Sterling Joint Venture Selected on Highway Project in Colorado with Contract Value Exceeding $200 Million

THE WOODLANDS, Texas–(BUSINESS WIRE)–Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the
Company”) today announced that its subsidiary, Ralph L. Wadsworth
Construction Company, LLC (“RLW”) and its joint venture partner, SEMA
Construction, have been selected by the Colorado Department of
Transportation (“CDOT”) to design and perform the reconstruction work on
I-25 in Weld and Larimer counties in Colorado. Upon successful
completion of design finalization and execution of the Construction
Manager/General Contractor (CMGC) contract, the project is estimated to
exceed $200 million and is expected to begin construction in mid-2019.

The project will entail the widening of a stretch of Interstate 25 in
the vicinity of Mead, approximately 35 miles north of Denver between
SH-66 and the SH-402 Interchange. Sterling and SEMA will expand the
highway from two lanes in each direction to accommodate two general
purpose lanes and one express lane in each direction. In addition to the
roadway widening, all interchanges within the project limits will be
rebuilt, which includes replacing the existing bridges.

Joe Cutillo, Sterling’s CEO commented, “The selection of our joint
venture with SEMA by CDOT for this major highway project is
representative of our strategy to pursue heavy highway awards where we
can deliver greater value to the project owner through our extensive
design-build capabilities. Mead and its surrounding communities comprise
a rapidly growing suburb within the greater-Denver area and there is a
pressing need to accommodate increasing vehicular traffic as well as
enhance various multi-modal connections. Colorado is an important part
of our strategic growth plans throughout the Rocky Mountain region for
our heavy civil construction business, and we are very excited about
this and other upcoming opportunities”

Sterling, a Delaware corporation, is a construction company that
specializes in heavy civil infrastructure construction and
infrastructure rehabilitation as well as residential construction
projects, primarily in Arizona, California, Colorado, Hawaii, Nevada,
Texas, Utah and other states in which there are feasible construction
opportunities. Heavy civil construction projects include highways,
roads, bridges, airfields, ports, light rail, water, wastewater and
storm drainage systems, foundations for multi-family homes, commercial
concrete projects and parking structures. Residential construction
projects include concrete foundations for single-family homes.

This press release includes certain statements that fall within the
definition of “forward-looking statements” under the Private Securities
Litigation Reform Act of 1995. Any such statements are subject to risks
and uncertainties, including overall economic and market conditions,
federal, state and local government funding, competitors’ and customers’
actions, and weather conditions, which could cause actual results to
differ materially from those anticipated, including those risks
identified in the Company’s filings with the Securities and Exchange
Commission. Accordingly, such statements should be considered in light
of these risks. Any prediction by the Company is only a statement of
management’s belief at the time the prediction is made. There can be no
assurance that any prediction once made will continue thereafter to
reflect management’s belief, and the Company does not undertake to
update publicly its predictions or to make voluntary additional
disclosures of nonpublic information, whether as a result of new
information, future events or otherwise.

Contacts

Sterling Construction Company, Inc.
Jennifer Maxwell, 281-951-3560
Director
of Investor Relations
or
Investor Relations Counsel:
The
Equity Group Inc.
Fred Buonocore, 212-836-9607
Kevin Towle,
212-836-9620