Tutor Perini Executes Contract and Receives NTP for San Francisco Central Subway Project

June 20, 2013

SYLMAR, Calif.--(BUSINESS WIRE)--Jun. 20, 2013-- Tutor Perini Corporation (NYSE: TPC), a leading civil and building construction company, today announced that it has executed a contract with the San Francisco Municipal Transportation Agency (SFMTA) valued at approximately $840 million for the Third Street Light Rail Program Phase 2 – Central Subway Stations, Surface, Track and Systems. The SFMTA has also issued its notice to proceed and the Company has begun its initial work on the project.

The scope of work for the project includes construction of three underground subway stations located atUnion Square/Market Street, Chinatown, and Yerba Buena Gardens/Moscone Center, a platform station at 4^th and Brannan Streets, and trackwork and systems from the 4^th and Brannan Station to the Chinatown Station. Substantial completion is expected in the second quarter of 2018.

The project is being managed by Tutor Perini’s Civil Group, with several of the Company’s civil and specialty subsidiaries contributing significantly to the project, including Frontier-Kemper Constructors, Becho, Desert Mechanical, Fisk Electric, and Superior Gunite.

The contract value will be included as part of the Company’s reported second quarter backlog.