Slide 1: Second Quarter 2026 Results
S E C O N D Q U A R T E R 2 0 2 6 R E S U LT S Aecon Group Inc. July 31, 2026 aecon.com TSX: ARE
Slide 2: Forward-Looking Information
SECOND QUARTER 2026 | AECON GROUP INC. Forward-Looking Information The information in this presentation includes certain forward-looking statements which may constitute forward-looking information under applicable securities laws. These forward-looking statements are based on currently Non-GAAP & Su
Slide 3: Second Quarter 2026 Highlights
SECOND QUARTER 2026 | AECON GROUP INC. Second Quarter 2026 Highlights $ Record Q2 Revenue Adjusted EBITDA1 Improvement Record Q2 revenue of $1.6B, increased $329 million, or 25%, Adjusted EBITDA1 improved significantly in the quarter to $82 million over the same period last year versus $41 million l
Slide 4: Q2 2026 Financial Results
SECOND QUARTER 2026 | AECON GROUP INC. Q2 2026 Financial Results 1 bps = basis point 2 This is a non-GAAP financial measure. Refer to page 2 in this presentation 3 This is a non-GAAP financial ratio. Refer to page 2 in this presentation 4 This is a supplementary financial measure. Refer to page 2 in
Slide 5: Construction Q2 2026 Results
SECOND QUARTER 2026 | AECON GROUP INC. Construction Q2 2026 Results Revenue up by $335M, or 26%, period-over-period Q2 20261 Q2 2026 TTM1 New awards of $1,271M in Q2 2026 Revenue (C$M) Revenue (C$M) 2,000 +26% 6,000 +22% 5,953 1,633 5,000 4,881 $138M in utilities operations driven by a higher volume
Slide 6: Construction Q2 2026 Results (continued)
SECOND QUARTER 2026 | AECON GROUP INC. Construction Q2 2026 Results (continued) 2 Q2 20261 Q2 2026 TTM1 Adjusted EBITDA up by $50M period-over-period Operating Profit up by $44M period-over-period Adjusted EBITDA2 (C$M) Adjusted EBITDA2 (C$M) 100 350 90 313 300 80 Improvement in gross profit margin
Slide 7: Concessions Q2 2026 Results
SECOND QUARTER 2026 | AECON GROUP INC. Concessions Q2 2026 Results Q2 20261 Q2 2026 TTM1 Revenue (C$M) Revenue (C$M) Revenue down by $0.2M period-over-period 2.0 1.8 12 10.1 1.6 10 1.5 8.2 8 1.0 6 4 0.5 2 2 Adjusted EBITDA down by $5M, or 30% period-over-period 0.0 Q2 2025 Q2 2026 0 Q2 2025 TTM Q2 2
Slide 8: Financial Position, Liquidity and Capital Resources
SECOND QUARTER 2026 | AECON GROUP INC. Financial Position, Liquidity and Capital Resources No debt or working capital credit facility maturities until 2029, except equipment and property loans and leases in the normal course 1 Includes Preferred Shares of Aecon Utilities and Long-Term Debt2 Net deb
Slide 9: Purchase of Preferred Shares
SECOND QUARTER 2026 | AECON GROUP INC. Purchase of Preferred Shares Purchase of Preferred Shares Aecon Utilities Revenue Diversification (Q1 2026 Pro Forma TTM)2 Aecon entered into an agreement on June 25, 2026 to purchase the convertible preferred End-Markets Geography equity investment (the “Prefe
Slide 10: Diverse Business Model
SECOND QUARTER 2026 | AECON GROUP INC. Diverse Business Model CONSTRUCTION C$5,953M1 C$313M1,6 CONCESSIONS C$259M C$45M1,6 June 30, 2026 net book value of equity Q2 2026 TTM Revenue Q2 2026 TTM Adj. EBITDA Q2 2026 TTM Adj. EBITDA investments and long-term financial assets Bermuda International Airpo
Slide 11: Strong Backlog & Growing Recurring Revenue Profile
SECOND QUARTER 2026 | AECON GROUP INC. Strong Backlog & Growing Recurring Revenue Profile Reported backlog excludes potential construction scope of collaborative and progressive design projects currently under development Total Backlog (C$M)2 and Duration Backlog Contract Type Recurring Revenue (C$M
Slide 12: Gordie Howe International Bridge Completion
SECOND QUARTER 2026 | AECON GROUP INC. Gordie Howe International Bridge Completion Substantial Completion: Official Opening: 20% Interest in the design, build and finance 30-year Concession - for operations, June 9, 2026 July 27, 2026 phases maintenance and rehabilitation BRIDGE QUICK FACTS 15,800 2
Slide 13: Recent Awards
SECOND QUARTER 2026 | AECON GROUP INC. Recent Awards Other Significant Awards Currently in Development Phase Greenlight Electricity Centre Roberts Bank Terminal 2 - Landmass and Wharf1 Pickering Nuclear Greenlight Electricity Centre Refurbishment An Aecon consortium was awarded a multi-billion dolla
Slide 14: Outlook
SECOND QUARTER 2026 | AECON GROUP INC. Outlook Aecon expects double digit revenue growth in 2026. The revenue growth outlook is based on secured backlog exceeding $10 billion, recurring revenue programs, recent acquisitions, and a pipeline of project opportunities tied to nuclear and conventional po
Slide 15: Appendix
SECOND QUARTER 2026 | AECON GROUP INC. Appendix 15
Slide 16: Non-GAAP Measures Quantitative Reconciliation
SECOND QUARTER 2026 | AECON GROUP INC. Non-GAAP Measures Quantitative Reconciliation 1 This is a non-GAAP financial measure. Refer to page 2 in this presentation 2 Totals may not add due to rounding 16
Slide 17: Non-GAAP Measures Quantitative Reconciliation (continued)
SECOND QUARTER 2026 | AECON GROUP INC. Non-GAAP Measures Quantitative Reconciliation (continued) 1 This is a non-GAAP financial measure. Refer to page 2 in this presentation 2 This is a non-GAAP financial ratio. Refer to page 2 in this presentation 3 Costs (gains) related to business acquisitions in
Slide 18: Contact
CONTACT Adam Borgatti Vancouver Toronto SVP, Corporate Development & Investor Relations 1055 Dunsmuir Street, Suite 2124 20 Carlson Court, Suite 105 aborgatti@aecon.com Vancouver, BC V7X 1G4 Toronto, ON M9W 7K6 Calgary Montreal Edison Cheung 28 Quarry Park Blvd SE, Suite 310 2015 Peel Street, Suite