Mr. Danny Craig reports

STANTEC ANNOUNCES AMENDMENT TO NORMAL COURSE ISSUER BID

Stantec Inc. has received approval from the Toronto Stock Exchange respecting an amendment of its previously approved normal course issuer bid (NCIB) to increase the maximum number of common shares Stantec may repurchase for cancellation under the NCIB from 2,281,339 (or 2 per cent of Stantec's issued and outstanding shares as of March 2, 2026), to 5,703,349 common shares (or 5 per cent of Stantec's shares as of March 2, 2026).

As at Aug. 17, 2026, Stantec had repurchased and cancelled a total of 1,667,292 common shares at a weighted average of $103.43 under the current normal course issuer bid, representing 1.46 per cent of the issued and outstanding common shares as at March 10, 2026, when Stantec filed its initial application with the TSX. The amended NCIB with the higher limit will commence on Aug. 20, 2026, and terminate no later than March 11, 2027. Except for the increase in the maximum number of common shares that may be acquired pursuant to the NCIB, no further amendments have been made to the NCIB. For further details regarding the NCIB, please refer to Stantec's prior news release dated March 10, 2026.

The automatic share purchase plan (the ASPP), implemented in connection with the current NCIB to allow for the purchase of Stantec's common shares under the NCIB at times when Stantec normally would not be active in the market due to applicable regulatory restrictions or internal trading blackout periods, remains in effect as previously approved by the TSX and will terminate on the earliest of the date on which: (a) the maximum annual purchase limit under the NCIB has been reached; (b) the NCIB expires; or (c) Stantec terminates the ASPP in accordance with its terms. The ASPP constitutes an automatic securities purchase plan under applicable Canadian securities laws.

Stantec believes that, from time to time, the market price of its common shares may not adequately reflect the value of its business and its future business prospects. As a result, Stantec believes at such times that its outstanding common shares may represent an attractive investment for Stantec, and an appropriate and desirable use of its available funds. This capital deployment strategy is consistent with Stantec's priority of maintaining balance sheet strength, while reinvesting in organic and acquisitive growth and increasing dividends, all of which contribute to enhanced shareholder returns.

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 its cities and infrastructure.

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

Stantec trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol STN.

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