Mr. Jean-Louis Servranckx reports

AECON CONSORTIUM PARTNERS WITH METROLINX AS NEW OPERATIONS AND MAINTENANCE PARTNER FOR GO TRANSIT SERVICE

ONxpress Operations Inc., a member of ONxpress Transportation Partners, will serve as the new operations and maintenance partner for Aecon Group Inc.'s GO Transit system in the Greater Golden Horseshoe Area over a 23-year term commencing Jan. 1, 2025. This is an important milestone for ONxpress as part of the continuing collaborative development phase for the GO Expansion On-Corridor (OnCorr) Works project.

ONxpress is a consortium comprising Aecon, FCC Construccion S.A. (FCC), Deutsche Bahn International Operations and Alstom. Each partner holds a 25-per-cent interest in ONxpress and Aecon Concessions holds a 28-per-cent interest in OOI, a partnership with Deutsche Bahn International Operations.

"We are pleased to reach this important milestone and look forward to playing a key role in providing improved and expanded train service across the GO Transit network," said Jean-Louis Servranckx, president and chief executive officer, Aecon Group. "Aecon's role in building, operating and maintaining this project demonstrates our multidisciplinary expertise in delivering complex infrastructure solutions."

Through OOI, ONxpress will operate and maintain the trains, work with Metrolinx on train service planning and in the network operation centre, introduce new operational technology and process solutions, and provide maintenance services for new assets such as electrification and signalling.

Aecon also holds a 50-per-cent interest in the project's civil construction partnership with FCC, which is advancing work to finalize another contract by the end of 2024 for the design and construction scope of the OnCorr project. Early construction activities are continuing and the development phase will conclude upon finalizing this contract.

About GO Expansion

The GO Expansion program will bring faster, more frequent train service by delivering new transit infrastructure and operational plans that will reduce journey times, add capacity, and further improve on-time performance and customer satisfaction. These improvements will create a network that has the capacity to deliver service every 15 minutes or better, in both directions, all day, meaning customers will not need to check a train schedule because they will know the next one will be coming along soon.

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.

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