UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 1-12911 Granite Construction Incorporated (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpo ...

Financial Data and Key Metrics Changes - For fiscal year 2021, revenues from continuing operations decreased by 4% year-over-year, while gross profit improved slightly, resulting in a gross profit margin of 10% [43][44] - Adjusted EBITDA from continuing operations for fiscal 2021 was $163 million with a margin of 5.4%, compared to $153 million and 4.9% in the prior year [51] - Operating cash flow for fiscal 2021 decreased to $22 million compared to $268 million in 2020, impacted by various factors including legal fees [53] Business Line Data and Key Metrics Changes - In the Construction segment, full-year revenue from continuing operations declined by $162 million year-over-year to $2.6 billion, primarily due to lower revenue in the Central and California Groups [44] - The Materials segment saw a revenue increase of 12% over the prior year, driven by higher volumes across operating groups, although gross profit margin declined from 17% to 14% [49][40] Market Data and Key Metrics Changes - The Infrastructure Investment and Jobs Act signed in November 2021 provides $550 billion in incremental funding over five years, which is expected to benefit various infrastructure projects [41] - The California market is seeing increased opportunities, with Caltrans lettings up year-over-year and an improving budget outlook due to SB1 [98] Company Strategy and Development Direction - The company announced a strategic plan focusing on core competencies in civil construction and materials, leading to the divestiture of non-core businesses [10][12] - The new strategic plan includes themes such as developing people, raising execution standards, growing market share, and maximizing Granite Value Add (GVA) [22][25] - The company plans to invest in technology and aggregate reserves to enhance its vertically integrated business model [62] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market outlook, anticipating low-single-digit revenue growth in 2022, with more significant impacts expected in 2023 and beyond due to federal funding [56][58] - The company expects to complete the majority of the ORP projects in 2022, which should lead to improved margins moving forward [59][66] Other Important Information - The company has increased its share repurchase program authorization to $300 million, reflecting a strong cash and liquidity position [20][55] - The ORP ended the year with remaining CAP of $319 million, with expectations to burn through this amount in 2022 [46][48] Q&A Session Summary Question: Rationale for selling water portfolio and expected capital from remaining businesses - Management indicated that the decision to divest the WMS businesses was based on a strategic focus on core competencies in civil construction and materials, with the amount from remaining businesses yet to be determined [72][73] Question: Expectations for EBITDA margins post-ORP - Management anticipates long-term EBITDA margins to trend towards 9% to 10% as the ORP is completed and focus shifts back to core operations [76] Question: SG&A expectations excluding ORP - Management expects SG&A to improve as the Central Group transforms and focuses on home markets, with a potential increase in efficiency [78] Question: Market competitiveness and CAP margin expectations - Management noted that the quality of CAP heading into 2022 is better than in previous years, with a shift towards less risky projects expected to improve margins [86][87] Question: Share repurchase program and liquidity management - Management confirmed a strong liquidity position with plans to balance share repurchases and debt paydown following the completion of divestitures [92][94]

Granite Construction Incorporated (NYSE:GVA) Q3 2021 Earnings Conference Call October 28, 2021 11:00 AM ET Company Participants Mike Barker - Vice President of Investor Relations Kyle Larkin - President & Chief Executive Officer Lisa Curtis - Executive Vice President & Chief Financial Officer Conference Call Participants Brent Thielman - D. A. Davidson Steven Ramsey - Thompson Research Group Michael Dudas - Vertical Research Adam Beavis - Goldman Sachs Operator Good morning. My name is Debbie and I will be ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 1-12911 GRANITE CONSTRUCTION INCORPORATED State of Incorporation: I.R.S. Employer Identification Number: Delaware ...

GRANITE © 2021 Granite Construction. All Rights Reserved. Granite Construction Q2 | FY 2021 Earnings Conference Call Safe Harbor Any statements contained in this presentation that are not based on historical facts, including statements regarding future events, occurrences, circumstances, activities, performance, growth, demand, strategic plans, outcomes, outlook, guidance, Committed and Awarded Projects (CAP), and results, constitute forward-looking statements within the meaning of the Private Securities Li ...

Financial Data and Key Metrics Changes - Consolidated revenue for Q2 2021 grew 5% year-over-year to $964 million, with gross profit increasing 32% year-over-year to $117 million, resulting in a gross profit margin of 12% [26][32] - Adjusted EBITDA for Q2 increased by $30 million year-over-year to $80 million, with an adjusted EBITDA margin of 8% [32] - Adjusted net income for Q2 was $42 million, a $23 million improvement from $19 million in the same period last year [32] Business Line Data and Key Metrics Changes - **Transportation Segment**: Revenue decreased by $10 million year-over-year to $525 million, while gross profit increased 91% to $60 million, with a gross profit margin of 11% [27] - **Water Segment**: Revenue increased 3% year-over-year, driven by recovery from the pandemic and strong demand due to drought conditions, but gross profit decreased 16% to $11 million [29] - **Specialty Segment**: Revenue increased 15% year-over-year to $200 million, while gross profit decreased 4% to $24 million, resulting in a gross profit margin of 12% [30] - **Materials Segment**: Revenue increased 30% year-over-year to $125 million, with gross profit increasing 17% to $22 million, resulting in a gross profit margin of 18% [31] Market Data and Key Metrics Changes - The California Group's cap increased by 25% year-over-year to $1.2 billion, reflecting strong market conditions [16] - The Water segment's cap increased by 129% year-over-year to $532 million, including the addition of a $160 million project [20] - The Specialty segment's cap remained over $1 billion, driven by increased activity in mineral exploration and public works projects [21] Company Strategy and Development Direction - The company is focusing on transforming and de-risking its Heavy Civil Operating Group portfolio by pursuing projects with lower risk profiles [15] - Emphasis on integrity and excellence as core values, with a focus on continuous improvement and innovation [10][11] - The company is leveraging technology to enhance safety, efficiency, and project execution across all segments [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the funding environment in public markets and the strength of the economy in private markets, anticipating greater expansion with the completion of the federal infrastructure bill [39] - The company is well-positioned to grow in California, with expected infrastructure spending increasing from an average of $4.4 billion to $6 billion annually [17] - Management reiterated guidance for a full fiscal year adjusted EBITDA margin of 5.5% to 7.5% [37] Other Important Information - The company has a strong cash and marketable securities balance of $404 million, up $109 million year-over-year [34] - SG&A expenses for the quarter were $74 million, or just under 8% of revenue, compared to $78 million or 8.5% in the same prior year period [36] Q&A Session Summary Question: Thoughts on cap and its levels moving forward - Management noted a decrease in cap in the Heavy Civil Group as part of a strategic shift, but an increase in cap from vertically integrated businesses indicates a healthy pipeline of projects [46] Question: Expectations for the water business in the second half of the year - Management highlighted recovery in the water segment due to drought conditions and increased spending, expecting to return to pre-pandemic levels [49] Question: Concerns about materials profit margin and commodity prices - Management confirmed that they have been able to pass on cost increases to customers, maintaining margins in the materials business [60] Question: Observations on pricing and supply constraints - Management indicated that they have successfully passed on cost increases and are monitoring the market for potential future price increases [59] Question: SG&A outlook and drivers for sequential increase - Management expects a normal trend in SG&A expenses as the year progresses, with no significant anomalies anticipated [80] Question: Bid environment and competitive discipline - Management reported a robust pipeline of projects across all business segments, with a shift towards more favorable contracting methods [81]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 1-12911 GRANITE CONSTRUCTION INCORPORATED State of Incorporation: I.R.S. Employer Identification Number: Delaware 77-02 ...

Financial Data and Key Metrics Changes - Consolidated revenue for Q1 2021 grew 5% year-over-year to $670 million, with gross profit increasing 166% year-over-year to $63 million, resulting in a gross profit margin of just under 10% [38][39] - Adjusted EBITDA for the first quarter increased $35 million year-over-year to $17 million, resulting in an adjusted EBITDA margin of over 2% [44] - Adjusted net loss improved to $5 million from an adjusted net loss of $32 million in the prior year [46] Business Segment Data and Key Metrics Changes - Transportation segment revenue was up slightly year-over-year to $351 million, with gross profit increasing 41% to $36 million, resulting in a gross profit margin of 10% [39] - Water segment revenue decreased 2% year-over-year, with gross profit decreasing 8% to $9 million, resulting in a gross profit margin of 9% [41] - Specialty segment revenue increased 17% year-over-year to $156 million, with gross profit increasing 262% to $17 million, resulting in a gross profit margin of 11% [42] - Materials segment revenue increased 26% year-over-year to $63 million, with gross profit increasing to $2 million, resulting in a gross profit margin of just under 3% [43] Market Data and Key Metrics Changes - The bidding environment is strong with robust opportunities, resulting in an increase in bid volume year-over-year [23][24] - Transportation committed and awarded projects (CAP) decreased year-over-year due to a shift in the portfolio [25] - Water segment CAP remains strong at $339 million, not including a recently awarded $160 million project [28] Company Strategy and Development Direction - The company is focused on executing its strategic plan while managing the transition of its portfolio to reduce risk [54] - There is optimism regarding the funding environment, with expectations for a federal infrastructure bill to be signed into law [55] - The company is committed to enhancing its core values of safety and inclusion, which are integral to its operations [10][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's liquidity and cash position despite the $66 million securities litigation settlement [9] - The company anticipates low-to-mid single-digit revenue growth for the full fiscal year 2021 [49] - Management highlighted the importance of project execution and the favorable bidding environment as key drivers for future performance [78] Other Important Information - The company ended Q1 with cash and marketable securities of over $464 million, indicating strong cash management [47] - SG&A expenses increased to $76 million, which is 11.3% of revenue for the first quarter [50] Q&A Session Summary Question: Growth in CAP within Specialty and Water segments - Management anticipates that the Specialty segment will convert awarded work relatively quickly, particularly a significant tunnel project in Ohio [62] Question: Gross margin in Transportation segment - Management noted that favorable weather conditions and strong execution contributed to a 10% gross margin in the Transportation segment [64] Question: Competitive bidding environment - Management indicated a strong bidding environment with opportunities across the portfolio, while also being selective in pursuing larger projects [74] Question: Material segment performance - Management reported strong sales volumes and demand in both external and internal markets, with the ability to factor rising costs into pricing [94] Question: Overall bid pursuit pipeline - Management stated that the bid pipeline for projects under $150 million is up by approximately $400 million to $500 million compared to the previous year [103]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to su ...

GRANITE © 2021 Granite Construction. All Rights Reserved. Granite Construction Q1 | FY 2021 Earnings Conference Call Safe Harbor Any statements contained in this presentation that are not based on historical facts, including statements regarding future events, occurrences, circumstances, activities, performance, growth, demand, strategic plans, outcomes, outlook, guidance, backlog, Committed and Awarded Projects (CAP), and results, constitute forward-looking statements within the meaning of the Private Secu ...