Mr. Alain Michaud reports

WSP ANNOUNCES PRIVATE OFFERING OF $500 MILLION SENIOR UNSECURED NOTES

WSP Global Inc. has priced an offering of $500-million aggregate principal amount of 5.548 per cent senior unsecured notes due Nov. 22, 2030.

The notes are being offered through an agency syndicate consisting of CIBC Capital Markets, National Bank Financial Markets and RBC Capital Markets as joint bookrunners and co-lead private placement agents, and including BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., BNP Paribas (Canada) Securities Inc., Desjardins Securities Inc., J.P. Morgan Securities Canada Inc., HSBC Securities (Canada) Inc., Citigroup Global Markets Canada Inc., Raymond James Ltd. and Laurentian Bank Securities Inc. as co-managers. The offering is expected to close on or about Nov. 22, 2023, subject to customary closing conditions.

The notes will be issued for aggregate gross proceeds of $500-million and will bear interest at a fixed rate of 5.548 per cent per annum, payable semi-annually until maturity on May 22 and Nov. 22 in each year beginning on May 22, 2024.

The corporation intends to use the net proceeds of the offering to repay existing indebtedness and for other general corporate purposes.

The notes will be direct, senior unsecured obligations of WSP Global, will rank pari passu with all of the existing and future senior unsecured indebtedness of WSP Global, and will be issued pursuant to the trust indenture dated April 19, 2021, as supplemented by a second supplemental indenture to be dated the date of closing of the offering. The notes have been assigned a provisional rating of BBB (high), with a stable trend, by DBRS Ltd., and are being offered in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation.

About WSP Global Inc.

As one of the largest professional service firms in the world, WSP Global exists to future-proof its cities and the environment. It provides strategic advisory, engineering and design services to clients seeking sustainable solutions in the transportation, infrastructure, environment, building, energy, water and mining sectors. Its 67,000 trusted professionals are united by the common purpose of creating positive, long-lasting impacts on the communities the corporation serves through a culture of innovation, integrity and inclusion. In 2022, WSP Global reported $11.9-billion in revenue. The corporation's shares are listed on the Toronto Stock Exchange (WSP).

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