›Investor Presentation

›March 2019

Forward-looking statementsReference in this presentation, and hereafter, to the “Company” or to “SNC-Lavalin” means, as the context may require, SNC-Lavalin Group Inc. and all or some ofits subsidiaries or joint arrangements, or SNC-Lavalin Group Inc. or one or more of its subsidiaries or joint arrangements.

Statements made in this presentation that describe the Company’s or management’s budgets, estimates, expectations, forecasts, objectives, predictions,projections of the future or strategies may be “forward-looking statements”, which can be identified by the use of the conditional or forward-looking terminology suchas “aims”, “anticipates”, “assumes”, “believes”, “cost savings”, “estimates”, “expects”, “goal”, “intends”, “may”, “plans”, “projects”, “target”, “should”, “synergies”,“vision”, “will”, 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 following: (i) future capital expenditures, revenues, expenses, earnings, economic performance,indebtedness, financial condition, losses and future prospects; and (ii) business and management strategies and the expansion and growth of the Company’soperations. All such forward-looking statements are made pursuant to the “safe-harbour” provisions of applicable Canadian securities laws. The Company cautionsthat, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions and/or results could differ materially from thoseexpressed or implied in such forward-looking statements, or could affect the extent to which a particular projection materializes. Forward-looking statements arepresented 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 thatsuch information may not be appropriate for other purposes.

Forward-looking statements made in this presentation 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 2018 Management Discussion and Analysis (MD&A). The 2019 outlook also assumes that the federalcharges laid against the Company and its indirect subsidiaries SNC-Lavalin International Inc. and SNC-Lavalin Construction Inc. on February 19, 2015, will nothave a significant adverse impact on the Company’s business in 2019. If these assumptions are inaccurate, the Company’s actual results could differ materiallyfrom those expressed or implied in such forward-looking statements. In addition, important risk factors could cause the Company’s assumptions and estimates to beinaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. These risk factors are set out inthe Company’s 2018 MD&A.

The 2019 outlook referred to in this presentation is forward-looking information and is based on the methodology described in the Company’s 2018 MD&A underthe heading “How We Budget and Forecast Our Results” and is subject to the risks and uncertainties described in the Company’s public disclosure documents. Thepurpose of the 2019 outlook is to provide the reader with an indication of management’s expectations, at the date of this presentation, regarding the Company’sfuture financial performance and readers are cautioned that this information may not be appropriate for other purposes.

Non-IFRS financial measures and additional IFRS measuresThe Company reports its financial results in accordance with IFRS. However, the following non-IFRS measures and additional IFRS measures are used by theCompany: Adjusted net income from E&C, Adjusted diluted EPS from E&C, Adjusted net income from Capital, Adjusted diluted EPS from Capital, Adjustedconsolidated diluted EPS, EBITDA, Adjusted E&C EBITDA and Segment EBIT. Additional details for these non-IFRS measures and additional measures can befound below and in SNC-Lavalin’s MD&A, which is available in the Investors section of the Company’s website at www.snclavalin.com. Non-IFRS financialmeasures do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. Managementbelieves that, in addition to conventional measures prepared in accordance with IFRS, these non-IFRS measures provide additional insight into the Company’sfinancial results and certain investors may use this information to evaluate the Company’s performance from period to period. However, these non-IFRS financialmeasures have limitations and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

2

Why invest in SNC-Lavalin

3

› Continued growth for value-added global engineering services› The world will continue to evolve in ways that no one can foresee, but engineers

will remain at the very heart of that change by designing and building projects to meet the great challenges of tomorrow, whether they be climatic, social, or resource-based

› Leadership positions in highly attractive end markets, including Canadian PPP, Rail & Transit, Nuclear and O&G sustaining capital

› Diversified business model with ability to provide comprehensive end-to-end project solutions – including financing & asset management, consulting & advisory, digital & artificial intelligence, design & engineering, procurement, construction & project management, operations & maintenance and sustaining capital

› Strong diversified backlog with tier-1 clients

› E&C business undervalued vs peers

› Strong track record of dividend

› High caliber international leadership supported by talented and dedicated team

A global fully integrated professional services & project management company leader

4

SNC-Lavalin is a global fully integrated professional services and project management company, and a major player in the ownership of infrastructure

From offices around the world,SNC-Lavalin’s employees are proud to build what matters, providing comprehensive end-to-end project solutions to clients in six industry sectors

Founded in

1911

Employees

50,000+

Revenue

~$10B

Listed on TSX

“SNC”Since 1986

Investment Grade Credit Rating1

BBB- & BBB

1 Per S&P and DBRS.

49%

24%

7%

20%

Operating in 4 regions across the world

5

Breadth of geographic exposure

Americas16,000

Europe12,000

Asia Pacific4,000

Middle East

& Africa20,000

2018 Revenues

$10.1B

Americas Middle East & AfricaAsia PacificEurope

Canada 29%USA 17%Latin America 3%

25%

22%32%

9%

4%5% 1%

2%

Nuclear

EDPM

Clean Power

37%

21%

18%

8%

5%4%

4% 3%

Nuclear

An improving diversified business model

6

2017 Revenues

Oil & Gas

Infrastructure

EDPM

Mining & Metallurgy

Capital

$9.3B

1

1 Includes only 6 months of Atkins revenues, as it was acquired on July 3, 2017.2 ~35% of Nuclear revenues relate to decontamination, decommissioning and waste management projects.

74%Reimbursable &

Engineering Service Contracts

26%EPC Fixed-

price Contracts

Clean Power

Thermal Power

2018 Revenues

Oil & Gas

Infrastructure

Mining & Metallurgy

Thermal Power Capital

$10.1B

2

Resilient business model with a well-balancedbacklog

7

73%Reimbursable &

Engineering Service Contracts

27%EPC Fixed-

price Contracts

BacklogDecember 31, 2018

Effective January 1, 2018, the Company’s definition of backlog has been changed and now corresponds to “Remaining performance obligations” (“RPO”), which is based on IFRS 15, Revenue from Contracts with Customers (“IFRS 15”), without restatement of the prior periods.

10%

56%

16%

8%

6%3%

1%

Nuclear

EDPM

Clean Power

Infrastructure

Oil & GasMining & Metallurgy

Capital

$14.9B

Redefining SNC-Lavalin

2012 - Crisis› SNC-Lavalin turns

documents to authorities› Investigations› Lawsuits› Allegations

2013 - New Beginning› Change senior leadership

& culture› Develop new strategy with

focus on growth opportunity in Resources

2014 – Expand Resources Capabilities› Kentz acquisition› Expand O&G capabilities› Grow O&G revenues from

$500M (2013) to $4B (2015)› Position SNC-Lavalin as a top 10

O&G player

2015 - Step Change and Operational Excellence› Adjust cost structure to the

resources market slowdown› Target $200M in G&A savings

& Deliver

2016-2018 - Focus› Atkins acquisition to expand

Services offering, regional breadth and Infrastructure and Nuclear expertise

› Deliver on operational excellence › Deliver a client-centric organization› Deliver a performance-driven culture

2020 - Vision› Reposition SNC-Lavalin on a path

of strong profitable growth› Balance portfolio across sectors

geography risk profile

8

Incr

ease

d fo

cus

on

Eth

ics

& C

ompl

ianc

e

New business mixNew management New Board New Culture

Administrative agreement signed with PWGSC

Agreement with the Commissioner of Canada Elections and with the Ordredes ingénieurs du Quebec

Fair and final settlement with Quebec’s Voluntary Reimbursement Program

2015 2016 2017Agreement to settle class actions brought in 2012

2018Federal Charges settlement or DPA

2.1%

4.6% 4.5%

6.9%

3.9%

7,335

9,364

8,223

9,097

9,819

2014 2015 2016 2017 2018

(in M$)

E&C revenues and adjusted earnings

9

54.9

201.9226.4

351.3

43.1

2014 2015 2016 2017 2018

(in M$)

Revenues from E&C Adjusted E&C EBITDA margin and adjusted net income

from E&C

Adjusted net income from E&C

Adjusted E&C EBITDA margin

SNC-Lavalin: a discounted share priceE&C P/E multiples vs peers

SNC-Lavalin PeersGroup

Average1

PeersGroup incl.

Canadian peersAverage2

Share price3 $35.36

Less H4074 (27.84)

Less Other Concessions4 (2.89)

Adjusted E&C price $4.63

2020 adjusted EPS from E&C consensus4 $2.40

E&C P/E multiple 1.9 10.4 11.5

1 Includes Aecom, Balfour Beatty, Fluor, Jacobs, McDermott, Wood and WorleyParsons2 Incudes peers group + Stantec and WSP3 As of market close March 18, 20194 Analysts consensus as at March 18, 2019

SNC-Lavalin’s E&C P/E multiple ~ 8 to 10 turns lower than peers

10

11

Sector of Activity

12

Comprehensive end-to-end service offering …

CapitalThrough Capital, our investment, project financing and asset management arm, we offer end-to-end capital investment services. Capital focuses on identifying and developing high-performing business opportunities across our sectors. It provides equity and debt solutions to finance projects and manages our multi-billion-dollar portfolio of infrastructure investments. With Capital, we’re broadening our business development and investment opportunities while reducing our exposure and risk through strategic collaboration with financial partners.

Consulting & AdvisoryWe help clients plan, design and enable major capital projects, as well as provide expert consultancy that covers their project’s full lifecycle. We strive to build strong relationships by understanding the challenges our clients face, sharing their vision and helping them bring this vision to life.

Digital & AIFrom digital products and tools to Internet of Things (IoT), Mobility as a Service (MaaS) and strategic digital asset management solutions, our extensive digital engineering and enterprise asset management capabilities enhance both our clients’ and our own business performance. A lean start-up methodology allows us to rapidly incubate and test innovative ideas. We’re also pushing the boundaries through the increased use of automation on projects as well as our artificial intelligence (AI) and machine learning consulting services.

Design & EngineeringOur engineers and designers provide innovative, digitally-driven services for all our sectors. From concept and feasibility through to detailed design, we develop tailored solutions to ensure sustainable projects for our clients and their customers as well as a positive end-user experience. Our sustainable engineering capabilities and full project lifecycle know-how improve energy performance and optimize operations to generate long-term savings for clients.

ProcurementOur international network of more than 500 procurement professionals in 40 countries manages $7 billion worth of goods and services annually for clients across our sectors. We strive to deliver excellence through innovative procurement solutions while respecting quality, cost and schedule requirements in an evolving sourcing market.

Construction & Project ManagementWe deliver complete lifecycle solutions for all sizes and types of projects, including public-private partnerships (P3s). Our extensive construction expertise, combined with an unwavering focus on safety and in-depth financing, engineering, procurement and operations and maintenance know-how, make us a partner of choice across a broad range of industries and markets. So does our commitment to leveraging local capabilities and ensuring cost and schedule efficiencies.

Operations & MaintenanceWe’re one of Canada’s largest operations and maintenance service providers with a presence in many parts of the world. Our services include the operations and maintenance of airports, roads, bridges and rail systems, industrial facilities, defenceand logistics support, and integrated real-estate solutions. Key differentiators include our extensive P3 expertise, around-the-clock support for mission-critical activities and focus on maximizing an asset’s lifecycle.

Sustaining CapitalWith today’s commodity volatility and record lows, companies are postponing growth capital expenditures and focusing on getting more out of their existing assets. We help clients rigorously manage their capital portfolio, providing solutions to reduce costs and drive productivity. We develop a holistic view of our clients’ assets and identify short and long-term value-driving initiatives to deliver incremental improvements that optimize their operations.

Capital Consulting& Advisory

Procurement Construction& Project

Management

Operations& Maintenance

Design& Engineering

Sustaining Capital

Digital& AI

Clean Power

13

US$300billion

US$150billion

US$100billion

US$460billion

US$1.9trillion

…in five sectors of activity with robust growth backdropGlobal Market

2017-21(1)

› Rail & Transit› Highways & Bridges› Buildings & Facilities› Environment & Geoscience

› Municipal infrastructure› Water & Wastewater

› Industrial› Airports & Aviation› Defense and Logistics› Ports & Harbours

› Heavy Oil› Offshore› LNG

› Unconventional O&G› Refining &

Petrochemicals› Gas Processing

› Sustaining Capital› Pipelines› Carbon Capture

and Utilization

› New Builds› Life Extension &

Upgrades

› Hydropower› Transmission and

Distribution

› Renewables› Energy Storage› Digital Grid Solutions

› Aluminium› Gold

› Copper› Iron Ore› Nickel

› Fertilizers› Sulphur Products

› Canada

1) Data was internally developed using multiple sources not limited to the following: Business Monitor International, Middle East Economic Digest, International Energy Agency, US Department of Energy, National and Provincial Budgets of Canada, US Congressional Budget Office, Australia Budget, National Rail budget, American Road & Transportation Builders Association, Individual company reports.

2) Build, own, operate and transfer.

Infrastructure

Oil & Gas

Mining & Metallurgy

Capital

› Select U.S. opportunities

› Other BOOT(2)

opportunities

Nuclear

› Decommissioning› Site M&O

› Waste Management Services› Operations Support

US$200billion

› Intelligent Networks and Cybersecurity

› Digital Utility Transformation

Supported by:

Name Description HeldSince

ConcessionYears

Location EquityParticipation

Highways, Bridges & Rail

1. Highway 407 (407 ETR) 108 km electronic toll road 1999 99 Canada (Ontario) 16.8%

2. InTransit BC* Rapid transit line 2005 35 Canada (B.C.) 6.7%

3. Okanagan Lake* Floating bridge 2005 30 Canada (B.C.) 20%

4. TC Dôme** 5.3 km electric cog railway 2008 35 France 51%

5. Chinook* 25 km six-lane road 2010 33 Canada (Alberta) 10%

6. 407 EDGGP 32 km H407 East extension (Phase 1) 2012 33 Canada (Ontario) 50%

7. Highway Concessions One PL Fund (Roads) 2012 9 India 10%

8. Rideau Light rail transit system 2013 30 Canada (Ontario) 40%

9. Eglinton Crosstown 19 km light rail line 2015 36 Canada (Ontario) 25%

10. SSL New Champlain bridge corridor 2015 34 Canada (Quebec) 50%

Power

11. SKH 1,227 MW gas-fired power plant 2006 23 Algeria 26%

12. InPower BC John Hart 132 MW generating station 2014 19 Canada (B.C.) 100%

Health Centres

13. MIHG* McGill University Health Centre 2010 34 Canada (Quebec) 10%

14. Rainbow* Restigouche Hospital Centre 2011 33 Canada (N.B.) 20%

Others

15. Myah Tipaza Seawater desalination plant 2008 28 Algeria 25.5%

Capital investments portfolio

NBV1 = $369M FMV2 >$5.0B

* Assets transferred into SNC-Lavalin Infrastructure Partners LP (“Partnership”) **To be sold1 Net Book Value as at December 31, 20182 Average Fair Market Value as per analysts calculations, as at March 18, 2019

14

Appendix

15

16

20162015

1.053

1.01

0.97

2014

1.106

20182017

Payout ratio* 39% 35%41%42% 73%(in $)

Dividends history

Declared dividend per share

* % of consolidated adjusted net income.

0.961

$350M Debenture› Maturity: July 2019› Interest rate: 6.19%

$300M Series 1 Debenture› Maturity: November 2020› Interest rate: 2.689%

$175M Series 3 Debenture› Maturity: March 2021› Interest rate: floating rate

$200M Series 4 Debenture› Maturity: March 2023› Interest rate: 3.235%

$150M Series 5 Debenture› Maturity: June 2019› Interest rate: floating rate

Borrower› SNC-Lavalin Highway Holdings,

non-recourse to SNC-Lavalin Group

Amount› Tranche A - $1,000M › Tranche B - $0M (the full $500M

was repaid in April 2018)› Interest rate ≈ 6.5%

Prepayment› Tranche A: non-call period of 4

years

17

Revolving & Term Facility› $2,600M revolving Facility

maturing May 2022› $3,000M uncommitted bilateral

facilities› $500M non-revolving 5-year term

loan (proceeds used to repay in full the CDPQ tranche B loan)

› Current maximum leverage ratio of 4.0

Credit facilities(recourse debt)

Debentures(recourse debt)

CDPQ loan(limited recourse debt)

Credit facilities and long-term debt

$2,288M as at December 31, 2018 $980M as at December 31, 2018

608

250208

350400

3001

208250

340

625

350400

500

150

500 500 500 5001

400

200

300

480

165

2021 2022 2024 2026 2027 2029 2030 2031 2033 2035 2036 2039 2040 2041 2042 2044 2045 2046 2047 2048 2049 2052 2053

Bond Maturity Profile(in M$)

Senior Bonds ($5.8B) Subordinated Bonds ($0.8B) Junior Bonds ($0.2B)

3.60

%

407 ETRConsistent growth and low cost of financing

135190

300

460

600680

730 750 790845

920

23 3250

77 101 114 122 126 133 142 154

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Dividends (in M$)

Total dividends paidby 407 ETR

Dividends receivedby SNC-Lavalin

4.30

% /

5.33

%

3.35

%

5.33

%

6.47

%

5.33

%

5.96

%

5.75

%

7.13

%

4.45

%

4.19

%

3.30

%

3.83

%

3.98

%

4.68

%

3.72

%

5.29

% /

6.75

%

2.43

%2,253 2,215

2,336 2,326 2,340 2,3562,437

2,517

2,6412,709 2,748

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Gross Vehicle Kilometres Travelled(in millions – KM)

3.43

%

2.47

%

3.65

%

1Issued in March 2019 18

3.14

%

3.67

%

407 ETR information

19

Year ended December 31(in M$) 2018 2017 Change

Revenues 1,390.3 1,267.7 9.7%

Operating expenses 179.7 163.9 9.6%

EBITDA 1,210.6 1,103.8 9.7%

EBITDA as a percentage of revenues 87.1% 87.1%

Net income 539.0 470.1 14.7%

736

840

985

1,104

1,211

888

1,002

1,135

1,268

1,390

2014 2015 2016 2017 2018

Total EBITDA/revenues(in M$)

EBITDA Revenues

82.9%83.8%

86.8%

87.1% 87.1%809

916

1,056

1,178

1,295

2014 2015 2016 2017 2018

Toll revenues(in M$)

Net income reconciliation – full yearNet

Income (IFRS)

Net charges (reversal) related to

restructuring & right-sizing plan and other

Acquisition-related

costs and integration

costs

Amortization of intangible

assets related to business

combinations

Net loss (gain) on disposals

of E&Cbusiness , head office and Capitalinvestments

Net expense for the 2012 class action

lawsuits settlement & related

legal costs

Impact of U.S.

corporate tax reform

Non-cash goodwill

impairment charge

Guaranteed Minimum Pension (GMP)

equalizationexpense

Adjusted Net income (Non-IFRS)

Year ended December 31, 2018In M$

E&C (1,563.0) 58.71 42.8 171.1 0.5 65.7 6.0 1,240.4 20.8 43.1

Capital 246.1 0.3 - - (59.8) - - - - 186.5

(1,316.9) 59.0 42.8 171.1 (59.3) 65.7 6.0 1,240.4 20.8 229.7

Per Diluted share ($)

E&C (8.90) 0.33 0.24 0.97 0.00 0.37 0.03 7.06 0.12 0.25

Capital 1.40 0.00 - - (0.34) - - - - 1.06

(7.50) 0.34 0.24 0.97 (0.34) 0.37 0.03 7.06 0.12 1.31

Year ended December 31, 2017In M$

E&C 176.0 25.42 97.2 112.6 (102.4) - 42.53 - - 351.3

Capital 206.0 - - - (35.0) - - - - 171.0

382.0 25.4 97.2 112.6 (137.4) - 42.5 - - 522.3

Per Diluted share ($)

E&C 1.08 0.15 0.60 0.69 (0.63) - 0.26 - - 2.15

Capital 1.26 - - - (0.21) - - - - 1.05

2.34 0.15 0.60 0.69 (0.84) - 0.26 - - 3.20

1This amount includes $6.9 million ($5.6 million after taxes) of net charges which did not meet the restructuring costs definition in accordance with IFRS.2This amount includes $5.1 million ($5.3 million after taxes) of net charges which did not meet the restructuring costs definition in accordance with IFRS.3As a result of the U.S. corporate tax reform, the Company recorded a non-cash charge reflecting the estimated net impact of revaluation of its U.S. deferred tax assets and deferred tax liabilities.

Note that certain totals and subtotals may not reconcile due to rounding

20

Firm Analyst Rec. TelAltaCorp Capital Chris Murray Buy 647-776-8246BMO Capital Markets Devin Dodge Hold 416-359-6774Canaccord|Genuity Yuri Lynk Buy 514-844-3708CIBC World Markets Jacob Bout Buy 416-956-6766Desjardins Securities Benoit Poirier Hold 514-281-8653Laurentian Bank Securities Mona Nazir Hold 647-252-5609National Bank Financial Maxim Sytchev Buy 416-869-6517Raymond James Frederic Bastien Hold 604-659-8232RBC Capital Markets Derek Spronck Buy 416-842-7833Scotia Capital Mark Neville Buy 514-350-7756TD Newcrest Michael Tupholme Buy 416-307-9389

Price as of March 18, 2019 $35.36

Shares outstanding – Diluted 175.6M

Market capitalization $6.2B

52 - week high / low $61.54 / $33.30

Dividend per share $0.10 / quarter

Dividend yield ~ 1.1%

21

Tel.: 514-393-8000 Ext. 57553E-mail: denis.jasmin@snclavalin.comwww.snclavalin.com

SNC-Lavalin

Denis JasminVice-President, Investor Relations

Market Details