What changed in this filing

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Item 1. Business

2023-11-22 compared with 2022-11-25 · 110 added, 138 removed, 402 unchanged (38% of the section changed)

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Engineering News-Record ("ENR"), the engineering industry's leading magazine, has ranked Tetra Tech #1 in Water for 20 years in a row.

In 2022, we were also ranked #1 in environmental management, hydro plants, water treatment/desalination and water treatment/supply.

ENR also ranked Tetra Tech in the top 10 in numerous categories, including dams and reservoirs, marine and port facilities, wind power, solar power, solid waste, environmental science, chemical and soil remediation, green building design, hazardous waste and site assessment and compliance.

In 2023, we were also ranked #1 in environmental management, wind power, hydro plants, water treatment/desalination and green government offices.

ENR also ranked Tetra Tech in the top 10 in numerous categories, including dams and reservoirs, marine and port facilities, power, solar power, solid waste, environmental science, chemical and soil remediation, hazardous waste and site assessment and compliance.

Our reputation for high-end consulting and engineering services and our ability to develop solutions for water and environmental management has supported our growth for more than 50 years.

Our market leading climate mitigation and adaptation services are solving our clients' most complex challenges related to coastal flooding, water security, energy transition and biodiversity protection.

Today, we are proud to be making a difference in people’s lives worldwide through our high-end consulting, engineering and technology service offerings.

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In supporting our clients, we seek to add value and provide long-term sustainable consulting, engineering and tec hnology solutions.

By combining ingenuity and practical experience, we have helped to advance sustainability by managing water, protecting the environment, providing renewable energy, restoring ecosystems and engineering green solutions for our cities and communities.

By combining ingenuity and practical experience, we have helped to advance sustainability by managing water, protecting the environment, providing renewable energy, restoring ecosystems and creating green solutions for our cities and communities.

Our mission is to be the world's leading consulting and engineering firm solving global challenges in water and the environment that make a positive difference in people's lives worldwide.

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Opportunity means new technical challenges that provide advancement within our company, encourage an inclusive and diverse workforce and ensure a safe workplace.

We have a strong project management culture that enables us to deliver on more than 80,000 projects in a fiscal year.

W e maintain a strong emphasis on project management at all levels of the organization.

We have a strong project management culture that enables us to deliver on more than 100,000 projects per fiscal year.

Our client-focused project management is supported by strong fiscal management and financial tools.

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from smart data collection and advanced analytics that support decision making to AI enabled solutions for asset management.

Our Tetra Tech Delta technologies are drawn from our decades of operational experience and a reservoir of technical appli cations that are shared throughout our company.

Our Tetra Tech Delta technologies are drawn from our decades of operational experience and a reservoir of technical appli cations that are shared throughout our company as well as select solutions that are sold externally as software subscriptions.

Our high-end teams connect interdisciplinary experts from across our company's 27,000 staff worldwide.

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Tetra Tech Delta is continually expanding and includes cutting-edge tools on interpretive analysis, modeling of physical systems, forecasting and scenario analysis, optimization and operations research.

Leading with Science® also means fully leveraging the collective expertise provided by our global talent force of 21,000 associates.

Subscription solutions provide our clients with extended capabilities for large scale data management, spatial data interpretation, and ability to build and utilize digital twins for land, coastal and structural assets.

Leading with Science® also means fully leveraging the collective expertise provided by our global workforce of 27,000 associates.

We actively share information, ideas and resources across our global operations through our network structure, guided subject matter teams and project team building.

Our Tech 1000 event engages Tetra Tech experts world-wide to solve client challenges and identify the best ideas for further development.

We use company-wide virtual events to engage Tetra Tech experts world-wide to solve client challenges and identify the best ideas for further development.

We also proactively share emerging technology and new ideas through our knowledge transfer system, Tetra Tech Technology Transfer ("T4").

T4 facilitates our innovation culture through webcasts, blogs, multi-media and social media across our global operations.

Our Project Management Training Program provides comprehensive training in high-end project leadership skills through online training, virtual workshops and in-person events.

Our Tetra Tech Academy provides a full suite of training resources including project management, leadership development, and broad technical skills.

Academy curriculum is provided through online training, virtual workshops and in-person events.

Reportable Segments

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commercial clients and international clients other than development agencies.

These reportable segments allow us to capitalize on our growing market opportunities and enhance the development of high-end consulting and technical solutions to meet our growing client demand.

We continue to report the historical results of the wind-down of our non-core construction activities in the Remediation and Construction Management ("RCM") reportable segment.

There has been no remaining backlog for RCM since fiscal 2018 as the projects were complete.

Beginning of fiscal 2022, we aligned our operations to better serve our clients and markets, and created a new High Performance Buildings ("HPB") division in the CIG reportable segment.

As a result, we transferred some related operations in the GSG reportable segment to the CIG reportable segment.

Prior year amounts for reportable segments have been reclassified to conform to the current year presentation.

These reportable segments allow us to capitalize on our growing market opportunities and enhance the development of high-end consulting and technical solutions to meet our growing client deman d.

The following table presents the percentage of our revenue by reportable segment:

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GSG provides high-end consulting and engineering services primarily to U.S.

government clients (federal, state and local) and development agencies worldwide.

government clients (federal, state and local) and international development agencies worldwide.

GSG supports U.S.

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GSG also leads our support for development agencies worldwide, especially in the United States, the United Kingdom and Australia.

GSG provides consulting and engineering services for a broad range of water, environment and infrastructure-related needs primarily for U.S.

GSG provides consulting and engineering services for a broad range of water, environment and sustainable infrastructure-related needs primarily for U.S.

government clients.

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We also support government agencies in the full range of disaster response and community resilience services including monitoring and environmental response, damage assessment and program management services and resilient engineering design and mitigation planning.

We have a full suite of proprietary software tools and procedures that support our disaster response, planning and management support services.

These tools and procedures address disaster management and

community resilience data management needs, including information technology systems, portals, dashboards, data management, data analytics and statistical analysis.

We have a full suite of Tetra Tech Delta technology and specialized procedures that support our disaster response, planning and management support services.

These tools and procedures address disaster management and community resilience data management needs, including information technology systems, portals, dashboards, data management, data analytics and statistical analysis.

GSG provides a wide range of consulting and engineering services for solid waste management, including landfill design and management, and recycling facility design throughout the United States;

providing design, project management and maintenance services to manage solid and hazardous waste, for environmental, wastewater, energy, containment, mining, utilities, aquaculture and other industrial clients;

as well as innovative renewable energy projects such as solar energy-generating landfill caps;

providing design, project management and maintenance services to manage solid and hazardous waste;

as well as innovative renewable energy projects such as solar

energy-generating landfill caps;

and providing full-service solutions for gas-to-energy facilities to efficiently use landfill methane gas.

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We design solutions to manage and analyze data for major federal agency programs including data related to health, security, environment and water programs.

We provide technical support for the Federal Aviation Administration ("FAA") to optimize the U.S.

We provide technical support for the Federal Aviation Administration to optimize the U.S.

airspace system and support related aviation systems integration for the U.S.

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commercial clients, and international clients inclusive of the commercial and government sectors.

CIG supports commercial clients across the Fortun e 500, renewable energy, industrial, high-performance buildings and aerospace markets.

CIG also provides sustainable infrastructure and related environmental, engineering, and project management services to commercial and local government clients across Canada, in Asia Pacific (primarily Australia and New Zealand), the United Kingdom, as well as Brazil and Chile.

CIG supports commercial clients worldwide in renewable energy, industrial, high-performance buildings and aerospace markets.

CIG provides consulting and engineering services worldwide for a broad range of water, environment and sustainable infrastructure-related needs in both developed and emerging economies.

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and supporting both commercial and government clients in planning and implementing remedial activities at numerous sites around the world, and providing a broad range of environmental analysis and planning services.

CIG also supports U.S.

commercial clients by providing design services to renovate, upgrade and modernize industrial water supplies, and address industrial water treatment and water reuse needs;

CIG also supports commercial clients by providing design services to renovate, upgrade and modernize industrial water supplies, and address industrial water treatment and water reuse needs;

and provides plant engineering, project execution and program management services for industrial water treatment projects throughout the world.

CIG provides planning, architectural and sustainable engineering services for commercial and government facilities.

We provide high-end design of sustainable energy, water and GHG decarbonization solutions including civil, electrical, mechanical, structural and hydraulic engineering for buildings and surrounding developments.

We provide high-end services in addressing indoor health and associated assessment, consulting and retrofits of buildings to address indoor air quality and safety.

We also provide engineering services for a wide range of clients with specialized needs, such as data centers, security systems, training and audiovisual facilities, clean rooms, laboratories, medical facilities and disaster preparedness facilities.

CIG's international services, especially in Canada, the United Kingdom, and Asia Pacific, include high-end analytical, engineering, architecture, geotechnical and project management services for infrastructure projects, including rail and roadway monitoring and asset management services, collection of condition data, optimization of upgrades and long-term planning for

We also provide engineering services for a wide range of clients with specialized needs, such as data centers, advanced manufacturing, security systems, training and audiovisual facilities, clean rooms, laboratories, medical facilities and disaster preparedness facilities.

CIG's international services, especially in Canada, Europe, the United Kingdom, and Asia Pacific, include high-end analytical, engineering, architecture, geotechnical, project management and advisory services for infrastructure projects, including early project planning, rail and roadway monitoring and asset management services, collection of condition data, optimization of upgrades and long-term planning for expansion;

multi-modal design services for commuter railway stations, airport expansions, bridges and major highways and ports and harbors;

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These include providing consulting, geotechnical and design services to owners of transportation, natural resources, energy and community infrastructure in areas of permafrost or extreme climate regions.

CIG's energy services include support for electric power utilities and independent power producers worldwide, ranging from macro-level planning and management advisory services to project-specific environmental, engineering, project management and operational services, and advising on the design and implementation of smart grids, both domestically and internationally, including increasing utility automation, information and operational technologies and critical infrastructure security.

CIG's energy services include support for electric power utilities and independent power producers worldwide, ranging from macro-level planning and management advisory services to project-specific environmental, engineering, project management and operational services, and advising on energy security and the design and implementation of smart grids, both domestically and internationally, including increasing utility automation, information and operational technologies and critical infrastructure security.

For utilities and governmental regulatory agencies, our services include policy and regulatory development, utility management, performance improvement and asset management and evaluation.

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in implementing restoration and environmental management programs.

Remediation and Construction Management

We continued to report the results of the wind-down of our non-core construction activities in the RCM reportable segment in fiscal 2022.

There has been no remaining backlog for RCM since fiscal 2018 as the projects were complete .

In May 2022, we received a cash settlement for the last $11 million RCM claim receivable in dispute resolution.

This settlement resulted in an immaterial gain in the third quarter of fiscal 2022.

There were no significant operating activities in RCM for fiscal 2022, 2021 and 2020.

Project Examples

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federal government contracts performed outside the United States.

(2) Includes revenue generated from foreign operations, primarily in Canada, Australia, the United Kingdom and revenue generated from non-U.S.

federal government agencies are significant clients.

Agency for International Development ("USAID") accounted f or 11.0%, 11.7% and 12.2% of our revenue in fiscal 2022, 2021 and 2020, respectively.

(2) Includes revenue generated from non-U.S.

clients, primarily in Canada, Australia, Europe and the United Kingdom.

fe deral government agencies are significant clients.

Agency for International Development accounted for 12.2%, 11.0% and 11.7% of our revenue in fiscal 2023, 2022 and 2021, respectively.

The Department of Defense ("DoD") accounted for 8.9%, 9.7% and 11.2% of our revenue in fiscal 2023, 2022 and 2021, respectively.

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state and local government clients in various jurisdictions across the United States.

Our international clients are primarily focused in Canada, Australia, and the United Kingdom, and consist of a relatively equal sized mix of government and commercial clients.

commercial clients include companies in the chemical, energy, mining, pharmaceutical, retail, aerospace, automotive, petroleum and communications industries.

Our international clients are primarily focused in Canada, Australia, Europe and the United Kingdom, and consist of a relatively equal sized mix of government and commercial clients.

commercial clients include companies in the chemical, energy, pharmaceutical, retail, aerospace and automotive industries .

No single client, except for the U.S.

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federal government proposals, including those of award, administration, modification and re-pricing.

The DCAA considers our cost accounting system, estimating methods and procedures and specific

proposal requirements.

The DCAA considers our cost accounting system, estimating methods and procedures and specific proposal requirements.

Operational audits are also performed by the DCAA.

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give presentations to civic and professional organizations and present seminars on research and technical applications.

Effective development of business is facilitated by each staff member's access to all of our service offerings through our internal Tetra Tech Delta and geographic networks.

Our strong internal networking programs help our professional staff members to pursue new opportunities for both existing and new clients.

Effective development of business is facilitated by each staff member's access to all of our service offerings including our Tetra Tech Delta technology resources.

Our strong internal networking programs help our professional staff members to pursue new opportunities and build multi-disciplinary teams for both existing and new clients.

These networks also facilitate our ability to provide services throughout the project life cycle from the early studies to operations and maintenance.

Networking is further supported by our enterprise-wide knowledge management systems which include skills search tools, business development tracking and collaboration tools.

To support our growth plans, we actively attract, recruit and retain key hires.

Our combination of high-end science and consulting coupled with practical applications provides challenging and rewarding opportunities for our associates, thereby enhancing our ability to recruit and retain top quality talent.

To support our growth plans, we actively attract, recruit, engage and retain key hires.

Our combination of high-end science, technology resources and consulting culture coupled with practical applications provides challenging and rewarding opportunities for our workforce, thereby enhancing our ability to recruit and retain top quality talent.

Our internal networking programs, leadership training, entrepreneurial environment, focus on Leading with Science® and global project portfolio help to attract and retain highly qualified individuals.

Our strategic growth plans are augmented by our selective investment in acquisitions aligned with our business.

Acquisitions advance plans to add new technologies, broaden our service offerings, add contract capacity and expand our geographic presence.

Acquisitions advance our strategy by adding new technologies, broadening our service offerings, adding contract capacity and expanding our geographic presence.

Our long-established experience in identifying and integrating acquisitions strengthens our ability to integrate and rapidly leverage the resources of the acquired companies post-acquisition.

Sustainability Program

Tetra Tech supports clients in more than 100 countries around the world, helpi ng them to solve complex problems and achieve solutions that are technically, socially and economically resilient.

Our high-end consulting and engineering services

focus on using innovative technologies and creative solutions to minimize environmental impacts and enhance social systems.

Our greatest contribution toward sustainability is through the projects we perform every day for our clients, including recycling freshwater supplies, recycling waste products and reducing greenhouse gas emissions.

In developing countries, we also support gender equality programs, strengthen land tenure and increase climate resiliency and adaptation.

As a signatory of the United Nations Global Compact ("UNGC") on human rights, labor, environment and anti-corruption, Tetra Tech embraces the UNGC Ten Principles as part of the strategy, culture and daily operations of our company.

Our Sustainability Program enhances our commitment by focusing on the environmental, social and governance impact of our business via four primary pillars:

Projects – the solutions we provide for our clients;

Procurement – our procurement and subcontracting approaches;

Processes – the internal policies and processes that promote sustainable practices, reduce costs and minimize environmental impacts;

and People – th e 21,000 staff at Tetra Tech and our partners, clients and communities worldwide.

Our overarching goal is to improve the lives of one billion people by 2030.

Because our biggest impact on the world is through the projects we perform for our clients, we are tracking the total number of lives improved from our projects.

We align our project impact analysis with the Global Reporting Initiative ("GRI") standards and the United Nations Sustainable Development Goals ("SDG's"), which measure social benefit and aim to reduce poverty in communities around the world.

In addition to our 1 Billion People Challenge, we report on our operational greenhouse gas emissions associated with Scope 1, 2 and 3 CO 2 e emissions.

We also report on human capital metrics that align with our commitment to developing a thriving employee community, including gender balance, racial and ethnic diversity in our workforce, employee engagement and professional development.

Our Sustainability Program is led by our Chief Sustainability Officer, who has been appointed by our Board of Directors and is supported by other key corporate and operations representatives via our Sustainability Council.

We continuously implement sustainability-related policies and practices and assess the results of our efforts in order to improve upon them in the future.

Tetra Tech's Board of Directors Strategic Planning and Enterprise Risk Management Committee reviews and approves the Sustainability Program and evaluates our progress in achieving the goals and objectives outlined in our plan.

As part of the UNGC, we fulfill the annual Communication on Progress via Tetra Tech's Sustainability Report Card that is published on Earth Day.

Tetra Tech also participates in the Dow Jones Sustainability Index Corporate Sustainability Assessment.

Sustainability is an integral part of our global business, rooted in our internal culture and extending throughout our projects around the world.

For more than 50 years, we have leveraged cutting-edge expertise and the latest technology to deliver more sustainable solutions to clients and continually improve the way we do business.

Through our Sustainability Program, we monitor environmental, social and governance ("ESG") metrics, including human capital elements.

We continue to enhance the sustainability of our daily practices, reduce our GHG emissions, and provide an exceptional working environment for our employees across our global operations.

As a signatory of the United Nations ("UN") Global Compact on human rights, labor, environment and anti-corruption, we embrace the UN Global Compact's Ten Principles as part of the strategy, culture and daily operations of our company.

We actively engage with our stakeholders, internally and externally, to encourage input on the materiality of various ESG issues to Tetra Tech and incorporate input into our strategic planning and sustainability reporting.

sustainability reporting and key metrics are aligned with the priorities we have set on human capital, professional development, health & safety, and ethics.

We report on human capital metrics, including gender balance, racial and ethnic diversity in our workforce, employee engagement and professional development.

We have supplier programs that integrate and emphasize sustainability in the procurement of goods and services and subcontracting for our projects.

We have reported annually on GHG emissions for more than a decade, significantly reducing our emissions from program inception.

In 2021, we expanded our reporting and set new goals for scope 1, 2, and 3 emissions.

Based on input from stakeholders and in recognition of the importance of the project work we perform each year, in 2021 we also initiated our Billion People Challenge, with the overarching goal to improve the lives of one billion people by 2030.

The Billion People Challenge progress is calculated each year based on our annual project impact analysis in five categories that are closely aligned with the Global Reporting Initiative standards and the UN Sustainable Development Goals.

Our Sustainability Program is led by our Chief Sustainability Officer, who has been appointed by our Board of Directors and is supported by corporate and operations representatives through our Sustainability Council.

We continuously review sustainability-related policies and practices, integrate input from stakeholders, and assess the results of our efforts in order to make future improvements.

Tetra Tech's Board of Directors Strategic Planning and Enterprise Risk Committee reviews and approves the Sustainability Program and evaluates our progress in achieving the goals and objectives outlined in our plan.

As part of our membership in the UN Global Compact, we annually report on the Communication on Progress using Tetra Tech's Sustainability Report .

Acquisitions and Divestitures

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All acquisitions require the approval of our Board of Directors.

On January 23, 2023, we completed the acquisition of RPS Group plc ("RPS"), a publicly traded company on the London Stock Exchange in an all-cash transaction totaling $784 million.

We funded the RPS acquisition with debt, net of $109 million in proceeds from a foreign exchange forward contract that we entered into at the same time we made the formal offer to acquire RPS on September 23, 2022.

RPS employs approximately 5,000 associates in the United Kingdom, Europe, Asia Pacific and North America, delivering high-end solutions, especially in energy transformation, water and program management for government and commercial clients.

In fiscal 2023, RPS contributed revenue of approximately $600 million to our consolidated results.

RPS contributed $5.0 million to our consolidated operating income in fiscal 2023, which includes $26.8 million of intangible amortization.

Substantially all of RPS is included in our CIG segment.

In fiscal 2023, we also acquired Amyx, Inc.

(“Amyx”), an enterprise technology services, cybersecurity and management consulting firm based in Reston, Virginia.

With over 500 employees, Amyx provides application modernization, cybersecurity, systems engineering, financial management and program management support on over 30 Federal Government programs.

Amyx is included in our GSG segment.

For detailed information regarding acquisitions, see Note 5, "Acquisitions" of the "Notes to Consolidated Financial Statements" included in Item 8.

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Accordingly, from time to time, we may divest or wind-down certain non-core businesses and reallocate our resources to businesses that better align with our long-term strategic direction.

We did not divest of any businesses in fiscal 2023.

The market for our services is generally competitive.

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We perform a broad spectrum of consulting, engineering and technical services across the water, environment, sustainable infrastructure, renewable energy and international development markets.

Our client base includes U.S.

federal government agencies such as USAID, the DoD, the U.S.

Department of State, the U.S.

Department of Energy ("DOE"), the U.S.

Environmental Protection Agency ("EPA") and the FAA;

state and local government agencies;

government and commercial clients in Canada, Australia and the United Kingdom;

commercial sector, which consists primarily of large

industrial companies and utilities;

and our international commercial clients.

Our competition varies and is a function of the business areas in which, and the client sectors for which, we perform our services.

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Historically, clients have chosen among competing firms by weighing the quality, innovation and timeliness of the firm's service versus its cost to determine which firm offers the best value.

When less work becomes available in certain markets, price could become an increasingly important factor.

Our competitors vary depending on end markets and clients, and often we may only compete with a portion of a firm.

We believe that our principal competitors include the following firms, in alphabetical order:

AtkinsRéalis;

Black & Veatch Corporation;

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ICF International, Inc.;

Jacobs Engineering Group Inc.;

Jacobs Solutions, Inc.;

Leidos, Inc.;

SNC-Lavalin Group Inc.;

Stantec Inc.;

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Accordingly, our backlog as of any particular date is an uncertain indicator of our future earnings.

Our backlog at fiscal 2022 year-end was $3.7 billion, an increase of $264 million, or 7.6%, compared to fiscal 2021 year-end.

Our backlog at fiscal 2023 year-end was $4.8 billion, an increase of $1.0 billion, or 27.9%, compared to fiscal 2022 year-end.

Of this amount, GSG and CIG reported $2.7 billion and $2.1 billion of backlog, respectively, at fiscal 2023 year-end.

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These occurrences result in fewer billable hours worked on projects and, correspondingly, less revenue recognized.

Potential Liability and Insurance

Our business activities could expose us to potential liability under various laws and under workplace health and safety regulations.

Climate Risk Assessment

We assess the impact of climate on our operations and business periodically, as part of our Board of Directors' Strategic Planning and Enterprise Risk Committee meetings.

Climate risk is a consideration in business continuity planning and operational security in regions that may experience climate-related disruptions due to extreme weather, fires, or flooding.

In some cases, we may be working in regions that also experience socio-political impacts and security disruptions due to the impacts of extreme weather or prolonged drought conditions.

As a professional services company, our workforce is highly mobile, able to work remotely, and can in most cases quickly adapt to changes in local conditions.

We have business continuity planning and processes in place to address any acute impact to locally affected operations and have the ability to rapidly move to remote and flexible working arrangements while restoring or relocating affected operations.

We maintain a strong information technology infrastructure to facilitate remote working and provide virtual access to systems.

Our enterprise and project data is accessible through cloud-based systems, reducing the risk of localized disruptions of data access and computer systems.

Our offices are typically leased, so we are not at significant risk of physical building assets being impacted.

Select project activities can be impacted by climate related events;

however, these are addressed through our extensive project risk management process.

Climate-related disruptions do, in many cases, result in increased opportunity for project work for Tetra Tech.

We provide post-disaster response services and may have additional demand for our expertise if there is an increase in the frequency in climate related events.

Furthermore, our business includes providing a wide range of water, environment and sustainable infrastructure services, many of which are increased by the longer-term impacts associated with drought, water scarcity, heat, flooding and fire risk.

Risk Management and Insurance

Our business activities could expose us to potential risk and liability under various laws and under workplace health and safety regulations.

In addition, we occasionally assume liability by contract under indemnification agreements.

We cannot predict the magnitude of such potential liabilities.

Our Office of Risk Management reviews and oversees the risk profile of our operations, and reports to our Board of Directors.

We maintain a comprehensive general liability insurance policy with an umbrella policy that covers losses beyond the general liability limits.

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Human Capital Management

At fiscal 2022 year-end, we had approximate ly 21,000 staff worldwide.

A large percentage of our employees have technical and professional backgrounds and undergraduate and/or advanced degrees, including the employees of recently acquired companies.

At fiscal 2023 year-end, we ha d approximately 27,000 staff worldwide.

A large percentage of our employees have technical and professional backgrounds and undergraduate and/or advanced degrees, inc luding the employees of recently acquired companies.

Our professional staff includes archaeologists, architects, biologists, chemical engineers, chemists, civil engineers, data scientists, computer scientists, economists, electrical engineers, environmental engineers, environmental scientists, geologists, hydrogeologists, mechanical engineers, software engineers, oceanographers, project managers and toxicologists.

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Tetra Tech brings together engineers and technical specialists from all backgrounds to solve our clients' most challenging problems.

Our Diversity, Equity and Inclusion Policy guides the Board of Directors, management, associates, subcontractors and partners in developing an inclusive culture.

Our Diversity, Equity and Inclusion ("DEI") Policy guides the Board of Directors, management, associates, subcontractors and partners in developing an inclusive culture.

Our Diversity, Equity and Inclusion Council monitors Tetra Tech's diversity, equity and inclusion practices and makes recommendations to the Board of Directors and Chief Executive Officer for any changes or improvements to our program.

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Tetra Tech ensures that our practices and processes attract a diverse range of candidates, and those candidates are recruited, hired, assigned, developed and promoted based on merit and their alignment to our values.

• Learning and development opportunities.

To support our associates in reaching their full potential, Tetra Tech offers a wide range of internal and external learning and development opportunities.

• Enhancing learning and development opportunities.

Our Employee Resource Groups ("ERGs") co-sponsor training, mentorship and life skills development opportunities for the entire Tetra Tech community.

The DEI program leverages and further extends the impact of our professional development and Tetra Tech Academy Learning and Development resources.

Education assistance is offered to financially support associates who seek to expand their knowledge and skill base.

As part of Tetra Tech's commitment to a culture of inclusion, our Employee Resource Group ("ERG") Program broadens and enhances company-wide interaction opportunities for our employees.

Tetra Tech's ERG is open to all associates and involves activities for both employees whose background is the focus of the ERG and those who are supportive of the group (also known as allies).

As part of Tetra Tech's commitment to a culture of inclusion, our ERG Program broadens and enhances company-wide interaction opportunities for our employees.

Tetra Tech's ERGs are open to all associates and involve activities for both employees whose background is the focus of the ERG and those who are supportive of the group (also known as allies).

These global networks build on and coordinate with the many local networks that are already active throughout our operations and include groups focused on the experiences of Black, Latino, Pan-Asian, Women, Veterans, Disabled and LGBTQIA+ employees and emerging professionals.

Professional Development.

Tetra Tech invests in the professional development of our associates.

They are provided with training in leadership development, project management skills and interpersonal skills development.

Our focused programs are designed, taught and facilitated by Tetra Tech leadership, consistent with our commitment to talent development.

These programs include the following:

• Tetra Tech Leadership Academy.

Tetra Tech Leadership Academy develops our high-potential associates from around the world into outstanding business leaders.

Instructors for this intensive, year-long program are executive management and operational leaders.

Participants are immersed in all aspects of the operations of Tetra Tech and complete challenging, real-world assignments designed to hone their leadership and management skills.

• Tech 1000 Challenge.

The Tech 1000 Challenge is a competition to create the most innovative, technology focused solution to a real client challenge.

The event brings together employees from around the world to team up and vie for the technology solutions that address our clients' needs.

Participants from across our markets form teams to focus on client needs, receive briefings on our Tetra Tech Delta technologies from their peers, and hone their skills in designing strategies and pitching client solutions.

• Project Management Training Program.

Tetra Tech develops Project Managers who are world class in their abilities and performance.

Tetra Tech invests in the professional development of our employees.

All employees can access training and technical exchange, and skill development through our Tetra Tech Academy Learning and Development Program and customized Learning Management System, providing professional development opportunities throughout our employees' careers.

Technology skills development includes access to a series of live webcasts and recorded technology transfer sessions.

Company-wide networking events provide interactive skills development activities.

We also offer professional development programs through our Leadership Academy for Emerging Professionals, Project Management training, and Fearless Entrepreneur program.

Tetra Tech's Project Management Training Program is available to all employees and is focused on professional development, techniques for managing high-end projects and how to employ enterprise systems, dashboards and proprietary technology tools.

The Project Management training provides employees with access to a full curriculum, where attendees progress through three development tiers.

Tetra Tech's Project Excellence Steering Committee sponsors the development and implementation of our comprehensive Project Management Training Program.

The training program has been designed to address all areas of the project life cycle.

Our Project Management Training Program provides comprehensive training in high-end project leadership skills through online training, virtual workshops and in-person events.

• Fearless Entrepreneur Program.

Through this program, Tetra Tech develops client-oriented, business-minded professionals who are driven to understand and meet the needs of our clients.

Developing professionals are challenged and mentored through a process of building client relationships.

Participants take part in group discussions in a classroom setting and then are required to implement learned strategies with actual and potential clients.

• Tetra Tech Technology Transfer (T4) and ToolTalk Webcast Series.

Tetra Tech holds webcasts to help associates around the world share technical resources and enhance their use of available internal tools and to provide better service to clients.

Through the T4 and ToolTalk Webcast Series, Tetra Tech experts present and lead discussions about new technologies and programs, best practices and opportunities for growth across our company.

By offering our associates meaningful work and career development, Tetra Tech is well positioned to continue its growth through recruitment, development and retention of the best talent in the industry.

In addition, we provide comprehensive Health & Safety training, specialized environmental compliance and safety training, and support employees with required external certifications and training.

Tetra Tech also provides employees with financial support in the pursuit of academic degrees and continuous learning.

Executive Officers of the Registrant

The following table shows the name, age and position of each of our executive officers at November 22, 2022:

The following table shows the name, age and position of each of our executive officers as of November 22, 2023 :

Name Age Position

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She was inducted into the United States' National Academy of Engineers in 2022.

Amidon 55 Senior Vice President, President of CIG and the Client Account Management Division of CIG

Amidon was appointed President of CIG in September 2019, in addition to his role as President of CIG's Client Account Management Division.

Amidon has served as a project manager, key account manager, operations manager and regional manager since joining us in 2012.

He has managed a variety of complex, high profile programs for key clients, including Fortune 100 companies.

His focus has been on leading high value consulting services that deliver scientific, engineering and regulatory solutions for challenging environmental, engineering, permitting and public relations problems for energy, industrial, institutional and custodial trust clients.

He has managed projects in the U.S., Africa, Australia, Europe and the Caribbean.

In addition to experience in both public and private consulting and engineering firms over his 25-year career, Mr.

Amidon also served in a variety of business leadership and project development roles at Hess Corporation, a leading independent oil and gas company.

Amidon is a registered Professional Engineer.

He holds B.S.

degrees in Civil Engineering from Brigham Young University and a M.S.

in Management from Rensselaer Polytechnic Institute.

Argus 61 Senior Vice President, President of GSG and the U.S.

Government Division of GSG

Argus 62 Senior Vice President, President of GSG and CIG

Argus is a chemical engineer with 38 years of experience, including 30 years with us in operational leadership, program and project management and quality assurance for projects encompassing a broad spectrum of environmental, engineering, information technology and disaster management services.

2 unchanged sentences

Navy, the U.S.

Army Corps of Engineers ("USACE") and the EPA), state and municipal agencies and private clients nationwide.

Army Corps of Engineers and the Environmental Protection Agency), state and municipal agencies and private clients nationwide.

The scope of his technical experience includes planning and directing environmental programs, developing data acquisition, management and analytics solutions, fund research and development support for innovative environmental technologies and waste treatment systems, municipal resiliency and sustainability programs.

1 unchanged sentence

in Chemical Engineering from California State University, Long Beach.

Name Age Position

Carter 56 Senior Vice President, Corporate Controller and Chief Accounting Officer

6 unchanged sentences

Hopson was appointed Senior Vice President, General Counsel and Secretary to the Board of Directors in January 2018.

He also serves as the Chief Compliance Officer and is responsible for the global Human Resources function.

For the prior 10 years, Mr.

He also is responsible for the global Human Resources function and serves as the Chief Ethics and Compliance Officer.

Previously, Mr.

Hopson served as Vice President, Assistant General Counsel and Assistant Corporate Secretary at AECOM.

Prior to this, he was with O’Melveny & Myers LLP and the U.S.

Prior to this, he was a corporate and securities lawyer at O’Melveny & Myers LLP and also worked at the U.S.

Court of Appeals.

7 unchanged sentences

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-K

Item 1. Business