<SEC-DOCUMENT>0001171843-16-009594.txt : 20160502
<SEC-HEADER>0001171843-16-009594.hdr.sgml : 20160502
<ACCEPTANCE-DATETIME>20160502160014
ACCESSION NUMBER:		0001171843-16-009594
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160502
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160502
DATE AS OF CHANGE:		20160502

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STERLING CONSTRUCTION CO INC
		CENTRAL INDEX KEY:			0000874238
		STANDARD INDUSTRIAL CLASSIFICATION:	HEAVY CONSTRUCTION OTHER THAN BUILDING CONST - CONTRACTORS [1600]
		IRS NUMBER:				251655321
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31993
		FILM NUMBER:		161611608

	BUSINESS ADDRESS:	
		STREET 1:		2751 CENTERVILLE RD.
		STREET 2:		SUITE 3131
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19803
		BUSINESS PHONE:		3024789170

	MAIL ADDRESS:	
		STREET 1:		20810 FERNBUSH LANE
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77073

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OAKHURST CO INC
		DATE OF NAME CHANGE:	19950831

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OAKHURST CAPITAL INC
		DATE OF NAME CHANGE:	19931130
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_050216.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 0.75pt; border-top: Black 0.75pt solid; border-bottom: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
<B>May 2, 2016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 12pt"><B>STERLING CONSTRUCTION COMPANY, INC.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD COLSPAN="5" STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>1-31993</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>25-1655321</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of <BR>
incorporation or organization)</FONT></TD>
    <TD COLSPAN="5" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.35pt 0pt 0; text-align: center"><B>1800 Hughes Landing Blvd.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.35pt 0pt 0; text-align: center"><B>The Woodlands, Texas</B></P></TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><BR>
<FONT STYLE="font-size: 10pt"><B>77380</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Zip Code)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Registrant&rsquo;s telephone number, including area code:&nbsp;&nbsp;<B>(281) 214-0800</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 38%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(<U>see</U> General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#9633;&#9;Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#9633;&#9;Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> &#9633;&#9;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17&nbsp;CFR 240.14d-2(b))</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> &#9633;&#9;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17&nbsp;CFR 240.13e-4(c))</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: -1in"><B>Item 2.02
Results of Operations and Financial Condition.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 2, 2016, Sterling Construction
Company, Inc. (the &ldquo;Company&rdquo;) hosted a conference call announcing financial results for the three months ended
March 31, 2016. The transcript of the conference call  is being furnished with this Current Report on Form 8-K as Exhibit
99.1 and  is hereby incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information provided in this Item 2.02
shall not be deemed to be &quot;filed&quot; for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended,
nor shall it be incorporated by reference in any filing made by the Company pursuant to the Securities Act of 1933, as amended,
other than to the extent that such filing incorporates by reference any or all of such information by express reference thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Item 9.01 Financial Statements and
Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">d) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%; text-align: left"><FONT STYLE="font-size: 10pt"><B>Exhibit Number</B></FONT></TD>
    <TD STYLE="width: 80%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Conference call transcript. </FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>STERLING CONSTRUCTION COMPANY, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 50%"><FONT STYLE="font-size: 10pt">Date:&nbsp;&nbsp;May 2, 2016</FONT></TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Ron Ballschmiede</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 37.25pt"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.25pt; text-align: left; text-indent: -37.25pt"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Ron Ballschmiede</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.25pt; text-align: left; text-indent: -37.25pt">Executive
Vice President &amp;</P>

<P STYLE="margin: 0pt 0">Chief Financial
Officer</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit Index</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; text-align: left"><FONT STYLE="font-size: 10pt"><B>Exhibit Number</B></FONT></TD>
    <TD STYLE="width: 80%; text-align: left"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Conference call transcript. </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>




<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="vertical-align: top; width: 47%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; color: #101258">Sterling Construction Co., Inc.</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; color: #101258"><FONT STYLE="font-size: 10pt; font-weight: normal; color: #5D596A">STRL</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 27%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; color: #101258"><FONT STYLE="font-size: 10pt; font-weight: normal; color: #5D596A">Q1 2016 Earnings Call</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; color: #101258"><FONT STYLE="font-size: 10pt; font-weight: normal; color: #5D596A">May 2, 2016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; color: #101258"><FONT STYLE="font-size: 10pt; font-weight: normal; color: #5D596A"><I>Company&#9650;</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; color: #101258"><FONT STYLE="font-size: 10pt; font-weight: normal; color: #5D596A"><I>Ticker&#9650;</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: right"><FONT STYLE="color: #5D596A"><I>Event Type&#9650;</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; color: #101258"><FONT STYLE="font-size: 10pt; font-weight: normal; color: #5D596A"><I>Date&#9650;</I></FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0">PARTICIPANTS</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; border-bottom: Black 0.5pt solid">Corporate Participants</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Jennifer Maxwell</B> &ndash; Director-Investor Relations, Sterling Construction Co.,
Inc.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Paul J. Varello</B> &ndash; Chief Executive Officer, Sterling Construction Co., Inc.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Ronald A. Ballschmiede</B> &ndash; Chief Financial Officer &amp; Executive Vice President,
Sterling Construction Co., Inc.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0">MANAGEMENT DISCUSSION SECTION</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Operator: Greetings, and welcome to the Sterling Construction Company&rsquo;s First Quarter
2016 Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder,
this conference is being recorded.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">It is now my pleasure to introduce your host, Jennifer Maxwell, Director of Investor
Relations for Sterling Construction Company. Please go ahead, Ms. Maxwell.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; border-bottom: Black 0.5pt solid">Jennifer Maxwell, Director-Investor
Relations</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Thanks, Kevin, and good morning, everyone. Participating with me on our call today is
our Chief Executive Officer, Paul Varello; and our Chief Financial Officer, Ron Ballschmiede.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Just as a reminder, today&rsquo;s conference call includes certain statements that fall
within the definition of forward-looking statements under the Private Securities Litigation Reform Act. Any such statements are
subject to risks and uncertainties, including overall economic and market conditions; federal, state and local government funding;
competitor and customer actions; and weather conditions, which could cause actual results to differ materially from those anticipated,
including those risks identified in the company&rsquo;s filings with the Securities and Exchange Commission.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Accordingly, such statements should be considered in light of those risks. Any prediction
by the company is only a statement of management&rsquo;s belief at the time the prediction is made. There can be no assurance that
any prediction made once will &ndash; once made will continue thereafter to reflect management&rsquo;s beliefs, and the company
does not undertake to publicly update those predictions. As a further housekeeping matter, please note we will not be having a
Q&amp;A session today, in light of the pending public offering of our shares announced this morning.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">And now, I would like to turn the call over to our CEO, Paul Varello. Paul?</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; border-bottom: Black 0.5pt solid">Paul J. Varello, Chief Executive
Officer</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Thanks, Jennifer, and good morning, everybody. You will note that today&rsquo;s earnings
call is a full week earlier than our previous calls. In great part, that&rsquo;s because our subsidiaries and our financial teams
have worked hard to improve the quality and the timeliness of the information we receive. As a result, we intend to report earnings
one week earlier in the future.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Now, onto business. As I mentioned in our last call, 2015 was definitely a rebuilding
year for Sterling. We accomplished many of our goals, including strengthening our management team and improving our estimating
and project execution efforts. We believe that our turn-around efforts are starting to show meaningful results this year.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">Last year, we focused less on top line growth and more on bottom line profitability.
As a result, our revenue in 2015 dropped by $50 million from the previous year, but our net earnings began to improve. By the fourth
quarter, we believe that we have sorted out most of our challenges, and we were able to focus our efforts on selectively bidding
and winning projects that fit our capabilities and would improve our earnings. The results have been gratifying.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">During the last two quarters, we won $390 million worth of new projects at an average
margin of more than 8.5%. In addition, gross margins have shown significant improvement on a quarter-to-quarter basis when compared
to the prior year&rsquo;s results.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Here are the comparative numbers. This past Q1 of 2016 was 880 basis points higher than
Q1 of 2015, and Q4 of 2015 was 560 basis points higher than Q4 of 2014, and Q3 of 2015 was 380 basis points higher than Q3 of the
prior year.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We expect this pattern of margin improvement to continue. Of course, we will take time
&ndash; it will take time for these new projects to get underway and to produce higher earnings. Generally, our projects don&rsquo;t
start generating meaningful revenues for six months to eight months after the bid date. In addition, we have to complete approximately
$70 million worth of legacy jobs that we&rsquo;ll finish over the next couple of quarters and will generate small to zero margins.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We believe that we will start to see the higher margin projects generate stronger earnings
in Q3 and beyond. In addition, by yearend, we anticipate that our overall backlog margin will be in the range of 8.5% to 9%.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Living here in Texas these days, you can&rsquo;t seem to have a conversation without
mentioning the weather. Mother Nature hasn&rsquo;t been too kind to us this &ndash; so far this year. During Q1, we experienced
challenging weather conditions, including rain here in Texas and snow in our Nevada, Utah and Colorado operations. In addition,
substantial rainfall in early April continue to impact our Texas operations in Q2 with widespread flooding affecting more than
60% of our Texas projects. The good news is that we seem to have recovered rather quickly and have sustained only minor damage
to our work and our equipment. So far, we&rsquo;ve only lost a week of production in Q2, and that&rsquo;s not bad when you consider
that &ndash; most weather experts consider this a 500-year flood.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Our Q1 revenues and our net income were somewhat less than budgeted with revenues of
$126 million, slightly below our expectations but $8 million higher than Q1 of the year before. Our Q1 net earnings &ndash; during
Q1, we had a net loss attributable to Sterling stockholders of $7.3 million compared to a net loss of $17 million in Q1 of last
year. While we sustained this loss in Q1, we continue to believe that our full year results for revenue and net income will fall
within the ranges we had forecasted in our last call. Those ranges were $700 million to $735 million for revenue and $5 million
to $8 million for net earnings.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">With regard to the business environment going forward, we continue to see significant
increases in infrastructure spending at the federal, state and municipal levels. As you know, those investments create substantial
growth opportunities for Sterling.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">In conclusion, our turn-around efforts, though not complete, are driving significant
year-over-year improvements and building the foundation for what we believe will be sustained revenue and earnings growth in the
years ahead. While we are not content that this year&rsquo;s forecasted level of earnings is acceptable, we are encouraged that
our numbers are expected to be positive and will continue to improve beyond. We are confident that Sterling is on the right track
and position to generate improved profitability and shareholder value in the years to come.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Now, I&rsquo;d like to ask our CFO, Ron Ballschmiede, to offer his report. Ron?</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>



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<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; border-bottom: Black 0.5pt solid">Ronald A. Ballschmiede, Chief Financial
Officer &amp; Executive Vice President</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Thanks, Paul, and good morning, everyone. Let me start with building on Paul&rsquo;s
backlog comments by providing a few additional details around our recent backlog trends. At March 31, 2015; September 30, 2015;
and December 31, 2015, our backlog stood at $744 million, $718 million and $761 million, respectively. And importantly, the embedded
gross margin for those projects over that period of time was 6% at March 31, 2015; 6.5% at September 30, 2015; and 7% at December
31, 2015. During the first quarter of 2006 (sic) [2016] (08:03), backlog increased by $93 million to end at a record level of $854
million.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Turning to the margin in that backlog. At March 31, 2016, our gross margin in backlog
was 7.7%, a 70 basis improvement over the year-end 2015 level. We believe that this trend reflects progress made in the diligence
around selecting the right projects to bid on, improvements in project execution and the significant increases in transportation
and infrastructure bid opportunities.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Revenues for the first quarter of 2015 were $127 million &ndash; sorry, for 2016 was
$127 million, slightly short of our expectations, yet more than $8 million higher than &ndash; Q1 revenues of last year, which
were $118 million. The first quarter helped &ndash; was not helped by poor weather in many of our markets.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">With record volume of $957 million of backlog, [ph] plus little bit (09:16) pending at
December 31, 2015 and the continued strength in the transportation and infrastructure markets. Our full year revenue guidance remains
in the $700 million to $735 million range. Mathematically, that means that, in order to get to the midpoint of the full year guidance,
we expect to record total additional revenues of approximately $500 million during the last three quarters of 2016.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Directionally, we expect significantly higher revenues in each of our three remaining
quarters with sequential growth in the second and third quarters followed by the expected seasonal revenue decline for the fourth
quarter.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Gross profit for the first quarter totaled $3.8 million or 3% of revenues compared to
a negative $6.8 million for the comparable period of 2015. And perhaps more meaningful, gross profit totaled $12.2 million or 8%
in our preceding quarter ended December 31, 2015.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The decline in our gross profit from the preceding quarter to the first quarter of 2016
was primarily driven by three items. First and foremost is the volume of work executed. The drop in revenues between the two quarters
totaled $26 million with a backlog gross margin rate of 7%. At the beginning of the year, this low revenue volume decreased gross
profit by approximately $1.8 million.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Of more significance is the amount of unallocated indirect costs or unabsorbed overhead
resulting from the lower revenue level when compared to the next three quarters of 2016. The unabsorbed overhead totaled approximately
$3.2 million or 2.6% of revenue in the first quarter of 2016. The anticipated higher level of revenues in each of the next three
quarters are expected to result in greater absorption of overhead costs and are expected to significantly recover the first quarter
under absorption.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Secondly, we entered 2016 with approximately $86 million of backlog from revenue &ndash;
from legacy projects, carrying essentially zero margins. During the first quarter, approximately $16 million of that backlog was
reported as revenue. A majority of the remaining balance of that backlog is anticipated to be converted to revenues in the second
quarter of 2016 and to a lesser extent during the following quarter. Finally, during Q1, we recorded an additional loss of approximately
$1 million related to a West Coast project, which was substantially completed in the prior year. The most significant portion of
that loss related to unfavorable developments from a [ph] subcontractor plan. (12:15)</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">Our general and administrative expense for the first quarter was $10.5 million, down
from $11.6 million from the comparable 2015 quarter. The year-over-year decline was largely the result of one-time employee severance
cost of $2.4 million in the first quarter of 2015 and was partially offset by higher employee and benefit-related cost in the first
quarter of 2016. We continue to expect our full year general and administrative expense to be approximately 5.5% of revenue.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Other operating income decreased from $1.5 million in the first quarter of 2015 to $200,000
in the first quarter of 2016. Approximately $700,000 of that decline resulted from lower member&rsquo;s interest earnings from
our two 50%-owned joint venture subsidiaries.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">As you may recall, as a result of the prior year&rsquo;s amended agreement, beginning
in the fourth quarter of 2015 and going forward, both member&rsquo;s interests are now included as other income expense, a component
of operating income. The balance of the reduction in other income primarily relates to the first quarter 2015 gains from the disposal
of property and equipment of $759,000 compared to a $175,000 loss from disposal activities in the comparable 2016 period.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Interest expense for 2016&rsquo;s first quarter was $873,000 compared to the first quarter
of 2015 of $382,000. The increase reflects the higher interest rate of our asset-based lending facility and changes in our average
debt balance. The summation of all of these changes resulted in Q1 net loss attributable to Sterling&rsquo;s common shareholders
of $7.3 million at a net loss per share of $0.37 compared to Q1 2015 loss of $17 million or $0.90 per share.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">As Paul mentioned, in March 31, 2016, our backlog, together with new awards that were
won but not yet entered into backlog, totaled $921 million and carried a combined margin of 7.7%. Based on the strong level of
combined backlog and the expected increases in infrastructure spending to be made at the federal, state and municipal levels, we
expect to &ndash; we continue to expect to report full year 2016 net income attributable to common shareholders of $5 million to
$8 million. This range consists of our previously announced net income per share guidance of $0.25 to $0.40 on average shares outstanding
for the year of approximately 20 million shares.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Our actual gross margin performance against estimated margins has improved significantly.
For contracts sold in 2012 and executed through the first quarter of 2016, overall average project gross margins eroded by over
7% of contract price. Similarly, projects sold in 2013 experienced gross margin paid of approximately 3%. For projects sold in
2014 and 2015 and executed through the first quarter of 2015, the average paid or in some cases improvement have been less than
1%.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Turning to our balance sheet. We ended the quarter with a cash balance of $15 million
compared to cash balance of $4 million at the end of 2015. Additionally, our debt totaled $32 million at March 31, 2016 compared
to $20 million at December 31, 2015. Significant cash activities during the quarter included the cash component of the company&rsquo;s
$7.3 million net loss, distributions of our members&rsquo; interest of $4.2 million and capital expenditures of $2.8 million, partially
offset by depreciation and amortization of $4.2 million and an improvement in contract capital of $3.2 million.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We believe that the level and changes in our contract capital are good measures to manage
our net investment and project activity. Our contract capital reflecting the combined net balances of our contracts in progress,
receivables, inventory and accounts payables totaled $31.7 million at March 31, 2016.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">As we discussed at our year-end earnings call, we are continuing to explore additional
capital raising alternatives to provide for the incremental working capital necessary to ramp up our significant new awards, to
further strengthen our financial position and provide the additional financial flexibility necessary to take advantage of this
improving transportation infrastructure market.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">Our capital raising alternatives include the potential sale of real estate, equipment,
businesses and equity, the favorable resolution of outstanding contract claims, refinancing our equipment base facility or a combination
thereof. We believe that improving our financial condition and financial flexibility through the steps described above, together
with achieving our earnings expectations for the year, will provide the underpinning necessary to return to a more traditional
credit facility towards the end of 2016.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">I&rsquo;m sure that many of you have had the chance to look at our first quarter earnings
release. We have also filed our first quarter Form 10-Q earlier this morning. For additional information, please read our Form
10-Q, including the MD&amp;A for additional information on our quarter, our market developments and our future expectations.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">With that, I&rsquo;ll turn it back to Paul.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; border-bottom: Black 0.5pt solid">Paul J. Varello, Chief Executive
Officer</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Thanks, Ron. As Jennifer mentioned earlier, we are &ndash; we will not be having a Q&amp;A
discussion today. However, we will be happy to take your calls at a later time. If you wish to schedule a call, please feel free
to contact our Director of Investor Relations, Jennifer Maxwell, or our partners at the equity group. Their contact information
can be found on the bottom of our press release. I&rsquo;d like to thank you for joining our call today.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Operator: Thank you. This does conclude today&rsquo;s teleconference. You may disconnect
your line at this time, and have a wonderful day. We thank you for your participation today.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>Disclaimer</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The information herein is based on sources we believe to be reliable
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