Arctic Gateway Group And Aecon Sign Collaboration Agreement To Support Port Of Churchill Infrastructure Advancement In Manitoba

(MENAFN- GlobeNewsWire - Nasdaq) Both organizations to focus on creating good jobs and lasting opportunities for Indigenous and northern communities

TORONTO, June 04, 2026 (GLOBE NEWSWIRE) -- Aecon Group Inc. (TSX: ARE) (“Aecon”) and Arctic Gateway Group (“AGG”), an Indigenous and community-owned business, announced today that they have signed a Memorandum of Understanding (“MOU”), establishing a collaboration framework to explore strengthening Canada's northern trade corridor and Arctic sovereignty through infrastructure advancement related to the Port of Churchill in Manitoba.

Under the MOU, Aecon and AGG will collaborate to pursue and develop project opportunities in connection with the development of the Port of Churchill and Hudson Bay Railway – leveraging Aecon's diverse construction and infrastructure development expertise and AGG's established Indigenous and economic development leadership in northern Canada. This work will be undertaken with a strong focus on ensuring that all development of the Port of Churchill and Hudson Bay Railway maximizes jobs, training and opportunities for Indigenous and northern people, as well as Indigenous and northern businesses. This focus aligns with Aecon's broader approach to reconciliation and supports Indigenous participation in infrastructure development through Indigenous and community ownership, as well as AGG's mandate as an Indigenous and community owned company.

“Aecon is proud to partner with Arctic Gateway Group through this collaboration agreement – bringing Aecon's multidisciplinary expertise to explore infrastructure solutions that support Indigenous-led development, economic reconciliation, trade diversification, access to new markets and Arctic security,” said Jean-Louis Servranckx, President and Chief Executive Officer, Aecon Group Inc.

“The continued development of this project is a nation-building opportunity to transform the Port of Churchill as Canada's Arctic and Northern gateway, while delivering lasting national and local benefits for generations to come,” said Tim Murphy, Executive Vice President and Chief Strategic Affairs Officer, Aecon Group Inc.

“This partnership with Aecon will help supercharge Arctic Gateway's infrastructure planning, with proven expertise and advice from a major North American construction company,” said Chris Avery, President & CEO, Arctic Gateway Group.“As AGG works to further modernize the Port of Churchill, with planning for new terminals and year-round operations, as well as building up the Hudson Bay Railway to modern industrial weight standards that seamlessly intertie with Canada's class 1 rail network, Aecon will be a trusted partner. Working together, we can ensure that all development of AGG's infrastructure assets creates good jobs and opportunities for Indigenous and northern people, with lasting community benefits.”

The Port of Churchill is Canada's only deep-water northern seaport with direct access to the Atlantic Ocean and a connection to the continental rail network through the Hudson Bay Railway. The port and railway are operated by AGG, whose ownership group is comprised of 29 First Nations and 12 remote northern Manitoba communities.

Further information about the Port of Churchill project is available on the AGG website and the Government of Canada's Major Projects Office website.

Further information about Aecon's Reconciliation Action Plan is available on the Aecon website.

About Arctic Gateway Group

Arctic Gateway Group is a proudly Indigenous and community owned Manitoba company that owns and operates the Port of Churchill, Canada's only northern seaport serviced by rail, as well as the Hudson Bay Railway, operating from The Pas to Churchill. Together this northern infrastructure forms the nexus of Canada's Arctic Trade Corridor, providing a reliable and efficient route for Western Canadian resources to access world markets.

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
416-297-2600
...

Nicole Court
Vice President, Corporate Affairs & Communications
416-297-2600
...

Brad Hartle
Chadwick Consulting
204-266-8297
...

Statement on Forward-Looking Information

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 risks and uncertainties. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, strategies and outlook for Aecon, including statements regarding the potential opportunities to advance reconciliation efforts, the anticipated project opportunities from the collaboration; and the anticipated benefits this project will have on the economy and communities. Forward-looking statements may in some cases be identified by words such as“may,”“will,”“expects,”“target,”“future,”“plans,”“believes,”“anticipates,”“estimates,”“projects,”“intends,”“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 meet contractual schedules and other performance requirements, the risks associated with a third party's failure to perform; the risk of not being able to meet its labour needs at reasonable costs; the risk of not being able to address any supply chain issues which may arise; the risk of the anticipated benefits from the project not being fully realized; and the risk of Aecon not being selected or able to pursue projects as anticipated through this MOU. 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. These assumptions are based on information currently available to Aecon, including information obtained from third-party sources. While Aecon believes that such third-party sources are reliable sources of information, Aecon has not independently verified the information. Aecon 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.

Risk factors are discussed in greater detail in Section 13 –“Risk Factors” in Aecon's 2025 Management's Discussion and Analysis for the fiscal year ended December 31, 2025, and in Aecon's Management's Discussion and Analysis for the fiscal quarter ended March 31, 2026, filed on SEDAR+ ( ). 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.

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