Market Overview

Granite Awarded $32 Million Bridge Replacement Contract in California

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Granite (NYSE:GVA) announced today that it has been awarded a $32
million bridge replacement contract by the City of Bakersfield for the
Belle Terrace Operational Improvements project in Bakersfield,
California. The contract will be included in Granite's third quarter
2018 backlog.

Scope of work includes general improvements on State Route (SR) 99, the
Belle Terrace Overcrossing, the northbound SR-99/eastbound SR-58
Connector, and local roads. The improvements on SR 99 include the
construction of over 3,000 lineal feet of retaining wall as well as an
additional auxiliary lane.

The Belle Terrace Operational Improvements is phase 2 of the Centennial
Corridor Project, which will provide route continuity and traffic
congestion relief for SR 58 from Cottonwood Road to Interstate 5.

Construction is scheduled to begin in October 2018 and be complete in
April 2020. For more information visit the Centennial
Corridor project website
.

About Granite

Through its offices and subsidiaries nationwide, Granite Construction
Incorporated (NYSE:GVA) is a full-suite provider in the transportation,
water infrastructure and mineral exploration markets. Granite, America's
Infrastructure Company
, is an award-winning firm in safety, quality
and environmental stewardship, and has been honored as one of the
World's Most Ethical Companies by Ethisphere Institute for nine
consecutive years. Granite is listed on the New York Stock Exchange and
is part of the S&P MidCap 400 Index, the MSCI KLD 400 Social Index and
the Russell 2000 Index. For more information, visit graniteconstruction.com.

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