A Deep Dive Into Nuclear

›February 2020

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”, “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’s operations. 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 2018 Management Discussion and Analysis (MD&A) and as updated in the first, second and third quarters of 2019. 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 2018 MD&A and as updated in

the first, second and third quarters of 2019.

2

Bill Fox

EVP, Nuclear, Canada

› Joined SNC-Lavalin in 2018

› Has held senior leadership roles at BWX Technologies, CB&I, AREVA, SGT and Duke

Engineering & Services

› Over 40 years of experience in Energy and Nuclear industry

Chris Ball

Managing Director, EMEA

› Joined Atkins / Nuclear in 2000

› Previously Atkins Group Managing Director of Energy UK & Europe

› Over 25 years of experience in Energy industry

3

Leadership Team

Sandy Taylor

President, Nuclear

› Joined SNC-Lavalin in 2014 as President of Power Group

› Previously President and CEO of ABB Canada and has held a number of

senior roles within ABB for 29 years

› Over 40 years of experience in Energy industry

Joel Taché

SVP, Finance, Commercial and Risk

› Joined SNC-Lavalin in 2012 as Vice President of Corporate Risk Management

› Has held senior leadership roles at Utility Service, United Water (Suez) and Vinci

› Over 25 years of experience in Finance, Strategy and Risks in the Energy, Water and

Transportation Industry

Decades of experience successfully delivering major nuclear projects

Tom Jouvanis

President, USA

› Joined Atkins / Nuclear in 2016 as President of Atkins Nuclear Secured

› Previously Senior Vice President of EnergySolutions

› Over 35 years of experience leading organizations in the performance of

management consulting, engineering & construction, environmental cleanup,

and chemical manufacturing

Mark Morant

EVP, Decommissioning & Waste Management

› Joined Atkins / Nuclear in 1996

› Previously Managing Director of Magnox and Executive Officer of EnergySolutions

› Over 30 years of executive level management within the nuclear industry

4

Key Trends in the Nuclear Market

Operations Support Services› Post-Fukushima upgrades resulting in increased operating expenditures

› Global operating fleet requiring increased maintenance services

Life Extension & Late Life Management

› Life extension and mid-to-late life asset management well underway in our CANDU® portfolio

› Shift to late life management for over 200 nuclear reactors in operation in the mid- to long-term timeframe

Decontamination, Decommissioning and Waste Management› Continued robust demand for waste management and supporting technology

› Growing decontamination & decommissioning market in our core geographies

› Strong long-term outlook in North America and Europe as reactors reach end of design life

Nuclear, with its low carbon footprint, is now seen as part of the solution to address the ever-increasing issues of greenhouse gas and climate change.

(1) Per World Nuclear Association Performance Report 2018

New Builds› Driven primarily by UK, China, Russia and India (50+ in construction, 160 planned(1))

› Numerous countries in early phase of investigating SMR (Small Modular Reactor) and fusion technology

› Increasing competition from renewables (mainly wind & solar)

Our focus, backlog and our ability to win long-term contracts underpins our highly stable,

profitable and growing business

5

We Are a Differentiated Leader in Many Facets of the Nuclear

Lifecycle

The integration of SNC-Lavalin and Atkins nuclear businesses has created a global leader positioned to capitalize on significant

investments unfolding over the next decades with a focus on deepening penetration in core Canada, UK and US markets.

We offer end-to-end services extending across the full life-cycle of a nuclear asset, from design and delivery through its

operating life, with 37% of revenue(1) stemming from final decommissioning, waste management and environmental clean-up.

Product development and technology deployment is in our DNA. Committed to true innovation, we leverage our substantial

portfolio of hundreds of patents to develop new value-added solutions for our customers.

We achieve stable financial performance, robust margins and strong cash flow conversion, supported by long-term

contracts with large utilities and government entities.

(1) YTD for the period ending September 30, 2019.

We support each other and

succeed together

We bring together the

best expertise to innovate &

win

6

SNC Lavalin: Committed to a Sustainable Nuclear Future

Our mission is to support a more sustainable world through the lifecycle of carbon-free nuclear energy

and to ensure nuclear remains a key part of the mix for future generations.

We strive every day to delight our customers

We are driven to be the industry

leader in project execution

Our behaviours put our values into

action

We think globally &

deliver locally

Our

Operating

Principles

7

Our History

Successfully combined and integrated various businesses with different histories, operating

models, geographies, cultures and services

SNC-Lavalin

Nuclear

Stewards of CANDU® technology for over

60 years

Unique expertise for new builds

Expertise in other reactor types, broad

services offering and digital capabilities

Deep D&D(1) and waste management

capabilities

Extensive technology portfolio of 200+ active

& pending patents to address reactor life

cycle and waste management

2004

Inc

Canatom

2011 2017

Pre-2010 2014

Nuclear

Safety

Associates

2015

Today2018

(1) Decontamination and Decommissioning

8

World-scale Nuclear Services Provider

Local expertise on a global scale

Select projects around the world

Canada~6,000

USA~5,500

UK & Europe~1,600

Employees under management(1)

(1) Includes all employees within joint ventures

9

Capabilities Supporting the Nuclear Lifecycle

› Providing tailored engineering

solutions for new reactor builds

including design / build, licensing,

energy strategy and policy

› Steward of CANDU® nuclear

technology for 60+ years

› Ensuring reactors fulfill expected

life with engineering, design,

consulting, on-site services,

project management and asset

management

› Trusted vendor for government

and military services

› Offering an extensive line of

products and technology enabling

to maximize the value of nuclear

assets through refurbishment

› Includes life extension major

projects to detube / retube and

refurbish CANDU® reactors

› Field services, remediation, nuclear

fuel management, transportation and

environmental clean-up

› Industry-leading general

decommissioning contractor through

the CDI joint venture

› Recognized USA Federal Tier-1

contractor

› Reimbursable with

performance-based fee› Reimbursable service contracts › Reimbursable service contracts

Co

ntr

act

Typ

e › Reimbursable with performance-

based fee

New Builds Operations Support

Services

Life Extension and

Late Life Management

Decommissioning,

Remediation and Waste

Management

The business model is centered around reimbursable contracts and achieving performance-based incentives;

across the spectrum, SNC-Lavalin Nuclear is also protected by international regulation and contracted legal indemnities.

10

Comprehensive Products and Technology Portfolio

Fuel route engineering

CANDU® AFCR

Pump sealsSimulations

Reactor retubing

Membranes

Waste management

Liquid waste

Vitrification Waste treatment

CANDU® EC6 3D Scanning / VR

SNC-Lavalin

Atkins

Complementary portfolios of

SNC-Lavalin and Atkins providing

for broader opportunities:

› Capabilities span across new build, operating

assets, life extension, later life / clean up and

digital

Combination of extensive IP portfolios› Exclusive licensee for CANDU® reactor

technology from the Canadian government

› Total of 225 active & pending patents

Through its leading IP portfolio, SNC-Lavalin’s Nuclear sector is uniquely positioned

New Builds

Operation Support

Lifecycle Management

D&D

11

Engineering and Technical Services

Hinkley Point C Power Station

Somerset, England

New Builds

12

Fuel Channel Inspection and

Life Extension Services

Wolseong Power Plant

Gyeongju, South Korea

Operations Support Services

13

Reactor and Turbine Refurbishment Projects

Multiple Services Contracts

Darlington Nuclear Station

Ontario, Canada

Life Extension

14

Decontamination and Decommissioning

Pilgrim Nuclear Power Station

Plymouth, Massachusetts

Decommissioning

15

Environmental Clean-Up Contracts

Thorium Extraction for Cancer Treatment in Collaboration

with TerraPower

Oak Ridge

National Laboratory

Oak Ridge, Tennessee

Waste Management

Delivering robust revenue growth, predictable margins and solid cash flow conversion

Stable and Growing Revenue Base

High-visibility revenue base underpinned by long-term

nature of contracts with major utilities and government

entities

16

Resilient Business Model

As Evidenced in Financial Profile

Revenues

Segment EBIT(3)

Margin

(1) Excludes options for five additional reactors

(2) Q1 2019 EBIT margin is lower mainly due to higher than forecasted costs on an LSTK project in Canada nearing completion

(3) EBIT margin on a gross revenue basis; non-IFRS measure, additional details can be found in SNC-Lavalin’s MD&A

(4) OCF defined as segment EBIT plus segment depreciation, less lease interest payment, + / - change in non-cash working capital, + / - net change in provisions related to forecasted losses on

certain contracts, + / - net adjustments related to equity method accounting for joint ventures

(5) Conversion defined as OCF divided by segment EBIT

Consistently Achieving

High Margins

Specialized workforce and high complexity of services,

technologies translate to margins higher than typical

E&C business

Targeting Strong OCF Conversion

Achieved over 100% OCF conversion(4)(5) in last two

years – investing in growth going forward while

maintaining a high conversion rate

OPG Darlington RFR

Contract, Canada

14 yearOPG Darlington TGR

Contract, Canada

11 year

Hanford Central Plateau

Contract, US

10 yearBruce Power

Contract, Canada

4 year (1)

ITER Contract, France

15 yearSellafield Contract, UK

8 year

Hinkley Point Engineering

Contract, UK

Multi-yearDoE Oak Ridge Contract,

US

6 year

(2)

$252M $224M $242M $213M

15% 5% 13% 19%

Q4 2018 Q1 2019 Q2 2019 Q3 2019

$758M

$185M

$33M

$119M

Q3 2019

$758M

$185M

$33M

$2,035M

Q3 2019

17

Breakdown of Revenue Backlog

(1) Revenue backlog as disclosed in company filings excluding contribution from JV’s, for the period ended September 30, 2019.

(2) Revenue backlog pro-forma SNC-Lavalin’s share of CDI and Federal government JV contracts, for the period ended September 30, 2019.

Backlog by Services Backlog by Length of Contract

The nuclear revenue pipeline triples when adjusted for JVs’ share of equity method investments

$3,012M(2)$3,012M(2)

$1,095M(1)

Lifecycle

Management

Decommissioning &

Waste Management

Operations

Support

New Builds

0-1 yr

5+ yrs

1-5 yrs

Note: Charts are not to scale.

Inclu

din

g s

ha

re o

f JV

s

$1,179M

$1,153M

$680M

Q3 2019

18

Strategic Priorities

1Grow from

strengths

2Innovate to

differentiate

3Operational

excellence

19

1 Grow from Strengths Strategy across geographies

UK & Europe

› Grow existing services, building on strong customer relationships

› Collaborate with other regions to expand services offering (e.g. field services, life

extension, operational support D&D(1) and waste management)

› Grid-scale and small modular reactor new builds

ME

A

› Grow existing Federal Department of Energy – Environmental Management

business, and expand to other Federal departments

› Grow commercial D&D(1) via CDI

USA

› Grow CANDU® services through innovation & customer focus

› Flawlessly execute & maximize value from current life extension programs

› Further develop D&D(1) (CDI) and waste management leadership

› New builds: Advanced Heavy Water Reactors (AHWR) and small modular reactors

Canada

Core Markets – Secure Leading Positions for Next Decades

Rest of World – Develop from Strength

Rest of World

› Technology Sales to Asia-Pacific

› Services to Middle East

› Grow CANDU® services and technology sales

Focus on realizing significant value from our strong market positions and expanded capabilities in geographies that are investing in nuclear assets

New

Builds

Operations

Support

Life Extension

and Late-Life

Technology

Focus

D&D and Waste

Management

(1) Decontamination and Decommissioning

Major Project Pipeline Provides High Degree of Visibility

Note: Federal government and DoE contracts are typically bid as JV with partners; SNC-Lavalin receive 20% - 50% of the JV net income

(1) Isotek contract started in 2003 and will be extended to 2025

(2) Optional 4 year extension

(3) ITER contract was signed in 2010 and has been extended to 2025

In option

Under contract /

awarded / principal

proponent in negotiation$9B

$2B

In bid /

negotiation /

development>$50B

20

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034

Refurb. Bruce 3

Refurb. Bruce 4

Refurb. Bruce 5

Refurb. Bruce 7

Refurb. Bruce 8

DoE – Hanford TOC

DoE – Hanford Plateau

DoE – Legacy Management

DoE – Savannah R M&O

DoE – Oak Ridge Reservation

DoE – DUF 6

Federal Government Contract – Idaho Clean-up

Federal Government Contract – Porstmouth D&D

Federal Government Contract – West Valley

New AHWR

LEP/C1/C2

Major D&D Opportunity in Canada

Federal Government Contract – WIPP M&O

Refurb. Darlington RFR combined execution and definition

Federal Government Contract – CNEA / CNL M&O (2)

Sellafield Decommissioning Delivery Partnership (DDP)

ITER – Engage Partnership extension (3)

Refurb. Bruce 6

D&D Oyster Creek (CDI)

D&D Pilgrim (CDI)

D&D Lingen

D&D IPEC 1, 2, 3 (CDI)

D&D Palisades (CDI)

Isotek – TerraPower Partnership (1)

Hinkley Point C Program

Waste

Technology

ToolingDisruptive Technologies Digital

› Liquid waste treatment

applications

› CANDU® refurbishing tooling &

process enhancements to

reduce outage duration &

commercial risk

› High Integrity Containers (HIC)

› Joule Heated Ceramic Melter

(JHCM) bubblers (vitrification)

› Collaboration of 3D Laser

Scanning developed in UKExisting

Applications

Future

Developments

› Global application with near term

opportunities in North America;

UK & Japan

› Investigate application of tooling

for emerging D&D business (e.g.

reactor segmentation); hot cell

robotics

› Expanded portfolio of waste

containers

› Digital Twins for operational

support and Decommissioning

21

2 Innovate to Differentiate

Focus on building and fostering commercial partnerships to leverage unique technology

SATISFACTIONCUSTOMER COLLABORATE

TO WIN

SUPERIOR

EXECUTION

3 Operational Excellence

CULTURE OF

EXCELLENCE

› Enhanced Key Account

Management

› Customer Focus &

Feedback

SUCCESSTOGETHER

› Knowledge Sharing

› Capability Mapping

› 9-Box Talent Management

› Rewards & Recognition

› Integrated Strategy & Project

Pipeline

› Major Pursuit & Bidding

Process

› Services Sales Coordination

› Top Project Talent, Global

Major Projects Capability

› Services Delivery Best

Practices

› Integrated Systems

› Values & Operating Principles

Into Action

› Human Performance Program

Management

Attract and develop top talent; implement best-in-class project management processes &

tools; and enhance our client centric culture

22

23

Key Takeaways

Offering services

extending across the full

life-cycle of a nuclear asset,

from design and delivery through

its operating life, and final

decommissioning

Global nuclear leader

with ever stronger

brandspositioned to capitalize on

significant investments

unfolding over the next

decades

Technology as a

differentiator by leveraging a

substantial portfolio of over 200

patents to develop new value-

added solutions for our customers

Stable business with

strong margins and cash

flow supported by long-term

contracts with large utilities and

government entities

3 421

For nuclear power to work, it has to work for all.

Our mission is to support a more sustainable world through the lifecycle of carbon-free nuclear energy.