Mr. Ian Edwards reports

SNC-LAVALIN SIGNS FIRST CANADIAN BATTERY PLANT MANDATE FOR $141 MILLION, STRENGTHENING COUNTRY'S ELECTRIC VEHICLE MANUFACTURING CAPABILITY

SNC-Lavalin Group Inc. has been awarded an initial works contract by EcoProBM, a global leader specializing in cathode materials, to design and build one of Canada's largest cathode active material (CAM) plants in Becancour, Que. The initial works contract is worth approximately $141-million, and represents SNC-Lavalin's first major mandate in the electric vehicle (EV) battery market in Canada.

"With a unique endowment of critical minerals, an established manufacturing and industrial base, and a largely decarbonized and expanding power grid, Canada has an opportunity to establish an end-to-end supply chain that can support growing domestic and international EV demand," commented Ian L. Edwards, president and chief executive officer, SNC-Lavalin. "SNC-Lavalin is strongly positioned to support governments and manufacturers, and deliver on the diverse pipeline of opportunities arising from the EV revolution, both in Canada and around the world, with our unique end-to-end capabilities that span across industries like mining, industrial and manufacturing, and clean power, all of which support the battery and EV markets."

SNC-Lavalin's engineering services groups will provide EcoProBM with initial concept design, basic design, and project management and delivery related to the establishment of the plant.

Cathode active material and EcoProBM's plant

For electric vehicles, CAM is a key battery component. It represents about 40 per cent of the cost of a battery cell.

EcoProBM, the global top high-nickel cathode active material maker, has formed a joint venture with Ford Motor Co. and the world's leading cell maker, SK On Co., to establish the $1.3-billion CAM plant in the Becancour industrial park, located between Quebec City and Montreal. Canada represents EcoProBM's second overseas factory. Production of the three lines is expected to begin in April, 2026. This plant will have a production capacity of 45,000 tonnes per year.

"EcoProBM's team has been working with SNC-Lavalin for over 15 months on previous contracts in a fully collaborative approach. SNC-Lavalin's project team has demonstrated their know-how, vision, and ability to respond and adjust to the requirements of fast-moving project objectives. Our teams collaborated on developing all technical and planning needs for a fast-track design/build full-delivery project. We made an excellent choice in selecting SNC-Lavalin as preferred partner for our first CAM project in North America, fully entrusting them to deliver the project to our full expectations," said Sang-Young Oh, managing director in global strategy and planning at EcoProBM.

"EcoProBM has selected us to carry out this initial work because of our demonstrated expertise across numerous disciplines, unique end-to-end service offering and solid supply chain, all of which we've demonstrated via early engagement in this ambitious project," said Bob Alger, president, major projects, SNC-Lavalin. "Via a collaborative contracting agreement, we look forward to helping EcoProBM realize its vision for the future of Canadian automotive manufacturing, and demonstrating that SNC-Lavalin is the partner of choice in establishing battery manufacturing plants and other EV-related facilities."

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. The company 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.