Investor Presentaiton

13 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).

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