Aecon alliance selected for the Hamilton Light Rail Transit Civil and Utilities Works project in Ontario

Aecon Group Inc. (TSX: ARE) (“Aecon”) announced today that Hamilton LRT Civil & Utilities Alliance has been selected by Metrolinx as the development partner for the Hamilton LRT Civil and Utilities Works project in Ontario. Under the alliance, Metrolinx is the project owner, Aecon is the construction partner responsible for project delivery, and a joint venture between Hatch, Egis and Systra is the design partner.

Hamilton LRT Civil & Utilities Alliance has executed an alliance development phase agreement with Metrolinx to collaboratively negotiate scope, cost, and schedule of various elements of the project. The development phase will be approximately 18 to 24 months and will be followed by the construction implementation phase.

The Hamilton LRT will bring 14 kilometres of modern, reliable and frequent LRT service across Hamilton’s downtown core from McMaster University to Eastgate, with connections to key destinations and institutions along the corridor. The 17-stop LRT line will also feature connections to GO Transit and Hamilton’s HSR bus service.

“Aecon’s experience building some of the most transformative transit projects of this generation, including three modern LRTs in Ontario, will be of great value to this critical project for Hamilton,” said Jean-Louis Servranckx, President and Chief Executive Officer, Aecon Group Inc. “We are harnessing the collective strengths of our civil and utilities teams to self-perform this vital project. The collaborative development phase provides benefits to all stakeholders, and we look forward to working with our client to advance this project that will improve mobility for growing communities.”

Further information about the project is available on the Metrolinx website.

About Aecon
Aecon Group Inc. (TSX: ARE) 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. Join our online community on X, LinkedIn, Facebook, and Instagram @AeconGroupInc.

Statement on Forward-Looking Information
The information in this press release includes certain forward-looking statements which may constitute forward-looking information under applicable securities laws. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, strategies and outlook for Aecon, including statements regarding the various phases of the project and expectations regarding project timelines, and the anticipated mobility benefits for the communities. Forward-looking statements may in some cases be identified by words such as “may,” “will,” “expects,” “target,” “future,” “plans,” “believes,” “anticipates,” “estimates,” “projects,” “intends,” “should” or the negative of these terms, or similar expressions.

In addition to events beyond Aecon’s control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein including, but not limited to, the risk of not being able to meet contractual schedules and other performance requirements, the risks associated with a third party’s failure to perform; the risk of not being able to meet its labour needs at reasonable costs; the risk of not being able to address any supply chain issues which may arise; the risk of the anticipated benefits from the project not being fully realized; and the risk of not being able to complete the collaborative development phase and construction implementation phase as anticipated. These forward-looking statements are based on a variety of factors and assumptions including but not limited to that: none of the risks identified above materialize, there are no unforeseen changes to economic and market conditions, and no significant events occur outside the ordinary course of business. These assumptions are based on information currently available to Aecon, including information obtained from third-party sources. While Aecon believes that such third-party sources are reliable sources of information, Aecon has not independently verified the information. Aecon has not ascertained the validity or accuracy of the underlying economic assumptions contained in such information from third-party sources and hereby disclaims any responsibility or liability whatsoever in respect of any information obtained from third-party sources.

Risk factors are discussed in greater detail in Section 13 - “Risk Factors” in Aecon’s 2025 Management’s Discussion and Analysis for the fiscal year ended December 31, 2025, and in Aecon’s Management’s Discussion and Analysis for the fiscal quarter ended March 31, 2026, filed on SEDAR+ (www.sedarplus.ca). Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.