Slide 1: Second Quarter 2025 Results Presentation
Second Quarter 2025 Results Presentation August 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: Delivering on acquisition growth
Delivering on acquisition growth July 31, 2025 – Page acquisition closed • 1,400-person US-based architecture and engineering firm headquartered in Washington, DC Q2 2025 RESULTS June 27, 2025 – Acquired Cosgroves • 90-person firm in New Zealand, expanding our buildings engineering capabilities in t
Slide 4: Recent awards
Recent awards #1 Top Architecture Firm Q2 2025 RESULTS Modern Healthcare’s 2025 Construction & Design survey #5 Time Magazine – Canada’s Best Companies 2025 Arthur J.E. Child Comprehensive Cancer Centre 4 Calgary, AB, Canada
Slide 5: Q2 2025 Results
Q2 2025 Results Q2 2025 Net revenue profile $1.6B $284M Net revenue Adjusted EBITDA1 Organic Growth1 Q2 2025 RESULTS increased 6.9%* increased 15.0%* Global 4.8% 24% Acquisition Growth1 0.8% US 17.8% $1.36 51% Adjusted EBITDA Adjusted EPS1 margin1 increased 120 bps* increased 21.4%* Canada 25% * Com
Slide 6: United States
United States $millions, unless otherwise stated 5.7% Net revenue ORGANIC GROWTH 4.4% Q2 2025 RESULTS $776 $820 Q2 2024 Q2 2025 Q2 2025 Highlights • Public and private sector investments across most of our sectors, particularly mission critical, science and technology, and civic contributed to growt
Slide 7: Canada
Canada $millions, unless otherwise stated 6.2% Net revenue ORGANIC GROWTH 6.2% Q2 2025 RESULTS $371 $394 Q2 2024 Q2 2025 Q2 2025 Highlights • Continued momentum on wastewater solution projects contributed to over 30% organic growth in Water • Consistent progress on major power-intensive industrial p
Slide 8: Global
Global $millions, unless otherwise stated ORGANIC GROWTH 10.5% Net revenue 4.3% Q2 2025 RESULTS $383 ACQUISITION GROWTH $347 3.6% Q2 2024 Q2 2025 Q2 2025 Highlights • Industry-leading Water business delivered double-digit organic growth across the UK, Australia and New Zealand through long-term fram
Slide 9: Q2 2025 Financial Performance
Q2 2025 Financial Performance Vito Culmone Executive Vice President and Chief Financial Officer University of Manitoba – Stanley Pauley Engineering Building 9 Winnipeg, MB, Canada
Slide 10: Q2 2025 Financial results
Q2 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 Q2 2025 RESULTS $1,964 $1,890 54.2% $1,597 54.4% $1,493 $865 $812 $1.36 $1.12 16.6% 17.8% $247 $284 Q2 2024 Q2 2025 Q2 202
Slide 11: 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 79 80 Q2 2025 RESULTS 77 77 77 73 $235 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 $50 $46 Net debt to adjusted EBITDA1 $117
Slide 12: Revised capital structure
Revised capital structure • Successful bond offering issuing $425 million senior unsecured notes for a 7-year term Q2 2025 RESULTS • Increased unsecured revolver credit facility to $1.2 billion (previously $800 million) and extended the maturity date to 2030 • Increased to reflect growth of Stantec
Slide 13: Backlog, Major Projects & Outlook
Backlog, Major Projects & Outlook Gord Johnston President and Chief Executive Officer LA Metro Division 14 Expo Line Light Rail Operations & Maintenance 13 Santa Monica, CA, USA
Slide 14: Backlog
Backlog $billions, unless otherwise stated 9.9% $7.9 $7.2 YEAR-OVER-YEAR Q2 2025 RESULTS $1.5 $1.3 ORGANIC GROWTH 9.0% $4.6 $4.2 $1.7 $1.8 Global United States Canada Q2 2024 Q2 2025 Gila River Indian Irrigation & Drainage District 14 Gila River, AZ, USA
Slide 15: Recent major project awards
Recent major project awards Q2 2025 RESULTS Stantec JV awarded US$150 Stantec won a four-year Stantec’s Water and million contract supporting the framework with Transport for Environmental Services teams US Navy’s Shipyard Infrastructure Greater Manchester collaborating on Google’s Optimization Prog
Slide 16: Revised 2025 financial targets
Revised 2025 financial targets Previously 2025 Published Range Annual Range Q2 2025 RESULTS Net revenue growth 7% to 10% 10% to 12% Adjusted EBITDA as % of net revenue1 16.7% to 17.3% 17% to 17.4% Adjusted net income as % of net revenue1 above 8.8% above 8.8% Adjusted diluted EPS growth1 16% to 19%
Slide 17: Q&A
Q2 2025 RESULTS Q&A Pikeview Quarry Mine Closure Canal 17 Colorado Springs, CO, USA