Granite Awarded $61 Million Dam Removal Project in California

  Granite Awarded $61 Million Dam Removal Project in California

Business Wire

WATSONVILLE, Calif. -- May 10, 2013

Granite Construction Incorporated (NYSE: GVA) announced today that it has been
awarded a $61 million dam removal contract by California American Water, a
subsidiary of water and wastewater utility American Water. Granite expects to
book the project into backlog during the second quarter of 2013.

Located in Monterey County, the Carmel River Reroute and San Clemente Dam
Removal Project involves rerouting 3,000 feet of the Carmel River into the San
Clemente Creek. Scope of the work includes the removal of the San Clemente and
Old Carmel River Dams and the creation of a new combined flow reach and
reroute channel. The existing dam location will be restored with a focus on
steelhead trout passage and upland habitat restoration.

“We’re proud to have been selected for this innovative project, which solves a
safety issue for the community and benefits the Carmel River and its
wildlife,” said James H. Roberts, Granite president and chief executive
officer.

Construction is scheduled to start in July 2013 and will take approximately 28
months to complete.

About Granite

Through its offices and subsidiaries nationwide, Granite Construction
Incorporated (NYSE: GVA) is one of the nation’s largest infrastructure
contractors and construction materials producers. Incorporated in 1922,
Granite serves public- and private-sector clients on projects both small and
large. Granite’s project teams represent some of the best in the industry
serving owners in the transportation, power, federal, tunneling, underground,
and industrial/mining and water resources markets. In 2013, the Company was
recognized by the Ethisphere Institute as one of the World’s Most Ethical
Companies for the fourth year in a row. For more information please visit
www.graniteconstruction.com.

Contact:

Granite Construction Incorporated
Jacque Fourchy, 831-761-4741