Aecon : and partners sign teaming agreement to plan ORLEN Synthos Green Energy’s Small Modular Reactor fleet deployment in Poland

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Aecon and partners sign teaming agreement to plan ORLEN Synthos Green Energy's Small Modular Reactor fleet deployment in Poland

Jun 28, 2024

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Toronto, Ontario- June 28, 2024: Aecon Group Inc. (TSX: ARE) ("Aecon") announced today that it has signed a teaming agreement with ORLEN Synthos Green Energy ("OSGE"), AtkinsRéalis, and GE Hitachi ("GEH")to plan the deployment of a fleet of GEH BWRX-300 Small Modular Reactors ("SMRs") in Poland.

Under the teaming agreement, Aecon will support OSGE, the owner and developer, with construction and fabrication planning, as well as project management. At the signing ceremony held today in Warsaw, Canada's Minister of Export Promotion, International Trade and Economic Development, Mary Ng, and Ambassador of Canada to Poland, Catherine Godin, were on-handwith partners asAecon and AtkinsRéalis also signed bi-lateral agreements with OSGE for their respective scopes.

"We're pleased to bring our full spectrum of construction solutions to support OSGE in collaboratively planning the deployment of the next generation of nuclear technology, contributing to the supply of clean, reliable and affordable electricity in Poland," said Thomas Clochard, Executive Vice President, Nuclear and Civil, Aecon. "Aecon is at the forefront of advancing the energy transition with nuclear power. The deployment of SMRs is playing a significant role in achieving global sustainability targets and is a key component of Aecon's strategic growth under collaborative project delivery models."

Aecon is the Canadian constructor of North America's first grid-scale SMR - building GE Hitachi's first-of-a-kind BWRX-300 reactor through the Darlington New Nuclear Project in Ontario - and is delivering the two largest ongoing nuclear refurbishment projects in North America for Ontario Power Generation and Bruce Power with its partner AtkinsRéalis. Aecon is also executing the North Anna Power Station Condenser and Feedwater Heater Replacement project in Virginia, and the Savannah River Nuclear Solutions Dismantlement and Removal project in South Carolina.

About Aecon

Aecon Group Inc. (TSX: ARE) is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment. Join our online community on X, LinkedIn, Facebook, and Instagram @AeconGroupInc.

Statement on Forward-Looking Information

The information in this press release includes certain forward-looking statements, including statements regarding the role of nuclear technology in achieving global sustainability targets. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. In addition to events beyond Aecon's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein, as discussed in greater detail in Section 13 - "Risk Factors" in the Interim Management's Discussion and Analysis (MD&A) filed on April 24, 2024 and the 2023 Annual MD&A filed on March 5, 2024, available through SEDAR+ (www.sedarplus.ca). Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

For further information:

Adam Borgatti
SVP, Corporate Development and Investor Relations
416-297-2600
[e-mail]

Nicole Court
Vice President, Corporate Affairs
416-297-2600
[e-mail]