Aecon Utilities Investment Overview

Concessions Q3 2023 Results Revenue up by $4M, or 21%, quarter-over-quarter Primarily due to an increase in commercial flight operations at the Bermuda International Airport. Adjusted EBITDAⓇ up by $6M, or 32%, quarter-over-quarter and Operating Profit up by $144M, or 1,740%, quarter-over-quarter Q3 2023* Revenue ($M) Q3 2023 TTM* Revenue ($M) $74 +23% $26 $22 +21% $91 Q3 2022 Adj. EBITDA ($M) Q3 2023 Q3 2022 TTM Q3 2023 TTM Adj. EBITDA ($M) $89 $27 $68 +32% $21 +32% Q3 2023 Q3 2022 TTM Q3 2023 TTM Operating Profit ($M) Operating Profit ($M) Primarily driven by a gain related to the sale of a 49.9% interest in Skyport of $139.0 million, including a fair value remeasurement gain of $80.4 million on Aecon's 50.1% retained interest in Skyport, an improvement in operating results at the Bermuda International Airport, and from an increase in management and development fees. Q3 2022 ACCON Totals and variances may not add due to rounding and eliminations. This is a non-GAAP financial measure. Refer to Refer to page 2 in this presentation. $177 +801% $152.7 +1,740% $8.3 $20 Q3 2022 Q3 2023 Q3 2022 TTM Q3 2023 TTM 25

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