Port of M o ntreal inf ras tr uctu re inve s t m ent plan

The Por t of Montreal’s new five year investment planwill consist of a $335 million budget for its infrastructure on the Island of Montreal.

These investments are deemed necessar y to consolidate the Por t of Montreal’s status as a trading platform at the hear t of the strategic St Lawrence corridor and suppor t the energy transition The investment announcement was made recently by Mar tin Imbleau, President and Chief Executive Officer of the Montreal Por t Authority (MPA) during a speech at the Transpor t and Logistics Forum organized by the Chambre de commerce de l’Est de Montréal (CCEM)

Mar tin Imbleau outlined the Por t of Montreal’s role and scope in the city’s east end from a long-term perspective Now that the Por t of Montreal is approaching its full container handling capacity, it wants to invest heavily in its infrastructure on the island

The investment is geared to achieve four main ongoing objectives:

• To sustainably develop and maintain por t infrastructure to accommodate trade growth for the benefit of expor ting and impor ting companies

• To continue to strengthen the Greater Montreal supply chain where the countr y ’ s supply chains have been weakened over the past two years by factors such as the labour shor tage, inflation, and issues with procurement and storage

• To accelerate the decarbonization of por t activities and the energy transition To this end, the MPA has already implemented major initiatives, including the installation of shore power for wintering ships and cruise ships and the electrification of its fleet of ser vice vehicles Future plans include larger-scale rollouts of electric power systems and developing green fuels

• To improve the city-por t inter face by creating a landscaped embankment on Notre Dame to minimize any visual and noise impacts of por t activities and planting 2,000 trees The Por t of Montreal aims to invest $10 million in this

Key projects planned for the next five years in Montreal include: optimizing substations, which will make it possible for the Por t to meet the growing demand for electrical energy; optimizing rail capacity by adding more tracks, which will improve the fluidity of rail traffic and storage; and whar f modernization to safely accommodate vessels www por t-montreal com

Fug ro expan ds g eote chn ical fleet w ith pu rcha se of two ve ssels

Fugro has reached agreement to acquire two platform supply vessels, Topaz Endurance and Topaz Energy, both built in 2015, which will be repurposed to geotechnical vessels The of fshore renewable energy market continues to grow rapidly, leading to high demand for Fugro’s ser vices and strong backlog growth For Fugro’s market leading position, geotechnical vessels are key strategic assets For the foreseeable future, marine geotechnical ser vices will not be executed with uncrewed platforms. Fugro maintains its uncrewed vessel strategy and net zero emissions roadmap.

Securing long-term capacity is critical in order to capture the growth, in par ticular in the global offshore wind market Char ter rates have been increasing and the vessel market is expected to remain tight With the purchase of these strategic assets Fugro will maintain a balanced vessel por tfolio while keeping flexibility towards the future

The purchase of these core strategic assets also suppor ts Fugro’s net zero 2035 roadmap, as the vessels are significantly more energy efficient than Fugro’s current fleet and offer options for hybrid conversions and/or alternative marine fuels in the future Fugro continues to invest in remote and digital solutions and will fur ther grow its fleet of uncrewed sur face vessels as par t of its net zero 2035 roadmap www fugro com