Authorization

MasTec, Inc. Announces Commencement of Exchange Offer and Consent Solicitation

CORAL GABLES, Fla., Aug. 8, 2022 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) (the "Company") announced its commencement of a private exchange offer to certain Eligible Holders (as defined herein) (the "Exchange Offer") for any and all outstanding 6.625% Senior Notes due August 15, 2029 (the "IEA Existing Notes") issued by IEA Energy Services LLC (the "IEA Issuer"), a subsidiary of Infrastructure and Energy Alternatives, Inc. ("IEA"), for up to an aggregate principal amount of $300,000,000 of new 6.625% MasTec Senior Notes due August 15, 2029 issued by the Company (the "MTZ Exchange Notes").The Exchange Offer and Consent Solicitation (as defined herein) are being conducted in connection with, and are conditioned upon the completion of, the previously announced merger in which IEA would become a wholly owned subsidiary of the Company (the "Merger"), which is currently expected to close in the fourth quarter of 2022, subject to customary closing conditions, regulatory approvals and approval by the stockholders of IEA.The following table sets forth the Exchange Consideration (as defined herein), Early Tender Premium (as defined herein) and Total Consideration (as defined herein) for the MTZ Exchange Notes:

IEA
Existing
Notes







CUSIP







Maturity
Date







Aggregate
Principal
Amount
Outstanding







Consent
Payment(1)







Exchange
Consideration(2)







Early
Tender
Premium(3)







Total
Consideration(4)



6.625%







(144A)








August







$300,000,000







$2.50 in







$950 principal







$50 principal







$1,000 principal
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