18 Fluor Corporation Urban Solutions Urban Solutions, Fluor’s most diversified business segment, saw an acceleration of execution activities on multiple projects in 2024. Excellent project delivery remains central to support unprecedented market demand in areas such as advanced technologies, life sciences and copper projects. Our ability to leverage Fluor’s supply chain capabilities and perform projects of significant size continues to serve us well. Continued urbanization will drive demand for our services and innovative solutions in each of the business lines that comprise this segment: Advanced Technologies & Life Sciences (ATLS), Infrastructure, Mining & Metals, Plant & Facility Services and TRS Staffing Solutions™. INCREASING OUR BACKLOG TO MEET DEMAND In 2024, ATLS served as a growth engine for the company and we anticipate this momentum continuing in markets such as pharmaceutical manufacturing, data centers and semiconductors. Backlog for ATLS has increased nearly 90% over the past year. Work continued to progress on the Eli Lilly pharmaceutical facility in Indiana, highlighted on page 19, and we see opportunity for additional work in life sciences projects in Europe and the United States. In the data center market, we continued to engage with large tech companies and expect to be able to leverage our previous work experience in Finland and India to support these clients. We worked on an innovative cooling process concept and completed work with a client to develop offsite modularization design and production processes that will expedite the build out of these facilities. In the semiconductor space, we continued to engage with a major manufacturer on select projects. BUILDING OUR FOUNDATION FOR FUTURE GROWTH Our Mining & Metals business experienced high levels of project activity in 2024, driven by strong client relationships, commitment to safety and our reputation for successfully delivering complex projects. This year, our engineering teams worked on several studies cumulatively valued between $25 and $30 billion, some of which we expect to convert to pull through awards in the years to come. We successfully advanced projects that support electrification and decarbonization, such as the Centinela copper concentrator in Chile’s Antofagasta region (referenced in the spotlight on page 19) and an aluminum rolling facility project in Alabama, United States. DELIVERING PROJECTS FOR THE URBANIZING WORLD BHP South Flank Iron Ore Project // Western Australia, Australia Reached a record 23 million work hours in the Advanced Technologies & Life Sciences business, reflecting significant growth. Worked on $25–30 billion in early-stage feasibility studies and analysis for future copper projects. Served as a strategic partner for the Texas Department of Transportation, with multiple projects underway. 2024 Performance Highlights
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