Slide 1: Built for Success: Investor Presentation August 11, 2015
Slide 2: Forward-Looking Information
FORWARD-LOOKING INFORMATION The information in this presentation includes certain forward-looking statements. 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 ev
Slide 3: Leader in Construction and Infrastructure Development
LEADER IN CONSTRUCTION AND INFRASTRUCTURE DEVELOPMENT CANADIAN LEADER ae REVENUE BY SEGMENT” EXPERTISE IN THREE CONSTRUCTIONAND = GSS™ : ald DNERSE MARKET INFRASTRUCTURE SEGMENTS: ENERGY, DEVELOPME INFRASTRUCTURE AND PROVIDING °26 BN BACKLOG ‘ MINING WTEGRATED TURKEY 90-0 BN RECURRING REVENUE ; SOLU
Slide 4: Diversity & Scale in Our Key Market Segments
DIVERSITY & SCALE — COAST 10 COAST IN OUR KEY MARKET SEGMENTS ENERGY INFRASTRUCTURE ‘MINING CONCESSIONS ey 1%" <i. NUCLEAR RAIL & TRANSIT MINE SITE DEVELOPMENT PUBLIC PRIVATE OIL & GAS STATIONS OVERBURDEN REMOVAL & PARTNERSHIPS (Pas) PIPELINES ADADS, BRIDGES, TUNNELS RECLAMATION PROJECT DEVELOPMENT
Slide 5: Highlights
2 HIGHLIGHTS SGG7M a2 2015 REVENUES §75.5M ADJUSTED EBITOA 4 AY EBITOA MARGIN 13% trom 02 2014 5% tromazzoe = 2.1% points from 02 2014 Significant awards across each segment: Energy Infrastructure Mining §702M IN NEW BACKLOG AND AECON CONSORTIUM SELECTED STIOM IN NEW MINING SB5M IN NEW RECURRING FOR
Slide 6: 2015 and TTM Results
2015 02 AND TIM RESULTS $ Millions Three months ended Six months ended TTM* June 30 June 30 June 30 2015 2014 2015 2014 2015 2014 Revenue 667.3 589.6 1,168.8 1,051.4 2,131.4 2,855.0 Gross Profit 57.9 44.0 94.8 76.9 289.0 265.5 Gross Margin % 8.7% 7.5% 8.1% 7.3% 10.6% 9.3% Adjusted EBITDA 29.9 13.9 3
Slide 7: Quito International Airport Sale Announced
QUITO INTERNATIONAL AIRPORT SALE ANNOUNCED A@CCON Sale of Aecon’s 45.5% interest in the Quito International Airport concessionaire for US$232.6 million announced on June 8", 2015 The monetization is expected to generate approximate net cash proceeds (after transaction costs and estimated cash taxes)
Slide 8: Eglinton Crosstown LRT Is a Milestone for Aecon
EGLINTON CROSSTOWN LAT 1S A MILESTONE FOR AECON Crosslinx Consortium awarded the Eglinton Crosstown Light Rail Transit project Crosslinx is comprised of Aecon, ACS, EllisDon, and SNC-Lavalin $5.3 BN in capital committed (construction costs) Each member is an equal 25% partner in the equity, developm
Slide 9: A Leader in Rapid Transit Infrastructure Solutions Across Canada
A LEADER IN RAPID TRANSIT INFRASTRUCTURE SOLUTIONS ACROSS CANADA WITH A ROBUST PIPELINE ANEAD UNION STATION TRAIN SHED REVITALIZATION AWARDED IN 2009 VALUE: $196M SPADINA SUBWAY & SHEPPARD WEST STATION AWARDED IN 2010 VALUE: $279M EXPRESS VALUE: $129M UNION PEARSON AWARDED IN 2011 oO EGLINTON CROSST
Slide 10: Robust Backlog Across All Market Segments
ROBUST BACKLOG ACROSS ALL MARKET SEGMENTS WILL BE TRANSFORMED BY ADDITION OF EGLINTON LAT IN 3 2015 TOTAL BACKLOG" (SMM) BACKLOG’ DURATION ($MM) TOTAL $2,690 = -4% =—$2,589 TOTAL $2,690 -4% = $2,589 “ ere 335 128 $937 ein? ae AMO $639 voit INFRASTRUCTURE 80.5% $1,295 $1,486 MINING $267 - ol $1,822 2
Slide 11: Flexibility in Switching Revenues Between Recurring and Backlog
FLEXIBILITY IN SWITCHING REVENUES BETWEEN RECURRING AND BACKLOG BASED ON STRONG CLIENT RELATIONSHIPS RECURRING REVENUE BY SEGMENT($MM)' TOTAL $700 -15% $595 Growth generated from existing customers. New Master Service Agreements (MSA) secured and announced during the second quarter will increase rec
Slide 12: Record Success Driving Strong Backlog, Visibility and Growth
RECORD SUCCESS RAI DRIVING STRONG BA IE ON REQUESTS FOR PROPOSAL CKLOG, VISIBILITY AND GROWTH SINCE 203, ECON ANARDEDSEVEN MAJOR > oy ppouecrsarren ne. 97 BN QUALIFICATION PROCESS AECON CURRENTLY IN supmission stage FoR $6 BNA FOUR RFP'S AECON WELL POSITIONED FOR RFQ'S IN PROGRESS OR . Penoing—ulsro
Slide 13: Quarterly and Year Over Year Margin Improvements
QUARTERLY AND YEAR OVER YEAR MARGIN IMPROVEMENTS DEMONSTRATES CONTINUED PROGRESS IN OUR STRATEGY GROSS MARGIN % TOTAL ENERGY INFRASTRUCTURE MINING TOTAL ENERGY INFRASTRUCTURE MINING A@CCON Q2 2014 7.5% 10.6% 5.2% 2.7% Q2 2014 TTM 9.3% 11.8% 5.4% 9.7% Q2 2015 8.7% 7.5% 8.4% 11.5% Q2 2015 T™M 10.6% 9.
Slide 14: Successful Transition Leading Canadian Turnkey Contractor
SUCCESSFUL TRANSITION 10 LEADING CANADIAN TURNKEY CONTRACTOR — KEY DRIVERS AECON PLATFORM BUILT ON FOUR KEY PILLARS. . PARTNERSHIPS ees. TURNKEY CAPABILITY & " Clients, engineers, contractors, First Nations, = % of work from large, multi-faceted projects is unions now 30% - 40% per annum = The sough
Slide 15: Active Project and Client Partnerships
ACTIVE PROJECT AND CLIENT PARTNERSHIPS ACTIVE JV PROJECTS — AECON SHARE CLIENT PARTNERSHIPS John Hart Power Station Port Mann Tunnel Capilano Tunnels Syncrude - Cogen Plant IPL Pipeline and Stations Anthony Henday Ring Road Regina Wastewater Treatment Plant Waterloo LRT Eglinton LRT Tunnel Darlingto
Slide 16: Energy Segment Q2 2015 TTM
Revenue – $1.3 BN New Contract Awards Recurring Revenue % Backlog Adj. EBITDA Margin – 4.3% $1,376 of Segment 30% $937 $1,133 $812 23% Q2 2015 46% TTM Q2 2014 Q2 2015 Q2 2014 Q2 2015 Q2 2014 Q2 2015 TTM TTM TTM TTM TTM TTM 16
Slide 17: Infrastructure Segment Q2 2015 TTM
Revenue – $0.9 BN New Contract Awards Recurring Revenue % Backlog Adj. EBITDA Margin – 4.1% $1,366 of Segment $1,486 11% $1,295 10% $724 Q2 2015 TTM 33% Q2 2014 Q2 2015 Q2 2014 Q2 2015 Q2 2014 Q2 2015 TTM TTM TTM TTM TTM TTM 17
Slide 18: Mining Segment Q2 2015 TTM
Revenue – $0.6 BN New Contract Awards Recurring Revenue % Backlog Adj. EBITDA Margin – 12.4% of Segment $801 21% $614 51% $482 Q2 2015 $267 TTM 22% Q2 2014 Q2 2015 Q2 2014 Q2 2015 Q2 2014 Q2 2015 TTM TTM TTM TTM TTM TTM 18
Slide 19: Ongoing Progress and Future Growth Supported by Strong Cash Flow and Balance Sheet
ONGOING PROGRESS AND FUTURE GROWTH SUPPORTED BY STRONG CASH FLOW AND BALANCE SHEET TIM Dec 2015 2014 Adjusted EBITDA 189.6 170.2 Cash Interest Expense (net) (28.9) (34.7) Capital Expenditures (net) (45.3) (50.8) Sale of subsidiary 25.7 0.0 Restructuring Costs (6.5) (9.0) Income Taxes (Paid)/Recovere
Slide 20: Dividend history per share
$0.40* $0.36 $0.32 $0.28 $0.20 $0.14 $0.00 2006 2007 2008-11 2012 2013 2014 2015 20
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