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Retired Fluor Corporation Executive Jose Bustamante Named to Matrix Service Company Board of Directors

TULSA, Okla., May 16, 2022 – Matrix Service Company (Nasdaq: MTRX) Matrix Service Company (Nasdaq: MTRX) today announced the addition of Jose Luis Martin de Bustamante to the Company’s Board of Directors.

“We are excited to welcome Jose to the Matrix Service Company Board of Directors. His long-standing history of leadership at Fluor Corporation, together with his proven expertise in business development, contracting, and managing large, complex projects across a wide range of end-markets, will be invaluable as Matrix responds to growing opportunities,” said Chairman of the Board Jim Mogg.

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HENSEL PHELPS CONSTRUCTION COMPANY SELECTS MATRIX SERVICE FOR EPC OF THREE STORAGE TANKS TO EXPAND JET FUEL CAPACITY AT HOUSTON HOBBY AIRPORT

TULSA, Okla., May 10, 2022 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that its subsidiary, Matrix Service Inc., has been selected by Hensel Phelps Construction Company (“Hensel Phelps”) for the engineering, procurement, and construction (EPC) of three storage tanks for jet fuel at Houston Hobby Airport. The project is part of an expansion at an existing fuel facility and will add an additional 120,000 barrels in capacity.

Construction is expected to begin in early July 2022, with all three tanks in-service by late 2022.

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MATRIX SERVICE BEGINS CONSTRUCTION ON SMALL SCALE BORON FACILITY, THE FIRST NEW U.S. BASED SOURCE OF BORON PRODUCTION IN MORE THAN 50 YEARS

Facility precedes the construction of large-scale boron and lithium complex, providing critical and domestically sourced materials, key enablers for decarbonization applications

TULSA, Okla., May 09, 2022 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that its subsidiary, Matrix Service Inc. (“Matrix Service”) has begun construction on a Small-Scale Boron Facility (SSBF) for 5E Advanced Materials, Inc. in Newberry Springs, California.

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Matrix Service Company Reports Third Quarter Fiscal 2022 Results

TULSA, Okla., May 09, 2022 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading contractor to the energy and industrial markets across North America, today reported financial results for its third quarter of fiscal 2022.
Key highlights:

  • Project awards in the quarter of $179.7 million bring year-to-date awards to $638.7 million, an 81% increase
    compared to first nine months of the prior year, resulting in a book-to-bill of 1.3 year-to-date
  • Recent notable awards include thermal vacuum chambers, electrical infrastructure projects, construction of a borate mining facility, and early engineering for an LNG export terminal
  • Backlog increased to $594.2 million, an increase of 28% compared to the start of the fiscal year
  • Liquidity of $86.8 million and no debt
  • Third quarter revenue of $177.0 million and loss per fully diluted share of $1.30; adjusted loss per fully diluted
    share of $0.50(1) excluding one-time non-cash items

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MATRIX PDM ENGINEERING AWARDED EPC FOR EXPANSION OF NATURAL GAS PROCESSING FACILITY TO DOUBLE EXISTING FACILITY CAPACITY

TULSA, Okla., March 15, 2022 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading North American industrial engineering and construction company, announced that an industry leading company in the natural gas value chain has awarded Matrix PDM the engineering, procurement, and construction of the expansion of a natural gas processing facility to double existing facility capacity.

“North American natural gas infrastructure for gathering, processing, and transmission is critical to supporting both global energy demand and the clean energy transition, and we are pleased to support our client on this and other projects,” said Matrix Service Company President and Chief Executive Officer John R. Hewitt.

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MATRIX NAC AWARDED GREENFIELD CONSTRUCTION OF SUBSTATION BY CUMULUS DATA AS PART OF ITS CARBON-FREE SUSQUEHANNA HYPERSCALE DATA CENTER CAMPUS

Feb 8, 2022 at 6:30 AM EST

TULSA, Okla., Feb. 08, 2022 (GLOBE NEWSWIRE) Matrix Service Company (Nasdaq: MTRX) announced today that its subsidiary Matrix NAC has been awarded the greenfield construction of a substation as well as transmission and distribution work at Talen Energy Corporation (“Talen”) subsidiary, Cumulus Data’s (“Cumulus”), flagship Susquehanna data center campus, currently under construction outside Berwick, Pa. The up to 475 megawatt (MW) campus will be powered by Talen’s adjacent Susquehanna nuclear generation facility. The substation will support efforts to provide Susquehanna’s low-cost, reliable, carbon-free energy to the data center and cryptocurrency processing clients operating on the campus.

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