Mr. Ian Edwards reports

ATKINSREALIS-LED CONSORTIUM RECEIVES AWARD LETTER FOR ENGINEERING, TECHNOLOGY AND PROCUREMENT IN SUPPORT OF CANDU REACTOR LIFE EXTENSION IN ROMANIA

Candu Energy Inc. (an AtkinsRealis company (SNC-Lavalin Group Inc.)) and the Canadian Commercial Corp. (CCC), a federal Crown corporation, have received an award letter from Nuclearelectrica SA (SNN) to provide engineering, technology and procurement of tooling and reactor components in support of the life extension of SNN's Unit 1 Candu reactor at the Cernavoda nuclear power plant in Romania. Valued at approximately $750-million, the contract will build on a series of earlier preproject contracts for AtkinsRealis in Romania.

"As the original equipment manufacturer (OEM) of Candu nuclear technology, we are proud that this tried-and-tested Canadian-developed solution -- that has been so effective domestically and abroad -- has also provided Romanians with emissions free, cost-efficient and uninterrupted power for generations, securing its continued energy independence and also serving as an excellent blueprint for the rest of Eastern Europe," said Ian L. Edwards, president and chief executive officer of AtkinsRealis. "Not only is this award perfectly aligned with our net-zero philosophy, but it also operationalizes our commitment to engineer a better future for our planet and its people."

As the exclusive licensee of Candu intellectual property portfolio and contributing its unique experience and know-how in respect of all aspects of Candu technology, AtkinsRealis is the only organization that has taken a leading role in all Candu reactor life extension projects to date globally, including those successfully executed or under way in Asia, North America and South America. Work currently being performed by AtkinsRealis for Candu reactor life extension projects in Ontario, spanning 10 reactors at Darlington and Bruce Power, is running on time and on budget.

"We are happy to extend our collaboration for the retubing and refurbishment project of Cernavoda Unit 1 NPP with AtkinsRealis, which already proved its experience and capabilities. As Unit 1 is a strategic pillar for Romania's energy stability, we are proud to conduct this project at excellent standards and continue to offer clean energy for the following 30 years after its refurbishment. Moreover, the extension of the lifetime of Unit 1 will continue to bring multiple benefits to Romania: preserving high-quality jobs as well as creating new ones, investments in the community, an important contribution to local and national budget, as well as projects for the local supply chain, as part of our vision to create a sustainable future for the next generations," said Cosmin Ghita, chief executive officer of Nuclearelectrica.

"We're honoured and privileged to continue our decades long relationship with SNN and this award letter is a sign of their continued confidence in our long-standing work and proven capabilities at Cernavoda," said Joe St. Julian, president, nuclear, AtkinsRealis. "It is an important step toward the work that needs to be undertaken to extend the life of their Candu reactor and to continue the legacy of Candu technology's exemplary operating and safety record, which is a source of pride in Romania. It's why they're also progressing plans for the build of two more Candu reactors on the Cernavoda site."

Contract signing is scheduled to take place in the coming weeks and its entry in force will be subject to the approval of SNN's general meeting of shareholders and the completion of government of Canada formal approval processes.

About SNC-Lavalin Group Inc. (AtkinsRealis)

Created by the integration of long-standing organizations dating back to 1911, AtkinsRealis is a world-leading professional services and project management company dedicated to engineering a better future for the planet and its people. AtkinsRealis creates sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. AtkinsRealis deploys global capabilities locally to its clients and delivers unique end-to-end services across the whole life cycle of an asset, including consulting, advisory and environmental services, intelligent networks and cybersecurity, design and engineering, procurement, project and construction management, operations and maintenance, decommissioning, and capital. The breadth and depth of AtkinsRealis's capabilities are delivered to clients in key strategic sectors such as engineering services, nuclear, operations and maintenance, and capital.

About AtkinsRealis's nuclear business

AtkinsRealis has over 70 years of global nuclear expertise, delivering nuclear technology products and full-service solutions to nuclear utilities around the world. AtkinsRealis is the steward of Candu nuclear technology, operating on four continents, and provides advisory and engineering services to other nuclear developers. With an innovative technology portfolio, including access to over 500 patented solutions, AtkinsRealis solves technically complex challenges across the whole nuclear life cycle from design and new build through asset management and from life extension and late-life management through decommissioning and waste management. AtkinsRealis operates and manages government nuclear research sites, transforming aging infrastructure and safely managing legacy nuclear waste. AtkinsRealis is also involved in developing medical radioisotopes for cancer research through its partnership with TerraPower.

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