Slide 1: Third Quarter 2025 Results Presentation
Third Quarter 2025 Results Presentation November 14, 2025
Slide 2: Cautionary statement
Cautionary statement This presentation contains non-IFRS and other financial measures and forward-looking statements, including a discussion of our business targets, expectations, and outlook. We caution readers not to place undue reliance on our forward- looking statements since a number of factors
Slide 3: Q3 2025 Results
Q3 2025 Results Q3 2025 Net revenue profile $1.7B $323M Net revenue Adjusted EBITDA1 Organic Growth1 Q3 2025 RESULTS increased 11.8%* increased 17.8%* Global 5.6% 25% US 19.0% $1.53 52% Acquisition Growth1 Adjusted EBITDA margin1 increased 100 bps* Adjusted EPS1 increased 17.7%* 5.2% Canada 23% * Co
Slide 4: United States
United States $millions, unless otherwise stated 14.4% ORGANIC GROWTH Net revenue $888 4.6% Q3 2025 RESULTS $776 ACQUISITION GROWTH 8.9% Q3 2024 Q3 2025 Q3 2025 Highlights • Public and private investments across most of our sectors, particularly mission critical, science and technology, and civic co
Slide 5: Canada
Canada $millions, unless otherwise stated 7.6% Net revenue ORGANIC GROWTH 7.6% Q3 2025 RESULTS $372 $400 Q3 2024 Q3 2025 Q3 2025 Highlights • Continued momentum on wastewater solution projects contributed to over 20% organic growth in Water • Consistent progress on major power-intensive industrial p
Slide 6: Global
Global $millions, unless otherwise stated ORGANIC GROWTH 10.7% Net revenue 5.5% Q3 2025 RESULTS $377 $418 ACQUISITION GROWTH 2.8% Q3 2024 Q3 2025 Q3 2025 Highlights • Industry-leading Water business continued to deliver double-digit organic growth through long-term framework agreements and public se
Slide 7: Q3 2025 Financial Performance
Q3 2025 Financial Performance Vito Culmone Executive Vice President and Chief Financial Officer Oakland University South Foundation Hall Renovation 7 Rochester Hills, MI, USA
Slide 8: Q3 2025 Financial results
Q3 2025 Financial results $millions, unless otherwise stated Gross and Project margin Adjusted EBITDA and Adjusted net revenue and % of NR margin as % of NR1 earnings per share1 Q3 2025 RESULTS $2,141 $1,929 54.4% $1,705 54.3% $1,525 $928 $828 $1.53 $1.30 19.0% 18.0% $275 $323 Q3 2024 Q3 2025 Q3 202
Slide 9: Cash flow, liquidity and capital resources
Cash flow, liquidity and capital resources $millions, unless otherwise stated Operating Capital returned Days sales outstanding cash flow to shareholders Target < 80 days 80 Q3 2025 RESULTS 77 77 77 $551 73 73 $75 $70 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 $296 Net debt to adjusted EBITDA1
Slide 10: Backlog, Major Projects & Outlook
Backlog, Major Projects & Outlook Gord Johnston President and Chief Executive Officer San Fernando Groundwater Basin Remediation Project 10 Los Angeles, CA, USA
Slide 11: Backlog
Backlog $billions, unless otherwise stated YEAR-OVER-YEAR 14.9% $8.4 GROWTH: 5.6% $7.3 $1.6 Q3 2025 RESULTS $1.4 ORGANIC $4.2 $5.1 6.8% ACQUISITION $1.7 $1.7 Global United States Canada Q3 2024 Q3 2025 201 Portage Podium Redevelopment 11 Winnipeg, MB, Canada
Slide 12: Recent major project awards
Recent major project awards Q3 2025 RESULTS Stantec selected as Owner’s Stantec’s Infrastructure team Stantec’s Buildings team was Engineer for Manitoba Hydro’s was selected for a US$745 selected to deliver specialist C$7 billion High Voltage Direct million project to widen the engineering services
Slide 13: Revised 2025 financial targets
Revised 2025 financial targets Previously 2025 Published Range Annual Range Q3 2025 RESULTS Net revenue growth 10% to 12% 10% to 12% Adjusted EBITDA as % of net revenue1 17% to 17.4% 17.2% to 17.5% Adjusted net income as % of net revenue1 above 8.8% above 8.8% Adjusted diluted EPS growth1 18.5% to 2
Slide 14: Q&A
Q3 2025 RESULTS Q&A Calgary Office 14 Calgary, AB, Canada