What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2026-08-04 compared with 2026-05-05 · 232 added, 230 removed, 758 unchanged (38% of the section changed)

4 unchanged sentences

(In thousands, except share information)

March 27, 2026 September 26, 2025

June 26, 2026 September 26, 2025

Current Assets:

2 unchanged sentences

Prepaid expenses and other 149,764 134,804

Investment in equity securities 6,198 —

Total current assets 5,089,522 4,359,319

28 unchanged sentences

Common stock, $ 1 par value, authorized - 240,000,000 shares;

issued and outstanding - 118,190,953 shares and 119,081,294 shares as of March 27, 2026 and September 26, 2025, respectively

issued and outstanding - 117,132,889 shares and 119,081,294 shares as of June 26, 2026 and September 26, 2025, respectively

117,133 119,081

10 unchanged sentences

CONSOLIDATED STATEMENTS OF EARNINGS

Three and Six Months Ended March 27, 2026 and March 28, 2025

Three and Nine Months Ended June 26, 2026 and June 27, 2025

(In thousands, except per share information)

For the Three Months Ended For the Six Months Ended

March 27, 2026 March 28, 2025 March 27, 2026 March 28, 2025

For the Three Months Ended For the Nine Months Ended

June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025

Revenues $ 4,076,410 $ 3,031,768 $ 11,064,572 $ 8,875,139

2 unchanged sentences

Selling, general and administrative expenses ( 524,000 ) ( 523,396 ) ( 1,932,758 ) ( 1,565,942 )

Operating (loss) profit ( 81,176 ) 208,648 151,385 417,066

Operating Profit 286,703 235,014 438,088 652,079

Other Income (Expense):

5 unchanged sentences

— — — ( 20,510 )

Miscellaneous expense ( 17,656 ) ( 103,260 ) ( 17,370 ) ( 233,367 )

Total other expense, net

( 49,430 ) ( 152,825 ) ( 75,769 ) ( 308,095 )

(Loss) Earnings from Continuing Operations Before Taxes ( 130,606 ) 55,823 75,616 108,971

Income Tax Benefit (Expense) from Continuing Operations 45,088 ( 50,576 ) ( 28,021 ) ( 107,725 )

Net (Loss) Earnings of the Group from Continuing Operations ( 85,518 ) 5,247 47,595 1,246

Miscellaneous income (expense), net 890 38,844 ( 16,480 ) ( 194,523 )

Total other (expense) income, net ( 45,456 ) 10,090 ( 121,226 ) ( 298,006 )

Earnings from Continuing Operations Before Taxes 241,247 245,104 316,862 354,073

Income Tax Expense from Continuing Operations ( 104,635 ) ( 53,752 ) ( 132,656 ) ( 161,477 )

Net Earnings of the Group from Continuing Operations 136,612 191,352 184,206 192,596

Net Loss of the Group from Discontinued Operations, net of tax ( 806 ) ( 1,629 ) ( 3,142 ) ( 8,180 )

Net (Loss) Earnings of the Group ( 88,408 ) ( 303 ) 45,259 ( 5,305 )

Net Loss Attributable to Noncontrolling Interests from Continuing Operations 10,863 11,731 8,423 5,651

Net Loss (Earnings) Attributable to Redeemable Noncontrolling Interests 31,662 ( 5,816 ) 25,943 ( 12,863 )

Net (Loss) Earnings Attributable to Jacobs from Continuing Operations ( 42,993 ) 11,162 81,961 ( 5,966 )

Net Earnings of the Group 135,806 189,723 181,064 184,416

Net Loss (Earnings) Attributable to Noncontrolling Interests from Continuing Operations 747 ( 4,442 ) 9,170 1,209

Net (Earnings) Loss Attributable to Redeemable Noncontrolling Interests — ( 5,676 ) 25,943 ( 18,539 )

Net Earnings Attributable to Jacobs from Continuing Operations 137,359 181,234 219,319 175,266

Net Loss Attributable to Jacobs from Discontinued Operations ( 806 ) ( 1,629 ) ( 3,142 ) ( 8,180 )

Net (Loss) Earnings Attributable to Jacobs $ ( 45,883 ) $ 5,612 $ 79,625 $ ( 12,517 )

Net Earnings Attributable to Jacobs $ 136,553 $ 179,605 $ 216,177 $ 167,086

Net Earnings Per Share:

Basic Net (Loss) Earnings from Continuing Operations Per Share $ ( 0.32 ) $ 0.10 $ 0.81 $ —

Basic (Loss) from Discontinuing Operations Per Share $ ( 0.02 ) $ ( 0.05 ) $ ( 0.02 ) $ ( 0.05 )

Basic (Loss) Earnings Per Share $ ( 0.34 ) $ 0.06 $ 0.79 $ ( 0.05 )

Diluted Net (Loss) Earnings from Continuing Operations Per Share $ ( 0.32 ) $ 0.10 $ 0.81 $ —

Diluted (Loss) from Discontinuing Operations Per Share $ ( 0.02 ) $ ( 0.05 ) $ ( 0.02 ) $ ( 0.05 )

Diluted (Loss) Earnings Per Share $ ( 0.34 ) $ 0.06 $ 0.79 $ ( 0.05 )

Basic Net Earnings from Continuing Operations Per Share $ 1.17 $ 1.56 $ 1.98 $ 1.54

Basic Net Loss from Discontinuing Operations Per Share $ ( 0.01 ) $ ( 0.01 ) $ ( 0.03 ) $ ( 0.07 )

Basic Earnings Per Share $ 1.16 $ 1.55 $ 1.95 $ 1.47

Diluted Net Earnings from Continuing Operations Per Share $ 1.16 $ 1.56 $ 1.96 $ 1.53

Diluted Net Loss from Discontinuing Operations Per Share $ ( 0.01 ) $ ( 0.01 ) $ ( 0.03 ) $ ( 0.07 )

Diluted Earnings Per Share $ 1.15 $ 1.55 $ 1.94 $ 1.46

See the accompanying Notes to Consolidated Financial Statements - Unaudited.

2 unchanged sentences

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

Three and Six Months Ended March 27, 2026 and March 28, 2025

Three and Nine Months Ended June 26, 2026 and June 27, 2025

(In thousands)

For the Three Months Ended For the Six Months Ended

March 27, 2026 March 28, 2025 March 27, 2026 March 28, 2025

Net (Loss) Earnings of the Group $ ( 88,408 ) $ ( 303 ) $ 45,259 $ ( 5,305 )

For the Three Months Ended For the Nine Months Ended

June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025

Net Earnings of the Group $ 135,806 $ 189,723 $ 181,064 $ 184,416

Other Comprehensive (Loss) Income:

4 unchanged sentences

Income Tax Benefit (Expense):

Foreign currency translation adjustments — 4,558 — 4,558

Cash flow hedges 160 856 748 1,107

Change in pension plan liabilities 3,116 ( 762 ) 983 ( 2,594 )

Income Tax (Expense) Benefit:

Income Tax Benefit:

3,276 4,652 1,731 3,071

Net Other Comprehensive (Loss) Income ( 16,949 ) 122,403 ( 22,222 ) 41,810

Net Comprehensive (Loss) Income of the Group ( 118,029 ) 51,871 39,986 ( 85,898 )

Net Loss Attributable to Noncontrolling Interests 10,863 11,731 8,423 5,651

Net Loss (Earnings) Attributable to Redeemable Noncontrolling Interests 31,662 ( 5,816 ) 25,943 ( 12,863 )

Net Comprehensive (Loss) Income Attributable to Jacobs $ ( 75,504 ) $ 57,786 $ 74,352 $ ( 93,110 )

Net Comprehensive Income of the Group 118,857 312,126 158,842 226,226

Net Loss (Earnings) Attributable to Noncontrolling Interests 747 ( 4,442 ) 9,170 1,209

Net (Earnings) Loss Attributable to Redeemable Noncontrolling Interests — ( 5,676 ) 25,943 ( 18,539 )

Net Comprehensive Income Attributable to Jacobs $ 119,604 $ 302,008 $ 193,955 $ 208,896

See the accompanying Notes to Consolidated Financial Statements - Unaudited.

2 unchanged sentences

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

For the Three Months Ended March 27, 2026 and March 28, 2025

For the Three Months Ended June 26, 2026 and June 27, 2025

(In thousands)

Common Stock Additional Paid-in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Total Jacobs Stockholders’ Equity Noncontrolling Interests Total Group Stockholders’ Equity

Balances at December 27, 2024 $ 122,912 $ 2,735,155 $ 2,179,509 $ ( 832,217 ) $ 4,205,359 $ 21,607 $ 4,226,966

Net earnings (loss) 5,612 — 5,612 ( 11,731 ) ( 6,119 )

Foreign currency translation adjustments — — — 64,040 64,040 — 64,040

Balances at March 28, 2025 $ 120,379 $ 2,699,690 $ 1,824,418 $ ( 780,043 ) $ 3,864,444 $ 8,716 $ 3,873,160

Net Earnings 179,605 179,605 4,442 184,047

Foreign currency translation adjustments, net of deferred taxes of $( 4,558 )

— — — 141,387 141,387 — 141,387

Pension plan liability, net of deferred taxes of $ 762

3 unchanged sentences

Dividends — — ( 39,731 ) — ( 39,731 ) — ( 39,731 )

Dividend in kind — — ( 159,266 ) — ( 159,266 ) — ( 159,266 )

Redeemable noncontrolling interests redemption value adjustment — — ( 59,540 ) — ( 59,540 ) — ( 59,540 )

5 unchanged sentences

Repurchases of equity securities ( 810 ) ( 18,185 ) ( 81,850 ) — ( 100,845 ) — ( 100,845 )

Balances at March 28, 2025

$ 120,379 $ 2,699,690 $ 1,824,418 $ ( 780,043 ) $ 3,864,444 $ 8,716 $ 3,873,160

Balances at December 26, 2025 $ 117,587 $ 2,678,370 $ 1,334,005 $ ( 686,062 ) $ 3,443,900 $ 4,331 $ 3,448,231

Balances at June 27, 2025

$ 119,705 $ 2,699,770 $ 1,660,186 $ ( 657,640 ) $ 3,822,021 $ 9,229 $ 3,831,250

Balances at March 27, 2026 $ 118,191 $ 2,927,178 $ 963,173 $ ( 715,683 ) $ 3,292,859 $ ( 8,370 ) $ 3,284,489

Net Earnings (Loss) — — 136,553 — 136,553 ( 747 ) 135,806

Foreign currency translation adjustments

5 unchanged sentences

Dividends — — ( 42,479 ) — ( 42,479 ) — ( 42,479 )

Redeemable Noncontrolling interests redemption value adjustment — — ( 63,823 ) — ( 63,823 ) — ( 63,823 )

Redemption of redeemable noncontrolling interests relating to the PA Consulting Transaction — — 315 — 315 — 315

3 unchanged sentences

Repurchases of equity securities ( 1,208 ) ( 29,910 ) ( 111,096 ) — ( 142,214 ) — ( 142,214 )

Balances at March 27, 2026 $ 118,191 $ 2,927,178 $ 963,173 $ ( 715,683 ) $ 3,292,859 $ ( 8,370 ) $ 3,284,489

Balances at June 26, 2026 $ 117,133 $ 2,933,533 $ 946,455 $ ( 732,632 ) $ 3,264,489 $ ( 13,841 ) $ 3,250,648

See the accompanying Notes to Consolidated Financial Statements – Unaudited.

2 unchanged sentences

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

For the Six Months Ended March 27, 2026 and March 28, 2025

For the Nine Months Ended June 26, 2026 and June 27, 2025

(In thousands)

1 unchanged sentence

Balances at September 27, 2024 $ 124,084 $ 2,758,064 $ 2,366,769 $ ( 699,450 ) $ 4,549,467 $ 17,836 $ 4,567,303

Net loss — — ( 12,517 ) — ( 12,517 ) ( 5,651 ) ( 18,168 )

Foreign currency translation adjustments — — — ( 96,108 ) ( 96,108 ) — ( 96,108 )

Net Earnings (Loss) — — 167,086 — 167,086 ( 1,209 ) 165,877

Foreign currency translation adjustments, net of deferred taxes of $( 4,558 )

— — — 45,279 45,279 — 45,279

Pension liability, net of deferred taxes of $ 2,594

3 unchanged sentences

Dividends — — ( 79,625 ) — ( 79,625 ) — ( 79,625 )

Dividend in kind ( 159,266 ) — ( 159,266 ) — ( 159,266 )

Redeemable noncontrolling interests redemption value adjustment — — ( 68,031 ) — ( 68,031 ) — ( 68,031 )

5 unchanged sentences

Repurchases of equity securities ( 4,991 ) ( 111,170 ) ( 537,086 ) — ( 653,247 ) — ( 653,247 )

Balances at March 28, 2025 $ 120,379 $ 2,699,690 $ 1,824,418 $ ( 780,043 ) $ 3,864,444 $ 8,716 $ 3,873,160

Balances at June 27, 2025 $ 119,705 $ 2,699,770 $ 1,660,186 $ ( 657,640 ) $ 3,822,021 $ 9,229 $ 3,831,250

Balances at September 26, 2025 $ 119,081 $ 2,706,376 $ 1,525,760 $ ( 710,410 ) $ 3,640,807 $ 7,098 $ 3,647,905

14 unchanged sentences

Repurchases of equity securities ( 4,597 ) ( 107,024 ) ( 502,437 ) — ( 614,058 ) — ( 614,058 )

Balances at March 27, 2026 $ 118,191 $ 2,927,178 $ 963,173 $ ( 715,683 ) $ 3,292,859 $ ( 8,370 ) $ 3,284,489

Balances at June 26, 2026 $ 117,133 $ 2,933,533 $ 946,455 $ ( 732,632 ) $ 3,264,489 $ ( 13,841 ) $ 3,250,648

See the accompanying Notes to Consolidated Financial Statements – Unaudited.

2 unchanged sentences

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Six Months Ended March 27, 2026 and March 28, 2025

For the Nine Months Ended June 26, 2026 and June 27, 2025

(In thousands)

For the Six Months Ended

March 27, 2026 March 28, 2025

For the Nine Months Ended

June 26, 2026 June 27, 2025

Cash Flows from Operating Activities:

Net Earnings (Loss) of the Group $ 45,259 $ ( 5,305 )

Adjustments to reconcile net earnings (loss) to net cash flows (used for) provided by operations:

Net Earnings of the Group $ 181,064 $ 184,416

Adjustments to reconcile net earnings to net cash flows provided by operations:

Depreciation and amortization:

2 unchanged sentences

Loss on extinguishment of debt — 20,510

Loss on investment in equity securities — 254,677

(Gain) loss on investment in equity securities ( 6,198 ) 227,305

Stock based compensation 56,882 47,421

10 unchanged sentences

Other, net 10,703 ( 16,983 )

Net cash (used for) provided by operating activities

( 103,361 ) 11,025

Net cash provided by operating activities 352,758 303,619

Cash Flows from Investing Activities:

14 unchanged sentences

Net dividends associated with noncontrolling interests ( 11,743 ) ( 7,440 )

Repurchase of redeemable noncontrolling interests ( 883,623 ) ( 4,066 )

Net cash provided by financing activities

392,006 106,634

Repurchase of redeemable noncontrolling interests and related costs ( 917,591 ) ( 8,472 )

Cash Impact from distribution of SpinCo Business

Net cash used for financing activities ( 335,168 ) ( 126,169 )

Effect of Exchange Rate Changes ( 8,575 ) 17,990

Net Increase in Cash and Cash Equivalents and Restricted Cash 251,596 58,543

Net (decrease) increase in Cash and Cash Equivalents and Restricted Cash ( 47,839 ) 149,049

Cash and Cash Equivalents, including Restricted Cash, at the Beginning of the Period 1,236,816 1,146,931

19 unchanged sentences

Readers of this Quarterly Report on Form 10-Q should also read our consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended September 26, 2025 (“2025 Form 10-K”).

In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of our consolidated financial statements as of March 27, 2026, and for the three and six months ended March 27, 2026.

In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of our consolidated financial statements as of June 26, 2026, and for the three and nine months ended June 26, 2026.

Our interim results of operations are not necessarily indicative of the results to be expected for the full fiscal year.

5 unchanged sentences

The Company acquired the PA Shares for an aggregate initial consideration of approximately £ 1.21 billion which was paid through a combination of approximately £ 997.6 million in cash (net of certain PA Consulting shareholder expenses) and 2,043,537 newly issued shares of Jacobs' common stock, par value $ 1.00 per share (“Company Common Stock”).

Also, on March 20, 2028, the Company will pay an additional £ 75 million in consideration with shares of Company Common Stock, cash or a combination thereof (as determined by the Company in its sole discretion), with accruals associated with this additional consideration reflected in Other deferred liabilities on the Consolidated Balance Sheet as of March 27, 2026.

Also, in accordance with the terms of the Implementation Deed, in fiscal 2028, the Company is obligated to pay an additional £ 75 million in consideration with shares of Company Common Stock, cash or a combination thereof (as determined by the Company in its sole discretion), with accruals associated with this additional consideration reflected in Other deferred liabilities on the Consolidated Balance Sheet as of June 26, 2026.

The transactions described in this paragraph, are collectively referred to as the “PA Consulting Transaction”.

38 unchanged sentences

New Accounting Pronouncements

ASU 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818), clarifies the accounting treatment and reporting standards of environmental credits and environmental credit obligations.

The amendments in this update are effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods, with early adoption permitted.

ASU 2026-02 will be effective for the Company in first quarter of fiscal 2029.

The Company is evaluating the impact of this guidance on its consolidated financial statements and related disclosures.

ASU 2025-12, Accounting Standards Codification ("Codification") Improvements, represents changes to the Codification that clarify, correct errors or make minor improvements to U.S.

1 unchanged sentence

ASU 2025-12 will be effective for the Company in first quarter of fiscal 2028.

The Company is evaluating the impact of this guidance on its consolidated financial statements and related disclosures.

The Company does not expect that the application of this standard will have a material impact on its consolidated financial statements and related disclosures.

ASU 2025-11, Interim Reporting (Topic 270):

13 unchanged sentences

ASU 2025-05 will be effective for the Company in first quarter of fiscal 2027.

The Company is evaluating the impact of this guidance on its consolidated financial statements and related disclosures.

The Company does not expect that the application of this standard will have a material impact on its consolidated financial statements and related disclosures.

ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810):

3 unchanged sentences

ASU 2025-03 will be effective for the Company in the first quarter of fiscal 2028.

The Company is evaluating the impact of this guidance on its consolidated financial statements and related disclosures.

ASU 2024-03, Income Statement (Subtopic 220-40):

11 unchanged sentences

Improvements to Income Tax Disclosures , provides qualitative and quantitative updates to the Company's effective income tax rate reconciliation and income taxes paid disclosures, among others, in order to enhance the transparency of income tax disclosures, including consistent categories and greater disaggregation of information in the rate reconciliation and disaggregation by jurisdiction of income taxes paid.

The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024, with early adoption permitted.

The amendments should be applied prospectively;

however, retrospective application is also permitted.

ASU 2023-09 will be effective for the Company in the fourth quarter of fiscal 2026 .

The Company is evaluating the impact of this guidance on its consolidated financial statements and related disclosures.

The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024.

ASU 2023-09 will be effective for the Company in the fourth quarter of fiscal 20 26 and we plan to adopt the standard on a prospective basis.

This ASU will impact our income tax disclosures, but not our financial position or results of operations.

ASU 2023-06, Disclosure Improvements:

19 unchanged sentences

Refer to Note 18- Segment Information for additional information on how we disaggregate our revenues by reportable segment.

The following table further disaggregates our revenue by geographic area for the three and six months ended March 27, 2026 and March 28, 2025 (in thousands):

Three Months Ended Six Months Ended

March 27, 2026 March 28, 2025 March 27, 2026 March 28, 2025

The following table further disaggregates our revenue by geographic area for the three and nine months ended June 26, 2026 and June 27, 2025 (in thousands):

Three Months Ended Nine Months Ended

June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025

United States $ 2,808,323 $ 1,862,762 $ 7,311,029 $ 5,471,774

8 unchanged sentences

Contract liabilities represent amounts billed to clients in excess of revenue recognized to date.

Revenue recognized for the three and six months ended March 27, 2026 that was previously included in the contract liability balance on September 26, 2025 was $ 169.6 million and $ 618.4 million, respectively.

Revenue recognized for the three and six months ended March 28, 2025 that was included in the contract liability balance on September 27, 2024 was $ 172.2 million and $ 583.0 million, respectively.

Revenue recognized for the three and nine months ended June 26, 2026 that was previously included in the contract liability balance on September 26, 2025 was $ 86.2 million and $ 704.6 million, respectively.

Revenue recognized for the three and nine months ended June 27, 2025 that was included in the contract liability balance on September 27, 2024 was $ 97.0 million and $ 680.0 million, respectively.

JACOBS SOLUTIONS INC.

2 unchanged sentences

Remaining Performance Obligations

The Company’s remaining performance obligations as of March 27, 2026 represent a measure of the total dollar value of work to be performed on contracts awarded and in progress.

The Company had approximately $ 19.0 billion in remaining performance obligations as of March 27, 2026.

The Company’s remaining performance obligations as of June 26, 2026 represent a measure of the total dollar value of work to be performed on contracts awarded and in progress.

The Company had approximately $ 22.2 billion in remaining performance obligations as of June 26, 2026.

The Company expects to recognize approximately 45 % of its remaining performance obligations into revenue within the next twelve months and the remaining 55 % thereafter.

12 unchanged sentences

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)

The following table reconciles the numerator and denominator used to compute basic EPS to the numerator and denominator used to compute diluted EPS for the three and six months ended March 27, 2026 and March 28, 2025 (in thousands):

Three Months Ended Six Months Ended

March 27, 2026 March 28, 2025 March 27, 2026 March 28, 2025

The following table reconciles the numerator and denominator used to compute basic EPS to the numerator and denominator used to compute diluted EPS for the three and nine months ended June 26, 2026 and June 27, 2025 (in thousands):

Three Months Ended Nine Months Ended

June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025

Numerator for Basic and Diluted EPS:

Net (Loss) Earnings Attributable to Jacobs from Continuing Operations $ ( 42,993 ) $ 11,162 $ 81,961 $ ( 5,966 )

Net Earnings Attributable to Jacobs from Continuing Operations $ 137,359 $ 181,234 $ 219,319 $ 175,266

Redeemable Noncontrolling interests redemption value adjustment (See Note 15- PA Consulting Redeemable Noncontrolling Interests )

— 6,605 13,480 12,417

Net (Loss) Earnings from continuing operations allocated to common stock for EPS calculation $ ( 37,201 ) $ 12,406 $ 95,441 $ ( 154 )

Net Earnings from continuing operations allocated to common stock for EPS calculation $ 137,359 $ 187,839 $ 232,799 $ 187,683

Net Loss from discontinued operations allocated to common stock for EPS calculation $ ( 806 ) $ ( 1,629 ) $ ( 3,142 ) $ ( 8,180 )

Net (Loss) Earnings allocated to common stock for EPS calculation $ ( 40,091 ) $ 6,856 $ 93,105 $ ( 6,705 )

Net Earnings allocated to common stock for EPS calculation $ 136,553 $ 186,210 $ 229,657 $ 179,503

Denominator for Basic and Diluted EPS:

4 unchanged sentences

Net Earnings Per Share:

Basic Net (Loss) Earnings from Continuing Operations Per Share $ ( 0.32 ) $ 0.10 $ 0.81 $ —

Basic Net Earnings from Continuing Operations Per Share $ 1.17 $ 1.56 $ 1.98 $ 1.54

Basic Net Loss from Discontinuing Operations Per Share $ ( 0.01 ) $ ( 0.01 ) $ ( 0.03 ) $ ( 0.07 )

Basic (Loss) Earnings Per Share $ ( 0.34 ) $ 0.06 $ 0.79 $ ( 0.05 )

Diluted Net (Loss) Earnings from Continuing Operations Per Share $ ( 0.32 ) $ 0.10 $ 0.81 $ —

Diluted Net (Loss) from Discontinuing Operations Per Share $ ( 0.02 ) $ ( 0.05 ) $ ( 0.02 ) $ ( 0.05 )

Diluted (Loss) Earnings Per Share $ ( 0.34 ) $ 0.06 $ 0.79 $ ( 0.05 )

Basic Earnings Per Share $ 1.16 $ 1.55 $ 1.95 $ 1.47

Diluted Net Earnings from Continuing Operations Per Share $ 1.16 $ 1.56 $ 1.96 $ 1.53

Diluted Loss from Discontinuing Operations Per Share $ ( 0.01 ) $ ( 0.01 ) $ ( 0.03 ) $ ( 0.07 )

Diluted Earnings Per Share $ 1.15 $ 1.55 $ 1.94 $ 1.46

Per share amounts may not add due to rounding.

(1) For the three months ended March 27, 2026 and the six months ended March 28, 2025, because net (loss) earnings from continuing operations was a loss, the effect of antidilutive securities of 292 and 472 , respectively, was excluded from the denominator in calculating diluted EPS.

JACOBS SOLUTIONS INC.

4 unchanged sentences

By the end of the second fiscal quarter of 2025, the Company had repurchased the full amount of common stock authorized under the 2023 Repurchase Authorization.

On January 30, 2025, the Company's Board of Directors authorized an incremental share repurchase program of up to $ 1.5 billion of the Company's common stock, to expire on January 30, 2028 (the "2025 Repurchase Authorization").

At March 27, 2026, the Company had $ 746.4 million remaining under the 2025 Repurchase Authorization.

The following table summarizes repurchase ac tivity for fiscal 2026 u nder the 2025 Repurchase Authorization through the second fiscal quarter of 2026 :

On January 30, 2025, the Company's Board of Directors authorized an incremental share repurchase program of up to $ 1.5 billion of the Company's common stock (exclusive of any related taxes, fees or similar expenses), to expire on January 30, 2028 (the "2025 Repurchase Authorization").

At June 26, 2026, the Company had $ 618.8 million remaining under the 2025 Repurchase Authorization.

The following table summarizes repurchase ac tivity for fiscal 2026 u nder the 2025 Repurchase Authorization through the third fiscal quarter of 2026 :

Amount Authorized

8 unchanged sentences

Cash Dividends

On April 30, 2026, the Company’s Board of Directors declared a quarterly dividend of $ 0.36 per share of the Company’s common stock to be paid on June 19, 2026, to shareholders of record on the close of business on May 22, 2026.

On July 30, 2026, the Company’s Board of Directors declared a quarterly dividend of $ 0.36 per share of the Company’s common stock to be paid on September 18, 2026, to shareholders of record on the close of business on August 21, 2026.

Future dividend declarations are subject to review and approval by the Company’s Board of Directors.

Dividends paid through the second fiscal quarter of 2026 and the preceding fiscal year are as follows:

Dividends paid through the third fiscal quarter of 2026 and the preceding fiscal year are as follows:

Declaration Date Record Date Payment Date Cash Amount (per share)

April 30, 2026 May 22, 2026 June 19, 2026 $ 0.36

January 29, 2026 February 20, 2026 March 20, 2026 $ 0.36

8 unchanged sentences

Goodwill and Intangibles

The carrying value of goodwill appearing in the accompanying Consolidated Balance Sheets at March 27, 2026 and September 26, 2025 was as follows (in thousands):

The carrying value of goodwill appearing in the accompanying Consolidated Balance Sheets at June 26, 2026 and September 26, 2025 was as follows (in thousands):

Infrastructure & Advanced Facilities PA Consulting Total

1 unchanged sentence

Foreign currency translation adjustments and other ( 2,727 ) ( 21,630 ) ( 24,357 )

Balance March 27, 2026 $ 3,348,512 $ 1,414,750 $ 4,763,262

The following table provides certain information related to the Company’s acquired intangibles in the accompanying Consolidated Balance Sheets at March 27, 2026 and September 26, 2025 (in thousands):

Balance June 26, 2026 $ 3,348,763 $ 1,407,698 $ 4,756,461

The following table provides certain information related to the Company’s acquired intangibles in the accompanying Consolidated Balance Sheets at June 26, 2026 and September 26, 2025 (in thousands):

Customer Relationships, Contracts and Backlog Developed Technology Trade Names Total

2 unchanged sentences

Foreign currency translation adjustments and other ( 5,500 ) ( 6 ) ( 2,454 ) ( 7,960 )

Balance March 27, 2026 $ 458,173 $ 14,145 $ 167,696 $ 640,014

Balance June 26, 2026 $ 428,811 $ 12,226 $ 163,162 $ 604,199

The following table presents estimated amortization expense of intangible assets for the remainder of fiscal 2026 and for the succeeding years.

6 unchanged sentences

Receivables and Contract Assets

The following table presents the components of receivables and contract assets appearing in the accompanying Consolidated Balance Sheets at March 27, 2026 and September 26, 2025, as well as certain other related information (in thousands):

March 27, 2026 September 26, 2025

The following table presents the components of receivables and contract assets appearing in the accompanying Consolidated Balance Sheets at June 26, 2026 and September 26, 2025, as well as certain other related information (in thousands):

June 26, 2026 September 26, 2025

Components of receivables and contract assets:

10 unchanged sentences

Accumulated Other Comprehensive Income (Loss)

The following table presents the Company's roll forward of accumulated other comprehensive loss after-tax as of March 27, 2026 (in thousands):

The following table presents the Company's roll forward of accumulated other comprehensive loss after-tax as of June 26, 2026 (in thousands):

Change in Net Pension Obligation Foreign Currency Translation Adjustments

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Reclassifications from accumulated other comprehensive loss 1,048 — ( 5,178 ) ( 4,130 )

Balance at March 27, 2026

Balance at June 26, 2026

$ ( 368,337 ) $ ( 398,581 ) $ 34,286 $ ( 732,632 )

( 1) Included in the Company’s cumulative net unrealized gains from interest rate and cross currency swaps recorded in accumulated other comprehensive loss as of March 27, 2026 were approximately $ 6.5 million in unrealized gains, net of taxes, which are expected to be realized in earnings during the twelve months subsequent to March 27, 2026.

( 1) Included in the Company’s cumulative net unrealized gains from interest rate and cross currency swaps recorded in accumulated other comprehensive loss as of June 26, 2026 were approximately $ 6.8 million in unrealized gains, net of taxes, which are expected to be realized in earnings during the twelve months subsequent to June 26, 2026.

JACOBS SOLUTIONS INC.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)

The Company’s effective tax rates from continuing operations for the three months ended March 27, 2026 and March 28, 2025 were 34.5 % and 90.6 %, respectively.

The Company’s effective tax rates from continuing operations for the three months ended June 26, 2026 and June 27, 2025 were 43.4 % and 21.9 %, respectively.

Significant items contributing to differences between the statutory U.S.

federal corporate tax rate of 21.0% and the Company's effective tax rate for the three-month period ended March 27, 2026 included $ 13.0 million related to non-deductible incentive compensation associated with the Company's PA Consulting investment and $ 3.0 million of U.S.

state income taxes.

federal corporate tax rate of 21.0% and the Company's effective tax rate for the three-month period ended June 26, 2026 included $ 35.8 million of non-deductible expenses associated with the PA Consulting Transaction on March 20, 2026, $ 9.9 million of U.S.

state income taxes and $ 6.3 million of U.S.

tax on foreign earnings.

These items are expected to have a continuing impact on the Company's effective tax rate for the remainder of the fiscal year.

The most significant items contributing to the difference between the statutory U.S.

federal corporate tax rate of 21.0% and the Company's effective tax rate of 90.6 % for the three-month period ended March 28, 2025 were related to $ 33.1 million in unfavorable tax impacts associated with the non-deductibility of losses from the Company's former investment in Amentum stock, as well as U.S.

state income tax expense of $ 4.0 million and U.S.

tax on foreign earnings of $ 4.5 million.

The Company’s effective tax rates from continuing operations for the six months ended March 27, 2026 and March 28, 2025 were 37.1 % and 98.9 %, respectively.

federal corporate tax rate of 21.0% and the Company's effective tax rate of 21.9 % for the three-month period ended June 27, 2025 were related to U.S.

state income tax expense and U.S.

tax on foreign earnings, partly offset by additional research and development credits claimed on the U.S.

federal tax return.

The Company’s effective tax rates from continuing operations for the nine months ended June 26, 2026 and June 27, 2025 were 41.9 % and 45.6 %, respectively.

Significant items contributing to the difference between the statutory U.S.

federal corporate tax rate of 21.0% and the Company's effective tax rate for the six-month period ended March 27, 2026 included unfavorable tax impacts of $ 7.5 million related to non-deductible incentive compensation associated with the Company's PA Consulting investment, as mentioned above, as well as $ 3.4 million related to other non-deductible expenses arising from the PA Consulting Transaction on March 20, 2026.

federal corporate tax rate of 21.0% and the Company's effective tax rate for the nine-month period ended June 26, 2026 included unfavorable tax impacts of $ 47.0 million of non-deductible expenses associated with the PA Consulting Transaction on March 20, 2026, $ 12.7 million of U.S.

state income taxes and $ 9.0 million of U.S.

tax on foreign earnings.

These items are expected to have a continuing impact on the Company's effective tax rate for the remainder of the fiscal year.

The most significant item contributing to the difference between the statutory U.S.

federal corporate tax rate of 21.0% and the Company's effective tax rate of 98.9 % for the six-month period ended March 28, 2025 were related to $ 70.1 million in unfavorable tax impacts associated with the non-deductibility of losses from the Company's former investment in Amentum stock, as well as U.S.

state income tax expense of $ 9.4 million and U.S.

tax on foreign earnings of $ 9.4 million.

federal corporate tax rate of 21% and the Company's effective tax rate of 45.6 % for the nine-month period ended June 27, 2025 were related to $ 63.1 million in unfavorable tax impacts associated with the non-deductibility of losses from the Company's investment in Amentum stock, as well as U.S.

state income tax expense and U.S.

tax on foreign earnings, partly offset by additional research and development credits claimed on the U.S.

federal tax return.

On July 4, 2025, H.R.

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Joint Ventures, VIEs and Other Investments

For the Company's consolidated variable interest entities ("VIE") joint ventures, the carrying value of assets and liabilities was $ 119.7 million and $ 132.9 million , respectively, as of March 27, 2026 and $ 163.4 million and $ 144.7 million, respectively, as of September 26, 2025.

For the Company's consolidated variable interest entities ("VIE") joint ventures, the carrying value of assets and liabilities was $ 104.0 million and $ 129.1 million, respectively, as of June 26, 2026 and $ 163.4 million and $ 144.7 million, respectively, as of September 26, 2025.

There are no consolidated VIEs that have debt or credit facilities.

For the Company's proportionate consolidated VIEs, the carrying value of assets and liabilities was $ 159.3 million and $ 147.2 million , respectively, as of March 27, 2026, and $ 143.9 million and $ 131.9 million, respectively, as of September 26, 2025.

For the Company's proportionate consolidated VIEs, the carrying value of assets and liabilities was $ 151.5 million and $ 127.4 million, respectively, as of June 26, 2026, and $ 143.9 million and $ 131.9 million, respectively, as of September 26, 2025.

JACOBS SOLUTIONS INC.

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The carrying values of our investments in equity method joint ventures in the Consolidated Balance Sheets (reported in Other Noncurrent Assets:

Miscellaneous) as of March 27, 2026 and September 26, 2025 were $ 38.4 million and $ 36.3 million, respectively.

Additionally, net income (loss) from equity method joint ventures (reported in Revenue) was $ 2.6 million and $( 0.2 ) million, respectively, during the three months ended March 27, 2026 and March 28, 2025, with $ 6.8 million and $ 3.5 million respectively, for the corresponding six month periods.

As of March 27, 2026, the Company's equity method investment carrying values do not include material amounts exceeding their share of the respective joint ventures' reported net assets.

Accounts receivable from unconsolidated joint ventures accounted for under the equity method was $ 15.6 million and $ 13.6 million as of March 27, 2026 and September 26, 2025, respectively.

At March 27, 2026 and September 26, 2025, long-term debt consisted of the following (principal amounts in thousands):

Interest Rate Maturity March 27, 2026 September 26, 2025

Miscellaneous) as of June 26, 2026 and September 26, 2025 were $ 40.6 million and $ 36.3 million, respectively.

Additionally, net income from equity method joint ventures (reported in Revenue) was $ 2.6 million and $ 2.6 million, respectively, during the three months ended June 26, 2026 and June 27, 2025, with $ 9.5 million and $ 6.1 million respectively, for the corresponding nine month periods.

As of June 26, 2026, the Company's equity method investment carrying values do not include material amounts exceeding their share of the respective joint ventures' reported net assets.

Accounts receivable from unconsolidated joint ventures accounted for under the equity method was $ 40.9 million and $ 13.6 million as of June 26, 2026 and September 26, 2025, respectively.

At June 26, 2026 and September 26, 2025, long-term debt consisted of the following (principal amounts in thousands):

Interest Rate Maturity June 26, 2026 September 26, 2025

JSI Revolving Credit Facility Benchmark + applicable margin (1)

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dollar denominated borrowings under the JSI Revolving Credit Facility (as defined below) bear interest at either a SOFR rate plus a margin of between 0.875 % and 1.625 % or a base rate plus a margin of between 0 % and 0.625 % depending on the Company’s Consolidated Leverage Ratio or Debt Rating (each as defined in the JSI Revolving Credit Facility).

The applicable SOFR rate, including applicable margins at March 27, 2026 was approximately 4.90 %.

The applicable SOFR rate including applicable margins at June 26, 2026 was approximately 4.99 %.

There were no amounts drawn as of June 26, 2026.

(2) The borrowings under the 2026 Term Loan Facility - three-year bear interest at either a SOFR rate plus a margin of between 0.750 % and 1.500 % or a base rate plus a margin of between 0 % and 0.500 % depending on the Company’s Consolidated Leverage Ratio or Debt Rating.

The applicable SOFR rate including applicable margins for borrowings denominated in U.S.

dollars at March 27, 2026 was approximately 4.80 %.

dollars at June 26, 2026 was approximately 4.89 %.

(3) The borrowings under the 2026 Term Loan Facility- five-year bear interest at either a SOFR rate plus a margin of between 0.875 % and 1.625 % or a base rate plus a margin of between 0 % and 0.625 % depending on the Company’s Consolidated Leverage Ratio or Debt Rating.

The applicable SOFR rate including applicable margins for borrowings denominated in U.S.

dollars at March 27, 2026 was approximately 4.93 %.

dollars at June 26, 2026 was approximately 5.01 %.

dollar denominated borrowings under the Revolving Credit Facility bore interest at either a SOFR rate plus a margin of between 0.975 % and 1.725 % or a base rate plus a margin of between 0 % and 0.625 % depending on the Company’s Consolidated Leverage Ratio or Debt Rating (each as defined in the Revolving Credit Facility (defined below)).

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We believe the carrying values of the JSI Revolving Credit Facility and the 2026 Term Loan Facility (as defined below) approximates fair value based on the interest rates and scheduled maturities applicable to the outstanding borrowings.

The following table presents the estimated fair value of each outstanding bond based on Level 2 inputs as of March 27, 2026 (in thousands):

Estimated Fair Value

The following table presents the estimated fair value of each outstanding bond based on Level 2 inputs as of June 26, 2026 (in thousands):

Bond Estimated Fair Value

5.9 % Bonds, due 2033

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However, on March 16, 2026 the Revolving Credit Facility was repaid and the JSI Revolving Credit Facility, a new revolving credit facility, was established (see below).

On March 16, 2026, the Company, JEGI, and certain subsidiaries of the Company, entered into a $ 1.5 billion l ong-term unsecured, revolving credit facility (the “JSI Revolving Credit Facility”) with a syndicate of U.S.

On March 16, 2026, the Company, JEGI, and certain subsidiaries of the Company, entered into a $ 1.5 billion long-term unsecured, revolving credit facility (the “JSI Revolving Credit Facility”) with a syndicate of U.S.

and international banks and financial institutions.

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The proceeds from the 2026 Term Loan Facility proceeds were used to fund the cash portion of the PA Consulting Transaction.

We were in compliance with the covenants under the JSI Revolving Credit Facility and 2026 Term Loan Facility at March 27, 2026.

We were in compliance with the covenants under the JSI Revolving Credit Facility and 2026 Term Loan Facility at June 26, 2026.

5.90 % Bonds, due 2033

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Interest on the 6.35 % Bonds is payable semi-annually in arrears on each February 18 and August 18, until maturity.

The Notes will bear interest at a rate of 6.35 % per annum and will mature on August 18, 2028.

The 6.35 % Bonds bear interest at 6.35 % per annum.

The 6.35 % Bonds will bear interest at a rate of 6.35 % per annum and will mature on August 18, 2028.

JACOBS SOLUTIONS INC.

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The 4.75 % Bonds and 5.375 % Bonds, and the Guarantees were offered pursuant to a prospectus supplement, dated February 24, 2026, to the prospectus dated February 2, 2026, that forms a part of the Company and the JEGI's automatic shelf registration statement on Form S-3ASR previously filed with the SEC, and were issued pursuant to the Indenture, as amended and supplemented by the Third Supplemental Indenture, dated March 3, 2026 (the “Third Supplemental Indenture”).

Interest on the 4.75 % Bonds and 5.375 % Bonds is payable semi-annually in areas on March 3 and September 3 of each year, commencing on September 3, 2026, until maturity.

Interest on the 4.75 % Bonds and 5.375 % Bonds is payable semi-annually in arrears on March 3 and September 3 of each year, commencing on September 3, 2026, until maturity.

The 4.75 % Bonds bear interest at the rate of 4.75 % per annum and will mature on March 3, 2031.

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See Note 17- Commitments and Contingencies and Derivative Financial Instruments for discussion regarding the Company's derivative instruments.

The Company issued $ 0.3 million in letters of credit under the JSI Revolving Credit Facility, leaving $ 994.7 million of available borrowing capacity under the JSI Revolving Credit Facility at March 27, 2026.

In addition, the Company had issued $ 253.1 million under various separate, committed and uncommitted letter-of-credit facilities for total issued letters of credit of $ 253.4 million at March 27, 2026.

The Company issued $ 0.3 million in letters of credit under the JSI Revolving Credit Facility, leaving $ 1.5 billion of available borrowing capacity under the JSI Revolving Credit Facility at June 26, 2026.

In addition, the Company had issued $ 246.7 million under various separate, committed and uncommitted letter-of-credit facilities for total issued letters of credit of $ 247.0 million at June 26, 2026.

JACOBS SOLUTIONS INC.

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Pension and Other Postretirement Benefit Plans

The following table presents the components of net periodic pension benefit expense recognized in earnings during the three and six months ended March 27, 2026 and March 28, 2025 (in thousands):

Three Months Ended Six Months Ended

March 27, 2026 March 28, 2025 March 27, 2026 March 28, 2025

The following table presents the components of net periodic pension benefit expense recognized in earnings during the three and nine months ended June 26, 2026 and June 27, 2025 (in thousands):

Three Months Ended Nine Months Ended

June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025

Service cost $ 2,823 $ 2,499 $ 8,492 $ 7,494

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Total net periodic pension benefit expense recognized $ 1,009 $ 1,102 $ 3,538 $ 3,502

The service cost component of net periodic pension benefit is presented in the same line item as other compensation costs (Direct cost of contracts and Selling, general and administrative expenses) and the other components of net periodic pension expense are presented in Miscellaneous expense on the Consolidated Statements of Earnings.

The service cost component of net periodic pension benefit is presented in the same line item as other compensation costs (Direct cost of contracts and Selling, general and administrative expenses) and the other components of net periodic pension expense are presented in Miscellaneous income (expense), net on the Consolidated Statements of Earnings.

The following table presents certain information regarding the Company’s cash contributions to our pension plans for fiscal 2026 (in thousands):

Cash contributions made during the first six months of fiscal 2026

Cash contributions made during the first nine months of fiscal 2026

Cash contributions projected for the remainder of fiscal 2026

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The following table represents earnings from discontinued operations, net of tax (in thousands):

Three Months Ended Six Months Ended

March 27, 2026 March 28, 2025 March 27, 2026 March 28, 2025

Three Months Ended Nine Months Ended

June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025

Revenues $ — $ ( 3,197 ) $ — $ ( 3,200 )

Direct cost of contracts — 3 — —

Gross (loss) profit

— ( 9 ) — ( 6 )

Gross loss — ( 3,194 ) — ( 3,200 )

Selling, general and administrative expense ( 1,080 ) ( 518 ) ( 938 ) ( 7,549 )

( 345 ) ( 5,683 ) 142 ( 7,031 )

Operating (Loss) Profit

( 345 ) ( 5,692 ) 142 ( 7,037 )

Operating Loss ( 1,080 ) ( 3,712 ) ( 938 ) ( 10,749 )

Other expense, net (1)

— — ( 2,641 ) —

(Loss) Earnings Before Taxes from Discontinued Operations

( 2,986 ) ( 5,692 ) ( 2,499 ) ( 7,037 )

Income Tax Benefit (Expense)

88 132 155 475

Net (Loss) Earnings of the Group from Discontinued Operations

( 2,898 ) ( 5,560 ) ( 2,344 ) ( 6,562 )

Loss Before Taxes from Discontinued Operations ( 1,080 ) ( 3,712 ) ( 3,579 ) ( 10,749 )

Income Tax Benefit 274 1,627 429 2,102

Net Loss of the Group from Discontinued Operations ( 806 ) ( 2,085 ) ( 3,150 ) ( 8,647 )

Net Earnings Attributable to Noncontrolling Interests from Discontinued Operations — — — —

Net (Loss) Earnings Attributable to Jacobs from Discontinued Operations

$ ( 2,898 ) $ ( 5,560 ) $ ( 2,344 ) $ ( 6,562 )

(1) Other expense, net for the three and six months ended March 27, 2026 was unfavorably impacted by $ 2.6 million related to foreign currency translation from an indemnity reserve in respect of an ongoing non-U.S.

Net Loss Attributable to Jacobs from Discontinued Operations $ ( 806 ) $ ( 2,085 ) $ ( 3,150 ) $ ( 8,647 )

(1) The nine months ended June 26, 2026 included a $ 2.6 million loss related to foreign currency translation from an indemnity reserve in respect of an ongoing non-U.S.

tax matter related to an entity that was part of the separated SpinCo Business.

For the three and six months ended March 27, 2026, discontinued operations used $ 32.7 million of net cash flows from operating activities in connection with a previously recorded accrued liability, and there were no related investing or financing cash flows.

No notable components of net cash flows from discontinued operations were included in our Consolidated Statements of Cash Flows for the three and six months ended March 28, 2025.

No assets and liabilities remained held for spin as of March 27, 2026 and September 26, 2025 balance sheet dates.

For the nine months ended June 26, 2026, discontinued operations used $ 32.7 million of net cash flows from operating activities in connection with a previously recorded accrued liability.

For the three and nine months ended June 27, 2025, discontinued operations used $ 2.4 million of net cash flows from operating activities in connection with deferred income taxes.

There were no related investing or financing cash flows included in our Consolidated Statements of Cash Flows for the three and nine months ended June 26, 2026 and June 27, 2025.

No assets and liabilities remained held for spin as of June 26, 2026 and September 26, 2025 balance sheet dates.

Investment in Amentum Stock

As a result of the Separation Transaction on September 27, 2024, Jacobs held approximately 29.2 million of the outstanding shares of Amentum common stock initially recorded on a net book value basis under spin-off accounting rules.

Following the Merger and in accordance with the Escrow Agreement, Jacobs transferred approximately 10.9 million of the 29.2 million of Amentum shares held into escrow to be held and distributed between the parties based on terms and conditions set forth in the Merger Agreement.

The entire 29.2 million shares of Amentum, consisting of both the 10.9 million in escrow shares and the remaining 18.3 million shares owned by Jacobs was reflected in the Company’s September 27, 2024 Consolidated Balance Sheet pending final settlement of the escrow shares at a recorded fair value of $ 749.5 million.

JACOBS SOLUTIONS INC.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)

In February 2025, in connection with the determination of SpinCo’s fiscal year 2024 performance against certain agreed upon milestones and ensuing escrow share settlement proceedings (the “Post-Closing Additional Merger Consideration Adjustment”), the parties agreed that Jacobs was entitled to receive at least an additional 1.2 million shares held in escrow, which were then released to Jacobs.

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Following the distribution, the Company no longer owns any shares of Amentum common stock.

The Company reported $ 109.5 million and $ 254.7 million in fair value mark-to-market losses and other related charges associated with the former investment in Amentum shares for the three and six months ended March 28, 2025, respectively, which were included in Miscellaneous expense as reported in Other Income (Expense) in the Company’s Consolidated Statement of Earnings.

The Company reported $( 27.4 ) million in mark-to-market gains and other related transactions and $ 227.3 million in fair value mark-to-market losses and other related charges associated with the former investment in Amentum shares for the three and nine months ended June 27, 2025, respectively, which were included in Miscellaneous income (expense), net as reported in Other Income (Expense) in the Company’s Consolidated Statement of Earnings.

Transition Services Agreement

Upon closing of the Separation Transaction, the Company entered into a Transition Services Agreement (the "TSA") with Amentum pursuant to which the Company, on an interim basis, will provide various services to Amentum including corporate, information technology, and project services.

Upon closing of the Separation Transaction, the Company entered into a Transition Services Agreement (the "TSA") with Amentum pursuant to which the Company, on an interim basis, provided various services to Amentum including corporate, information technology, and project services.

The initial term of the TSA began immediately following the closing of the transaction on September 27, 2024.

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Pursuant to the terms of the TSA, the Company received payments for the interim services.

From inception of the TSA agreement, the Company recognized costs recorded in SG&A expense incurred to perform the TSA, offset by $ 10.3 million in TSA related income for such services that is reported in Miscellaneous expense for the three months ended March 28, 2025, with $ 0.1 million and $ 21.7 million respectively, for the six month periods ended March 27, 2026 and March 28, 2025.

From inception of the TSA agreement, the Company recognized costs recorded in SG&A expense incurred to perform the TSA, offset by $ 9.8 million and $ 31.5 million in TSA related income for such services that is reported in Miscellaneous income (expense), net for the three and nine months ended June 27, 2025, respectively, with no significant activities during the fiscal 2026 periods presented.

Sale of Energy, Chemicals and Resources ("ECR") Business

On April 26, 2019, Jacobs completed the sale of its Energy, Chemicals and Resources ("ECR") business to Worley Limited, a company incorporated in Australia ("Worley"), for a purchase price of $ 3.4 billion consisting of (i) $ 2.8 billion in cash plus (ii) $ 58.2 million ordinary shares of Worley, subject to adjustments for changes in working capital and certain other items.

For the three and six month periods ended March 28, 2025, there were no amounts reported in Net Loss Attributable to Jacobs from Discontinued Operations on the Consolidated Statement of Earnings related to ECR, with no significant activities during the fiscal 2026 periods presented.

Amounts reported in Net Loss Attributable to Jacobs from Discontinued Operations on the Consolidated Statement of Earnings related to ECR were immaterial for the fiscal 2026 and 2025 periods presented.

PA Consulting Redeemable Noncontrolling Interests

In connection with the Company's strategic investment in PA Consulting on March 2, 2021, the Company recorded redeemable noncontrolling interests, including subsequent purchase accounting adjustments, representing the noncontrolling interest holders' equity interests in the form of preferred and common shares of PA Consulting, with substantially all of the value associated with these interests allocable to the preferred shares.

Since the March 2, 2021 investment date, PA Consulting has been accounted for as a consolidated subsidiary and as a separate operating segment of the Company.

JACOBS SOLUTIONS INC.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)

Since the March 2, 2021 investment date, PA Consulting has been accounted for as a consolidated subsidiary and as a separate operating segment of the Company.

On January 2, 2026, Jacobs entered into the Implementation Deed with PA Consulting.

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The transactions described in this paragraph, are collectively referred to as the “PA Consulting Transaction”.

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The lockup restriction affects only the sale, assignment, pledge or other transfer of those shares and will expire by its terms on March 20, 2027, at which time such transfer restriction will lapse.

As of March 27, 2026, 2,043,537 shares remain subject to the lockup.

Also, in connection with the PA Consulting Transaction, approximately $ 113.5 million of initial consideration was paid on March 20, 2026 in cash for PA Consulting shares held to the PA Consulting employee benefit trust (the "PA Consulting EBT" - a consolidated entity of Jacobs), with these cash amounts reported as restricted cash in Prepaid expenses and other on the Consolidated Balance Sheets as of March 27, 2026.

Further, upon the recommendation of the PA Consulting shareholder representatives, this restricted cash is anticipated to be distributed by the trustees of the PA Consulting EBT to PA Consulting employees that were employed by PA Consulting as of the March 20, 2026 transaction completion date, with the majority of this distribution expected to take place in the third quarter of fiscal year 2026 (also see the Restricted Cash section of this footnote below for more information).

Based on the terms of the agreements, this amount represents compensation expense incurred related to the transaction with associated charges reflected in Selling, general and administrative expense on the accompanying Consolidated Statements of Earnings and related accruals reported in Accrued liabilities on the Consolidated Balance Sheets as of March 27, 2026.

In addition, approximately $ 10.4 million of the deferred consideration discussed above is also payable to the PA Consulting EBT, which will be distributed to PA Consulting employees on March 20, 2028.

Similar to the terms and conditions described above, this amount represents compensation expense incurred as of the transaction date and is also reflected in Selling, general and administrative expense on the accompanying Consolidated Statements of Earnings and in Other deferred liabilities on the Consolidated Balance Sheets as of and for the period ended March 27, 2026.

Other transaction costs associated with the PA Consulting Transaction of $ 36.0 million is reflected within Retained earnings and presented in the Consolidated Statements of Stockholders' Equity for the six months ended March 27, 2026.

Prior to the PA Consulting Transaction, during the first half of fiscal 2026 and 2025, PA Consulting repurchased certain shares of the redeemable noncontrolling interest holders for $ 0.4 million and $ 4.1 million respectively, in cash.

As of June 26, 2026, 2,043,537 shares remain subject to the lockup.

Also, in connection with the PA Consulting Transaction, approximately $ 113.5 million of initial consideration was paid on March 20, 2026 in cash to the PA Consulting employee benefit trust ("PA Consulting EBT"), a consolidated entity of Jacobs, for PA Consulting shares held by the PA Consulting EBT and reported as restricted cash within Prepaid expenses and other on the Consolidated Balance Sheets as of March 27, 2026.

Based on the terms of the agreements, this amount represents compensation expense incurred related to the transaction with associated charges of $ 113.5 million reflected in Selling, general and administrative expense on the accompanying Consolidated Statements of Earnings and related accruals reported in Accrued liabilities on the Consolidated Balance Sheets as of March 27, 2026.

Further, upon the recommendation of the PA Consulting shareholder representatives, in the current quarter, substantially all of the restricted cash was distributed by the trustees of the PA Consulting EBT to specified PA Consulting employees that were employed by PA Consulting as of the March 20, 2026 transaction completion date.

The remaining amount of this distribution is expected to take place in the second quarter of fiscal year 2027 (also see the Restricted Cash section of this footnote below for more information).

In addition, approximately $ 10.4 million of the deferred consideration discussed above is also payable to the PA Consulting EBT, which will be distributed to PA Consulting employees.

Other transaction costs accrued in connection with the PA Consulting Transaction were reflected within Retained earnings and presented in the Consolidated Statements of Stockholders' Equity for the three and nine months ended June 26, 2026 with cash payments for these accrued costs reflected in Repurchase of redeemable noncontrolling interests and related costs within Net cash used for financing activities on the Consolidated Statements of Cash Flows.

Prior to the PA Consulting Transaction, during the first half of fiscal 2026 and nine months ended June 27, 2025, PA Consulting repurchased certain shares of the redeemable noncontrolling interest holders for $ 0.4 million and $ 8.5 million respectively, in cash.

The difference between the cash purchase prices and the recorded book values of these repurchased and issued interests was recorded in the Company’s consolidated retained earnings.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)

During the first half of fiscal 2026 and 2025, there were adjustments of $ 0.11 and $ 0.05 , respectively, to consolidated earnings per share resulting from adjustments to the redeemable noncontrolling interests to reflect the excess of redemption values over fair values of the B common shares component of the redeemable noncontrolling interests.

The redemption value adjustments associated with redeemable noncontrolling interests preference share repurchase and reissuance activities that were recorded had an immaterial impact to earnings per share for the six months ended March 27, 2026 and March 28, 2025.

Prior to the PA Consulting Transaction, during the nine months ended June 26, 2026 and June 27, 2025, there were adjustments of $ 0.11 and $ 0.10 , respectively, to consolidated earnings per share resulting from adjustments to the redeemable noncontrolling interests to reflect the excess of redemption values over fair values of the B common shares component of the redeemable noncontrolling interests.

As a result of the PA Consulting Transaction, these shares were redeemed at fair value therefore there was no cumulative impact to EPS.

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See Note 6- Earnings Per Share and Certain Related Information for more information.

Changes in the redeemable noncontrolling interests d uring the six months ended March 27, 2026 are as follows (in thousands):

Changes in the redeemable noncontrolling interests d uring the nine months ended June 26, 2026 are as follows (in thousands):

Balance at September 26, 2025 $ 1,018,694

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( 1,119,417 )

Balance at March 27, 2026 $ —

Balance at June 26, 2026 $ —

In addition, certain employees and non-employees of PA Consulting were eligible to receive equity-based incentive grants since the March 2, 2021 original investment date.

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As of September 26, 2025, the liabilities for the vested grants associated with these equity-based incentive agreements were reported at fair value in the amount of $ 103.8 million and reflected in Other deferred liabilities in our Consolidated Balance Sheets.

Further, during the six months ended March 27, 2026 and March 28, 2025, the Company has recorded $ 237.5 million and $ 13.9 million, respectively, in expenses associated with these agreements, which were reflected in Selling, general and administrative expenses in the Consolidated Statements of Earnings.

Further, during the nine months ended June 26, 2026 and June 27, 2025, the Company has recorded $ 237.5 million and $ 20.6 million, respectively, in expenses associated with these agreements, which were reflected in Selling, general and administrative expenses in the Consolidated Statements of Earnings.

Restricted Cash

The Company's Consolidated Balance Sheets include restricted cash amounts of $ 116.5 million and $ 1.4 million at March 27, 2026 and September 26, 2025, respectively, in PA Consulting subsidiaries that is restricted from general use and is reflected in Prepaid expenses and other, with the increase due primarily to the PA Consulting Transaction as described above.

The Company's Consolidated Balance Sheets include restricted cash amounts of $ 16.1 million and $ 1.4 million at June 26, 2026 and September 26, 2025, respectively, in PA Consulting subsidiaries that is restricted from general use and is reflected in Prepaid expenses and other, with the increase due primarily to the PA Consulting Transaction as described above.

JACOBS SOLUTIONS INC.

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During fiscal 2023, the Company implemented restructuring and separation initiatives relating to the Separation Transaction (s ee Note 14- Discontinued Operations for additional information) which continued through fiscal years 2024, 2025 and 2026 ;

Jacobs has substantially completed the restructuring program for the Separation Transaction at the end of calendar year 2025.

Jacobs anticipates substantially completing the restructuring program for the Separation Transaction at the end of fiscal year 2026.

Rest ructuring initiatives were also implemented during fiscal 2023 relating to our PA Consulting business, which are substantially completed.

During fiscal 2026, the Company implemente d integration initiatives r elating to the PA Consulting Transaction (see Note 15- PA Consulting Redeemable Noncontrolling Interests for additional information).

While restructuring activities for these programs are comprised mainly of employee termination costs, the separation and integration activities are primarily related to the engagement of outside services, dedicated internal personnel and other related costs dedicated to those transactions.

Collectively, the above-mentioned restructuring activities are referred to as “Restructuring and other charges.”

The following table summarizes the impacts of the Restructuring and other charges by operating segment for the three and six months ended March 27, 2026 and March 28, 2025 (in thousands):

Three Months Ended Six Months Ended

March 27, 2026 March 28, 2025 March 27, 2026 March 28, 2025

The following table summarizes the impacts of the Restructuring and other charges by operating segment for the three and nine months ended June 26, 2026 and June 27, 2025 (in thousands):

Three Months Ended Nine Months Ended

June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025

Infrastructure & Advanced Facilities

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$ 21,395 $ 22,254 $ 39,565 $ 47,657

(1) The three and six months ended March 27, 2026 and March 28, 2025 included approximately $ 7.6 million and $ 9.9 million , respectively, and $ 10.2 million and $ 25.1 million, respectively, in restructuring and other charges relating to the Separation Transaction (primarily employee separation costs and professional services).

The three and six months ended March 27, 2026 included approximately $ 6.5 million and $ 8.3 million in restructuring and other charges relating to the PA Consulting Transaction (primarily professional services and dedicated internal personnel), which were included in Operating (loss) profit in the Company's Consolidated Statement of Earnings (mainly in SG&A).

The activity in the Company’s accruals for Restructuring and other charges for the six months ended March 27, 2026 is as follows (in thousands):

(1) The three and nine months ended June 26, 2026 and June 27, 2025 included approximately $ 7.6 million and $ 17.5 million , respectively, and $ 22.0 million and $ 47.1 million, respectively, in restructuring and other charges relating to the Separation Transaction (primarily employee separation costs and professional services).

The three and nine months ended June 26, 2026 included approximately $ 13.8 million and $ 22.0 million in restructuring and other charges relating to the PA Consulting Transaction (primarily professional services, internal personnel dedicated to integration initiatives resulting from the PA Consulting Transaction and employee separation costs).

Collectively, the above mentioned charges were included in Operating Profit in the Company's Consolidated Statement of Earnings (mainly in SG&A).

The activity in the Company’s accruals for Restructuring and other charges for the nine months ended June 26, 2026 is as follows (in thousands):

Balance at September 26, 2025

Payments and other ( 35,256 )

Balance at March 27, 2026 $ 11,615

The following table summarizes the Restructuring and other charges by major type of costs for the three and six months ended March 27, 2026 and March 28, 2025 (in thousands):

Three Months Ended Six Months Ended

March 27, 2026 March 28, 2025 March 27, 2026 March 28, 2025

Balance at June 26, 2026 $ 18,825

The following table summarizes the Restructuring and other charges by major type of costs for the three and nine months ended June 26, 2026 and June 27, 2025 (in thousands):

Three Months Ended Nine Months Ended

June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025

Voluntary and Involuntary Termination $ 11,084 $ 15,556 $ 20,850 $ 20,444

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$ 21,395 $ 22,254 $ 39,565 $ 47,657

(1) Amounts in the three and six months ended March 27, 2026 are mainly comprised of $ 2.2 million and $ 2.5 million, respectively, relating to the PA Consulting Transaction.

Amounts in the three and six months ended March 28, 2025 are comprised of professional services relating to the Separation Transaction.

(2) Amounts in the three and six months ended March 27, 2026 are comprised mainly of charges relating to the PA Consulting Transaction.

Amounts in the three and six months ended March 28, 2025 are comprised of charges relating to the Separation Transaction.

(1) Amounts in the three and nine months ended June 26, 2026 are mainly comprised of $ 4.0 million and $ 6.2 million, respectively, primarily in professional services relating to the PA Consulting Transaction.

Amounts in the three and nine months ended June 27, 2025 are comprised of professional services relating to the Separation Transaction.

JACOBS SOLUTIONS INC.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)

Cumulative amounts incurred to date for restructuring and other programs that were active as of March 27, 2026 by each major type of cost are as follows (in thousands):

(2) Amounts in the three and nine months ended June 26, 2026 are comprised mainly of incentives and other personnel charges relating to the PA Consulting Transaction.

Amounts in the three and nine months ended June 27, 2025 are comprised of charges relating to the Separation Transaction.

Cumulative amounts incurred to date for restructuring and other programs that were active as of June 26, 2026 by each major type of cost are as follows (in thousands):

Voluntary and Involuntary Termination $ 129,892

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Total $ 309,894

(1) Cumulative amount includes a $ 35.2 million realized gain on interest rate swaps settled during the fourth quarter of fiscal 2024.

(1) Cumulative amount includes internal personnel dedicated to integration initiatives and incentives and other personnel charges resulting from the PA Consulting Transaction and the Separation Transaction.

Commitments and Contingencies and Derivative Financial Instruments

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See Note 12- Borrowings for further discussion relating to the terms of the 5.90 % Bonds .

The unrealized net gain on these instruments was $ 19.5 million and $ 20.9 million, net of tax, and is included in Accumulated other comprehensive loss as of March 27, 2026 and September 26, 2025, respectively.

The unrealized net gain on these instruments was $ 18.8 million and $ 20.9 million, net of tax, and is included in Accumulated other comprehensive loss as of June 26, 2026 and September 26, 2025, respectively.

In fiscal 2020 we entered into interest rate swap agreements to manage the interest rate exposure on our variable rate loans.

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During the fiscal 2023 transition from LIBOR to SOFR, the terms of the swaps were amended accordingly and remained designated as cash-flow hedges in accordance with ASC 815, Derivatives and Hedging .

As of March 27, 2026 and September 26, 2025, the Company has one ten-year outstanding instrument with a notional value of $ 200.0 million .

The fair value of the interest rate swap at March 27, 2026 and September 26, 2025 was $ 20.0 million and $ 20.5 million, respectively, included within miscellaneous other assets on the Consolidated Balance Sheet.

The unrealized net gain on the interest rate swap as of March 27, 2026 and September 26, 2025 was $ 15.2 million and $ 15.6 million, respectively, net of tax, and was included in Accumulated other comprehensive loss.

Additionally, the Company held foreign exchange forward contracts in currencies that support our operations, including British Pound, Australian Dollar and other currencies, with notional values of $ 1.89 billion at March 27, 2026 and $ 491.9 million at September 26, 2025.

As of June 26, 2026 and September 26, 2025, the Company has one ten-year outstanding instrument with a notional value of $ 200.0 million.

The fair value of the interest rate swap at June 26, 2026 and September 26, 2025 was $ 20.3 million and $ 20.5 million, respectively, included within miscellaneous other assets on the Consolidated Balance Sheet.

The unrealized net gain on the interest rate swap as of June 26, 2026 and September 26, 2025 was $ 15.5 million and $ 15.6 million, respectively, net of tax, and was included in Accumulated other comprehensive loss.

Additionally, the Company held foreign exchange forward contracts in currencies that support our operations, including British Pound, Australian Dollar and other currencies, with notional values of $ 2.45 billion at June 26, 2026 and $ 491.9 million at September 26, 2025.

The length of these contracts currently ranges from one to three months .

The fair value of the foreign exchange contracts at March 27, 2026 was $ 2.8 million , of which $ 4.8 million is included within current assets and $( 2.0 ) million is included within current liabilities on the Consolidated Balance Sheet as of March 27, 2026.

The fair value of the foreign exchange contracts at June 26, 2026 was $ 0.3 million, of which $ 1.3 million is included within current assets and $( 1.0 ) million is included within current liabilities on the Consolidated Balance Sheet as of June 26, 2026.

The fair value of the contracts as of September 26, 2025 was $( 0.3 ) million, of which $( 2.3 ) million is included within current liabilities and $ 2.0 million is included within current assets on the Consolidated Balance Sheet as of September 26, 2025.

A ssociated income statement impacts are included in Miscellaneous expense in the Consolidated Statements of Earnings for both periods.

In addition, on January 5, 2026, in connection with the PA Consulting Transaction, the Company entered into a foreign exchange forward contract with a notional value of $ 1.31 billion to manage its exposure to fluctuations in foreign currency exchange rates arising from its obligation to deliver the cash portion of the initial consideration payable in such transaction.

On March 12, 2026 the company entered into an additional hedge with a notional value of $ 60.1 million to offset the original hedged amount.

These were subsequently settled on March 18, 2026 and a combined loss of $( 20.5 ) million was recorded in Miscellaneous expense in the Consolidated Statements of Earnings as of March 27, 2026.

Associated income statement impacts are included in Miscellaneous income (expense), net in the Consolidated Statements of Earnings for both periods.

JACOBS SOLUTIONS INC.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)

On March 12, 2026 the company entered into an additional hedge with a notional value of $ 60.1 million to offset the original hedged amount.

These were subsequently settled on March 18, 2026 and a combined loss of $( 20.5 ) million was recorded in Miscellaneous income (expense), net in the Consolidated Statements of Earnings for the nine months ended June 26, 2026.

The fair value measurements of these derivatives are being made using Level 2 inputs under ASC 820, Fair Value Measurement , as the measurements are based on observable inputs other than quoted prices in active markets.

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Guarantees are accounted for in accordance with ASC 460-10, Guarantees , at fair value at the inception of the guarantee.

At March 27, 2026 and September 26, 2025, the Company had issued and outstanding approximately $ 253.4 million and $ 217.0 million, respectively, in LOCs and $ 3.0 billion and $ 2.8 billion, respectively, in surety bonds.

At June 26, 2026 and September 26, 2025, the Company had issued and outstanding approximately $ 247.0 million and $ 217.0 million, respectively, in LOCs and $ 3.0 billion and $ 2.8 billion, respectively, in surety bonds.

Of the outstanding LOC amount, $ 0.3 million has been issued under the JSI Revolving Credit Facility and $ 246.7 million are issued under separate, committed and uncommitted letter-of-credit facilities.

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Furthermore, our income, franchise, and similar tax returns and filings are also subject to audit and investigation by the Internal Revenue Service, most states within the United States, as well as by various government agencies representing jurisdictions outside the United States.

JACOBS SOLUTIONS INC.

AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)

Our Consolidated Balance Sheets include amounts representing our probable estimated liability relating to such claims, guarantees, litigation, audits, and investigations.

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Insurance recoveries are recorded as assets if recovery is probable and estimated liabilities are not reduced by expected insurance recoveries.

JACOBS SOLUTIONS INC.

AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)

The Company believes, after consultation with counsel, that such guarantees, litigation, U.S.

government contract-related audits, investigations and claims, and income tax audits and investigations should not have a material adverse effect on our consolidated financial statements, beyond amounts currently accrued.

On January 2, 2026, Jacobs entered into the Implementation Deed with PA Consulting, pursuant to which (and certain related agreements) Jacobs UK Holdings Limited acquired from shareholders of PA Consulting, other than Jacobs and its affiliates, all of the remaining issued share capital of PA Consulting owned by such shareholders in the PA Consulting Transaction.

The transaction was completed on March 20, 2026.

Jacobs agreed to unconditionally and irrevocably guarantee, for the period between signing of and closing of the transaction, to the other parties the performance and observance by Jacobs UK Holdings Limited of all its obligations, commitments, undertakings and warranties under the Implementation Deed.

For further information, refer to Note 15- PA Consulting Redeemable Noncontrolling Interests .

Segment Information

The Company's two operating segments are comprised of Infrastructure and Advanced Facilities ("I&AF") and its majority investment in PA Consulting.

The Company's two operating segments are comprised of Infrastructure and Advanced Facilities ("I&AF") and PA Consulting.

Subsequent to the Separation Transaction, the SpinCo businesses are now presented as discontinued operations for all periods and therefore not reflected in the segment disclosures below.

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The following tables present total revenues, direct cost of contracts, selling, general and administrative expenses and segment operating profit from continuing operations for each reportable segment (in thousands) and includes a reconciliation of segment operating profit to total U.S.

GAAP operating profit by including certain corporate-level expenses, Restructuring and other charges (as defined in Note 16- Restructuring and Other Charges ) and transaction and integration costs (in thousands) for the three and six months ended:

For the three months ended For the six months ended

March 27, 2026 March 27, 2026

For the Three Months Ended For the Nine Months Ended

June 26, 2026 June 26, 2026

Infrastructure & Advanced Facilities PA Consulting Total Infrastructure & Advanced Facilities PA Consulting Total

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Earnings from Continuing Operations Before Taxes $ 241,247 $ 316,862

(1) The three and six months ended March 27, 2026 I&AF revenue and operating profit in comparison to the corresponding periods for fiscal 2025 reflected lower charges in connection with the Consolidated JV Matter (as defined below).

(1) The nine months ended June 26, 2026 I&AF revenue and operating profit in comparison to the corresponding periods for fiscal 2025 reflected lower charges in connection with the Consolidated JV Matter (as defined below).

(2) Direct cost of contracts and SG&A are considered to be significant segment expense categories as amounts align with, or are easily computable from, the segment-level information regularly provided to the CODM.

(3) The three and six months ended March 27, 2026 included $ 214.9 million and $ 237.5 million, respectively, in charges for certain subsidiary level compensation based agreements as well as $ 120.4 million and $ 122.7 million, respectively, in costs relating to the PA Consulting Transaction, $ 123.9 million of which represents consideration to be distributed to PA Consulting employees as compensation expense.

The three and six months ended March 27, 2026 included $ 7.6 million and $ 9.9 million, respectively, in restructuring and other charges relating to the Separation Transaction (primarily professional services and employee separation costs), as well as $ 6.5 million and $ 8.3 million, respectively, in restructuring and other charges relating to the PA Consulting Transaction (primarily professional services and dedicated internal personnel).

(4) The three and six months ended March 27, 2026 included a $ 20.5 million loss on the foreign exchange forward contract in connection with the PA Consulting Transaction (see Note 17- Commitments and Contingencies and Derivative Financial Instruments ).

(3) The nine months ended June 26, 2026 included $ 237.5 million in charges for certain subsidiary level compensation based agreements and $ 122.7 million primarily relating to consideration costs to specified PA Consulting employees which represent compensation expense in connection with the PA Consulting Transaction.

The three and nine months ended June 26, 2026 included $ 7.6 million and $ 17.5 million, respectively, in restructuring and other charges relating to the Separation Transaction (primarily professional services and employee separation costs), as well as $ 13.8 million and $ 22.0 million, respectively, in restructuring and other charges relating to the PA Consulting Transaction (primarily professional services, internal personnel dedicated to integration initiatives resulting from the PA Consulting Transaction and employee separation costs).

(4) The three and nine months ended June 26, 2026 included $ 6.2 million in mark-to-market gains related to investments in equity securities carried at fair value.

The nine months ended June 26, 2026 included a $ 20.5 million loss on the foreign exchange forward contract in connection with the PA Consulting Transaction (see Note 17- Commitments and Contingencies and Derivative Financial Instruments ).

JACOBS SOLUTIONS INC.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)

For the Three Months Ended For the six months ended

March 28, 2025 March 28, 2025

For the Three Months Ended For the Nine Months Ended

June 27, 2025 June 27, 2025

Infrastructure & Advanced Facilities PA Consulting Total Infrastructure & Advanced Facilities PA Consulting Total

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Earnings from Continuing Operations Before Taxes $ 245,104 $ 354,073

(1) The three and six months ended March 28, 2025 I&AF revenue and operating profit were impacted by a reserve in connection with an unfavorable interim ruling against a consolidated joint venture in which the Company holds a 50 % interest (the "Consolidated JV Matter"), with the noncontrolling partner’s share included in noncontrolling interests in the Consolidated Statements of Earnings for the respective period.

(1) The nine months ended June 27, 2025 I&AF revenue and operating profit were impacted by a reserve in connection with an unfavorable interim ruling against a consolidated joint venture in which the Company holds a 50 % interest (the "Consolidated JV Matter"), with the noncontrolling partner’s share included in noncontrolling interests in the Consolidated Statements of Earnings for the respective period.

(3) The three and six months ended March 28, 2025 included $ 10.2 million and $ 25.1 million, respectively, in restructuring and other charges relating to the Separation Transaction (primarily professional services and employee separation costs), as well as $ 8.0 million and $ 13.9 million, respectively, in charges for certain subsidiary level compensation based agreements.

The three and six months ended March 28, 2025 included approximately $ 8.4 million and $ 16.2 million, respectively, in charges associated with the Company's TSA with Amentum.

(4) The three and six months ended March 28, 2025 included $ 109.5 million and $ 254.7 million, respectively, in mark-to-market losses and other related charges associated with our former investment in Amentum stock in connection with the Separation Transaction, as well as $ 10.3 million and $ 21.7 million, respectively, in income associated with the Company's TSA with Amentum (see Note 14- Discontinued Operations ).

The three and six months ended March 28, 2025 included $ 20.5 million in discounts and expenses associated with the Equity for-Debt Transaction (see Note 12- Borrowings and Note 14- Discontinued Operations ).

(3) The three and nine months ended June 27, 2025 included $ 22.0 million and $ 47.1 million, respectively, in restructuring and other charges relating to the Separation Transaction (primarily professional services and employee separation costs), as well as $ 6.8 million and $ 20.7 million, respectively, in charges for certain subsidiary level compensation based agreements.

The three and nine months ended June 27, 2025 included approximately $ 4.7 million and $ 20.9 million, respectively, in charges associated with the Company's TSA with Amentum.

(4) The three and nine months ended June 27, 2025 included gains of $ 27.4 million and losses of $ 227.3 million, respectively, mainly related to mark-to-market adjustments and other related charges associated with our former investment in Amentum stock in connection with the Separation Transaction, as well as $ 9.8 million and $ 31.5 million, respectively, in income associated with the Company's TSA with Amentum (see Note 14- Discontinued Operations ).

The nine months ended June 27, 2025 included $ 20.5 million in discounts and expenses associated with the Equity for-Debt Transaction (see Note 12- Borrowings and Note 14- Discontinued Operations ).

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements