Aecon Utilities Investment Overview

Overview of Aecon Utilities Large and diverse utility infrastructure provider in Canada with a growing U.S. presence Financial Highlights 19%^ of Aecon's Construction Segment Revenue in Q3'23 TTM Period $361M Backlog at Q3'23 24% Electrical Transmission & Distribution Services for substations, tower assembly and installation, including high-voltage transmission Diversified Business Across Key End Markets 20% Renewables/ In-Home Services Solar, GeoExchange, battery storage, smart home, hybrid 27% Telecom Turnkey fibre installation, legacy network and 5G network expansion heating and HVAC US Expansion $693M Q3'23 TTM Recurring Revenue (75% of Total Aecon Utilities Revenue) 29% Pipeline Distribution Natural gas gathering systems, distribution services maintenance, facilities construction, water distribution Significant opportunities through Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BIL) Energy Transition Energy transition is a key theme in all of Aecon Utilities' core end-markets Revenue ($M) $918 $928 19% CAGR $82M @ $810 $647 $550 Q3'23 TTM Adjusted EBITDA 2019A 2020A 2021A 2022A Q3' 23 TTM ACCON ^ After Construction segment intercompany eliminations for Aecon Utilities This is a non-GAAP financial measure. Refer to page 2 in this presentation. LO

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