Aecon consortium reaches monetary shut on the Yonge North Subway Extension Advance Tunnel undertaking in Ontario

Toronto, Ontario – August 6, 2025: Aecon Group Inc. (TSX: ARE) (“Aecon” or the “Company”) introduced immediately that North End Connectors, an Aecon-led consortium during which it holds a 33.3% curiosity, has reached monetary shut with Infrastructure Ontario and Metrolinx on the Yonge North Subway Extension Advance Tunnel undertaking in Ontario. The contract is valued at $1.4 billion, and Aecon’s $477 million share of the contract might be added to its Construction section backlog within the third quarter of 2025. Aecon beforehand disclosed this addition to backlog in its second quarter 2025 monetary outcomes, launched on July 31, 2025.

North End Connectors, comprised of Aecon, FCC Construcción and Ghella, will design and assemble an roughly 6.3-kilometre tunnelled section, launch and extraction shafts, and headwalls for emergency exit buildings and stations. The scope of labor additionally consists of the provision of tunnel boring machines, the set up of tunnel liners and different supporting actions. The undertaking will lengthen the TTC’s Line 1 subway service roughly 8 kilometres from the present terminus at Finch Station in Toronto to York Region, serving communities in Markham, Vaughan and Richmond Hill.

“This transformative subway extension will improve access to transit for local residents, reduce travel times, support economic growth, and help to meet the needs of growing populations along the alignment,” mentioned Jean-Louis Servranckx, President and Chief Executive Officer, Aecon Group Inc.

“Together with our partners, we look forward to bringing our expertise in safely and successfully delivering major transit tunnelling projects to connect communities in the Greater Toronto Area while working collaboratively with Infrastructure Ontario and Metrolinx,” mentioned Thomas Clochard, Executive Vice President, Civil and Nuclear, Aecon Group Inc.

Further details about the undertaking is out there on the Infrastructure Ontario and Metrolinx web sites.

About Aecon

Aecon Group Inc. (TSX: ARE) is a North American development and infrastructure improvement firm with world expertise. Aecon delivers built-in options to personal and public-sector shoppers by its Construction section within the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and supplies undertaking improvement, financing, funding, administration, and operations and upkeep providers by its Concessions section. Join our on-line group on X, LinkedIn, Facebook, and Instagram @AeconGroupInc.

Statement on Forward-Looking Information

The data on this press launch consists of sure forward-looking statements which can represent forward-looking data below relevant securities legal guidelines. These forward-looking statements are based mostly on at present out there aggressive, monetary and financial information and working plans however are topic to dangers and uncertainties. Forward-looking statements could embody, with out limitation, statements concerning the operations, enterprise, monetary situation, anticipated monetary outcomes, efficiency, prospects, ongoing goals, methods and outlook for Aecon, together with statements concerning: the anticipated graduation and completion of the undertaking, and the anticipated advantages of the subway extension on native residents and rising populations. Forward-looking statements could in some circumstances be recognized by phrases reminiscent of “may,” “will,” “expects,” “target,” “future,” “plans,” “believes,” “anticipates,” “estimates,” “projects,” “intends,” “should” or the adverse of those phrases, or related expressions.

In addition to occasions past Aecon’s management, there are elements which may trigger precise or future outcomes, efficiency or achievements to vary materially from these expressed or inferred herein together with, however not restricted to, the chance of not with the ability to meet contractual schedules and different efficiency necessities, the dangers related to a 3rd social gathering’s failure to carry out; the chance of not with the ability to meet its labour wants at affordable prices; the chance of not with the ability to tackle any provide chain points which can come up; the chance of the anticipated advantages from the undertaking not being absolutely realized. These forward-looking statements are based mostly on a wide range of elements and assumptions together with however not restricted to that: not one of the dangers recognized above materialize, there are not any unexpected adjustments to financial and market circumstances and no vital occasions happen exterior the strange course of enterprise. These assumptions are based mostly on data at present out there to Aecon, together with data obtained from third-party sources. While Aecon believes that such third-party sources are dependable sources of data, Aecon has not independently verified the knowledge. Aecon has not ascertained the validity or accuracy of the underlying financial assumptions contained in such data from third-party sources and hereby disclaims any duty or legal responsibility in anyway in respect of any data obtained from third-party sources.

Risk elements are mentioned in higher element in Section 13 – “Risk Factors” in Aecon’s 2024 Management’s Discussion and Analysis for the fiscal 12 months ended December 31, 2024 and Aecon’s Management’s Discussion and Analysis for the fiscal quarter ended June 30, 2025, every filed on SEDAR+ (www.sedarplus.ca). Except as required by relevant securities legal guidelines, forward-looking statements communicate solely as of the date on which they’re made and Aecon undertakes no obligation to publicly replace or revise any forward-looking assertion, whether or not because of new data, future occasions or in any other case.

For additional data:

Adam Borgatti
SVP, Corporate Development and Investor Relations
416-297-2600
ir@aecon.com

Nicole Court
Vice President, Corporate Affairs and Communications
416-297-2600
corpaffairs@aecon.com