Aecon Utilities Investment Overview

Q3 2023 Financial Results Q3 2022 TTM results include net benefit from the Canada Emergency Wage Subsidy ("CEWS") program of $4.1 million $ Millions (except per share amounts) Three Months Ended September 30 Twelve Months Ended September 2023 2022 Change+ 2023 2022 Change+ Revenue 1,240 1,321 6% 4,781 4,518 Gross Profit 45.7 118.6 61% 256.4 351.6 6% ▼ 27% Gross Profit Margin %& 3.7% 9.0% 530 bps 5.4% 7.8% Adjusted EBITDAⓇ 32.0 92.6 65% 140.7 213.0 240 bps 34% Adjusted EBITDA Margin %* 2.6% 7.0% 440 bps 2.9% 4.7% 180 bps Operating Profit 140.1 61.0 ▲ 130% 242.0 87.2 ▲ 178% Profit 133.4 34.5 ▲ 287% 171.9 22.8 654% Earnings per share - diluted 1.63 0.45 ▲ 262% 2.20 0.37 487% New Awards 591 991 40% 4,707 4,751 1% Backlog (at end of period)Ⓡ 6,202 6,275 1% 6,202 6,275 1% +bps = basis point This is a non-GAAP financial measure. Refer to page 2 in this presentation. *This is a non-GAAP financial ratio. Refer to page 2 in this presentation. ACCON & This is a supplementary financial measure. Refer to page 2 in this presentation. 16

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