AECOM : Q3 Earnings Presentation Slides (PDF)

FARO MINE REMEDIATION

Canada

Working with the Government of Canada, affected First Nations and additional partners to deliver environmental remediation services for one of the most complex abandoned mine clean-up projects in the country.

Disclosures

Forward-Looking Statements

All statements in this communication other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, coronavirus impacts, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees; ability to continue payment of dividends; exposure to political and economic risks in different countries, including tariffs; currency exchange rate and interest fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital real estate development projects; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the expected benefits and costs of the sale of our Management Services and self-performat-risk civil infrastructure, power construction and oil and gas construction businesses, including the risk that any contingent purchase price adjustments from those transactions could be unfavorable and result in lower aggregate cash proceeds and any future proceeds owed to us under those transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.

Non-GAAP Financial Information

This communication contains financial information calculated other than in accordance with U.S. generally accepted accounting principles ("GAAP"). The Company believes that non-GAAP financial measures such as adjusted EPS, adjusted EBITDA, adjusted net/operating income, adjusted tax rate, net service revenue and free cash flow provide a meaningful perspective on its business results as the Company utilizes this information to evaluate and manage the business. We use adjusted EBITDA, adjusted EPS, adjusted net/operating income and adjusted tax rate to exclude the impact of non-operating items, such as amortization expense, taxes and non-core operating losses to aid investors in better understanding our core performance results. We use free cash flow to represent the cash generated after capital expenditures to maintain our business. We present net service revenue to exclude subcontractor costs from revenue to provide investors with a better understanding of our operational performance. We present segment adjusted operating margin to reflect segment operating performance of our Americas and International segments, excluding AECOM Capital.

Our non-GAAP disclosure has limitations as an analytical tool, should not be viewed as a substitute for financial information determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. A reconciliation of these non-GAAP measures is found in the Regulation G Information tables at the back of this release.

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Today's Participants

Troy Rudd

Lara Poloni

Gaurav Kapoor

Chief Executive Officer

President

Chief Financial Officer

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Q3'22 Key Themes and Messages

THEME

PROOF POINTS

Delivering On Our

Commitments

Gaining Market Share

Expanding Our Addressable Market

• Accelerating organic NSR1 growth, margin expansion, and double-digit per share earnings and year-to-date free cash flow2 growth
• 10%3 growth in design backlog to a record high and a continued all-time high win rate, driven by a focus on deploying time and capital to winning transformation projects
• Expanding digital, advisory services, and world-class program management capabilities to increase our addressable market

Positioned for Substantial		Secular growth drivers, including a global infrastructure investment renaissance,
→ investments in sustainability and resilience, and reshaping infrastructure for a post-COVID
Market Growth		world, are firmly intact and benefiting from strong funding with several years of visibility
Maximizing Value	→	Investing in accelerating organic growth and innovation, while executing a disciplined
capital allocation policy that returns substantially all available cash flow to shareholders

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Our Q3'22 Strategic and Financial Accomplishments

DELIVERING ON OUR STRATEGIC AND FINANCIAL COMMITMENTS

(+50 bps YoY)

Accelerating Organic NSR1	Continued Segment Adjusted4	Double-Digit Adjusted4 EPS	FY'22E Adjusted4 EBITDA6 Growth	FY'22E Adjusted4 EPS Growth
Growth	Operating Margin5 Expansion	Growth	(at Mid-Point of Guidance)	(at Mid-Point of Guidance)

We are delivering on our commitments

• Raised FY'22 adjusted4 EPS guidance for the second time this year and reiterated our long-term financial targets
• Delivered a sixth consecutive quarter of growth with 6% organic NSR1 growth
• Continued to expand our industry-leading margins
• • 14.6% segment adjusted4 operating margin5 in the third quarter, an increase of 50 basis points from the prior year; investing through our margin to capitalize on a rapidly expanding set of growth opportunities
• Adjusted4 EBITDA6 and adjusted4 EPS growth of 7% and 18%, respectively, driven by strong execution and a high-quality backlog
• Strong free cash flow2 resulting in year-to-date free cash flow of $328 million, an increase of 15% over the prior year period
• • Enabled the return of more than $400 million to shareholders year-to-date through stock repurchases and dividends

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