Aecon Collective Agreement

Both Aecon and the union agreed that the terms of the agreement will be incorporated into the collective agreements in force between each employer and Local 793 and that the content of the agreement would not be used to create or extend Local 793`s bargaining rights with Aecon subsidiaries or subsidiaries or between employers. The agreement also stipulates that Aecon recognizes the interests of Local 793`s job security and that the Aecon union will continue to provide qualified business engineers. The company and the union agreed to “work together to ensure that the federal government`s timely foreign worker program and intra-company transfer program after acquisition are not used in a manner inconsistent with the union security provisions of the collective agreements to which each employer is bound, or that the level of job security of the 793 local members is otherwise reduced.” Gallagher met with Aecon President and CEO John Beck on November 13 and signed an agreement that confirmed that collective agreements will be respected and that the sale will not alter the relationship between the union and the company. Gallagher was concerned about issues such as job security for 793 local members and the hiring of Aboriginal and northern peoples for projects in their communities. He sought assurances that Local 793`s bargaining rights would not be affected and an obligation to ensure that foreign worker engagement programs were not used if the sale was authorized. It is important to note that the Local 793 agreement does not prevent legal action or succession of employers against Aecon. The company will continue to be headquartered in Canada. On November 6, he met in Ottawa with a senior industry advisor. The meeting with the head of Aecon Beck on 13 November was agreed to put the union`s concerns on the table. Beck signed a similar agreement with IUOE Canadian Director Lionel Railton on the same day.

A number of regulatory approvals must be followed before the transaction is completed. The offer requires government and regulatory approvals under the Investment Canada Act. At Aecon, we build the future and our employees are at the centre of our actions. We are always looking for outstanding candidates to work on our exciting and ever-growing project portfolios, and we hire the best and brightest in the company. We offer unique opportunities to grow with our Aecon team and develop a long-term career, and we do all this in a culture that protects our people, our partners and our planet. Aecon also reaffirmed its fundamental commitment to a culture of safety and continued its historic adoption of Ontario-specific health and safety laws and regulations, including those relating to training and licensing requirements. The Company also confirmed that its current treatment and practices with respect to Local 793`s trading rights will not be affected by the acquisition.