CULTIVATING OUR GREATEST ASSET 7 To maximize the value of our greatest asset— our people—we must hire the best, give them the right tools, and place them where they add the  most value to our clients and our shareholders.  We do this by providing: Achieving our goals is possible only when we have an unwavering commitment to quality and safety. Highly satisfied clients with safe projects give us more work. Employees contribute more when they are safe and can take personal pride in their jobs. Shareholders confidently invest when better, safer projects encourage repeat business. To achieve consistent, repeatable quality and safety excellence, we have a foundation of standards, procedures, and work practices that we tailor to meet the needs of specific clients, markets, and geographies. 2003 brings new challenges, and with them new possibilities to further expand our business and add shareholder value. With disciplined leadership and the strength of our employees, lasting client relationships, and investor confidence, we can transform challenging times into success. For our investors, we strive for average annual bottom-line growth of 15 percent. We must accomplish this in a stable, balanced manner to weather political and economic fluctuations of the kind we’ve seen in 2002. We focus on five broad strategies to achieve stable growth: PROVIDING STEADY GROWTH FOR SHAREHOLDERS FORGING AHEAD UPHOLDING OUR QUALITY AND SAFETY COMMITMENT • training programs that hone our employees’  technical, safety, business, management, and  leadership skills • customizable work process maps and best practices  that help our employees meet client needs • multi-domestic and work-sharing practices that  offer our employees both stable employment and  diverse career growth opportunities. • diversifying our markets for greater stability • smoothly integrating mergers and acquisitions • paying down debt as quickly as possible  • approaching risk intelligently. Selective Market Diversity Training Courses Total Trained Safety .................................................................... 43,932 Leadership .............................................................. 3,325 Discipline (management/technical) ...................... 6,821 • increasing our share of available work with each  client and in each of our markets Through Jacobs College and on-site training, we hone  our people’s skills in every aspect of our business. Increasing market diversity reduces the impact of industry cycles, stabilizes our operations, and grows our business. Federal  Programs 10% Buildings 9% High T ech 11% PharmaBio 3% Chemicals 32% Petroleum 35% 1992 Revenues: $1.1 Billion 2002 Revenues: $4.6 Billion Federal  Programs 21% Buildings 8% Pulp & Paper 2% Infrastructure 7% High Tech 4% PharmaBio 19% Chemicals 15% Petroleum 24%