ATCO LTD. REPORTS A CHANGE IN PERCENTAGE OF OWNERSHIP OF CANADIAN UTILITIES LIMITED CLASS B COMMON SHARES

CALGARY, AB, May 20, 2022 /CNW/ - ATCO Ltd. (TSX: ACO.X, ACO.Y)

ATCO Ltd. ("ATCO") advises today that the percentage of outstanding Class B common shares of Canadian Utilities Limited held by ATCO has increased by 2.06% since December 19, 2019, to 92.21%. The percentage increase was caused by third parties converting Class B common shares of Canadian Utilities Limited into Class A non-voting shares and was not the result of any action taken by ATCO or Canadian Utilities Limited. The Class B common shares are convertible into Class A non-voting shares on a one-for-one basis at the option of the holders.

Additional information regarding this change in ownership percentage by ATCO is contained in the early warning report filed on SEDAR under Canadian Utilities Limited's profile.

With approximately 6,400 employees and assets of $23 billion, ATCO is a diversified global corporation with investments in the essential services of Structures & Logistics (workforce and residential housing, innovative modular facilities, construction, site support services, workforce lodging services, facility operations and maintenance, defence operations services, and disaster and emergency management services); Utilities (electricity and natural gas transmission and distribution, and international electricity operations); Energy Infrastructure (electricity generation, energy storage and industrial water solutions); Retail Energy (electricity and natural gas retail sales); Transportation (ports and transportation logistics); and Commercial Real Estate. More information can be found at www.ATCO.com.

For Investor & Analyst Inquiries or a copy of the related early warning report:
Colin Jackson
Senior Vice President
Finance, Treasury, Risk & Sustainability
[e-mail]
403 808 2636

Media Inquiries:
Kurt Kadatz
Director, Corporate Communications
[e-mail]
587 228 4571

SOURCE ATCO Ltd.

Copyright 2022 Canada NewsWire