Fluor, a leading engineering construction company, provides engineering, procurement, construction (EPC), maintenance and project management services worldwide.

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Fluor Announces Full Mandatory Conversion of Series A 6.50% Cumulative Perpetual Convertible Preferred Stock

Fluor Corporation (NYSE: FLR) (the “Company” or “Fluor”) announced today that it has exercised its mandatory conversion rights on its outstanding Series A 6.50% Cumulative Perpetual Convertible Preferred Stock (the “Preferred Stock”). All of the outstanding shares of Preferred Stock will automatically convert to shares of the Company’s common stock, $0.01 par value (“Common Stock”) plus a cash payment equal to the Mandatory Conversion Make-Whole Amount, effective September 27, 2023 (the “Mandatory Conversion Date”). For each share of Preferred Stock, holders of Preferred Stock will receive 44.9585 shares of Common Stock and a cash payment of $45.23 in respect of the Mandatory Conversion Make-Whole Amount. Fractional shares of Common Stock will be rounded up to the nearest whole share. All dividends on the Preferred Stock will cease to accumulate on the Mandatory Conversion Date, and no payment or adjustment shall be made upon conversion of Preferred Stock for accumulated dividends

Fluor Sells Stork European Business

Fluor Corporation (NYSE: FLR) announced today that it has agreed to sell its Stork business in Belgium, Germany, the Netherlands and its turbo blading manufacturing operation in the United States to industrial services provider Bilfinger SE. This divestiture advances Fluor’s strategic initiative to focus on its core businesses and capital priorities. This transaction is subject to consultations with and advice from the representative body of the applicable works councils, consultations with the trade unions and receipt of regulatory clearances along with other customary conditions and, subject to these conditions, is expected to be completed in the first half of 2024. Lazard is the financial advisor to Fluor on this transaction. About Fluor Corporation Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 40,000 employees provide professional and technical solutions that deliver safe,

Fluor Corporation Statement on SEC Settlement

Fluor Corporation (NYSE: FLR) announced today that the Company has entered into a settlement agreement with the U.S. Securities and Exchange Commission (“SEC”) resolving the previously disclosed SEC investigation of the Company. As reflected in the administrative Order (“Order”) filed by the SEC today, the investigation pertained to the Company’s accounting on two lump sum engineering, procurement and construction contracts. The Company settles the matter neither admitting nor denying the SEC’s findings in the Order. In connection with the settlement, the Company has agreed to pay a civil penalty of $14.5 million. The Company established reserves sufficient to fund the settlement during 2022 and expects no material earnings effect during 2023. The SEC’s investigation concerned two projects that are now largely completed and involved historical transactions that the Company restated in September 2020. As noted in the Order, the Company fully cooperated with the SEC in its investigation

Energy Transition

Fluor provides professional and technical solutions to deliver safe, well-executed, capital-efficient engineering, procurement and construction (EPC) projects to clients around the world.