Aecon : George Gordon Developments and Aecon form new Indigenous-led partnership to deliver the Wet Mill Area for BHP’s Jansen Potash project in Saskatchewan

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George Gordon Developments and Aecon form new Indigenous-led partnership to deliver the Wet Mill Area for BHP's Jansen Potash project in Saskatchewan

Jun 5, 2024

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Toronto, Ontario- May 30, 2024: George Gordon Developments Ltd. ("GGDL"), an Indigenous-owned and operated business, and Aecon Group Inc. ("Aecon") are pleased to announce the formation of the Wicehtowak Aecon Industrial Limited Partnership ("Wicehtowak Aecon LP") to provide an Indigenous-led solution to deliver the Wet Mill Area for Stage 1 of BHP Canada's Jansen Potash project about 140 km east of Saskatoon, Saskatchewan. The work on the Wet Mill Area will include, Structural, Mechanical, Piping, Electrical and Instrumentation.

GGDL, who holds a majority interest in the partnership, is dedicated to creating sustainable economic growth for the prosperity of Indigenous communities and is owned by the George Gordon First Nation - located in the heart of Treaty 4 Territory.GGDL was established to create a revenue stream, develop business partnerships, and provide employment for the George Gordon FirstNation.

"Partnerships are about mutual vision and mutual determination to provide opportunity and mutual desire to build on success", said Don Ross, CEO, GGDL. "George Gordon Developments Ltd. believes in our partnership with Aecon, knowing that together we will create economic sustainability for our Nation and fulfill much-needed services to our client BHP."

"This partnership integrates decades of experience and shared values of working collaboratively with Indigenous communities to build critical infrastructure that provides sustainable economic benefits," said John Singleton, Senior Vice President, Aecon Industrial."We are proud to be working with GGDL and George Gordon First Nation to provide an Indigenous-led solution to deliver this significant project for our valued client BHP Canada."

"With the Jansen Potash project, BHP is building what will be one the world's largest potash mines. Stage 1 of the project alone is expected to contribute $1.8 billion of direct and indirect contributions to the local GDP in Saskatchewan - much of this through procurement opportunities. Jansen is located on Treaty 4 Territory, and it is central to BHP that we are creating mutual benefits in the communities where we operate. This partnership between GGDL and Aecon is an excellent example of this commitment in practice. Congratulations to both GGDL and Aecon," said Karina Gistelinck, Potash Asset President, BHP.

Wicehtowak Aecon LP's scope of work under a $222 million contract includes the installation of pre-assembled units (PAUs) for the construction of the wet mill, tailings, and reagents buildings. The PAUs are being assembled at Aecon's fabrication facility in Sherwood Park, Alberta through a previously awarded $129 million contract awarded to Wicehtowak Aecon LP. Construction completion is anticipated in the fourth quarter of 2025. Jansen Stage 1 isexpected to produce approximately 4.35 million tonnes of potash annually, with first production planned for late 2026.

Aecon continues to advance reconciliation and co-create opportunities that provide sustainable and beneficial relationships aligned with the priorities and objectives of Indigenous Peoples, as outlined in itsReconciliation Action Plan. Aecon is proud to hold Silver Certification in Progressive Aboriginal Relations from the Canadian Council for Aboriginal Business.

Further information about the project is available on BHP Canada'swebsite.

About George Gordon Developments Ltd.

George Gordon Developments Ltd. (GGDL) is the business entity of the George Gordon First Nation, located in the heart of Treaty 4 Territory. GGDL was established to create a revenue stream, develop business partnerships and provide employment for our Nation. GGDL is involved in crucial sectors on a national scale: Potash, Renewable Energy and Property Management-Development. GGDL is proud to represent our Nation. We have made significant strides in all areas of the potash sector, determined to not only maintain momentum, but to continue to build on our success. Our goal is to sustain our community, encourage social responsibility, and maintain integrity in our principles as we nurture our partnerships, build on our success, and continue to advance our Nation.

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.

Statement on Forward-Looking Information

The information in this press release 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 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, as discussed in greater detail in Section 13 - "Risk Factors" in the Interim Management's Discussion and Analysis (MD&A) filed on April 24, 2024 and the 2023 Annual MD&A filed on March 5, 2024, available through SEDAR+ (www.sedarplus.ca). 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, except as required by applicable law.

For further information:

Adam Borgatti
SVP, Corporate Development and Investor Relations, Aecon
416-297-2600
[e-mail]

Nicole Court
Vice President, Corporate Affairs, Aecon
416-297-2600
[e-mail]

Josh Montana
Vice President, Stewardship and Relations, GGDL
306-949-4230
[e-mail]