Capital Markets Overview

Major Projects & Concessions Provide Stability Bermuda Airport Waterloo LRT Project Timeline (Starting from 2021) 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2047 2049 2052 2053 2054 >>> 2033 Eglinton LRT Finch West LRT Gordie Howe Bridge Bruce Power Darlington Refurbishment Pattullo Bridge Eglinton West Tunnel Winnipeg North End REM Montreal Kicking Horse Canyon Site C Hwy 401 Expansion Construction Equity and Maintenance Equity, Operations and Maintenance Opportunity P3 Concessions* Bermuda Airport US$274 million; construction started 2017 and completed 2020; 100% equity stake and 30 year concession began in 2017 Waterloo LRT $583 million; construction started 2014 and completed 2019; 10% equity stake and 30 year concession began in 2019 Eglinton LRT $5.3 billion; construction started 2015 and target completion 2022; 25% equity stake and 30 year concession post construction Finch West LRT $2.5 billion; construction started 2018 and target completion 2023; 33% equity stake and 30 year concession construction Gordie Howe Bridge post $5.7 billion; construction started 2018 and target completion 2024; 20% equity stake and 30 year concession post construction Other Major Projects* Bruce Power Nuclear Refurbishment ~$900 million for the first two of six total units for fuel channel and feeder replacement (FCFR). First unit (U6) started in 2020 and second unit (U3) to be started in 2022. Aecon consortium has a Preferred Supplier Agreement with Bruce Power for subsequent four units; total potential project duration to ~2033. Aecon JV was also awarded the first three of six steam generator unit replacements (SGR). Darlington Nuclear Refurbishment $2.75 billion; 10 year project started 2016 Pattullo Bridge Replacement $968 million; 5 year project started 2020 Eglinton Crosstown West Extension Tunnel $729 million; 4 year project started 2021 Winnipeg North End Sewage Plant $272 million; 4 year project started 2021 REM LRT Montreal $6.9 billion; 6 year project started 2018 Kicking Horse Canyon - Phase 4 $441 million; 4 year project started 2020 Site C Generating Station & Spillways $1.6 billion; 5 year project started 2018 HWY 401 Expansion $640 million; 3 year project started 2019 ACCON Dates above are general estimates of completion and may not reflect final completion date * Values reflect total project size, not necessarily Aecon's share, as all projects listed are with partners except Bermuda Airport 6

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