Â鶹´«Ã½

Stantec, a global leader in sustainable design and engineering, announced today that it has received approval from the Toronto Stock Exchange ( the ¡°TSX¡±) respecting the renewal of its Normal Course Issuer Bid (¡°NCIB¡±). Pursuant to the NCIB documentation filed with the TSX, Â鶹´«Ã½ may purchase up to 5,538,309 common shares, representing approximately 5% of Â鶹´«Ã½¡¯s 110,766,187 issued and outstanding common shares as of November 2, 2022. The purchases may commence on November 16, 2022 and will terminate no later than November 15, 2023.? Except for block purchases permitted under the rules and policies of the TSX, the number of shares to be purchased per day will not exceed 55,818 or approximately 25% of the average daily trading volume for the six full calendar months ending October 31, 2022, which is 223,273 shares. Â鶹´«Ã½ will make the purchases on the open market through the facilities of the TSX or any alternative Canadian trading system, and the prices that Â鶹´«Ã½ will pay for any common shares will be the market price of such shares at the time of acquisition. All shares purchased by Â鶹´«Ã½ will be cancelled.

The renewal of the NCIB follows on the conclusion of Â鶹´«Ã½¡¯s previous NCIB that expires November 15, 2022. From November 16, 2021 to November 11, 2022, Â鶹´«Ã½ purchased 1,085,676 common shares at a weighted average price of $60.16?per share.

Stantec also announced today that, in connection with its intention to implement the NCIB, Â鶹´«Ã½ has renewed its automatic share purchase plan (the ¡°ASPP¡±) with a designated broker to allow for the purchase of its common shares under the NCIB, once effective, at times when Â鶹´«Ã½ normally would not be active in the market due to applicable regulatory restrictions or internal trading black-out periods. Before the commencement of any particular internal trading black-out period, Â鶹´«Ã½ may, but is not required to, instruct its designated broker to make purchases of Â鶹´«Ã½¡¯s common shares under the NCIB during the ensuing black-out period in accordance with the terms of the ASPP. Such purchases will be determined by the broker in its sole discretion based on parameters established by Â鶹´«Ã½ prior to commencement of the applicable black-out period in accordance with the terms of the ASPP and applicable TSX rules. Outside of these black-out periods, common shares will be purchasable by Â鶹´«Ã½ at its discretion under its NCIB, once effective.

The ASPP will commence on the effective date of the NCIB 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) Â鶹´«Ã½ 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, Â鶹´«Ã½ believes at such times that its outstanding common shares may represent an attractive investment for Â鶹´«Ã½ and an appropriate and desirable use of its available funds. This capital deployment strategy is consistent with Â鶹´«Ã½¡¯s priority of maintaining balance sheet strength, while reinvesting in organic and acquisitive growth, paying down debt, and increasing dividends, all of which contribute to enhanced shareholder returns.

About Â鶹´«Ã½
Communities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Â鶹´«Ã½, we always design with community in mind.

We care about the communities we serve¡ªbecause they're our communities too. This allows us to assess what's needed and connect our Â鶹´«Ã½, to appreciate nuances and envision what's never been considered, to bring together diverse perspectives so we can collaborate toward a shared success.

We're designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe.

Stantec trades on the TSX and the NYSE under the symbol STN.?

For further information:

Investor Contact?
Jess Nieukerk?
Vice President, Investor Relations
Ph: (403) 569-5389
ir@stantec.com

Media Contact
Ashley Warnock
Â鶹´«Ã½ Media Relations
Ph: (403) 472-0122
ashley.warnock@stantec.com

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