TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or the “Trust”) (TSX: PMZ.UN) announces that on Friday January 31, 2025 it closed the transaction, originally announced on January 22, 2025, for the purchase of a 50% interest in Southgate Centre in Edmonton, Alberta and a 100% ownership interest in Oshawa Centre in Oshawa, Ontario. The transaction, which was subject to customary closing conditions, all of which have been fulfilled or waived, was for aggregate consideration of $585.0 million, satisfied by a combination of cash and equity, as described in the January 22 press release. The acquisition of Southgate Centre and Oshawa Centre is consistent with Primaris’ well defined growth strategy focused on market leading shopping centres in growing Canadian markets.

About Primaris Real Estate Investment Trust

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests in leading enclosed shopping centres located in growing Canadian markets. The proforma portfolio totals 15.0 million square feet, valued at approximately $4.6 billion at Primaris’ share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.

For more information:
TSX: PMZ.UN www.primarisreit.com www.sedarplus.ca

Contacts

Alex Avery

Chief Executive Officer

416-642-7837

aavery@primarisreit.com

Rags Davloor

Chief Financial Officer

416-645-3716

rdavloor@primarisreit.com

Claire Mahaney

VP, Investor Relations & ESG

647-949-3093

cmahaney@primarisreit.com

Timothy Pire

Chair of the Board

chair@primarisreit.com

HOUSTON & CALGARY, Alberta–(BUSINESS WIRE)–Civeo Corporation (NYSE:CVEO) announced today that its board of directors has declared a quarterly cash dividend of $0.25 per common share, payable on March 17, 2025 to shareholders of record as of close of business on February 24, 2025. For purposes of the Income Tax Act (Canada), the Company has designated this dividend to be an “eligible dividend”.

About Civeo:

Civeo Corporation is a leading provider of hospitality services with prominent market positions in the Canadian oil sands and the Australian natural resource regions. Civeo offers comprehensive solutions for lodging hundreds or thousands of workers with its long-term and temporary accommodations and provides food services, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications systems, security and logistics services. Civeo currently owns and operates a total of 24 lodges and villages in North America and Australia with an aggregate of approximately 26,000 rooms. In addition, Civeo operates and provides hospitality services at 22 customer-owned locations with more than 18,000 rooms. Civeo is publicly traded under the symbol CVEO on the New York Stock Exchange. For more information, please visit Civeo’s website at www.civeo.com.

Contacts

Regan Nielsen

Civeo Corporation

Vice President, Corporate Development & Investor Relations

713-510-2400

NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO–(BUSINESS WIRE)–Granite Real Estate Investment Trust (“Granite”) (TSX: GRT.UN / NYSE: GRP.U) announced today that its wholly owned subsidiary Granite REIT Holdings Limited Partnership (“Granite LP”) has priced an offering on January 30, 2025 (the “Offering”) of C$300 million aggregate principal amount of Series 10 senior unsecured debentures that will bear interest at Daily Compounded CORRA plus 0.77% per annum, payable quarterly in arrears, and will mature on December 11, 2026 (the “Debentures”). The Debentures will be guaranteed by Granite and Granite REIT Inc. The Offering is expected to close on or about February 4, 2025, subject to the satisfaction of certain customary closing conditions.

The Debentures are being offered on an agency basis by a syndicate of agents co-led by Scotia Capital, TD Securities and Desjardins Securities. It is a condition of closing that Morningstar DBRS assign a credit rating of “BBB (high)” with a stable trend or higher relating to the Debentures.

The Offering is being made on a private placement basis in each of the provinces and territories of Canada. The Debentures will rank equally with all other senior unsecured indebtedness of Granite.

Granite LP intends to use the net proceeds from the Offering to repay in full its C$300 million senior unsecured non-revolving term facility, maturing on December 11, 2026 (the “Term Loan”), immediately following the closing of the Offering, and, the balance of the net proceeds, if any, will be used for general corporate purposes. The Term Loan is fully prepayable without penalty.

Through an existing cross currency interest rate swap, Granite LP has exchanged the Canadian dollar denominated principal and floating rate interest payments related to the Debentures for Euro denominated principal and fixed interest payments, resulting in an effective fixed interest rate of 0.27% for the term of the Debentures.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT GRANITE

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 143 investment properties representing approximately 63.3 million square feet of leasable area.

OTHER INFORMATION

Copies of financial data and other publicly filed documents about Granite are available through the internet on SEDAR+ which can be accessed at www.sedarplus.ca and on the United States Securities and Exchange Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR) which can be accessed at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, and the Debentures may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended.

For further information, please see our website at www.granitereit.com or contact Teresa Neto, Chief Financial Officer, at 647-925-7560 or Andrea Sanelli, Senior Director, Legal & Investor Services, at 647-925-7504.

FORWARD LOOKING STATEMENTS

This press release may contain statements that, to the extent they are not recitations of historical fact, constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities legislation, including the United States Securities Act of 1933, as amended, the United States Securities Exchange Act of 1934, as amended, and applicable Canadian securities legislation. Forward-looking statements and forward-looking information may include, among others, statements regarding the expected closing date of the Offering, the use of the net proceeds of the Offering, the expected final credit rating for the Debentures, and Granite’s plans, goals, strategies, intentions, beliefs, estimates, costs, objectives, economic performance, expectations, or foresight or the assumptions underlying any of the foregoing. Words such as “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “seek”, “objective” and similar expressions are used to identify forward-looking statements and forward-looking information. Forward-looking statements and forward-looking information should not be read as guarantees of the expected closing date of the Offering, the use of the net proceeds of the Offering, the expected final credit rating for the Debentures, or other events, performance or results and will not necessarily be accurate indications of whether or the times at or by which future events or performance will be achieved. Undue reliance should not be placed on such statements. Forward-looking statements and forward-looking information are based on information available at the time and/or management’s good faith assumptions and analyses made in light of its perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances, and are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond Granite’s control, that could cause actual events or results to differ materially from such forward-looking statements and forward-looking information. Important factors that could cause such differences include, but are not limited to, the risks set forth in the annual information form of Granite Real Estate Investment Trust and Granite REIT Inc. dated February 28, 2024 (the “Annual Information Form”) and management’s discussion and analysis of results of operations and financial position for the three and nine month periods ended September 30, 2024 (“Q3 MD&A”). The “Risk Factors” section of the Annual Information Form and the “Risks and Uncertainties” section of the Q3 MD&A also contain information about the material factors or assumptions underlying such forward-looking statements and forward-looking information. Forward-looking statements and forward-looking information speak only as of the date the statements and information were made and unless otherwise required by applicable securities laws, Granite expressly disclaims any intention and undertakes no obligation to update or revise any forward-looking statements or forward-looking information contained in this press release to reflect subsequent information, events or circumstances or otherwise.

Contacts

Teresa Neto, Chief Financial Officer

647-925-7560

or

Andrea Sanelli, Senior Director, Legal & Investor Services

647-925-7504

• Although 70 per cent of survey respondents recognize the importance of reducing their carbon footprint, many are still opting for small-scale solutions.
• Turning off lights is the most common energy-saving method, but accounts for just 5 per cent of average energy bills. However, only 44 per cent of respondents adjusted their ambient temperature, representing over half of household energy use.

MISSISSAUGA, Ontario–(BUSINESS WIRE)–Schneider Electric, the leader in the digital transformation of energy management and automation, today released the third edition of its consumer survey in a white paper titled Evolving home energy consumption: Intentions, actions and hurdles to greater home energy efficiency. It surveyed 13,000 people from 11 countries across the world uncovering global attitudes toward household energy efficiency, sustainability and smart home technology.

Gap between awareness and action

Home energy consumption is the main driver of home emissions and has increased steadily over recent years with the spread of energy-consuming devices and appliances. This trend, coupled with skyrocketing energy costs and dramatic real-life impacts of climate change, has driven awareness of home energy consumption.

Given this, the report focuses on behaviors, barriers and readiness to adopt energy-saving solutions. Notably, this year’s results highlight a wide gap between awareness and action. 82 per cent of respondents consider energy efficiency “somewhat important” or “very important,” whilst 84 per cent said energy efficiency is the top desired home improvement, and 70 per cent responded that reducing their carbon footprint is ‘important’ to them.

However, only a few are taking the most impactful actions to reduce their energy consumption; just 44 per cent regularly adjust their ambient temperatures, despite this being one of the highest-impact actions. At the same time, 58 per cent of homeowners turn off lights as their primary strategy for saving energy, while lighting only comprising around 5 per cent of electricity bills. The second-most popular method, unplugging unused chargers (48 per cent), also has minimal impact — saving only $0.26 per charger annually.

Home energy technology

The report reveals another overemphasis on lighting when it comes to the types of home energy technology consumers have in their homes, with 52 per cent of consumers believing that smart lighting enhances energy efficiency. While 24 per cent own smart lighting, only 21 per cent have a smart thermostat, with less than half (46 per cent) acknowledging its energy-saving benefits, despite evidence showing it could reduce bills by up to 30 per cent annually.

For the first time, the survey explored attitudes toward artificial intelligence (AI). Despite predictions that AI and automation could help mitigate up to 10 per cent of global GHG emissions, 44 per cent of respondents said they would never rely on AI for household tasks, 35 per cent don’t fully understand it, and 41 per cent want to actively avoid it. In addition, 52 per cent believe smart home technology is too expensive, even though connected homes can achieve energy savings of up to 22 per cent.

The survey also shows an awareness gap for more traditional home technology: 30 per cent of respondents don’t know what their electrical panel does, and 16 per cent don’t know its location. The electrical panel is at the heart of the home’s power system and acts as the gatekeeper for ensuring the safety of electrical devices and appliances, therefore this lack of knowledge poses potential serious safety risks if the condition of the panel is ignored as homes become more electrified.

“Consumers want to reduce their energy bill, increase their energy reliability and increase energy efficiency in their homes. Yet, there exists a gap between intention and action. The technology to enhance home energy efficiency exists today but there is a lack of awareness of the most impactful ways to deploy it,” said Michael Lotfy Gierges, Executive Vice President of Home & Distribution at Schneider Electric. “Through greater electrification and digitalization, home energy use can be better measured, controlled and transitioned to more renewable sources.”

To download the full Schneider Electric Home & Distribution 2024 Consumer Survey Report, please visit: https://www.se.com/ww/en/insights/electricity-4-0/electrification/evolving-home-energy-consumption/

About Schneider Electric

Schneider’s purpose is to create Impact by empowering all to make the most of our energy and resources, bridging progress and sustainability for all. At Schneider, we call this Life Is On.

Our mission is to be the trusted partner in Sustainability and Efficiency.

We are a global industrial technology leader bringing world-leading expertise in electrification, automation and digitization to smart industries, resilient infrastructure, future-proof data centers, intelligent buildings, and intuitive homes. Anchored by our deep domain expertise, we provide integrated end-to-end lifecycle AI enabled Industrial IoT solutions with connected products, automation, software and services, delivering digital twins to enable profitable growth for our customers.

We are a people company with an ecosystem of 150,000 colleagues and more than a million partners operating in over 100 countries to ensure proximity to our customers and stakeholders. We embrace diversity and inclusion in everything we do, guided by our meaningful purpose of a sustainable future for all.

www.se.com/ca

Discover Life Is On

Follow us on: Twitter | Facebook | LinkedIn | YouTube | Instagram | Blog

Discover the newest perspectives shaping sustainability, electricity 4.0, and next-generation automation on Schneider Electric Insights.

Hashtags: #PressRelease #HomeEnergy #EnergyEfficiency #ConsumerData #ConsumerSurvey

Contacts

Media Relations – Edelman on behalf of Schneider Electric, Juan Pablo Guerrero

Phone: +1 416 875 7173, Email: juan.guerrero@edelman.com

TORONTO–(BUSINESS WIRE)–Inovalis Real Estate Investment Trust (the “REIT”) (TSX: INO.UN) announced its first LEED Platinum certification for the Francisca Delgado 9 building, located in Alcobendas, north of Madrid. This prestigious recognition, a symbol of environmental excellence, underscores the commitment of the REIT to integrate ambitious ESG practices into its asset management strategies, executed by the manager, Inovalis SA.

Francisca Delgado 9 is an iconic office building, offering 11,000 m² of leasable space and strategically located in the northern metropolitan area of Madrid. The property is fully leased to two major tenants, INDRA and ITP. Since its acquisition in March 2022, the REIT has continuously invested in the enhancement of this early 2000s asset to provide optimal comfort and service levels to its tenants.

Key features of the building include:

• High-performance water and energy management systems.
• Extensive use of soft mobility, with 70% of occupants using eco-friendly transportation.
• Sustainable management of common areas and landscaping using environmentally friendly products and processes.
• Abundant natural light and high-quality views for occupants.

The achievement of LEED Platinum certification is a key milestone in the REIT’s sustainability strategy for Francisca Delgado 9 . New projects are underway, including the installation of solar panels in parking areas, the integration of an intelligent Building Management System (BMS), and technological solutions to enhance space management for tenants, such as license plate recognition systems for parking facilities. The REIT continues its partnership with a local applied arts university, reinforcing its commitment to cultural patronage and enabling artistic visibility directly from the building’s exterior.

This Platinum-level certification was made possible with the collaboration of the building’s tenants and ESG consultant MINSAIT. Francisca Delgado 9 has been transformed into a model of resilience and environmental performance.

“Following the acquisition of this iconic property, Inovalis REIT applied its asset management expertise to elevate this asset to the highest standard of sustainability, ready to meet the challenges of tomorrow’s environmental standards and regulations,” said Khalil HANKACH, Chief Financial Officer and Chief Investment Officer of Inovalis REIT.

About Inovalis REIT

Inovalis REIT is a Real Estate Investment Trust listed on the Toronto Stock Exchange in Canada. It was founded in 2013 by Inovalis and invests in office properties in primary markets of France, Germany and Spain. It holds 13 assets. Inovalis REIT acquires (indirectly) real estate properties via CanCorpEurope, authorized Alternative Investment Fund (AIF) by the CSSF in Luxemburg, and managed by Inovalis S.A.

About Inovalis Group

Inovalis S.A. is a French Alternative Investment fund manager, authorized by the French Securities and Markets Authority (AMF) under AIFM regulations. Inovalis S.A. and its subsidiaries, including Advenis S.A. and Advenis REIM, invest in and manage Real Estate Investment Trusts such as Inovalis REIT, open ended funds (SCPI) with a focus on stable real estate investments, including Eurovalys (Germany) and Elialys (Southern Europe), Private Thematic Funds raised with Inovalis partners to invest in defined real estate strategies and direct Co-investments on specific assets.

Inovalis Group (www.inovalis.com), established in 1998 by Inovalis S.A., is a leading pan-European real estate investment platform with €7 billion in assets under management (AuM). The group operates from major financial and economic hubs, including Paris, Luxembourg, Madrid, Frankfurt, Toronto and Dubai. With a team of over 300 professionals, Inovalis Group provides a comprehensive range of services, including advisory, fund management, asset and property management, and wealth management, catering to diverse real estate and investment needs.

Contacts

For further information, please contact:

Stephane Amine, President and Chief Executive Officer
Inovalis Real Estate Investment Trust

Tel: +33 1 5643 3315

stephane.amine@inovalis.com

Khalil Hankach, Chief Financial Officer
Inovalis Real Estate Investment Trust

Tel: +33 1 5643 3313

khalil.hankach@inovalis.com

• Record Revenue $1.42 billion, up 16% Y/Y
• Record Net Revenue $1.20 billion, up 18% Y/Y
• Operating Income $23 million; adjusted operating income $138 million, up 24% Y/Y
• Record Backlog $5.44 billion, up 15% Y/Y
• Raised high-end and reaffirmed midpoint of FY25 EPS guidance

PASADENA, Calif.–(BUSINESS WIRE)–#consultingandengineering–Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services in water, environment and sustainable infrastructure, today announced results for the first quarter ended December 29, 2024.

First Quarter Highlights

• Revenue increased 16% Y/Y to $1.42 billion
• Net Revenue¹ increased 18% Y/Y to $1.20 billion
• Operating Income $23 million; adjusted Operating Income increased 24% Y/Y to $138 million
• EPS $0.00; adjusted EPS¹ increased 25% Y/Y to $0.35
• Backlog increased 15% Y/Y to $5.44 billion
• Industry-leading DSO of 55.9 days

Recent Key Wins

• $498 million five-year multiple award contracts to deliver architect-engineering services and civil works support for USACE in Los Angeles and Japan Districts
• $249 million five-year multiple award contract for planning and engineering services for USACE Mobile District
• $100 million five-year multiple award contract for the Office of Land and Emergency Management for research and analysis of emerging advanced environmental technologies
• $66 million five-year single award contract to provide disaster and emergency response services in the U.S. Midwest
• $46 million multiple award architect-engineering contract for flood and emergency response for USACE

Chairman and CEO Comments

Dan Batrack, Chairman and CEO, commented, “Tetra Tech began fiscal 2025 with a strong first quarter, which included all-time record high quarterly revenue and backlog, and record high first quarter adjusted operating income and EPS. We continued to see significant demand for our differentiated services in water, environment, and sustainable infrastructure across our global operations. In the first quarter, we added over $1 billion of new contract capacity, which included contracts for essential water supply, flood control structures and inland navigation. With our record backlog and momentum, we are well positioned to respond to our U.S. and international clients’ priorities.”

Quarterly Dividend and Share Repurchase Program

On January 27, 2025, Tetra Tech’s Board of Directors approved the Company’s 43^rd consecutive quarterly dividend at an amount of $0.058 per share, a 12% increase year-over-year, payable on February 26, 2025, to stockholders of record as of February 12, 2025. In the first quarter, Tetra Tech repurchased $25 million of common stock. Additionally, as of December 29, 2024, the Company had $323 million remaining under its $400 million share repurchase program.

Business Outlook

The following statements are based on current expectations. These statements are forward-looking, and the actual results could differ materially. These statements do not include the potential impact of transactions that may be completed or developments that become evident after the date of this release. The Business Outlook section should be read in conjunction with the information on forward-looking statements at the end of this release.

At the direction of the new U.S. Administration, Tetra Tech has paused some of its U.S. federal government work, particularly with USAID, while assisting our clients with their review of multiple programs across the various government agencies we support. Tetra Tech has updated its guidance for fiscal year 2025 based on its current outlook, which includes the potential impact of the ongoing U.S. federal government review process.

For fiscal 2025, Tetra Tech expects the full year guidance for net revenue² to range from $4.365 billion to $4.765 billion and adjusted EPS³ to range from $1.37 to $1.52. For the second quarter in fiscal 2025, Tetra Tech expects net revenue to range from $1.0 billion to $1.1 billion and EPS to range from $0.30 to $0.33.

Webcast

Investors will have the opportunity to access a live audio-visual webcast and supplemental financial information concerning the first quarter of fiscal 2025 results through a link posted on the Company’s website at tetratech.com on January 30, 2025, at 8:00 a.m. (PT).

_______________

1 Non-GAAP financial measures which the Company believes provide valuable perspectives on its business results. Refer to tables at the end of the release and Regulation G Information for reconciliations to the comparable GAAP metrics.

2 Reconciliation of the net revenue guidance to the most directly comparable GAAP measure is not available without unreasonable efforts because the Company cannot predict the magnitude and timing of all the components, including subcontractor costs, required to provide such reconciliation with sufficient precision.

3 The only adjustment in our guidance for EPS is to exclude the legal settlement costs of $0.35 in the first quarter of fiscal 2025.

Reconciliation of GAAP and Non-GAAP Items
In thousands (except EPS data)
	Three Months Ended
	December 29, 2024				December 31, 2023
Revenue	$	1,420,561			$	1,228,267
Subcontractor costs		(223,231	)			(213,098	)
Net revenue	$	1,197,330			$	1,015,169
Operating Income	$	22,526			$	111,081
Legal contingency costs		115,000				–
Contingent consideration		–				(37	)
Adjusted Operating Income	$	137,526			$	111,044
EPS	$	0.00			$	0.28
Legal contingency costs		0.35				–
Adjusted EPS	$	0.35			$	0.28

About Tetra Tech

Tetra Tech is the leader in water, environment and sustainable infrastructure, providing high-end consulting and engineering services for projects worldwide. With 30,000 employees working together, Tetra Tech provides clear solutions to complex problems by Leading with Science^® to address the entire water cycle, protect and restore the environment, design sustainable and resilient infrastructure, and support the clean energy transition. For more information about Tetra Tech, please visit tetratech.com or follow us on LinkedIn and Facebook.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as “anticipate,” “expect,” “could,” “may,” “intend,” “plan” and “believe,” among others, generally identify forward-looking statements. These forward-looking statements are based on current expectations and beliefs of Tetra Tech’s management and currently available operating, financial, economic and other information, and are subject to a number of risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. A variety of factors, many of which are beyond our control, could cause actual future results or events to differ materially from those projected in the forward-looking statements in this release, including but not limited to: continuing worldwide political and economic uncertainties; the U.S. Administration’s potential changes to fiscal policies; the cyclicality in demand for our overall services; the fluctuation in demand for oil and gas, and mining services; risks related to international operations; concentration of revenues from U.S. government agencies and potential funding disruptions by these agencies; dependence on winning or renewing U.S. government contracts; the delay or unavailability of public funding on U.S. government contracts; the U.S. government’s right to modify, delay, curtail or terminate contracts at its convenience; compliance with government procurement laws and regulations; the impact of global pandemics; credit risks associated with certain clients in certain geographic areas or industries; acquisition strategy and integration risks; goodwill or other intangible asset impairment; the failure to comply with worldwide anti-bribery laws; the failure to comply with domestic and international export laws; the failure to properly manage projects; the loss of key personnel or the inability to attract and retain qualified personnel; the ability of our employees to obtain government granted eligibility; the use of estimates and assumptions in the preparation of financial statements; the ability to maintain adequate workforce utilization; the use of the percentage-of-completion method of accounting; the inability to accurately estimate and control contract costs; the failure to adequately recover on our claims for additional contract costs; the failure to win or renew contracts with private and public sector clients; growth strategy management; backlog cancellation and adjustments; risks relating to cyber security breaches; the failure of partners to perform on joint projects; the failure of subcontractors to satisfy their obligations; requirements to pay liquidated damages based on contract performance; the adoption of new legal requirements; changes in resource management, environmental or infrastructure industry laws, regulations or programs; changes in bank and capital markets and the access to capital; credit agreement covenants; industry competition; liability related to legal proceedings, investigations, and disputes; the availability of third-party insurance coverage; the ability to obtain adequate bonding; employee, agent, or partner misconduct; employee risks related to international travel; safety programs; conflict of interest issues; liabilities relating to reports and opinions; liabilities relating to environmental laws and regulations; force majeure events; protection of intellectual property rights; stock price volatility; the ability to impede a business combination based on Delaware law and charter documents; and other risks and uncertainties as may be described in Tetra Tech’s periodic filings with the Securities and Exchange Commission, including those described in the “Risk Factors” section of Tetra Tech’s Annual Report on Form 10-K for the fiscal year ended September 29, 2024. Readers should not place undue reliance on forward-looking statements since such information speaks only as of the date of this release. Tetra Tech does not intend to update forward-looking statements and expressly disclaims any obligation to do so.

Non-GAAP Financial Measures

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 set forth above in this release.

Contacts

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844