Mr. Jean-Louis Servranckx reports

AECON SELECTED TO DELIVER THE DEERFOOT TRAIL IMPROVEMENTS PROJECT IN ALBERTA

Aecon Group Inc. has been selected by Alberta Transportation and Economic Corridors to deliver the Deerfoot Trail improvements project in Calgary, Alta., under two contracts with an aggregate value of $615-million.

Aecon has been selected as the preferred proponent for the $595-million design and construction of improvements to Deerfoot Trail, Alberta's busiest highway, from Douglasdale Boulevard to north of Glenmore Trail. The scope of work includes the construction of additional lanes, seven new bridges, and improvements to ramps and interchanges. Upon finalization of the contract, the value of the project is expected to be added to Aecon's construction segment backlog in the second quarter of 2023, with construction expected to commence during this period and completion anticipated in the fourth quarter of 2027.

Aecon has also been awarded a $20-million contract for the construction of improvements at Beddington Trail Northwest and 11th Street Northeast, including adding an additional lane in the north and southbound directions and constructing a ramp to connect 11th Street with Deerfoot Trail North and Beddington Trail. The value of the contract is being added to Aecon's construction segment backlog in the second quarter of 2023.

"We look forward to bringing our experience delivering large-scale transportation projects to improve the safety, mobility and capacity of this important corridor," said Jean-Louis Servranckx, president and chief executive officer of Aecon Group. "This project will benefit growing communities, and we are pleased to expand our relationship with Alberta Transportation and Economic Corridors."

Further information about the project is available on the Alberta Transportation and Economic Corridors website.

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.

We seek Safe Harbor.