AtkinsRéalis awarded engineering and design services contract to develop leading Hydrogen Hub in Quebec

MONTREAL, March 25, 2024 /CNW/ - AtkinsRéalis [SNC-Lavalin Group Inc.] (TSX: ATRL), a fully integrated professional services and project management company with offices around the world, has been awarded a contract by TESCanada H2 Inc. ("TESCanada") to provide front end engineering and design services for their Projet Mauricie green hydrogen hub in Quebec.

"Energy secure and affordable Net Zero grids will be needed as we electrify a larger portion of our economies," commented Ian L. Edwards, President and Chief Executive Officer, AtkinsRéalis. "Green hydrogen provides an attractive clean energy option for hard to decarbonize sectors. We're pleased to deliver our clean energy engineering expertise to advance the green hydrogen ecosystem and ensure a successful energy transition."

TESCanada's Projet Mauricie is an innovative renewable energy initiative that aims to accelerate the energy transition by producing up to 70,000 tonnes per year of green hydrogen, which will be used to decarbonize industrial processes and heavy transportation in Quebec. The project will reduce emissions by 800,000 tonnes CO₂eq per year supporting Quebec's decarbonization objectives. As part of the project, clean electricity will largely be supplied by new, purpose-built renewable power generation including wind and solar farms totalling 1,000 MW. Expected to be commissioned in 2028, it is one of the largest clean hydrogen projects in Canada. It is also amongst the largest decarbonization projects announced in Quebec to date.¹

A multi-disciplinary AtkinsRéalis team, in collaboration with specialists from BBA, will develop project plans, an execution schedule, cost estimates, environmental impact assessments, and assist TESCanada with the permitting required for the project. AtkinsRéalis will also provide support with the technical challenges of the project, including engineering and field activities that involve geotechnical investigations and testing, as well as assist TESCanada with stakeholder and community engagement.

"We are proud to contribute our vast expertise to this innovative, Quebec-based project, that will largely self-generate its renewable electricity with behind-the-fence wind and solar plants to produce green hydrogen," said Stéphanie Vaillancourt, President, Canada, AtkinsRéalis. "Green hydrogen offers an effective solution to decarbonize heavy industrial processes and long-haul transportation as well as other sectors that are not suitable to direct electrification. We are excited to see our Canadian business positioned as a leader in hydrogen, having undertaken a significant portfolio of this work globally."

AtkinsRéalis has deep experience in the hydrogen market around the world. The Company has successfully executed projects across the UAE, UK, and US.

Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-leading professional services and project management company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. 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. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services in key regions (Canada, the United States, the United Kingdom, as well as Asia, the Middle East and Australia), Nuclear and Capital. News and information are available at www.atkinsrealis.com or follow us on LinkedIn.

Reference in this press release to the "Company" or to "AtkinsRéalis" 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 constitute "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. 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 2023 annual management disclosure & analysis ("MD&A") (particularly in the sections entitled "Critical Accounting Judgments and Key Sources of Estimation Uncertainty" and "How We Analyze and Report our Results") 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 2023 annual MD&A (particularly in the sections entitled "Risk and Un certainties") 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 AtkinsRéalis

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