Mr. Jean-Louis Servranckx reports

AECON PARTNERSHIP FINALIZES CONTRACT FOR THE MONTREAL-TRUDEAU INTERNATIONAL AIRPORT REM STATION PROJECT IN QUEBEC

Aecon Group Inc.'s 50:50 general partnership Connect Cite, and EBC, in which Aecon is the lead partner, has finalized a $219-million contract with ADM Aeroports de Montreal to build the Montreal-Trudeau International Airport Reseau express metropolitain (REM) station project in Quebec. Aecon's share of this contract will be added to its construction segment backlog in the second quarter of 2022, with additional scope and related pricing being finalized through a collaborative process in the coming months.

The scope of work includes construction, project management, and commissioning of the station shell and associated buildings to enable the concurrent REM project to access the site, and complete equipment installations to commence operations. Construction will commence in the second quarter of 2022.

The station is a significant addition to Montreal's transit system and will be a critical hub for the 67-kilometre REM network, a project in which Aecon is also currently playing a key role in executing. Upon completion, it will take approximately 25 minutes to travel from the station to downtown, with faster and more frequent all-day service.

"The REM network will improve mobility and connect communities across the Greater Montreal Area with faster and more sustainable transit, and we look forward to working with ADM and our partner to deliver this world-class project," said Jean-Louis Servranckx, president and chief executive officer, Aecon Group. "This project further strengthens our presence in Quebec, as we continue to pursue significant opportunities across the province to build the critical infrastructure required to meet the needs of future generations."

About Aecon Group Inc.

As a Canadian leader in construction and infrastructure development with global expertise, Aecon Group strives to be the No. 1 Canadian infrastructure company and is proud to be recognized as one of the best employers in Canada. Aecon safely, profitably and sustainably 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.