Sterling Announces Data Center Project Award Valued at Approximately $100 Million

THE WOODLANDS, Texas, March 18, 2024 /PRNewswire/ -- Sterling Infrastructure, Inc. (NasdaqGS: STRL) ("Sterling" or "the Company")  today announced that Plateau Excavation, a Sterling subsidiary, has been awarded a data center project in the southeastern U.S. with a value of approximately $100 million. The project scope covers 280 acres and includes 125,000 linear feet of underground infrastructure installation. Work is expected to begin in the second quarter of 2024.

CEO Remarks

"The data center market remains extremely robust as our customers work to build the infrastructure to support future data demand including the needs of artificial intelligence (AI) and other emerging technologies," stated Joe Cutillo, Sterling's Chief Executive Officer. "We are very pleased to have been selected by our customer for this project. Plateau's best-in-class capabilities and customer-centric focus make them a trusted partner in mission critical projects where on-time delivery matters most."

About Sterling

Sterling Infrastructure, Inc., ("Sterling," "the Company," "we," "our" or "us"), a Delaware corporation, operates through a variety of subsidiaries within three segments specializing in E-Infrastructure, Transportation and Building Solutions in the United States, primarily across the Southern, Northeastern, Mid-Atlantic and Rocky Mountain regions and the Pacific Islands. E-Infrastructure Solutions provides advanced, large-scale site development services for manufacturing, data centers, e-commerce distribution centers, warehousing, power generation and more. Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, rail and storm drainage systems. Building Solutions includes residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs, other concrete work, and plumbing services for new single-family residential builds. From strategy to operations, we are committed to sustainability by operating responsibly to safeguard and improve society's quality of life. Caring for our people and our communities, our customers and our investors – that is The Sterling Way.

Joe Cutillo, CEO, "We build and service the infrastructure that enables our economy to run,
our people to move and our country to grow."

Important Information for Investors and Stockholders

Cautionary Statement Regarding Forward-Looking Statements

This press release contains statements that are considered forward-looking statements within the meaning of the federal securities laws. Any such statements are subject to risks and uncertainties, including those risks identified in the Company's filings with the Securities and Exchange Commission. Accordingly, such statements should be considered in light of these risks. The forward-looking statements speak only as of the date made, and we undertake no obligation to publicly update or revise any forward-looking statements for any reason, whether as a result of new information, future events or developments, changed circumstances, or otherwise, notwithstanding any changes in our assumptions, changes in business plans, actual experience or other changes. These cautionary statements qualify all forward-looking statements attributable to us or persons acting on our behalf.

Sterling Infrastructure Contacts:

Noelle Dilts, VP of Investor Relations and Corporate Strategy
281-214-0795
[email protected]

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SOURCE Sterling Infrastructure, Inc.