Q4 and fiscal 2017 results. March 15, 2018

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1 Q4 and fiscal 2017 results March 15, 2018

2 Key Highlights 2 Very strong Q4 results with all regions posting organic growth in net revenues and consolidated record high backlog. Met or exceeded all 2017 outlook metrics. Optimistic about 2018 and confident we will deliver on our strategic plan

3 Q and F17 Performance

4 Q Net revenues were $1.5 billion, up 11.4% year over year. 4 Organic growth in net revenues amounted to 8.1%. Adjusted EBITDA was $140 million with adjusted EBITDA margin of 9.5%. Backlog reached its highest level ever at $6.4 billion, representing approximately 10.1 months of revenues.

5 10 Acquisitions added over 5,000 employees Finland 40 employees 5 United States 10 employees United States 150 employees United States 25 employees Sweden 27 employees Switzerland 25 employees ISS Proko Oy Finland 135 employees Latin America 730 employees (Latin America 1,000 employees New Zealand 3,000 employees Financed using balance-sheet

6 Canada Fiscal % organic growth in net revenues 12.3% adjusted EBITDA margin before global corporate costs Backlog increased organically 10.9% compared to same period in Significant project wins Rehabilitation of Canada's Parliament Hill's Centre Block 4Transit joint-venture Metrolinx contract for Regional Express Rail Program (Toronto)

7 Americas Fiscal % organic growth in net revenues (positive impact of FEMA-related revenues) 13.3% adjusted EBITDA margin before global corporate costs Significant project wins Giant Magellan Telescope in Chile

8 EMEIA Fiscal % organic growth in net revenues 12% organic growth in net revenues in the Nordics 4% organic growth in net revenues in the UK 9.9% adjusted EBITDA margin before global corporate costs Significant project wins Leader for the development of two of the four new stations as part of the High Speed 2 rail network

9 APAC Fiscal % organic growth in net revenues Recent acquisition of Opus is expected to generate cost synergies which should positively impact the performance of the region in 2018

10 Financial Performance

11 Revenues* and Net Revenues* Revenues* +8.8% 6 942, ,6 Net Revenues* +9.4% 4 895, , % +11.4% 1 798, ,3 8.1% organic growth in net revenues 1 478, ,7 Quarter Year Quarter Year * Non-IFRS measure

12 Adjusted EBITDA* and Adjusted EBITDA margin* +11.3% 555,2 499, % 10.4% adjusted EBITDA margin 135,3 140,0 9.5% adjusted EBITDA margin Quarter Year * Non-IFRS measure

13 Adjusted net earnings* and adjusted net earnings per share* Adjusted Net Earnings* Adjusted Net Earnings per share* +4.6% 223,7 233,9 13 Negatively impacted by multiple non-cash expenses such as US Tax Cuts and Jobs Act and 4 less billable days (42.7%) 68,8 39,4 Negatively impacted by multiple non-cash expenses such as US Tax Cuts and Jobs Act (44.1%) 0,68 0,38 2, % 2,28 Quarter Year Quarter Year * Non-IFRS measure

14 Free Cash Flow: Long-term progression through seasonality 350 $296.1M or 138.8% of net earnings Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q4 2017

15 Financial position and net debt/ttm adjusted EBITDA* ratio (in $M, CAD) Q Financial liabilities $1,229.9 Less: Cash ($185.1) 15 Net debt $1,044.8 TTM adjusted EBITDA* $555.2 Net debt / TTM adjustedebitda* (adjusted for 12-month net revenues for all acquisitions) 1.8x Adequate flexibility to pursue our acquisition growth strategy * In millions CAD Non-IFRS measures

16 Stable DSO* Q Q Q Q Q Non-IFRS measures

17 2018 Outlook

18 2018 Outlook Net revenues* Adjusted EBITDA* Seasonality and adjusted EBITDA* fluctuations Between $5,700 million and $5,900 million Between $610 million and $660 million Q1: 18% to 21% Q2: 25% to 28% Q3: 26% to 29% Q4: 24% to 27% 18 Tax rate 23% to 25% DSO* Amortization of intangibleassets related to acquisitions Capital expenditures 80 to 85 days Net debt to adjusted EBITDA* 1.5x to 2.0x Acquisition and reorganization costs* Between $60 and $70 million Between $115 and $125 million Between $40 million and $50 million 1) * Non-IFRS measure. 1) Due mainly to personnel and real estate integration costs related to the acquisition of Opus completed in Q4 2017, and to real estate integration costs pertaining to the Mouchel acquisition completed in Q4 2016

19 2018 Regional operational outlook CANADA Solid backlog and good prospects NORDICS Significant increase in headcount should translate into higher utilization rates 19 AMERICAS Strong US Transportation and Infrastructure spending Integration of POCH and ConCol expected to deliver synergies and improvement in operating margins UK Large public sector work Continuing concerns over Brexit SOUTH AFRICA Difficult economic conditions MIDDLE EAST Difficult economic conditions ASIA Continued slowdown in buildings market AUSTRALIA and NEW ZEALAND Transportation is the fastest growing segment of all our businesses worldwide

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