Mr. Jean-Louis Servranckx reports

AECON CONSORTIUM EXECUTES CONTRACT TO DELIVER THE WINNIPEG NORTH END SEWAGE TREATMENT PLANT BIOSOLIDS FACILITIES UPGRADE PROJECT

Red River Biosolids Partners General Partnership, a consortium comprising Aecon Group Inc., Oscar Renda Contracting of Canada Inc., a subsidiary of Southland Holdings Inc. and MWH Constructors Canada Ltd., in which Aecon is the lead partner and holds a 33.3-per-cent interest, has executed a contract with the City of Winnipeg to deliver the Winnipeg North End sewage treatment plant (NEWPCC) biosolids facilities upgrade project under a progressive design-build contract model.

The collaborative project begins with a development phase contract valued at $95-million to advance design and finalize the scope and cost of various elements of the project. Aecon's share of the development phase contract will be added to its construction segment backlog in the third quarter of 2024. Upon successful completion of this phase, the implementation phase will begin to finalize the design and execute construction, with substantial completion expected in 2030.

The scope of work includes the design and construction of a new biosolids facility, as well as modifications to the existing primary clarification. NEWPCC provides 70 per cent of Winnipeg's waste water treatment capacity and is the largest sewage treatment plant in the city. Aecon is also currently working with Oscar Renda Contracting of Canada Inc. and the City of Winnipeg to deliver the NEWPCC headworks facilities upgrade project.

"Building on our team's work at the NEWPCC since 2021, this contract for another important component of this project augments our strong roster of projects being delivered under collaborative contract models," said Jean-Louis Servranckx, president and chief executive officer of Aecon Group. "We look forward to safely delivering this project and working with our client and partners to extend the operating life of this essential facility."

Further information about the project is available on the City of Winnipeg's website.

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.