Q1 2017 Earnings Conference CallThursday May 11, 2017

Cautionary Statement

Our public communications will contain non-IFRS measures and written or verbal forward-looking statements, including a discussion of our goals and our growth strategies.

We caution readers not to place undue reliance on our forward-looking statements since a number of factors could cause actual future results to differ materially from the targets and expectations expressed.

For a discussion of risk factors and non-IFRS measures, see our 2016 Annual Report and Q1 17 MD&A which are available on SEDAR, EDGAR, and stantec.com.

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AGENDA

Bob GomesHighlights

Dan LefaivreSummary of Financial Results

Bob GomesOperational HighlightsOutlook

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Q1 2017 HIGHLIGHTS

69.0%Gross revenue increase

in Q1 17 vs. Q1 16

US $270MFor the sale of Innovyze

-2.4%Organic revenue

retraction decreasing

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millions (C$)

Q1

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Q1 17 Q1 16 Q1 17 vs. Q1 16 (1)

Gross revenue $1,276.3 $755.4 69.0%

Gross margin (2) 54.1% 53.9% 39.3%

EBITDA (3) $89.8 $66.5 35.0%

Administrative and marketing expenses (2) 43.6% 43.2% 40.1%

Net (loss) income $(58.0) $30.6 n/m

Adjusted net income (3) $45.8 $37.6 21.8%

Adjusted EPS (diluted) (3) $0.40 $0.40 -

Q1 17 FINANCIAL RESULTS

In millions of Canadian dollars except for share amounts and percentages

(1) Percent increase (decrease) calculated based on the dollar change from the comparable period. (2) As a % of net revenue(3) Non-IFRS measure defined in our 2016 Annual Report and Q1 17 Management’s Discussion and Analysis.

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(In millions of Canadian dollars except per share amounts)

Q1 17 Q2 17 Pro Forma

YTDPro Forma

Gross proceedsWorking capital adjustments and transaction costs

--

359(31)

359(31)

Net proceeds from saleNet assets on close

--

328(275)

328(275)

Pre-tax gain on disposal - 53 53

Estimated Impact on Taxes, Net Income, and EPSCurrent taxes payableDeferred taxes previously recorded on Innovyze net assetsDeferred taxes recorded on held for sale classification

--

(90)

(136)2690

(136)26-

Income taxes expense (90) (20) (110)

Impact on net income (90) 33 (57)

Impact on EPS - basic (0.79) 0.29 (0.50)

Impact on EPS - diluted (0.79) 0.29 (0.50)

ESTIMATED IMPACT OF INNOVYZE TRANSACTION

This table includes estimates that may be different from the actual future results due to various assumptions including those related to foreign exchange, number of weighted average shares, estimated working capital and indebtedness of Innovyze, and estimated transaction costs that are contingent on the net proceeds. (See the Caution Regarding Forward-Looking Statements on slide 2 of this presentation).

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Measure 2017 Target Range Q1 17 Results

Gross margin as a % of net revenue Between 53% and 55% 54.1%

Administrative and marketing expenses as a % of net revenue Between 41% and 43% 43.6%

EBITDA* as a % of net revenue Between 11% and 13% 10.3%

Net (loss) income as a % of net revenue At or above 5%

(6.6%)3.7% without deferred

tax on Innovyze sale

2017 TARGETS

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*Non-IFRS measure defined in Q1 17 Management’s Discussion and Analysis

Cash dividends declared per common share $0.1250

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• Organic gross revenue grew 2.3% quarter over quarter

• Strong organic growth in US Transportation sector

• Organic gross revenue grew 2.2% quarter over quarter

• Positive momentum in United States and Canada water markets

*Percent of Q1 17 consulting services gross revenue

11*Percent of Q1 17 consulting services gross revenue

• Organic gross revenue retracted 6.8% in Q1 17 vs. Q1 16

• Key project wins in Canada and United States will contribute to increased revenue in 2017

• Organic gross revenue retracted 13.2% in Q1 17 compared to Q1 16

• Oil & Gas sector within energy & resources and environmental services represents 6% of overall gross revenue

• Reduced level of retraction in Q1 17

• Stable organic growth

• Increased activity, continuing to win small projects in North America

Innovyze sold May 5th for US $270 million

Sale allows both companies

to prosper

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INNOVYZE SALE

Reduces debtFor future growth

opportunities

Integration of North American consulting

staff on track forQ2 2017

All brandingtransition expected

in 2018

Global integration underway

MWH INTEGRATION

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Overall Canada US Global

Long-term target of 15% gross revenue CAGR

Continued acquisition strategy

Strong backlog and client relationships

Federal infrastructure spending

Transit,water and wastewater

Continued weakness in mining andoil and gas

Residential construction

Expanding economy

Infrastructure spending

Water and wastewater

Transportation

United Kingdom

New Zealandand Australia

Europe

Latin America

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2017 OUTLOOK

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Royal Columbian Hospital Redevelopment Project (British Columbia, Canada)

Redevelopment of two mine sites(Manitoba, Canada)

Metro Line Light-Rail Transit Expansion(Alberta, Canada)

Nassau Expressway Resiliency and Operations Improvement Design-Build Project(New York, United States)

Cedar Ridge Reservoir Environmental Impact Statement(Texas, United States)

City Water Tunnel No. 3(New York, United States)

Central Puget Sound Regional Transit Design-Build Services for Operations & Maintenance Satellite Facility (Washington, United States)

PROJECT BACKLOG

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2016 Sustainability Report Now available on stantec.com

Q&A

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