ATCO Energy Systems achieves major milestone on Yellowhead Pipeline Project with approval of key regulatory filing

Press Release

• Alberta Utilities Commission grants approval of the Need Assessment Application for Yellowhead Pipeline Project
• The project is expected to create 2,000 direct jobs and supports an average of 12,000 jobs annually through related downstream investments. Once operational, the downstream investments are estimated to contribute $3.9 billion* annually to Alberta’s GDP.
• Validates need for new infrastructure to support demand from Alberta’s growing industry and population

CALGARY, AB, Aug. 22, 2025 – Canadian Utilities Limited (TSX: CU)

ATCO Energy Systems today announced that the Alberta Utilities Commission (AUC) has approved the Need Assessment Application for the Yellowhead Pipeline Project, marking a major milestone in the development of Alberta’s energy infrastructure.

The Yellowhead Pipeline will strategically expand the capacity of Alberta’s highly integrated natural gas transmission system. Spanning just over 230 kilometres from the Peers area to Fort Saskatchewan, the pipeline will deliver more than 1,200 terajoules (1.1 billion cubic feet) of natural gas per day, underpinning economic and population growth within the province.

“This approval is a critical step forward in ensuring Alberta’s growing communities and industry have the reliable energy they need,” said Bob Myles, Chief Executive Officer, Canadian Utilities. “The AUC’s decision follows a rigorous review process, which acknowledged the project’s strong contractual support – 90 per cent of capacity is already committed – and its alignment with long-term demand forecasts. In anticipation of next steps, we will continue to consult with communities along the proposed route. We will also continue to pursue potential equity partnership arrangements with Indigenous partners.”

The Need Assessment Application is the first of two key regulatory filings that require approval from the Alberta Utilities Commission to advance the project.

ATCO Energy Systems will file a separate facilities application later this year to seek AUC approval for construction and operation of the physical infrastructure and expects construction to commence in 2026.

About Canadian Utilities
Canadian Utilities Limited and its subsidiary and affiliate companies have approximately 9,100 employees and assets of $24 billion. Canadian Utilities, an ATCO company, is a diversified global energy infrastructure corporation delivering essential services and innovative business solutions. ATCO Energy Systems delivers energy for an evolving world through its electricity and natural gas transmission and distribution, and international electricity operations segments. 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. More information can be found at www.canadianutilities.com.

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