29 2023 Integrated Report 01 Our Company and Strategy 02 Our Businesses 03 Our Functions 04 Our Corporate Information What impact has Fluor’s technical expertise had on the company’s growth over the past year? Technical excellence is one of Fluor’s differentiators, particularly in challenging, front-end, first-of-a-kind engineering work. The energy transition has fueled the need for unprecedented levels of technical expertise to help scale new decarbonization technologies to a commercial level. Our experts engaged with several clients at the conceptual stages of their energy transition projects, providing valuable insight and execution know-how. Many times, this early technical engagement leads to sole source studies or front-end engineering and design work. Read more on page 30 What is Fluor’s approach to project execution? When clients come to Fluor, safety and quality are non-negotiables. Our safety culture, which we call Safer TogetherSM, is essential to the success of projects and the wellbeing of those who work on them. We are committed to preventing injuries and illnesses on our sites; our robust programs and procedures help us mitigate the hazards inherent in the work we do. We also look to address the risk factors that make members of our industry vulnerable to mental health issues, including raising awareness about suicide prevention and training front-line supervisors to foster psychologically safe work environments. Safety and quality go hand-in-hand. We elevated our Quality function to give it an equal standing to safety and to emphasize how much it can influence the outcome of projects. This year, we made significant upgrades to Fluor’s proprietary Quality Requirements System (QRS), which provides proven standards and practices for projects based on business, scope and size. Following these improvements, we have seen an increase in user adoption and an improvement in process optimization. When we provide the dependable, quality project delivery our clients expect and deserve, they are much more likely to trust Fluor with future work. Read more on pages 30-31 Q&A with Mark Fields, Group President, Project Execution “We care deeply about safety and keeping people out of harm’s way. We are driven to execute with a quality and efficiency mindset.” How is Fluor protecting shareholder interests through project risk management? Fluor has sophisticated and structured processes to protect our stakeholders, directly tying risk assessment into governance and management reviews. We have leveraged our decades of project execution experience to develop data-driven solutions, like our UnisonSM EPC tools that help our teams use data to identify issues before they manifest into project challenges. Fluor’s project managers and project controls leaders are using our historical project data to compare live project progress quickly and identify potential risks. These tools are also being used to identify best practices and teach our next generation of project leaders. Additionally, our Market Dynamics/Spend Analytics (MD/SASM) system tracks supply chain trends and helps our project teams manage risk and optimize project spend. Read more on pages 42-43 Teams using EPC design tools // Calgary, Alberta, Canada
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