Quanta executes on its balance sheet with the same focus that we have on project execution. This discipline provides a solid foundation to achieve our capital deployment priorities. In 2016, we completed stock repurchase activities that delivered significant value to stockholders. Overall, we reduced Quanta’s outstanding shares by a third, dramatically boosting our earnings-per-share potential.

• Capital Deployment Priorities
• Working Capital
• Capital Expenditures
• Acquisitions
• Investments
• Capital Return to Stockholders

Delivery on Our Commitment to Stockholder Value

From May 2014 to April 2016, we acquired 71.7 million shares, or 32% of our outstanding
common stock, for $1.7 billion at an average per share price of $23.72.

(1) A reconciliation of adjusted diluted earnings per share from continuing operations (a non-GAAP measure) is set forth herein.

---

(2) Liquidity includes cash and cash equivalents and availability under our revolving credit facility as described in our Form 10K.