On this page of StockholderLetter.com we present the latest annual shareholder letter from MATRIX SERVICE CO — ticker symbol MTRX. Reading current and past MTRX letters to shareholders can bring important insights into the investment thesis.

OUR PURPOSE. At Matrix, our purpose is to create long-term value for our employees, business partners, shareholders, and communities everywhere, improving quality of life through the work we do. To ful ll this purpose, we must be pro table, innovative, and growth-oriented, delivering our services safely, with high quality, and on time, resulting in strong customer relationships. THE MATRIX WAY. Foundational to our work and to inspiring our people is our commitment to living our core values. OUR CORE VALUES. SAFETY INTEGRITY STEWARDSHIP COMMUNITY INVOLVEMENT POSITIVE RELATIONSHIPS DELIVER THE BEST
A MESSAGE FROM OUR PRESIDENT & CEO. JOHN R. HEWITT Fiscal 2025 has been a pivotal year for Matrix. While nancial results did not meet the expectations we set at the beginning of the year, we made signi cant strides toward achieving pro tability despite temporary macroeconomic uncertainties and other isolated legacy issues currently being resolved. It is essential to look beyond the nancial We secured signi cant and strategic results to appreciate the progress achieved project awards, allowing us to maintain a and the fundamental strength in our business. near-record backlog of approximately $1.4 Consolidated direct gross margin across all business lines exceeded our expectations for the year, indicating improvements in both project execution and our ability to target and win projects that t our nancial and risk pro le. Quarter-over-quarter revenue improved signi cantly, with the fourth quarter showing a 31% increase compared to the beginning of the year. Overall, we billion. These awards are aligned with our core markets, including specialty storage for LNG, NGLs, and electrical infrastructure, much of which is tied to data center development and its associated power demands. Entering scal 2026, we have booked nearly 85% of our planned revenue, most of which is already in progress, positioning us well for strong revenue growth. experienced a 6% increase in revenue We also restructured our organizational compared to scal 2024. We anticipate that framework to ensure that Matrix is well- this positive trend will continue into scal prepared to win, execute, and deliver on 2026 and beyond. signi cant project opportunities available in
both current and new high-growth markets Maintaining a supportive work where our strong brand position, skill sets, environment to attract top talent, both and expertise are in high demand. These professional and skilled labor. opportunities, supported by ongoing multi-year megatrends that align with our long-term goals, offer both organic and inorganic growth prospects in scal 2026 and beyond. Speci cally, we streamlined our organization, closed underperforming business lines and offices, consolidated operational support services, restructured business development to better align with Pursuing growth opportunities that enhance our scalability and durability. Providing exceptional service to our clients and delivering consistent performance excellence across all operations, including safety, quality, timeliness, and nancial results. Maximizing technology solutions throughout the business. our core markets and growth objectives, and integrated our engineering and construction Creating value for all stakeholders. operations to enhance competitiveness, I am proud of what our team has market alignment, and delivery. accomplished in scal 2025 and even more LOOKING AHEAD. With strong momentum across our operations, we are entering a period of extended growth. Fiscal 2026 will be a critical year in our strategic journey, marked by revenue growth, a return to pro tability, and continued alignment with our strategic priorities. excited about the opportunities ahead as we enter a prolonged period of growth. By remaining disciplined, focusing on safety and quality, and continuing to improve our operations, I am con dent in our ability to drive growth and create long-term value for our stockholders as we successfully win, execute, and deliver. Given our solid nancial position, realigned organizational structure, robust backlog, and extensive opportunity pipeline, we are con dent in our ability to leverage the ongoing infrastructure investment cycle to transform Matrix into a scalable and resilient growth platform. In closing, I would like to express my gratitude to our employees for their dedication to continuous improvement and best-in-class service delivery, our longstanding clients for entrusting us with their critical infrastructure projects, and our stockholders for their ongoing investment Key to achieving these objectives will be our ongoing focus on: Ensuring a culture of safety both physical and mental as a fundamental business priority. in Matrix.
SHAREHOLDER INFORMATION CORPORATE OFFICES 15 E. 5th St., Ste. 1100 Tulsa, OK 74103 Phone: 918 838 8822 Fax: 918 838 8810 COMMON STOCK DATA Matrix Service Company s Common Stock is traded on NASDAQ Global Select Market under the Ticker Symbol: MTRX NOTICE OF ANNUAL MEETING The Annual Meeting of Stockholders will be virtual and held on November 4th, 2025 at 10:00 a.m. CT. To attend virtually please visit: VirtualShareholderMeeting.com/MTRX2025 INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS Deloitte & Touche LLP 6100 S. Yale Ave., Ste. 2010 Tulsa, OK 74136 STOCK TRANSFER AGENT & REGISTRAR Computershare Trust Company, N.A. 250 Royall St. Canton, MA 02021 WEBSITES MatrixServiceCompany.com MatrixPDM.com MatrixNAC.com MatrixService.com MatrixAppliedTech.com INVESTOR AND MEDIA RELATIONS, STOCKHOLDER RELATIONS & AVAILABLE INFORMATION Matrix Service Company s Annual Report on Form 10-K led with the Securities and Exchange Commission may be obtained by writing to: Kellie Smythe Senior Director, Investor Relations, Marketing & Communications Matrix Service Company 15 E. 5th St., Ste. 1100 Tulsa, OK 74103
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 • Benford's Law Stocks icon MTRX Benford's Law Stock Score = 73


MTRX Shareholder/Stockholder Letter Transcript:


OUR PURPOSE.
At Matrix, our purpose is to create long-term value for our
employees, business partners, shareholders, and communities
everywhere, improving quality of life through the work we do.
To ful   ll this purpose, we must be pro   table, innovative, and
growth-oriented, delivering our services safely, with high
quality, and on time, resulting in strong customer relationships.
THE MATRIX WAY.
Foundational to our work and
to inspiring our people is our
commitment to living our core values.
OUR CORE VALUES.
SAFETY
INTEGRITY
STEWARDSHIP
COMMUNITY
INVOLVEMENT
POSITIVE
RELATIONSHIPS
DELIVER
THE BEST

A MESSAGE
FROM OUR
PRESIDENT &
CEO.
JOHN R. HEWITT
Fiscal 2025 has been a pivotal year for Matrix. While    nancial results
did not meet the expectations we set at the beginning of the year, we
made signi   cant strides toward achieving pro   tability despite temporary
macroeconomic uncertainties and other isolated legacy issues currently
being resolved.
It is essential to look beyond the    nancial
    We secured signi   cant and strategic
results to appreciate the progress achieved
project awards, allowing us to maintain a
and the fundamental strength in our business.
near-record backlog of approximately $1.4
    Consolidated direct gross margin across all
business lines exceeded our expectations
for the year, indicating improvements in
both project execution and our ability to
target and win projects that    t our    nancial
and risk pro   le.
    Quarter-over-quarter revenue improved
signi   cantly, with the fourth quarter
showing a 31% increase compared to
the beginning of the year. Overall, we
billion. These awards are aligned with our
core markets, including specialty storage
for LNG, NGLs, and electrical infrastructure,
much of which is tied to data center
development and its associated power
demands.
Entering    scal 2026, we have booked nearly
85% of our planned revenue, most of which
is already in progress, positioning us well for
strong revenue growth.
experienced a 6% increase in revenue
We also restructured our organizational
compared to    scal 2024. We anticipate that
framework to ensure that Matrix is well-
this positive trend will continue into    scal
prepared to win, execute, and deliver on
2026 and beyond.
signi   cant project opportunities available in

both current and new high-growth markets
    Maintaining a supportive work
where our strong brand position, skill sets,
environment to attract top talent, both
and expertise are in high demand. These
professional and skilled labor.
opportunities, supported by ongoing
multi-year megatrends that align with our
long-term goals, offer both organic and
inorganic growth prospects in    scal 2026
and beyond.
Speci   cally, we streamlined our
organization, closed underperforming
business lines and offices, consolidated
operational support services, restructured
business development to better align with
    Pursuing growth opportunities that
enhance our scalability and durability.
    Providing exceptional service to our
clients and delivering consistent
performance excellence across all
operations, including safety, quality,
timeliness, and    nancial results.
    Maximizing technology solutions
throughout the business.
our core markets and growth objectives, and
integrated our engineering and construction
    Creating value for all stakeholders.
operations to enhance competitiveness,
I am proud of what our team has
market alignment, and delivery.
accomplished in    scal 2025 and even more
LOOKING AHEAD. With strong momentum
across our operations, we are entering a
period of extended growth. Fiscal 2026 will
be a critical year in our strategic journey,
marked by revenue growth, a return to
pro   tability, and continued alignment with
our strategic priorities.
excited about the opportunities ahead as
we enter a prolonged period of growth. By
remaining disciplined, focusing on safety
and quality, and continuing to improve our
operations, I am con   dent in our ability to
drive growth and create long-term value
for our stockholders as we successfully win,
execute, and deliver.
Given our solid    nancial position, realigned
organizational structure, robust backlog,
and extensive opportunity pipeline, we
are con   dent in our ability to leverage the
ongoing infrastructure investment cycle
to transform Matrix into a scalable and
resilient growth platform.
In closing, I would like to express my
gratitude to our employees for their
dedication to continuous improvement
and best-in-class service delivery, our longstanding clients for entrusting us with their
critical infrastructure projects, and our
stockholders for their ongoing investment
Key to achieving these objectives will be
our ongoing focus on:
    Ensuring a culture of safety   both
physical and mental   as a fundamental
business priority.
in Matrix.

SHAREHOLDER INFORMATION
CORPORATE OFFICES
15 E. 5th St., Ste. 1100
Tulsa, OK 74103
Phone: 918 838 8822
Fax: 918 838 8810
COMMON STOCK DATA
Matrix Service Company   s Common
Stock is traded on NASDAQ
Global Select Market under the
Ticker Symbol:    MTRX   
NOTICE OF ANNUAL MEETING
The Annual Meeting of Stockholders
will be virtual and held on
November 4th, 2025 at 10:00 a.m. CT.
To attend virtually please visit:
VirtualShareholderMeeting.com/MTRX2025
INDEPENDENT REGISTERED
PUBLIC ACCOUNTANTS
Deloitte & Touche LLP
6100 S. Yale Ave., Ste. 2010
Tulsa, OK 74136
STOCK TRANSFER AGENT & REGISTRAR
Computershare Trust Company, N.A.
250 Royall St.
Canton, MA 02021
WEBSITES
MatrixServiceCompany.com
MatrixPDM.com
MatrixNAC.com
MatrixService.com
MatrixAppliedTech.com
INVESTOR AND MEDIA RELATIONS,
STOCKHOLDER RELATIONS
& AVAILABLE INFORMATION
Matrix Service Company   s Annual Report
on Form 10-K    led with the Securities
and Exchange Commission may be
obtained by writing to:
Kellie Smythe
Senior Director, Investor Relations,
Marketing & Communications
Matrix Service Company
15 E. 5th St., Ste. 1100
Tulsa, OK 74103



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