Mr. Ian Edwards reports

SNC-LAVALIN ANNOUNCES AGREEMENT TO SELL SCANDINAVIAN ENGINEERING SERVICES BUSINESS TO SYSTRA GROUP

SNC-Lavalin Group Inc. has entered into a binding agreement to sell its Scandinavian engineering services business -- comprising Denmark, Sweden and Norway -- to Systra Group, a France-based engineering and consulting group specialized in public transport and mobility solutions.

The transaction -- which is subject to regulatory approvals and satisfaction of customary closing conditions -- represents another step forward in the company's strategy to reduce its risk profile, drive consistent profitable growth, and accelerate its continuing transition to becoming a leading provider of professional engineering services and project management solutions in identified strategic areas. At completion, which is anticipated to occur in the fall of 2023, the transaction is expected to generate a gain on sale.

"Last March, we indicated that we would be conducting a strategic review to focus on the solid growth we had achieved in 2022. Today, this agreement further optimizes our portfolio of activities and ensures that capital and human resources are deployed to the areas of our business with the highest value-creation potential. Moving forward, as we continue to deliver on our pivoting to growth strategy, we've positioned ourselves in fast-growing markets fuelled by energy transition and infrastructure investments," said Ian L. Edwards, president and chief executive officer of SNC-Lavalin Group.

"I would like to thank all employees from our Scandinavian engineering services business for their contributions over the years and wish them well in the next stage of their journey," added Mr. Edwards.

Pierre Verzat, the chief executive officer of Systra, said: "Systra's teams have already been able to contribute to numerous transport and mobility projects in these three countries, and these acquisitions will enable us to take on a new dimension in this region, opening new opportunities in our core markets of transport infrastructure and mobility. I'm confident in the great collaboration we will be able to create with our new colleagues, for the benefit of territories and populations."

The Scandinavian engineering services business has around 750 employees, and primarily services the transportation end-market.

About SNC-Lavalin Group Inc.

Founded in 1911, SNC-Lavalin is a fully integrated professional services and project management company with offices around the world dedicated to engineering a better future for the planet and its people. The company creates sustainable solutions that connect people, technology and data to design, deliver and operate the most complex projects. SNC-Lavalin 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 -- and delivered to clients in key strategic sectors such as engineering services, nuclear, operations and maintenance, and capital.

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