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750 800 850 900 950 1000 1050 1100 1150 Turner Building Cost Index Quarter 1st Quarter 2019 4th Quarter 2018 3rd Quarter 2018 2nd Quarter 2018 Index 1135 1120 1105 1089 % 1.34 1.36 1.47 1.68 Year 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 Average Index 1096 1038 989 943 902 864 830 812 799 832 908 854 793 % 5.6 5.0 4.8 4.5 4.4 4.1 2.1 1.6 -4.0 -8.4 6.3 7.7 10.6 The Turner Building Cost Index is determined by the following factors considered on a nationwide basis: labor rates and productivity, material prices and the competitive condition of the marketplace. 2019 First Quarter Forecast “Raw materials have seen some de-escalation since the end of 2018. Resources such as natural gas continue to have dramatic fluctuations month to month. Fabricated material prices stayed stable in the first quarter of 2019.” PPG Science Pavilion Pittsburgh, Pennsylvania 2015 ©2019 Turner Construction Company turnerconstruction.com/cost-index 2016 Attilio Rivetti Vice President 2017 2018 2019

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Turner Building Cost Index

Quarter1st Quarter 20194th Quarter 2018 3rd Quarter 2018 2nd Quarter 2018

Index11351120 1105 1089

%1.341.36 1.47 1.68

Year20182017 2016 2015 2014 20132012201120102009200820072006

Average Index10961038 989 943 902 864830812799832908854793

%5.65.04.84.5 4.4 4.12.11.6

-4.0-8.46.37.7

10.6

The Turner Building Cost Index is determined by the following factors considered on a nationwide basis: labor rates and productivity, material prices and the competitive condition of the marketplace.

2019 First Quarter Forecast

“Raw materials have seen

some de-escalation since the

end of 2018. Resources such

as natural gas continue to have

dramatic fluctuations month

to month. Fabricated material

prices stayed stable in the first

quarter of 2019.”

PPG Science PavilionPittsburgh, Pennsylvania

2015

©2019 Turner Construction Company turnerconstruction.com/cost-index

2016

Attilio RivettiVice President 2017 2018 2019

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