Fluor Corporation Announces Cash Tender Offer

Fluor Corporation (NYSE: FLR) (“Fluor” or the “Company”) today announced that it has commenced a cash tender offer to purchase (the “Offer”) any and all of the outstanding 3.500% Senior Notes due 2024 (the “2024 Notes”) as set forth in the table below.

Series of Notes

CUSIP/ISIN
Numbers

Aggregate
Principal
Amount
Outstanding

U.S. Treasury
Reference Security⁽¹⁾

Bloomberg
Reference
Page⁽¹⁾

Fixed
Spread⁽¹⁾

3.500% Senior Notes due 2024

343412AC6 /
US343412AC69

$381,014,000

1.000% UST due

December 15, 2024

PX4

20 bps

⁽¹⁾ The consideration (the “Consideration”) payable per $1,000 principal amount of 2024 Notes validly tendered and accepted for purchase will be based on the fixed spread specified in the table above, plus the yield to maturity of the U.S. Treasury Reference Security based on the bid-side price of the U.S. Treasury Reference Security specified above at 11:00 a.m., New York City time, on August 11, 2023 (such date as it may be extended, the “Price Determination Date”). The Consideration does not include accrued interest, which will be paid on the 2024 Notes accepted for purchase by us as described herein. The tender offer is being made solely pursuant to the terms and conditions set forth in an Offer to Purchase, dated August 7, 2023 (the “Offer to Purchase”). Holders of the 2024 Notes are urged to carefully read the Offer to Purchase before making any decision with respect to the tender offer. The tender offer is not conditioned on any minimum amount of the 2024 Notes being tendered. Subject to applicable law, the Company may amend, extend or terminate the tender offer in its sole discretion. Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.