On Target: 2024 Sustainability Report Shows ATCO’s Continued Progress in Environmental, Social, and Governance Performance

Press Release

CALGARY, AB, May 7, 2025 – ATCO Ltd. (TSX: ACO.X) (TSX: ACO.Y) Canadian Utilities Limited (TSX: CU)

Today, we released our 2024 Sustainability Report, demonstrating our ongoing commitment to sustainability and environmental, social, and governance (ESG) performance. The report provides an update on our strategic initiatives and progress in key areas such as resilience and safety, the energy transition, and Indigenous and community partnerships.

“We are proud of our continued progress in 2024, which is a direct reflection of the dedication and innovation of our team,” said Nancy Southern, Chair & Chief Executive Officer of ATCO Ltd. and Canadian Utilities Limited. “Companies that flourish over many decades are those that prioritize a long-term vision and look beyond the immediate horizon.  For our group of companies, sustainable practices, strong governance, and operational excellence are not just moral obligations but long-term strategic imperatives. In that respect, they are safeguards against the volatility of today’s business, political and economic environments.”

Highlights of ATCO’s 2024 sustainability performance include:

• Continued grid modernization through the replacement of traditional electricity meters, with 118,000 smart meters installed across Alberta to date.
• Investing in preventative measures to enhance system resilience, including fire-wrapping 77,000 electrical poles.
• Advancing hydrogen projects, including the launch of the Energy Discovery Centre, the first building in North America heated by 100% hydrogen.
• Reducing company-wide GHG emissions to earnings intensity by 13 per cent compared to 2023, a 40 per cent decrease compared to our 2020 baseline.
• Reducing customers’ GHG emissions by 1,387,000 tonnes of carbon dioxide equivalent cumulatively since 2020.
• Generating $123 million in net economic benefit to Indigenous groups, including awarding contracts totalling over $95 million to Indigenous and Indigenous-affiliated contractors.
• Investing $9.7 million in communities through gifts-in-kind, sponsorships, donations and our matching contribution to the employee-led ATCO EPIC Program, which raised $2.5 million in pledges.
• Recognized in 2025 as one of Canada’s Top Employers for Young People and Alberta’s Top Employers, for the fourth consecutive year.

Looking forward, we remain focused on our continued role in achieving an equitable and sustainable energy future. We will continue to work collaboratively with stakeholders and communities to foster innovation, environmental stewardship, and resilience in the face of global challenges.

Click here to see the full ATCO 2024 Sustainability Report.

About ATCO

As a global enterprise, ATCO Ltd. and its subsidiary and affiliate companies have approximately 21,000 employees and assets of $27 billion. ATCO is committed to future prosperity by working to meet the world’s essential energy, housing, security and transportation challenges. ATCO Structures designs, builds and delivers products to service the essential need for housing and shelter around the globe. ATCO Frontec provides operational support services to government, defence and commercial clients. ATCO Energy Systems delivers essential energy for an evolving world through its electricity and natural gas transmission and distribution, and international electricity operations. ATCO EnPower creates sustainable energy solutions in the areas of electricity generation, energy storage, industrial water and cleaner fuels. ATCO Australia develops, builds, owns and operates energy and infrastructure assets. ATCO Energy and Home Services provides retail electricity and natural gas services, home maintenance services and professional home advice that bring exceptional comfort, peace of mind and freedom to homeowners and customers. ATCO also has investments in ports and transportation logistics, the processing and marketing of ash, retail food services and commercial real estate. More information can be found at www.ATCO.com.

Investor Inquiries:
Colin Jackson
Senior Vice President, Financial Operations
Colin.Jackson@atco.com
403-808-2636

Media Inquiries:
Kurt Kadatz
Director, Corporate Communications
Media@atco.com
587-228-4571

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