Mr. Adam Borgatti reports

AECON ANNOUNCES CLOSING OF OFFERING OF COMMON SHARES

Aecon Group Inc. has closed an offering announced on March 11, 2026, consisting of 4,395,300 common shares, including 573,300 shares pursuant to the exercise of the overallotment option granted to the underwriters (as defined below). The shares were offered at a price of $39.25 per share for gross proceeds to the company of $172,515,525.

The offering was made through a syndicate of underwriters led by CIBC Capital Markets and TD Securities Inc. and made on a bought deal basis pursuant to a final short form prospectus dated March 24, 2026. The prospectus has been filed with the Canadian securities regulators in each of the provinces of Canada and is available under the company's SEDAR+ profile.

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.

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.