Mr. Jean-Louis Servranckx reports

AECON AWARDED CONTRACT FOR THE REPLACEMENT OF CONDENSERS AND FEEDWATER HEATERS AT THE DOMINION ENERGY NORTH ANNA POWER STATION IN VIRGINIA

Aecon Group Inc. has been awarded a $200-million (U.S.) contract by Dominion Energy for the replacement of condensers and feedwater heaters at the North Anna power station in Mineral, Va. The value of the contract will be added to Aecon's construction segment backlog in the fourth quarter of 2023.

The scope of work includes planning, design and the replacement of condenser tube bundles and the fifth and sixth point feedwater heaters at the North Anna power station. Planning is expected to commence in the first quarter of 2024, with completion of the project anticipated in the second quarter of 2027.

The North Anna power station produces 17 per cent of Virginia's electricity and supplies power to over 450,000 homes through the operation of two units.

"Aecon is pleased to bring experience providing a full spectrum of nuclear services to help power a sustainable future through this important project," said Jean-Louis Servranckx, president and chief executive officer, Aecon Group. "Led by our nuclear team in the U.S., we look forward to working with Dominion Energy to successfully deliver this project with an unwavering focus on safety, schedule, quality, cost performance and operational excellence."

Aecon is also currently working on the two largest nuclear refurbishment projects in Canada, delivering the first grid-scale small modular reactor in North America, as well as executing the Savannah River nuclear solutions dismantlement and removal project in South Carolina.

"Building on Aecon's strong roster of nuclear projects, this contract award demonstrates our continued growth in the U.S. and our ability to support key clients on projects linked to the energy transition," said Thomas Clochard, executive vice-president, nuclear and civil, Aecon Group. "Our nuclear team in the U.S. is strategically focused on harnessing the opportunities in the commercial nuclear market and is well positioned to support our valued clients on subsequent licence renewal projects and nuclear life extension programs."

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About Aecon Group Inc.

Aecon is a national Canadian construction and infrastructure development company with global experience. 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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