ATCO Ltd. Announces Hybrid Note Issue

Press Release

CALGARY, Alberta, Oct. 29, 2018 — ATCO Ltd. (the “Corporation”) announced today that it has priced an underwritten offering of $200 million of 5.5 per cent fixed-to-floating rate subordinated notes due November 2078.  Proceeds from the issue will be used to reduce existing indebtedness under the Corporation’s credit facilities, which indebtedness was primarily incurred to fund the Corporation’s recently announced acquisition of a 40 per cent interest in Neltume Ports S.A., a leading port operator and developer in South America, and for other general corporate purposes.

This issue was underwritten by RBC Dominion Securities Inc., TD Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., CIBC World Markets Inc. and MUFG Securities (Canada), Ltd.

With approximately 7,000 employees and assets of $23 billion, ATCO is a diversified global holding corporation with investments in Structures & Logistics (workforce housing, innovative modular facilities, construction, site support services, and logistics and operations management); Energy Infrastructure (electricity generation, transmission, and distribution; natural gas transmission, distribution and infrastructure development; energy storage and industrial water solutions; and electricity and natural gas retail sales); Transportation (ports and transportation logistics); and Commercial Real Estate. More information can be found at www.ATCO.com.

Media & Investor Inquiries:

D.A. (Dennis) DeChamplain
Senior Vice President &
Chief Financial Officer
403-292-7502

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