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Aecon and partners celebrate groundbreaking for the Clayton J. Lloyd International Airport Redevelopment project in Anguilla

Apr 9, 2024

Toronto, Ontario – April 9, 2024: Aecon Group Inc. (TSX: ARE) (“Aecon”) was pleased to join representatives from the Government of Anguilla, Avia NG, and local partner Kelly Construction to celebrate the groundbreaking milestone for the Clayton J. Lloyd International Airport Redevelopment Program Package 3 project in Anguilla.

The ceremony marked the start of construction on the island’s new 4,650 m2 airport terminal building, along with airside and landside works. Aecon has been awarded a US$48 million contract by the Anguilla Ministry of Infrastructure, Communications, Utilities, Housing and Tourism to deliver the project over a two-year construction schedule.

“We are pleased to bring our global airport redevelopment experience, extensive heavy civil expertise, and strong model for building and positioning airports for world-class outcomes,” said Jean-Louis Servranckx, President and CEO, Aecon. “This contract award aligns with our focus on selectively adding to our portfolio of international projects.”

“We look forward to working with our client and local partner to improve capacity, amenities, resiliency and passenger experience while creating local economic opportunities and community benefits,” said Marty Harris, Senior Vice President and Executive Lead, Civil East, Aecon.

Aecon’s balanced roster of international projects in the surrounding region also includes advancing a collaborative transition phase to redevelop the Cyril E. King Airport and the Henry E. Rohlsen Airport in the U.S. Virgin Islands as part of an Aecon-led consortium, with an equity interest in the project’s concession. Additionally, Aecon is modernizing the Kingstown Port in Saint Vincent and the Grenadines. Building on its success redeveloping the Quito International Airport in Ecuador, Aecon also redeveloped the L.F. Wade International Airport in Bermuda and remains the controlling shareholder of the concessionaire responsible for ongoing operations and maintenance. In the U.S., Aecon is steadily expanding its operations across priority markets with a strategic focus on projects linked to the energy transition.

The full groundbreaking ceremony can be watched here.

About Aecon

Aecon Group Inc. 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 which may constitute forward-looking information under applicable securities laws. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, strategies and outlook for Aecon. Forward-looking statements may in some cases be identified by words such as “may,” "will," “expects,” “target,” “future,” "plans," "believes," "anticipates," "estimates," "projects," "intends," "should" or the negative of these terms, or similar expressions. 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 including, but not limited to: the risk of not being able to meet contractual schedules and other performance requirements; the risk of not being able to meet its labour needs.

These forward-looking statements are based on a variety of factors and assumptions including, but not limited to that: none of the risks identified above materialize, there are no unforeseen changes to economic and market conditions, and no significant events occur outside the ordinary course of business. These assumptions are based on information currently available to Aecon, including information obtained from third-party sources. While the Company believes that such third-party sources are reliable sources of information, the Company has not independently verified the information. The Company has not ascertained the validity or accuracy of the underlying economic assumptions contained in such information from third-party sources and hereby disclaims any responsibility or liability whatsoever in respect of any information obtained from third-party sources.

Risk factors are discussed in greater detail in Section 13 - “Risk Factors” in the Management’s Discussion and Analysis filed on March 5, 2024, available through SEDAR+ ( 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.

For further information:

Adam Borgatti
SVP, Corporate Development and Investor Relations

Nicole Court
Vice President, Corporate Affairs