AtkinsRéalis Announces Private Offering of $700 Million of Unsecured Debentures and its Intention to Redeem $300 Million Series 7 Debentures and $400 Million Series 8 Debentures

MONTREAL, March 24, 2026 /CNW/ - AtkinsRéalis Group Inc. (TSX: ATRL), a world-class engineering services and nuclear company with offices around the world, announced today that it has priced an offering of $400 million aggregate principal amount of 4.411% Series 9 unsecured debentures due June 15, 2031 (the "Series 9 Debentures") and $300 million aggregate principal amount of 4.756% Series 10 unsecured debentures due March 15, 2033 (the "Series 10 Debentures", and together with the Series 9 Debentures, the "Debentures").

Offering of Debentures

The Debentures are being offered through a syndicate of agents led by BMO Capital Markets, CIBC Capital Markets and National Bank Capital Markets, as joint bookrunners, and which also includes BNP Paribas (Canada) Securities Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., Desjardins Securities Inc. and BofA Securities. The Series 9 Debentures will be issued at a price of $999.87 per $1,000 principal amount of Series 9 Debentures and the Series 10 Debentures will be issued at par, and closing is expected to occur on or about April 6, 2026, subject to customary closing conditions. AtkinsRéalis intends to use the net proceeds of the offering for the redemption of the $300 million principal amount of outstanding Series 7 debentures due June 12, 2026 (the "Series 7 Debentures") and the $400 million principal amount of outstanding Series 8 debentures due March 26, 2029 (the "Series 8 Debentures"), and for general corporate purposes, if applicable.

The Series 9 Debentures will bear interest at a fixed annual rate of 4.411%, payable in equal semi-annual instalments, in arrears, on June 15 and December 15 of each year until maturity, commencing on December 15, 2026. The Series 10 Debentures will bear interest at a fixed annual rate of 4.756%, payable in equal semi-annual instalments, in arrears, on March 15 and September 15 of each year until maturity, commencing on September 15, 2026.

The Debentures will be direct unsecured obligations of AtkinsRéalis, will rank pari passu with all other unsecured and unsubordinated indebtedness of AtkinsRéalis (including all of its other existing debentures as well as indebtedness under its existing main credit agreement) and will be guaranteed by the same subsidiaries that guarantee AtkinsRéalis' obligations under its existing main credit agreement and its other outstanding debentures.

On March 20, 2026, DBRS Limited ("Morningstar DBRS") upgraded the credit rating of AtkinsRéalis to BBB from BBB (low) and changed the trend on AtkinsRéalis to stable from positive. The Debentures have been assigned a provisional rating of BBB with a stable trend by Morningstar DBRS and BBB- by Standard & Poor's.

The Debentures have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer and sale of the Debentures in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. No securities regulatory authority has either approved or disapproved of the contents of this press release. The Debentures have not been and will not be registered under the United States Securities Act of 1933, as amended (the U.S. Securities Act), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration under, or an applicable exemption from the registration requirements of, the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer to sell or a solicitation of an offer to buy the Debentures in any jurisdiction where it is unlawful to do so.

Redemption of Series 7 Debentures and Series 8 Debentures

AtkinsRéalis also announced that it has issued notices of redemption in respect of the $300 million principal amount of outstanding Series 7 Debentures and the $400 million principal amount of outstanding Series 8 Debentures, for redemption in each case on April 7, 2026 (the "Redemption Date") in accordance with the respective trust indentures governing the Series 7 Debentures and Series 8 Debentures; provided that, on or before the Redemption Date, the offering of the Debentures described in this news release is completed. The Series 7 Debentures will be redeemed for cash on the Redemption Date for a redemption payment amount of $1,006.55 per $1,000 principal amount of Series 7 Debentures in addition to accrued but unpaid interest to, but excluding, the Redemption Date. The Series 8 Debentures will be redeemed for cash on the Redemption Date for a redemption payment amount of $1,028.50 per $1,000 principal amount of Series 8 Debentures in addition to accrued but unpaid interest to, but excluding, the Redemption Date.

About AtkinsRéalis

Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services, Nuclear and Capital. News and information are available at www.atkinsrealis.com or follow us on LinkedIn.

Forward-Looking Statements

References in this press release, and hereafter, to the "Company", "AtkinsRéalis", "we", "us" and "our" mean, as the context may require, AtkinsRéalis Group Inc. and all or some of its subsidiaries or joint arrangements or associates, or AtkinsRéalis Group Inc. or one or more of its subsidiaries or joint arrangements or associates.

Statements made in this press release, including, but not limited to, statements relating to the offering of the Debentures, or any other future events or developments and other statements that are not historical facts, constitute "forward-looking statements" which can be identified by the use of the conditional or forward-looking terminology such as  "aims", "anticipates", "assumes", "believes", "cost savings", "estimates", "expects", "forecasts", "goal", "intends", "likely", "may", "objective", "outlook", "plans", "projects", "should", "synergies", "target", "vision", "will", or the negative thereof or other variations thereon. 

Specific forward-looking statements in this press release, include, but are not limited to, statements with respect to the offering of the Debentures and the intended timing and use of proceeds thereof, with respect to the credit ratings assigned to the Debentures, and with respect to the redemption of the Series 7 and Series 8 Debentures. All such forward-looking statements are made pursuant to the "safe-harbour" provisions of applicable Canadian securities laws. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions and/or results could differ materially from those expressed or implied in such forward-looking statements, or could affect the extent to which a particular projection materializes. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.

Forward-looking statements made in this press release are based on a number of assumptions believed by the Company to be reasonable as at the date of this press release. The assumptions are set out throughout the Company's 2025 annual management's discussion and analysis ("2025 MD&A") (particularly in the sections entitled "Critical Accounting Judgments and Key Sources of Estimation Uncertainty" and "How We Analyze and Report our Results") filed with the securities regulatory authorities in Canada, available on SEDAR+ at www.sedarplus.ca and on the Company's website at www.atkinsrealis.com under the "Investors" section. If these assumptions are inaccurate, the Company's actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important risk factors could cause the Company's assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. Those risks are identified in the 2025 MD&A (particularly in the section entitled "Risks and Uncertainties") and are not exhaustive.

The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any written or oral forward-looking information or statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.

SOURCE AtkinsRéalis

For More Information: Media: Antoine Calendrier, Vice President, Global External Communications, [email protected]; Investors: Denis Jasmin, Vice President, Investor Relations, 514-393-8000 ext. 57553, [email protected]