Company Announcements

• $596M USD contract to ATCO Frontec'sARCTEC Alaska partnership for operation and maintenance services at 15 U.S. Air Force sites and facilities
• New 10-year contract builds on decades of continuous USAF agreements for ARCTEC since 1994
• ATCO Frontec is also a prime contractor on WEXMAC 2.1 for the U.S. Navy's TITUS initiative and trusted partner to FEMA, the National Guard and others

CALGARY, AB , Feb. 23, 2026 /CNW/ -ATCO Ltd.(TSX: ACO.X) 

ATCO today announced that ARCTEC Alaska, a joint venture between ATCO Frontec and ASRC Federal, has been awarded a 10-year contract valued at roughly $596M USD to provide operations and maintenance services for the Alaska Radar System (ARS). The United States Air Force (USAF) contract commences in September 2026.

Under the agreement, ARCTEC will operate and maintain 15 long-range radar sites across Alaska, two radio sites, and facilities at Joint Base Elmendorf-Richardson, the headquarters for the ARS. These responsibilities include comprehensive operational support, site services, facility maintenance and logistics.

"As a global support and facilities management company, we are uniquely positioned to support the U.S. Air Force in Alaska," said Jim Landon, President, ATCO Frontec. "Our expertise in some of the most remote and challenging environments is why the USAF has trusted in our abilities for decades, enabling them to maintain continuous surveillance of our skies and safe navigation for civil flights across North America."

"The Alaska Radar System is critical to maintaining our sovereign air space and we are proud to be entrusted with supporting the safety and security of our nation," said Jennifer Felix, president and CEO of ASRC Federal. "This follow-on contract demonstrates our ability to consistently deliver critical mission services in complex environments."

ATCO Frontec provides similar in-service support to defence and research organizations in remote regions worldwide. Its Nasittuq partnership operates and maintains the North Warning System, a chain of radar sites across Canada's Arctic that provides aerospace surveillance for NORAD. This experience underscores ATCO's capability to manage complex infrastructure in remote, cold-weather regions, supporting both Canadian and U.S. defence missions. ATCO Frontec USA also provided workforce lodging services for 1,300 construction workers at Naval Air Weapons StationChina Lake in Ridgecrest, California (2020-25), and operated the 1,500-person Tuscan Ridge Lodge in support of the Paradise, California wildfire clean-up (2018).

About ASRC Federal
ASRC Federal delivers solutions and services to more than 30 U.S. government agencies. We support our Nation's most critical missions – from space exploration to cyber defense to military base operations and public health. Our capabilities include IT modernization, software applications and analytics, engineering solutions, critical infrastructure and base operations, supply chain management and logistics and professional services. As a family of Alaska Native-owned companies, our work helps secure an enduring future for more than 14,000 Iñupiaq shareholders from Alaska's North Slope. For more information, please visit www.asrcfederal.com. 

About ATCO
As a global enterprise, ATCO Ltd. and its subsidiary and affiliate companies have approximately 21,000 employees and assets of $28 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 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
Contact Media Relations
587 228 4571

Forward-Looking Information
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. In particular, forward-looking information in this news release includes references to the expected value, term and scope of the operation and maintenance services contract.

While it is believed that the expectations reflected in the forward-looking information are reasonable based on the information available on the date such statements are being made, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct. Forward-looking information should not be unduly relied upon. By its nature, such information involves a variety of assumptions, known and unknown risks and uncertainties, and other factors, which may cause actual results to differ materially from those anticipated in such forward-looking information. The forward-looking information reflects beliefs and assumptions with respect to, among other things, continuing collaboration with business partners, the ability to meet current project schedules, the applicability and stability of legal and regulatory requirements, and other assumptions inherent in management's expectations in respect of the forward-looking information identified herein.

Actual results may differ materially from those anticipated in the forward-looking information as a result of, among other things: applicable laws, regulations and government policies; regulatory decisions; competitive factors; prevailing market and economic conditions; the availability and cost of labour, materials, services, and infrastructure; commodity price fluctuations; non-compliance, or breach of contract by contract counterparties; and other factors, many of which are beyond ATCO's control. Readers are cautioned that the foregoing list is not exhaustive. For additional information about the principal risks that ATCO faces, see "Business Risks and Risk Management" in ATCO Ltd.'sManagement's Discussion and Analysis for the year ended December 31, 2024.

Any forward-looking information contained in this news release represents expectations as of the date hereof, which are subject to change after such date. ATCO disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

U.S. Department of War Disclaimer
The Department of War [nor a respective Military Service or any other DOW Component] does not approve, endorse, or authorize this company, its products or services.

SOURCE ATCO Ltd.