Mr. Jess Nieukerk reports

STANTEC ANNOUNCES THE CLOSING OF $250 MILLION SENIOR UNSECURED NOTES OFFERING

Stantec Inc. has closed its previously announced private placement offering of $250-million aggregate principal amount of senior unsecured notes due June 27, 2030. The notes bear an interest rate of 5.393 per cent per annum and were priced at par.

Stantec intends to use the net proceeds of the offering to repay existing indebtedness and for general corporate purposes.

The notes are direct senior unsecured obligations of Stantec and rank pari passu with all of Stantec's existing and future senior unsecured indebtedness and senior in right of payment to any future subordinated indebtedness of Stantec. The notes have been assigned a rating of BBB, with a stable trend, by DBRS Ltd. (DBRS Morningstar).

About Stantec Inc.

Communities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That is why at Stantec, it always designs with community in mind.

Stantec cares about the communities it serves -- because they are its communities too. This allows the company to assess what is needed and connect its expertise, to appreciate nuances and envision what has never been considered, to bring together diverse perspectives so it can collaborate toward a shared success.

Stantec is a designer, engineer, scientist and project manager, innovating together at the intersection of community, creativity and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe.