Quanta Services Completes Previously Announced $750 Million Accelerated Stock Repurchase Arrangement

Final Settlement Retires 9.4 Million Additional Shares

35.1 Million Shares Retired Through the Arrangement at $21.36 Per Share

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Apr 13, 2016, 06:43 ET

HOUSTON, April 13, 2016 /PRNewswire/-- Quanta Services, Inc. (NYSE: PWR) today announced that it completed the company's previously announced accelerated stock repurchase arrangement (the "ASR Arrangement") with JPMorgan Chase Bank N.A. to repurchase $750 million of Quanta common stock. The ASR Arrangement facilitated repurchases under Quanta's previously announced $1.25 billion stock repurchase program.

Under the ASR Arrangement, Quanta received an initial delivery of approximately 25.7 million shares in August 2015. Upon closing and final settlement of the ASR Arrangement on April 12, 2016, Quanta received an additional 9.4 million shares. In total Quanta retired 35.1 million shares at a price of $21.36 per share under the ASR Arrangement.

ABOUT QUANTA SERVICES
Quanta Services is a leading specialized contracting services company, delivering infrastructure solutions for the electric power and oil and gas industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy infrastructure. With operations throughout the United States, Canada and Australia and in select other international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope. For more information, visit www.quantaservices.com.

Forward Looking Statements
This press release (and oral statements regarding the subject matter of this release) contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the ability to deliver increased value and return capital to shareholders; statements concerning Quanta's stock repurchase program and any effects, results and other matters relating thereto, including the amount or timing of any transactions thereunder; future capital allocation initiatives, including any proposed strategy with respect to future stock repurchases; as well as statements reflecting expectations, intentions, assumptions or beliefs about future events, and other statements that do not relate strictly to historical or current facts. Although Quanta's management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements can be affected by inaccurate assumptions and by known and unknown risks and uncertainties that are difficult to predict or beyond Quanta's control, including, among others, the amount and timing of transactions under Quanta's stock repurchase program, which may be modified and terminated; market conditions; the effects of industry, economic or political conditions outside of the control of Quanta; quarterly variations in operating results; adverse economic and financial conditions, including weakness in the capital markets; and other risks and uncertainties detailed in Quanta's Annual Report on Form 10-K for the year ended Dec. 31, 2015, and any other documents that Quanta files with the Securities and Exchange Commission (SEC). For a discussion of these risks, uncertainties and assumptions, investors are urged to refer to Quanta's documents filed with the SEC that are available through the company's website at www.quantaservices.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Quanta further expressly disclaims any written or oral statements made by any third party regarding the subject matter of this press release.