/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, March 27, 2026 /CNW/ - Aecon Group Inc. (TSX: ARE) ("Aecon" or the "Company") is pleased to announce the closing of an offering announced on March 11, 2026, consisting of 4,395,300 common shares (the "Shares"), including 573,300 Shares pursuant to the exercise of the over-allotment option granted to the Underwriters (as defined below). The Shares were offered at a price of $39.25 per Share (the "Offering Price"), for gross proceeds to the Company of $172,515,525 (the "Offering").

The Offering was made through a syndicate of underwriters led by CIBC Capital Markets and TD Securities Inc. (the "Underwriters") and made on a bought deal basis pursuant to a final short form prospectus (the "Prospectus") dated March 24, 2026. The Prospectus has been filed with the Canadian securities regulators in each of the provinces of Canada and is available under the Company's System for Electronic Data Analysis and Retrieval + ("SEDAR+") profile at www.sedarplus.com.

Aecon intends to use the net proceeds from the Offering to(EQNX::nobreakspace)repay amounts drawn under its revolving credit facility, and to the extent there are any excess net proceeds, for general corporate purposes.

About Aecon

Aecon Group Inc. (TSX: ARE) 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.

For further information:

Adam Borgatti
SVP, Corporate Development and Investor Relations(EQNX::nobreakspace)
416-297-2600
ir@aecon.com(EQNX::nobreakspace)

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

Statement on Forward-Looking Information

Statements contained in this press release regarding Aecon's intended use of the net proceeds of the Offering are "forward(EQNX::endash)looking information" within the meaning of applicable Canadian securities laws. This intended use of the net proceeds is based on Aecon's objectives, strategies, expectations and assumptions as of the date of this press release. Aecon may apply some or all of the net proceeds differently than as described in this press release if Aecon's objectives or strategies change, or its underlying expectations or assumptions prove incorrect or as a result of risks, uncertainties or other factors. Aecon is under no obligation to update or alter any statements containing forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable Canadian securities laws.

SOURCE Aecon Group Inc.

View original content: http://www.newswire.ca/en/releases/archive/March2026/27/c5771.html