() STN Q1 2022 Earnings Presentation May 12, 2022 Q1 2022 Cautionary Statement This presentation contains non-IFRS and other financial measures and forward-looking statements, including a discussion of our business targets, expectations, and outlook. 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. Non-IFRS and other financial measures do not have a st ...

Stantec Inc. (NYSE:STN) Q1 2022 Earnings Conference Call May 12, 2022 9:00 AM ET Company Participants Gord Johnston – President and Chief Executive Officer Theresa Jang – Executive Vice President and Chief Financial Officer Conference Call Participants Jacob Bout – CIBC Frederic Bastien – Raymond James Devin Dodge – BMO Capital Markets Benoit Poirier – Desjardins Securities Chris Goolgasian – Wellington Blog Michael Tumpholme – TD Securities Sabahat Khan – RBC Capital Markets Ian Gillies – Stifel Maxim Sytc ...

Exhibit 99.2 - Stantec Inc.'s Unaudited Interim Condensed Consolidated Financial Statements Interim Condensed Consolidated Statements of Financial Position (Unaudited) | | | March 31, 2022 | December 31, 2021 | | --- | --- | --- | --- | | (In millions of Canadian dollars) | Notes | $ | $ | | ASSETS | | | | | Current | | | | | Cash and deposits | | 192.2 | 193.9 | | Trade and other receivables | 4 | 836.7 | 823.7 | | Unbilled receivables | | 479.6 | 421.7 | | Contract assets | | 71.3 | 70.2 | | Income taxes ...

() -STN Q4 2021 Earnings Presentation February 24, 2022 Q4 2021 Cautionary Statement | --- | |-----------------------------------------------| | | | This presentation contains non -IFRS and | | other financial measures and forward -looking | | statements, including a discussion of our | | business targets, expectations, and outlook. | | 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 materiall ...

Financial Data and Key Metrics Changes - For Q4 2021, the company reported EPS of $0.15 compared to $0.13 last year, and adjusted EPS of $0.57 compared with $0.60 last year [17] - Full year net revenue was $3.6 billion, a 2.6% increase on a constant currency basis, driven by acquisition growth of 3.9% [19] - Adjusted EBITDA margin increased to a record 15.8% for the full year [19][20] - The company built its backlog to a record $5.1 billion, representing a 17% increase from 2020 [7] Business Line Data and Key Metrics Changes - The U.S. business delivered net revenue of $440 million in Q4 and $1.8 billion for 2021, with a backlog achieving 10% organic growth [8] - The Canadian business delivered $260 million in net revenue for Q4 and $1.1 billion for the year, generally consistent with last year [10] - The Global business performed well with $216 million in net revenue in Q4, a 39% increase compared to the same period last year [12] Market Data and Key Metrics Changes - The U.S. Environmental Services business recorded more than 50% organic backlog growth [8] - The UK government has committed over £130 billion to the national infrastructure strategy, which is expected to lead to additional transportation projects [13] - Global backlog increased over 19% during the year to a new record level [13] Company Strategy and Development Direction - The company aims to capitalize on infrastructure stimulus spending, particularly directed towards disadvantaged communities [24][25] - Investments are being made in domestic manufacturing capabilities for essential products, including vaccines and semiconductor facilities [26][27] - The company is focused on improving infrastructure resilience in response to extreme weather events [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the U.S. business's performance in 2022, supported by significant infrastructure stimulus and economic expansion [8] - The company expects net revenue growth in the range of 18% to 22% for 2022, with organic growth in the U.S. expected to be in the high single digits [32] - Management highlighted the importance of attracting and retaining talent to capitalize on future opportunities [30] Other Important Information - The company deployed $703 million to fund acquisitions and returned $123 million to shareholders through dividends and share repurchases [22] - The Board of Directors increased the annualized dividend by 9.1% for 2022, marking the ninth consecutive year of dividend increases [22] Q&A Session Summary Question: What are the moving parts in the 2022 EBITDA margin guidance? - Management discussed the expected increase in SG&A due to reopening and higher labor costs, offset by improved project margins and reduced real estate footprint [38][39] Question: What is the biggest risk in achieving the 2023 targets? - Labor shortages and the complexity of integrating the Cardno acquisition were identified as potential risks [40] Question: How is the company addressing the Russia-Ukraine conflict? - The company had minimal exposure in Ukraine and withdrew personnel from ongoing projects as tensions escalated [42] Question: What is the vision for Cardno's margin profile over the next 2-3 years? - Management expects Cardno's margin profile to be consistent with Stantec's and to improve over time [48] Question: What is the M&A strategy moving forward? - The focus is on ensuring smooth integration of Cardno while actively looking for potential acquisitions in various geographies [49] Question: What are the expectations for utilization in 2022? - Utilization is expected to be lower in Q1 but improve significantly in the second half of the year [62][64] Question: How does the company view the impact of rate hikes on the business? - Discussions with clients have shown more sensitivity to inflation in supplies rather than rate hikes [96]

[2021 Performance Highlights](index=1&type=section&id=2021%20Performance%20Highlights) Stantec achieved record earnings in 2021, reporting a record **adjusted diluted EPS of $2.42** and a **backlog of $5.1 billion**, driven by acquisitions and strong regional performance Full-Year 2021 Key Financial Metrics | Metric | 2021 Value | Change vs 2020 | | :--- | :--- | :--- | | Net Revenue | $3.6 billion | +2.6% (constant currency) | | Adjusted EBITDA Margin | 15.8% | +10 bps | | Diluted EPS | $1.80 | +26.8% | | Adjusted Diluted EPS | $2.42 | +9.0% | | Contract Backlog | $5.1 billion | +17.3% | - Strategic acquisitions, including Cardno, expanded Stantec's presence in key areas like environmental services and the energy transition, particularly in the US and Australia[4](index=4&type=chunk) - The Board of Directors declared an increased quarterly dividend of **$0.18 per share**, representing a **9.1% increase** on an annual basis[9](index=9&type=chunk) - The 2023 Real Estate Strategy is on track to reduce Stantec's real estate footprint by **30%** relative to 2019, contributing over **$0.18 per share** in savings to 2021 net income[5](index=5&type=chunk)[6](index=6&type=chunk) [2022 Outlook](index=2&type=section&id=2022%20Outlook) Stantec forecasts significant 2022 growth, expecting **net revenue growth of 18% to 22%** and **adjusted diluted EPS growth of 22% to 26%**, driven by a robust macroeconomic environment and record backlog 2022 Annual Targets | Target | 2022 Annual Range | | :--- | :--- | | Net revenue growth | 18% to 22% | | Adjusted EBITDA as % of net revenue | 15.3% to 16.3% | | Adjusted net income as % of net revenue | At or above 7.5% | | Growth in adjusted diluted EPS | 22% to 26% | | Net debt to adjusted EBITDA | 1.0x to 2.0x | - Organic net revenue growth is expected to be in the **mid to high single digits**, with **high single-digit growth in the US**, **low single-digit growth in Canada**, and **high single to low double-digit growth in the Global segment**[10](index=10&type=chunk) - The 2023 Real Estate Strategy is expected to contribute an additional **$0.20 to $0.25 per share** in savings by the end of 2023, split evenly between 2022 and 2023[12](index=12&type=chunk) [Detailed Financial Review](index=1&type=section&id=Detailed%20Financial%20Review) This section details Stantec's financial performance for Q4 and full-year 2021, covering highlights, summary tables, segment revenue, and backlog analysis [Full-Year 2021 Financial Highlights](index=1&type=section&id=Full-Year%202021%20Financial%20Highlights) Full-year 2021 net revenue reached **$3.6 billion** with **2.6% constant currency growth**, while net income increased **26.1% to $200.7 million** and adjusted net income grew **8.4% to $269.9 million** Full-Year 2021 vs 2020 Performance (in millions CAD, except EPS) | Metric | 2021 | 2020 | | :--- | :--- | :--- | | Net Revenue | $3,636.1 million | $3,684.5 million | | Project Margin | $1,963.3 million (54.0%) | $1,930.5 million (52.4%) | | Adjusted EBITDA | $573.8 million (15.8%) | $578.9 million (15.7%) | | Net Income | $200.7 million | $159.1 million | | Adjusted Net Income | $269.9 million | $248.9 million | | Adjusted Diluted EPS | $2.42 | $2.22 | - The strengthening Canadian dollar against the US dollar reduced 2021 net revenues by **$130.7 million** and adjusted diluted EPS by approximately **$0.06 per share**[5](index=5&type=chunk) - Contract backlog increased **17.3%** to a record **$5.1 billion**, representing approximately **13 months of work**; organic backlog growth was **6.7%**, with US Environmental Services backlog growing over **50%**[9](index=9&type=chunk) [Fourth Quarter 2021 Financial Highlights](index=3&type=section&id=Fourth%20Quarter%202021%20Financial%20Highlights) Q4 2021 net revenue grew **8.7%** on a constant currency basis, but adjusted net income decreased **4.8% to $63.8 million** and adjusted diluted EPS fell to **$0.57**, mainly due to increased share-based compensation Q4 2021 vs Q4 2020 Performance (in millions CAD, except EPS) | Metric | Q4 2021 | Q4 2020 | | :--- | :--- | :--- | | Net Revenue | $916.2 million | $861.7 million | | Project Margin | $506.6 million (55.3%) | $455.0 million (52.8%) | | Adjusted EBITDA | $142.1 million (15.5%) | $138.5 million (16.1%) | | Net Income | $16.6 million | $14.9 million | | Adjusted Net Income | $63.8 million | $67.0 million | | Adjusted Diluted EPS | $0.57 | $0.60 | - Excluding the descoped Trans Mountain Expansion Project (TMEP), organic growth in Q4 would have been **4.2%**[14](index=14&type=chunk) - The decrease in adjusted EBITDA margin and adjusted net income was partly driven by a **$13.4 million increase** in share-based compensation expense[14](index=14&type=chunk) [Financial Summary Tables](index=4&type=section&id=Q4%20and%20Full-year%202021%20Financial%20Summary) This section provides a detailed consolidated financial summary for Q4 and full-year 2021, comparing key revenue, margin, expense, and earnings per share metrics against 2020 Q4 and Full-Year 2021 Financial Summary (in millions CAD, except per share) | | Q4 2021 | Q4 2020 | FY 2021 | FY 2020 | | :--- | :--- | :--- | :--- | :--- | | Net revenue | 916.2 | 861.7 | 3,636.1 | 3,684.5 | | Project margin | 506.6 | 455.0 | 1,963.3 | 1,930.5 | | Net income from continuing operations | 16.6 | 14.9 | 200.7 | 159.1 | | Adjusted EBITDA from continuing operations | 142.1 | 138.5 | 573.8 | 578.9 | | Adjusted net income from continuing operations | 63.8 | 67.0 | 269.9 | 248.9 | | Adjusted diluted EPS from continuing operations | 0.57 | 0.60 | 2.42 | 2.22 | [Net Revenue by Reportable Segment](index=4&type=section&id=Net%20Revenue%20by%20Reportable%20Segment) In 2021, the Global segment drove organic growth at **8.9%** for the full year and **23.8%** in Q4, while US and Canada segments experienced organic retractions in Q4 Full-Year 2021 Net Revenue by Segment (in millions CAD) | Segment | 2021 Net Revenue | % Organic Growth | | :--- | :--- | :--- | | Canada | 1,068.5 | (0.8)% | | United States | 1,799.5 | (5.0)% | | Global | 768.1 | 8.9% | Q4 2021 Net Revenue by Segment (in millions CAD) | Segment | Q4 2021 Net Revenue | % Organic Growth | | :--- | :--- | :--- | | Canada | 260.0 | (2.5)% | | United States | 440.2 | (3.0)% | | Global | 216.0 | 23.8% | [Backlog Analysis](index=5&type=section&id=Backlog) Stantec's total backlog reached a record **$5.13 billion** by year-end 2021, increasing **17.3%** with **6.7% organic growth**, notably **10.2%** in the United States segment Backlog by Segment as of Dec 31 (in millions CAD) | Segment | 2021 Backlog | 2020 Backlog | % Organic Growth | | :--- | :--- | :--- | :--- | | Canada | 1,169.1 | 1,134.3 | 3.1% | | United States | 3,016.9 | 2,449.2 | 10.2% | | Global | 948.3 | 793.6 | 1.4% | | **Total** | **5,134.3** | **4,377.1** | **6.7%** | [Shareholder and Other Information](index=5&type=section&id=Shareholder%20and%20Other%20Information) This section provides shareholder details, including conference call information, and important disclosures on non-IFRS financial measures and forward-looking statements, with reconciliation tables [Conference Call Information](index=5&type=section&id=Tomorrow%27s%20Conference%20Call) Stantec scheduled a conference call for February 24, 2022, at 9:00 AM Eastern Time, for management to discuss Q4 and full-year 2021 results with the investment community - President and CEO Gord Johnston and CFO Theresa Jang will host a conference call on February 24, 2022, at **7:00 AM Mountain Time (9:00 AM Eastern Time)** to discuss Q4 performance[20](index=20&type=chunk) [Cautionary Statements and Non-IFRS Measures](index=6&type=section&id=Cautionary%20Statements) The report utilizes non-IFRS financial measures and includes forward-looking statements regarding the 2022 outlook and strategic goals, which are subject to inherent risks and uncertainties - The company uses non-IFRS measures like adjusted EBITDA, adjusted net income, and organic growth to provide useful information to investors; these measures do not have a standardized meaning under IFRS[23](index=23&type=chunk)[24](index=24&type=chunk) - Forward-looking statements regarding the 2022 outlook are subject to risks, including economic downturns, project cancellations, and failure of US infrastructure stimulus to materialize[25](index=25&type=chunk)[26](index=26&type=chunk) [Reconciliation of Non-IFRS Financial Measures](index=7&type=section&id=Reconciliation%20of%20Non-IFRS%20Financial%20Measures) This section provides detailed tables reconciling IFRS net income to non-IFRS measures like adjusted EBITDA and adjusted net income for Q4 and full-year 2021 and 2020, including various adjustments Reconciliation of Net Income to Adjusted EBITDA (in millions CAD) | | Q4 2021 | Q4 2020 | FY 2021 | FY 2020 | | :--- | :--- | :--- | :--- | :--- | | Net income from continuing operations | 16.6 | 14.9 | 200.7 | 159.1 | | Adjustments (Taxes, Interest, D&A, etc.) | 125.5 | 123.6 | 373.1 | 419.8 | | **Adjusted EBITDA from continuing operations** | **142.1** | **138.5** | **573.8** | **578.9** | Reconciliation of Net Income to Adjusted Net Income (in millions CAD) | | Q4 2021 | Q4 2020 | FY 2021 | FY 2020 | | :--- | :--- | :--- | :--- | :--- | | Net income from continuing operations | 16.6 | 14.9 | 200.7 | 159.1 | | After-tax adjustments | 47.2 | 52.1 | 69.2 | 89.8 | | **Adjusted net income from continuing operations** | **63.8** | **67.0** | **269.9** | **248.9** |

Stantec Inc. (NYSE:STN) Q3 2021 Results Conference Call November 4, 2021 9:00 AM ET Company Participants Gord Johnston - President and CEO Theresa Jang - EVP and CFO Conference Call Participants Frederic Bastien - Raymond James Yuri Lynk - Canaccord Genuity Jacob Bout - CIBC Michael Tupholme - TD Securities Chris Murray - ATB Capital Markets Benoit Poirier - Desjardins Capital Markets Sabahat Khan - RBC Capital Markets Maxim Sytchev - National Bank Financial Ian Gillies - Stifel Troy Sun - Laurentian Bank S ...

() - STN Q2 2021 Earnings Presentation August 5 Q2 2021 Cautionary Statement | --- | |-----------------------------------------------| | | | This presentation contains non-IFRS | | measures and forward-looking statements, | | including a discussion of our business | | targets, expectations, and outlook. | | 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 exp ...

Stantec's (NYSE:STN) Q2 2021 Earnings Conference Call August 5, 2021 9:00 AM ET Company Participants Gord Johnston - President & Chief Executive Officer Theresa Jang - Executive Vice President & Chief Financial Officer Conference Call Participants Benoit Poirier - Desjardins Capital Markets Michael Tupholme - TD Securities Jacob Bout - CIBC Chris Murray - ATB Cap Markets Sabahat Khan - RBC Capital Markets Ian Gillies - Stifel Maxim Sytchev - National Bank Financial Bryan Fast - Raymond James. Troy Sun - Lau ...

Stantec Inc. (NYSE:STN) Q1 2021 Earnings Conference Call May 6, 2021 9:00 AM ET Company Participants Gord Johnston – President and Chief Executive Officer Theresa Jang – Executive Vice President and Chief Financial Officer Conference Call Participants Benoit Poirier – Desjardins Bank Yuri Lynk – Canaccord Sabahat Khan – RBC Capital Markets Jacob Bout – CIBC Frederic Bastien – Raymond James Chris Murray – ATB Capital Markets Michael Tupholme – TD Securities Operator Welcome to Stantec's First Quarter 2021 Ea ...