Mr. Danny Craig reports

STANTEC ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID AND AUTOMATIC SHARE PURCHASE PLAN

Stantec Inc. has received approval from the Toronto Stock Exchange regarding the renewal of its normal course issuer bid (NCIB). Pursuant to the NCIB documentation filed with the TSX, Stantec may purchase up to 2,281,339 common shares of Stantec, representing approximately 2 per cent of Stantec's 114,066,995 issued and outstanding common shares as of March 2, 2026. The purchases may commence on March 12, 2026, and will terminate no later than March 11, 2027. Except for block purchases permitted under the rules and policies of the TSX, the number of common shares to be purchased per day will not exceed 96,076, or approximately 25 per cent of the average daily trading volume for the six full calendar months ended Feb. 28, 2026, which is 384,306 common shares. Stantec will make the purchases on the open market through the facilities of the TSX or any alternative Canadian trading system, and the prices that Stantec will pay for any common shares will be the market price of such shares at the time of acquisition. All common shares purchased by Stantec will be cancelled. The renewal of the NCIB follows on the conclusion of Stantec's previous NCIB that expired Dec. 12, 2025, in which no shares were repurchased.

Stantec also announced today that, in connection with its intention to implement the NCIB, Stantec has renewed its automatic share purchase plan (ASPP) with a designated broker to allow for the purchase of its common shares under the NCIB, once effective, at times when Stantec normally would not be active in the market due to applicable regulatory restrictions or internal trading blackout periods. Before the commencement of any particular internal trading blackout period, Stantec may, but is not required to, instruct its designated broker to make purchases of Stantec's common shares under the NCIB during the ensuing blackout 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 Stantec prior to commencement of the applicable blackout period in accordance with the terms of the ASPP and applicable TSX rules. Outside of these blackout periods, common shares will be purchasable by Stantec 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) Stantec 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, Stantec believes that, at such times, its outstanding common shares may represent an attractive investment for Stantec and an appropriate and desirable use of its available funds. This capital deployment strategy is consistent with Stantec'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 Stantec Inc.

Stantec empowers clients, people and communities to rise to the world's greatest challenges at a time when the world faces more unprecedented concerns than ever before.

Stantec is a global leader in sustainable engineering, architecture and environmental consulting. Stantec's professionals deliver the expertise, technology and innovation communities need to manage aging infrastructure, demographic and population changes, the energy transition, and more.

Today's communities transcend geographic borders. At Stantec, community means everyone with an interest in the work that the company does -- from its project teams and industry colleagues to Stantec's clients and the people the company's work impacts. The diverse perspectives of Stantec's partners and interested parties drive the company to think beyond what has previously been done on critical issues such as climate change, digital transformation, and future-proofing cities and infrastructure.

Stantec's staff are designers, engineers, scientists, project managers and strategic advisors. The company innovates at the intersection of community, creativity and client relationships to advance communities everywhere so that, together, they can redefine what is possible.

Stantec trades on the TSX and the New York Stock Exchange under the symbol STN.

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