Mr. Ian Edwards reports

MAJOR INDUSTRY MILESTONE FOR ATKINSREALIS WITH CONTRACT WIN TO BUILD TWO NEW MULTI-BILLION DOLLAR CANDU NUCLEAR REACTORS

Candu Energy Inc., an Atkinsrealis Group Inc. company, in a joint venture with Fluor Corp., Ansaldo Nucleare, and Sargent & Lundy, has been awarded a contract from EnergoNuclear SA to build two new Candu reactors at the Cernavoda nuclear generating station in Romania -- the first in the world since 2007. These units will allow Romania to almost double the production of clean, reliable and affordable electricity.

"This is a game-changing contract for AtkinsRealis and Romania. As the sole commercial licensee of world-renowned Candu technology, we are uniquely positioned to contribute to the vast expansion of the world's clean power," commented Ian L. Edwards, president and chief executive officer of AtkinsRealis. "Candu technology is at the forefront of relevant, up-to-date and differentiated nuclear technologies in the world. We are honoured to help power Romania well into the end of the 21st century with these brand new Candu reactors. I would like to thank the government of Canada, who helped make this contract possible through export financing support of $3-billion. This also represents our first step in our expansion around the world as we aim to sell many more reactors."

"Canada is proud to stand at the forefront of the global clean energy transition, with Candu nuclear technology as a pillar of innovation and reliability," said Mary Ng, Minister of Export, Trade and Economic Development for Canada. "This collaboration in Romania highlights Canada's leadership in nuclear energy, providing clean, resilient solutions that enhance energy security, reduce emissions and support economic growth. Through this partnership, we're not only creating good, high-paying jobs and advancing sustainable growth, but we're also reinforcing Canada's commitment to a low-carbon future and strengthening resilient supply chains for a better world."

Candu new builds at Cernavoda

As the original equipment manufacturer of the Canadian-owned Candu technology, AtkinsRealis will provide design, engineering and procurement services as well as support to EnergoNuclear to meet European Union directives around the project and interfacing with Romania's nuclear power regulator, National Commission for Nuclear Activities Control (CNCAN). These two new units for Romania are the first Candu new builds in the world since Romania's Unit 2 nuclear reactor came on line in 2007; they signal a new era in the construction of large reactors in support of the nuclear supercycle in response to the increasing global demand for energy.

EnergoNuclear is the Romanian entity responsible for construction, commissioning and operation of Units 3 and 4 -- using Candu technology -- at Cernavoda. The initial first phase of the mandate is worth $224-million. After completion of the initial phase, EnergoNuclear has the option to issue a full notice to proceed with the services necessary to complete Units 3 and 4, subject to the agreement of commercial terms.

"Twenty-eight years of excellent operation of Cernavoda NPP Units 1 and 2, outstanding safety record, 230 million megawatt-hours into the grid, and 215 million tonnes of CO2 [carbon dioxide] avoided are the merits of Candu technology and human expertise. We are keen on extending the historic cooperation with AtkinsRealis for the deployment of Units 3 and 4 and provide Romania with long-term safe, reliable and clean energy. Nuclear energy is a major part of the global effort for deep decarbonization, and, by extending Candu nuclear capacities in Romania, we aim to prove that energy security, energy availability and energy resilience, together with 66 per cent of Romania's clean energy, can efficiently be provided by a single energy source -- nuclear -- based on years of experience, strategic partnerships and robust technology," stated Cosmin Ghita, chief executive officer of Nuclearelectrica.

With Candu Energy and most of its staff based in Mississauga, Ontario's Minister of Energy and Electrification Stephen Lecce commented: "Ontario is proud to lead in nuclear energy, providing clean, reliable and affordable power while positioning our province as a global leader in this critical sector. By exporting our nuclear expertise worldwide, we're showcasing Ontario's innovation and commitment to an affordable energy future. While we refurbish and expand nuclear fleets around the world, we are bringing jobs and investment back home for Ontario families and workers."

Candu technology in Romania -- a Canadian success story

The Cernavoda site houses Romania's only nuclear power plant. Providing about 20 per cent of the country's power, currently consisting of two Candu 6 reactors (Units 1 and 2) on a site layout that was originally constructed for five. Each reactor produces around 720 megawatts of clean power (24 hours a day, seven days a week) for the grid. The Unit 2 Candu reactor at Cernavoda holds the world record for highest capacity factor (composed of reliability and uptime) of any nuclear reactor globally. Romania is also preparing for the life extension of Unit 1 -- a project in which AtkinsRealis holds a central role.

Romania has avoided the release of over 215 million tonnes of CO2 since the two existing Candu units came on-line in 1996 and 2007, respectively. The long-term operation of Candu technology is central to helping Romania reach its goal of energy stability and decarbonization; including phasing out coal-fired power.

This project will also unlock Romania's potential to become a regional hub for energy security and clean electricity in Eastern Europe with the support of Canadian technology. The unique ability of Candu reactors to utilize unenriched uranium offers an additional layer of energy security through bypassing foreign fuel enrichment.

"Canadian Candu technology has served Romania well and is the right choice for the next 60 years," said Joe St. Julian, president, nuclear, AtkinsRealis. "The last seven Candu reactors built around the world and the ongoing life extension of 10 Candu reactors in Ontario have been conducted on time and on budget. We will employ our unmatched nuclear power know-how as the steward of this technology, to ensure a similarly successful outcome for the build of these two new units in Romania."

Candu technology also co-produces medical-grade life-saving isotopes to sterilize medical equipment worldwide and for use in both detecting and fighting cancer. Candu reactors in Canada produce 50 per cent of the world's supply of the Cobalt-60 isotope.

About AtkinsRealis Group Inc.

Created by the integration of long-standing organizations dating back to 1911, AtkinsRealis is a world-class engineering services and nuclear company dedicated to engineering a better future for the planet and its people. The company creates sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. The company deploys global capabilities locally to its clients and delivers unique end-to-end services across the whole life cycle of an asset, including consulting, advisory and environmental services, intelligent networks and cybersecurity, design and engineering, procurement, project and construction management, operations and maintenance, decommissioning, and capital. The breadth and depth of the company's capabilities are delivered to clients in strategic sectors such as engineering services, nuclear and capital.

About AtkinsRealis's nuclear business

AtkinsRealis has over 70 years of global nuclear expertise, delivering nuclear technology products and full-service solutions to nuclear utilities around the world. AtkinsRealis is the steward of Candu nuclear technology, operating on four continents, and provides advisory and engineering services to other nuclear developers. With an innovative technology portfolio, including access to over 500 patented solutions, AtkinsRealis solves technically complex challenges across the whole nuclear life cycle from design and new build through asset management and from life extension and late-life management through decommissioning and waste management. AtkinsRealis operates and manages government nuclear research sites, transforming ageing infrastructure and safely managing legacy nuclear waste. AtkinsRealis's Candu technology also allows for the co-production of medical radioisotopes for cancer detection and treatment. The company also supports cancer treatment through its partnership with TerraPower to extract isotopes from legacy nuclear material.

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