SNC-Lavalin: An Overview ›Investor Presentation

›May 2020

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Operating Cash

Flows

$336 million, highest quarterly

operating cash flow since

Q4 2017​

Adjusted Net

Income from E&C

$78.9 million, up from a loss of $284.1

year-over-year​

Cash Balance

Increased

87% year-over-year, net recourse debt to EBITDA

ratio now 2.1x

SNCL Projects ​

SNCL Projects

Segment EBIT of

-$28M, performance

better than the past

four quarters

Forward-looking statements

Reference in this presentation, and hereafter, to the “Company” or to “SNC-Lavalin” means, as the context may require, SNC-Lavalin Group Inc. and all or some of its

subsidiaries or joint arrangements, or SNC-Lavalin Group Inc. or one or more of its subsidiaries or joint arrangements.

Statements made in this presentation that describe the Company’s or management’s budgets, estimates, expectations, forecasts, objectives, predictions, projections of the

future or strategies may be “forward-looking statements”, which can be identified by the use of the conditional or forward-looking terminology such as “aims”, “anticipates”,

“assumes”, “believes”, “cost savings”, “estimates”, “expects”, “goal”, “intends”, “may”, “plans”, “projects”, “should”, “synergies”, “target”, “vision”, “will”, or the negative thereof

or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. Forward-looking statements also include

statements relating to the following: (i) future capital expenditures, revenues, expenses, earnings, economic performance, indebtedness, financial condition, losses and

future prospects; (ii) business and management strategies and the expansion and growth of the Company’s operations; and (iii) the expected impacts of the COVID-19

pandemic on the business and its operating and reportable segments. All such forward-looking statements are made pursuant to the “safe-harbour” provisions of applicable

Canadian securities laws. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions and/or results

could differ materially from those expressed or implied in such forward-looking statements, or could affect the extent to which a particular projection materializes. Forward-

looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company’s current objectives, strategic

priorities, expectations and plans, and in obtaining a better understanding of the Company’s business and anticipated operating environment. Readers are cautioned that

such information may not be appropriate for other purposes.

Forward-looking statements made in this presentation are based on a number of assumptions believed by the Company to be reasonable as at the date hereof. The

assumptions are set out throughout the Company’s annual 2019 Management Discussion and Analysis (MD&A) and as updated in the first quarter 2020 MD&A. If these

assumptions are inaccurate, the Company’s actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important

risk factors could cause the Company’s assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by

these forward-looking statements. These risk factors are set out in the Company’s 2019 annual MD&A and as updated in the first quarter 2020 MD&A.

SNC-Lavalin: shaping & delivering world-leading concepts & projects

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Founded in

1911

Employees

~47,000

Revenue

~$9.5B

Listed on TSX

“SNC” Since 1986

Investment Grade Credit Rating1

BBB- & BB+

A global leader in professional services & project management

4 1 Per DBRS and S&P.

SNC-Lavalin is…

A fully integrated professional services and

project management company with offices

around the world.

SNC-Lavalin connects people, technology and

data to help shape and deliver world-leading

concepts and projects, while offering

comprehensive innovative solutions across the

asset lifecycle in four strategic sectors.

Operating in 4 regions across the world

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Americas

~15,000

Europe

~13,000

Asia

Pacific

~5,000

Middle

East

& Africa

~14,000

Providing a comprehensive end-to-end service offering …

6

DecommissioningConsulting

& Advisory

Procurement Project & Construction

Management

Operations

& Maintenance

Design

& Engineering

Sustaining CapitalIntelligent networks

& cybersecurity

…in four sectors of activity

Engineering, Design and

Project Management (EDPM)

Infrastructure Nuclear Resources Capital

Supported by:

17%

8%

48%

1%

9%

17%

41%

10% 12%

3%

23%

11%

With a breath of geographic and industry exposure

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51%

22%

5%

22%

2019

Revenue

$9.5B

Geographic areas Industry segments

2019

Revenue

$9.5B

Dec. 31, 2019

Backlog

$15.3B

Industry segments

Americas

Europe

Asia Pacific

Middle East &

Africa Canada 30% USA 19%

Latin America 2%

EDPM

Nuclear1Infrastructure

Services

Capital

Resources

Infrastructure EPC

Projects Infrastructure EPC

Projects

Resources

Capital

Infrastructure

Services2

Nuclear

EDPM

1 36% of Nuclear revenues are from final decommissioning, waste management and environmental clean-up

2 The Infrastructure Services backlog includes the full term of the Company’s O&M signed long-term contracts, which can

cover a period up to 40 years.

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Strategy

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Goals of New Strategic Direction:

› Simplified business

› Reduced risk

› Focus on strengths

› Generate consistent earnings and cash flow

Exit LSTK construction work

Reorganize the Company

Restructure Resources segment

Grow

Engineering

Services

New strategic direction

Positioning SNC-Lavalin for long-term sustainable success

(1)

(1) LSTK: Lump-sum turnkey

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“The volatility and unreasonable risk

associated with lump-sum, turnkey

projects have been the root cause of the

Company’s past performance issues.”

- Ian L. Edwards

› The current LSTK contracting model within the industry is broken as it places undue risk on the company

› Many of SNC-Lavalin’s industry peers have also exited LSTK

› By exiting this contracting model and running off the LSTK project backlog as efficiently as possible, SNC-Lavalin will

be able to significantly reduce risk while optimizing free

cash flow generation from the higher performance parts of

the business

› The world is moving to a digitized, technology environment. Given our innovative solutions, SNC-Lavalin

is well positioned to capture the benefits of this change.

Why exit the LSTK model?

Expected phase out of the main Lump-Sum Turnkey Construction projects in

SNCL Projects backlog

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* The Husky White Rose project is not included in the graph as the project completion was suspended by the client in March 2020

0

200

400

600

800

1,000

1,200

2020 (last 9 months)

2021 2022 2023 2024

LS TK

B ac

kl o

g (i

n $

m ill

io n

s)

Expected Annual Conversion to Revenue

LSTK Backlog Phasing*

Infrastructure EPC Projects

Resources

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Reorganized the Company into two clear businesses

SNCL Engineering Services (growth & future)

Infrastructure

Services EDPM Nuclear Capital

2 Business

lines

› Infrastructure LSTK projects run off

› Resources LSTK projects run off

› Resources Engineering Services (exploring a combination of closures and divestitures and

potential transition to services-based

business)

SNCL Projects (controlled exit)

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›De-risking and Optimizing the Business

1. Running off existing Resources

LSTK backlog

2. Exploring all options for Resources,

particularly Oil & Gas

3. Right-sizing and assessing a transition

to services

Restructuring Resources segment

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SNCL Engineering Services:

Future growth opportunities

SN