Slide 1: Q1 Conference Call Presentation
Q1 CONFERENCE CALL PRESENTATION May 14, 2026
Slide 2: Forward-Looking Statements, Forward-Looking Financial Information and Outlook
2 Forward-Looking Statements, Forward-Looking Financial Information and Outlook References in this presentation 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
Slide 3: First Quarter Highlights
3 First Quarter Highlights ▪ Significant organic revenue growth ▪ Strong increase in Adjusted EBITDA 17.8% 12.8% Revenue growth (YoY) Organic revenue growth1 (YoY) ▪ Strong increase in Diluted EPS and Adjusted diluted EPS ▪ Backlog remains strong $245M $254M (12% increase YoY) (18% increase YoY) ▪ R
Slide 4: Engineering Services Regions
4 Engineering Services Regions 5.0% 14.2% Organic revenue (vs 14.8% Q1 2025) growth1 (YoY) Segment Adjusted EBITDA margin2 Revenue3 ($M) Backlog3 ($M) +12% +3% 1,945 12,716 13,151 1,737 Q1 2025 Q1 2026 31-Mar-25 31-Mar-26 1Organic revenue growth is a non-IFRS ratio. Please refer to endnote 1 on slid
Slide 5: Canada
5 Canada Revenue ($M) +15% 15.9% 326 376 Organic revenue growth1 (YoY) Transportation Buildings & Power & Places Renewables 13.1% (vs. 10.9% Q1 2025) Q1 2025 Q1 2026 Backlog ($M) Segment Adjusted EBITDA margin2 Industrial Defence Water -3% 7,955 7,726 Q1 Key Highlights ▪ Strong demand and continued
Slide 6: UKI
6 UKI Revenue ($M) +13% 9.7% 661 746 Organic revenue growth1 (YoY) Transportation Defence Buildings & Places 17.9% (vs. 16.8% Q1 2025) Q1 2025 Q1 2026 Backlog ($M) Segment Adjusted EBITDA margin2 Water Power & +10% Renewables 1,832 2,013 Q1 Key Highlights ▪ Overall market conditions remain resilient
Slide 7: USLA
7 USLA Revenue ($M) +22% (0.1)% 529 Organic revenue 432 contraction1 (YoY) Transportation Buildings & Industrial Places 11.3% (vs. 14.4% Q1 2025) Q1 2025 Q1 2026 Backlog ($M) Segment Adjusted EBITDA margin2 Water Minerals & +17% Metals 1,965 1,674 Q1 Key Highlights ▪ Strong work-winning performance
Slide 8: AMEA
8 AMEA Revenue ($M) (8.9)% 318 -8% 294 Organic revenue contraction1 (YoY) Transportation Buildings & Industrial Places 10.1% (vs. 14.0% Q1 2025) Q1 2025 Q1 2026 Backlog ($M) Segment Adjusted EBITDA margin2 Power & Defence +15% Renewables 1,447 1,254 Q1 Key Highlights ▪ The ongoing Middle East confli
Slide 9: Nuclear
9 Nuclear 36.5% 11.1% 27.1% Organic revenue (vs 11.6% Q1 2025) (vs 26.8% Q1 2025) growth1 (YoY) Segment Adjusted Segment Adjusted EBIT margin2 EBITDA margin3 Revenue ($M) Backlog ($M) +37% -15% 737 5,248 4,462 538 Q1 2025 Q1 2026 31-Mar-25 31-Mar-26 1Organic revenue growth is a non-IFRS ratio. Pleas
Slide 10: Nuclear Q1 Key Highlights
10 Nuclear Q1 Key Highlights CANDU® ▪ Progressing on Canadian and international refurbishment projects and Cernavoda new build ▪ Advancing the licensing process for CANDU in the U.S. ▪ MOU with Türkiye Nuclear Energy Company to explore the deployment of CANDU in support of Türkiye’s planned nuclear
Slide 11: CANDU Delivers Revenue Today and into the Future
11 CANDU Delivers Revenue Today and into the Future Total $0.9B $1.9B $3.2B $5.0B $4.5B Dec. 31 Dec. 31 Dec.31 Dec. 31 Mar. 31 Bright Future Nuclear Backlog 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Darlington 1 to 4 Life Extension Bruce 3 to 8 Projects Pickering 5 to 8 Phase 1 Pha
Slide 12: Financial Performance
12 FINANCIAL PERFORMANCE
Slide 13: Q1 Selected Financial Metrics
13 Q1 Selected Financial Metrics in $M, except otherwise indicated Q1 2026 Q1 2025 Change Revenue Revenue Engineering Services Regions1 1,944.6 1,736.8 12% Nuclear 736.6 538.3 37% All other segments 316.7 270.6 17% Total Revenue 2,997.8 2,545.7 18% Profitability Segment Adjusted EBIT Engineering Ser
Slide 14: Cash Flow, Capital Resources and Liquidity
14 Cash Flow, Capital Resources and Liquidity in $M, except otherwise indicated Net Cash Flow from Capital Returned to Net Limited Recourse and Recourse Operating Activities Shareholders Debt to Adjusted EBITDA Ratio1 97 Dividends 2025-2027 Target: Buybacks 87 1.1 1.0x to 2.0x 39 26 -0.3 -0.3 -0.4 -
Slide 15: 2026 Outlook Selected Metrics
15 2026 Outlook1 Selected Metrics 5 – 7% 16.5 – 17.5% Organic Segment Adjusted revenue EBITDA to segment growth2 net revenue ratio2 Engineering 2025 vs. 2024: 2025: 16.3% Services 0.9% Regions ~$2.5B 11 – 12% Mid 20’s (%) Revenue Segment Adjusted Segment Adjusted EBIT to segment EBITDA to segment 20
Slide 16: Conclusion
16 CONCLUSION
Slide 17: Conclusion
17 Conclusion ▪ Solid first quarter performance ▪ Global energy security and transition, as well as infrastructure redevelopment are fueling growth in our markets ▪ We are leaning into artificial intelligence as an enabler of productivity, safety, quality and predictability ▪ Our balance sheet puts
Slide 18: Questions & Answers
18 QUESTIONS & ANSWERS
Slide 19: 2026 Outlook and 2025-2027 Financial Targets
19 2026 OUTLOOK AND 2025-2027 FINANCIAL TARGETS
Slide 20: Outlook 2026
20 Outlook 20261 Growth Pillars Other Metrics 5 - 7% 16.5 - 17.5% $125M - 135M $175M - 200M Organic Segment Adjusted Corporate selling, Acquisition of revenue EBITDA to segment general and property and equipment growth2 net revenue ratio2 administrative expenses and additions to Engineering intangib
Slide 21: Financial Targets 2025-2027
21 Financial Targets 2025-20271 set in 2024, updated May 15, 2025 2 Revised 2025 – 2027 2025 Targets2 Actuals Engineering Services Regions Organic revenue growth3 CAGR 2025 – 2027 Between 5% and 7% 0.9% Initial: >8% Segment Adjusted EBITDA to segment net revenue ratio3 by 2027 Between 17% and 18% 16
Slide 22: Contact us
Contact us Denis Jasmin CPA, F.CIRI Vice-President, Investor Relations +1 514 393 8000 ext. 57553 Send Investor Relations an email: Book an introduction call with Investor Relations: www.atkinsrealis.com/investors
Slide 23: Endnotes
23 Endnotes (See also the cautionary statement regarding non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information at slide 2 of this presentation.) 1. Organic revenue growth (contraction) ratio is a non-IFRS ratio comparing or