A MESSAGE FROM OUR CEO

Iwould like to take this opportunity to congratulate Bill on his 50th anniversary at the helm of The Dutra Group, and to express my sincerest appreciation for Bill’s vision and passion throughout this tenure. Like all companies, The Dutra Group has endured periods of “high seas and foul weather.” Under Bill’s leadership, we prevailed in overcoming our challenges while also strengthening the fabric of the company in the process. Bill’s unfettered leadership, vision, and passion have inspired all of us at The Dutra Group, and we are all fortunate to have learned from him.

I look forward to our continued team effort as The Dutra Group builds on Bill’s legacy to reach ever-increasing heights as we stride forward into the future. We all look forward to Bill’s continued leadership and engagement as executive chairman.

This past year, we have experienced unprecedented inflationary and supply chain challenges that we are eager to put behind us. At the same time, I am very optimistic as we move forward into 2023. The company’s markets are strong, and they show signs of continued growth with strong demand for marine infrastructure work of all types and record levels of federal funding available to support this work. I remain increasingly bullish on what I see as tremendous opportunity and need for our services across all segments of the company’s business.

On the safety side, I could not be prouder of our employees for their tremendous effort in honoring and respecting our culture of excellence and safety. During challenging times, it is the special character of our employees that compels us to excel and to look out for one another.

As we move to grow our company and participate in even larger projects within our areas of expertise, I am highly confident that our people are up to the technical and administrative challenges. Our customers need talented people at our company, just as we need our customers. By providing the highest level of quality and service to our customers, we have the opportunity to work on exciting and important projects while strengthening and improving the infrastructure of our great nation.

I am honored and excited to work alongside our management team, including our recently appointed vice presidents and newly elevated managers, and everyone throughout the organization to guide this company into its next chapter. We have great people, equipment, customers, and backlog -- the future is very bright.

I am looking forward to great success in 2023 and the years to come. Be safe!

Harry Stewart, Chief Executive Officer