This document provides an overview and financial results for TRC Companies Inc.'s Q2 Fiscal 2015. Key points include: - Net service revenue increased 10% year-over-year to $99.8 million. - EBITDA increased 28% to $9.5 million and net income increased 29% to $4.0 million. - The environmental and energy segments saw increases in net service revenue and profits while the infrastructure segment saw declines. - The company aims to invest in organic growth and pursue strategic acquisitions to expand in key markets like oil/gas midstream.

1. Q2 Fiscal 2015 Investor Review
February 4, 2015
TRR
Chris Vincze Tom Bennet
Chairman & CEO Chief Financial Officer

2. Safe Harbor Statement
2
Certain statements in this presentation may be forward-looking statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by forward-looking words such as
"may," "expects," "plans," "anticipates," "believes," "estimates," or other words of similar import. You should consider statements that
contain these words carefully because they discuss TRC’s future expectations, contain projections of the Company’s future results of
operations or of its financial condition, or state other "forward-looking" information. TRC believes that it is important to communicate
its future expectations to its investors. However, there may be events in the future that the Company is not able to accurately predict
or control and that may cause its actual results to differ materially from the expectations described in its forward-looking statements.
Investors are cautioned that all forward-looking statements involve risks and uncertainties, and actual results may differ materially
from those discussed as a result of various factors, including, but not limited to, the uncertainty of TRC’s operational and growth
strategies; circumstances which could create large cash outflows, such as contract losses, litigation, uncollectible receivables and
income tax assessments; regulatory uncertainty; the availability of funding for government projects; the level of demand for TRC’s
services; product acceptance; industry-wide competitive factors; the ability to continue to attract and retain highly skilled and qualified
personnel; the availability and adequacy of insurance; and general political or economic conditions. Furthermore, market trends are
subject to changes which could adversely affect future results. See the risk factors and additional discussion in TRC’s Annual Report on
Form 10-K for the fiscal year ended June 30, 2014, Quarterly Reports on Form 10-Q, and other factors detailed from time to time in the
Company’s other filings with the Securities and Exchange Commission.
These slides are intended as a visual aid to TRC’s commentary on the Second Quarter Fiscal Year 2015 Financial Results Conference
Call. As such they should be considered in the full context of that commentary, the transcript of that conference call and TRC’s second
quarter Form 10-Q and Financial Results Press Release. Also, this presentation contains references to non-GAAP metrics such as
EBITDA, gross margin and free cash flow. A reconciliation of GAAP to non-GAAP metrics can be found on slide 16.

3. Q2 Fiscal 2015 Overview
3
NSR
1
increased 10% YOY to $99.8M
Operating income increased 32% YOY to $6.9M
NSR backlog increased 8.5% YOY to $254.0M
(1) TRC believes net service revenue (gross revenue less subcontractor costs and other direct reimbursable charges) best reflects the value of
services provided to its customers and is the most meaningful indicator of its revenue performance.
EBITDA increased 28% YOY to $9.5M
Net income increased 29% YOY to $4.0M

4. EnvironmentalSegment
4
Q2 Fiscal 2015 Results
 NSR +18% YOY
 Segment profit +16% YOY
 Segment NSR backlog +2.4% YOY
 Continued development of midstream oil & gas markets
 Increased demand from oil and gas clients, particularly pipeline
permitting services
$44.6
$52.6
Q2 2014 Q2 2015
Net Service Revenue (in millions)
$8.8
$10.2
Q2 2014 Q2 2015
Segment Profit (in millions)
+18% +16%

5. EnergySegment
5
Q2 Fiscal 2015 Results
 NSR +1% YOY
 Segment profit +8% YOY
 NSR backlog +31% YOY
 Utility capital spend continues on aging transmission and distribution
infrastructure
 Growing geographical presence and production efficiencies
$34.9 $35.2
Q2 2014 Q2 2015
Net Service Revenue (in millions)
$7.3
$7.9
Q2 2014 Q2 2015
Segment Profit (in millions)
+8%+1%

6. InfrastructureSegment
6
Q2 Fiscal 2015 Results
 NSR 0% YOY
 Segment profit -30% YOY; timing issues around contract and change
orders continue to hamper results
 NSR backlog -6.5% YOY
 Healthier state and municipal budgets providing for more
transportation projects
$11.4 $11.4
Q2 2014 Q2 2015
Net Service Revenue(in millions)
$2.0
$1.4
Q2 2014 Q2 2015
Segment Profit (in millions)
0%
-30%

7. $46 $47 $43
$65
$86 $85
$123
$127 $126
Q2 2014 Q1 2015 Q2 2015
Segment NSR Backlog
NSR Backlog & New Project Wins
7
(in millions)
Energy
• Northeast Utilities (Eversource) – Scobie
to Tewksbury line
• NYSERDA – MEPP Program
Environmental
• Spectra – NEXUS Gas Transmission
Permitting
• Sunoco Logistics Partners
• Centurion Pipeline LP – Midland Farm
Truck Station
Infrastructure
• PennDOT – Lancaster County CM/CI
• PennDOT* – Rapid Bridge Replacement
$234
$254$260
*Announced in Q3 2015

8. 8
Growth Strategy
0%
2%
4%
6%
8%
10%
12%
14%
16%
Q3 2014 Q4 2014 Q1 2015 Q2 2015
Total
Organic
Total & Organic NSR Growth Recent Acquisitions
NOVA Safety & Environmental (September 2014)
Covino Environmental Associates (July 2014)
EMCOR Energy Services, Inc. (January 2014)
Utility Support Systems, Inc. (July 2013)
• Investing in high-margin organic growth opportunities
• Pursuing strategic acquisitions to expand our platform in key North American markets

9. 9
Impact from Decreasing Oil Prices
 No short-term impact to the business expected based on needs of
midstream/downstream developers
Market Capital Spend
Outlook
Impact to TRC Approx. % of TRC
Oil & Gas Revs
Upstream Weakening Limited 6%
Midstream Holding to
Growing
Positive 69%
Downstream Holding to
Growing
Positive 24%
 Additional pipeline projects are planned in the Northeast
 LNG export projects are subject to regulatory approval and may be delayed or
canceled depending on natural gas prices, as well as specific regional factors

10. Summary and Key Initiatives
10
• Consistently improving financial performance
• Invest in organic growth opportunities
• Increase focus on strategic markets:
• Oil & Gas – Midstream and downstream markets provide
expansive opportunities
• Utility/Power – Aging and inefficient transmission and distribution
systems require long-term capital investments
• Transportation – Highways, bridges, transit, airports and rail
require significant capital investments for a safe, sustainable,
efficient and modernized U.S.
• Continue to pursue strategic acquisitions that provide geographic
expansion and enhanced technical capabilities

11. $91.1
$99.8
Q2 2014 Q2 2015
Net Service Revenue (in millions)
Quarterly Financial Results Overview
11
$7.4
$9.5
Q2 2014 Q2 2015
EBITDA(in millions)
$5.2
$6.9
Q2 2014 Q2 2015
Operating Income (in millions)
+10%
+32%
+28%
$0.10
$0.13
Q2 2014 Q2 2015
Diluted EPS
+30%

12. Q2 2015
$99.8
$0.6
$82.6
17.3%
$8.4
$6.9
$9.5
9.5%
$4.0
$0.13
Q2 2014
$91.1
$0.3
$76.4
16.2%
$7.5
$5.2
$7.4
8.2%
$3.1
$0.10
12
(In millions, except per share data)
Quarterly Income Statement Highlights
$91.1
$99.8
83.8%
82.7%
Q2 2014 Q2 2015
Cost of Services as % of NSR
$91.1
$99.8
8.2%
8.4%
Q2 2014 Q2 2015
G&A Expenses as % of NSR
Net service revenue
Insurance recoverables and other income
Cost of services (COS)
Gross margin %
General and administrative expenses
Operating income
EBITDA
EBITDA as a % of NSR
Net income
Diluted earnings per common share

13. $172.4
$192.5
YTD 2014 YTD 2015
Net Service Revenue (in millions)
YTD Financial Results Overview
13
$13.9
$17.8
YTD 2014 YTD 2015
EBITDA(in millions)
$9.4
$12.9
YTD 2014 YTD 2015
Operating Income (in millions)
+12%
+36%
+28%
$0.19
$0.25
YTD 2014 YTD 2015
Diluted EPS
+32%
Note: YTD 2014 represents the six-month period ended December 27, 2013; YTD 2015 represents the six-month period ended December 26, 2014.

14. YTD 2014
$172.4
$12.6
$154.8
10.2%
$16.3
$9.4
$13.9
8.1%
$5.6
$0.19
YTD 2015
$192.5
$5.5
$163.8
14.9%
$16.4
$12.9
$17.8
9.2%
$7.5
$0.25
14
(In millions, except per share data)
YTD Income Statement Highlights
$172.4
$192.5
89.8%
85.1%
YTD 2014 YTD 2015
Cost of Services as % of NSR
$172.4
$192.5
9.4%
8.5%
YTD 2014 YTD 2015
G&A Expenses as % of NSR
Exit Strategy Change in Estimate
YTD 2014 YTD 2015
Net Service Revenue $ (5.1) $ -
Insurance Recoverables 12.4 -
Cost of Services 7.3 -
Operating Income $ - $ -
Net service revenue
Insurance recoverables and other income
Cost of services (COS)
Gross margin %
General and administrative expenses
Operating income
EBITDA
EBITDA as a % of NSR
Net income
Diluted earnings per common share
Note: YTD 2014 represents the six-month period ended December 27, 2013; YTD 2015 represents the six-month period ended December 26, 2014.

15. 15
Balance Sheet Highlights
Cash and cash equivalents
Days sales outstanding (DSO)
Cash Flow Highlights
Cash flow from operations
Capital expenditures
Free cash flow
Q2 2014
$(6.5)
$(1.3)
$(7.8)
Q2 2015
$(1.3)
$(2.5)
$(3.8)
(In millions)
Balance Sheet and Cash Flow Highlights
YTD 2014
$8.5
86 days
$(5.4)
$(2.8)
$(8.2)
YTD 2015
$13.3
85 days
$1.2
$(4.0)
$(2.8)
Note: YTD 2014 represents the six-month period ended December 27, 2013; YTD 2015 represents the six-month period ended December 26, 2014.

16. Reconciliation of Non-GAAP Measures
16
in millions
Item Q2 - 2014 Q2 - 2015 YTD - 2014 YTD - 2015
Net income applicable to TRC Companies, Inc.'s common shareholders 3.1$ 4.0$ 5.6$ 7.5$
Interest expense 0.0$ 0.0$ 0.1$ 0.1$
Provision for income taxes 2.1$ 2.8$ 3.8$ 5.3$
Depreciation and amortization 2.3$ 2.6$ 4.4$ 4.9$
Net loss applicable to noncontrolling interest (0.0)$ (0.0)$ (0.0)$ (0.0)$
Consolidated EBITDA 7.4$ 9.5$ 13.9$ 17.8$
in millions
Item Q2 - 2014 Q2 - 2015 YTD - 2014 YTD - 2015
Net service revenue 91.1$ 99.8$ 172.4$ 192.5$
Cost of services 76.4$ 82.6$ 154.8$ 163.8$
Gross Margin 14.7$ 17.2$ 17.6$ 28.7$
Gross Margin % 16.2% 17.3% 10.2% 14.9%
in millions
Item Q2 - 2014 Q2 - 2015 YTD - 2014 YTD - 2015
Net cash provided by operating activities (6.5)$ (1.3)$ (5.4)$ 1.2$
Additions to property and equipment (1.3)$ (2.5)$ (2.8)$ (4.0)$
Free Cash Flow (7.8)$ (3.8)$ (8.3)$ (2.8)$
Earnings Before Interest, Taxes, Depreciation and Amortization
Gross Margin and Gross Margin %
Free Cash Flow

17. Definitions for Non-GAAP Measures
17
Earnings Before Interest, Taxes, Depreciation, Amortization (EBITDA)
The Company presents EBITDA because it believes that it is a useful tool for the Company, its lender and its
investors to measure the Company’s ability to meet debt service, capital expenditure and working capital
requirements. As used in the presentation, EBITDA is operating income plus depreciation and amortization.
Note that a separate, modified non-GAAP term “Consolidated Adjusted EBITDA” is specified in the Company’s
revolving credit agreement.
Gross Margin and Gross Margin %
The Company presents Gross Margin and Gross Margin % to allow investors to better evaluate short-term and
long-term profitability trends. The definition of Gross Margin is equal to Net Service Revenue less Cost of
Services. Gross Margin % is equal to Gross Margin Divided by Net Service Revenue.
Free Cash Flow
The Company presents free cash flow, and ratios based on it, to conduct and evaluate its business because,
although it is similar to cash flow from operations, the Company believes it is a useful measure of cash flows
since purchases of fixed assets are a necessary component of ongoing operations. The definition of Free Cash
Flow is equal to net cash provided by (used in) operating activities plus additions to property and equipment.