ARE Aecon Group Inc

Aecon Group Inc. (TSX: ARE) (“Aecon” or the “Company”) announced today that South Fraser Station Partners, a consortium comprised of Aecon, Acciona and Pomerleau, in which Aecon holds a 33.3% interest, has been selected by the Province of British Columbia as the preferred proponent for the stations contract on the Surrey Langley SkyTrain Project.

The project includes the design and construction of eight stations, three transit exchanges, nine power substations, and 250 metres of guideway at the SkyTrain’s terminus station. Financial close is expected in the second quarter of 2024.

“Aecon looks forward to working with our client and partners to provide a more sustainable transit option for one of the fastest growing areas in Metro Vancouver,” said Jean-Louis Servranckx, President and Chief Executive Officer, Aecon Group Inc. “Aecon is proud to bring its experience building large scale transit infrastructure to help deliver this essential project.”

Further information about the project is available on the Province of British Columbia’s website: gov.bc.ca/surreylangleyskytrain.

About Aecon

Aecon Group Inc. (TSX: ARE) 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. Join our online community on X, LinkedIn, Facebook, and Instagram @AeconGroupInc.

Statement on Forward-Looking Information

The information in this press release includes certain forward-looking statements. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. In addition to events beyond Aecon’s control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein, as discussed in greater detail in Section 13 – “Risk Factors” in the Management’s Discussion and Analysis filed on March 5, 2024. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

For further information:

Adam BorgattiSVP, Corporate Development and Investor Relations416-297-2600ir@aecon.com

Nicole CourtVice President, Corporate Affairs416-297-2600corpaffairs@aecon.com