Investor Presentation - April 2018 FINAL · Statements made in this presentation that describe the Company’s or management’s budgets, ... helping our clients to plan, ... Marketing

›Investor Presentation›June 2018

Forward-looking statementsReference 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 ofits 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 suchas “aims”, “anticipates”, “assumes”, “believes”, “cost savings”, “estimates”, “expects”, “goal”, “intends”, “may”, “plans”, “projects”, “target”, “should”, “synergies”,“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; and (ii) business and management strategies and the expansion and growth of the Company’soperations. All such forward-looking statements are made pursuant to the “safe-harbour” provisions of applicable Canadian securities laws. The Company cautionsthat, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions and/or results could differ materially from thoseexpressed or implied in such forward-looking statements, or could affect the extent to which a particular projection materializes. Forward-looking statements arepresented 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 thatsuch 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 2017 Management Discussion and Analysis (MD&A) and as updated in the first quarter 2018 MD&A. The2018 outlook also assumes that the federal charges laid against the Company and its indirect subsidiaries SNC-Lavalin International Inc. and SNC-LavalinConstruction Inc. on February 19, 2015, will not have a significant adverse impact on the Company’s business in 2018. If these assumptions are inaccurate, theCompany’s actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important risk factors could causethe 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 2017 MD&A and as updated in the first quarter 2018 MD&A.

The 2018 outlook referred to in this presentation is forward-looking information and is based on the methodology described in the Company’s 2017 MD&A underthe heading “How We Budget and Forecast Our Results” and is subject to the risks and uncertainties described in the Company’s public disclosure documents. Thepurpose of the 2018 outlook is to provide the reader with an indication of management’s expectations, at the date of this presentation, regarding the Company’sfuture financial performance and readers are cautioned that this information may not be appropriate for other purposes.

Non-IFRS financial measures and additional IFRS measuresThe Company reports its financial results in accordance with IFRS. However, the following non-IFRS measures and additional IFRS measures are used by theCompany: Adjusted net income from E&C, Adjusted diluted EPS from E&C, Adjusted net income from Capital, Adjusted diluted EPS from Capital, Adjustedconsolidated diluted EPS, EBITDA, Adjusted E&C EBITDA, Segment EBIT and Revenue backlog. Additional details for these non-IFRS measures and additionalmeasures can be found below and in SNC-Lavalin’s MD&A, which is available in the Investors section of the Company’s website at www.snclavalin.com. Non-IFRSfinancial measures do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers.Management believes that, in addition to conventional measures prepared in accordance with IFRS, these non-IFRS measures provide additional insight into theCompany’s financial results and certain investors may use this information to evaluate the Company’s performance from period to period. However, these non-IFRSfinancial measures have limitations and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

2

Why invest in SNC-Lavalin

3

› Continued growth for value-added global engineering services› The world will continue to evolve in ways that no one can foresee, but engineers will remain

at the very heart of that change by designing and building projects to meet the great challenges of tomorrow, whether they be climatic, social, or resource-based

› Leadership positions in highly attractive end markets, including Canadian PPP, Rail & Transit, Mining & Metallurgy, Nuclear, O&G sustaining capital

› Diversified business model with ability to provide comprehensive end-to-end project solutions – including financing & asset management, consulting & advisory, digital & artificial intelligence, design & engineering, procurement, construction & project management, operations & maintenance and sustaining capital

› Strong diversified backlog with tier-1 clients

› E&C business undervalued vs peers

› Issues of the past are being systematically resolved

› Strong track record of increased dividend

› High caliber international leadership supported by talented and dedicated team

A global fully integrated professional services & project management company leader

4

SNC-Lavalin is a global fully integrated professional services and project management company, and a major player in the ownership of infrastructure

From offices around the world,SNC-Lavalin’s employees are proud to build what matters, providing comprehensive end-to-end project solutions to clients in six industry sectors

Founded in

1911

Employees

50,000+

Revenue

~$10B

Listed on TSX

“SNC”Since 1986

Investment Grade Credit Rating1

BBB

1 Per S&P and DBRS.

52%

23%

14%

11%

Operating in 4 regions across the world

5

Breadth of geographic exposure

Americas16,000

Europe12,000

Asia Pacific5,000

Middle East

& Africa17,000

2017 Revenues1

$9.3B

Americas Middle East & AfricaAsia PacificEurope

1Only includes 6 months of Atkins revenues, as it was acquired on July 3, 2017.

Canada 31%USA 17%Latin America 4%

26%

19%32%

10%

3%5% 2%3%

Nuclear

EDPM

Clean Power

37%

21%

18%

8%

5%4%

4% 3%

Nuclear

An improving diversified business model

6

2017 Revenues

Oil & Gas

Infrastructure

EDPM

Mining & Metallurgy

Capital

$9.3B

1

1 Includes only 6 months of Atkins revenues, as it was acquired on July 3, 2017.

75%Reimbursable &

Engineering Service Contracts

25%EPC Fixed-

price Contracts

Clean Power

Thermal Power

Q1 2018 Revenues

Oil & Gas

Infrastructure

Mining & Metallurgy

Thermal Power Capital

$2.4B

Resilient business model with a well-balancedrevenue backlog

7

12%

54%

16%

10%

3%4% 1%

Nuclear

EDPM

Clean Power

76%Reimbursable &

Engineering Service Contracts

24%EPC Fixed-

price Contracts

Q1 2018 Backlog

Oil & Gas

Infrastructure

Mining & MetallurgyCapital

$13.5B*

*Does not yet include the two recently awarded $1.9B contracts related to the REM project in Montreal

Redefining SNC-Lavalin

2012 - Crisis› SNC-Lavalin turns

documents to authorities› Investigations› Lawsuits› Allegations

2013 - New Beginning› Change senior leadership

& culture› Develop new strategy with

focus on growth opportunity in Resources

2014 – Expand Resources Capabilities› Kentz acquisition› Expand O&G capabilities› Grow O&G revenues from

$500M (2013) to $4B (2015)› Position SNC-Lavalin as a top 10

O&G player

2015 - Step Change and Operational Excellence› Adjust cost structure to the

resources market slowdown› Target $200M in G&A savings

& Deliver

2016-2018 - Focus› Atkins acquisition to expand

Services offering, regional breadth and Infrastructure and Nuclear expertise

› Deliver on operational excellence › Deliver a client-centric organization› Deliver a performance-driven culture

2020 - Vision› Reposition SNC-Lavalin on a path

of strong profitable growth› Balance portfolio across sectors

geography risk profile

8

Incr

ease

d fo

cus

on

Eth

ics

& C

ompl

ianc

e

New business mixNew management New Board New Culture

Administrative agreement signed with PWGSC

Agreement with the Commissioner of Canada Elections and with the Ordredes ingénieurs du Quebec

Fair and final settlement with Quebec’s Voluntary Reimbursement Program

2015 2016 2017Agreement to settle class actions brought in 2012

2018Federal Charges settlement or DPA

7,1497,335

9,364

8,223

9,097

2013 2014 2015 2016 2017

(in M$)

On a path of growth and improved E&C earnings

9

-133.7

54.9

201.9226.4

351.3

2013 2014 2015 2016 2017

(in M$)

Revenues from E&C Adjusted E&C EBITDA margin and adjusted net income

from E&C

2.1%

4.6% 4.5%

6.9%

Adjusted net income from E&C

Adjusted E&C EBITDA margin

SNC-Lavalin: a discounted share priceE&C P/E multiples vs peers

SNC-Lavalin PeersGroup

Average1

PeersGroup incl.

Canadian peersAverage2

Share price ~$56.00

Less H4073 (26.46)

Less Other Concessions3 (2.95)

Adjusted E&C price $26.59

2018 adjusted EPS from E&C consensus3

$2.69

E&C P/E multiple 9.9 15.4 17.2

1 Includes Aecom, Balfour Beatty, Fluor, Jacobs, Wood and WorleyParsons2 Incudes peers group + Stantec and WSP3 Analysts consensus as at May 18, 2018

SNC-Lavalin’s E&C P/E multiple ~ 5 to 7 times lower than peers

10

SNC-Lavalin’s E&C business undervaluedE&C EV/EBITDA multiples vs peers

11

As at May 17, 2018

13.2x

12.1x

10.9x

10.0x 9.5x 9.2x 9.1x

6.9x 6.8x 6.7x

Avg: 9.8x

WorleyParsons WSP Wood Stantec Jacobs Fluor AECOM Balfour McDernmott SNC (Ex-Capital)

EV / CY2018E EBITDA

(E&C)

12

SNC-Lavalin’s E&C business undervaluedTrading multiples vs peers

Comparable Company Analysis Summary

As of market close May 17, 2018

CY18E - 19E Growth EV / EBITDA P / E Debt / CY18E EBITDA

Revenue EBITDA EPS CY2018E CY2019E CY2018E CY2019E Total Net

SNC (Ex-Capital) $26.50 $4,653.5 $6,049.3 5.3% 11.3% 14.5% 6.7x 6.0x 9.9x 8.6x 2.2x 1.5x 2.1%

SNC (Consolidated) $55.74 $9,788.8 $12,995.2 5.2% 7.4% 13.6% 11.2x 10.5x 15.2x 13.4x 3.3x 2.8x 2.1%

Jacobs $81.88 $11,644.5 $13,726.3 5.0% 8.6% 12.9% 9.5x 8.8x 14.7x 13.0x 2.3x 1.4x 0.9%

AECOM $42.75 $6,804.6 $10,759.2 4.2% 8.0% 10.9% 9.1x 8.4x 12.0x 10.8x 4.2x 3.3x –

Fluor $63.73 $8,961.4 $8,885.8 3.6% 25.7% 46.3% 9.2x 7.3x 21.7x 14.8x 2.2x neg. 1.7%

U.S. Peer Average 4.3% 14.1% 23.4% 9.3x 8.2x 16.1x 12.9x 2.9x 2.4x 0.9%

Wood $11.98 $8,013.1 $9,862.2 5.7% 18.2% 29.1% 10.9x 9.2x 17.4x 13.5x 4.2x 2.4x 3.7%

WorleyParsons $17.16 $4,704.5 $5,437.1 6.4% 7.5% 11.4% 13.2x 12.3x 24.5x 22.0x 2.5x 2.0x 1.1%

Balfour Beatty $5.23 $3,553.6 $2,543.1 2.3% 14.0% 20.9% 6.9x 6.1x 17.6x 14.5x 5.0x 0.5x 1.2%

International Peer Average 4.8% 13.2% 20.5% 10.3x 9.2x 19.8x 16.7x 3.9x 1.6x 2.0%

Peer Average 4.5% 13.7% 21.9% 8.4x 7.4x 15.4x 12.7x 2.9x 1.6x 1.4%

Share Price (C$)

MarketCap

(C$mm)

EnterpriseValue

(C$mm)

Dividend Yield

U.S

. Pee

rsIn

tern

atio

nal

Peer

s

13

Vision 2020 – Delivery ahead of schedule

2020 Objectives

› Become one of the top global, fully integrated, professional services and project management companies in profitability and profit growth

› Be recognized as a client-centric delivery-focused organization

› Strong, performance-driven culture

› Continuous focus on operational excellence

Plan to deliver adjusted consolidated EPS of $5

14

Drivers:› G&A expenses efficiency &

operational excellence continuous improvement

› Project execution improvement

› Driving organic growth by:- Increasing our share in

nuclear through an expanded offering

- Capitalizing on Infrastructure investment in Canada, UK & US

- Maximizing Atkins/SNC-Lavalin revenues synergies

- Mining & Metallurgy recovery

› M&A post Atkins integration

Vision 2020

$0.36

$1.34 $1.51$2.15

$0.002014 2015 2016 2017 2018 2019 2020

Adjusted diluted EPS from E&C Adjusted diluted EPS from Capital Outlook range

$2.46 $2.42 $2.58

$3.20

Between $3.85

and $3.601

$5.00

1 2018 Adjusted diluted EPS from E&C expected in the range of $2.60 and $2.85

15

Sector of Activity

16

Comprehensive end-to-end service offering …

CapitalThrough Capital, our investment, project financing and asset management arm, we offer end-to-end capital investment services. Capital focuses on identifying and developing high-performing business opportunities across our sectors. It provides equity and debt solutions to finance projects and manages our multi-billion-dollar portfolio of infrastructure investments. With Capital, we’re broadening our business development and investment opportunities while reducing our exposure and risk through strategic collaboration with financial partners.

Consulting & AdvisoryWe help clients plan, design and enable major capital projects, as well as provide expert consultancy that covers their project’s full lifecycle. We strive to build strong relationships by understanding the challenges our clients face, sharing their vision and helping them bring this vision to life.

Digital & AIFrom digital products and tools to Internet of Things (IoT), Mobility as a Service (MaaS) and strategic digital asset management solutions, our extensive digital engineering and enterprise asset management capabilities enhance both our clients’ and our own business performance. A lean start-up methodology allows us to rapidly incubate and test innovative ideas. We’re also pushing the boundaries through the increased use of automation on projects as well as our artificial intelligence (AI) and machine learning consulting services.

Design & EngineeringOur engineers and designers provide innovative, digitally-driven services for all our sectors. From concept and feasibility through to detailed design, we develop tailored solutions to ensure sustainable projects for our clients and their customers as well as a positive end-user experience. Our sustainable engineering capabilities and full project lifecycle know-how improve energy performance and optimize operations to generate long-term savings for clients.

ProcurementOur international network of more than 500 procurement professionals in 40 countries manages $7 billion worth of goods and services annually for clients across our sectors. We strive to deliver excellence through innovative procurement solutions while respecting quality, cost and schedule requirements in an evolving sourcing market.

Construction & Project ManagementWe deliver complete lifecycle solutions for all sizes and types of projects, including public-private partnerships (P3s). Our extensive construction expertise, combined with an unwavering focus on safety and in-depth financing, engineering, procurement and operations and maintenance know-how, make us a partner of choice across a broad range of industries and markets. So does our commitment to leveraging local capabilities and ensuring cost and schedule efficiencies.

Operations & MaintenanceWe’re one of Canada’s largest operations and maintenance service providers with a presence in many parts of the world. Our services include the operations and maintenance of airports, roads, bridges and rail systems, industrial facilities, defenceand logistics support, and integrated real-estate solutions. Key differentiators include our extensive P3 expertise, around-the-clock support for mission-critical activities and focus on maximizing an asset’s lifecycle.

Sustaining CapitalWith today’s commodity volatility and record lows, companies are postponing growth capital expenditures and focusing on getting more out of their existing assets. We help clients rigorously manage their capital portfolio, providing solutions to reduce costs and drive productivity. We develop a holistic view of our clients’ assets and identify short and long-term value-driving initiatives to deliver incremental improvements that optimize their operations.

Capital Consulting& Advisory

Procurement Construction& Project

Management

Operations& Maintenance

Design& Engineering

Sustaining Capital

Digital& AI

Clean Power

17

US$300billion

US$150billion

US$100billion

US$460billion

US$1.9trillion

…in five sectors of activity with robust growth backdropGlobal Market

2017-21(1)

› Rail & Transit› Highways & Bridges› Buildings & Facilities› Environment & Geoscience

› Municipal infrastructure› Water & Wastewater

› Industrial› Airports & Aviation› Defense and Logistics› Ports & Harbours

› Heavy Oil› Offshore› LNG

› Unconventional O&G› Refining &

Petrochemicals› Gas Processing

› Sustaining Capital› Pipelines› Carbon Capture

and Utilization

› New Builds› Life Extension &

Upgrades

› Hydropower› Transmission and

Distribution

› Renewables› Energy Storage› Digital Grid Solutions

› Aluminium› Gold

› Copper› Iron Ore› Nickel

› Fertilizers› Sulphur Products

› Canada

1) Data was internally developed using multiple sources not limited to the following: Business Monitor International, Middle East Economic Digest, International Energy Agency, US Department of Energy, National and Provincial Budgets of Canada, US Congressional Budget Office, Australia Budget, National Rail budget, American Road & Transportation Builders Association, Individual company reports.

2) Build, own, operate and transfer.

Infrastructure

Oil & Gas

Mining & Metallurgy

Capital

› Select U.S. opportunities

› Other BOOT(2)

opportunities

Nuclear

› Decommissioning› Site M&O

› Waste Management Services› Operations Support

US$200billion

› Intelligent Networks and Cybersecurity

› Digital Utility Transformation

Supported by:

18

54% 46%

Q1 2018 Revenues

Reimbursable & engineering services contracts EPC Fixed-Price contracts

~$2.0B revenuebusiness with

~6,000employeesInfrastructure

Recently awarded first US joint venture design-build management project for Sound Transit's Federal Way Link Extension project, SeattleRecently awarded joint venture for EPC and Rolling Stock, Systems and Operations and Maintenance contracts for the Réseau Express Métropolitain, MontrealIntegrated infrastructure engineering solutions for more than a century and on every continentStrong track record of completing complex projects such as light rail transit projects, bridges, highways, and buildings Leader in Canadian PPP projects Ability to address full infrastructure life cycle from equity investment and arranging financing, to EPC and O&M

2017EBIT Margin

~7%

Revenue Backlog$7.3B

March 31, 2018

19


~18,000employees

One of the world’s most respected design, engineering and project management consultancies, comprising the Atkins and Faithful +Gould businesses, bought bySNC-Lavalin in 2017

Over 75 years helping clients to plan, design and enable major capital projects and providing expert consultancy across the full project lifecycle

Value created through long term relationships as trusted advisers to major clients and governments

Now creating additional value by harnessing data and digital technology to better design, deliver and manage the built environment for a decarbonised, climate resilient future


March 31, 2018

100%

Q1 2018 Revenues

Reimbursable & engineering service contracts

EDPM (acquired July 3, 2017)

2017EBIT Margin

~11%

20


~20,000employeesOil & Gas

70% of revenue from blue-chip customersRelationship-based repeat business with core blue-chip IOCs & NOCsAgility to offer services and resources specific to client needsWorld-class expertise at every phase of an asset life cycleConsolidation in offshore offering increases end to end services and scaleA partner for clients in increasing efficiency and production from existing assetsIncreased contribution from lower risk, higher margin services


March 31, 2018

2017EBIT Margin

~7%76% 24%

Q1 2018 Revenues


21

~$800M revenuebusiness with

~4,000employeesNuclear

Positioned to lead and grow from within a transformed Nuclear business. Now one of most complete nuclear service companies in the worldProviding consulting services, technology & products, project management, and site management for new generation, nuclear plant operating life, decommissioning and waste managementExclusive licensee of CANDU nuclear reactor technology with a focus on realizing its potentialParticipating in Canada’s two largest clean energy infrastructure projects: Bruce Power & OPGDeep heritage in providing expert support to some of the most successful nuclear sites around the world


March 31, 2018

2017EBIT Margin

~18%99%

1%

Q1 2018 Revenues


22


~1,000employeesClean Power

More than a century of experience with 413,000 MW, 2,500 substations, 114,000 km transmission and distribution (T&D) lines. Enough capacity to power 35 cities the size of New York and enough T&D lines to circle the globe almost 3 times.End-to-end life-cycle capabilities in power generation and transmission, including renewable projectsWorld leader in hydropower projects and owners of the first PPP hydroelectric power project in CanadaUnique digital utility transformation offering including in-house intelligent networks and substations capabilities and cybersecurityAwarded Stockyard Hill Wind Farm contract to deliver the southern hemisphere’s largest wind farm


March 31, 2018

2017EBIT Margin

~13%40% 60%

Q1 2018 Revenues


23


~1,300employeesMining & Metallurgy

Five decades of combining global-caliber expertise with deep local capabilities to provide tailored solutions for projects of any size, scope or complexity

Proven ability of reducing clients’ capital and operating costs, improving mine and processing plant efficiency, and providing project and quality assurance

One-stop-shop capabilities, deep know-how, and flexible execution models for clients around the world

Track record of safely and successfully delivering studies, sustaining capital services and major projects in 35 countries


March 31, 2018

33% 67%

Q1 2018 Revenues


2017EBIT Margin

~4%

In M$

24

Cumulative Net income(excl. gain/loss on disposal)

$359MInv. NBV1

~$5.0BInv. FMV2 per analysts

Portfolio ofvalue creating

assetsCapital

SNC-Lavalin’s investment and asset management armPortfolio of 16 investments in 5 countries (see next slide)

New infrastructure vehicle created in 2017 – SNC-Lavalin Infrastructure Partners LP- BBGI subscribed to units in an amount equal to 80% of the value of 4 assets- 4 North American mature assets were transferred in Q3 2017- 1 more asset (MIHG) should be transferred into the vehicle by year-end 2018 - Representing a total fair value of ~$254M3 or ~1.9x NBV- SNC-Lavalin retains the long-term management of the assets- SNC-Lavalin acts as General Partner and Manager of the Partnership

Our star investment = 407 ETR (see appendix)

1 Net Book Value as at March 31, 2018, excl. MIHG2 Average Fair Market Value as per analysts

average consensus, as at May 18, 20183 At 100%. $185M / 80% = $231M + MIHG adjustment of $23M

0

60

120

180

Q2 17(3 mths)

Q3 17(6 mths)

Q4 17(9 mths)

Q1 18(TTM)

H407 Others

Name Description HeldSince

ConcessionYears

Location EquityParticipation

Highways, Bridges & Rail

1. Highway 407 (407 ETR) 108 km electronic toll road 1999 99 Canada (Ontario) 16.8%

2. InTransit BC* Rapid transit line 2005 35 Canada (B.C.) 6.7%

3. Okanagan Lake* Floating bridge 2005 30 Canada (B.C.) 20%

4. TC Dôme** 5.3 km electric cog railway 2008 35 France 51%

5. Chinook* 25 km six-lane road 2010 33 Canada (Alberta) 10%

6. 407 EDGGP 32 km H407 East extension (Phase 1) 2012 33 Canada (Ontario) 50%

7. Highway Concessions One PL Fund (Roads) 2012 9 India 10%

8. Rideau Light rail transit system 2013 30 Canada (Ontario) 40%

9. Eglinton Crosstown 19 km light rail line 2015 36 Canada (Ontario) 25%

10. SSL New Champlain bridge corridor 2015 34 Canada (Quebec) 50%

Power

11. SKH 1,227 MW gas-fired power plant 2006 23 Algeria 26%

12. Astoria II 550 MW gas-fired power plant 2008 Indefinitely USA (NY) 6.2%

13. InPower BC John Hart 132 MW generating station 2014 19 Canada (B.C.) 100%

Health Centres

14. MIHG*** McGill University Health Centre 2010 34 Canada (Quebec) 50%

15. Rainbow* Restigouche Hospital Centre 2011 33 Canada (N.B.) 20%

Others

16. Myah Tipaza Seawater desalination plant 2008 28 Algeria 25.5%

Capital investments portfolio

NBV1 = $359M2 FMV3 = ~$5B

* Assets transferred in Q3 2017 into SNC-Lavalin Infrastructure Partners LP (“Partnership”) **To be sold ***To be transferred into the Partnership1 Net Book Value as at March 31, 2018 2 Excludes MIHG 3 Average Fair Market Value as per analysts calculations, as at May 18, 2018

25

Appendix

26

27

› Operating cash flows from E&C projects

› Dividends from existing concessions and Capital Investments

› Divestiture of matured Capital Investments

› Divest of non-core assets › Adding leverage

Sources of Funds

› Working capital & capex needs on new projects

› Equity investments driving E&C revenues

› Dividend payment› M&A activities› Opportunistic share buy back

Uses of Funds

› Drive organic and inorganic E&C growth› Optimize our balance sheet while

safeguarding our Investment Grade rating› Return capital to shareholders

Key objectives of our Framework

Our capital allocation framework

28

1.053

20152014

1.01

0.97

0.93

2013

1.106

20172016

Payout ratio* 125% 40%41%39% 34%(in $)

A track record of increased dividends

Dividends were

increased for each of the past 17

years

Declared dividend per share

* % of consolidated adjusted net income.

Key Goals:

› Maintain dividend growth trajectory› Stabilize dividend payout at around 30%

of consolidated adjusted net income

$350M Debenture› Maturity: July 2019› Interest rate: 6.19%

$300M Series 1 Debenture› Maturity: November 2020› Interest rate: 2.689%

$150M Series 2 Debenture› Maturity: November 2019› Interest rate: floating rate

$175M Series 3 Debenture› Maturity: November 2021› Interest rate: floating rate

$200M Series 4 Debenture› Maturity: November 2023› Interest rate: 3.235%

Borrower› SNC-Lavalin Highway Holdings,

non-recourse to SNC-Lavalin Group

Amount› $1,500M divided in two Tranches:

- Tranche A - $1B- Tranche B - $500M

› Interest rate ≈ 6.5%

Prepayment› Tranche A: non-call period of 4

years› Tranche B: right to repay at all

times without penalties

29

Revolving & Term Facility› $2,600M Revolving Facility

maturing May 2022› $3,000M Uncommitted bilateral

facilities› Current maximum leverage

ratio of 3.5

Credit facilities(recourse debt)

Other(recourse debt)

CDPQ(limited recourse debt)

Credit facilities and long-term debt

$1,543M as at March 31, 2018 $1,476M as at March 31, 2018

In April 2018, credit facilities were amended for an additional $500M new 5-year non-revolving term loan. The net proceeds was used to repay in full the

CDPQ tranche B loan.

407 ETRConsistent growth and low cost of financing

30

120 135 190

300

460

600680

730 750 790845

20 23 32 50 77 101 114 122 126 133 142

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Dividends (in M$)

Total dividends paidby 407 ETR

Dividends receivedby SNC-Lavalin

300

608

250208

3501400

2082502

340

625

350400

5003

150

500 500 5004

400

200

3003

480

165

2020 2021 2022 2024 2026 2027 2029 2031 2033 2035 2036 2039 2040 2041 2042 2044 2045 2046 2047 2048 2052 2053

Bond Maturity Profile(in M$)

Senior Bonds ($5.8B) Subordinated Bonds ($0.8B) Junior Bonds ($0.2B)

3.60

%

4.99

%

4.30

% /

5.33

%

3.35

%

5.33

%

6.47

%

5.33

%

5.96

%

5.75

%

7.13

%

4.45

%

4.19

%

3.30

%

3.83

%

3.98

%

4.68

%

3.72

%

5.29

% /

6.75

%

2.43

%

2,253 2,253 2,215

2,336 2,326 2,340 2,3562,437

2,517

2,6412,709

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Gross Vehicle Kilometres Travelled(in millions – KM)

1Issued in November 2016 2Issued in March 2017

3.43

%

2.47

%

3.65

%3Issued in September 2017 4Issued in May 2018

407 ETR information

31

Year ended December 31(in M$) 2017 2016 Change

Revenues 1,267.7 1,134.7 11.7%

Operating expenses 163.9 149.7 9.5%

EBITDA 1,103.8 985.0 12.1%

EBITDA as a percentage of revenues 87.1% 86.8% 0.3%

Net income 470.1 372.9 26.1%

665736

840

985

1,104

801888

1,002

1,135

1,268

2013 2014 2015 2016 2017

Total EBITDA/revenues(in M$)

EBITDA Revenues

83.0%82.9%

83.8%

86.8%

87.1%

727

809

916

1,056

1,178

2013 2014 2015 2016 2017

Toll revenues(in M$)

(in M$, except per share amount)

Net income reconciliation – full year Net Income,as reported

Net charges related to the

restructuring & right-sizing plan

and other

Acquisition Net loss (gain) on disposals of E&C business,

head office building, and

Capital Investments

Impact of U.S. corporate tax

reform

Net income, adjusted

(Non-IFRS)

Year Ended December 31, 2017In M$

E&C 176.0 25.41 97.2 112.6 (102.4) 42.5 351.3

Capital 206.0 - - - (35.0) - 171.0

382.0 25.4 97.2 112.6 (137.4) 42.5 522.3

Per Diluted share ($)

E&C 1.08 0.15 0.60 0.69 (0.63) 0.26 2.15

Capital 1.26 - - - (0.21) - 1.05

2.34 0.15 0.60 0.69 (0.84) 0.26 3.20

Year Ended December 31, 2016In M$

E&C 46.3 77.62 3.4 54.5 44.6 - 226.4

Capital 209.2 - - - (48.5) - 160.7

255.5 77.6 3.4 54.5 (3.9) - 387.1

Per Diluted share ($)

E&C 0.31 0.52 0.02 0.36 0.30 - 1.51

Capital 1.39 - - - (0.32) - 1.07

1.70 0.52 0.02 0.36 (0.02) - 2.58

Acquisition-related costs

and integration costs

Amortization of intangible

assets related to business

combinations

32

1This amount includes $5.1 million ($5.3 million after taxes) of net charges which did not meet the restructuring costs definition in accordance with IFRS.2This amount includes a net reversal of $4.2 million ($6.0 million after taxes) of charges which did not meet the restructuring costs definition in accordance with IFRS.

Firm Analyst Rec. TelAltaCorp Capital Chris Murray Buy 647-776-8246BMO Capital Market Devin Dodge Buy 416-359-6774Canaccord|Genuity Yuri Lynk Buy 514-844-3708CIBC World Markets Jacob Bout Buy 416-956-6766Desjardins Securities Benoit Poirier Buy 514-281-8653Laurentian Bank Securities Mona Nazir Buy 514-350-2964Morningstar Inc David Silver Hold 312-244-7251National Bank Financial Maxim Sytchev Buy 416-869-6517Raymond James Frederic Bastien Buy 604-659-8232RBC Capital Markets Derek Spronck Buy 416-842-7833Scotia Capital Mark Neville Buy 514-350-7756TD Newcrest Michael Tupholme Buy 416-307-9389

Price as of May 18, 2018 $55.24

Shares outstanding – Diluted 175.6M

Market capitalization $9.7B

52 - week high / low $59.38 / $50.71

Dividend per share $0.287 / quarter

Dividend yield ~ 2.1%

33

Tel.: 514-393-8000 Ext. 57553E-mail: [email protected]

SNC-Lavalin

Denis JasminVice-President, Investor Relations

Market Details

Documents

Investor Presentation - April 2018 FINAL · Statements made in this presentation that describe the Company’s or management’s budgets, ... helping our clients to plan, ... Marketing