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Tutor Perini Announces Executive Leadership Changes

Gary Smalley appointed as President and will succeed Ronald Tutor as Chief Executive Officer Ryan Soroka appointed as Senior Vice President and Chief Financial Officer

LOS ANGELES–Tutor Perini Corporation (the “Company”) (NYSE: TPC), a leading civil, building and specialty construction company, today announced that its Board of Directors (the “Board”) has appointed Gary Smalley, the Company’s current Executive Vice President and Chief Financial Officer, to the position of President, effective November 15, 2023. The Company plans for Mr. Smalley to succeed Ronald Tutor as Chief Executive Officer of the Company effective January 1, 2025, with Mr. Tutor transitioning to the role of Executive Chairman of the Company’s Board at that time, consistent with the timing of the leadership succession plan previously disclosed by the Company.

Mr. Smalley, age 64, has served as Executive Vice President and Chief Financial Officer of the Company since September 2015. Previously, he held several financial management roles during nearly 24 years with Fluor Corporation (NYSE: FLR), a multinational engineering and construction firm.

Additionally, the Company announced today the appointment of Ryan Soroka to the position of Senior Vice President and Chief Financial Officer (in addition to his current role as Chief Accounting Officer), effective November 15, 2023.

Mr. Soroka, age 41, has served as Vice President and Chief Accounting Officer of the Company since April 2017. He has held several senior financial management positions for the Company and its subsidiaries since June 2011.

The Company is currently searching for a replacement for the role of Chief Accounting Officer and expects to announce an appointment shortly. Mr. Soroka will continue to serve as the Company’s Chief Accounting Officer until such replacement is appointed.

“Gary is a proven leader who has provided valuable insights and demonstrated consistently sound judgment and first-rate executive management skills over his eight years with the Company,” Mr. Tutor commented. “I am confident that Gary is the right person to lead Tutor Perini into the future, and I look forward to continuing to work with him and effecting a smooth leadership transition over the coming year.”

Michael Klein, the Company’s lead independent director, added, “Our Board unanimously supports Gary’s promotion and his selection as our Company’s next CEO. We commend Ron on both his decades of outstanding service to Tutor Perini and his strong recommendation of Gary as his successor. The Board looks forward to working closely with Gary and with Ryan in leading the Company to future growth and success.”

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). We are known for our major complex building project commitments, as well as our capacity to perform large and complex transportation and heavy civil construction for government agencies and private customers throughout the world.