Mr. Jean-Louis Servranckx reports

AECON RELEASES FOURTH ANNUAL SUSTAINABILITY REPORT ENTITLED BUILDING A SUSTAINABLE FUTURE

Aecon Group Inc. has released its fourth annual sustainability report, outlining its progress and goals in its environmental, social and governance (ESG) practices.

"Our fourth annual sustainability report highlights our commitment to sustainability in what we build and how we build it as we continue moving forward with a strategic focus on decarbonizing energy systems in support of a net-zero future," said Jean-Louis Servranckx, president and chief executive officer of Aecon Group.

What the company builds and how the company builds are evolving: Aecon is building infrastructure projects that are helping drive the transition to a net-zero future. Aecon has adapted the structure of its business by establishing a single point of entry to its sustainability capabilities in three key areas -- climate change adaption, pathways to net zero and sustainable construction -- offering integrated project management throughout a project's life cycle to assist clients in navigating the complexities of decarbonization and energy transition opportunities. Aecon is also focused on how it builds and continues to expand its expertise in sustainable construction practices by adopting zero-emission equipment and piloting new technologies such as low-carbon construction materials.

Highlights of the report include accomplishments in the following key areas of focus:

• Environment: Aecon strives for continuous improvement in the environmental performance of its operations and continued developing processes to minimize waste, greenhouse gas (GHG) emissions, and other environmental impacts. Aecon adopted recognized environmental management practices and standards, including the Envision framework -- an increasingly important standard to guide performance in sustainable construction. Aecon continues its focus on achieving its GHG emissions reduction goals, including a 30-per-cent reduction in direct CO2 (carbon dioxide) emissions on an intensity basis (Scope 1 and Scope 2) by 2030 as compared with 2020 and net zero (Scope 1, Scope 2 and Scope 3) by 2050.
• Social: Aecon released its inaugural reconciliation action plan, outlining its commitment to engaging in reconciliation across its operations together with indigenous peoples, and established new indigenous-led joint ventures. Aecon procured $233-million of indigenous goods and services -- its highest annual total -- and advanced its efforts to train new workers from historically underrepresented groups in construction, including through the Aecon Women in Trades (AWIT) program and the Aecon-Golden Mile (A-GM) community-owned joint venture. Aecon also continued implementing its Fatal 8 safety program focused on eight specific activities workers perform that present elevated risks.
• Governance: Aecon's commitment to ESG extends to its supply chain. An ESG screening survey was introduced for preferred suppliers, with a goal of having 100 per cent of preferred suppliers screened by 2025. Oversight of sustainability matters was moved from the risk committee to the entire board of directors, and Aecon's sustainability expertise now falls under the umbrella of a larger division that oversees and addresses all stakeholder relations, creating cohesion in organizational communication and relationship management.

Aecon was pleased to commence new projects linked to the energy transition -- from advanced transit networks and geothermal energy solutions to utility-scale energy systems and green home energy technology, including a new energy-as-a-service partnership with Enbridge that offers dependable and convenient energy solutions for homeowners, developers and commercial customers in Ontario.

"Aecon is proud to help build a sustainable future through electrified mass transit projects, new low-carbon energy solutions and resilient community infrastructure to support thriving communities," said Eric MacDonald, executive vice-president, utilities, Aecon Group. "For years, we've been investing to ensure that we're ready to help clients navigate the energy transition."

The complete report is available on Aecon's website and on SEDAR.

About Aecon Group Inc.

Aecon Group is a national Canadian construction and infrastructure development company with global experience and is proud to be recognized as one of the Best 50 Corporate Citizens in Canada. Aecon delivers integrated solutions to private and public-sector clients through its construction segment in the civil, urban transportation, nuclear, utility and industrial sectors and provides project development, financing, investment and management services through its concessions segment.

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