Ms. Nancy Southern reports

ON TARGET: 2023 SUSTAINABILITY REPORT PRESENTS ATCO'S STRONG ENVIRONMENTAL, SOCIAL AND GOVERNANCE PERFORMANCE

Atco Ltd. has released its 2023 sustainability report, highlighting the company's sustainability and environmental, social and governance (ESG) performance. With detailed reference to strategies, initiatives, targets, and metrics, the report focuses on the transition to low-carbon energy; climate change and environmental stewardship; governance and responsible business; operational reliability and resilience; emergency preparedness and response; community and Indigenous relations; diversity, equity and inclusion; and safety.

"Our successful ESG performance in the past year is directly related to the discipline, innovative thinking and determination of the people of our company," said Nancy Southern, Chair & Chief Executive Officer ATCO Ltd. and Canadian Utilities Limited. "As we set our sights on the future, we believe that achieving an equitable energy transition is a necessity. Our commitment to this goal underscores our belief in the power of collective action. At ATCO we are equipped to face global challenges including global energy security, housing scarcity and global resource transportation. In addition, this report details our commitment to establishing strong relationships with our partners and the communities where we operate. I am extremely proud of ATCO's efforts towards Indigenous reconciliation. Together, we must rise to the challenge, working hand in hand with policymakers and stakeholders to pave the way for a sustainable and thriving future for generations to come."

Highlights of ATCO's 2023 sustainability performance include:

• More than quadrupled our renewable power generation capacity between 2022 and 2023. As a proportion of our overall owned production capacity, renewables increased from 24 per cent to 63 per cent, year-over-year.
• Welcomed the Chiniki and Goodstoney First Nations as 51 per cent majority partners in the Deerfoot and Barlow solar power projects, the largest solar installation in an urban centre in Western Canada.
• Reduced company-wide GHG emissions to earnings intensity by 12 per cent compared to 2022, a 32 per cent decrease compared to our 2020 baseline.
• Reduced customers' GHG emissions by 784,000 tonnes of carbon dioxide equivalent from our 2020 baseline.
• Protected vital infrastructure during wildfires allowing us to maintain and quickly restore essential services, including fire-wrapping more than 7,200 electrical poles to protect them from advancing fires.
• Generated over $128 million in net economic benefit to Indigenous groups, including awarding contracts totalling over $91 million to Indigenous and Indigenous-affiliated contractors.
• Investment of $10.2 million in communities through gifts-in-kind, sponsorships, donations and our matching contribution to the employee-led ATCO EPIC Program, which raised $3.1 million in pledges.
• Recognized in 2024 as one of Canada's Top Employers for Young People and Alberta's Top 80 Employers.

As a global enterprise ATCO Ltd. and its subsidiary and affiliate companies have approximately 20,000 employees and assets of $25 billion. ATCO is committed to future prosperity by working to meet the world's essential energy, housing, security and transportation challenges. ATCO Structures designs, builds and delivers products to service the essential need for housing and shelter around the globe. ATCO Frontec provides operational support services to government, defence and commercial clients. ATCO Energy Systems delivers essential energy for an evolving world through its electricity and natural gas transmission and distribution, and international operations. ATCO EnPower creates sustainable energy solutions in the areas of renewables, energy storage, industrial water and clean fuels. ATCO Australia develops, builds, owns and operates energy and infrastructure assets. ATCOenergy and Rumi provide retail electricity and natural gas services, home maintenance services and professional home advice that bring exceptional comfort, peace of mind and freedom to homeowners and customers. ATCO also has investments in ports and transportation logistics, the processing and marketing of fly ash, retail food services and commercial real estate. More information can be found at www.ATCO.com.

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