Mr. Alain Michaud reports

WSP TO ACQUIRE 1A INGENIEROS, SIGNIFICANTLY GROWING ITS PRESENCE IN SPAIN AND IN THE POWER SECTOR

WSP Global Inc. has entered into an agreement to acquire 1A Ingenieros SL, a 250-employee Spanish consulting firm operating mainly in the power and energy sector. The acquisition is expected to be completed in the second quarter of 2024.

This transaction will enhance WSP's capabilities in Spain in the Power & Energy sector, creating a strong multidisciplinary business in the region with a balanced portfolio in the three core markets - Transportation & Infrastructure, Power & Energy, Property and Buildings, and presence in Earth and Environment. It will also increase WSP's local workforce by approximatively 70 % and expand its geographical presence in the country with the addition of four new regions: Castilla y Leon, Galicia, Castilla-La Mancha, and Extremadura. With a combined team of approximately 600 employees, WSP will become one of the leading international engineering firms in the country.

"This acquisition tracks our strategic ambitions to grow our offering in Central Europe and key sectors, and we are eager to welcome our new colleagues," said Alexandre L'Heureux, President and CEO of WSP. "Together with 1A Ingenieros, we will significantly increase our local presence and broaden our client base, creating new opportunities for WSP in Spain."

"We are thrilled to announce the proposed acquisition of 1A Ingenieros and look forward to leveraging the power of a unified team in Spain. With a deepened pool of expertise in the growing Power & Energy sector, including additional capabilities in transmission and distribution, we will be able to enhance our service offering and grow our business across the country," said Manuel Perez, Managing Director, WSP in Spain.

"We are eager to merge our local expertise with WSP's global reach, driving innovation and opening new opportunities for our people, to nurture their professional growth and pave the way for their future success," said Ricardo Fortuoso Martin, President of 1A Ingenieros.

ABOUT 1A INGENIEROS

1A Ingenieros is the leading engineering company in Castilla y Leon (Spain) that has been operating throughout the Iberian Peninsula for more than 25 years. The company has more than 250 professionals in five main delegations and carries out its activity in the areas of renewable energy, electricity distribution and transportation, sustainable mobility, the industrial sector, and the environment. 1A Ingenieros has a wide network of clients, among which important companies in the energy sector and industrial multinationals in the automotive sector stand out.

ABOUT WSP

As one of the largest professional services firms in the world, WSP exists to future-proof our cities and our 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 66,500 trusted professionals are united by the common purpose of creating positive, long-lasting impacts on the communities it serves through a culture of innovation, integrity, and inclusion. In 2023, WSP reported $14.4 B (CAD) in revenue. The Corporation's shares are listed on the Toronto Stock Exchange (TSX: WSP).

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