Stantec to Acquire MWH, a Global Professional Services Firm with Leading Expertise in Water Resources Infrastructure

CAUTIONARY STATEMENTS

Stantec's EBITDA, Adjusted EBITDA, Adjusted Earnings per Share and certain references to other measures in the preliminary short form prospectus contemplated by this news release are non-IFRS measures. For a definition and explanation of non-IFRS measures, please see the preliminary short form prospectus and the documents incorporated by reference therein.

Certain statements contained in this news release constitute forward-looking statements within the meaning of applicable securities laws. Any such statements represent the views of management only as of the date hereof and are presented for the purpose of providing the Company's shareholders and potential investors with information regarding the Company, including management's expectations with respect to the Equity Financing and the Acquisition and management's assessment of the Company's future plans and financial outlook. Forward-looking information in this news release includes, but is not limited to, statements regarding: the planned Equity Financing and Acquisition, including the expected closings thereof; plans regarding financing the Acquisition, including but not limited to, using the proceeds of the Equity Financing together with other financing sources to pay for the Purchase Price;

the timing of the distribution of the Subscription Receipts; expectations or projections about strategies and goals for growth and expansion, including the Company's intention to leverage the brand equity of MWH and enhance cross-selling; expectations regarding realization of synergies and accretion following the Acquisition, and the timing thereof; expected impacts of the Acquisition on EBITDA composition, earnings, cash flow and dividend growth, as well as on the Company's future ability to reduce leverage levels. These forward-looking statements reflect management's belief and assumptions based on information available at the time the information was stated and is not a guarantee of future performance. Key assumptions on which forward-looking information is based include, but are not limited to, assumptions about: acquisitions and divestitures; regulatory decisions and outcomes; access to capital markets; timing and completion of the Acquisition, including receipt of regulatory and MWH stockholder approval; and the realization of the anticipated benefits and synergies of the Acquisition to the combined company, including impacts on growth and accretion in various financial metrics. The forward-looking events and circumstances discussed in this news release may not occur and could differ materially from current expectations as a result of known and unknown risk factors and uncertainties affecting the Company, including: regulatory decisions and outcomes; uncertainty regarding the length of time to complete the Acquisition; uncertainty regarding the Company's ability to achieve the cost savings, synergies and benefits anticipated from the Acquisition; economic conditions in North America and globally; and, many other factors beyond the control of the Company. Readers of this news release are cautioned not to place undue reliance on the Company's forward-looking statements, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. The Company does not undertake to update or revise any forward-looking statements contained in this news release or otherwise, whether as a result of new information, future events or otherwise, except as may be required by law. For additional information on the Company's assumptions, and the risks and uncertainties that could cause actual results to differ from the anticipated results, refer to the Company's preliminary short form prospectus and registration statement, each of which are filed on the Company's profile on SEDAR at www.sedar.com and with the SEC at www.sec.gov.

About Stantec

We're active members of the communities we serve. That's why at Stantec, we always design with community in mind.

The Stantec community unites more than 15,000 employees working in over 250 locations. Our work-professional consulting in planning, engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics - begins at the intersection of community, creativity, and client relationships. With a long-term commitment to the people and places we serve, Stantec has the unique ability to connect to projects on a personal level and advance the quality of life in communities across the globe. Stantec trades on the TSX and the NYSE under the symbol STN.

Design with community in mind

(1) Adjusted for out of ordinary course severance, estimated savings associated with certain employee retirement plans and other one-time costs and items.

(2) Earnings per Share adjusted to exclude estimated transaction-related intangible amortization, costs and other one-time items on an after-tax basis.

Contacts:
Stantec Media Contact
Danny Craig
Director, Public Relations
(949) 923-6085

danny.craig@stantec.com

Stantec Investor Contact
Sonia Kirby
Director, Investor Relations
(780) 616-2785

sonia.kirby@stantec.com

MWH Media Contact
Meg VanderLaan
Chief Communications Officer
(720) 999-4900

meg.vanderlaan@mwhglobal.com




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