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NV5 Awarded $5 Million Florida Department of Transportation Geotechnical Engineering and Materials Testing Contract

1. NV5 awarded $5 million contract by Florida DOT for infrastructure services. 2. Contract spans five years, enhancing projects across Florida's Turnpike system. 3. Oversight includes geotechnical engineering and construction materials testing. 4. CEO highlights NV5's competitive advantage in large-scale infrastructure projects. 5. NV5 has a 20-year relationship with Florida DOT, signaling trust and reliability.

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FAQ

Why Bullish?

The $5 million contract enhances NV5's revenue and establishes a long-term partnership with a key government agency, which can lead to more contracts in the future. Companies achieving new government contracts have historically seen stock price increases, highlighting market confidence.

How important is it?

The award of the contract strongly supports NV5's operational capabilities and financial position, making it a significant event for stakeholders. It reinforces their market presence in crucial infrastructure sectors, which can attract future investments.

Why Long Term?

The nature of the contract implies steady revenue over five years, positively affecting NV5's financial stability and growth prospects in the long term.

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March 05, 2025 08:00 ET  | Source: NV5 Global, Inc. HOLLYWOOD, Fla., March 05, 2025 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), NV5, a provider of compliance, technology, and engineering solutions, announced today that it has been awarded a five-year, $5 million contract by the Florida Department of Transportation (FDOT) to provide geotechnical engineering and construction materials testing for Florida’s Turnpike Enterprise, the FDOT district responsible for all toll roads and bridges. The contract will support infrastructure development, asset management, and maintenance across the Florida Turnpike system, a critical 260-mile transportation network of toll roads serving over three million travelers daily throughout the state. NV5’s Miami, Orlando, and Gainesville materials testing laboratories and consulting offices will provide essential services including soil exploration, geotechnical engineering, construction materials sampling and testing, pavement evaluation, and foundation studies to ensure the safety, reliability, and performance of Florida’s Turnpike system. “NV5’s comprehensive expertise and strategically placed laboratories throughout the state provide a competitive advantage when pursuing statewide projects such as this one, and we are pleased to deliver high-value, recurring services to Florida’s Turnpike Enterprise,” said Ben Heraud, CEO of NV5. “This collaboration demonstrates NV5’s ability to integrate capabilities across multiple offices, optimize resources, and provide impactful solutions to support large-scale infrastructure projects.” “We have served the Florida Department of Transportation for over 20 years, and we look forward to expanding our relationship as NV5’s platform in the state continues to grow,” said Alex Hockman, PE, NV5 CEO of Infrastructure. About NV5 NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, certification, and consulting solutions for public and private sector clients supporting utility, infrastructure, and building assets and systems. The Company primarily focuses on six business verticals: Utility services, infrastructure support, conformity assessment, buildings & technology, environmental health sciences, and geospatial services. NV5 operates out of more than 100 offices nationwide and abroad. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law. Investor Relations Contact NV5 Global, Inc. Jack CochranVice President, Marketing & Investor RelationsTel: +1-954-637-8048Email: ir@nv5.com Source: NV5 Global, Inc.

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