The Company leases certain facilities, office space, vehicles and equipment. As of June 30, 2026, operating leases under ASC Topic 842, Leases (“Topic 842”) were included in (i) operating lease right-of use assets, (ii) current portion of operating lease liabilities and (iii) operating lease liabilities, net of current portion on the Company’s Consolidated Balance Sheets in the amounts of $104.8 million, $30.3 million and $75.1 million, respectively. As of June 30, 2026, the Company did not have any lease contracts that had not yet commenced but had created significant rights and obligations.


	For the Three Months Ended June 30,
	2026		2025
Operating lease cost	$	8,660	$	5,052
Short-term lease cost	10,491		6,972
Total lease expense	$	19,151	$	12,024


	For the Nine Months Ended June 30,
	2026		2025
Operating lease cost	$	23,297	$	12,091
Short-term lease cost	28,055		21,004
Total lease expense	$	51,352	$	33,095

Short-term leases (those with terms of 12 months or less) are not capitalized but are expensed on a straight-line basis over the lease term. The majority of the Company’s short-term leases relate to equipment used on construction projects. These leases are entered into at periodic rental rates for an unspecified duration and typically have a termination for convenience provision.

As of June 30, 2026, the weighted-average remaining term of the Company’s leases was 3.9 years, and the weighted-average discount rate was 6.07%. As of June 30, 2026, the lease liability was equal to the present value of the remaining lease payments, discounted

using the incremental borrowing rate on the Company’s secured debt using a single maturity discount rate, as such rate is not materially different from the discount rate applied to each of the leases in the portfolio.

The following table summarizes the Company’s undiscounted lease liabilities outstanding as of June 30, 2026 (unaudited, in thousands):


Fiscal Year	Amount
Remainder of 2026	$	8,938
2027	35,147
2028	30,363
2029	23,695
2030	13,147
2031 and thereafter	5,815
Total future minimum lease payments	$	117,105
Less: imputed interest	11,687
Total	$	105,418