<SEC-DOCUMENT>0000077543-17-000031.txt : 20170515
<SEC-HEADER>0000077543-17-000031.hdr.sgml : 20170515
<ACCEPTANCE-DATETIME>20170515135715
ACCESSION NUMBER:		0000077543-17-000031
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20170515
DATE AS OF CHANGE:		20170515
EFFECTIVENESS DATE:		20170515

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TUTOR PERINI Corp
		CENTRAL INDEX KEY:			0000077543
		STANDARD INDUSTRIAL CLASSIFICATION:	GENERAL BUILDING CONTRACTORS - NONRESIDENTIAL BUILDINGS [1540]
		IRS NUMBER:				041717070
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06314
		FILM NUMBER:		17843124

	BUSINESS ADDRESS:	
		STREET 1:		15901 OLDEN STREET
		CITY:			SYLMAR
		STATE:			CA
		ZIP:			91342
		BUSINESS PHONE:		818-362-8391

	MAIL ADDRESS:	
		STREET 1:		15901 OLDEN STREET
		CITY:			SYLMAR
		STATE:			CA
		ZIP:			91342

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PERINI CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>tpc-20170515xdefa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<!--HTML document created with Certent Disclosure Management 6.6.0.153-->
<!--Created on: 5/15/2017 10:04:39 AM-->
<html>
	<head>
		<title>
			2017 Proxy Def Additional Materials
		</title>
	</head>
	<body><div style="margin-left:36pt;margin-right:36pt;">
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;background-color: #FFFFFF;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:05.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 1pt">
						<a name="_GoBack"></a><font style="display: inline;font-size:1pt;">&#xFEFF;</font></p>
				</td>
				<td colspan="2" valign="top" style="width:04.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:90.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 14pt">
						<font style="display: inline;font-weight:bold;font-size:14pt;">UNITED STATES</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 14pt">
						<font style="display: inline;font-weight:bold;font-size:14pt;">SECURITIES AND EXCHANGE COMMISSION</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;font-weight:bold;font-size:12pt;">Washington, D.C. 20549</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;height:12.95pt;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 5pt">
						<font style="display: inline;font-weight:bold;font-size:5pt;">&#xFEFF;</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 14pt">
						<font style="display: inline;font-weight:bold;font-size:14pt;">SCHEDULE 14A</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;height:12.95pt;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;font-weight:bold;font-size:12pt;">&#xFEFF;</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 5pt">
						<font style="display: inline;font-size:5pt;">&#xFEFF;</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;height:4.05pt;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 1pt">
						<font style="display: inline;font-weight:bold;font-size:1pt;">&#xFEFF;</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 1pt">
						<font style="display: inline;font-weight:bold;font-size:1pt;">&#xFEFF;</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 5pt">
						<font style="display: inline;font-size:5pt;">&#xFEFF;</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;font-weight:bold;font-size:12pt;">Proxy Statement Pursuant to Section 14(a) of</font><font style="display: inline;font-weight:bold;font-size:12pt;">&nbsp;</font><font style="display: inline;font-weight:bold;font-size:12pt;">the</font><font style="display: inline;font-weight:bold;font-size:12pt;">&nbsp;</font><br /><font style="display: inline;font-weight:bold;font-size:12pt;"></font><font style="display: inline;font-weight:bold;font-size:12pt;">Securities Exchange Act of 1934 (Amendment No.</font><font style="display: inline;font-weight:bold;font-size:12pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;font-weight:bold;font-size:12pt;">)</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 5pt">
						<font style="display: inline;font-size:5pt;">&#xFEFF;</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Filed by the Registrant&nbsp;&nbsp;</font><font style="display: inline;font-family:MS Gothic;">&#x2612;</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 5pt">
						<font style="display: inline;font-size:5pt;">&#xFEFF;</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Filed by a Party other than the Registrant</font><font style="display: inline;">&nbsp;&nbsp;</font><font style="display: inline;font-family:MS Gothic;">&#x2610;</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 5pt">
						<font style="display: inline;font-size:5pt;">&#xFEFF;</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Check the appropriate box:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&#xFEFF;</font><font style="display: inline;font-family:MS Gothic;">&#x2610;</font></p>
				</td>
				<td colspan="3" valign="top" style="width:94.96%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Preliminary Proxy Statement</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;border-bottom:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font><font style="display: inline;font-family:MS Gothic;">&#x2610;</font></p>
				</td>
				<td colspan="3" valign="top" style="width:94.96%;border-bottom:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font><font style="display: inline;font-family:MS Gothic;">&#x2610;</font></p>
				</td>
				<td colspan="3" valign="top" style="width:94.96%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Definitive Proxy Statement</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font><font style="display: inline;font-family:MS Gothic;">&#x2612;</font></p>
				</td>
				<td colspan="3" valign="top" style="width:94.96%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Definitive Additional Materials</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font><font style="display: inline;font-family:MS Gothic;">&#x2610;</font></p>
				</td>
				<td colspan="3" valign="top" style="width:94.96%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Soliciting Material under &#xA7;240.14a-12</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 5pt">
						<font style="display: inline;font-size:5pt;">&#xFEFF;</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 14pt">
						<font style="display: inline;font-weight:bold;font-size:14pt;">TUTOR PERINI CORPORATION</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">(Name of Registrant as Specified In Its Charter)</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 5pt">
						<font style="display: inline;font-size:5pt;">&#xFEFF;</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 5pt">
						<font style="display: inline;font-size:5pt;">&#xFEFF;</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 5pt">
						<font style="display: inline;font-size:5pt;">&#xFEFF;</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="4" valign="top" style="width:100.00%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Payment of Filing Fee (Check the appropriate box):</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font><font style="display: inline;font-family:MS Gothic;">&#x2612;</font></p>
				</td>
				<td colspan="3" valign="top" style="width:94.96%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">No fee required.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;border-bottom:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font><font style="display: inline;font-family:MS Gothic;">&#x2610;</font></p>
				</td>
				<td colspan="3" valign="top" style="width:94.96%;border-bottom:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font></p>
				</td>
				<td colspan="2" valign="top" style="width:04.66%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">(1)</font></p>
				</td>
				<td valign="top" style="width:90.30%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Title of each class of securities to which transaction applies:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font></p>
				</td>
				<td colspan="2" valign="top" style="width:04.66%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:90.30%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font></p>
				</td>
				<td colspan="2" valign="top" style="width:04.66%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">(2)</font></p>
				</td>
				<td valign="top" style="width:90.30%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Aggregate number of securities to which transaction applies:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font></p>
				</td>
				<td colspan="2" valign="top" style="width:04.66%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:90.30%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;border-bottom:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="width:04.66%;border-bottom:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">(3)</font></p>
				</td>
				<td valign="top" style="width:90.30%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font></p>
				</td>
				<td colspan="2" valign="top" style="width:04.66%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:90.30%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font></p>
				</td>
				<td colspan="2" valign="top" style="width:04.66%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">(4)</font></p>
				</td>
				<td valign="top" style="width:90.30%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Proposed maximum aggregate value of transaction:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font></p>
				</td>
				<td colspan="2" valign="top" style="width:04.66%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:90.30%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font></p>
				</td>
				<td colspan="2" valign="top" style="width:04.66%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">(5)</font></p>
				</td>
				<td valign="top" style="width:90.30%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Total fee paid:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font></p>
				</td>
				<td colspan="2" valign="top" style="width:04.66%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:90.30%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font><font style="display: inline;font-family:MS Gothic;">&#x2610;</font></p>
				</td>
				<td colspan="3" valign="top" style="width:94.96%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Fee paid previously with preliminary materials.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;border-bottom:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">&#xFEFF;</font><font style="display: inline;font-family:MS Gothic;">&#x2610;</font><font style="display: inline;font-weight:bold;">&nbsp;</font></p>
				</td>
				<td colspan="3" valign="top" style="width:94.96%;border-bottom:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:04.36%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">(1)</font></p>
				</td>
				<td colspan="2" valign="top" style="width:90.60%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Amount Previously Paid:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:04.36%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="width:90.60%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:04.36%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">(2)</font></p>
				</td>
				<td colspan="2" valign="top" style="width:90.60%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Form, Schedule or Registration Statement No.:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:04.36%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="width:90.60%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:04.36%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">(3)</font></p>
				</td>
				<td colspan="2" valign="top" style="width:90.60%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Filing Party:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:04.36%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="width:90.60%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:04.36%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">(4)</font></p>
				</td>
				<td colspan="2" valign="top" style="width:90.60%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Date Filed:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:05.04%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:04.36%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="width:90.60%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-size:12pt;">&nbsp;&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-size:12pt;">&nbsp;&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			&nbsp;
		</p></div><div style="margin-left:36pt;margin-right:36pt;">
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">TUTOR PERINI CORPORATION</font>
		</p>
		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">15901 Olden Street</font>
		</p>
		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">Sylmar, California 91342</font>
		</p>
		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">May&nbsp;</font><font style="display: inline;">15</font><font style="display: inline;">, 2017</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">Dear Shareholders:</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">Tutor Perini Corporation (the &#x201C;Company</font><font style="display: inline;">,</font><font style="display: inline;">&#x201D; &#x201C;we</font><font style="display: inline;">,</font><font style="display: inline;">&#x201D; &#x201C;us&#x201D; or &#x201C;our&#x201D;) will be holding its 2017 Annual Meeting of Shareholders on May 24, 2017. We are writing to ask for your support at the meeting by voting in accordance with the recommendations of our Board of Directors (the &#x201C;Board&#x201D;) on all </font><font style="display: inline;">agenda items for the Meeting</font><font style="display: inline;">. This letter is intended as a supplement to our Proxy Statement (the &#x201C;Proxy</font><font style="display: inline;"> Statement</font><font style="display: inline;">&#x201D;) that was filed </font><font style="display: inline;">with the Securities and Exchange Commission (the &#x201C;SEC&#x201D;) and mailed to you </font><font style="display: inline;">on April 13, 2017</font><font style="display: inline;">.</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">A copy of the Proxy Statement </font><font style="display: inline;">is available on our website at http://investors.tutorperini.com/events-calendar/proxy-voting.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">We have prepared t</font><font style="display: inline;">his letter to address certain shareholder voting recommendations published by Institutional Shareholder Services (</font><font style="display: inline;">&#x201C;</font><font style="display: inline;">ISS</font><font style="display: inline;">&#x201D;</font><font style="display: inline;">) on May 11, 2017 and </font><font style="display: inline;">by </font><font style="display: inline;">Glass, Lewis &amp; Co. (</font><font style="display: inline;">&#x201C;</font><font style="display: inline;">GL</font><font style="display: inline;">&#x201D;</font><font style="display: inline;">) on May 12, 2017. We were surprised and disappointed by some of the voting recommendations made by ISS and GL in their recent reports. As we outlined in our Proxy</font><font style="display: inline;"> Statement</font><font style="display: inline;">, we have taken significant steps toward addressing many of the concerns expressed by shareholders and proxy advisory firms (</font><font style="display: inline;">particularly </font><font style="display: inline;">ISS and GL). We have increased the frequency of our shareholder outreach efforts </font><font style="display: inline;">both</font><font style="display: inline;"> to ensure we understand the issues most important to our shareholders and to </font><font style="display: inline;">enhance</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">shareholder input into the Company&#x2019;s compensation philosophy</font><font style="display: inline;"> and practices</font><font style="display: inline;">.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">We firmly believe that the progress we have made over the last year</font><font style="display: inline;">, as well as the additional steps we have committed to take this year,</font><font style="display: inline;"> clearly demonstrates the Company&#x2019;s commitment to improve its compensation and overall governance practices. As such, we do not believe that certain of the voting recommendations that have been made by ISS and GL fully consider </font><font style="display: inline;">or fairly take into account </font><font style="display: inline;">the relevant facts and circumstances that have been outlined in the Proxy</font><font style="display: inline;"> Statement</font><font style="display: inline;">. &nbsp;</font><font style="display: inline;">In short</font><font style="display: inline;">, &nbsp;</font><font style="display: inline;">we feel strongly that </font><font style="display: inline;">some of their recommendations </font><font style="display: inline;">are based on isolated comparative metrics and proprieta</font><font style="display: inline;">ry calculations that </font><font style="display: inline;">do not adequately recognize the significant progress the Company is making and, </font><font style="display: inline;">particularly in the case of ISS&#x2019;</font><font style="display: inline;">s</font><font style="display: inline;"> recommendation on Proposal 3</font><font style="display: inline;">, &nbsp;</font><font style="display: inline;">serve to impede, rather than </font><font style="display: inline;">encourage</font><font style="display: inline;">, our efforts to be responsive to our shareholders&#x2019; views</font><font style="display: inline;">.</font><font style="display: inline;">&nbsp;</font><font style="display: inline;font-weight:bold;">Further, we believe that both ISS and GL continue to dwell on past compensation practices</font><font style="display: inline;font-weight:bold;">,</font><font style="display: inline;font-weight:bold;"> rather than current practices that have been significantly improved over the last year.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">The underlying theme for nearly all of the adverse recommendations of ISS and GL (</font><font style="display: inline;">which</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">we believe are flawed</font><font style="display: inline;"> and unwarranted</font><font style="display: inline;">) is in some way connected to the compensation paid to our CEO, Ronald N. Tutor. In addition to a disconnect in what we believe to be our relevant peer group (we use an industry-focused peer group consisting solely of engineering and construction companies</font><font style="display: inline;">, as detailed further below in the section discuss</font><font style="display: inline;">ing</font><font style="display: inline;"> Proposal 4</font><font style="display: inline;">), we believe that the proxy advisory firms do not fully appreciate Mr. Tutor&#x2019;s significant value to the Company and the importance of retaining his services. Mr. Tutor&#x2019;s importance is even more pronounced as the Company readies itself for the significant growth that is expected over the next several years, fueled by the considerable volume of higher-margin civil project opportunities that we believe are on the horizon with the recent focus on and public, bipartisan support for infrastructure spending. In addition, we believe that ISS and GL have not adequately considered in their analyses </font><font style="display: inline;">the portion of Mr. Tutor&#x2019;s </font><font style="display: inline;">bonus and equity </font><font style="display: inline;">opportunities </font><font style="display: inline;">that </font><font style="display: inline;">was not paid to Mr. Tutor </font><font style="display: inline;">due to the Company&#x2019;s failure to achieve certain financial performance targets. </font><font style="display: inline;font-weight:bold;">After adjusting for </font><font style="display: inline;font-weight:bold;">this </font><font style="display: inline;font-weight:bold;">forfeited compensation (which is not </font><font style="display: inline;font-weight:bold;">reflected </font><font style="display: inline;font-weight:bold;">in the required </font><font style="display: inline;font-weight:bold;">Proxy Statement </font><font style="display: inline;font-weight:bold;">tables), </font><font style="display: inline;font-weight:bold;">the amount of compensation that Mr. Tutor actually received</font><font style="display: inline;font-weight:bold;"> is considerably lower</font><font style="display: inline;font-weight:bold;"> than the amount he could have earned if the Company&#x2019;s performance had </font><font style="display: inline;font-weight:bold;">been higher. </font><font style="display: inline;font-weight:bold;">In our view, this result (which also is true for the compensation of our other named executive officers) reflects the Company&#x2019;s commitment to a Pay-for-Performance compensation philosophy</font><font style="display: inline;font-weight:bold;">.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">It is also important to note that Mr. Tutor&#x2019;s compensation is defined in his amended employment agreement, which expires on December 31, 2018 and is largely consistent with the agreement that he entered into at the time of the 2008 merger that created the Company. As such, the</font><font style="display: inline;"> Company is bound by the terms of </font><font style="display: inline;">the</font><font style="display: inline;"> contract and cannot freely </font><font style="display: inline;">revise the terms of </font><font style="display: inline;">Mr.</font><font style="display: inline;"> Tutor&#x2019;s compensation prior to the expiration of his </font><font style="display: inline;">employment agreement. </font><font style="display: inline;">Despite these contractual requirements, the Compe</font><font style="display: inline;">nsation Committee has increased</font><font style="display: inline;"> Mr. Tutor</font><font style="display: inline;">&#x2019;s</font><font style="display: inline;"> base salary </font><font style="display: inline;">only once </font><font style="display: inline;">since the 2008 merger. </font><font style="display: inline;">The Compensation Committee </font><font style="display: inline;">neither</font><font style="display: inline;"> increase</font><font style="display: inline;">d</font><font style="display: inline;"> Mr. Tutor&#x2019;s base salary </font><font style="display: inline;">n</font><font style="display: inline;">or </font><font style="display: inline;">awarded </font><font style="display: inline;">him </font><font style="display: inline;">any </font><font style="display: inline;">additional</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">equity in 2016.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">In summary, we believe that the Compensation Committee has acted reasonably</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">and responsibly</font><font style="display: inline;"> and that the proxy advisory firms have not appropriately considered </font><font style="display: inline;">all of the relevant facts and circumstances surrounding the Company&#x2019;s approach to addressing </font><font style="display: inline;">Mr. Tutor&#x2019;s compensation.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">

			<font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">1</font><font style="display: inline;font-size:10pt;"></font>

		</p>

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;font-weight:bold;">While requesting your support for all of the matters on the Meeting agenda, we feel it is particularly critical that shareholders </font><font style="display: inline;font-weight:bold;">support Proposal 3</font><font style="display: inline;font-weight:bold;">, in which we seek approval</font><font style="display: inline;font-weight:bold;">&nbsp;</font><font style="display: inline;font-weight:bold;">of the Tutor Perini Corporation Incentive Compensation Plan.</font><font style="display: inline;"> GL agrees with </font><font style="display: inline;">our Board&#x2019;s </font><font style="display: inline;">recommendation to vote FOR this proposal</font><font style="display: inline;">.</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">H</font><font style="display: inline;">owever, surprisingly</font><font style="display: inline;">,</font><font style="display: inline;"> ISS has recommended a vote against the approval of the Plan. With the extraordinary civil project demand and expected resulting growth </font><font style="display: inline;">in new business opportunities </font><font style="display: inline;">over the next several years, approval of this Plan is critical so that the Company can retain and reward the Company&#x2019;s higher performing employees and attract the highest caliber of new talent needed to support our expected growth. In 2017, we began to issue equity awards on a broader scale as a means </font><font style="display: inline;">of</font><font style="display: inline;"> retain</font><font style="display: inline;">ing</font><font style="display: inline;"> numerous senior and mid-level executives, and we intend to continue this practice in the future. The use of equity in this regard is the norm among public companies and is preferred over equivalent cash awards, since it aligns employee incentive compensation more closely </font><font style="display: inline;">with</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">the performance of the Company and </font><font style="display: inline;">with</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">shareholders&#x2019; interests.</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">It is thus perplexing to us that ISS justified its recommendation of opposition to this Plan in part because of its dissatisfaction with the Company&#x2019;s history of granting equity awards to</font><font style="display: inline;"> a limited number of employees</font><font style="display: inline;">, as o</font><font style="display: inline;">ne of the objectives of implementing the new Plan is to broaden the base of equity</font><font style="display: inline;">-</font><font style="display: inline;">a</font><font style="display: inline;">ward recipients. </font><font style="display: inline;">Consequently, ISS&#x2019;s recommendation on Proposal 3, if followed, would actually impede the Company&#x2019;s ability to effect the very change in compensation practices that ISS supports.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">The following is a more detailed discussion of our disagreement with certain of the shareholder voting recommendations made by ISS and GL.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&nbsp;&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">PROPOSAL 1 &#x2013; </font><font style="display: inline;font-weight:bold;">ELECTION OF DIRECTORS</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;text-decoration:underline;">Peter Arkley</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">GL has concurred with the Board&#x2019;s recommendation that shareholders vote FOR the election of Peter Arkley</font><font style="display: inline;">,</font><font style="display: inline;"> whereas </font><font style="display: inline;">ISS has recommended a withhold vote.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">In its proxy analysis report, ISS classifies Mr. Arkley as an &#x201C;Affiliated Outsider&#x201D; concluding, in effect, that his role as Senior Managing Director of Alliant Insurance Services (&#x201C;Alliant&#x201D;) may impair his ability to act independently of the Company&#x2019;s management. In reaching its conclusion, ISS appears to set aside the relevant regulation around director independence, Section 303A of the New York Stock Exchange (&#x201C;NYSE&#x201D;) Listing Standards, choosing instead to form a conclusion based on its own subjective guidelines and at a quantitative threshold materially lower than</font><font style="display: inline;"> that which is</font><font style="display: inline;"> required by the NYSE. </font><font style="display: inline;">In spite of ISS&#x2019;s position that Mr. Arkley is an Affiliated Outsider and should not serve on the Governance Committee or any other Board Committee reserved for independent directors, </font><font style="display: inline;font-weight:bold;">Mr. Arkley is, in fact, fully qualified to serve as in independent director under NYSE and SEC rules.</font><font style="display: inline;"> We believe that the basis for </font><font style="display: inline;">ISS&#x2019;s</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">conclusion is overreaching and excessively restrictive given the Company&#x2019;s specific analysis and disclosure of Mr. Arkley&#x2019;s independence in the Proxy</font><font style="display: inline;"> Statement</font><font style="display: inline;">. ISS fails to cite </font><font style="display: inline;">any specific</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">reasons for its conclusion</font><font style="display: inline;">. &nbsp;</font><font style="display: inline;">(ISS mentions that the Proxy Statement does not disclose the specific amount of fees the Company pa</font><font style="display: inline;">id to Alliant in 2016, though ISS</font><font style="display: inline;"> does not </font><font style="display: inline;">acknowledge</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">that such disclosure is not required nor does it </font><font style="display: inline;">contend</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">that such information is material, which the Company has concluded it is not.)</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">As disclosed in the Proxy</font><font style="display: inline;"> Statement</font><font style="display: inline;">, the Board assesses</font><font style="display: inline;"> the</font><font style="display: inline;"> independence of directors annually, pursuant to Section 303A of the NYSE Listing Standards. As of its most recent assessment, the Board has affirmatively determined that Mr.&nbsp;Arkley is, in fact, independent. In making its determination of independence, the Board considered Mr. Arkley&#x2019;s relationship with the Company and its management. The Board also broadly considered all relevant facts and circumstances when assessing </font><font style="display: inline;">whether</font><font style="display: inline;"> Mr. Arkley</font><font style="display: inline;">, directly or indirectly through his role at Alliant, had a material relationship with the Company that should disqualify him from b</font><font style="display: inline;">eing considered &#x201C;independent.&#x201D; </font><font style="display: inline;">The Board reached a considered judgment that Mr. Arkley is independent, in light of the applicable facts and standards, and we are pleased that GL agrees with the Boa</font><font style="display: inline;">rd&#x2019;s conclusion on this point. </font><font style="display: inline;">We strongly disagree with ISS&#x2019;s contrary view</font><font style="display: inline;">.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">As part of its review, the Board specifically considered Mr. Arkley&#x2019;s </font><font style="display: inline;">position at Alliant, Alliant&#x2019;s </font><font style="display: inline;">business relationship with the Company, and </font><font style="display: inline;">Mr. Arkley&#x2019;s involvement (or lack of involvement) in the business be</font><font style="display: inline;">tween Alliant and the Company. </font><font style="display: inline;">The Board </font><font style="display: inline;">concluded that </font><font style="display: inline;">this </font><font style="display: inline;">was not </font><font style="display: inline;">a &nbsp;</font><font style="display: inline;">material</font><font style="display: inline;"> relationship</font><font style="display: inline;"> and, therefore, concluded that </font><font style="display: inline;">Mr. Arkley</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">met the criteria of an independent director. A summary of the Board&#x2019;s analysis follows:</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-family:Symbol;">&#xF0B7;</font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">With respect to Mr. Arkley, the Board considered the relationship between the Company and Alliant. Consistent with NYSE Listing Standard 303A.02(a), the Board determined that the Company&#x2019;s relationship with Alliant did not impact Mr. Arkley&#x2019;s independence from Tutor Perini because of the following: (1)&nbsp;services provided by Alliant are supplied to Tutor Perini on terms similar to Alliant&#x2019;s other clients; (2)&nbsp;income generated by Alliant for services provided to Tutor Perini is not material to Alliant&#x2019;s U.S. or consolidated operations; (3)&nbsp;Mr. Arkley is not personally involved in the management of Alliant&#x2019;s services provided to the Company; (4)&nbsp;Mr. Arkley recuses himself on all Board decisions regarding insurance; (5)&nbsp;Mr. Arkley does not have the authority to unilaterally negotiate Alliant&#x2019;s fees charged to the Company; (6)&nbsp;commissions paid by the Company are established by arrangements negotiated between Alliant and insurance carriers, are applied to all of Alliant&#x2019;s customers, </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">

			<font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">2</font><font style="display: inline;font-size:10pt;"></font>

		</p>

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 0pt 36pt;line-height:100%;font-family:Times New Roman;font-size: 10pt"><font style="display: inline;">indiscriminately, and are publicly disclosed; and (7)&nbsp;remuneration paid to Mr. Arkley for his role at Alliant is not directly tied to the Company&#x2019;s use of Alliant&#x2019;s services.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">Additionally, in determining Mr. Arkley&#x2019;s independence, the Board considered, as it does for all of its directors, the </font><font style="display: inline;">specific</font><font style="display: inline;"> quantitative factors in NYSE Listing Standard 303A.02(b) and noted that </font><font style="display: inline;font-weight:bold;">none of these factors impacted Mr. Arkley&#x2019;s independence</font><font style="display: inline;">, specifically:</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 81pt;text-indent: -18pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">i.</font><font style="display: inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 12pt 0pt 0pt;"></font><font style="display: inline;"></font><font style="display: inline;">whether the director was employed by the Company in the last three years or has a family member who was an executive officer of the Company in the last three years;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 81pt;text-indent: -18pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 81pt;text-indent: -18pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">ii.</font><font style="display: inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 9pt 0pt 0pt;"></font><font style="display: inline;"></font><font style="display: inline;">whether the director or a family member accepted compensation from the Company in excess of $120,000 during any 12 consecutive months in the last three years, other than remuneration for services provided as a director;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 81pt;text-indent: -18pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 81pt;text-indent: -18pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">iii.</font><font style="display: inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 6pt 0pt 0pt;"></font><font style="display: inline;"></font><font style="display: inline;">whether the director or a family member is a partner at the Company&#x2019;s auditor, or was an employee of the auditor and worked on the Company&#x2019;s audit in the last three years, or the director is an employee of the auditor, or a family member is an employee of the auditor and works on the Company&#x2019;s audit;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 81pt;text-indent: -18pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 81pt;text-indent: -18pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">iv.</font><font style="display: inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 9pt 0pt 0pt;"></font><font style="display: inline;"></font><font style="display: inline;">whether the director or a family member is or has been in the last three years an executive officer of another entity where any executive officer served on the Compensation Committee at the same time; and</font>
		</p>
		<p style="margin:0pt 0pt 0pt 81pt;text-indent: -18pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 81pt;text-indent: -18pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">v.</font><font style="display: inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 12pt 0pt 0pt;"></font><font style="display: inline;">whether the Company made or received payments in the last three years in excess of the greater of 2% of the counterparty&#x2019;s (i.e., Alliant&#x2019;s</font><font style="display: inline;">) gross</font><font style="display: inline;"> revenue and $1 million to an organization where a director is an employee or has a family member that is an executive officer. During 2014 - 2016, Tutor Perini paid fees to Alliant which were less than 2% of Alliant&#x2019;s consolidated gross revenue in each respective year and, therefore, was below the materiality threshold established by </font><font style="display: inline;">NYSE Listing Standard 303A.02(b)</font><font style="display: inline;">. In fact, for 2016, the $8.9 million the Company paid to Alliant for services rendered equated to less than 1% of Alliant&#x2019;s consolidated gross revenue, or less than half of the level identified by NYSE as being material.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">Finally, the Board considered other qualitative factors, including those that could result in only the appearance of a lack of independence, and concluded that Mr. Arkley is independent in both fact and appearance.</font><font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">F</font><font style="display: inline;font-weight:bold;">or the reasons set forth above, we strongly disagree with the reasoning behind ISS&#x2019;s withhold recommendation</font><font style="display: inline;font-weight:bold;">,</font><font style="display: inline;font-weight:bold;"> and the Board re-affirms its recommendation that shareholders vote FOR the election of Peter Arkley.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;text-decoration:underline;">Michael R. Klein and Donald D. Snyder</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;text-decoration:underline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">ISS has concurred with the Board&#x2019;s recommendation that shareholders vote FOR the election of Michael R. Klein and Donald D. Snyder. However, GL has recommended a withhold vote for</font><font style="display: inline;"> both of them</font><font style="display: inline;">.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">In its proxy analysis report, GL points to concerns over the Company&#x2019;s </font><font style="display: inline;">history with respect to the </font><font style="display: inline;">advisory resolution on executive compensation (Proposal 4) as the primary driver for its conclusion to recommend a withhold vote. The Company disagrees with this conclusion, as it believes that the Compensation Committee has taken considerable and significant steps toward improving the Company&#x2019;s executive compensation program</font><font style="display: inline;">. &nbsp;</font><font style="display: inline;">M</font><font style="display: inline;">e</font><font style="display: inline;">ssrs. Klein&#x2019;s and Snyder&#x2019;s leadership has been instrumental in the</font><font style="display: inline;"> Compensation Committee&#x2019;s and Board&#x2019;s efforts to address the views of our shareholders and proxy advisory firms on these matters, as detailed in the Proxy Statement and below in the dis</font><font style="display: inline;">cussion related to Proposal 4. </font><font style="display: inline;">Despite recognizing </font><font style="display: inline;">our</font><font style="display: inline;"> responsiveness to shareholder views on these matters, GL appears to base its recommendation on history, rather than give credit (as ISS does) for the significant steps the Compensation Committee and the Board have taken and have committed to continue taking.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">F</font><font style="display: inline;font-weight:bold;">or the reasons set forth above and below, we strongly disagree with the reasoning behind GL&#x2019;s withhold recommendations</font><font style="display: inline;font-weight:bold;">,</font><font style="display: inline;font-weight:bold;"> and the Board re-affirms its recommendation that shareholders vote FOR the election of Michael R. Klein and Donald D. Snyder.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">&nbsp;&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">&nbsp;&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">PROPOSAL 3 &#x2013; APPROVAL OF THE TUTOR PERINI CORPORATION INCENTIVE COMPENSATION PLAN</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">GL has concurred with the Board&#x2019;s recommendation that shareholders vote FOR Proposal 3 &#x2013; Approval of the Tutor Perini Corporation Incentive Compensation Plan (the &#x201C;Plan&#x201D;).</font><font style="display: inline;"> Conversely, ISS has recommended a vote against the approval of the Plan. </font><font style="display: inline;">ISS analyzed the Plan using its Equity Plan Score Card model and the Plan received a &#x201C;passing&#x201D; score, which is what ISS requires to recommend in favor of the Plan. </font><font style="display: inline;">In spite of the Plan&#x2019;s </font><font style="display: inline;">&#x201C;</font><font style="display: inline;">passing</font><font style="display: inline;">&#x201D;</font><font style="display: inline;"> score, ISS </font><font style="display: inline;">pointed to </font><font style="display: inline;">an</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">&#x201C;</font><font style="display: inline;">overriding</font><font style="display: inline;">" qualitative</font><font style="display: inline;"> factor</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">in exercising </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">

			<font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">3</font><font style="display: inline;font-size:10pt;"></font>

		</p>

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;">discretion to</font><font style="display: inline;"> recommend</font><font style="display: inline;"> &nbsp;a</font><font style="display: inline;"> vote against the Plan. Specifically, ISS indicated that &#x201C;there is a </font><font style="display: inline;">pay</font><font style="display: inline;">-for-</font><font style="display: inline;">performance</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">misalignment that is driven, in part, by the company&#x2019;s equity usage and the plan is not sufficiently broad based.&#x201D;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">It is common practice for public companies to have incentive plans that utilize share-based awards to reward and motivate their executives, and executives of public companies expect share-based awards to be part of their long-term compensation. Accordingly, the Board recommends that the Company&#x2019;s shareholders approve the Plan for the following reasons:</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-family:Symbol;">&#xF0B7;</font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">The Plan is important to ensure the Company is able to continue its long-term, share-based incentive strategy, which is a critical element of its </font><font style="display: inline;">Pay-for-Performance</font><font style="display: inline;"> compensation philosophy designed to align executive incentives with the creation of shareholder value; </font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-family:Symbol;">&#xF0B7;</font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">The Plan is important to ensure that the Company is able to retain and attract the executive talent needed to ensure the future success of the Company, which is especially critical at this time given the unprecedented current market demand, the significant project opportunities </font><font style="display: inline;">anticipated</font><font style="display: inline;"> and the fierce competition that the Company faces for executive talent; and</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;line-height:107.08%;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-family:Symbol;">&#xF0B7;</font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;font-weight:bold;">The Plan is important because, without it, the Company will need to rely on significant cash</font><font style="display: inline;font-weight:bold;"> awards</font><font style="display: inline;font-weight:bold;"> in lieu of equity</font><font style="display: inline;font-weight:bold;">&nbsp;</font><font style="display: inline;font-weight:bold;">awards</font><font style="display: inline;font-weight:bold;">&nbsp;</font><font style="display: inline;font-weight:bold;">for future long-term incentive compensation to key executives. This could have an adverse impact on the Company&#x2019;s future financial results and, potentially, its stock valuation, and could also </font><font style="display: inline;font-weight:bold;">impede the Company&#x2019;s ability to retain and attract executive talent, as well as</font><font style="display: inline;font-weight:bold;">&nbsp;</font><font style="display: inline;font-weight:bold;">limit the Company&#x2019;s ability to execute on certain strategic and capital allocation plans, such as possible mergers and acquisitions or the potential payment of future cash dividends. More importantly, without the Plan, incentive compensation for key executives will increasingly be less aligned with the Company&#x2019;s goals and shareholders&#x2019; interests in long-term value creation.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">With respect to ISS&#x2019;s assertion that the Plan is not sufficiently broad based, the Company has already (in early 2017) granted certain long-term equity awards under its current long-term incentive compensation plan to various senior and mid-level operations and finance executives throughout the Company. The Company intends to continue the practice of granting such awards to a broader set of key executives who are below the level of named executive officers (NEOs). However, if shareholders do not approve the proposed Plan, the Company will have no mechanism in place to continue doing so other than cash, which, as noted above, is less </font><font style="display: inline;">efficient</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">than equity.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">Accordingly, the Board of Directors recommends a vote FOR the approval of the Tutor Perini Corporation Incentive Compensation Plan to ensure the Company is able to continue its long-term, share-based incentive strategy, which aligns key executives&#x2019; incentive compensation with the Company&#x2019;s goals and shareholders&#x2019; interests, and to avoid any potential adverse impacts associated with the use of significant cash in lieu of equity for future long-term compensation awards. Approval of the Plan will also allow the Company to </font><font style="display: inline;font-weight:bold;">retain and </font><font style="display: inline;font-weight:bold;">attract executive talent, which is especially critical at this time given the unprecedented current market demand, the significant project opportunities </font><font style="display: inline;font-weight:bold;">anticipated</font><font style="display: inline;font-weight:bold;"> and the fierce competition for executive talent within our industry.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&nbsp;&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&nbsp;&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">PROPOSAL 4</font><font style="display: inline;font-weight:bold;"> &#x2013; </font><font style="display: inline;font-weight:bold;">ADVISORY (NON-BINDING) VOTE ON TUTOR PERINI&#x2019;S EXECUTIVE COMPENSATION</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;background-color:;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">Both ISS and GL acknowledged</font><font style="display: inline;"> the</font><font style="display: inline;"> progress </font><font style="display: inline;">the Company </font><font style="display: inline;">has made in addressing the issues raised by the Company&#x2019;s shareholders, particular</font><font style="display: inline;">ly</font><font style="display: inline;"> noting</font><font style="display: inline;"> the significant improvements to the </font><font style="display: inline;">executive compensation program, as well as the enhanced and more transparent </font><font style="display: inline;">disclosures</font><font style="display: inline;"> in the Proxy Statement</font><font style="display: inline;">.</font><font style="display: inline;"> The</font><font style="display: inline;">se</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">improvements </font><font style="display: inline;">led </font><font style="display: inline;">ISS </font><font style="display: inline;">to </font><font style="display: inline;">recommend a vote for the election of the </font><font style="display: inline;">members of the </font><font style="display: inline;">Compensation Committee</font><font style="display: inline;"> (reversing the position it took last year)</font><font style="display: inline;">.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">The following summarizes key actions taken by the Company </font><font style="display: inline;">in response to issues raised by </font><font style="display: inline;">our </font><font style="display: inline;">shareholders and proxy advisory firms, </font><font style="display: inline;">which are further discussed in </font><font style="display: inline;">our</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">Proxy</font><font style="display: inline;"> Statement</font><font style="display: inline;">:</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:0pt;">
			<tr>
				<td valign="middle" style="width:27.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 1pt">
						<font style="display: inline;font-size:1pt;">&#xFEFF;</font></p>
				</td>
				<td valign="middle" style="width:00.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:02.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:69.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:27.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;height:12.90pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">Concern</font></p>
				</td>
				<td valign="middle" style="width:00.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;height:12.90pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:02.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;height:12.90pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:69.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;height:12.90pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">How We Are Being Responsive</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:27.88%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;height:72.00pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;line-height:105.83%;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">1.</font><font style="display: inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 12pt 0pt 0pt;"></font><font style="display: inline;">Need for greater transparency regarding shareholder outreach feedback and actions taken in response to that feedback</font></p>
				</td>
				<td valign="top" style="width:00.22%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;height:72.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:02.84%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;height:72.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:69.06%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;height:72.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">We provided details in the Compensation, Discussion and Analysis (&#x201C;CD&amp;A&#x201D;) section of our Proxy</font><font style="display: inline;"> Statement</font><font style="display: inline;"> regarding concerns expressed by shareholders and independent proxy advisors and the various changes we are implementing to address these concerns, from both a compensation and governance perspective.</font><font style="display: inline;"> The more significant of these concerns are summarized herein.</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 10pt;line-height:115%;font-family:Times New Roman;font-size: 10pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">

			<font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">4</font><font style="display: inline;font-size:10pt;"></font>

		</p>

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 10pt;line-height:115%;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;"></font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 1pt">
			<font style="display: inline;font-size:1pt;">&#xFEFF;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:0pt;">
			<tr>
				<td valign="middle" style="width:27.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;height:12.90pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">Concern</font></p>
				</td>
				<td valign="middle" style="width:00.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;height:12.90pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:02.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;height:12.90pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:69.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;height:12.90pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">How We Are Being Responsive</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:27.88%;height:126.00pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;line-height:105.83%;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">2.</font><font style="display: inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 12pt 0pt 0pt;"></font><font style="display: inline;">Mixed responsiveness to low Say on Pay vote</font></p>
				</td>
				<td valign="top" style="width:00.22%;height:126.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:02.84%;height:126.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:69.06%;height:126.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">The Company and Compensation Committee are taking various significant steps as detailed in the CD&amp;A</font><font style="display: inline;"> and in this table</font><font style="display: inline;"> to make executive compensation and governance improvements requested by shareholders.</font><font style="display: inline;"> &nbsp;I</font><font style="display: inline;">n early 2017, we invited our top 25 institutional shareholders, representing more than 60% of our outstanding shares, to discuss their views and proxy voting guidelines with respect to our executive compensation program and disclosures.</font><font style="display: inline;"> All of the </font><font style="display: inline;">resulting discussions with</font><font style="display: inline;"> shareholders </font><font style="display: inline;">were attended by</font><font style="display: inline;"> Don Snyder,</font><font style="display: inline;color:#000000;"> the chair of our Compensation Committee</font><font style="display: inline;">, Gary Smalley, our Chief Financial Officer, and Jorge Casado, our Vice President of Investor Relations, </font><font style="display: inline;">who</font><font style="display: inline;"> continue to make themselves available for further discussions with shareholders.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:27.88%;background-color: #CCEEFF;height:90.00pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;line-height:105.83%;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">3.</font><font style="display: inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 12pt 0pt 0pt;"></font><font style="display: inline;">CEO Pay-for-Performance</font></p>
				</td>
				<td valign="top" style="width:00.22%;background-color: #CCEEFF;height:90.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:02.84%;background-color: #CCEEFF;height:90.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:69.06%;background-color: #CCEEFF;height:90.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">No salary increase or new equity awards were approved for our CEO (or for any other NEO) in 2016. It should be noted that the Company&#x2019;s stock price return was outstanding in 2016 (67.3%, compared to a 36.3% average for the 12 public companies in the Company&#x2019;s peer group) and has also been impressive over the 5-year period between 2012 and 2016 (126.9% return, compared to a 62.5% average peer group return).</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:27.88%;height:270.00pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;line-height:105.83%;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">4.</font><font style="display: inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 12pt 0pt 0pt;"></font><font style="display: inline;"></font><font style="display: inline;">Level of total CEO compensation</font></p>
				</td>
				<td valign="top" style="width:00.22%;height:270.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:02.84%;height:270.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:69.06%;height:270.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Mr. Tutor&#x2019;s total compensation is lower than several of the CEOs in our peer group. Besides comparing our CEO&#x2019;s total compensation to our peer group, we also utilized our peer group to assess certain quantitative Pay-for-Performance metrics of CEO compensation that are evaluated by independent proxy advisory firms. Based on this assessment, we determined that our CEO&#x2019;s compensation is reasonable and represents a &#x201C;low level of concern&#x201D; relative to the CEO compensation of our public company peers and relative to our 3-year and 5-year share-price performance as compared with those peers.</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">In addition, while our Pay-for-Performance-based executive compensation program can reward strong performance with high compensation, our NEOs can receive and have, in fact, received far less than their targeted and proxy-reported compensation when performance goals are not achieved, as in 2015, when Mr. Tutor forfeited approximately $8.3 million of unearned short- and long-term incentive compensation due to lack of achievement toward his performance targets. To make these points more clear, we provided better disclosure in the Proxy </font><font style="display: inline;">Statement </font><font style="display: inline;">regarding Mr. Tutor&#x2019;s value to the Company</font><font style="display: inline;"> (as summarized in more detail below)</font><font style="display: inline;">, the Company&#x2019;s historical private company heritage and the key differences between Mr. Tutor and other CEOs in our industry to help explain his level of compensation. Finally, Mr. Tutor&#x2019;s total realized compensation</font><font style="display: inline;"> (compensation that was actually received as opposed to what was awarded)</font><font style="display: inline;"> over the last three years was significantly lower than his total compensation as required to be reported in the Proxy </font><font style="display: inline;">Statement </font><font style="display: inline;">on the Summary Compensation Table.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:27.88%;background-color: #CCEEFF;height:90.00pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;line-height:105.83%;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">5.</font><font style="display: inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 12pt 0pt 0pt;"></font><font style="display: inline;">Lack of diversity in performance metrics for short-term incentive compensation</font></p>
				</td>
				<td valign="top" style="width:00.22%;background-color: #CCEEFF;height:90.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:02.84%;background-color: #CCEEFF;height:90.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:69.06%;background-color: #CCEEFF;height:90.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">In response to suggestions that the Company utilize metrics other than pre-tax income for annual incentive compensation, beginning in 2017, the Company and Compensation Committee will be implementing the following performance metrics for short-term (annual bonus) incentive compensation: pre-tax income (50% weighting); operating cash flow (30%); safety (10%); and individual performance (10%).</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 10pt;line-height:115%;font-family:Times New Roman;font-size: 10pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">

			<font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">5</font><font style="display: inline;font-size:10pt;"></font>

		</p>

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 10pt;line-height:115%;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;"></font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 1pt">
			<font style="display: inline;font-size:1pt;">&#xFEFF;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:27.88%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;line-height:105.83%;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">Concern</font></p>
				</td>
				<td valign="top" style="width:00.22%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;line-height:105.83%;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:02.84%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;line-height:105.83%;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:69.06%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">How We Are Being Responsive</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:27.88%;height:108.00pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;line-height:105.83%;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">6.</font><font style="display: inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 12pt 0pt 0pt;"></font><font style="display: inline;">Lack of diversity in performance metrics for long-term incentive compensation</font></p>
				</td>
				<td valign="top" style="width:00.22%;height:108.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:02.84%;height:108.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:69.06%;height:108.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">During 2017, the Company and the Compensation Committee will implement a policy requiring all new long-term incentive awards to include at least one relative return metric, such as 3-year shareholder return (TSR), and will discontinue its use of pre-tax income as a performance measure for long-term incentive awards. In fact, the Company began implementing performance metrics other than pre-tax income, including relative 3-year TSR, for certain of its earlier long-term incentive awards.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:27.88%;background-color: #CCEEFF;height:72.00pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;line-height:105.83%;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">7.</font><font style="display: inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 12pt 0pt 0pt;"></font><font style="display: inline;">Short (one-year) performance periods for most long-term incentive compensation awards</font></p>
				</td>
				<td valign="top" style="width:00.22%;background-color: #CCEEFF;height:72.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:02.84%;background-color: #CCEEFF;height:72.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:69.06%;background-color: #CCEEFF;height:72.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Beginning in 2017, the Company and Compensation Committee will no longer use one-year performance periods for future long-term incentive awards.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:27.88%;height:72.00pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;line-height:105.83%;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">8.</font><font style="display: inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 12pt 0pt 0pt;"></font><font style="display: inline;">Lack of a relative return-based metric for most long-term incentive compensation awards</font></p>
				</td>
				<td valign="top" style="width:00.22%;height:72.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:02.84%;height:72.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:69.06%;height:72.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">As mentioned above, beginning in 2017, the Company and Compensation Committee will be implementing at least one long-term, relative return metric, such as 3-year TSR relative to the Company&#x2019;s peer group, for its long-term incentive compensation awards.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:27.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 1pt">
						<font style="display: inline;font-size:1pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:00.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:02.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:69.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:27.88%;background-color: #CCEEFF;height:108.00pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;line-height:105.83%;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">9.</font><font style="display: inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 12pt 0pt 0pt;"></font><font style="display: inline;">Alignment of annual incentive compensation between CEO and other NEOs</font></p>
				</td>
				<td valign="top" style="width:00.22%;background-color: #CCEEFF;height:108.00pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;line-height:105.83%;text-indent: -18pt;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:02.84%;background-color: #CCEEFF;height:108.00pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;line-height:105.83%;text-indent: -18pt;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:69.06%;background-color: #CCEEFF;height:108.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:105.83%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Beginning in 2017, the Compensation Committee has improved the alignment between the CEO and other NEOs with respect to annual incentive compensation payout opportunities. Previously, through 2016, NEOs&#x2019; potential annual bonus payouts were capped at 100% of target, except for the CEO&#x2019;s bonus, which was capped at approximately 143% of target. Going forward, NEOs other than the CEO will also be eligible for a maximum potential bonus payout that is above 100% of target. Maximum payouts that are above 100% of target can only occur in cases where performance is also above target.</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">Despite the </font><font style="display: inline;">improvements</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">noted by ISS and GL regarding the Compensation Committee&#x2019;s actions in response to shareholder concerns, both are recommending a vote against Proposal 4, citing primarily </font><font style="display: inline;">the amount of </font><font style="display: inline;">Mr. Tutor&#x2019;s total compensation, which they assess to be high relative to the compensation for the peer groups they have selected, and </font><font style="display: inline;">the amount of </font><font style="display: inline;">Mr. Tutor&#x2019;s long-term </font><font style="display: inline;">equity </font><font style="display: inline;">compensation, which in their opinion is high and misaligned with the Co</font><font style="display: inline;">mpany&#x2019;s performance.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">In their </font><font style="display: inline;">respective reports</font><font style="display: inline;">, however, neither ISS nor GL adequately acknowledged the unique factors underlying the Compensation Committee&#x2019;s executive compensation decisions: Mr. Tutor&#x2019;s unique leadership role in the growth and development of the Company into a strong, vertically integrated market leader; his key involvement throughout the Company&#x2019;s unique history; Tutor Perini&#x2019;s private company legacy; and</font><font style="display: inline;"> the importance of retaining</font><font style="display: inline;"> Mr. Tutor&#x2019;s </font><font style="display: inline;">services </font><font style="display: inline;">given the current opportunities in the construction industry, particularly in the higher-margin Civil segment</font><font style="display: inline;">, where Mr. Tutor&#x2019;s knowledge and skills are particularly </font><font style="display: inline;">valuable</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">to the Company&#x2019;s future success</font><font style="display: inline;">.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">Since the 2008 merger that created Tutor Perini, Mr. Tutor has been a key driving force&#x2014;both strategically and operationally&#x2014;behind the Company&#x2019;s growth and evolution into a stronger, vertically integrated and broader geographic player in the market. Mr. Tutor has transformed the Company from a firm primarily involved in lower-margin building work to one that today boasts a broad nationwide footprint with a large component of higher-margin civil and specialty construction services. With all </font><font style="display: inline;">of </font><font style="display: inline;">the recent focus on and public support for infrastructure spending, we see an unprecedented level of current bidding activity for large civil projects and anticipate an even greater level of demand for our services over the next several years. Consequently, our growth over the next several years is expected to be driven by a significant volume of higher-margin civil project opportunities and a considerable volume of larger, complex building project opportunities.</font><font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">Mr. Tutor has a high degree of direct involvement in strategic planning and decisions, and an in-depth knowledge and involvement in many operational functions, from project selection and bidding decisions to day-to-day client relationship management and oversight of many of the Company&#x2019;s largest projects. </font><font style="display: inline;">He also plays an instrumental role in navigating and negotiating the legal processes related </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">

			<font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">6</font><font style="display: inline;font-size:10pt;"></font>

		</p>

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;">to various disputes over our claims, unapproved change orders and other matters.</font><font style="display: inline;"> Mr. Tutor&#x2019;s level of direct involvement in all of these functions is truly unique among CEOs in our industry. All of this factors highly in the Compensation Committee&#x2019;s decision-making process and its views on the appropriateness of Mr. Tutor&#x2019;s compensation.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">As discussed in the Proxy</font><font style="display: inline;"> Statement</font><font style="display: inline;">, the Compensation Committee has selected a peer group that represents an industry-focused group of companies with which Tutor Perini competes for projects and executive talent. The Compensation Committee also believes that this peer group provides a better representation of the competition that influences the Company&#x2019;s compensation decisions compared to other peer groups selected and used by certain proxy advisory firms that consider peer companies across a wider spectrum of industries. By using an industry</font><font style="display: inline;">-</font><font style="display: inline;">focused peer group, our assessment of our NEOs&#x2019; compensation relative to peers is more meaningful because both our Company and our peers are similarly impacted by the same economic and political fact</font><font style="display: inline;">ors</font><font style="display: inline;">,</font><font style="display: inline;"> as well as </font><font style="display: inline;">by more comparable </font><font style="display: inline;">market dynamics.</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">While Mr. Tutor&#x2019;s compensation is higher than the compensation of CEOs at some of the Company&#x2019;s public peers, it is also lower than the pay packages of several other CEOs in our peer group. The Board believes Mr. Tutor&#x2019;s compensation is comparable to the compensation of CEOs at non-public peers and knows that it is significantly lower than his compensation under the Company&#x2019;s predecessor, </font><font style="display: inline;">the privately held </font><font style="display: inline;">Tutor-Saliba.</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">Mr. Tutor&#x2019;s compensation</font><font style="display: inline;"> history as CEO of Tutor-Saliba</font><font style="display: inline;"> was an important factor in the negotiation of the amount and components of Mr. Tutor&#x2019;s compensation at the time of the 2008 mer</font><font style="display: inline;">ger of Perini and Tutor-Saliba </font><font style="display: inline;">and was reflected in Mr. Tutor&#x2019;s em</font><font style="display: inline;">ployment agreement at the time. This compensation history</font><font style="display: inline;"> provides critical context for the Company&#x2019;s approach to Mr. Tutor&#x2019;s compensation and helps form the Compensation Committee&#x2019;s views on the level and components of compensation that are appropriate and necessary to incentivize and retain Mr. Tutor&#x2019;s critical services for the benefit of the Company and all of our shareholders.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">Because we believe the construction industry is at an inflection point with many significant new opportunities on the horizon, it is particularly important that we maintain a highly competitive executive compensation program to </font><font style="display: inline;">retain and </font><font style="display: inline;">attract the top talent needed to successfully capitalize on these future opportunities. Accordingly, we target the upper quartile of total compensation relative to our peer group for our most valuable employees, including our NEOs.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">Importantly, </font><font style="display: inline;">Mr. Tutor&#x2019;s long-term equity awards have all been performance-based. For example, under </font><font style="display: inline;">his two three-year total shareholder return</font><font style="display: inline;"> (&#x201C;TSR&#x201D;)</font><font style="display: inline;"> performance awards, Mr. Tutor will only receive his target payout if the Company</font><font style="display: inline;">&#x2019;s TSR relative to its public company peers is </font><font style="display: inline;">at the 50</font><font style="display: inline;font-size:5pt;vertical-align:super;line-height:100%">th</font><font style="display: inline;"> percenti</font><font style="display: inline;">le</font><font style="display: inline;">.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">With regard to forfeited short- and long-term incentive compensation</font><font style="display: inline;">,</font><font style="display: inline;"> neither ISS nor GL addressed the significant impact of Mr. Tutor</font><font style="display: inline;">&#x2019;s</font><font style="display: inline;"> forfeitures in 2015 and 2016</font><font style="display: inline;"> ($8.9 million),</font><font style="display: inline;"> nor addressed the fact that</font><font style="display: inline;"> his</font><font style="display: inline;"> total realized compensation</font><font style="display: inline;"> (compensation that was actually received as opposed to what was awarded)</font><font style="display: inline;">, &nbsp;</font><font style="display: inline;">as </font><font style="display: inline;">reflected in the Total Realized Compensation table </font><font style="display: inline;">on page </font><font style="display: inline;">43 of</font><font style="display: inline;"> the Proxy</font><font style="display: inline;"> Statement</font><font style="display: inline;">, was substantially lower than </font><font style="display: inline;">his total</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">compensation </font><font style="display: inline;">as </font><font style="display: inline;">reported in </font><font style="display: inline;">the Summary Compensation Table</font><font style="display: inline;"> on page 41 of the Proxy Statement</font><font style="display: inline;">.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">It is also important to note that Mr. Tutor&#x2019;s compensation is defined in his amended employment agreement, which expires on December 31, 2018 and is largely consistent with the agreement that he entered into at the time of the 2008 merger that created the Company. </font><font style="display: inline;">As such, the</font><font style="display: inline;"> Company is bound by the terms of </font><font style="display: inline;">the</font><font style="display: inline;"> contract and cannot freely </font><font style="display: inline;">revise the terms of </font><font style="display: inline;">Mr.</font><font style="display: inline;"> Tutor&#x2019;s compensation prior to the expiration of his </font><font style="display: inline;">employment agreement. </font><font style="display: inline;">Despite these contractual requirements, the Compe</font><font style="display: inline;">nsation Committee has increased</font><font style="display: inline;"> Mr. Tutor</font><font style="display: inline;">&#x2019;s</font><font style="display: inline;"> base salary </font><font style="display: inline;">only once </font><font style="display: inline;">since the 2008 merger. </font><font style="display: inline;">The Compensation Committee neither increased Mr. Tutor&#x2019;s base salary nor awarded him </font><font style="display: inline;">any </font><font style="display: inline;">additional</font><font style="display: inline;"> equity in 2016.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">Based on the above, the Company strongly disagrees with the reasoning behind the </font><font style="display: inline;font-weight:bold;">&#x201C;against&#x201D;</font><font style="display: inline;font-weight:bold;">&nbsp;</font><font style="display: inline;font-weight:bold;">recommendations of ISS and GL, and </font><font style="display: inline;font-weight:bold;">the Board</font><font style="display: inline;font-weight:bold;">&nbsp;</font><font style="display: inline;font-weight:bold;">continue</font><font style="display: inline;font-weight:bold;">s</font><font style="display: inline;font-weight:bold;"> to </font><font style="display: inline;font-weight:bold;">recommend</font><font style="display: inline;font-weight:bold;">&nbsp;</font><font style="display: inline;font-weight:bold;">that </font><font style="display: inline;font-weight:bold;">shareholders</font><font style="display: inline;font-weight:bold;">&nbsp;</font><font style="display: inline;font-weight:bold;">vote FOR Proposal 4</font><font style="display: inline;font-weight:bold;"> &nbsp;-</font><font style="display: inline;font-weight:bold;"> Advisory (Non-Binding) Vote on Tutor Perini&#x2019;s Executive Compensation</font><font style="display: inline;font-weight:bold;">.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">*************************</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">Thank you for your</font><font style="display: inline;font-weight:bold;"> careful</font><font style="display: inline;font-weight:bold;"> consideration</font><font style="display: inline;font-weight:bold;"> of the matters discussed in this letter</font><font style="display: inline;font-weight:bold;">.</font><font style="display: inline;font-weight:bold;"> We value your input and opinions and would be pleased to discuss further any concerns or questions you may have.</font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">

			<font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">7</font><font style="display: inline;font-size:10pt;"></font>

		</p>

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr>
	</div></body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
