MasTec, Inc. (MTZ)
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AGM 2021

May 20, 2021

Jorge Mas
Chairman of the Board, MasTec

Good morning, ladies and gentlemen. The 2021 Annual Meeting of Shareholders of MasTec is now called to order. I am Jorge Mas, Chairman of the Board of Directors of MasTec, and I cordially welcome you to today's meeting. We at MasTec are aware of the times in which we are living and the need to protect the health of our directors, executives, employees, shareholders, and the other people who help us conduct our annual meeting. While we would prefer to be in a position to conduct our annual meeting in person, as we traditionally have in the past, we are very pleased that our shareholders can participate in our virtual annual meeting. You may submit any questions at any time during the annual meeting using the field provided for questions in the web portal. We very much look forward to returning to an in-person format for our 2022 Annual Meeting.

I would like now to take a moment to introduce the other directors of the company, who are present both physically and virtually: José Mas, who is our Chief Executive Officer; Bob Campbell; Ernie Csiszar; Bob Dwyer; Julia Johnson; and Javier Palomares. In addition to José , I would like to introduce the other executive officers of the company who are present with me here today. Bob Apple, our Chief Operating Officer; George Pita, our Executive Vice President and Chief Financial Officer; and Albert de Cárdenas, our Executive Vice President, General Counsel, and Secretary. On behalf of all of our shareholders, I would like to thank the directors and the management team for their contributions to MasTec, particularly in the environment in which we are currently operating.

Also with us today are representatives from our independent registered public accounting firm, BDO USA, and they are available to answer questions from shareholders after we complete the business portion of the meeting. This meeting is convened pursuant to notice dated April 7th, 2021, to all shareholders of record as of the close of business on March 15th, 2021. Albert de Cárdenas, inspector of elections, will now give his report. Albert?

Alberto de Cárdenas
EVP, General Counsel, and Secretary, MasTec

Thank you, Mr. Chairman. Mr. Chairman, I have an affidavit of a manager at Broadridge Financial Solutions that a notice of internet availability of proxy materials was sent on or about April 7th, 2021, to each shareholder of record as of March 15th, 2021. We have available at this meeting a certified list of these shareholders, which is available for inspection by any shareholder of record at the annual meeting website. For the close of business on the record date, there were 74,169,528 shares of common stock outstanding, and I have determined that a quorum is present for all matters to be voted on at the meeting.

Jorge Mas
Chairman of the Board, MasTec

Thank you, Albert. We have four matters to be voted on today, which are: One, the election of José Mas and Javier Palomares as Class II directors to serve until the 2024 annual meeting of shareholders, Two, the ratification of the appointment of BDO USA as our independent registered public accounting firm for the 2021 fiscal year. Three, the approval of a non-binding advisory resolution regarding the compensation of our named executive officers, which we refer to as a Say-on-Pay resolution, and four, the approval of the MasTec Amended and Restated 2013 Incentive Compensation Plan. Those shareholders who wish to vote during the meeting may vote using the annual meeting website and following the instructions found there.

As instructed in the proxy statement, our board of directors has recommended that our shareholders vote for each of the nominees for director, for the ratification of the appointment of BDO for the 2021 fiscal year, for the Say-on-Pay resolution, and for the MasTec Amended and Restated 2013 Incentive Compensation Plan. As there are no nominations for other candidates properly before the meeting, the nominations are hereby declared closed. There being no other proposals properly before the meeting, the polls are now open regarding each of the four proposals properly brought before the meeting and described in our proxy statement. Is there or is there any interest in anyone participating, whether or not you already submitted a proxy, who now wants to vote using the online meeting website? If yes, please proceed to submit your votes pursuant to the online meeting website.

If there's anyone still trying to submit votes, please say so using the field provided for in questions in the web portal. Seeing there's no one, the polls are now closed. Albert?

Alberto de Cárdenas
EVP, General Counsel, and Secretary, MasTec

As inspector of elections, I report that our shareholders have voted to elect José R. Mas and Javier Palomares to serve as class two directors for a three-year term, to ratify the appointment of BDO USA, LLP as our independent registered public accounting firm for the 2021 fiscal year, to approve on a non-binding advisory basis the compensation paid to our named executive officers, and finally to approve the MasTec, Inc. Amended and Restated 2013 Incentive Compensation Plan.

Jorge Mas
Chairman of the Board, MasTec

Thank you, Albert. Now that the business portion of the meeting has been concluded and there being no more business to attend to before the meeting, I declare the meeting adjourned. I'll make some brief remarks, and then I'll turn the meeting over to Jose Mas, our Chief Executive Officer, for further comments. Shareholders will then have an opportunity using the annual meeting website to ask questions directed to management or the company's auditors. On behalf of myself, Jose, the management of MasTec, I wanna number one thank all of the shareholders for your support in this year. To say that this past year has been difficult is an understatement.

I know that this has been a very difficult environment personally for many, and one of the things that I'm proudest of over this past year with MasTec is that we took a team member and employee attitude first to make sure that all of our team members are taken care of, that safety and health protocols are being followed, and also being very, very proud of the extreme work we did as we were an essential service during the pandemic. I am very happy of where MasTec is positioned today and what we've delivered. As a management team here, we remain committed to giving people a great environment to work, to continue striving to be the best at what we do. Again, today's just a day to say thank you for all of your work and efforts, and look forward to a wonderful 2021.

With that being said, I'd like to turn the call over to Jose.

José R. Mas
CEO, MasTec

So, good morning. Just to reiterate, really appreciate everybody's support in what was a very difficult 2020. The safety of our employees and the health of our employees was our main priority, and I think that we, we weathered it relatively well. We, we did have some people that got sick. We unfortunately had some people that did pass. But overall, I think we did a great job of making sure that the safety of our employees was paramount and top of mind. With that said, with all of the challenges that we faced in 2020, I think the market significantly changed, and I think we positioned ourselves for what we think is gonna be a very successful future.

So when you look at the challenges that the pandemic created, both in the connectivity of people and the ability of people to connect, both to their home internet, their business internet, their home cellular service, or their mobile cellular service, we play a huge role in being able to connect people. And we think as the business community changes and the demands of the business community changes over time, we're in a great position to help our customers deliver the best products.

You couple on that the changes, with our energy generation and what's gonna happen in the energy markets in the United States with the advent of things like electric vehicles and others, we're in a great position to really participate in what we think's gonna be a transformative time in our country, both from the generation of power, from renewables to other resources of power generation, to the transmission grid, to the distribution grid. We think we're in an incredible place. So while we've had to weather a tough storm, we think we couldn't have done a better job of positioning the company for long-term success. We're probably sitting on more opportunities today than we've ever faced as a company.

And with that, our job becomes all about execution and our delivery to execute on the opportunities that are in front of us and take advantage of them as best as we can. Again, just to thank everybody that's on the call today. I know we have our auditors on the call. We've got a lot of management on the call. Their efforts have not gone unnoticed in 2020. Again, it was a difficult year, and I think we did a remarkable job of coming together and really performing and succeeding on behalf of all of the constituents of MasTec, all of our team members, all of our shareholders. We were blessed to be in the position that we are today, and we look forward to what 2021 holds for us and, more importantly, the longer-term future. So again, thank you for being here.

We'd like to now open the floor for any questions that you may have. Please submit any questions using the fields provided for questions in the web portal, and then please give us a few minutes so that we can figure this out.

Alberto de Cárdenas
EVP, General Counsel, and Secretary, MasTec

Okay. There being currently no questions submitted. I'd like to again thank each of you for attending today's meeting and especially for your support for MasTec. I hope each of you and your families remain safe and well, and God bless you.

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