Aecon Utilities Investment Overview

Operating Profit & Adj. EBITDA Contribution By Segment Q3 2022 TTM results include net benefit from the Canada Emergency Wage Subsidy ("CEWS") program of $4.1M Operating Profit ($ Millions) Operating Profit Margin % Q3 2023 Q3 2022 % CHANGE Q3 2023 Q3 2022 BPS CHANGE Construction 1.3 63.4 98% Construction 0.1% 4.9% 480 Concessions 152.7 8.3 1740% Concessions nmf# nmf# nmf# TOTAL^ 140.1 61.0 130% TOTAL^ 11.3% 4.6% 670 Q3 2023 TTM Q3 2022 TTM Q3 2023 Q3 2022 % CHANGE TTM TTM BPS CHANGE Construction 53.5 116.1 54% Construction 1.1% 2.6% 150 Concessions 176.6 19.6 801% Concessions nmf# nmf# nmf# TOTAL 242.0 87.2 178% TOTAL^ 5.1% 1.9% 320 Adjusted EBITDA ($ Millions) @ * Adjusted EBITDA Margin % Q3 2023 Q3 2022 % CHANGE Q3 2023 Q3 2022 BPS CHANGE Construction 16.5 82.0 80% Construction 1.4% 6.3% 490 Concessions 27.4 20.7 32% Concessions nmf# nmf# nmf# TOTAL^ 32.0 92.6 65% TOTAL^ 2.6 7.0% 440 Q3 2023 Q3 2022 Q3 2023 Q3 2022 TTM TTM % CHANGE TTM TTM BPS CHANGE Construction 91.9 192.1 52% Construction 2.0% 4.3% 230 Concessions 89.3 67.8 32% Concessions nmf# nmf# nmf# TOTAL^ 140.7 213.0 34% TOTAL^ 2.9% 4.7% 180 ^ After corporate costs and eliminations. # Not Meaningful. ACCON This is a non-GAAP financial measure. Refer to page 2 in this presentation. *This is a non-GAAP ratio. Refer to page 2 in this presentation. 22 22

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