SNC-Lavalin completes the transfer of sixth Canadian asset into its Infrastructure investment vehicle

MONTREAL, Feb. 7, 2022 /CNW/ - SNC-Lavalin (TSX: SNC), a fully integrated professional services and project management company with offices around the world, has announced today that it has finalized the transfer of a sixth public-private partnership (P3) asset, the InPower BC General Partnership, to the SNC-Lavalin Infrastructure Partners LP (the "Partnership") for a total cash consideration of approximately $41 million for SNC-Lavalin. InPower BC General Partnership is the entity contracted to deliver and provide services to the new John Hart Generating Station in British Columbia.

"The transfer is another great example of the success of the Partnership as it creates significant value for SNC-Lavalin and enables us to continue to efficiently redeploy capital back into new development opportunities,'' said Stéphanie Vaillancourt, President, Capital and Operations & Maintenance, SNC-Lavalin. SNC-Lavalin's Operations & Maintenance arm will continue to provide asset management services at the facility for the next 11 years.

SNC-Lavalin holds a 20% interest in the Partnership that was launched and announced on June 30, 2017. The initial closing of the first four assets was reached on September 27, 2017, with a fifth asset transfer completed on June 28, 2018.

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, technology and data 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 – and delivered to clients in key strategic sectors such as Engineering Services, Nuclear, Operations & Maintenance and Capital. News and information are available at snclavalin.com or follow us on LinkedIn and Twitter.

Forward-Looking Statements

Reference in this press release to the "Company" or to "SNC-Lavalin" means, as the context may require, SNC-Lavalin Group Inc. or all or some of its subsidiaries or joint arrangements or associates. Statements made in this press release that describe the Company's or management's expectations or strategies may be "forward-looking statements", which can be identified by the use of the conditional or forward-looking terminology such as "expects", "forecasts", "intends", "may", "objective", "plans", "projects", "should", "will", "likely", 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 future capital expenditures. 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 press release 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 2020 Annual MD&A (particularly in the sections entitled "Critical Accounting Judgments and Key Sources of Estimation Uncertainty" and "How We Analyze and Report our Results") and as updated in the first, second and third quarter 2021 MD&A each filed with the securities regulatory authorities in Canada, available on SEDAR at and on the Company's website at under the "Investors" section. 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. Those risks are identified in the Company's 2020 Annual MD&A (particularly in the sections entitled "Risk and Un certainties") and as updated in the first, second and third quarter 2021 MD&A and are not exhaustive. The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any such forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation.

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]