Mr. Ian Edwards reports

BRUCE POWER RENEWS 10-YEAR MSA WITH ATKINSREALIS; EXPECTED TO BE FOR UP TO $1B IN ADDITIONAL WORK

Candu Energy Inc., an Atkinsrealis Group Inc. company, has renewed a 10-year master service agreement with Bruce Power -- operator of eight Candu reactors -- at its Tiverton nuclear station, one of the largest in the world, that supplies Ontario with 30 per cent of its power. The MSA runs until 2035 and, subject to future Bruce Power contracting awards, covers possible future scopes of work for Atkinsrealis expected to be worth up to $1-billion. This new long-term collaboration with Bruce Power replaces the previous MSA signed in 2015 between the same parties, which was set to expire at the end of this year.

"The renewal of this MSA is a testament to the strength of our relationship with Bruce Power and the confidence they place in our work as the steward of Candu technology," said Ian L. Edwards, president and chief executive officer, Atkinsrealis. "Our continued long-term support for their Candu-powered station is critical to Ontario's energy security and clean power goals. We look forward to many more years of collaboration together, building on the success of the prior MSA."

Developed collaboratively with Bruce Power, the renewed MSA spans Candu Energy's entire scope of capabilities for future packages of work not covered by its existing life extension contracts through the Shoreline Power Group joint venture. This includes all original equipment manufacturer services and innovation scopes that support the continuing health and maintenance of the Bruce Power station, such as reactor core engineering, tooling and robotics, parts supply, nuclear safety and licensing, project management and controls, outages, reactor programs, and life cycle management. The MSA will streamline future contract negotiations, allowing an even more efficient focus on cost and schedule delivery.

"This is a homegrown partnership that aligns closely with Bruce Power's Canadian at our core strategy that secures good jobs, strengthens the economy, and builds on Ontario's position as a world leader in the production of clean energy and cancer-fighting medical isotopes," said James Scongack, Bruce Power chief operating officer and executive vice-president. "These types of long-term frameworks recognize that our nuclear industry is successful when we plan for the long term with rigour and certainty leading to high levels of safety, quality, schedule and cost performance."

Atkinsrealis, the original equipment manufacturer of Candu technology, has supported Bruce Power's $13-billion, on-time and on-budget life extension program over the past decade, ensuring six Candu reactors at its station run until 2064. The company has also provided operational support, including mock-up facilities, waste storage, training and lab spaces to Bruce Power.

"As OEM of Candu technology, our nuclear sector has a strong reactor support capability in addition to our new build and life extension offering," said Joe St. Julian, president, nuclear, Atkinsrealis. "This makes us a trusted vendor to utilities worldwide for ongoing engineering, outage and field services, and spare parts support to the installed Candu fleet. As Canada focuses on how to unlock economic growth through infrastructure megaprojects, we are privileged to support Bruce Power and its investment in the country's only domestically designed and owned nuclear power technology, one that relies on approximately 89,000 jobs nationwide."

Candu technology: making a difference for Ontario

Atkinsrealis has injected over $2.3-billion in purchase orders into the Candu supply chain across roughly 550 companies in the past 19 months. Ninety per cent of this investment was issued to Canadian suppliers, highlighting the depth and breadth of the Candu supply chain within Canada.

Atkinsrealis has also deepened its long-standing involvement in the Bruce county region over the past year, including opening a modernized, larger office in Port Elgin. The company is a founding member of the locally based Nuclear Innovation Institute and contributes to numerous initiatives in support of local communities of the Saugeen Ojibway Nation, as well as community facilities in the region, such as schools, food banks and local employment institutes.

About Atkinsrealis Group Inc.

Created by the integration of long-standing organizations dating back to 1911, Atkinsrealis is a world-class engineering service and nuclear company dedicated to engineering a better future for the planet and its people. It creates sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. It 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.

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