4 FLUOR CORPORATION DELIVERING ON OUR FOCUS AREAS Last year, the Board participated with the management team in Fluor’s strategy validation process. We evaluated the company’s short- and long-term positioning, the competitiveness of our offerings, and the focus areas that will drive sustainable growth. Following this review, the Board reaffirmed our confidence in the strategy and in management’s ability to execute it. We also deepened our engagement with shareholders by increasing dialogue between Board members and institutional investors to reinforce transparency, alignment, and strategic momentum. “The Board is confident that our ‘building a better future’ strategy positions Fluor for success by focusing on growth markets where our strengths and capabilities provide a competitive advantage and under terms that appropriately reward Fluor for the value we provide.” PERSONAL APPRECIATION I was honored when the company’s Board of Directors requested that I return to the company nearly seven years ago. My career at Fluor began in 1982, and I have been privileged to contribute through many roles, from operational leadership to my time as CEO and, most recently, as Executive Chairman. With Fluor now on a strong trajectory, the timing was right for me to retire from the Board following the May 2026 Annual Shareholders’ Meeting. I am confident that Fluor will continue its momentum under the chairmanship of James T. (Jim) Hackett as Chairman of the Board. Jim brings extensive governance experience, deep knowledge of global markets, and a long history with Fluor, including his service as Lead Independent Director and as a member of our Board across several decades. I look forward to watching Fluor continue to excel and to deliver value for all stakeholders under his capable leadership. I want to thank my fellow Board members for their steady support and guidance. I also want to thank Jim and his management team for their leadership and our employees whose unwavering dedication fuels Fluor’s success. To our clients, thank you for entrusting us with your most important projects, and to our partners and shareholders, we sincerely value your confidence and support. Together, we are delivering great projects and building a better future. Stay safe and keep well, DAVID E. CONSTABLE EXECUTIVE CHAIRMAN FLUOR CORPORATION Executive Chairman’s Reflections Continued
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