20 Fluor Corporation Energy Solutions MEETING THE WORLD’S EVOLVING ENERGY AND CHEMICALS DEMANDS To support this growth, we are focused on successfully delivering our projects and continuing to build trusted relationships with our clients across our Production & Fuels, Chemicals and LNG & Power business lines. We are engaging our stakeholders to drive repeat business as well as addressing project talent and leadership needs to ensure execution excellence. DELIVERING PROJECTS WITH CERTAINTY AND EXCELLENCE In 2024, our execution-focus delivery drove significant achievements, including the successful completion of key projects. We finished our work on the SHRED project at Imperial Oil’s Strathcona Refinery near Edmonton, Alberta, Canada. Our scope included front-end engineering and design (FEED), engineering and procurement on this facility designed to convert pretreated vegetable oil feedstock into high-quality renewable diesel product. Our LNG Canada project in Kitimat, British Columbia, Canada, is also nearing mechanical completion. Designed to meet some of the world’s most stringent regulatory standards for safety, sustainability and environmental protection, the facility is expected to start LNG production in 2025. This year, a Fluor-led joint venture received a limited notice to proceed with the design phase of units three and four at the Cernavodă Nuclear Power Plant in Cernavodă, Romania, a facility that produces 20% of the country’s power. The project will double the facility’s capacity, greatly increasing the region’s source of safe, clean and reliable baseload electricity. The Cernavodă project is a collaborative effort among nations, governments, technology providers and EPC contractors. Fluor successfully completed EPCM work on Albemarle’s 50,000-tons-per-annum capacity lithium conversion facility within a 20-month duration, achieving project delivery records for both Albemarle and Fluor for similar scale projects. This project executed more than 16 million work hours with zero lost-time hours over the course of construction. With speed to market, lower capital intensity, lower product cost and improved sustainability, the facility produces some of the world’s most sustainable and high-quality products. This year, we refined the market outlook for our Energy Solutions segment to strengthen Fluor’s position for future business success, with an emphasis on balancing our project portfolio in both traditional and energy transition markets. We will build on our strong presence in energy and chemicals projects while strategically expanding into the power market to meet growing demands for reliable baseload electricity. 73% of new award projects were sole source and 45% were followon awards to existing projects, compared to 70% and 40%, respectively, in 2023. Nearly 50% of our current projects within Energy Solutions include an energy transitionfocused scope. Awarded 2024 ENR Global Best Project (Power/Industrial) for the Albemarle Meishan Lithium Conversion Project. 2024 Performance Highlights
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