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Charles River Associates (CRA) Strengthens Its Energy Practice

1. Kurt G. Strunk joins CRA's Energy Practice as Vice President. 2. Strunk has 30+ years of experience in energy economics and regulation. 3. His expertise strengthens CRA's support for clients in energy challenges. 4. Strunk's background includes significant advisory roles across North America. 5. CRA continues to invest in top talent for energy sector transformation.

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Why Bullish?

The addition of a significant figure like Strunk is likely to enhance CRA's service offerings, particularly in the lucrative energy consulting sector, which could positively impact revenues. Historical growth in consulting firms following management-level hires suggests potential stock price appreciation.

How important is it?

The strategic hire aims to bolster CRA's market position in energy consulting, addressing ongoing industry transformations and regulatory demands. This relevance to the company's growth strategy indicates a fair probability of it impacting stock price positively.

Why Long Term?

The benefits of Strunk's expertise will unfold as CRA engages in new projects and expands its portfolio in the energy sector over time. Long-term industry trends towards energy regulation and transition also support sustained growth prospects.

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BOSTON--(BUSINESS WIRE)--Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that Kurt G. Strunk has joined CRA’s Energy Practice as a Vice President. Mr. Strunk will be based in CRA's New York City office. “I am pleased to welcome Kurt to the CRA team,” said CRA President and Chief Executive Officer Paul Maleh. “He has more than three decades of experience advising clients on complex issues at the intersection of energy economics, government regulation, and finance. His addition strengthens CRA’s ability to support clients navigating some of the most pressing challenges in today’s energy landscape and reflects our continued investment in top-tier talent to address the accelerating transformation of the energy sector.” “Kurt brings a wealth of knowledge and a strong track record of thought leadership in utility economics and regulatory strategy,” said Jim McMahon, CRA Vice President and leader of the Energy Practice. “Throughout his career, he has served as a trusted advisor to utilities, investors, and regulatory bodies across North America, providing expert insights on topics ranging from cost of capital and rate design to energy transition strategy and infrastructure planning. He has deep experience in regulatory proceedings and commercial disputes and is widely recognized for his ability to distill complex technical issues into clear, actionable guidance for executives and stakeholders.” Prior to joining CRA, Mr. Strunk was a senior managing director at a global consulting firm where he advised energy companies, governments, and regulators. He has provided expert testimony and formal written submissions on more than 150 occasions in international and domestic arbitration, litigated court disputes, and adversarial regulatory proceedings. Additionally, he has led due diligence and valuation exercises in support of investors in a variety of power, oil, and gas M&A transactions. Mr. Strunk has an MBA from the European Institute of Business Administration (INSEAD) and a BA in economics from Vassar College. About CRA’s Energy Practice CRA’s Energy Practice blends decades of industry knowledge with world-class economic and analytical expertise. Investors, executives, and litigators from across the energy sector have turned to CRA for expert advice in hundreds of successful engagements. CRA’s expertise is grounded in a comprehensive understanding of the energy sector, including electricity and gas markets, litigation and regulatory support, market analytics and strategy, energy asset and enterprise valuation, and energy trading and risk management. About Charles River Associates (CRA) Charles River Associates® is a leading global consulting firm specializing in economic, financial, and management consulting services. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout the world. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at www.crai.com. Follow us on LinkedIn, Instagram, and Facebook. SAFE HARBOR STATEMENT Statements in this press release concerning the addition of Kurt G. Strunk and the strengthening of CRA’s Energy Practice, and any future business Mr. Strunk may generate for CRA, are “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon management’s current expectations and are subject to a number of factors and uncertainties. Information contained in these forward-looking statements is inherently uncertain, and actual performance and results may differ materially due to many important factors. Such factors that could cause actual performance or results to differ materially from any forward-looking statements made by CRA include, among others: the failure to generate engagements for us; the potential loss of clients; the demand environment; global economic conditions; foreign exchange rate fluctuations; and intense competition. Additional potential factors that could affect our financial results are included in our periodic filings with the Securities and Exchange Commission, including those under the heading “Risk Factors.” We cannot guarantee any future results, levels of activity, performance, or achievement. We undertake no obligation to update any forward-looking statements after the date of this press release, and we do not intend to do so.

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