Gulf Island Fabrication : 2023 Proxy Card

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GULF ISLAND FABRICATION, INC.

Proxy Solicited on Behalf of the Board of Directors for

Annual Meeting of Shareholders to be Held on May 18, 2023

By signing the reverse side, you hereby appoint each of Richard W. Heo and Westley S. Stockton as your proxy, with full power of substi- tution, to represent you and to vote all of your shares of common stock of Gulf Island Fabrication, Inc. held of record by you on March 30, 2023, that you are entitled to vote at the 2023 annual meeting of shareholders to be held exclusively via a live audio webcast, accessible at https://web.lumiagm.com/266826102, on May 18, 2023 at 9:00 a.m., Central Time, and at all adjournments thereof, on all matters coming before the 2023 annual meeting. To obtain additional instructions for joining as a guest or participating and voting as a shareholder at the 2023 annual meeting, please contact Bryan Anderson at American Stock Transfer & Trust Company, LLC at [phone] ext. 6457 or [phone].

The proxy will vote your shares: (1) as you specify on the back of this proxy card or online at www.voteproxy.com, (2) as the board of directors recommends where you do not specify your vote on a matter listed on the back of this proxy card, and (3) as the proxies decide on any other matter properly coming before the 2023 annual meeting.

If you wish your shares to be voted on all matters as the board of directors recommends, simply sign, date and return this proxy card. If you wish your shares to be voted as you specify on a matter or all matters, please also mark the appropriate boxes on the back of this proxy card.

PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY CARD PROMPTLY IF YOU ARE NOT SUBMITTING YOUR VOTING INSTRUCTIONS AND PROXY ONLINE.

(Please See Reverse Side)

1.1

14475

ANNUAL MEETING OF SHAREHOLDERS OF

GULF ISLAND FABRICATION, INC.

to be held

May 18, 2023

IMPORTANT NOTICE REGARDING THE AVAILABILITY OF THE PROXY MATERIALS

FOR THE SHAREHOLDERS MEETING TO BE HELD ON MAY 18, 2023:

The notice of meeting, proxy statement and 2022 annual report are available at

www.gulfisland.com/eproxy

Please mark, sign, date and

return your proxy card in the envelope provided as soon as possible.

Please detach along perforated line and mail in the envelope provided.

00003333333304033000

7

051823

THE BOARD OF DIRECTORS RECOMMENDS A VOTE FOREACH OF THE DIRECTOR NOMINEES LISTED IN PROPOSAL 1

AND FORPROPOSALS 2, 4 AND 5 AND EVERY ONE YEARON PROPOSAL 3.x

PLEASE MARK, SIGN, DATE AND RETURN PROMPTLY IN THE ENVELOPE PROVIDED. PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE.

Please mark, sign, date and return this proxy card promptly using the envelope provided.

You may specify your voting instructions by marking the appropriate boxes on this side. You need not mark any boxes, however, if you wish your shares to be voted on all matters in accordance with the board of directors' recommendation. If your voting instructions are not specified, your shares will be voted FOReach of the director nominees listed in Proposal 1, FORProposals 2, 4 and 5, and EVERY ONE YEARon Proposal 3.

To change the address on your account, please check the box at the right and indicate your new address in the space above. Please note that changes to the registered name(s) on the account may not be submitted via this method.

1. To elect each of the seven director nominees.
   Robert M. Averick Murray W. Burns William E. Chiles Richard W. Heo Michael J. Keeffe Cheryl D. Richard Jay R. Troger
2. To approve, on an advisory basis, the compensation of our
   named executive officers.EVERY

ONE 3. To approve, on an advisory basis, the frequency of future YEAR

advisory votes on the compensation of our named executive officers.

4. To approve our second amended and restated 2015 stock incentive plan.

5. To ratify the appointment of our independent registered public accounting firm for 2023.

FOR AGAINST ABSTAIN

EVERY EVERY

TWO THREE

YEARS YEARS ABSTAIN

FOR AGAINST ABSTAIN

Signature of Shareholder

Date:

Signature of Shareholder

Date:

Note:

Please sign exactly as your name(s) appear on this proxy card. When

shares

are held jointly, each

holder should sign. When signing as executor, administrator, attorney, trustee or guardian, please give full title

as such. If the signer is a corporation, please sign full corporate name by duly authorized officer, giving full title as such. If signer is a partnership, please sign in partnership name by authorized person.