Tutor Perini Announces Contract Execution and Receipt of Notice to Proceed for the $1.66 Billion City Center Guideway and Stations Project in Honolulu

Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that it has executed the contract with the Honolulu Authority for Rapid Transportation and received a Notice to Proceed with design and construction of the previously announced City Center Guideway and Stations Project in Honolulu, Hawaii.

The scope of the approximately $1.66 billion contract includes the design and construction of six rail stations and approximately three miles of elevated rail guideway beginning just east of the Middle Street Transit Center Station and ending at the Civic Center Station, which will be located just east of the intersection of Halekauwila Street and South Street in downtown Honolulu. Project design is expected to begin immediately while construction is estimated to commence in the second half of 2025. Construction of this segment is expected to be substantially completed in 2030. Parsons Corporation (NYSE:PSN) will serve as Tutor Perini's design subcontractor.

The contract value was added to the Company's backlog in the third quarter of 2024.

About Tutor Perini Corporation

Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private customers and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget, while adhering to strict quality control measures. We offer general contracting, pre-construction planning and comprehensive project management services, including planning and scheduling of manpower, equipment, materials and subcontractors required for a project. We also offer self-performed construction services including site work, concrete forming and placement, steel erection, electrical, mechanical, plumbing and heating, ventilation and air conditioning (HVAC).

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