Aecon Announces Agreement to Purchase Preferred Shares of Aecon Utilities

Article content

Acquisition-related pro forma Adjusted EBITDA is derived from Adjusted EBITDA, which is a non-GAAP financial measure (as defined above). Management believes that the presentation of pro forma revenue and pro forma Adjusted EBITDA provides useful information to investors regarding the scale, earnings profile, and potential financial impact of the acquisition as if it had been completed at the beginning of the period and assists in period-over-period comparability.

Article content

Statement on Forward-Looking Information

Article content

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 known and unknown risks, assumptions and uncertainties. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, the payment of dividends, the repurchase of shares, performance, prospects, ongoing objectives, strategies and outlook for Aecon, including statements regarding: the closing of the Transaction and the expected timing thereof; the funding of the purchase price; the anticipated benefits of the Transaction described herein; expectations regarding Aecon’s adjusted earnings per share; the uncertainties related to the unpredictability of global economic conditions; expectations regarding operational and financial performance; expectations regarding the pipeline of opportunities tied to power generation, critical resource development, mass transit infrastructure, water, and defence available to Aecon; and expectations regarding growth, and the acceleration thereof, of Aecon in Canada and the U.S. Forward-looking statements may in some cases be identified by words such as “will,” “plans,” “schedule,” “forecast,” “outlook,” “completing,” “mitigating,” “potential,” “possible,” “maintain,” “seek,” “cost savings,” “synergies,” “strategy,” “goal,” “indicative,” “may,” “could,” “might,” “can,” “believes,” “expects,” “anticipates,” “aims,” “assumes,” “upon,” “commences,” “estimates,” “projects,” “intends,” “prospects,” “targets,” “occur,” “continue,” “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 close the Transaction, the risk of not being able to realize the expected benefits and opportunities resulting from the Transaction; the risk of not being able to meet contractual schedules and other performance requirements on large, fixed priced contracts; the risks associated with a third party’s failure to perform; the risk of not being able to execute its strategy of building strong partnerships and alliances; the risk of not being able to identify and capitalize on strategic operational investments; the risks associated with the seasonal nature of its business; the risks associated with changing levels of demand for Aecon’s services; the risks associated with being able to participate in large projects; risks associated with future pandemics, epidemics and other health crises and Aecon’s ability to respond to and implement measures to mitigate the impact of such pandemics or epidemics; the risk of the anticipated benefits and synergies from strategic acquisition transactions not being fully realized or taking longer than expected to realize; the risk of being unable to retain key personnel; the risk of being unable to maintain relationships with customers, suppliers or other business partners; and various other risk factors described in Aecon’s filings with the securities regulatory authorities, which are available under Aecon’s profile on SEDAR+ (www.sedarplus.ca), including the risk factors described in Section 13 – “Risk Factors” in the 2026 annual Management’s Discussion and Analysis (“MD&A”) for the fiscal year ended March 31, 2026 and in Aecon’s MD&A for the fiscal quarter ended March 31, 2026, and in other filings made by Aecon with the securities regulatory authorities in Canada.

Article content

Article content

Forward-looking statements are presented for the purpose of helping investors and others in understanding certain key elements of Aecon’s current objectives, strategic priorities, expectations and plans, and to gather a better understanding of Aecon’s business and operating environment. 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 and assumptions regarding the outcome of the outstanding claims in respect of the fixed price legacy projects being performed by joint ventures in which Aecon is a participant. 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.

Article content

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.

Article content

For further information:

Article content

Adam Borgatti
SVP, Corporate Development and Investor Relations
416-297-2600
[email protected]

Article content

Nicole Court
Vice President, Corporate Affairs and Communications
416-297-2600
[email protected]

Article content

Article content

Article content

Article content

Article content

Article content