Centuri Holdings, Inc. (CTRI) Presents at Morgan Stanley's 14th Annual Laguna Conference Transcript

Centuri Holdings, Inc. ( CTRI ) Morgan Stanley's 14th Annual Laguna Conference September 17, 2026 4:50 PM EDT Company Participants Christian Brown - President, CEO & Director Kelly Youngblood - Executive VP & CFO Conference Call Participants Ryan Savoca Presentation Ryan Savoca Good afternoon. Thank you for joining us for this afternoon's panel. I'm Ryan Savoca with Morgan Stanley. I am very, very pleased to be joined today by Chris Brown, President and CEO of Centuri Holdings, and Kelly Youngblood, EVP, CFO of Centuri. Before we jump into Q&A here, Chris, you're two years into the seat. You've undergone a pretty incredible and active transformation into an independent business, public company. Can you walk us through the journey over the last couple years and really where the strategy stands today? Christian Brown President, CEO & Director Thank you, Ryan. It's good to be here, and thank you for inviting Kelly and I. Two years, it feels like 20. It's been a busy, busy year, 2 years, I think. Rolling out the Vision One strategy early this year, both internally and externally, has given us a key guiding light to where we are trending, and that strategy focuses on really three key drivers. First of all, protecting and deepening the core of who we are and who our client base is. Secondly, expanding our portfolio into those end markets that bring more margin opportunity for us but using the same services. And building a sustainable integrated business model. So Vision One Centuri across those three areas is who we are, is where we're focused and where our guiding light is. And if I think about what those individual components are, protecting and deepening the core is all about getting closer to our base customers in the utility market. It's about building capability alongside their