Mr. Adam Borgatti reports

AECON ANNOUNCES FILING OF FINAL SHORT FORM PROSPECTUS IN CONNECTION WITH OFFERING OF COMMON SHARES

In connection with Aecon Group Inc.'s previously announced agreement to sell, on a bought deal basis, 3,822,000 common shares from treasury to a syndicate of underwriters led by CIBC Capital Markets and TD Securities Inc., Aecon has filed a final short form prospectus dated March 24, 2026, with the securities commissions or other similar regulatory authorities in all provinces of Canada, and has obtained a receipt therefor.

The final prospectus qualifies the distributions of the shares at a price of $39.25 per share for gross proceeds to the company of approximately $150,013,500. Aecon has also granted the underwriters an overallotment option to purchase up to an additional 573,300 shares, on the same terms and conditions, exercisable in whole or in part up to 30 days after the closing of the offering, for additional gross proceeds of up to approximately $22.5-million.

Aecon intends to use the net proceeds from the offering to repay amounts drawn under its revolving credit facility and, to the extent there are any excess net proceeds, for general corporate purposes.

Access to the final prospectus and any amendment thereto is provided in accordance with securities legislation relating to procedures for providing access to a prospectus and any amendment. The final prospectus is accessible on SEDAR+. An electronic or paper copy of the final prospectus and any amendment may be obtained, without charge, from CIBC Capital Markets, 161 Bay St., fifth floor, Toronto, Ont., M5J 2S8, by telephone at 1-416-956-6378 or by e-mail at mailbox.canadianprospectus@cibc.com, or from TD Securities Inc., 1625 Tech Ave., Mississauga, Ont., L4W 5P5, attention: Symcor, NPM, by telephone at 1-289-360-2009 or by e-mail at sdcconfirms@td.com by providing the contact with an e-mail address or address, as applicable. Prospective investors should read the final prospectus in its entirety before making an investment decision.

About Aecon Group Inc.

Aecon Group is a North American 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, management, and operations and maintenance services through its concessions segment.

We seek Safe Harbor.