1. Q1 Fiscal 2014 Investor Review
Chris Vincze
Tom Bennet
Chairman & CEO
Chief Financial Officer
TRR
November 6, 2013

2. Safe Harbor Statement
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, 2013, 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.
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 15.
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3. Q1 Fiscal 2014 Highlights
NSR(1) increased 8% YOY to $81.3M
Revenue growth in all three segments
EBITDA increased 5% YOY to $6.4M
Operating income decreased 8% YOY to $4.3M
NSR backlog increased 1% YOY to $239.0M
(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.
3

4. TRC’s Diversified Business Model
Q1 2014 Net Service Revenue
by Segment
Environmental
48%
$38.4M
$12.6M
Infrastructure
16%
$28.8M
Energy
36%
4

5. Environmental Segment
Net Service Revenue (in millions)
$38.4
$37.4
+3%
Q1 2013
Q1 2014
Segment Profit (in millions)
$9.3
$6.9
+35%
Q1 2013
Segment Drivers
 Increasing permitting and
power plant decommissioning
activities
 Greenhouse gas rules – CO2
 Continued development of
upstream, midstream and
downstream oil & gas markets
 Re-emergence of industrials
and related capital spend
Segment Challenges
 Finding talent
 Ongoing uncertainties with
energy policy and
environmental regulations
 Pricing pressures
 Federal and overall public
sector funding still down
Q1 2014
5

6. Energy Segment
Net Service Revenue (in millions)
$28.8
$25.6
+12%
Q1 2013
Q1 2014
Segment Profit (in millions)
$6.0
$4.1
-32%
Q1 2013
Q1 2014
Segment Drivers
 Greenhouse gas rule – CO2
 Expanding utility capital spend
programs on aging transmission
and distribution infrastructure
 Dynamic revolution in domestic
fuel supplies driving shifts in use
of utility assets (e.g. Coal ↓,
Natural Gas ↑, Renewables ↑,
Efficiency ↑)
Segment Challenges
 Pricing new client projects
 Uncertainty related to use of
utility capital
 Client capacity and strategy to
manage projects
 Migration of larger competitors
into market
 Finding and maintaining talent
6

7. Infrastructure Segment
Net Service Revenue (in millions)
$12.6
$11.2
+12%
Q1 2013
Q1 2014
Segment Profit (in millions)
$2.8
$2.1
Segment Drivers
 Need to upgrade and repair
aging infrastructure,
especially bridges and
roadways
 Additional state funds for
capital projects
 Expansion of transportation
services
Segment Challenges
 Significant competition
 Lack of long-term federal
policy and funding
- MAP21 expires in 2014
+36%
Q1 2013
Q1 2014
7

8. NSR Backlog & New Project Wins
Segment NSR Backlog
New Project Wins
(in millions)
Environmental
$239
$129
$125
Energy
$57
$250
• EPA Superfund Site in CT
• Confidential Client – Pipeline
Project in NY-NJ
$69
$236
+1%
$200
$150
$100
• Regional NY Utility Telecommunications
Engineering Project
• Iberdrola NERC Studies
Infrastructure
$50
$50
$45
Q1 2013
Q1 2014
$0
• PA Turnpike Construction
Engineering for 6 Bridge redecking Projects
• West Virginia DOT Design
Build Roadway Project
8

9. Growth Strategy
• Invest in high-margin organic growth opportunities focused on:
• Utility/Power
• Oil & Gas
• Infrastructure
• Pursue strategic acquisitions to enhance service offerings and geographic footprint of
all three segments
Total & Organic NSR Growth
Recent Acquisitions
12%
10%
8%
• Ocampo Esta Corp. (Covina operations)
Total
• GE’s Air Emissions Testing business
Organic
6%
• Heschong Mahone Group, Inc.
4%
• Utility Support Systems, Inc. (USS)
2%
0%
Q2 2013
Q3 2013
Q4 2013
Q1 2014
9

10. Markets Outlook
Energy – Solid short-, medium-, and long-term outlook
• Aging and inefficient transmission and distribution systems requiring long term capital
investments, estimated at $50B over next few years 1
• New regulatory drivers, e.g., NERC and FERC 1000 will drive additional investments
• Environmental Regulations surrounding air, water, effluents, etc. will provide continued
uncertainty on capital spend direction
• Energy Efficiency markets estimated to grow > 10%/year over the next decade 2
Environmental – Improving short-term and solid medium- and long-term outlook
• Energy and Industrial segment market conditions improving
• Federal and Public markets still declining
• Decommissioning expenditures will double over next few years as 150+ plants are listed for
closure
• New regulations set strict limits on the amount of carbon emissions that can be generated by
new US power plants will require significant investment
• US Non-federal environmental markets expected to grow between 4-5% per year over next
few years 3
Infrastructure – Improving short-term and solid medium- and long-term outlook
• State Infrastructure funding expected to grow 4-5% per year based on improving local
economies 4
• $3.6 Trillion required for state of good repair 5
• Increasing use of Public Private Partnerships to support funding gaps
• Potential for National Infrastructure Bank
1+2
3
4
5
Source: EIA/EPRI Spring 2013 Report
Source: Environmental Business Journal (2013)
Source: National Association of State Budget Office (NASBO) (Spring 2013)
Source: American Society of Civil Engineers 2013 Report on Americas Infrastructure
10

11. CEO Summary
• Well positioned in markets with solid medium- to
long-term growth opportunities
• Executing a focused profitable growth strategy
• Strong balance sheet and cash position
• Stable but growing backlog
11

12. Quarterly Financial Results Overview
Net Service Revenue (in millions)
EBITDA(1) (in millions)
$81.3
$75.2
$6.4
$6.1
+8%
Q1 2013
+5%
Q1 2014
Q1 2013
Operating Income (in millions)
$4.6
$4.3
Q1 2014
Diluted EPS
$0.15
$0.08
-8%
-47%
Q1 2013
Q1 2014
Q1 2013
Q1 2014
12

13. Quarterly Income Statement Highlights
(In millions, except per share data)
Exit Strategy Change in Estimate
Q1 2013
Q1 2014
Net service revenue
$75.2
$81.3
Insurance recoverables and other income
$1.7
$12.3
Cost of services (COS)
$63.7
$78.4
Gross margin
15.3%
3.5%
General and administrative expenses
$7.2
$8.8
$75.2
Operating income
$4.6
$4.3
84.7%
EBITDA
$6.1
$6.4
Q1 2013
EBITDA as a % of NSR
8.2%
7.9%
Federal and state income tax provision
$(0.2)
$(1.7)
Net Service Revenue
$ (5.1)
Insurance Recoverables
12.4
Cost of Services
7.3
Operating Income
$
Cost of Services as % of NSR
$81.3
96.5%
Q1 2014
G&A Expenses as % of NSR
$81.3
$75.2
Effective tax rate
5.2%
40.6%
10.8%
Net income
$4.3
$2.5
Diluted earnings per common share
$0.15
$0.08
9.5%
Q1 2013
Q1 2014
13
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14. Balance Sheet and Cash Flow Highlights
(In millions)
Q1 2013
Q1 2014
$14.9
$22.0
86 days
95 days
Cash flow from operations
$(3.8)
$1.1
Capital expenditures
$(0.7)
$(1.6)
Free cash flow
$(4.5)
$(0.5)
Balance Sheet Highlights
Cash and cash equivalents
Days sales outstanding (DSO)
Cash Flow Highlights
14

15. Reconciliation of Non-GAAP Measures
Earnings Before Interest, Taxes, Depreciation, Amortization
In millions
Q1 - 2014
$2.5
0.1
1.7
2.1
0.0
$6.4
Q1 - 2013
$75.2
63.7
$11.5
15.3%
Net income applicable to TRC Companies, Inc.'s common shareholders
Interest expense
Federal and state income tax provision
Depreciation and amortization
Net loss applicable to noncontrolling interest
Consolidated EBITDA
Q1 - 2013
$4.3
0.1
0.2
1.5
(0.0)
$6.1
Q1 - 2014
$81.3
78.4
$2.9
3.5%
Q1 - 2013
($3.8)
(0.7)
($4.5)
Q1 - 2014
$1.1
(1.6)
($0.5)
Gross Margin and Gross Margin %
In millions
Net service revenue
Cost of services
Gross Margin
Gross Margin %
Free Cash Flow
In millions
Net cash provided by operating activities
Additions to property and equipment
Free Cash Flow
15