1. Overview
November 2018

2. Our Guiding Principles
We value our people and our reputation. We are locally dedicated with international scale. We are future-focused and challenge the status quo. We foster collaboration in everything we do. We have an empowering culture and hold ourselves accountable.

3. We are Our Brand
And those five guiding principles or equity pillars – what really seperate us from others is reflected in our brand.
We are a young and vibrant organisation that is questioning everything, that is opened to possibilities and that believes there is exciting time aherad of us.

4. WSP is…
A global professional service firm headquartered in Canada, specializing in providing technical expertise and strategic advice to clients in the Transport & Infrastructure, Property & Buildings, Environment, Industry & Energy sectors
Approximately 44,000 employees, active in 40 countries
Generating TTM $CAD$6.0 billion in net revenues and TTM$CAD$630.5 million in adjusted EBITDA for the last 12 months ended September 30, 2018
A pure play consulting and design firm, no construction risk
Led by an experienced board & management team and supported by long term shareholders

5. A global player of approx. 44,000 professionals
Canada
8,100
Nordics
5,615
Continental
Europe
735
Asia
3,160 UK
Ireland
8,200 US
7,300
Australia
New Zealand
5,040
Central &
South America
3,100
Middle East
India
2,200
South Africa
550
As at September 30, 2018

6. A global player with attractive geographic and business mix
14%
APAC
10%
INDUSTRY & ENERGY*
18%
CANADA
Percentage of net revenues – Based on Fiscal 2017 results
*Includes Industry, Resources and Power & Energy

7. Our positioning in the infrastructure and construction value chain
EQUIPMENT SUPPLIERS
MATERIALS AND ENGINEERED PRODUCTS
WE HAVE A HORIZONTAL
FEE-FOR-SERVICE MODEL
PLANNING
DESIGN
CONSTRUCTION SERVICES (Construction/Project Management)
ARCHITECTS
CONTRACTORS AND DEVELOPERS
OPERATION AND MAINTENANCE

8. A young and experienced leadership team
ALEXANDRE L’HEUREUX
President and CEO
PAUL DOLLIN
Chief Operating Officer
BRUNO ROY
Chief Financial Officer
ROBERT OUELLETTE
Chief Corporate Services Officer
Steeve Robitaille
Chief Legal Officer and Executive Vice President, Mergers and Acquisitions
ISABELLE ADJAHI
Senior VP,
IR & Communications
HUGO BLASUTTA
Canada
GREGORY KELLY
Americas
MAGNUS MAYER
Nordics
GREG
KANE
Middle East
MARK NAYSMITH UK
GUY TEMPLETON
ANZ
DAVE MCALISTER
Transport
and Infrastructure
TOM SMITH
Property and Buildings

9. A proven and sustained performance
WSP Acquisition
PB Acquisition
NET REVENUES*
ADUSTED EBITDA* AND ADJUSTED EBITDA MARGIN*
* In millions CAD – Non-IFRS measures

10. Margin Growth Opportunity
Cost control
Operational efficiency
Profitable
revenue growth
* In millions CAD – Non-IFRS measures

11. Q Highlights

12. Q3 2018
Highlights
Solid Q3 18 financial results, with organic growth in net and strong trailing twelve-month free cash flow
Launch of the “WSP Global Cities Index”
Significant strides in our Strategic Plan that will be released at the end of January

13. Net revenues were $1.5 billion, up 14.2%
Organic growth in net revenues was strong at 4.1%
Adjusted EBITDA at $187.5 million
Adjusted EBITDA margin at 12.7%
Backlog, stood at $6.5 billion, representing approximately 9.8 months of revenues
Backlog organic growth amounted to 2.7% compared to Q3 2017

14. Strategic Plan Update 48,000 45,000 > 6.0B 6.0B ± 11.0 11.0
Once Louis Berger is closed
2018 Objective
Employees
48,000
45,000
Net Revenues (CAD)
> 6.0B
6.0B
Adjusted EBITDA Margin (%)
± 11.0
11.0

15. Our strategy

16. Our strategy
Where we compete
How we compete
Pure play consulting & design firm without construction exposure
Leading presence in Transport & Infrastructure and Property & Buildings
Focus on mature geographies with niche growth in emerging markets
Four pillars:
Growth
(M&A, organic)
People & Expertise
Operational Excellence
Clients

17. Where we compete: Advantages of diversification
Exposure to various economies and risk mitigation Opportunity to better service local and international clients Access to pool of talent Knowledge sharing Leverage best business practices Communities of practice Cross-selling opportunities Opportunity to develop professionally and international careers Lower-cost design centres

18. Growth: the benefits of consolidation
CLIETS
EXPERTISE
INTEGRATED SERVICES
SCALE
Size of project is increasing
Financial strength is an asset
Geographic and market diversification provide resilience
Ability to mobilize depth of workforce
Acquire best in class expertise
Benefit of knowledge sharing, collaboration and cross-selling
Access low cost production centers and improve competitiveness
Cover the project lifecycle with full suite of services
Offer a one-stop shop
Develop a multidisciplinary offering

19. Growth: our recipe for successful combinations
Performing and accretive companies
Complementary activities and services
Successful and respected in their fields
Strong portfolio of projects and client base
Share our vision and corporate culture 19

20. How we compete: our 2015-2018 Strategic Plan
GROWTH
$6.0B
NET REVENUES
$ 1.3B
THROUGH ACQUISITIONS 5%
ANNUAL ORGANIC GROWTH
CONSOLIDATE AND EXPAND OUR EXPERTISE IN OUR CORE SECTORS (T&I, P&B, ENV.)
OPPORTUNISTIC DEVELOPMENT IN SELECTED GEOGRAPHIES IN OTHER SECTORS
45,000
EMPLOYEES
OPERATIONAL EXCELLENCE
11%
EBITDA MARGIN
> 100%
CASH FLOW/NET INCOME
< 85 DAYS
DAYS SALES OUTSTANDING (DSO)
CLIENTS
1st
choice for all clients, large or small
10%
OF OUR REVENUES FROM GLOBAL CLIENTS
CLIETS

21. Growth: we have a well-defined road map
TODAY
FROM LOCAL TO NATIONAL, TO INTERNATIONAL
More than 100 acquisitions
Major acquisitions
WSP 9,000 people (2012)
Focus 1,800 people (2014)
Parsons Brinckerhoff 13,500 people (2014)
MMM 2,000 people (2015)
Mouchel 2,000 people (2016)
Opus 3,000 people (2017)
Louis Berger* 5,000 people (2018)
A TRULY MULTI-DISCIPLINARY FIRM
44,000 employees
(Approx. 48,000 with Louis Berger)
TTM net revenues: $6.0 B
(Louis Berger 2017 revenue: US$480M)
TTM adjusted EBITDA: $630.5 M
(Louis Berger 2017 normalized EBITDA: US$45M)
A STRATEGY OF CONTINUITY TO EXPAND OUR STRATEGIC SERVICES OFFERING TO CLIENTS
Our objectives
45,000 employees
$6.0B in net revenues ($1.3B through acquisitions)
5% annual organic growth
11% adjusted EBITDA margin
Continue to consolidate the industry to create the best professional services firm in each of our geography and sector
*Pending

22. Louis Berger RATIONALE Strengthen our presence in the US
Adds depth to our transportation team
Strengthens our expertise in sectors and services that WSP had targeted for growth (critical mass in water and environment)
Provides a gateway to the Federal Services Business
Increases our presence in Continental Europe, specifically in countries we had previously intended for growth, notably, France and Spain.
US$480M revenues and US$45M normalized EBITDA
TRANSACTION
$US400M purchase price
Mid-single digit to accretive adjusted net earnings per share before amortization of intangibles, without considering any synergies
Approximately US$15 million recurring cost synergies

23. Growth: Acquisitions will be key to our continued success
EXPANDING GEOGRAPHICALLY
ADDING SPECIFIC EXPERTISE
SUBSCALE IN CERTAIN SECTORS
EXPANDING GEOGRAPHICALLY
SUBSCALE IN CERTAIN SECTORS
TRANSPORTATION
BUILDINGS
INFRASTRUCTURE
ENVIRONMENT

24. We have the resources to grow
(in $M, CAD)
Q3 2018
Financial liabilities
$1,078.3
Less: Cash
($173.9)
Net debt
$904.4
TTM adjusted EBITDA*
$630.5
Net debt / TTM adjusted EBITDA* (adjusted for 12-month net revenues for all acquisitions)
1.4x
* In millions CAD – Non-IFRS measures

25. Capital Allocation Strategy
SOURCE OF FUNDS
Cash flows
Credit facilities
USE OF FUNDS
Working capital
Capex
Dividend payment
M&A activities
Drive M&A strategy and organic growth
Invest in employees
Return capital to shareholders

26. 2018 Outlook

27. 2018 Outlook Reiterated Net revenues*
Between $5,700 million and $5,900 million
Adjusted EBITDA*
Between $610 million and $660 million
Seasonality and adjusted EBITDA* fluctuations
Q1: 18% to 21%
Q2: 25% to 28%
Q3: 26% to 29%
Q4: 24% to 27%
Tax rate
23% to 25%
DSO*
80 to 85 days
Amortization of intangible assets related to acquisitions
Between $60 and $70 million
Capital expenditures
Between $115 and $125 million
Net debt to adjusted EBITDA*
1.5x to 2.0x1)
Acquisition and reorganization costs*
Between $40 million and $50 million 2)
* Non-IFRS measure.
1) Target excluding any debt required to finance acquisitions
2) Due mainly to personnel and real estate integration costs related to the acquisition of Opus completed in Q4 2017, to real estate integration costs pertaining to the Mouchel acquisition completed in Q and IT outsourcing program costs.

28. 2018 Regional operational outlook
NORDICS
Higher utilization rates
Mid to high single digits
CANADA
Solid backlog and good prospects
Low to mid single digit UK
Large public sector work
Low single digits
ASIA
Continued slowdown in buildings market
Negative organic growth
AMERICAS
Strong US Transportation and Infrastructure spending
Integration of POCH and ConCol to deliver synergies and improvement in operating margins
Negative organic growth in net revenues in Q due to the substantial FEMA net revenues recognized in Q4 2017
MIDDLE EAST
Difficult economic conditions
Negative organic growth
SOUTH AFRICA
Difficult economic conditions
Negative organic growth
AUSTRALIA/NEW ZEALAND
Solid transportation market
Mid to high single digits

29. In Conclusion – Why Invest in WSP?
GROWTH
Diversified and sustainable profitable growth
Strong balance sheet
Well-positioned to capitalize on mega trends
Experienced and disciplined management team
Engaged and motivated workforce
Strong people empowerment and accountability
Voluntary turnover below industry average
EMPLOYEES
OPERATIONAL EXCELLENCE
Strong expertise and industry recognition
CLIENTS
Customer first approach
Robust pipeline of projects in 2018 and beyond
CLIETS