Slide 1: Q4 and Full Year 2025 Results Presentation
Q4 and Full Year 2025 Results Presentation February 26, 2026
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. Q4 & FULL YEAR 2025 RESULTS We caution readers not to place undue reliance on our forward- looking statemen
Slide 3: Record 2025 results
Record 2025 results 2025 Net revenue profile $6.5B $1.1B Q4 & FULL YEAR 2025 RESULTS Net revenue Adjusted EBITDA1 Organic Growth1 increased 10.7%* increased 16.7%* Global 5.0% 24% US 17.6% $5.30 Acquisition Growth1 52% Adjusted EBITDA margin1 increased 90 bps* Adjusted EPS1 increased 19.9%* 3.9% Can
Slide 4: United States
United States $millions, unless otherwise stated Q4 2025 • 2.1% organic FY2025 • 3.4% organic Growth • 11.5% acquisition Growth • 5.3% acquisition Q4 & FULL YEAR 2025 RESULTS 10.8% Net revenue 13.5% $3,041 $3,369 Net revenue $857 $755 Q4 2024 Q4 2025 2024 2025 2025 Highlights • Buildings: net revenu
Slide 5: Canada
Canada $millions, unless otherwise stated Q4 2025 • 5.5% organic FY2025 • 7.8% organic Growth Growth • 0.6% acquisition Q4 & FULL YEAR 2025 RESULTS 8.4% Net revenue 5.5% Net revenue $1,547 $1,427 $361 $381 Q4 2024 Q4 2025 2024 2025 2025 Highlights • Water: momentum on wastewater solution projects co
Slide 6: Global
Global $millions, unless otherwise stated Q4 2025 • 6.2% organic FY2025 • 5.8% organic Growth • 2.5% acquisition Growth • 4.4% acquisition Q4 & FULL YEAR 2025 RESULTS 12.9% Net revenue 11.0% Net revenue $1,579 $1,399 $362 $402 Q4 2024 Q4 2025 2024 2025 2025 Highlights • Water: double-digit organic g
Slide 7: Financial Performance, Backlog and 2026 Targets
Financial Performance, Backlog and 2026 Targets Vito Culmone Executive Vice President and Chief Financial Officer Seattle, WA, USA 7
Slide 8: Q4 2025 Results
Q4 2025 Results Q4 2025 Net revenue profile $1.6B $284M Q4 & FULL YEAR 2025 RESULTS Net revenue Adjusted EBITDA1 Organic Growth1 increased 10.9%* increased 15.0%* Global 3.9% 25% US 17.3% $1.25 52% Acquisition Growth1 Adjusted EBITDA margin1 increased 60 bps* Adjusted EPS1 increased 12.6%* 6.5% Cana
Slide 9: 2025 Financial results
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 Q4 & FULL YEAR 2025 RESULTS $8,144 $7,500 $6,495 54.3% $5,867 54.5% $3,529 $3,196 17.6% 16.7% $5.30 $4.42 $1,144 $980 2024 20
Slide 10: 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 Q4 & FULL YEAR 2025 RESULTS Target 80 < 80 days 77 77 $863 73 73 69 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 $603 Net debt to adjusted EBIT
Slide 11: Backlog
Backlog $billions, unless otherwise stated YEAR-OVER-YEAR 9.5% $8.6 GROWTH: Q4 & FULL YEAR 2025 RESULTS $7.8 3.6% $1.7 $1.4 ORGANIC $4.7 $5.1 8.1% ACQUISITION $1.7 $1.8 Global United States Canada Q4 2024 Q4 2025 UC Davis Health, Health Administrative Services Building 11 Sacramento, CA, USA
Slide 12: 2026 Financial targets
2026 Financial targets 2026 Annual Range Q4 & FULL YEAR 2025 RESULTS Net revenue growth 8.5% to 11.5% Adjusted EBITDA as % of net revenue1 17.6% to 18.2% Adjusted net income as % of net revenue1 at or above 9.5% Adjusted diluted EPS growth1 15% to 18% Adjusted ROIC1 above 13% 1. Adjusted EBITDA, adj
Slide 13: 2026 Business Drivers
2026 Business Drivers Gord Johnston President and Chief Executive Officer Honolulu Rail Transit Project 13 Honolulu, HI, USA
Slide 14: Regional 2026 Outlook
Organic growth expected to be in the mid to high single digit range Regional 2026 Outlook in each of our geographies, driven by: United States • Growth is expected to rebound in 2026 supported by strong demand Q4 & FULL YEAR 2025 RESULTS across all business lines Canada • Driven by public sector spe
Slide 15: AI strengthens Stantec's professional model
AI strengthens Stantec’s professional model and presents opportunities for revenue growth Streamlining Task Efficiency Q4 & FULL YEAR 2025 RESULTS AI automates document-heavy and repetitive tasks, allowing engineers to focus on design and risk management. Early Option Evaluation AI empowers earlier
Slide 16: Q&A
Q4 & FULL YEAR 2025 RESULTS Q&A Dana Dam Removal and Stream Restoration 16 Connecticut, USA