & Wastewater; Institutional; Healthcare; Manufacturing & Industrial; and High-Tech Manufacturing continue to have strong demand

» Robust demand for fire life safety projects and aftermarket services across most sectors with resumption in warehousing, distribution, and logistics projects

» HVAC retrofit projects, building controls installations and upgrades, and energy efficiency / Indoor Air Quality (IAQ) services continue to create aftermarket opportunities

» Macro uncertainties persist, including trade policy impacts (such as tariffs), supply chain disruption, rising commodity prices, elevated interest rates, legislative trends, energy and tax policy, and global conflicts; however, our teams have consistently demonstrated the ability to navigate complexity and deliver results

» We continue to execute with discipline, share knowledge across our organization, and leverage our workforce training and development programs, Virtual Design and Construction capabilities, prefabrication facilities, and advanced project planning methodologies

» Our disciplined approach to capital allocation, focused on organic investment, strategic acquisitions, and returning capital to shareholders has provided the foundation for our compounding record of success

KEY FINANCIAL DATA - INCOME STATEMENT

($ Thousands, except per share information) (Unaudited)

For the Quarter Ended

March 31, Variance

	2026	2025	$	%
Revenues	$ 4,628,233	$ 3,867,372	$ 760,861	19.7%
Gross Profit	863,950	722,718	141,232	19.5%
	18.7%	18.7%
Selling, General & Administrative Expenses	460,105	403,962	56,143	13.9%
	9.9%	10.4%
Operating Income	$ 403,845	$ 318,756	$ 85,089	26.7%
	8.7%	8.2%
Diluted Earnings per Common Share	$ 6.84	$ 5.26	$ 1.58	30.0%

Non-GAAP Operating Income1	$ 403,845	$ 328,109	$ 75,736	23.1%
	8.7%	8.5%
Non-GAAP Diluted Earnings per Common Share1	$ 6.84	$ 5.41	$ 1.43	26.4%

KEY FINANCIAL DATA - BALANCE SHEET & CASH FLOW

($ Thousands)

(unaudited)

		March 31, 2026		December 31, 2025
Cash	$	916,420	$	1,111,968
Working Capital	$	1,252,994	$	1,072,405
Goodwill	$	1,433,937	$	1,412,414
Identifiable Intangible Assets, Net	$	1,089,866	$	1,108,828
Total Debt	$	6,051	$	6,348
Stockholders' Equity	$	3,867,576	$	3,674,981
Total Debt / Total Capitalization		0.2%		0.2%

KEY FINANCIAL DATA - QUARTER SEGMENT DETAIL

($ Thousands, except for percentages) (Unaudited)

For the quarters ended March 31,

		% of		% of
Revenues from unrelated entities:	2026	Total	2025	Total
United States Electrical Construction & Facilities Services	$ 1,447,414	31%	$ 1,087,844	28%
United States Mechanical Construction & Facilities Services	2,026,341	44%	1,572,602	41%
United States Building Services	772,649	17%	742,623	19%
United States Industrial Services	381,829	8%	359,002	9%
Total United States Operations	4,628,233	100%	3,762,071	97%
United Kingdom Building Services	-	-%	105,301	3%
Consolidated revenues	$ 4,628,233	100%	$ 3,867,372	100%

For the quarters ended March 31,

		% of Segment		% of Segment
Operating income (loss):	2026	Revenues	2025	Revenues
United States Electrical Construction & Facilities Services	$ 174,481	12.1%	$ 136,057	12.5%
United States Mechanical Construction & Facilities Services	221,643	10.9%	186,747	11.9%
United States Building Services	40,449	5.2%	36,423	4.9%
United States Industrial Services	12,780	3.3%	6,760	1.9%
Total United States Operations	449,353	9.7%	365,987	9.7%
United Kingdom Building Services	-	-%	4,987	4.7%
Corporate administration	(45,508)		(52,218)

Consolidated operating income $ 403,845 8.7% $ 318,756 8.2%

APPENDIX - RECONCILIATION OF NON-GAAP MEASURES

($ Thousands, except for percentages and per share data) (Unaudited)

In this presentation, we provide non-GAAP operating income, non-GAAP operating margin, and non-GAAP diluted earnings per common share, for the quarter ended March 31, 2025. The following tables provide a reconciliation between these amounts determined on a non-GAAP basis and the most directly comparable GAAP measures.

For the quarters ended

March 31,

	2026	2025
GAAP operating income	$ 403,845	$ 318,756
Transaction expenses related to the acquisition of Miller Electric	-	9,353
Non-GAAP operating income	$ 403,845	$ 328,109

For the quarters ended

March 31,

	2026	2025
GAAP operating margin	8.7%	8.2%
Transaction expenses related to the acquisition of Miller Electric	-	0.2%
Non-GAAP operating margin1	8.7%	8.5%

For the quarters ended

March 31,

	2026	2025
GAAP diluted earnings per share	$ 6.84	$ 5.26
Transaction expenses related to the acquisition of Miller Electric	-	0.20
Tax effect of transaction expenses related to the acquisition of Miller Electric	-	(0.05)
Non-GAAP diluted earnings per share	$ 6.84	$ 5.41

18 1 Amounts presented in this table do not foot due to rounding

Corporate Headquarters

EMCOR Group, Inc. 301 Merritt Seven

Norwalk, CT 06851 USA

203.849.7938

[e-mail] emcorgroup.com

Lucas Sullivan

Director, Financial Planning & Analysis [e-mail]