Ms. Jess Nieukerk reports

STANTEC ANNOUNCES THE CLOSING OF $425 MILLION SENIOR UNSECURED NOTES OFFERING

Stantec Inc. has closed its previously announced private placement offering of $425-million aggregate principal amount of senior unsecured notes due June 10, 2032. The notes bear an interest rate of 4.374 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. (Morningstar DBRS).

About Stantec Inc.

Stantec empowers clients, people and communities to rise to the world's greatest challenges at a time when the world faces more unprecedented concerns than ever before.

The company is a global leader in sustainable engineering, architecture and environmental consulting. Its professionals deliver the expertise, technology and innovation communities need to manage aging infrastructure, demographic and population changes, the energy transition, and more.

Today's communities transcend geographic borders. At Stantec, community means everyone with an interest in the work that the company does -- from its project teams and industry colleagues to its clients and the people its work impacts. The diverse perspectives of its partners and interested parties drive the company to think beyond what has previously been done on critical issues like climate change, digital transformation and future-proofing our cities and infrastructure.

The company consists of designers, engineers, scientists, project managers and strategic advisers. It innovates at the intersection of community, creativity and client relationships to advance communities everywhere, so that together we can redefine what is possible.