Mr. Ian Edwards reports

SNC-LAVALIN REACHES AN AGREEMENT TO SELL ITS REAL ESTATE FACILITIES MANAGEMENT BUSINESS IN CANADA FOR $45 MILLION TO BROOKFIELD GLOBAL INTEGRATED SOLUTIONS

SNC-Lavalin Group Inc. has reached an agreement to sell its non-core real estate facilities management business in Canada to Brookfield Global Integrated Solutions (Brookfield GIS) for $45-million, which includes facilities management, property management, realty management and related project management. The community mailboxes and P3s are not included in the agreement. SNC-Lavalin's real estate facilities management business in Canada has approximately 1,100 employees.

This sale is a result of a review carried out under SNC-Lavalin's operational excellence approach, which identified these activities as non-core to the business strategy.

"We are aligning our operations and maintenance business in Canada with SNC-Lavalin's core sectors, by focusing on providing operations and maintenance services in transportation, social infrastructure, P3s, industrial, power, defence and logistics, and oil and gas," said Ian L. Edwards, president, infrastructure, SNC-Lavalin. "We are pleased to sell our real estate facilities management business in Canada to another solid Canadian company. Brookfield is the ideal owner to provide the investment, client care and long-term planning to grow it."

"This acquisition will allow Brookfield GIS to continue to execute on its growth strategy as a leading real estate facilities management services provider across the globe. We are excited about the opportunity to leverage the scale, knowledge and expertise of the combined operations to enhance the business performance of our existing and newly acquired clients," said Gord Hicks, president and chief executive officer, Americas, Brookfield Global Integrated Solutions.

Brookfield GIS has a strong record of investment in this particular area. The transfer of employment to Brookfield GIS will occur during a transition period that is expected to be completed at the closing of this agreement in order to align with operational and client needs.

The agreement is subject to customary regulatory and other approvals, and is expected to close by the end of this year.