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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Matrix Service Company Publishes Inaugural Sustainability Report

September 22, 2021 GMT

TULSA, Okla., Sept. 22, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading contractor to the energy and industrial markets across North America, today released its inaugural Sustainability Report, focused on the Company’s Environmental, Social and Governance (ESG) commitments, strategic objectives, and accomplishments.

Key highlights:

  • Company will use SASB reporting standards to guide reporting of key Sustainability targets
  • Established enterprise-wide ESG governance framework, with oversight by the Company’s Board of Directors, to drive culture, accountability and continuous improvement
  • Establishes baseline metrics for Scope 1 and 2 Greenhouse Gas (GHG) emissions
  • Sets employee diversity baseline to shape recruiting efforts, succession planning, and professional development
  • Reports on other key areas including Safety, Health, and Well-Being; Training and Development; and Community

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“The tenets of sustainability, along with our strong commitments to safety, ethics and integrity, stewardship, and diversity, equity and inclusion, are foundational to Matrix and engrained in our Company’s culture and core values,” said Matrix Service Company President and Chief Executive Officer, John R. Hewitt. “As such, I am pleased to announce the release of our first annual Sustainability Report, an enterprise-wide effort undertaken by our employees and leadership, to showcase our accomplishments, identify areas of continuous improvement, and set the stage for transparent annual reporting on all areas of ESG.”

The 2021 Sustainability Report, which can be accessed on Matrix Service Company’s Investor Relations website, is a compilation of the Company’s performance in ESG, including the Company’s approach to sustainability, environmental stewardship, corporate governance, and our social impact.

Reporting Standards and Framework

Consistency and transparency are critical for ESG planning and, as such, beginning with the 2021 Sustainability Report, Matrix has adopted the Sustainability Accounting Standards Board (SASB) reporting standards and included a SASB reference table that details where the information set forth by SASB for the construction and engineering sector can be found in our public reporting. Matrix will also begin reporting under the Financial Stability Board’s Task Force on Climate-related Financial Disclosure (TCFD) framework in fiscal 2022.

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By following SASB and TCFD, the Company strives to identify, disclose, and communicate sustainability information considered to be materially important to all stakeholders.

The complete report is available on Matrix Service Company’s Investor Relations website at investors.matrixservicecompany.com/ESG.

About Matrix Service Company

Matrix Service Company (Nasdaq: MTRX), through its subsidiaries, is a leading North American industrial engineering and construction contractor headquartered in Tulsa, Oklahoma with offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea.

The Company reports its financial results in three key operating segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.

With a focus on sustainability, building strong Environment, Social and Governance (ESG) practices, and living our core values, Matrix ranks among the Top 100 Contractors by Engineering-News Record, was recognized for its Board diversification by 2020 Women on Boards, is an active signatory to CEO Action for Diversity and Inclusion, and is consistently recognized as a Great Place to Work®. To learn more about Matrix Service Company, visit matrixservicecompany.com.

This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as “anticipate,” “continues,” “expect,” “forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey future meaning, concerning the Company’s operations, economic performance and management’s best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including the successful implementation of the Company’s business improvement plan and the factors discussed in the “Risk Factors” and “Forward Looking Statements” sections and elsewhere in the Company’s reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company’s operations and its financial condition. We undertake no obligation to update information contained in this release, except as required by law.

For more information, please contact:

Kevin S. Cavanah
Vice President and CFO
T: 918-838-8822
Email: kcavanah@matrixservicecompany.com

Kellie Smythe
Senior Director, Investor Relations
T: 918-359-8267
Email: ksmythe@matrixservicecompany.com