News

IES Infrastructure Solutions Message on COVID-19
As of March 17, 2020

IES Infrastructure Solutions is closely monitoring the Coronavirus situation with the use of the Centers for Disease Control and Prevention (CDC) and the World Health Organization’s (WHO) official communications regarding COVID-19 and subsequently sharing such information with our employees.

IES Infrastructure Solutions Objectives:

1. Monitor the latest knowledge and data concerning the Coronavirus by reference to the CDC and WHO
2. Maintain business operations to the extent possible, and minimize disruptions
3. Coordinate mitigation efforts and communicated regularly with customers and suppliers
4. Communicate updates and preventive measures to employees
5. Ensure communication systems are working effectively and make timely communications to our stakeholders

Points of Contact

If you have any questions regarding IES Infrastructure Solutions’ response to the COVID-19 outbreak, please contact one of the following individuals, who are leading our response:

Sean Suttman – 513.828.9280 / ssuttman@ies-is.com

Kayla Householder – 330.844.1411 / khouseholder@ies-is.com

Business Continuity

IES Infrastructure Solutions has reached out to its significant suppliers to anticipate and minimize any delay or shortage issues with respect to our supply chain or with respect to performance on jobs.  We are also coordinating with clients on an ongoing basis to communicate any anticipated delays or other impacts related to COVID-19.  Where possible, we are exploring alternate suppliers, planning to re-assign employees or add temporary labor if available, to attempt to minimize disruption to our business.

Suspected or Identified Case

In the event IES Infrastructure Solutions becomes aware of an actual or suspected case of COVID-19 among the IES Infrastructure Solutions employees or at one of our job sites, managers have been instructed to immediately notify the above points of contact, who will coordinate our response.  Steps taken will likely include:

• Isolation or removal of the affected individual
• Notification of any individuals who may have been in close contact with the affected individual
• Enhanced sanitation of all affected areas, and
• Prompt notification of all other stakeholders on the job site who may be affected

Mitigation Actions

IES Infrastructure Solutions is taking measures, in accordance with the CDC and WHO recommendations, to protect our employees, customers, and business partners. IES Infrastructure Solutions has adopted the following policies and recommendations:

• Prohibiting international travel for company business
• Limiting non-essential business travel within the U.S. (essential travel is travel that is critical to business continuity)
• Executive management will review all travel requests
• The use of video conferencing systems is preferred and recommended means of conducting business-related interactions
• Limiting site/project visits and visits to physical office locations
• Discouraging community provided food (i.e., shared meals/drinks, potlucks, group meals) and encouraging staggered lunchtimes
• Advising employees to reschedule any personal travel internationally or to areas experiencing an outbreak
  • Advising employees that, if they choose to travel, they may be required to work remotely for at least 14 days upon return
• Advising employees with a household member who has recently traveled outside of the U.S. or to a domestic location experiencing an outbreak, if practical, to work remotely for 14 days upon the household member’s return
• Advising employees who have (a) traveled outside of the U.S., (b) to a domestic location experiencing an outbreak or (c) who have encountered someone who has traveled to such a location in the last month and who are now ill, that they should remain at home and immediately notify their manager

Employee Education

We are also continually educating our workforce on the CDC recommendations for everyday preventive actions to help prevent the spread of respiratory diseases, including:

• Avoid close contact with people who are sick
• Avoid touching your eyes, nose, and mouth
• Stay home when you are sick
• Cover your cough or sneeze with a tissue, then throw the tissue in the trash
• Clean/disinfect frequently touched objects and surfaces using a regular household cleaning spray or wipe
• Wash your hands often with soap and water for at least 20 seconds, especially after going to the bathroom; before eating; and after blowing your nose, coughing, or sneezing
• If soap and water are not readily available, use an alcohol-based hand sanitizer with at least 60 percent alcohol. Always wash hands with soap and water if hands are visibly dirty

The Coronavirus is a rapidly evolving situation, and we expect to continually update our responses and recommendations to match the latest recommendations from the CDC and WHO. Additional or revised recommendations may be issued based on developing information.

IES HOLDINGS ACQUIRES FREEMAN ENCLOSURE SYSTEMS, LLC

HOUSTON, March 16, 2017 (GLOBE NEWSWIRE) — IES Holdings, Inc. (or “IES”) (NASDAQ:IESC) today announced that its subsidiary IES Infrastructure Solutions, LLC has acquired all of the membership interests of Freeman Enclosure Systems, LLC (“Freeman”). Freeman, based outside of Cincinnati, Ohio, manufactures custom generator enclosures that are primarily used by data centers and large commercial and industrial facilities. The acquisition also includes the purchase of Freeman’s 160,000-square foot manufacturing facility through an affiliated entity. Freeman will operate as a subsidiary in IES’s Infrastructure Solutions segment and will continue to operate under the Freeman name.

“We are pleased to have Freeman Enclosure Systems and its over 250 employees join IES. As a leading manufacturer of custom generator enclosures, Freeman adds valuable engineering and manufacturing capabilities to the suite of product and service solutions that we can offer our customers,” said Mike Rice, President of IES’s Infrastructure Solutions segment. “I am particularly excited to partner with Dale Freeman, who founded the company and will continue as President of Freeman. I look forward to working with him to provide Freeman with additional resources and capital to further expand its capabilities.”

Dale Freeman, President of Freeman, added, “Freeman owes its success to its dedicated employees, many of whom I’ve known and worked with for years. Partnering with IES offers them the opportunity to join a company that shares this same long-term commitment to its employees and customers and that can also provide the capital necessary to meet our expansion needs.”

Robert Lewey, President of IES, noted, “The acquisition of Freeman is consistent with our strategy to complete strategic acquisitions that enhance our capabilities within current operating segments. Freeman, like our other acquisitions in the Infrastructure Solutions segment, strengthens our offering of electro-mechanical products and services. These acquisitions are also a strong step toward improving our profitability and utilizing the approximately $404 million of net operating loss carryforwards available to us for U.S. federal income tax purposes as of September 30, 2016.”

ABOUT IES HOLDINGS, INC.
IES is a holding company that owns and manages diverse operating subsidiaries, comprised of providers of industrial infrastructure services to a variety of end markets. Our over 4,000 employees serve clients in the United States. For more information about IES, please visit www.ies-co.com.

ABOUT IES INFRASTRUCTURE SOLUTIONS
IES’s Infrastructure Solutions segment provides electro-mechanical solutions for industrial operations. For more information about IES Infrastructure Solutions, please visit www.iesinfrastructure.com.

ABOUT FREEMAN ENCLOSURE SYSTEMS
Freeman manufactures custom generator enclosures that are primarily used by data centers and large commercial and industrial facilities. Based outside of Cincinnati, Ohio, Freeman operates in a 160,000-square foot manufacturing facility and supports customers throughout the United States. For more information about Freeman, please visit www.freemanenclosures.com.

Certain statements in this release may be deemed “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, all of which are based upon various estimates and assumptions that the Company believes to be reasonable as of the date hereof. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “seek,” “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” the negative of such terms or other comparable terminology. These statements involve risks and uncertainties that could cause the Company’s actual future outcomes to differ materially from those set forth in such statements. Such risks and uncertainties include, but are not limited to, the ability of our controlling shareholder to take action not aligned with other shareholders; the possibility that certain tax benefits of our net operating losses may be restricted or reduced in a change in ownership; the potential recognition of valuation allowances on net deferred tax assets; the inability to carry out plans and strategies as expected, including our inability to identify and complete acquisitions that meet our investment criteria in furtherance of our corporate strategy; competition in the industries in which we operate, both from third parties and former employees, which could result in the loss of one or more customers or lead to lower margins on new projects; fluctuations in operating activity due to downturns in levels of construction, seasonality and differing regional economic conditions; and our ability to successfully manage projects, as well as other risk factors discussed in this document, in the Company’s annual report on Form 10-K for the year ended September 30, 2016 and in the Company’s other reports on file with the SEC. You should understand that such risk factors could cause future outcomes to differ materially from those experienced previously or those expressed in such forward-looking statements. The Company undertakes no obligation to publicly update or revise any information, including information concerning its controlling shareholder, net operating losses, borrowing availability, or cash position, or any forward-looking statements to reflect events or circumstances that may arise after the date of this release.

Forward-looking statements are provided in this press release pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of the estimates, assumptions, uncertainties, and risks described herein.

General information about IES Holdings, Inc. can be found at http://www.ies-co.com under “Investors.” The Company’s annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, as well as any amendments to those reports, are available free of charge through the Company’s website as soon as reasonably practicable after they are filed with, or furnished to, the SEC.