Aecon Clac Agreement

Adam Borgatti SVP, Corporate Development and Investor Relations (416) 297-2610 aborgatti@aecon.com Aecon Construction Solutions Inc. – 2-year renewed contract for various Alberta trades Hancor Painting and Decorating Ltd. – 2 years renewed contract for different Strathcona Mechanical Limited trades – 2-year renewed contract for plumbers in southern Alberta The Memorandum of Understanding also states that Aecon recognizes Local 793`s job security interests and that Aecon will continue to provide qualified corporate engineers. The company and the union agreed to „cooperate to ensure that the federal government`s foreign worker program and intra-company transfer program will not be used after acquisition in a manner contrary to the union safety provisions of collective agreements to which each employer is bound or that otherwise reduce the level of job security of Local 793 members.“ Both Aecon and the union have agreed that the terms of the MOU will be included in the collective agreements in effect between each employer and Local 793 and that the content of the MOU will not be used to create or extend Local 793`s bargaining rights with Aecon`s related companies or subsidiaries or between employers. Westward Industrial Inc. – 2.5 years agreement for electricians in Alberta Peter Kiewit Sons ULC – complete the current agreement on other trades in Alberta Gallagher met in November John Beck, President and CEO of Aecon. 13 and signed a memorandum of understanding confirming that collective agreements are respected and that the sale will not change the relationship between the union and the company. Aecon stock, valued at $420 million, was added to the backlog in the fourth quarter of 2019 Meanwhile, Aecon has agreed that Local 793 will remain informed of important decisions regarding future growth after the acquisition, to enable the parties to promote positive results while avoiding the potential for future conflicts. The company also confirmed that the acquisition would not interfere with its current treatment and practice with respect to Local 793`s trading rights. On 6 He met with a Senior Policy Advisor from Industry Canada in Ottawa on 1 November. The November 13 meeting with Aecon CEO Beck was organized to bring the union`s concerns to the table. Beck also signed a similar memorandum of understanding with IUOE Canadian Director Lionel Railton on the same day. Aecon also confirmed its core commitment to a safety culture first and the continuation of its historic acceptance of Ontario`s health and safety laws and regulations, including those related to training and licensing requirements.

793`s local general manager, Mike Gallagher of Aecon Group Inc., assured that the company`s practices regarding the union`s bargaining rights will not be affected by the imminent acquisition of CCCC International (CCCCI) Holding Ltd. from China. A number of administrative authorizations must be respected before the acquisition. The offer requires government and regulatory approvals under the Investment Canada Act. The Memorandum of Understanding with Local 793 contains nine specific commitments from Aecon and the union. „We have a long-standing and successful relationship with Aecon and I wanted to make sure it continues in the future. I am pleased to inform you that this Memorandum of Understanding has been signed, as it confirms our commitment to continue cooperation. Gallagher was concerned about issues such as job security for local 793 members and hiring Indigenous and northern peoples for projects in their communities. He wanted assurances that Local 793`s bargaining rights would not be affected and an obligation to ensure that foreign worker involvement programs were not used if the sale was authorized….

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