Market Overview

Stantec Signs Letter of Intent to Acquire UK-Based Peter Brett Associates



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Global design firm Stantec is further expanding its United Kingdom (UK)
presence with the planned acquisition of Reading, England-based Peter
Brett Associates LLP (PBA). An independent firm of more than 700
engineers, planners, scientists and economists delivering projects in a
variety of sectors, PBA has 14 offices distributed across the UK and
three across Central Europe. The transaction is expected to close in

"Both PBA and Stantec bring teams that possess a depth of expertise,
experience, and passion for community. Together, our combined strengths
will be essential to meet the growing opportunities in key UK markets,"
said Gord Johnston, Stantec president and CEO. "Regionally, the project
landscape is promising with the UK government's policy to build 300,000
new homes per year, a five-year program to invest £4.4 billion ($7.4
billion CAD) in new and refurbished schools, a robust university
upgrading initiative, and a major national investment program in UK
infrastructure. These programs, paired with the existing role PBA is
playing in projects like High Speed 2 and Crossrail 2, position us well
for continued growth together."

With more than five decades of project experience in key regional
markets, PBA has supported the office and commercial, urban
regeneration, infrastructure, education, energy, public sector,
residential, retail and town centers, tourism and leisure, waste, and
water sectors. With a varied client roster spanning commercial companies
and landowners to government entities, the firm has several notable
projects to its credit, including urban planning for a significant
development outside London at Paradise Birmingham. The design teams at
PBA provided traffic assessment and optimization of the existing highway
network to transform 17 acres (7 hectares) of city center land into new
civic, retail, leisure and hotel facilities, public transport and public
realm space. To support one of Great Britain's largest mixed-use
developments, PBA provided pre-application consulting to secure planning
consent for the 575 hectares (1,420 acre) Alconbury Weald in Eastern
England's Cambridgeshire area. Located on a converted airfield site, the
project will include 5,000 new homes, 290,000 square meters (121,534
square feet) of employment space, educational facilities, public space,
and community facilities.

Since 2010, the firm has been actively working on the Thames Tideway
Tunnel project, London's largest sewer upgrade since the Victorian era.
Previously, PBA managed the assessments for environmental impacts,
health, transportation and energy and carbon footprint while also
supporting stakeholder engagement and public consultation. The firm
continues to provide extensive consultation on this project on several
areas, including environmental planning and construction traffic

"Joining forces with Stantec will enable us to provide our clients with
greater insights and expertise from the wider Stantec team and allow PBA
to capitalize on the opportunities it is creating in the development and
infrastructure markets," said Keith Mitchell, PBA chairman. "We are
excited about the opportunities that can flow from joining a team which
shares our values and approach to client relationships, and that has
demonstrated its track record as a great place to work."

Of Stantec's 22,000 team members, more than 2,400 are based in the
United Kingdom.

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
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Design with community in mind

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