SNC-Lavalin announces having reached a remediation agreement with the Quebec Crown Prosecutor's Office concerning charges laid in September 2021 in connection with the Jacques Cartier Bridge project for events that occurred between 1997 and 2004

MONTREAL, May 6, 2022 /CNW Telbec/ - SNC-Lavalin (TSX: SNC), a fully integrated professional services and project management company with offices around the world, announces reaching a remediation agreement with respect to charges laid against SNC-Lavalin Inc. and SNC-Lavalin International Inc. for events that occurred between 1997 and 2004 in connection with the Jacques Cartier Bridge Refurbishment project. The financial components of the remediation agreement provide for payments totalling $29,558,777 over a period of 3 years. The remediation agreement is subject to approval by the Quebec Superior Court, which will be sought at a hearing scheduled to begin on May 10, 2022.

Contemporaneously with laying the charges, on September 23, 2021, the DPCP had invited SNC-Lavalin Inc. and SNC-Lavalin International Inc. to negotiate a remediation agreement regarding said charges.

As the Company is bound by confidentiality restrictions, it cannot comment further on this matter until judicial procedures are completed.

About SNC-Lavalin

Founded in 1911, SNC-Lavalin is a fully integrated professional services and project management company with offices around the world dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to design, deliver and operate the most complex projects. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. We deliver to clients in key strategic sectors such as Engineering Services, Nuclear, Operations & Maintenance and Capital. You can find relevant news and information at snclavalin.com or follow us on LinkedIn and Twitter.

FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements within the meaning Canadian securities laws, including statements regarding the Agreement and SNC-Lavalin's expectations regarding the likelihood, terms, conditions and timing of the anticipated final Agreement.

These statements involve substantial risks and uncertainties, including, among others, risks and uncertainties associated with negotiating final terms of the Agreement and obtaining court approval of the Agreement, there can be no assurance that the litigation will be finally resolved in accordance with the Agreement or at all.

Any forward-looking statements are made only as of the date hereof and the Company has no intention and undertakes no obligation to update or revise any of them, except as required by law.

SOURCE SNC-Lavalin

Media: Harold Fortin, Senior Director, External Communications, [email protected]; Investors: Denis Jasmin, Vice-President, Investor Relations, 514-393-8000, ext. 57553, [email protected]