2022 Sustainability Report - Building a Sustainable Future

Highlighting Value Through Other Strategic Monetization Transactions strengthen balance sheet and complement strategic focus on investments in end markets related to energy transition and sustainability Sale of Aecon Transportation East Business To Green Infrastructure Partners Price & Overview Strategic Cooperation Agreement • 100% sale of Aecon Transportation East Business ("ATE”) to Green Infrastructure Partners Inc. ("GIP") for $235 million representing TTM Adjusted EBITDA multiple of ~8-9x ATE comprised of Aecon's roadbuilding, aggregates and materials businesses in Ontario and represented ~7% of Aecon's 2022 revenue Aecon and GIP have entered into a strategic cooperation agreement for certain major projects and pursuits in Ontario that leverages both Aecon's heavy civil construction services and GIP's roadbuilding capabilities 49.9% Sale of Bermuda International Airport Concessionaire To CC&L Infrastructure Price & Overview Management Structure Sale of 49.9% interest in the L.F. Wade International Airport (Bermuda International Airport) concessionaire, Bermuda Skyport Corporation Limited ("Skyport") to Connor, Clark & Lunn Infrastructure ("CC&L Infrastructure") for US$120 million in cash Aecon Concessions has retained the management contract for the airport and joint control of Skyport with a 50.1% retained interest Approvals • Closed on May 1, 2023 and Timing Approvals Closed on September 20, 2023 and Timing Strategic Rationale Shift towards opportunities related to decarbonization, energy transition and sustainability Consistent with Aecon's goal of targeting prudent balance sheet leverage and liquidity Helps reduce overall capital intensity of Aecon's business Strategic Rationale Highlights value of the Bermuda International Airport concession and underlines the contribution of the Concessions' portfolio of projects to Aecon Further strengthens Aecon's balance sheet while preserving capital for other long-term growth and concession opportunities Partnership with an experienced infrastructure investment firm demonstrates investor confidence in the future of Bermuda's long-term prospects ACCON This is a non-GAAP financial measure. Refer to page 2 in this presentation. Represents the implied $235 million enterprise value for ATE divided by 2022 Adj. EBITDA. 7

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