Capital Markets Overview

Construction Q3 2021 Results Revenue up by $108M, or 10%, quarter-over-quarter $81M in Nuclear operations driven by higher volume of refurbishment work at the Darlington and Kincardine nuclear generating stations, both located in Ontario $49M in Utilities operations primarily due to increased volume of oil and gas distribution and telecommunications work, partially offset by lower high-voltage electrical transmission work $26M in Industrial operations driven by a higher volume of field construction work at gas and chemical facilities partially offset by decreased activity on mainline pipeline work in western Canada. $48M in Civil operations and Urban Transportation Systems driven by lower roadbuilding construction work Adjusted EBITDAⓇ down by $49M, or 37%, quarter-over-quarter Higher volume and gross profit margin in Nuclear and Utilities operations Lower volume from civil operations and urban transportation systems Impact of CEWS program in 2020 totaling $69M New awards higher by $218M, or 50%, quarter-over-quarter Driven by strong demand across Canada in smaller and medium sized projects. During the first nine months of 2021, Aecon was awarded a number of multi-year projects including the replacement of steam generators at Units 3 and 4 of the nuclear generating station in Kincardine, Ontario, construction of the Eglinton Crosstown West Extension Advance Tunnel project in Toronto, Ontario, and the North End Sewage Treatment Plant Upgrade: Headworks Facilities Project in Winnipeg, Manitoba * Totals and variances may not add due to rounding and eliminations This is a non-GAAP financial measure. Refer to Section 4 "Non-GAAP And Supplementary Financial Measures" in the Company's Q3 2021 MD&A. ACCON Q3 2021* Revenue ($M) Q3 2021 TTM* Revenue ($M) $1,142 $3,907 $1,035 $3,450 +10% +13% Q3 2020 Q3 2021 Q3 2020 TTM Q3 2021 TTM Adj. EBITDA ($M) Adj. EBITDA ($M) $131 $236 $241 -37% $82 +2% Q3 2020 (12.7% margin) Q3 2021 (7.2% margin) Q3 2020 TTM (6.8% margin) Q3 2021 TTM (6.2% margin) New Awards ($M) New Awards ($M) $657 $3,539 $3,276 $439 +50% -7% Q3 2020 Q3 2021 Q3 2020 TTM Q3 2021 TTM 20

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