Mr. Jason Sharpe of Atco reports

ATCO'S YELLOWHEAD PIPELINE RECEIVES FINAL AUC APPROVAL, CONSTRUCTION TO BEGIN IMMEDIATELY

The Alberta Utilities Commission (AUC) has approved the Yellowhead pipeline project from Canadian Utilities Ltd., an Atco company, clearing the way for construction of a $2.9-billion natural gas infrastructure project that will support Alberta's continued economic growth, industrial expansion and rising energy demand. The approved project will consist of the construction and operation of a 235-kilometre, 36-inch-diameter natural gas transmission pipeline from the Peers area to the Fort Saskatchewan area and one compressor station. The pipeline is already fully contracted, signifying the demand for natural gas to fuel Alberta's growth and attract investment to the province.

Highlights:

• Alberta Utilities Commission approves the construction and operation of the facilities for the Yellowhead pipeline project; construction is set to begin immediately.
• Atco is leading energy infrastructure investment, furthering resource accessibility and economic opportunity in Alberta.
• With an estimated investment of $2.9-billion, the natural gas pipeline project is expected to create approximately 2,000 direct construction jobs and catalyze significant downstream economic development, supporting an estimated 12,000 additional construction jobs and 20,000 permanent jobs annually once associated downstream investments are operational.
• Once operational, the downstream investments driven by Yellowhead are estimated to contribute $3.9-billion annually to Alberta's GDP (gross domestic product).

"The Yellowhead Pipeline will help meet Alberta's growing need for safe, reliable and affordable energy while supporting continued economic growth across the province," said Jason Sharpe, chief operating officer, Atco Energy Systems. "With our extensive natural gas infrastructure experience and strong partnerships with contractors, crews, communities and Treaty 6 Nations, Atco is ready to move this critical project into construction."

The Yellowhead pipeline is an important infrastructure project for the company, investing an estimated $2.9-billion to support Alberta's economic growth and industrial expansion. As Alberta attracts industry and investments, natural gas plays a vital role as reliable energy, powering homes, hospitals, industry and tech innovators alike. Once in service, the pipeline will deliver over 1.1 billion cubic feet of natural gas to the system per day. For context, that is the same amount of energy delivered by Alberta's entire electricity system on a peak day.

All major pipeline and compressor contracts, including supply and materials, have been awarded. The project also has significant contracting opportunities with Treaty 6 Nations and local subcontractors, leveraging extensive local and industry expertise to deliver the project.

Canadian Utilities and its subsidiary and affiliate companies have approximately 8,600 employees and assets of $25-billion. Canadian Utilities, an Atco company, is a diversified global energy infrastructure corporation delivering essential services and innovative business solutions. Atco Energy Systems delivers energy for an evolving world through its electricity and natural gas transmission and distribution and international electricity operations segments. Atco EnPower creates sustainable energy solutions in the areas of electricity generation, energy storage, industrial water and cleaner fuels. Atco Australia develops, builds, owns and operates energy and infrastructure assets.

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