Mr. Adam Borgatti reports

AECON CONSORTIUM AWARDED CONTRACT FOR MULTIBILLION-DOLLAR POWER PROJECT TIED TO MAJOR DATA CENTRE DEVELOPMENT AND AI INFRASTRUCTURE IN ALBERTA

TRA, a consortium with Tecnicas Reunidas Alberta Inc. in which Aecon Group Inc. holds a majority share, has been awarded a multibillion-dollar contract by Greenlight Electricity Centre LP, comprising Pembina Pipeline Corp., Morgan Stanley Infrastructure Partners and Kineticor Asset Management, for the Greenlight Electricity Centre (GLEC) project in Sturgeon county, Alberta.

Aecon's $1.7-billion share of the contract value will be added to its construction segment backlog in the third quarter of 2026. The contract award follows the completion of early engineering and development work, further strengthens Aecon's multiyear revenue visibility, and expands its role in delivering critical power infrastructure to support accelerating demand from artificial intelligence (AI), digital infrastructure, data centres and broader electrification trends.

The GLEC will be a 932-megawatt natural gas-fired combined cycle power generation facility that serves a major data centre development. The site has the potential to be expanded to a permitted generation capacity of 1,864 MW. GLEC is being developed to supply electricity to a co-located data centre and is anticipated to be one of Alberta's largest new sources of dispatchable power generation -- supporting accelerating energy demand.

"The rapid advancement of AI infrastructure, data centres, digital transformation and economic growth are driving one of the most significant power infrastructure investment cycles, and unprecedented demand for power generation in North America," said Jean-Louis Servranckx, president and chief executive officer, Aecon Group. "This contract award reflects Aecon's multidisciplinary capabilities -- supporting digital sovereignty and safely delivering large-scale, mission-critical infrastructure in sectors benefiting from long-term demand for power generation and grid expansion."

TRA's consortium partners have significant expertise delivering large-scale power generation solutions and will support all phases of delivery, including engineering, procurement, construction execution and commissioning -- providing benefits for all partners. The construction scope includes civil works for existing and future power islands, as well as piping, mechanical, structural, electrical and instrumentation work for the balance of plant, gas metering station, switch yard and substation. Construction is expected to commence in the third quarter of 2026, with anticipated completion in 2030.

"Executing a project of this scale requires world-class expertise. Working with our partner and client, Aecon's execution discipline and experience building complex industrial and power infrastructure projects will be critical to safety, quality, schedule and cost performance," said Thomas Clochard, executive vice-president and chief operating officer, Aecon Group. "Aecon is purpose built to bring its diverse expertise to harness significant opportunities across the power generation, transmission and distribution, communications, and digital infrastructure value chain."

Aecon's major gas and power infrastructure experience includes the TC Energy Napanee Generating Station, the East Windsor Cogeneration and Capital Power Expansion projects, and the Portlands Energy Centre in Ontario, as well as the Spy Hill Peaking Station in Saskatchewan. Aecon has augmented its power infrastructure capabilities and capacity across North America through recent strategic acquisitions, strengthening its self-perform solutions and driving growth. Through United Engineers and Constructors, an Aecon company, Aecon's portfolio of related projects also includes the Ameren Big Hollow and Castle Bluff projects in Missouri, and the Tennessee Valley Authority Johnsonville co-generation project in Tennessee -- in addition to its diverse range of conventional power and nuclear work.

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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