Ernest Edward Poole was born on October 18, 1883 in Woodville Mills, Prince Edward Island to John T. Poole and Jean (Shaw) Poole. Educated in Prince Edward Island, he attended business college in Charlottetown and studied architecture and reinforced concrete engineering. Poole worked in his father's saw, flour and carding mills prior to moving to Melita, Manitoba in 1903 for carpentry work. In 1904, he worked as a carpenter and hardware store operator in Stoughton, North-West Territories (later known as Saskatchewan).

In 1906, Poole and a partner, James Martin, established a construction firm in Stoughton under the name Martin and Poole. After Martin's retirement in 1907, Poole continued the business under the name E.E. Poole General Contractor. The company's projects extended throughout Saskatchewan and into Manitoba and typically included schools, banks, town halls and rinks. In 1910, Poole moved his business headquarters first to Rouleau, then to Moose Jaw (1913) and Regina (1914). Poole Construction Company Ltd. was incorporated in Saskatchewan in 1913. Poole married Gertrude Inez Annear that same year; they went on to have four children: John, Ruth, George and Inez.

In 1921, Poole Construction Company Ltd. secured its first major contract with the construction of the Weyburn Mental Hospital in Weyburn. In 1922, the company opened an office in Edmonton, Alberta. In 1932, the company's headquarters and the Ernest Poole family moved to Edmonton. After selling the company to his sons in 1948, Poole continued to serve the company as president and later chairman until his death on March 12, 1964.

Poole was an Associate Member of the Engineering Institute of Canada; member of various organizations in Regina, including the Rotary Club, Assiniboia Club, Wascana Country Club and Canadian Club; and a member of the Alberta Provincial Council of the Boy Scouts of Canada. Poole travelled extensively and collected art, antique silver and firearms. In 1961, Poole and his wife established the Poole Foundation. Later known as the Ernest E. Poole Foundation, the organization managed and dispersed of the Pooles' large art collection until its dissolution in 1985.