Mr. Gord Johnston reports

STANTEC REPORTS $3.9 BILLION OF 2023 REVENUE ALIGNED WITH SUSTAINABLE DEVELOPMENT GOALS IN 17TH ANNUAL SUSTAINABILITY REPORT

Stantec Inc. has released its 17th annual sustainability report with $3.9-billion (61 per cent) of its 2023 gross revenue generated from work supporting core United Nations Sustainable Development Goals (SDG). This reflects a $500-million increase from 2022, and a $1.9-billion increase since Stantec began tracking SDG revenue in 2019.

Stantec's sustainability report highlights the company's contributions to and focus on sustainability for its primary stakeholders, including employees, investors, clients and communities.

"Sustainability is authentically and purposefully embedded in our business, our practice and our culture," said Gord Johnston, Stantec president and chief executive officer. "Our collective achievements outlined in our sustainability report, including the continued growth in our SDG-aligned revenue, reflect our commitment to building a resilient, inclusive and sustainable future for all the communities we serve."

Stantec's 2023 sustainability report celebrates several key milestones and corporate achievements, including:

• Stantec achieved operational carbon neutrality for the second year in a row and committed to the Canada Net Zero Challenge.
• Stantec released its 2024 to 2026 strategic plan. The company updated its strategic growth initiatives, which have a direct connection to climate action, demonstrating Stantec's commitment to reinforcing sustainability into the company's business and culture.
• Stantec ranked No. 1 in its peer group in the Corporate Knights Global 100 most sustainable companies rankings, which recognize business practices based on environmental, social and governance (ESG) indicators. This was Stantec's fifth year on the Global 100 list. Stantec was recognized by CDP for climate-related progress, with an A-minus rating for the sixth consecutive year.

Stantec also announced it met the first-year terms of its sustainability-linked loan and donated the accumulated savings to indigenous-led non-profits addressing climate action. With guidance from the company's indigenous relations teams, the following non-profit organizations were selected to receive these donations:

• Alliance for Tribal Clean Energy (United States);
• First Nations Clean Energy Network (Australia);
• Indigenous Clean Energy (Canada);
• Indigenous Housing Partnership, Habitat for Humanity (Canada);
• Te Tira Whakamataki (New Zealand).

Stantec's sustainability report highlights key sustainability projects the company is leading and how they impact communities around the world, including:

• United Kingdom: Replacing concrete and chemicals seen in traditional waste water works, the Clifton integrated constructed wetland is shifting the paradigm for engineering, regulatory approvals and performance standards of nature-based infrastructure within the United Kingdom. Using 24,000 plants comprising 25 different species, the award-winning Clifton Works is now a pollinator nature reserve and one of the first biodiversity net-gain-positive waste water treatment works in the country. The size of three Olympic swimming pools, the new works will reduce operational costs by 40 per cent and provide carbon savings of 79 per cent.
• Canada: The low-carbon, mass timber FortWhyte Alive Buffalo Crossing Visitor Center creates awareness of the natural world and encourages sustainable living through its nature trails, outdoor learning spaces and water activities. Aligned with Canada Green Buildings Council's Zero Carbon Building standards, the project will be Manitoba's first commercial building to achieve Passive House certification.
• United States: Working with the South Carolina Department of Transportation and Federal Highway Administration, Stantec was instrumental in amplifying the voices of marginalized communities affected by the I-526 and I-26 highway improvement project (Lowcountry Corridor West). Implementing a $146-million (U.S.) environmental justice community mitigation plan, Stantec supported community resilience by actualizing the experiences of residents and ensuring the project addresses them to strengthen community resilience. Together, the project bridges community and transportation needs of the Charleston area.
• Australia: Found in shallow water estuaries and coastal embayments, the White's Seahorse, or Hippocampus whitei, became the first and only species in the Syngnathidae family to be listed as endangered, granting it protection under Australian state and commonwealth legislation. Stantec worked to install seahorse hotels to help recover population and habitat, including relocation of the species -- essentially moving them out of harm's way.

Stantec's sustainability report -- which is compliant with the Global Reporting Initiative, Sustainability Accounting Standards Board and Task Force on Climate-Related Financial Disclosures requirements -- captures annual company ESG performance for the year ending Dec. 31, 2023.

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 Stantec 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.

We seek Safe Harbor.