Stantec Signs Letter of Intent to Acquire Occam Engineers Inc.

Firm enhances water, transportation, and public works services in
Southwest

EDMONTON, Alberta & NEW YORK–(BUSINESS WIRE)–TSX, NYSE: STN

Global design firm Stantec is strengthening its water, transportation,
and public works service in the Southwestern United States with the
planned acquisition of New Mexico-based consulting engineering firm,
Occam Engineers Inc. (OEI). The transaction is expected to close in
March.

With established service to both local and regional clients, OEI
specializes in the professional service areas of civil engineering,
public works, transportation, development engineering, planning and
feasibility, program management, water resources and value analysis. The
55-person firm is headquartered in Albuquerque, with offices throughout
New Mexico in Santa Fe, Roswell, Artesia, Las Cruces, Silver City, and
Tucumcari. OEI also has an office in Houston, Texas.

“OEI brings a long-held focus on integrity, excellence, and
collaboration, and we are thrilled to welcome their talented team
members to our growing company community,” said John Take, Stantec
senior vice president, Water. “OEI’s strong client relationships in both
the water and transportation markets will help us as we continually
expand both the depth and breadth of our professional services across
the Southwest US.”

OEI is the result of the merger of firms Engineers, Inc., Occam
Consulting Engineers, Inc., and Easterling Consultants, LLC. The firm
supports a variety of prominent clients to solve complex infrastructure
challenges. Among the firm’s notable projects, OEI teamed with Stantec
to support Santa Fe County in the negotiations of an Operating Agreement
for the Pojoaque Basin Regional Supply System. The project consists of
surface water diversion facilities on the Rio Grande, along with
treatment, transmission, storage, and distribution facilities, which
will ultimately supply up to 4,000 acre-feet of water annually to local
and regional water users. OEI also led the reconstruction of a rural and
isolated area of US 54 near Tularosa, New Mexico, for the New Mexico
Department of Transportation. The project aims to improve safety along
the corridor, with OEI spearheading the redesign of a bridge and an
increase in driving and passing lanes. Additionally, the firm provides
data collection and monitoring assistance for a large-scale groundwater
remediation project in Albuquerque to successfully treat 185 million
gallons of contaminated groundwater annually, returning safe water to
the aquifer facility with zero safety-related incidents.

“This is a tremendous opportunity to pursue large-scale public works
projects not only in New Mexico, but across all of the Colorado River
Basin states, while providing our existing clients an expanded array of
capabilities drawn from the larger Stantec network,” says Scott
Verhines, P.E., OEI president. “Stantec’s technical expertise, coupled
with our strong relationships in both transportation and water, provide
our employees exciting avenues to pursue meaningful projects advancing
the quality of life in communities across the region.”

From its base of more than 22,000 team members worldwide, Stantec
currently has more than 9,000 US employees, with more than 1,100
employees in the Southwest US.

About Stantec
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 Stantec, we always design with
community in mind.

We care about the communities we serve—because they’re our communities
too. 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. Visit us at stantec.com
or find us on social media.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements. By their nature,
forward-looking statements require us to make assumptions and are
subject to inherent risks and uncertainties. There is a significant risk
that a number of factors could cause actual future results to differ
materially from the forward-looking statements made in this news
release. These factors include, but are not limited to, the risk that
the proposed transaction does not close when expected or at all or that
the anticipated benefits of the transaction are not realized.

Contacts

Stantec
Media Contact
Ryan Lamont, (213) 955-3528
[email protected]
Stantec
Media Relations
or
Investor Contact
Sonia Kirby,
(780) 616-2785
[email protected]
Stantec
Investor Relations
or
OEI Contact
Scott Verhines,
P.E., (505) 275-0022
President
[email protected]