#11 EXCELLENCE INNOVATION PEOPLE GROWTH STN TSX NYSE Stantec ella's Investor Presentation September 2020 Joint Venture with Snøhetta Temple University - Charles Library Philadelphia, Pennsylvania, USA Photo credit: Michael Grimm EVENTS PEOPL CELLENCE H 1 M 0 ୪ ଦ NOVATION#22 EXCELLENCE INNOVATION PEOPLE GROWTH STN TSX NYSE Cautionary Note Regarding Forward-Looking Statements Certain statements contained in this presentation constitute forward-looking information and statements within the meaning of applicable securities law (collectively, "forward-looking statements"). Forward-looking statements in this presentation include, but are not limited to: our financial targets (including our annual net revenue growth, adjusted EBITDA, and net income targets; employee count; and ROIC target), our anticipated business and geographical mix, our expectations regarding economic and industry trends in the sectors and regions in which we operate, our acquisition strategy, our capital deployment strategy, and our overall growth strategy. These statements provide information about management's current expectations and plans relating to the future. Readers are cautioned that this information may not be appropriate for other purposes. Stantec does not undertake any obligations to publicly update or revise any forward-looking statements except as required by law. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. Readers are cautioned not to place undue reliance on our forward-looking statements since a number of factors could cause actual future results, conditions, actions, or events to differ materially from the targets, expectations, estimates, or intentions expressed in these forward- looking statements. Risk factors include, but are not limited to, the risk of an economic downturn, decreased spending in the private and/or public sectors, changing market conditions for Stantec's services, and the risk that Stantec fails to capitalize on its strategic initiatives. Investors and the public should carefully consider these factors, other uncertainties, and potential events, as well as the inherent uncertainty of forward-looking statements when relying on these statements to make decisions about our company. For more information about how other material risk factors could affect our results, please refer to the Risk Factor section in our 2019 Annual Report and Q2 2020 Management's Discussion and Analysis incorporated herein by reference. Readers can access these documents by visiting EDGAR on the SEC website at sec.gov or by visiting the CSA website at sedar.com or on Stantec's website at stantec.com. In determining our forward-looking statements, we consider material factors including assumptions about the performance of the Canadian, US, and global economies in 2020 and beyond and their effect on our business. These key factors and assumptions are outlined thoroughly in our press release dated December 3, 2019. Unless otherwise indicated, all amounts expressed in Canadian dollars.#33 EXCELLENCE INNOVATION PEOPLE GROWTH STN TSX NYSE Diversified Global Footprint - Local Presence 54% Distribution of Net Revenue $3.8B TTM Q2 2020 17% ■ United States ■ Canada ■ Global 29%#44 EXCELLENCE INNOVATION PEOPLE GROWTH STN TSX NYSE Stantec at a glance (1) TTM Q2 2020 (2) As of October 7, 2020 22,000 Employees Globally 6.6% 10-Year Adjusted Diluted EPS CAGR(1) STN TSX & NYSE 350 Locations Worldwide 65 YEARS Of Uninterrupted Profitability CDN $4.5B (²) Market Capitalization#55 GROWTH EXCELLENCE PEOPLE INNOVATION STN TSX NYSE Design & Engineering Services For everything from small local projects to iconic mega projects BUSINESS OPERATING UNITS (TTM Q2 2020 Net Revenue) INFRASTRUCTURE BUILDINGS WATER ENVIRONMENTAL SERVICES $1,066M $828M HERERE $754M $570M ENERGY & RESOURCES $542M Stantec is a signatory to the UN Global Compact and partners with clients to promote the achievement of the UN's Sustainable Development Goals SUSTAINABLE GALS DEVELOPMENT#6STN TSX NYSE EXCELLENCE INNOVATION PEOPLE GROWTH 1000 800 600 400 200 Infrastructure Front-end design and engineering services and some construction management and inspection work for private and public sector clients 28% % of Net Revenue Q2 2020 YTD Net Revenue (C$ Millions) CAGR 7.0% = 0 2017 2018 2019 LTM Q2 2020 6 Infrastructure Capability London, United Kingdom Net revenue by sector Q2 2020 YTD Net revenue by geography Q2 2020 YTD ■Bridges ■ Transit & Rail Community Development ■ Roadways ■ Global ■ Canada ■ United States#7STN TSX NYSE EXCELLENCE INNOVATION PEOPLE GROWTH 1000 800 600 400 200 Buildings Pre-design, design, and construction administration services in planning, architecture, interior design, buildings engineering, and sustainability and building performance for vertical infrastructure, with greater weighting towards public vs private sector clients. 22% % of Net Revenue Q2 2020 YTD Net Revenue (C$ Millions) Google Midwest Headquarters Phase IV Chicago, IL, USA Net revenue by sector Q2 2020 YTD CAGR 6.1% = 0 2017 2018 2019 LTM Q2 2020 7 Science & Technology Airports & Aviation ■ Education ■ Civic ■ Healthcare ■ Industrial ■Commercial Net revenue by geography Q2 2020 YTD ■ Global ■Canada ■ United States#8STN TSX NYSE Water Traditional planning, engineering, design, and construction management services augmented with financial and enterprise management, program and asset management, and intelligent platforms for public and private sector clients EXCELLENCE INNOVATION PEOPLE GROWTH 1000 800 600 400 200 21% % of Net Revenue Q2 2020 YTD Net Revenue (C$ Millions) King's Scholars Pond Sewer Rehabilitation London, United Kingdom CO Net revenue by sector Q2 2020 YTD CAGR = 2.8% ■Client Enterprise Systems Water Treatement Net revenue by geography Q2 2020 YTD ■ Global 0 2017 2018 2019 LTM Q2 2020 8 ■Stormwater ■Water Resources ■ Wastewater Treatment ■Conveyance ■Canada ■ United States#9STN TSX NYSE EXCELLENCE INNOVATION PEOPLE GROWTH 1000 800 600 400 200 Environmental Services Planning and permitting services for private sector clients, and remediation activities for private and public sector clients 14% % of Net Revenue Q2 2020 YTD Net Revenue (C$ Millions) CAGR 9.5% 0 2017 2018 2019 LTM Q2 2020 9 Barrow Island Vegetation Recognition Barrow Island, Australia Net revenue by sector Q2 2020 YTD ■Mining ■Community Development ■Transportation ■ Power & Dams Buildings ■ Water ■ Oil & Gas Net revenue by geography Q2 2020 YTD ■ Global ■Canada ■ United States#10STN TSX NYSE EXCELLENCE INNOVATION PEOPLE GROWTH 1000 800 600 400 200 Energy & Resources Industrial engineering services for private sector energy, resource, and power clients 15% % of Net Revenue Q2 2020 YTD Net Revenue (C$ Millions) Dokie Wind Energy Project British Columbia Net revenue by sector Q2 2020 YTD CAGR 12.7% 0 2017 2018 2019 LTM Q2 2020 10 WaterPower & Dams ■Mining ■ Power ■ Oil & Gas Net revenue by geography Q2 2020 YTD ■ Global ■Canada United States#1111 EXCELLENCE PEOPLE INNOVATION GROWTH STN TSX NYSE Brucejack Mine Stewart, British Columbia, Canada YTD Results and 2020 Outlook#1212 Q2 2 0 20 STN TSX NYSE YTD 2020 results Net revenue & organic growth (retraction) ($ millions, %) 2.3% YTD 20 YTD 19 Change 7.4% 5.3% 4.2% (2.1)% (In millions of Canadian dollars, except per share amounts and percentages) % of Net Revenue % of Net Revenue % Year- over-year change $954 $953 $955 $951 Net revenue 1,906.3 100.0 1,857.7 100.0 2.6 $901 Gross margin 996.4 52.3 1,006.0 54.2 (1.0) Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Administrative and marketing expenses 711.3 37.3 729.5 39.3 (2.5) EBITDA from continuing operations (1) 263.5 13.8 278.1 15.0 (5.2) Adjusted EBITDA and margin ($ millions, %) Net income from continuing operations 82.1 4.3 94.2 5.1 (12.8) 15.2% 16.7% 15.8% 14.6% 15.0% Diluted earnings per share (EPS) from continuing operations 0.74 0.84 (11.9) Adjusted EBITDA from continuing operations(1) 282.2 14.8 272.5 14.7 3.6 Adjusted net income from continuing operations (1) 112.0 5.9 106.4 5.7 5.3 $159 $145 $143 $140 $143 Adjusted diluted EPS from continuing operations (1) 1.00 0.95 5.3 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 (1) EBITDA, adjusted EBITDA, adjusted net income, and adjusted diluted EPS are non-IFRS measures (discussed in the Definitions section of Stantec's 2019 Annual Report and Q2 2020 Management's Discussion and Analysis).#1313 Q2 2 0 20 STN TSX NYSE Balance sheet strength Net debt to adjusted EBITDA (¹) (TTM) Q2 19 Q3 19 Q4 19 Q2 19 Q3 19 0 Q1 20 Q2 20 Days sales outstanding Q4 19 Q1 20 2 Net debt to adjusted EBITDA (1) 1.5 1 0.5 1.0x at June 30, 2020 Target range 1.0 - 2.0x 95 90 85 80 80 75 Days sales outstanding 82 days at June 30, 2020 Target 90 days 70 70 Q2 20 (1) Net debt to adjusted EBITDA and days sales outstanding are non-IFRS measures. (discussed in the Definitions section of Stantec's 2019 Annual Report and Q2 2020 Management's Discussion and Analysis).#14Q2 2 0 20 STN TSX NYSE . • Liquidity and capital allocation (Comparisons to YTD 2019) $148.5 MM improvement in free cash flow(1) 57% decrease in capital expenditures >$330 million in undrawn credit capacity Free cash flow (1) ($ millions) $204 $115 $94 ($85) $210 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Cash flow from continuing operations (millions of Canadian dollars) Inflow (Outflow) Operating Investing Financing Net YTD 20 YTD 19 Capital returned to shareholders ($ millions) Dividends ☐ Share buy backs 206.1 73.8 (31.8) (116.8) $33 (124.6) (20.8) $17 $12 49.7 (63.8) $16 $16 $17 $16 $17 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 (1) Free cash (out)flow is defined as operating cash flows less capital expenditures and net payment of lease obligations. 14#1515 2020 OUTLOOK STN TSX NYSE 2020 Outlook Net Revenue and Adjusted Earnings • • • Full-year 2020 net revenue expected to be comparable to 2019 Adjusted net income and adjusted diluted EPS comparable to 2019 55% of adjusted earnings in Q2 and Q3, and 45% in Q1 and Q4 Leverage • Net debt to adjusted EBITDA expected to be at the low end of internal range of 1.0x to 2.0x • No near-term debt maturities • More than 70% of debt is floating rate Liquidity & Capital Allocation • >$330 million available liquidity on committed revolving credit facility ($600 million also available through accordion) • Non-essential capital expenditures on hold • Dividend re-affirmed • Share repurchases on opportunistic basis Continued balance sheet strength and disciplined capital deployment#1616 EXCELLENCE GROWTH PEOPLE INNOVATION Maida Vale Flood Alleviation Scheme North West London, United Kingdom STN TSX NYSE ESG leadership that drives value#1717 17 EXCELLENCE INNOVATION PEOPLE STN TSX NYSE ESG governance at Stantec GROWTH Sustainability and our contributions to the UN's sustainable development goals is a priority at the board level, C-suite and throughout Stantec Sustainability Governance Structure BOARD HSSES COMMITTEE EXECUTIVE ESG COMMITTEE Corporate teams contributing to Stantec's sustainability performance VICE PRESIDENT, SUSTAINABILITY Board Health, Safety, Security, Environment & Sustainability Committee Members include: Donald J. Lowry (chair) . Patricia D. Galloway . Robert J. Gomes Executive ESG Committee Coordinated by the VP of Sustainability, its members include the: • . Chief financial officer (chair) Chief operating officer - Global Chief human resources officer EXECUTIVE HSSE • SVP of Corporate Strategy COMMITTEE • SVP of Environmental Services ● VP Associate General Counsel . VP Practice Services • VP Sustainability Regional Leader of Europe#1818 00 EXCELLENCE INNOVATION PEOPLE STN TSX NYSE GROWTH Stantec's ESG framework Stantec is a signatory to the UN Global Compact and has adopted the UN's sustainable development goals (SDGs) Member of the UN Global Compact CFO Taskforce for the SDGs SUSTAINABLE DEVELOPMENT GALS 3 GOOD HEALTH AND WELL-BEING 5 сл GENDER EQUALITY 8 DECENT WORK AND ECONOMIC GROWTH REDUCED 10 INEQUALITIES Impact through our actions our project work 12 RESPONSIBLE CONSUMPTION AND PRODUCTION GO 113 CLIMATE ACTION 6 CLEAN WATER AND SANITATION 7 AFFORDABLE AND CLEAN ENERGY 7 In addition to UN SDGs, Stantec's programs take into account GRI, TCFD, SASB, and CDP 113 9 INDUSTRY, INNOVATION AND INFRASTRUCTURE CLIMATE LIFE ACTION 14 BELOW WATER 15 LIFE ON LAND 11 SUSTAINABLE CITIES AND COMMUNITIES#1919 STN TSX NYSE EXCELLENCE INNOVATION PEOPLE GROWTH Environmental leadership Stewardship and innovation that drives value Stantec's recognized leadership in sustainable design helps win projects Industry Recognition* *ENR - Engineering News-Record Magazine #1 Green design firm for educational facilities #1 Environmental Firm #2 #4 Green building firm Design firm in North America #2 #8 Design firm in power for hydro plants #11 #4 Design firm in the world International design firm for water Design firm in power for wind power International design firm for sewer and waste #2 Recent accolades Corporate Knights 2020 Ranked as Top 100 Most Sustainable Companies in the World CDP Climate Leader 2019 CDP score of A- Top 100 Smart City Partners Newsweek magazine 13 CLIMATE ACTION Metric Tons CO2 Equivalent 3 In 2019 we achieved a 39% reduction in scope 1 and 2 emissions per employee from our 2013 baseline – We expect to surpass our 2028 reduction target of 40% Emissions per Employee by Year 0 14 15 16 17 18 19 Scope 1 and 2 □□Scope 3#2020 EXCELLENCE INNOVATION PEOPLE GROWTH STN TSX NYSE Social leadership Embracing and engaging diverse groups improves the performance of our business and our ability to support clients. STN is included in the Bloomberg Gender-Equality and Jantzi Social Indexes 3 0.8 GOOD HEALTH AND WELL-BEING Stantec's Safer Together™ culture encourages safe choices so our people return home safely each day. Stantec's safety metrics continue to improve 8 5 10 DECENT WORK AND ECONOMIC GROWTH GENDER EQUALITY REDUCED INEQUALITIES Stantec attracts, retains, develops, and rewards talent by paying fairly, providing benefits with meaningful choices and offering a consistent global approach while being sensitive to local market practices. Global Compact Network Canada - Gender Equality Leadership in the Canadian Private Sector Project participant. Signatory to UN Women Empowerment Principles. Currently expanding our long-term support for diversity and inclusion programs with a focus on Black, Indigenous and People of Color communities around the world. Employee Retention: Targeting 12% voluntary turnover Board of Director Composition Gender 38% Female 62% Male Inclusion and Diversity: Targeting >85% engagement 1.5 1.2 0.6 0.9 0.4 0.6 0.2 0.3 ....!! 0.0 0.0 14 15 16 17 18 19 14 15 16 17 18 19 TRIR A lagging indicator that tracks the number of recordable incidents that a company experiences during a year, normalized to 100 full-time employees. A low TRIR score is desirable. LISI An index composed of leading indicators that measures proactive and preventive activities. Identifying leading indicators is intended to reduce the number of safety incidents that occur and to promote a proactive approach to health and safety. A high LISI score is desirable.#2121 EXCELLENCE INNOVATION PEOPLE GROWTH STN TSX NYSE Strong governance A diverse board and values-based leadership Stantec's board is dominated by independent directors from exceptional backgrounds. Our leadership is driven by clear values that position Stantec for the future Board Composition and Experience Environmental and Social Factors 63% highly experienced 25% general experience 12% limited experience Governance 100% highly experienced 16 PEACE, JUSTICE AND STRONG INSTITUTIONS How Stantec's people conduct themselves has a direct impact on the integrity of both the Company and the institutions in the jurisdictions where we operate 95% compliance with mandatory ethics training in 2019#22EXCELLENCE INNOVATION PEOPLE GROWTH STN TSX NYSE Our Strategic Plan (Launched December 3, 2019) SEVA résidences - foot bridge and marsh development Candiac, Québec#2323 EXCELLENCE INNOVATION PEOPLE GROWTH STN TSX NYSE Our vision To be a top 10 global design firm that maximizes long-term, sustainable value Pure play design Strong alignment focus Earnings growth with shareholders Disciplined capital allocation Peace River Regional Reservoir Bradenton/DeSoto County, Florida, United States#2424 STN TSX NYSE Our opportunity Key Market Trends Climate change, Urbanization, Geopolitics and breakthrough technology STRATEGIC GROWTH OPPORTUNITIES EXCELLENCE INNOVATION PEOPLE GROWTH TUI BELE COASTAL RESILIENCE ECOSYSTEM RESTORATION US $300B1 US $9,000B1 SMART CITIES AND URBAN PLACES US $1,700B² ENERGY REMIX US$24T TOTAL SPEND IN THE NEXT DECADE US$2T ADDRESSABLE ENGINEERING AND DESIGN SPEND US $13,040B³ 1) United Nations by 2030 2) Navigant Research by 2030 3) IEA by 2025#2525 EXCELLENCE INNOVATION PEOPLE GROWTH STN TSX NYSE Our strategy To grow and diversify sustainably for the benefit of our clients, employees and shareholders. DESIGN WITH COMMUNITY/ PEOPLE EXCELLENCE CLIENTS GROWTH INNOVATION BATING COMMUNITIE We will do this through Strong execution, efficient operations, and disciplined capital allocation while delivering a great client experience. We will measure our success through Strong earnings per share growth, improved returns on invested capital, balance sheet stability, employee engagement and client satisfaction.#2626 EXCELLENCE INNOVATION STN TSX NYSE Our capital allocation philosophy Focused on achieving the best risk adjusted returns PEOPLE GROWTH Operating cash flow Our core commitments Maintaining a strong Sustaining CapEx balance sheet Base dividend adjusted returns Competing capital for the best risk Share buyback Excess Cash Flow EPS Growth Growth Organic and innovation Acquisitions#2727 EXCELLENCE PEOPLE INNOVATION GROWTH STN TSX NYSE Our Targets Ruwais Marina District Rumais, Abu Dhabi, UAE Net revenue >10% CAGR Adjusted EBITDA margin 16-17% Of net revenue Adjusted earnings per share >11% CAGR Return on invested capital >10%#2828 GROWTH EXCELLENCE PEOPLE INNOVATION STN TSX NYSE Concluding Remarks Madison Street Park Tampa, FL, USA#2929 2020 OUTLOOK STN TSX NYSE Continuing to execute our strategy • • People Our people's health and safety comes first as we begin our phased office remobilization Integrity of workforce is being preserved to work through record backlog and to position Stantec for economic recovery Excellence Continued focus on project execution and delivering exceptional work for clients • Stantec's EBITDA margins bolstered by prudent management of discretionary spending Innovation • • Innovating client solutions to address the challenges created by COVID-19 Virtual marketing and business development toolkit developed and launched to enhance sales and client relationship management Growth Focused account management has driven 7.4% organic growth in key accounts year-over-year Pace of acquisitions slowed due to travel restrictions#3030 EXCELLENCE INNOVATION PEOPLE GROWTH STN TSX NYSE Thank You!