MasTec : Investor Day Presentation PDF about MasTec 2026 Investor Day

Published: 2026-05-12 12:20:31 ET MTZ

Published on 05/12/2026 at 12:20 pm EDT

Investor Day 2026

May 12, 2026 - New York City

Welcome and Opening Remarks

Marc Lewis

Investor Relations

Safe Harbor Statement

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Forward-looking statements include, but are not limited to, statements relating to expectations regarding the future financial and operational performance of MasTec; expectations regarding MasTec's business or financial outlook; expectations regarding MasTec's plans, strategies and opportunities; expectations regarding opportunities, technological developments, competitive positioning, future economic conditions and other trends in particular markets or industries; the impact of inflation on MasTec's costs and the ability to recover increased costs, as well as other statements reflecting expectations, intentions, assumptions or beliefs about future events and other statements that do not relate strictly to historical or current facts. These statements are based on currently available operating, financial, economic and other information, and are subject to a number of significant risks and uncertainties. For additional information concerning some of the risks, uncertainties, assumptions and other factors that could affect our forward-looking statements, please refer to our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission ("SEC"), as well as our press releases, which are available on our website. We believe these forward-looking statements are reasonable; however, you should not place undue reliance on any forward-looking statements, which are based on current expectations. Furthermore, forward-looking statements speak only as of the date they are made. If any of these risks or uncertainties materialize, or if any of our underlying assumptions are incorrect, our actual results may differ significantly from the results that we express in, or imply by, any of our forward-looking statements. We do not undertake any obligation to publicly update or revise these forward-looking statements after the date of this presentation to reflect future events or circumstances, except as required by applicable law. We qualify any and all of our forward-looking statements by these cautionary factors.

Investor Day 2026 3

Non-GAAP Financial Measures

Certain information may be provided in this presentation that includes financial measurements that are not required by, or presented in accordance with, generally accepted accounting principles (GAAP). Because non-U.S. GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-U.S. GAAP financial measures having the same or similar names. These financial measures should not be considered in isolation from, as substitutes for, or alternative measures of, reported net income or diluted earnings per share, and should be viewed in conjunction with the most comparable U.S. GAAP financial measures and the provided reconciliations thereto. We believe these non-U.S. GAAP financial measures, when viewed together with our U.S. GAAP results and related reconciliations, provide a more complete understanding of our business. We strongly encourage investors to review our consolidated financial statements and publicly filed reports in their entirety and not rely on any single financial measure. In addition, please refer to the reconciliation tables and definitions included in the Appendix and in the Company's SEC filings and press releases.

Estimated Long-Term Non-GAAP Financial Measures

We have not provided the most directly comparable GAAP financial measures, or a quantitative reconciliations thereto, for the forward-looking information for the 2028 target adjusted EBITDA, adjusted EBITDA margin, adjusted diluted earnings per share, free cash flow, or return on invested capital, in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K because we are unable to predict, without unreasonable efforts, the timing and amount of items that would be included in such reconciliations.

These items are uncertain and depend on various factors that are outside of MasTec's control or cannot be reasonably predicted. Estimated segment adjusted EBITDA and estimated segment adjusted EBITDA margin include the impact of, among other things, amortization of intangible assets and depreciation, which may be significant and difficult to project with a reasonable degree

of accuracy. While we are unable to address the probable significance of these items, they could have a material impact on our GAAP financial results for the period.

Investor Day 2026 4

Today's Agenda

8:45 AM ET Welcome and Opening Remarks

Marc Lewis | Investor Relations

MasTec and the New American Infrastructure Boom

José Mas | Chief Executive Officer

Driving High Performance Teams

Bob Apple | Chief Operating Officer

Building and Modernizing the U.S.

10:35 AM ET Clean Energy & Infrastructure

Mark Hellstrom | President of Infrastructure and Industrial

Michael Russell | President of Renewables

Manny García-Tuñón | President of General Building

Financial Overview & Medium-term Outlook

Paul DiMarco | EVP & Chief Financial Officer

Closing Remarks: Invest with Us

José Mas | Chief Executive Officer

Power Grid at Scale

Zach McGuire | President of Power Delivery

11:35 AM ET

Q&A Session with All Presenters

Driving Profitable Growth across Communications Infrastructure

12:00 PM ET

Leadership Luncheon

Rick Suarez | President of Communications

Leading the Next Pipeline Construction Cycle

Bobby Poteete | President of Precision Pipeline

10:05 AM ET

Q&A Session with Above Presenters

10:25 AM ET

BREAK

Investor Day 2026 5

MasTec and the New American Infrastructure Boom

José Mas

Chief Executive Officer

Key Messages

Building a leading infrastructure capacity platform at scale

Capitalizing on the 3 largest infrastructure cycles in U.S. history

Driving meaningful margin expansion through scale, mix, and disciplined execution

4 Reinforcing our confidence in long-term growth and value creation

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Capitalizing on 3 of the Largest Infrastructure Cycles in U.S. History

Rapid growth in data centers driving power generation and grid investment

AI-driven power demand

Continued investment in renewables, gas infrastructure, and grid modernization

Energy transition

Broadband universalization

Ongoing expansion of fiber, middle-mile, and last-mile connectivity

Positioned at the Center of Unprecedented Infrastructure Demand

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"Infrastructure Capacity Platform"

1 Expertise in managing complex, large-scale infrastructure projects

Ability to scale and deploy a

national workforce across multiple end markets

3 Flexibility to invest where infrastructure demand is accelerating

4 Proven capability to execute across a wide range of infrastructure types

Scaled Infrastructure Capacity Platform Built to Capture Opportunity

Investor Day 2026 9

A History Rooted in Entrepreneurship, Opportunity, and Long-term Value Creation

Founded on an entrepreneurial vision and strong work ethic

Growth driven by long-term commitment to people and execution

History rooted in building opportunity for employees and their families

Culture centered on accountability, teamwork, and delivering results

Founded as Church & Tower 1969

MasTec goes public

1994

1992

José Mas joins the company

2007

José Mas becomes CEO

Our History and Culture Continue to Shape How We Operate and Create Value Today

Investor Day 2026 10

MasTec

added to

Fortune 500

2018

20+ Year Track Record of Growth

Revenue ($B) Adj. EBITDA ($M)

~19%

CAGR

SINCE 2007

~17%

CAGR

SINCE 2007

$17.5

~17%

CAGR

SINCE 2007

$1,500

Adj. Diluted EPS

$8.79

$0.9

$59

$0.48

2007 2010 2015 2020 2026E

Proven Track Record of Scaling the Business and Creating Long-term Shareholder Value

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Transforming the Business to Capture the Next Phase of Infrastructure Growth

Revenue ($B)

SINCE 2020

$17.5B

$6.3B

2020 2026E

How the Business

Has Transformed

Pandemic reinforced the need for a

more diversified platform

Strategic acquisitions expanded

capabilities and end market exposure

Shift toward higher-growth, less

cyclical infrastructure markets

Improved mix supporting margin

expansion

Investor Day 2026

Structural Advantages that Differentiate Us and Drive How We Win

Scaled workforce

with deep expertise

Significant owned equipment and fleet

National platform enabling large-scale execution

Long-standing, embedded

customer relationships

These Advantages Position us to Compete More Effectively and Sustain Growth Over Time

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A Large, Skilled Workforce that is Critical to Execution

across the platform

and operational expertise

complex projects

Access to Skilled Labor is a Difficult to Replicate Asset and a Meaningful Differentiator

1. Estimate as of the date of the presentation.

Investor Day 2026 14

Significant Equipment and Fleet Supporting Efficient and Reliable Execution

equipment fleet across the platform

Faster Lead Times

enables rapid deployment and project acceleration

Supply Chain Certainty

ensures reliable access to critical equipment and materials

Procurement Advantage

leverages scale to secure priority access and cost efficiency

1. Represents gross value of machinery, equipment, and vehicles as of March 31, 2026.

Investor Day 2026 15

Deep, Long-standing Customer Relationships Drive Repeat Business

Clean Energy & Infrastructure

Power Delivery

Communications

Pipeline Infrastructure

Low Customer Concentration

Top 10 customers

34%

OF 2025 REVENUES

Top 10 Average Customer

Relationship

20+ years

Investor Day 2026

National Scale Enabling Execution of Large, Complex, Multi-project Programs

Nationwide footprint across key markets

800+

Locations Nationwide1

Ability to execute multiple large projects simultaneously

Integration across business segments

Consistent delivery at scale

Scale Enables us to Support Labor, Equipment, and Relationships

1. As of December 31, 2025.

Investor Day 2026 17

Investing in Training and Development to Support Scalable, Long-term Growth

35+ training centers across the U.S.

Dedicated Training Facilities

~38,0001

employees trained

Focus on developing skilled

labor and leadership NV

WI MI NY

>3,700

Standardized processes and safety practices

Supports long-term workforce growth

CA CO

IL MD

TN NC

unique training courses

~450,000

training courses completed

Specialized in skills development for both wireless and wireline employees

4-year program registered with U.S. Dept. of Labor focused on OH/UG linemen

Partnership with U.S. Military offering active-duty military members opportunities across MasTec

Investing in People Supports Both Execution Today and Growth in the Future

1. Estimate as of the date of the presentation.

Investor Day 2026 18

Large Total Addressable Market across Key Infrastructure End Markets

2025

Revenue

Market Size

Market share

($B)

(%)

TAM1

TAM

CE&I | Renewables

Top 2

$2.5

$65

~4%

contractor

CE&I | Infrastructure, Industrial, General Building and other2

Top

contractor

$2.2

$375

~1%

Power Delivery

Top 2

$4.2

$170

~2%

contractor

Communications

Top 2

$3.3

$50

~7%

contractor

Pipeline Infrastructure

Top 1

$2.1

$25

~9%

contractor

Total

$14.3

~$685

~2%

Key highlights

MasTec has a leading role across key sectors, with diversified end-market exposure

Fragmented markets create opportunity to grow beyond TAM growth rate, as owners / operators favor contractors with national footprint, execution track record, and balance sheet to deliver complex, multi-year projects

1. Source: Global leading consulting firm and MasTec estimates; 2. Includes Highway & Roads, Bridges & Tunnels, Rail & Transit, Aviation (Airports), Marine & Ports, Water Supply, Wastewater & Stormwater, CCR remediation, Gas-fired power generation, and Data Centers.

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Significant TAM Growth Expected Over the Next Five Years

Total Addressable Market1 ($B)

+48%

~1,010

Reporting segment

165

105

220

285

170

50 25

Pipeline Infrastructure

Subsegment

Natural gas, oil, carbon capture

Cumulative

2026-2030 TAM1 ($B)

160

295

Communications Wireless and

235

wireline

~685

2025

145

2030

Power Delivery

Clean Energy & Infrastructure

Total

Power T&D2 and gas distribution

Renewables

Industrial and Other3

General Building / Data Center

Infrastructure

1,095

370

640

725

1,285

~$4.6T

1. Source: Leading global consulting firm and MasTec estimates; 2. Transmission and distribution; 3. Includes Water Supply, Wastewater & Stormwater, CCR Remediation and Gas-fired power.

Investor Day 2026 20

Disclaimer

MasTec Inc. published this content on May 12, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 12, 2026 at 16:19 UTC.