Slides
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POWER & ENERGY TEACH-IN September 28, 2026
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OPENING REMARKS QUENTIN WEBER Global Head, Investor Relations
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AGENDA AGENDA AGENDA AGENDA AGENDA AGENDA AGENDA AGENDA AGENDA AGENDA AGENDA AGENDA 9:00 AM Welcome and Opening Remarks Quentin Weber, Global Head, Investor Relations Accelerating WSP’s Strategic Ambitions for Empowered Growth Alexandre L’Heureux, President and Chief Executive Officer Global Leader in Power & Energy: Capturing the Power Opportunity Michael Case, US Power & Energy Business Line Executive FIRESIDE CHAT Holger Peller, Global Director, Power and Energy Matthew Green, Senior Vice President, Integrated Planning & Advisory 10:05 AM Break 10:15 AM Solving the Grid's Most Critical Challenges & Opportunities Steve Kiser, Senior Vice President, Global Energy Sector Enabling the Next Generation of Power: Our Future Paul Compton, Senior Vice President, Project Development and Strategy, Generation Delivering Complex Programs at Scale: Our Competitive Advantage Sara Michaels, Senior Vice President, Program Management Capitalizing on Nuclear Power Karen Fritz, Senior Vice President, Nuclear Financial Update Alain Michaud, Chief Financial Officer Closing Remarks Alexandre L’Heureux, President and Chief Executive Officer 11:15 AM Q&A
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Cautionary statement Cautionary statement FORWARD-LOOKING STATEMENTS Certain information contained in this presentation are not based on historical or current facts and may constitute forward-looking statements or forward-looking information (collectively, “forward-looking statements”) under Canadian securities laws. Forward- looking statements relate to future events or future performance and may include estimates, plans, strategic ambitions, objectives, expectations, opinions, forecasts, projections, guidance, outlook or other statements that are not statements of fact. Forward-looking statements can typically be identified by terminology such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “forecast”, “project”, “intend”, “target”, “potential”, “continue” or the negative of these terms or terminology of a similar nature, including references to assumptions. Forward-looking statements made by the Corporation in this presentation include, without limitation, statements about the 2025-2027 Global Strategic Action Plan and proposed four strategic focus areas (including the 2025-2027 financial targets with respect to net revenues, adjusted EBITDA, adjusted net earnings per share, free cash flow, adjusted EBITDA margin, annual net revenue growth, annual free cash flow to net earnings attributable to shareholders); the long-term aspirations of the Corporation, including statements about achieving top tier organic growth, adjusted EBITDA margin, becoming a digital leader, doubling in size (in net revenues), leading cash position, plans to grow key markets and services; growing its project and program management service offering; management’s expectations in relation to the future performance and economic conditions and other factors in relation to power & energy demand growth and technology diversification; the expected benefits of acquisitions and their integration, including enhanced capabilities, expanded service offerings, increased client opportunities and future growth opportunities; and our aim to leverage our global scale, culture of innovation, and unified approach to optimize our operations further and elevate our client-centric experience. Forward-looking statements made by the Corporation are based on a number of operational and other assumptions believed by the Corporation to be reasonable as at the date such statements were made, including assumptions set out through this presentation and including, without limitation, the following principal assumptions about the continued growth in electricity demand driven by data centres, artificial intelligence, electrification, industrial development and energy security initiatives; the continuation of planned utility, grid modernization, transmission, distribution, generation and nuclear capital investment programs; the availability of funding and regulatory approvals for energy infrastructure projects; general economic and political conditions; economic and market assumptions regarding competition; the state of the global economy and the economies of the regions in which the Corporation operates; the state of and access to global and local capital and credit markets; interest rates; working capital requirements; the collection of accounts receivable; the Corporation obtaining new contract awards; the ability of the Corporation to attract new clients; the anticipated margins under new contract awards; the state of the Corporation’s backlog and pipeline of opportunities in various reportable segments; the capital investments made by the public and private sectors; impairment of goodwill; foreign currency fluctuation; the tax legislation and regulations to which the Corporation is subject; the expected benefits of acquisitions and the expected synergies to be realized as a result thereof; the type of contracts entered into by the Corporation; the adequate utilization of the Corporation’s workforce; the ability of the Corporation to retain current clients; changes in contract performance; project delivery; the ability of the Corporation to successfully integrate businesses; the acquisition of businesses in the future; the Corporation’s ability to manage growth; joint arrangements into which the Corporation has entered or will enter; relationships with suppliers and subconsultants; the Corporation’s ability to attract and retain qualified personnel; relationships with management, key professionals and other employees of the Corporation; external factors affecting the global operations of the Corporation; the maintenance of sufficient insurance; the management of environmental, social and health and safety risks; the sufficiency of the Corporation’s current and planned information systems, communications technology and other technology; the sufficiency of the Corporation’s cybersecurity measures; compliance with laws and regulations; future legal proceedings; the sufficiency of internal and disclosure controls; the regulatory environment; and the state of the Corporation’s benefit plans. The 2025-2027 financial targets are more specifically based on the following assumptions: (i) revenues and profits projected in the Corporation’s current backlog in its various reportable segments will be realized without any significant adjustment, with the remaining projected growth to be generated by executing our growth strategy through organic growth and mergers and acquisitions activities consistent with past practice; (ii) there will be no significant adverse changes to the competition, political and regulatory environment affecting the Corporation’s business and economic conditions of each region where it operates, the state of general market conditions and access to global and local capital and credit markets remaining substantially stable; (iii) the effective tax rate in 2025, 2026 and 2027 will fall between 25% and 29%; forecasts were prepared using tax rates enacted as of December 31, 2024, in the countries in which the Corporation currently operates; and (iv) the assumptions underlying the 2025- 2027 Global Strategic Action Plan issued on February 12, 2025 and the 2026 and quarterly financial outlook set out in WSP’s press releases dated February 25, 2026, May 6, 2026, and August 5, 2026 which are available on SEDAR+ at www.sedarplus.ca and which sections are incorporated herein by reference into this cautionary statement. If any of these assumptions prove to be inaccurate, the Corporation’s actual results or events could differ materially from those expressed or implied in forward- looking statements. In evaluating these forward-looking statements, investors should specifically consider various risk factors, which, if realized, could cause the Corporation’s actual results or events to differ materially from those expressed in, or implied by, our forward-looking statements, including the risk factors discussed in greater detail in section 20, “Risk Factors” of our MD&A for the fourth quarter and year ended December 31, 2025, and as supplemented by section 17, “Risk Factors” of our MD&A for the second quarter and the six-month period ended June 26, 2026, which are available on SEDAR+ at www.sedarplus.ca and which sections are incorporated herein by reference into this cautionary statement, as well as other risks detailed from time to time in reports filed by the Corporation with securities regulators or securities commissions or other documents that the Corporation makes public. Actual results and events may be significantly different from what we currently expect because of the risks associated with our business, industry and global economy and of the assumptions made in relation to these risks. As such, there can be no assurance that actual results will be consistent with forward-looking statements. The forward-looking statements contained in this presentation describe the Corporation’s expectations as of the date hereof and, accordingly, are subject to change after such date. Except as may be required under Canadian securities legislation, the Corporation does not assume any obligation to publicly update or to revise any forward-looking statements made in this presentation or otherwise, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement. The Corporation may also make oral forward-looking statements from time to time. The Corporation advises that the above paragraphs and the risk factors set forth in section 20, “Risk Factors” of the Corporation’s MD&A for the fourth quarter and year ended December 31, 2025, and as supplemented by section 17, “Risk Factors” of our MD&A for the second quarter and the six-month period ended June 26, 2026, should be read for a description of certain factors that could cause the actual results of the Corporation to differ materially from the results expressed or implied in any oral forward- looking statements. Readers should not place undue reliance on forward-looking statements.
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Cautionary statement (cont’d) NON-IFRS AND OTHER FINANCIAL MEASURES The Corporation reports its financial results in accordance with International Accounting Standard 34 Interim Financial Reporting. WSP uses a number of financial measures when assessing its results and measuring overall performance. Some of these financial measures are not calculated in accordance with International Financial Reporting Standards Accounting Standards ("IFRS"). Regulation 52-112 respecting Non-GAAP and Other Financial Measures Disclosure prescribes disclosure requirements that apply to the following types of measures used by the Corporation: (i) non-IFRS financial measures; (ii) non-IFRS ratios; (iii) total of segments measures; (iv) capital management measures; and (v) supplementary financial measures. In this presentation, the following non-IFRS and other financial measures may be used by the Corporation: net revenues; net revenue organic growth; adjusted EBITDA; adjusted EBITDA margin; adjusted net earnings; adjusted net earnings per share; free cash flow; and the ratio of free cash flow to net earnings attributable to shareholders. Explanations of the composition and usefulness of each of these measures can be found in section 19, “Glossary of segment reporting measures, non-IFRS and other financial measures” of WSP’s MD&A for the second quarter and the six-month period ended June 26, 2026, which section is incorporated by reference in this presentation, as posted on WSP’s website at www.wsp.com, and filed on SEDAR+ at www.sedarplus.ca. Reconciliations of such measures to the most directly comparable measure under IFRS are provided in section 8, “Financial Review” and section 9, “Liquidity” in WSP's MD&A for the fourth quarters and years ended December 31, 2025, 2024, 2023, 2022, and 2021, which sections are also incorporated by reference in this presentation, as posted on WSP’s website at www.wsp.com, and filed on SEDAR+ at www.sedarplus.ca. Management of the Corporation believes that these non-IFRS and other financial measures provide useful information to investors regarding the Corporation’s financial condition and results of operations as they provide key metrics of its performance. These non-IFRS and other financial measures are not recognized under IFRS, do not have any standardized meanings prescribed under IFRS and may differ from similar computations as reported by other issuers, and accordingly may not be comparable. These measures should not be viewed as a substitute for the related financial information prepared in accordance with IFRS. To the extent any forward-looking statement in this presentation constitutes financial outlook or future-oriented financial information within the meaning of applicable Canadian securities laws, such information is intended to provide investors with information regarding the Corporation, including the Corporation’s assessment of future financial plans, and may not be appropriate for other purposes. Financial outlook (including assumptions about future events, including economic conditions and proposed courses of action, based on the Corporation’s assessment of the relevant information currently available), as with forward-looking statements generally, is based on current estimates, expectations and assumptions and is subject to inherent risks and uncertainties and other factors. Unless otherwise indicated, all references to “$” or "C$" in this presentation are to Canadian dollars and all references to “US$” refer to United States dollars. All quarterly and future-oriented financial information disclosed in this presentation is based on unaudited figures. External Sources Where this presentation quotes any information or statistics from any external source, it should not be interpreted that WSP has adopted or endorsed such information or statistics as being accurate. Accordingly, an unavoidable level of risk remains regarding the accuracy and completeness of the information publicly filed, including with respect to facts or circumstances that would affect the completeness or accuracy of such information and which are unknown to the Corporation. Trademarks and Trade Names This presentation includes certain trademarks, including logos, and trade names which are protected under applicable intellectual property laws and are our property. Solely for convenience, our trademarks and trade names referred to in this presentation may appear without the ® or symbol, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights to these trademarks and trade names. All other trademarks and logos used in this presentation are the property of their respective owners. 5
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ACCELERATING WSP’S STRATEGIC AMBITIONS FOR EMPOWERED GROWTH ALEXANDRE L’HEUREUX President & Chief Executive Officer
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Unmatched diversification in our industry with global presence* Leading margins in our industry Healthy organic and total net revenue growth Strong cash flow generation and conversion One of the world’s leading engineering, science and infrastructure solutions firms * Based on Engineering News-Record’s (ENR) Top 225 International Design Firms list in August 2026, 7
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8 +100 New York Cities of additional electricity demand by 20301 We need to help our clients meet this moment… Why Power & Energy? Why now? 1 Based on the International Energy Agency Electricity 2026 forecasts, global demand growth is more than 3.5% per year on average through 2030; therefore, ~0.65 TW of incremental global capacity by 2030 versus New York City average yearly demand of ~5.75 GW (https://www.nyiso.com/load-capacity-data-report-gold-book-)
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9 ∼10,000 Power & Energy Team Builtfor the opportunity ahead ∼85,000* Employees Worldwide Power & Energy professionals’ presence* Employees figures as at June 26, 2026
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A global Power & Energy leader 10 DATA CENTERS INDUSTRIAL FACILITIES COMMERCIAL BUILDINGS TRANSPORT & INFRASTRUCURE MINING & METALS Deploy energy expertise into other markets
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PROJECT / PROGRAM MANAGEMENT SERVICES Power generation Substation Transmission Distribution Usage INTEGRATED PLANNING REGULATORY ADVISORY SERVICES INTEGRATED ENERGY SOLUTIONS WSP's Differentiation in Power & Energy Power Generation / Power System Studies / Transmission Services / Substations / Distribution / Advanced Energy / Integrated Grid Solutions / Environmental Services / Infrastructure / Field Services / Testing & Commissioning / Telecommunications / IT/OT Digitalization / Renewables / Storage 11
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12 DEEP TECHNICAL EXPERTISE FULL LIFE CYCLE PRESENCE GLOBAL AND SCALABLE CAPACITY PROVEN PROGRAM LEADERSHIP Our advantage is more than scale…
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13 Power and Energy Transport and Infrastructure Earth and Environment Property and Buildings …and scale magnifies our advantage
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14 Expertise creates the advantage. Scale multiplies it. Integration makes it very difficult to replicate.
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GLOBAL LEADER IN POWER & ENERGY: CAPTURING THE POWER OPPORTUNITY MICHAEL CASE US Power & Energy Business Line Executive
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AGING INFRASTRUCTURE Grid modernization & expansion GENERATION WHERE IT’S NEEDED Cost effective, dispatchable power DIGITAL AND AI REVOLUTION Powering energy intensive industries EVOLVING ECONOMIC REALITY Enhancing affordability & access to power What is driving US Power & Energy needsand opportunities? 16
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TRUSTED PARTNER TO THE TOP U.S. IOUs4 A strategic position in the U.S. Our teams are well positioned to deliver successful projects, wherever our clients need us. 17 1 Employees figures as at June 26, 2026. 2 Based on Engineering News-Record’s (ENR)Top 500 U.S. Design Firms list by Sector (Power) in April 2026, ranked according to WSP's revenues in the US for the year ended December 31, 2025 and adjusted to reflect pro forma contribution of TRC Companies (“TRC”) for the year ended December 31, 2025 as well as management estimates of pro forma revenues. 3 Based on ENR's Top 225 International Design Firms list by Market (Power) in August 2026, ranked according to WSP's revenues for the financial year ended December 31, 2025 and excluding the companies based in China. 4 U.S. investor-owned utilities. ∼ 7,000+ US P&E employees1 ENGINEERING NEWS RECORD 2026 Rankings US RANKINGS POWER21 #∼10,000 Global P&E employees1 GLOBAL RANKINGS POWER31 # TOP 225 INTERNATIONAL DESIGN FIRMS1 #
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ATTRACTIVE CLIENT BASE UTILITIES GRID & MARKET OPERATORS PROJECT DEVELOPERS EPC CONTRACTORS WSP’s Assessment of the Power Landscape Advisory Development Preconstruction Construction Operations and Maintenance Decommission and asset transition Large, complex projects. Long duration. OPPORTUNITY TO SCALE AND CROSS-SELL ACROSS THE FULL LIFECYCLE 18
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FIRESIDE CHAT HOLGER PELLER Global Director, Power & Energy MATTHEW GREEN SVP, Integrated Planning & Advisory, TRC MICHAEL CASE US Power & Energy Business Line Executive
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TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS Assembled the capabilities to address the complexities of the grid Large program capabilities enabled by deep technical expertise Engage earlier with clients and at a more strategic level Integrated end-to-end utility transformation platform
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BREAK BREAK BREAK BREAK BREAK BREAK BREAK
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SOLVING THE GRID’S MOST CRITICAL CHALLENGES & OPPORTUNITIES STEVE KISER SVP, Global Energy Sector
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Growth engines are expanding the addressable market 23 Growth is moving beyond adding more assets toward a stronger, smarter and more secure power system. Each driver creates interconnected needs across planning, permitting, engineering, delivery and operations. 01NEW GENERATION 02765 kV BACKBONE 03GRID RESILIENCY 04DIGITAL SECURITY
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EARLIER ENTRY. BROADER SCOPE. LONGER PARTICIPATION Our Differentiator: The Power to Integrate 24 Environmental and community engagement Needs analysis Feasibility studies, site due diligence and routing Commissioning Federal, State, Local permitting Engineering design Digital solutions and cyber security Construction support 1 2 3 4 5 6 7 8
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Leveraging Global Relationships Local Delivery, Enhanced by Global Expertise ▪ Strategic partnership with PowerGrid India1 unlocking 765kV ultra-high-voltage capability — a technical credential edge ▪ Global Subject Matter Expert network deployed on demand for capacity surge, specialty expertise, independent peer review and standards assurance ▪ Global Capability Center delivery model for competitive win rates 25 “An electron in the U.S. is the same as an electron in Paris, London or Sydney.” 1 WSP, Powerhouse Memorandum Increases 765kV Expertise for U.S. Grid (2025). Link.
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Position of strength in the market Strategic partner to the world's largest grid owners 261 Capex figures are in USD and reflect five-year capital plans disclosed publicly (2025–2026 guidance). 15+ years Long-standing relationships 14 of 15 are part of WSP’s Global Client Program TOP 15 POWER DELIVERY COMPANIES 5-YEAR PLANNED GRID CAPEX 1 ~$120B NORTH AMERICA ~$95B US & UK ~$95B US SOUTHEAST ~$75B US CENTRAL & EAST ~$75B NETHERLANDS & GERMANY ~$70B GLOBAL ~$70B GLOBAL ~$65B US WEST ~$65B US SOUTHEAST ~$60B NORTH AMERICA ~$50B US MID-ATLANTIC & MIDWEST ~$50B US MID-ATLANTIC ~$50B GLOBAL ~$50B GERMANY & CEN. EUROPE ~$45B US MIDWEST & MOUNTAIN
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One market teaches the next: repeatable solutions, transferred globally. Three programs. One global delivery model. 27 Long-duration client partnerships convert market demand into visible, repeatable work. $3.2B program Permitting, engineering, program management and outreach for 90 miles of underground and submarine 345/138 kV cable and three new substations. US PROPEL NY Transmission Line 339 miles HVDC Environmental, permitting and delivery support for a 1,250 MW HVDC link bringing Québec hydropower to Astoria, Queens, supplying 20% of New Y ork City power. US/CA CHAMPLAIN HUDSON Power Express Up to 11 years Five expertise areas with cross-border WSP and POWER delivery. SWEDEN SVENSKA KRAFTNÄT Frameworks + project wins
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TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS Record-setting power grid capital spend across all major markets Highly specialized market tailor-made for WSP growth Integrated platform lets us enter spend earlier and stay longer Global delivery capacity converts demand into long -term programs
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ENABLING THE NEXT GENERATION OF POWER: OUR FUTURE PAUL COMPTON SVP, Project Development and Strategy, Generation
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MULTI-DECADE GROWTH CYCLE ▪ Through 2030, power demand is projected to rise by roughly 4% each year 1 ▪ Broad-based investment across multiple technologies, including thermal generation, renewables, nuclear, and energy storage ▪ Dependable supply continues to be a central priority ▪ Commercial viability is drawing near for micro -reactor and Small-Modular reactor designs 1 International Energy Agency (IEA), Electricity 2026: Analysis and Forecast to 2030, February 2026 30 An Evolving Generation Landscape
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The New Load Stack: North America 31 AI / DATA CENTERS • Large, concentrated loads • 24/7 reliability • Speed-to-power The consequence is a larger and more durable generation build cycle: utility-scale generation + behind-the-meter power + transmission + storage + controls. Unlike the early-2000s cycle, today’s demand is broad-based across customers and sectors. RESHORING / INDUSTRY • Semiconductors • Advanced manufacturing • LNG / process loads ELECTRIFICATION • Transport • Buildings • Industrial processes GRID RELIABILITY • Coal retirements • Renewable firming • Extreme weather
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Power generation services POWER GENERATION MARKETS ▪ Firm Dispatchable Thermal Power Combined cycle, simple cycle, cogeneration, reciprocating engines ▪ Renewables Onshore / offshore wind, solar, geothermal , RNG & Hydro ▪ Energy Storage Battery energy storage, pumped hydro, hydrogen storage ▪ Nuclear Siting, Licensing and permitting, advisory services, balance of plant design, program management, safety-related services ▪ Carbon Capture Post-combustion, pre-combustion, oxy-fuel, enhanced oil recovery, front-end engineering, direct air capture POWER ENGINEERING SERVICES ▪ Project Development Preliminary engineering services, project management, preliminary project cost estimates, site feasibility assessment, preliminary project schedule, technology assessment and selection ▪ Owners Engineering (OE) Preliminary engineering and procurement project schedule, project management, selection for third party consulting firm or EPC contractor, bid package evaluation, preparation of procurement specs and bid documents ▪ Engineer of Record & Detailed Design Complete detailed engineering of all major disciplines of major thermal and renewable generation ▪ Independent Engineering Independent engineer, transaction advisor, strategic consulting, bid evaluation, due diligence 32
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What we see today 33 BATTERY STORAGE GAS-FIRED BASE POWER RENEWABLES CARBON CAPTURE DATA CENTER SWITCHYARD TRANSMISSION UTILITY GRID An Energy Management System oversees the entire macro-grid behind the meter and manages the interconnection to grid power.
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The cogeneration plant will produce low -carbon electricity for sale to the local grid. ▪ Delivering owner’s engineering for this large cogeneration project, including CO2 capture and sequestration. ▪ The plant will also be heavily duct -fired to produce a large quantity of steam to support the CO2 capture process and supply low-carbon steam to host industries. ▪ WSP provided support to the project’s grid interconnection process, technology selection, configuration optimization, FEED study, environmental permitting and technical support to negotiation of the steam and power sales agreements. Warwick Carbon Solutions 34
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Blue Energy Delivering the front end of a 2.5 GW project today ▪ First-of-a-kind gas-to-nuclear transition project for the industry ▪ 2.5 GW total: ▪ 1 GW gas ▪ 1.5 GW of SMRs ▪ Working with GEV Hitachi in partnership with Blue Energy ▪ WSP’s role includes balance -of-plant design for the power island, Nuclear Regulatory Commission licensing support, manufacturing and modularization supply chain support 35
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Guernsey Project One of the largest power development projects in the U.S. and in North America ▪ Air-cooled condensers minimizing usage of local water resources ▪ WSP provided complete detailed engineering and design services for this 1875 MW natural gas -fired combined-cycle generating station 36 3D modeled designs Three-unit single shaft combined cycle power plant More than 1,000 jobs created
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TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS Unprecedented demand growth and technology diversification supports WSP’s full complement of services WSP brings extensive thermal expertise to programs powering both data centre energy parks and utility -scale generation. Our ability to design and deliver complex energy management schemes aligns closely with the evolving needs of behind -the-meter applications. The expansion of generation driven by demand in the U.S. is a leading indicator of how we expect global demand to grow
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DELIVERING COMPLEX PROGRAMS AT SCALE: OUR COMPETITIVE ADVANTAGE SARA MICHAELS SVP, Program Management
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UTILITY CAPITAL PLANS ARE MOVING FASTER THAN FORECASTS U.S. energy utility capex, 2026 –2030 S&P Global Regulatory Research Associates, Apr 2026 $1.169T $1.295T DEC 2025 FORECAST APR 2026 FORECAST +11% in 4 mo. PROJECT SIZE GOVERNANCE NOT EVERY CAPITAL PROJECT IS CREATED EQUAL SMALL MID-SIZE MAJOR MEGA Capital plans are evolving faster than utility organizations can adapt. 39 Power sector investment is increasingly taking the form of megaprojects
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INNOVATION IN ACTION POWER360® + PIM Suite/WSP.ai AI-enabled analytics surface risks earlier and keep parallel workstreams synchronized. In addition to scale, schedule compression is adding complexity to project delivery Traditional, project management models cannot handle today's scale and complexity. 40
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The delivery model for utilities is changing OLD NEW Manageable schedules PMO to manage pipeline Predictable, normative load growth Self managed, at each stage Compressed schedules Understaffed and Under skilled Rapidly evolving, double-digit growth Strategic end-to-end solutions CAPITAL PLAN PROCUREMENT STRATEGY SCHEDULE STAFFING Utilities are looking for partners who have the scale and experience to deliver their capital programs on schedule. 41
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The New Trend in P&E INTEGRATED DELIVERY PARTNER Steering Committee Client Program Director Safety Quality Finance & Accounting Real Estate Real Estate & Right-of-Way Transmission Planning Planning Program Manager Procurement & Contracts Contract Management Material Purchasing EPC Contract Procurement Support EPC Contract Management Support Risk Management Program Integration Contract Procurement Regulatory & Environment Regulatory Community Relations Environmental Engineering Substation OE Engineering T-Line OE Engineering Engineering Management Engineering Studies Construction Environmental Monitoring Material Management Construction Management Construction Inspection Controls Cost Estimating Cost Management Schedule Management Scope Management Document Management Program Information Management Commissioning & Operations Operations & Outage Management Project Closeout Testing & Energization Project Management ◼ Client ◼ WSP 42
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Our Representative Major Program Management Engagements 43 T&I P&E $Over 20B $5-10B $0.1-5B CAPEX VALUE IN BILLIONS1 1Capex figures are in USD
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TRADITIONAL ENGINEERING ROLE ▪ Transactional, project -by-project scope ▪ Engaged after key planning decisions are already made ▪ Competitively re -bid at each phase ▪ Visibility limited to design and engineering deliverables WSP AS PROGRAM MANAGEMENT PARTNER ▪ Embedded across the full asset lifecycle ▪ A seat at the table for strategic decisions ▪ A long-term, trusted extension of the client’s own team ▪ Expanded scope and higher -value advisory services Program management evolves the client relationship This shift expands WSP’s addressable revenue per program. 44
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TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS TAKEAWAYS Utility capital spend is outrunning their ability to execute projects The scale and complexity of projects have grown beyond what the traditional execution models can handle The Integrated Delivery Partner model will help close the gap and presents an attractive revenue stream for WSP WSP is strongly positioned to support our clients due to our extensive program management experience
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CAPITALIZING ON NUCLEAR POWER KAREN FRITZ SVP, Nuclear
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Nuclear is entering a generational growth cycle 47 100+ GW CAPACITY Conservative projection for new global nuclear capacity over the next decade. Installed capacity rises more than 25%1 More capacity, faster-growing services and a step-change in capital deployment. $65B → $250B ANNUAL INVESTMENT Annual nuclear investment must roughly triple to support the global capacity ambition2 POLICY TAILWIND POLICY & PUBLIC FUNDING Public commitments of more than $250B across OECD markets and $400B+ globally, backed by the ADVANCE Act, five US executive orders and Nuclear Regulatory Commission licensing reform. 1 Global installed nuclear capacity, 395 to 494 GW - GlobalData, Nuclear Power Market Update 2025: https://www.globaldata.com/store/report/nuclear-power-market-analysis/ 2 Annual global nuclear investment, $65B to $250B - IEA, The Path to a New Era for Nuclear Energy: https://www.iea.org/reports/the-path-to-a-new-era-for-nuclear-energy
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Four nuclear centers of excellence, one global platform Anchored in four markets, each underpinned by a nuclear quality assurance program. 48 ∼150 United Kingdom ∼515 United States ∼100 Sweden ∼300 Canada NUCLEAR-EXPERIENCED PROFESSIONALS* * Employees figures as at June 26, 2026
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Integrated Nuclear Delivery Capabilities EARTH AND ENVIRONMENT POWER AND ENERGY PROPERTY AND BUILDINGS TRANSPORT AND INFRASTRUCTURE A D VI S O RY Aging infrastructures and Asset Management / Climate change and Resilience / Water Management / Digital revolution and AI / Energy Transition / Transmission Analysis / Carbon Neutrality / Advisory / Mining and Geological Repositories 49
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NUCLEAR FUEL ENRICHMENT • Front-end fuel cycle: conversion, enrichment, fabrication WSP Spans the Nuclear Lifecycle 50 Support design optimization through Kit of Parts Core Service Not nuclear-safety related Design Support (Building design, Geotech, Environmental Mix of safety related and commercial design Design, Permitting (Site, Facilities) Primarily safety-related Environment scope
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WSP designs modular solutions through our Kit-of-Parts Centre of Excellence in the UK, working with our teams around the world to design modular solutions for manufacturing and assembly. ▪ Design for Manufacturing and Assembly ( DfMA) for a Program (move away from designing for Construction for one Project) ▪ Move labour hours away from construction sites to the manufacturing shop ▪ Standardize design across regions, fewer changes Supports mass deployments required in the nuclear industry. 51 Standardizing Nuclear to Accelerate Deployment
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ALAIN MICHAUD Chief Financial Officer FINANCIAL UPDATE
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Financial update 53 Power & Energy Advanced Manufacturing Mining & Metals Water Digital Healthcare Data Centers HIGH GROWTH AREAS
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Financial update CANADA AMERICAS EMEIA APAC 54
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2027 TARGETS 5 We drive sustainable growth and a leading financial performance +40% Net revenues1 (vs 2024) +50% Adjusted EBITDA1 (vs 2024) 2024: $2.2B 2024 EBIT : $1.3B +60% Adjusted net earnings per share1,2,3 (vs 2024) 2024: $8.05 2024 NEPS4: $5.40 +70% Free cash flow1,2 (vs 2024) 2024: $884.5M 2024 CFOA4: $1.4B 1. This informationis forward-looking, based on multiple estimates and assumptions about future events. This outlook is provided to assist analysts and shareholders in forming their respective views on the year ending December 31, 2027. The reader is cautioned that using this information for other purposes may be inappropriate. Actual results may differ and such differences may be material. Refer to the section titled "Forward-Looking Statements” on pages 4 of this presentation. 2. Non-IFRS financial measure or non-IFRS ratio without a standardized definition under IFRS, which may not be comparable to similar measures or ratios used by other issuers. Referto the section titled “Non-IFRS and other financial measures” on page 5 of this presentation. 3. WSP's adjusted net earnings for the financial year ended December 31, 2024 was$1,014.9 million. 4. NEPS means basic net earnings per share attributable to shareholders. CFOA means cash inflows from operating activities. 5. Based on WSP'sfinancial yearended December 31, 2024. >$17B Net revenues1 >10% Annual net revenue growth 1 2024: 7.5% 19-20% Adjusted EBITDA margin1 2024: 18.0% >100% Annual free cash flow to net earnings attributable to shareholders 1,2 2024: 130% 2024: $12.2B 2024 REVENUE: $16.2B 55
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2027 TARGETS 5 We drive sustainable growth and a leading financial performance +40% Net revenues1 (vs 2024) +50% Adjusted EBITDA1 (vs 2024) 2024: $2.2B 2024 EBIT : $1.3B +60% Adjusted net earnings per share1,2,3 (vs 2024) 2024: $8.05 2024 NEPS4: $5.40 +70% Free cash flow1,2 (vs 2024) 2024: $884.5M 2024 CFOA4: $1.4B 1. This informationis forward-looking, based on multiple estimates and assumptions about future events. This outlook is provided to assist analysts and shareholders in forming their respective views on the year ending December 31, 2027. The reader is cautioned that using this information for other purposes may be inappropriate. Actual results may differ and such differences may be material. Refer to the section titled "Forward-Looking Statements” on pages 4 of this presentation. 2. Non-IFRS financial measure or non-IFRS ratio without a standardized definition under IFRS, which may not be comparable to similar measures or ratios used by other issuers. Referto the section titled “Non-IFRS and other financial measures” on page 5 of this presentation. 3. WSP's adjusted net earnings for the financial year ended December 31, 2024 was$1,014.9 million. 4. NEPS means basic net earnings per share attributable to shareholders. CFOA means cash inflows from operating activities. 5. Based on WSP'sfinancial yearended December 31, 2024. >$17B Net revenues1 >10% Annual net revenue growth 1 2024: 7.5% 19-20% Adjusted EBITDA margin1 2024: 18.0% >100% Annual free cash flow to net earnings attributable to shareholders 1,2 2024: 130% 2024: $12.2B 2024 REVENUE: $16.2B 56 ON TRACK ON TRACK ON TRACK ON TRACK ON TRACK ON TRACK ON TRACK ON TRACK
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CLOSING REMARKS ALEXANDRE L’HEUREUX President & Chief Executive Officer
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A LEADING COMPOUNDER DELIVERING SUSTAINABLE VALUE An era of unprecedented investment in power and energy. We are not betting on one generation technology over another. Our scale and multidisciplinary model are a true competitive advantage. Expertise creates the advantage. Scale multiplies it. Integration makes it very difficult to replicate.
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Q&A
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You can ask your questions in person by raising your hand or via the web portal appearing on the left side of your screen. Please mention your full name before asking your question. Any questions we do not get to during the meeting will be addressed after the event. 60 How to Q&A
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THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU