Q2-21 EARNINGS CALL

April 29, 2021

Dan Batrack, Chairman & CEO Steve Burdick, Executive VP & CFO

WATER

ENVIRONMENT

SUSTAINABLE INFRASTRUCTURE

RENEWABLE ENERGY

Forward Looking Statements &

Non-GAAP Financial Measures

Certain statements contained in this presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties, such as those related to fluctuations in the Company's quarterly operating results and stock price, and the other risks detailed from time to time in the Company's SEC reports.

To supplement the financial results presented in accordance with generally accepted accounting principles in the United States ("GAAP"), we present certain non-GAAP financial measures within the meaning of Regulation G under the Securities Exchange Act of 1934, as amended. We provide these non-GAAP financial measures because we believe they provide a valuable perspective on our financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance with, or a substitute for, GAAP measures. In addition, other companies may define non-GAAP measures differently which limits the ability of investors to compare non-GAAP measures of Tetra Tech to those used by our peer companies. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is available at investor.tetratech.com.

2

Q2-21 Results

Net Revenue

EPS

Backlog

$584M $600M

$0.83

$2.99B

$3.15B

$0.66

+3%

+26%

+5%

Q2-20

Q2-21

Q2-20

Q2-21

Q2-20

Q2-21

3

Net Revenue by Customer (Q2-21)

Customer

% of

Y/Y

Comments

Net Rev.

U.S. Federal

31%

+6%

Advanced analytics up

International development projects delayed

U.S. State & Local

17%

+32%

Disaster response up

Municipal infrastructure: +19% Y/Y

International

31%

-5%

International government stable

Commercial discretionary down

U.S. Commercial

21%

-7%

Discretionary industrial programs down

Regulatory driven programs stable

4

Performance by Segment (Q2-21)

Segment

OI Margin (% of Net Rev.)

Comments

13.3%

11.5%

Advanced analytics and digital water up

GSG

Higher utilization

Q2-20Q2-21

9.9% 10.4%

CIG

Focus on high-end consulting services

Environmental & renewable energy up

Q2-20Q2-21

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Disclaimer

Tetra Tech Inc. published this content on 28 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2021 22:20:03 UTC.