Stantec receives approval from TSX to renew NCIB and renews ASPP

Stantec (STN) announced that it has received approval from the Toronto Stock Exchange regarding the renewal of its Normal Course Issuer Bid, or NCIB. Pursuant to the NCIB documentation filed with the TSX, Stantec may purchase up to 2,281,339 common shares of Stantec, representing approximately 2% of Stantec’s 114,066,995 issued and outstanding Common Shares as of December 2. The purchases may commence on December 13, 2024 and will terminate no later than December 12, 2025. Except for block purchases permitted under the rules and policies of the TSX, the number of Common Shares to be purchased per day will not exceed 64,993 or approximately 25% of the average daily trading volume for the six full calendar months ending November 30, which is 259,973 Common Shares. All Common Shares purchased by Stantec will be cancelled. Stantec also announced that, in connection with its intention to implement the NCIB, Stantec has renewed its automatic share purchase plan, or ASPP, with a designated broker to allow for the purchase of its Common Shares under the NCIB, once effective, at times when Stantec normally would not be active in the market due to applicable regulatory restrictions or internal trading black-out periods. The ASPP will commence on the effective date of the NCIB and will terminate on the earliest of the date on which: the maximum annual purchase limit under the NCIB has been reached; the NCIB expires; or Stantec terminates the ASPP in accordance with its terms. The ASPP constitutes an “automatic securities purchase plan” under applicable Canadian securities laws.