1、GREAT LAKES DREDGE&DOCK CORPORATIONANNUAL REPORT 2023Photo this page:Cutter Dredge Carolina deepening Corpus Christi Ship Channel,Texas,for the U.S.Army Corps of Engineers,Galveston District.(Photo:Thomas Salter)Front cover photo:The Hopper Dredge Ellis Island and ATB Douglas B.Mackie.(Photo:Kevin“C
2、hase”Pittman,AB,GLDD)For over 130 years,Great Lakes Dredge&Dock Corporation(“Great Lakes”or the“Company”)has been the leading provider of dredging services in the United States,and owns and operates the largest and most diverse fleet in the U.S.dredging industry,comprised of approximately 200 specia
3、lized vessels.In addition,Great Lakes is fully engaged in expanding its core business into the rapidly developing U.S.offshore wind energy industry.The Company also has a long history of performing significant international projects.Great Lakes employs experienced civil,ocean and mechanical engineer
4、ing staff in its estimating,production and project management functions.Our Incident&Injury-Free(IIF)safety management program is integrated into all aspects of the Companys culture.In 2023,the Company showed a positive transition and ended the year strong with a notable upswing in performance,as a
5、result of our commitment to adapt and navigate through a challenging business landscape.Our focus is on the future of Great Lakes,and we believe with our record backlog,improved fleet and sustainable cost savings,we can maintain our position as the leader in the dredging industry while continuing to
6、 provide quality work to our clients,a safe work environment for our employees and positive returns for our shareholders.GREAT LAKES DREDGE&DOCK CORPORATIONNORTH AMERICAS LEADERFINANCIAL HIGHLIGHTS*Discussion and reconciliation of adjusted EBITDA to net income(loss)is included under Item 7 of our 10