<SEC-DOCUMENT>0001157523-20-000685.txt : 20200507
<SEC-HEADER>0001157523-20-000685.hdr.sgml : 20200507
<ACCEPTANCE-DATETIME>20200507060123
ACCESSION NUMBER:		0001157523-20-000685
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200507
FILED AS OF DATE:		20200507
DATE AS OF CHANGE:		20200507

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STANTEC INC
		CENTRAL INDEX KEY:			0001131383
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ENGINEERING SERVICES [8711]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32562
		FILM NUMBER:		20854351

	BUSINESS ADDRESS:	
		STREET 1:		400 10220 103 AVENUE NW
		STREET 2:		EDMONTON ALBERTA T2A 7H8 CANADA
		CITY:			EDMONTON
		STATE:			A0
		ZIP:			00000
		BUSINESS PHONE:		780-917-7000

	MAIL ADDRESS:	
		STREET 1:		400 10220 103 AVENUE NW
		CITY:			EDMONTON, ALBERTA
		STATE:			A0
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a52216520.htm
<DESCRIPTION>STANTEC INC. 6-K
<TEXT>
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    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; margin-bottom: 24pt; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">Washington, DC&#160; 20549</div>
    <div style="text-align: center; margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">Form 6-K</div>
    <div style="text-align: center;">Report of Foreign Private Issuer</div>
    <div style="text-align: center;">Pursuant to Rule 13a-16 or 15d-16 of</div>
    <div style="text-align: center; margin-bottom: 24pt;">the Securities Exchange Act of 1934</div>
    <div style="text-align: justify; margin-bottom: 12pt;">
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            <td style="width: 30%; font-family: 'Times New Roman',Times,serif; text-align: left;">
              <div style="text-align: right;">&#160;For the Month of: May, 2020 <br>
              </div>
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              <div>&#160;</div>
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              <div>Commission File Number: 001-32562</div>
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    <div style="text-align: center; font-weight: bold;">STANTEC INC.</div>
    <div style="text-align: center; margin-bottom: 12pt;">(Name of Registrant)</div>
    <div style="text-align: center; font-weight: bold;">400 &#8211; 10220 103 Avenue NW</div>
    <div style="text-align: center; font-weight: bold;">Edmonton, Alberta</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Canada T5J 0K4</div>
    <div style="text-align: center; margin-bottom: 24pt;">(Address of Principal Executive Offices)</div>
    <div style="margin-bottom: 12pt;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:</div>
    <div style="text-indent: 86.25pt; margin-bottom: 24pt;">
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              <div style="text-align: right;">&#160;Form 20-F&#160;<u>&#160;&#160;&#160;&#160; </u><br>
              </div>
            </td>
            <td style="width: 20%;">
              <div>&#160;</div>
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              <div>Form 40-F <u>&#160;&#160;X&#160; <br>
                    </u></div>
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      <font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 149.45pt"></font><u></u></div>
    <div style="margin-bottom: 12pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____</div>
    <div style="margin-bottom: 12pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____</div>
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    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">SIGNATURES</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be
      signed on its behalf by the undersigned, thereunto duly authorized.</div>
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            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" colspan="2"><strong></strong><font style="font-weight: bold;">STANTEC INC.</font></td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;" rowspan="1">&#160;</td>
            <td valign="top" colspan="2" rowspan="1">&#160;</td>
            <td valign="top" style="width: 12%;" rowspan="1">&#160;</td>
          </tr>
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            <td valign="top" style="width: 50%;" rowspan="1">&#160;</td>
            <td valign="top" colspan="2" rowspan="1">&#160;</td>
            <td valign="top" style="width: 12%;" rowspan="1">&#160;</td>
          </tr>
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            <td valign="top" style="width: 50%;" rowspan="1">&#160;</td>
            <td valign="top" colspan="2" rowspan="1">&#160;</td>
            <td valign="top" style="width: 12%;" rowspan="1">&#160;</td>
          </tr>
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            <td valign="top" style="width: 50%;"><br>
            </td>
            <td valign="top" style="width: 5%;">&#160;</td>
            <td valign="top" style="width: 33%;">&#160;</td>
            <td valign="top" style="width: 12%;">&#160;</td>
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            <td valign="top" align="left" style="width: 50%; padding-bottom: 2px;">
              <div align="left" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">Date:&#160; May 7, 2020<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 252pt"> <br>
                </font></div>
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              <div align="left" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">By: </div>
            </td>
            <td valign="top" nowrap="nowrap" align="left" style="width: 33%; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Theresa B. Y. Jang</td>
            <td valign="top" style="width: 12%; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 5%;">Name:</td>
            <td valign="bottom" nowrap="nowrap" align="left" style="width: 33%;">Theresa B. Y. Jang</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 5%;">Title: <br>
            </td>
            <td valign="top" style="width: 33%;">Executive Vice President and CFO</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
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            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 5%;">&#160;</td>
            <td valign="top" style="width: 33%;">&#160;</td>
            <td valign="top" style="width: 12%;">&#160;</td>
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    <div style="text-align: center; font-weight: bold;">EXHIBIT INDEX</div>
    <div style="text-align: center; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-weight: bold;"> <br>
    </div>
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              <div style="text-align: center;">&#160;<u>Exhibit</u></div>
            </td>
            <td style="width: 4%;">
              <div>&#160;</div>
            </td>
            <td style="width: 86%;">
              <div>&#160;<u>Description of Exhibit</u></div>
            </td>
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              <div>&#160;</div>
            </td>
            <td style="width: 4%;">
              <div>&#160;</div>
            </td>
            <td style="width: 86%;">
              <div>&#160;</div>
            </td>
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            <td style="width: 10%;">
              <div style="text-align: center;"><a href="a52216520ex99_1.htm">&#160;99.1</a></div>
            </td>
            <td style="width: 4%;">
              <div>&#160;</div>
            </td>
            <td style="width: 86%;">
              <div>&#160;<a href="a52216520ex99_1.htm">Code of Business Conduct, as amended on May 6, 2020</a></div>
            </td>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a52216520ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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            <div>&#160;</div>
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            <div style="text-align: right;">&#160;<font style="font-weight: bold;">Exhibit 99.1</font><br>
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          <td rowspan="1" style="width: 50.00%;">&#160;<img src="logo.jpg"></td>
          <td rowspan="1" style="width: 50.00%;">&#160;</td>
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          <td rowspan="1" style="width: 50%; text-align: right;">&#160;<font style="font-family: Arial; font-size: 12pt; color: rgb(245, 125, 27); font-weight: bold;"><u>Code of Business Conduct</u></font></td>
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    <div> <br>
    </div>
    <div> <br>
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    <div>
      <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt;">May 6, 2020</div>
      <div style="text-align: justify; margin-top: 24pt; font-weight: bold;">Policy</div>
      <div style="text-align: justify; margin-top: 6pt;">Stantec conducts business in accordance with high ethical, moral, and legal standards, and in the best interests of the Company, and its employees, shareholders, and other stakeholders. Stantec
        maintains business practices that will earn the respect of everyone with whom the Company conducts business.</div>
      <div style="text-align: justify; margin-top: 18pt; font-weight: bold;">Practice</div>
      <div style="text-align: justify; margin-top: 6pt; margin-bottom: 12pt;">The following standards are intended to protect the Company's reputation and the quality of its services.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Compliance Responsibilities</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Stantec&#8217;s Code of Business Conduct is to be strictly followed at all times and under all circumstances. Any violation will subject an employee to disciplinary action up to and
        including termination.</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">This Code of Business Conduct applies to all employees and is not intended to be exhaustive. The Code of Business Conduct is intended to serve as a source of guiding principles
        to ensure all operations and employees approach their work in a consistent and appropriate manner, regardless of location, entity, or job function.</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">It is vital that employees understand and comply with the Code of Business Conduct as well as recognize their continuing obligations to familiarize themselves with all Company
        policies and applicable laws that govern the work that we do.</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">If questions arise about how the Code of Business Conduct applies or how a situation involving an ethical or legal issue should be handled, employees must, without delay, contact
        corporate counsel or another of the compliance contact points listed in this Code.</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Supervisors are responsible for all Employees reporting to them and must emphasize the importance of ethical conduct and compliance as part of their routine business practice. It
        is the obligation of all supervisors to see to it that there are no violations of law or policy within their areas of responsibility.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Definitions</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 6pt;">The following words, phrases, and terms used in this Code have the following meanings:</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 6pt;">
        <div style="margin-bottom: 3pt;">
          <div>
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                  <td style="width: 17.85pt; vertical-align: top; align: right;"><font style="font-family: Times New Roman">&#9679;</font></td>
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                    <div>&#8220;Company&#8221; or &#8220;Stantec&#8221; means Stantec Inc. or any of its wholly owned subsidiaries and affiliated companies</div>
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                  <td style="width: 17.85pt; vertical-align: top; align: right;"><font style="font-family: Times New Roman">&#9679;</font></td>
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                    <div>&#8220;Employees&#8221; means any director, officer, or employee of Stantec</div>
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                  <td style="width: 17.85pt; vertical-align: top; align: right;"><font style="font-family: Times New Roman">&#9679;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>&#8220;Supervisor&#8221; means the person an employee reports to, and in the case of the president and chief executive officer and members of the board of directors, means the chair of the board of directors</div>
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      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Dollar values used in this Code are based on a North American cost of living. Anyone in a country outside of North America should reference the Stantec Code of Business Conduct
        Country Gift Limits guidance and/or contact our corporate counsel for guidance on the appropriate dollar amounts in your jurisdiction.</div>
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              <td rowspan="1" style="width: 50.00%;"><img src="logo.jpg"></td>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
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              <td rowspan="1" style="width: 50%; text-align: right;">&#160;<font style="font-family: Arial; font-size: 12pt; color: rgb(245, 125, 27); font-weight: bold;"><u>Code of Business Conduct</u></font></td>
            </tr>

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        <div>&#160;</div>
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      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Reputation</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">The reputation of Stantec is determined by how every employee presents herself or himself and conducts business. Honesty, professionalism, ethical behavior, and integrity when
        interacting with others are the cornerstones of our reputation and key to our business success. The Company succeeds in the marketplace through superior performance, not by unethical or manipulative practices.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Abiding by the Law</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Wherever Stantec operates, it will always comply with applicable laws and regulations. In acting on behalf of Stantec, no employee shall, at any time, take any action which he or
        she knows or reasonably should know to be in violation of any applicable law or regulation. No unethical or illegal act can be justified by an employee saying that the act was in the best interests of the Company or that he or she was directed to
        act by a higher level employee. Any time an employee is uncertain about the application or interpretation of a law or regulation, he or she should consult his or her supervisor or seek the opinion of any of the Company's in-house corporate counsel.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Accurate Books and Records</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">The Company requires full, fair, accurate, timely, and understandable recording and reporting of&#160;all Company accounting information. Employees must act in a manner that ensures
        all Company books, records, accounts, and financial statements are maintained in reasonable detail, accurately reflect the Company&#8217;s transactions, and conform to applicable legal requirements, accounting standards, and the Company&#8217;s system of
        internal controls.</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Employees must execute and record transactions in accordance with all internal control procedures implemented by Company management. All records, including expense reports, must
        be complete and timely and must accurately reflect each transaction or expenditure. Employees must also ensure that their timecard accurately reflects the number of hours worked on each specific project.</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Any Employee involved in preparing the Company&#8217;s disclosure documents (such as corporate filings or press releases) must produce full, fair, accurate, timely, and understandable
        disclosure in such documents.</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Employees are not to create or participate in the creation or perpetuation of any records that are intended to mislead or conceal any improper act or misconduct. Similarly, all
        legal holds must be followed, and no employee should destroy a Company record (including those in electronic form) in order to mislead or conceal any improper act or misconduct.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Conflicts of Interest</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Employees have a duty to be free from the influence of any conflicting interest when representing Stantec.&#160;In dealings with current or potential clients, subconsultants,
        suppliers, contractors, and competitors, employees should act in the best interests of the Company to the exclusion of personal advantage.</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">A conflict of interest occurs when an individual&#8217;s personal or family interests may interfere with the performance of his or her duties or with the best interests of Stantec.
        Even the appearance of a conflict of interest where none actually exists can be damaging and should be avoided. Whether or not a conflict of interest exists or will exist can be unclear. Stantec employees should not compete with Stantec and should
        never let business dealings on behalf of Stantec be influenced, or even appear to be influenced, by personal or family interests.</div>
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              <td rowspan="1" style="width: 50.00%;">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
              <td rowspan="1" style="width: 50%; text-align: right;">&#160;<font style="font-family: Arial; font-size: 12pt; color: rgb(245, 125, 27); font-weight: bold;"><u>Code of Business Conduct</u></font></td>
            </tr>

        </table>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif;"> <br>
      </div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">The following is a non-exhaustive list of circumstances which may give rise to a conflict of interest:</div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 3pt; margin-bottom: 1pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2ca683cca93347d18ec2e16d4f9ff86e">

            <tr>
              <td style="width: 35.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 17.85pt; margin-top: 3pt; margin-bottom: 1pt; font-weight: bold;"><font style="font-family: Times New Roman">&#9679;</font></div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; text-indent: 0.3pt; margin-top: 3pt; margin-bottom: 1pt; font-weight: bold;">Work Outside of Stantec</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;">Any activity that supports a competitor is prohibited. You may not be employed by (or provide consulting services to) a client, subconsultant, supplier, or contractor of
        Stantec. Any exceptions to this provision must be approved in writing by the business center managing leader and summarized and provided to the regional Human Resources manager to be placed in the employee&#8217;s personnel file.<font style="font-weight: bold;"> &#160;</font></div>
      <div style="text-align: justify; margin-left: 36pt; margin-top: 3pt; margin-bottom: 10pt;">Employment by or service on the board of a competitor or other service provider is generally discouraged and must be approved in writing by the employee&#8217;s
        supervisor.</div>
      <div style="text-align: justify; margin-left: 36pt; margin-top: 3pt; margin-bottom: 10pt;">Service on the board of a client must be approved in writing by the employee&#8217;s supervisor and general counsel.</div>
      <div style="text-align: justify; margin-left: 36pt; margin-top: 3pt; margin-bottom: 10pt;">All other requests for employment outside Stantec must be approved in writing by the supervisor, and summarized and provided to the regional Human Resources
        manager to be placed in the employee&#8217;s personnel file.<font style="font-weight: bold;"> &#160;</font></div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 3pt; margin-bottom: 1pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z19afeacd0fab405d91c1cc7b9eec4b17">

            <tr>
              <td style="width: 35.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 17.85pt; margin-top: 3pt; margin-bottom: 1pt; font-weight: bold;"><font style="font-family: Times New Roman">&#9679;</font></div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; text-indent: 0.3pt; margin-top: 3pt; margin-bottom: 1pt; font-weight: bold;">Conducting business transactions with a family member or with a business in which you have a financial interest</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="text-align: justify; margin-left: 36pt; margin-bottom: 6pt;">If you have, or intend to acquire, a financial interest that may give rise to a conflict, or if you propose to conduct Stantec business with a family member, you must seek
        written approval from your supervisor. Persons evaluating whether ownership in a business constitutes a conflict of interest will consider the following:</div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 3pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0255e09837924074a07de2167c63faa6">

            <tr>
              <td style="width: 71.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 53.85pt; margin-bottom: 3pt;">1.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; text-indent: 0.3pt; margin-bottom: 3pt;">Size and nature of the investment</div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 3pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze68db23afecc470f9089e733cc16e69f">

            <tr>
              <td style="width: 71.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 53.85pt; margin-bottom: 3pt;">2.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; text-indent: 0.3pt; margin-bottom: 3pt;">Nature of the relationship between the other entity and Stantec</div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 3pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z197c2e4c533042dbb4b04df9ede3be7d">

            <tr>
              <td style="width: 71.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 53.85pt; margin-bottom: 3pt;">3.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; text-indent: 0.3pt; margin-bottom: 3pt;">Employee&#8217;s access to confidential information</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman',Times,serif;"> <br>
          <table cellspacing="0" cellpadding="0" style="width: 100%;" class="DSPFListTable" id="z14b9e569c55949bbbc52ccb1ec8d0a1d">

              <tr>
                <td style="width: 53.85pt;"><br>
                </td>
                <td style="width: 18.15pt; font-size: 10pt;">4.</td>
                <td style="width: auto;">
                  <div style="font-size: 10pt;">Employee&#8217;s ability to influence Stantec decisions</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <br>
      <div style="text-align: justify; margin-left: 36pt; margin-top: 3pt; margin-bottom: 10pt;">Material related-party transactions will be publicly disclosed as required by applicable laws and regulations.</div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 3pt; margin-bottom: 1pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0b9e1485835441889f65b09256412c40">

            <tr>
              <td style="width: 35.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 17.85pt; margin-top: 3pt; margin-bottom: 1pt; font-weight: bold;"><font style="font-family: Times New Roman">&#9679;</font></div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; text-indent: 0.3pt; margin-top: 3pt; margin-bottom: 1pt; font-weight: bold;">Dealing with Stantec property</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;">You, or anyone with whom you do not deal at arm's length,&#160;should not buy, sell, or lease any kind of property, facilities, equipment, or service from or to Stantec, or have a
        financial interest in any such property, facilities, equipment, or service without the written approval of your supervisor.</div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 3pt; margin-bottom: 1pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5e4e1889cbef4784a8069594a12e91f3">

            <tr>
              <td style="width: 35.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 17.85pt; margin-top: 3pt; margin-bottom: 1pt; font-weight: bold;"><font style="font-family: Times New Roman">&#9679;</font></div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; text-indent: 0.3pt; margin-top: 3pt; margin-bottom: 1pt; font-weight: bold;">Dealing with Stantec Information</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;">Except in the best interests of Stantec, you should not give, release, or discuss with anyone not authorized by Stantec any data or information on Stantec activities that is
        not available to the general public, nor should you use such information for the personal advantage of your family or friends.</div>
      <div>
        <div> <br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">Page 3 of 12</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

              <tr>
                <td rowspan="1" style="width: 50.00%;"><img src="logo.jpg"></td>
                <td rowspan="1" style="width: 50.00%;">&#160;</td>
              </tr>
              <tr>
                <td rowspan="1" style="width: 50.00%;">&#160;</td>
                <td rowspan="1" style="width: 50%; text-align: right;">&#160;<font style="font-family: Arial; font-size: 12pt; color: rgb(245, 125, 27); font-weight: bold;"><u>Code of Business Conduct</u></font></td>
              </tr>

          </table>
        </div>
        <div> <br>
        </div>
        <div> <br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 3pt; margin-bottom: 1pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc4c9769170dd4081881bf99d95070f79">

            <tr>
              <td style="width: 35.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 17.85pt; margin-top: 3pt; margin-bottom: 1pt; font-weight: bold;"><font style="font-family: Times New Roman">&#9679;</font></div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; text-indent: 0.3pt; margin-top: 3pt; margin-bottom: 1pt; font-weight: bold;">Soliciting,&#160;Accepting, or Offering&#160;Gifts</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;">You may not solicit, accept, or offer gifts, favors, entertainment (including tickets to sporting, cultural events, etc.), hospitality (including meals, beverages, etc.),
        travel, preferential treatment, or other things of value (collectively, &#8220;Gifts&#8221;) from or to any person or entity that does business or seeks to do business with Stantec, except as provided below. Gifts should not be solicited or accepted from
        anyone for Stantec staff event prizes. You may not accept or offer cash (or cash equivalents, including prepaid credit cards, checks, etc.) or loans under any circumstances. You may accept or offer infrequent Gifts of nominal value within the
        normal standards of courtesy, hospitality, or protocol. Any Gifts offered must be properly recorded in Stantec&#8217;s records in accordance with our policies. No Gifts may be offered or accepted directly or indirectly (including Gifts to or from family
        members) if the Gifts exceed an aggregate value of $1,000 (Canada and United States only &#8211; see "Country Gift Limits" on StanNet for limits in other jurisdictions) to or from any individual in any 12-month period.</div>
      <div style="text-align: justify; margin-left: 36pt; margin-bottom: 6pt;">Further, no Gifts may be offered or accepted if doing so</div>
      <div>
        <div>
          <div style="text-align: justify; margin-bottom: 3pt;">
            <div>
              <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z212e56fc10704cb4b51fae0a8615c0db">

                  <tr>
                    <td style="width: 53.85pt;"><br>
                    </td>
                    <td style="width: 18.15pt; vertical-align: top; align: right;"><font style="font-family: Times New Roman">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top; text-align: justify;">
                      <div>Is unlawful</div>
                    </td>
                  </tr>

              </table>
              <div> <br>
              </div>
            </div>
          </div>
          <div style="text-align: justify; margin-bottom: 3pt;">
            <div>
              <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z48bed3428f294213a161611b1152abe2">

                  <tr>
                    <td style="width: 53.85pt;"><br>
                    </td>
                    <td style="width: 18.15pt; vertical-align: top; align: right;"><font style="font-family: Times New Roman">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top; text-align: justify;">
                      <div>Violates the stricter of Stantec's or the other party&#8217;s policies or practices (you are responsible for knowing and adhering to the rules that apply to parties you propose to offer a Gift to)</div>
                    </td>
                  </tr>

              </table>
              <div> <br>
              </div>
            </div>
          </div>
          <div style="text-align: justify; margin-bottom: 3pt;">
            <div>
              <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf0fc3e5689e7401798da2d8b949e9049">

                  <tr>
                    <td style="width: 53.85pt;"><br>
                    </td>
                    <td style="width: 18.15pt; vertical-align: top; align: right;"><font style="font-family: Times New Roman">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top; text-align: justify;">
                      <div>Obligates the recipient in any way</div>
                    </td>
                  </tr>

              </table>
              <div> <br>
              </div>
            </div>
          </div>
          <div style="text-align: justify; margin-bottom: 3pt;">
            <div>
              <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4998e72c5f4342c8828793f527191320">

                  <tr>
                    <td style="width: 53.85pt;"><br>
                    </td>
                    <td style="width: 18.15pt; vertical-align: top; align: right;"><font style="font-family: Times New Roman">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top; text-align: justify;">
                      <div>Compromises or may appear to compromise the integrity, reputation, or independence of the recipient</div>
                    </td>
                  </tr>

              </table>
              <div> <br>
              </div>
            </div>
          </div>
          <div style="text-align: justify; margin-bottom: 3pt;">
            <div>
              <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za1dc8bd232024b6684a2a045921e39d0">

                  <tr>
                    <td style="width: 53.85pt;"><br>
                    </td>
                    <td style="width: 18.15pt; vertical-align: top; align: right;"><font style="font-family: Times New Roman">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top; text-align: justify;">
                      <div>Includes air travel or overnight accommodation</div>
                    </td>
                  </tr>

              </table>
              <div> <br>
              </div>
            </div>
          </div>
          <div style="text-align: justify; margin-bottom: 3pt;">
            <div>
              <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zacb80ec601ad49c389c57dd96beb05c9">

                  <tr>
                    <td style="width: 53.85pt;"><br>
                    </td>
                    <td style="width: 18.15pt; vertical-align: top; align: right;"><font style="font-family: Times New Roman">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top; text-align: justify;">
                      <div>Includes the giving or receiving of entertainment where a representative of the company offering the Gift will not be accompanying the recipient to the event</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div style="text-align: justify; margin-top: 12pt; margin-bottom: 10pt;">
            <div>
              <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3e4aab0ffca14638b559c324b4fb4226">

                  <tr>
                    <td style="width: 53.85pt;"><br>
                    </td>
                    <td style="width: 18.15pt; vertical-align: top; align: right;"><font style="font-family: Times New Roman">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top; text-align: justify;">
                      <div>Involves a public sector employee (which is broadly interpreted to include elected or appointed representatives and employees or consultants at all levels of any municipal, state/provincial, or federal government). Subject always
                        to the policies of the party being hosted (public sector employees are often not permitted to accept Gifts), a beverage or light lunch or dinner (valued at approximately $50) incidental to a business meeting is generally acceptable.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
      </div>
      <div style="text-align: justify; margin-left: 36pt; margin-top: 3pt; margin-bottom: 10pt;">If an employee receives a gift that does not fall within these guidelines, the employee must report the gift to his or her supervisor and return it. If
        returning the gift is not practical, the employee must contact corporate counsel to determine and document how the gift will be dealt with.</div>
      <div style="text-align: justify; margin-left: 36pt; margin-top: 3pt; margin-bottom: 10pt;">By adopting these practices, Stantec chooses to avoid even the appearance of impropriety. As consultants, we owe a duty to our clients to be impartial and to
        give objective advice and recommendations. Any bias or perception of bias or favoritism must be avoided. These practices also apply to expenses personally incurred by Stantec employees, even when no reimbursement from Stantec is sought, where the
        expense was incurred to further the business interests of Stantec or the party receiving the Gift.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">Page 4 of 12</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
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      </div>
      <div style="font-family: 'Times New Roman',Times,serif;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td rowspan="1" style="width: 50.00%;"><img src="logo.jpg"></td>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
              <td rowspan="1" style="width: 50%; text-align: right;">&#160;<font style="font-family: Arial; font-size: 12pt; color: rgb(245, 125, 27); font-weight: bold;"><u>Code of Business Conduct</u></font></td>
            </tr>

        </table>
      </div>
      <div style="text-align: justify; margin-left: 36pt; margin-top: 3pt; margin-bottom: 10pt;"> <br>
      </div>
      <div style="text-align: justify; margin-left: 36pt; margin-top: 3pt; margin-bottom: 10pt;">If in doubt about the interpretation or application of this practice&#8212;including whether an individual is a &#8220;public sector employee,&#8221; the definition of
        &#8220;incidental,&#8221; etc.&#8212;check with any of Stantec&#8217;s corporate counsel before offering or accepting any Gift.&#160;</div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 3pt; margin-bottom: 1pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc785f188e93340949fb31d8cbed8508e">

            <tr>
              <td style="width: 35.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 17.85pt; margin-top: 3pt; margin-bottom: 1pt; font-weight: bold;"><font style="font-family: Times New Roman">&#9679;</font></div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; text-indent: 0.3pt; margin-top: 3pt; margin-bottom: 1pt; font-weight: bold;">Other Prohibited Conduct</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;">Offering, soliciting, accepting, or giving anything of value (including favors, confidential information, loans, discounts, job offers, kickbacks, bribes, etc.) to improperly
        influence third-party decisions is also prohibited.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Inside Information and Insider Trading</div>
      <div style="text-align: justify;">During your employment at Stantec, you may sometimes have access to information about the Company and our business partners that is not available to the general public. You are prohibited from buying or selling
        shares of any company (including Stantec) about which you possess inside information. Information is considered &#8220;inside&#8221; if it is both material and non-public. Information is &#8220;material&#8221; if it would reasonably be expected to have a significant
        effect on the market price or value of the company&#8217;s shares if it were made public. Examples of such information include, but are not limited to:</div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zaf6c08bfe4cc4ffc8b10087432e194fe">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;"><font style="font-family: Times New Roman">&#9679;</font></div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">Financial results</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z60cd75d6936d4b2eabb903740278423b">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;"><font style="font-family: Times New Roman">&#9679;</font></div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">Projections of future earnings or losses</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4708e33d19c14dd4803e0dddf286898b">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;"><font style="font-family: Times New Roman">&#9679;</font></div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">Entering into or loss of significant contracts</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8253d6f0dce54f2f93b949258b7e74e0">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;"><font style="font-family: Times New Roman">&#9679;</font></div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">Pending or proposed mergers, acquisitions, or divestitures</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z783c6fb409a84a0aa795dc306cfd5fa6">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;"><font style="font-family: Times New Roman">&#9679;</font></div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">Changes in senior management or other major personnel changes</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">Information is &#8220;non-public&#8221; if it has not been previously disclosed to the general public and is otherwise not available to the general public.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">For more information, please refer to Stantec&#8217;s Insider Trading Prohibition Policy.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Dealing with Each Other</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Stantec recognizes that workplace diversity is an essential ingredient to our success. Stantec understands that effective relationships are based on the recognition of the value
        and worth of each individual and that it is necessary to provide a working climate that is conducive to the success and well-being of all employees.</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Stantec works to create an atmosphere of mutual trust and respect by being honest, fair, and consistent. Stantec treats all employees fairly and impartially and strives to
        consistently follow Company policies and practices. Stantec employees listen to one another and foster open and&#160;honest communications. Stantec values the opinion of employees, respects their diverse backgrounds, encourages communication among
        Employees, and solicits ideas and suggestions to improve or benefit the Company.</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 6pt;">Stantec prohibits the use by its employees of any social or other media to post or display comments about coworkers, supervisors, clients, or the Company that (non-exhaustively)</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 6pt;">
        <div style="margin-bottom: 3pt;">
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5fb47339a0794c5daa353b24f9e536e7">

                <tr>
                  <td style="width: 17.85pt;"><br>
                  </td>
                  <td style="width: 17.85pt; vertical-align: top; align: right;"><font style="font-family: Times New Roman">&#9679;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>Are vulgar, obscene, threatening, intimidating, harassing</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div style="margin-top: 12pt; margin-bottom: 3pt;">
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za0c7487392e7409d88f958c26aec906a">

                <tr>
                  <td style="width: 17.85pt;"><br>
                  </td>
                  <td style="width: 17.85pt; vertical-align: top; align: right;"><font style="font-family: Times New Roman">&#9679;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>Portray the Company or individuals in a negative light</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div style="margin-top: 12pt; margin-bottom: 6pt;">
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf405f3fa56054b16bc33e08fa5e35650">

                <tr>
                  <td style="width: 17.85pt;"><br>
                  </td>
                  <td style="width: 17.85pt; vertical-align: top; align: right;"><font style="font-family: Times New Roman">&#9679;</font></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>Are a violation of other workplace policies against discrimination, harassment, and violence Posting or displaying such comments could result in disciplinary action being taken against an&#160;employee.</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">Page 5 of 12</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
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      </div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td rowspan="1" style="width: 50.00%;"><img src="logo.jpg"></td>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
              <td rowspan="1" style="width: 50%; text-align: right;">&#160;<font style="font-family: Arial; font-size: 12pt; color: rgb(245, 125, 27); font-weight: bold;"><u>Code of Business Conduct</u></font></td>
            </tr>

        </table>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif; font-weight: 400;"> <br>
      </div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Dealing with Shareholders</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Stantec is committed to protecting and improving shareholder value through the prudent use of&#160;Company resources and by observing high standards of legal and ethical conduct in
        all its business dealings. The Company communicates with shareholders regularly, candidly, and promptly, providing the information necessary to evaluate its management and investment value.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Dealing with Clients</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Serving clients is the essence of Stantec's business. Meeting our clients' expectations and providing good value are the best ways to ensure ongoing demand for our services.
        Stantec will accurately represent its services and clearly communicate the terms under which these services are provided.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Dealing with Subconsultants and Suppliers</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Stantec is committed to the fair treatment of subconsultants and suppliers and will select subconsultants and suppliers who provide the best value for the Company and its clients
        while also respecting its clients' wishes.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Proprietary Information Belonging to the Company</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Employees must maintain the confidentiality of the Company&#8217;s proprietary information. Examples of proprietary information include strategic plans, client lists, marketing plans,
        rate tables, and much of the technical information that the Company generates or uses in its business. The disclosure or misuse of Stantec's business information can harm the Company's competitive position and/or reputation and may be a violation
        of applicable laws. Employees, therefore, must not disclose business information outside the Company unless they are authorized and it is legal to do so.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Proprietary Information of Others</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Stantec regularly receives proprietary information from its clients, subconsultants, and suppliers. The wrongful possession or use of any proprietary information of any third
        party is prohibited. Employees may use lawfully obtained proprietary information only for the purpose for which it is provided. If an employee is offered, or comes into, unauthorized possession of third-party proprietary information, the employee
        must decline the offer and take appropriate steps, if applicable, to return the information. Employees are prohibited from using any proprietary information obtained from prior employers.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Improper Payments</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">No payment will be made by, or improper benefit conferred on behalf of, the Company either directly or indirectly to government officials, political candidates, or officers or
        employees of clients, subcontractors, suppliers, or competitors that violates applicable laws. Bribes, facilitation payments, and trading in influence are strictly prohibited. Employees should familiarize themselves with Stantec's&#160;Anti-Corruption
        Policy.</div>
      <div style="margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Personal Business</div>
      <div style="margin-top: 3pt; margin-bottom: 10pt;">Personal business should not be conducted during normal working hours.&#160;Any and all personal business activities should be confined to after hours or lunch breaks and should be consistent with this
        Code of Business Conduct, paying particular attention to the Conflicts of Interest section, Work Outside of Stantec subsection.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">Page 6 of 12</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
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      </div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td rowspan="1" style="width: 50.00%;"><img src="logo.jpg"></td>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
              <td rowspan="1" style="width: 50%; text-align: right;">&#160;<font style="font-family: Arial; font-size: 12pt; color: rgb(245, 125, 27); font-weight: bold;"><u>Code of Business Conduct</u></font></td>
            </tr>

        </table>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif; font-weight: 400;"> <br>
      </div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Hiring Former Government Employees</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Employees must comply with all laws and regulations pertaining to employing or acquiring the services of present and former government employees. These rules apply to discussions
        with current government employees regarding potential employment by the Company or retaining such individuals in the capacity of consultant or subcontractor. These rules also restrict the roles and responsibilities that former government employees
        may perform after joining the Company.&#160; Any questions regarding activity which may create a conflict of interest should be raised immediately with corporate counsel.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Legal Processes, Investigations, and Audits</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Occasionally, the Company may need to respond to inquiries, audits, or investigations imposed by outside entities or government authorities. It is required that employees bring
        all investigations and audits to the attention of corporate counsel immediately upon receipt of information, indicating that an inquiry, audit, or investigation by any outside entity or any government authority has commenced or is likely to
        commence and, in any event, prior to engaging with or providing any type of information or response. It is important to remember that penalties and fines can be imposed due to failure to respond, incorrect responses, and delays.</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 6pt;">The following are examples of occurrences that must be brought immediately to the attention of corporate counsel:</div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 3pt; margin-bottom: 3pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z67634a8f9b1c43ae8b37b755146d6d50">

            <tr>
              <td style="width: 35.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 17.85pt; margin-top: 3pt; margin-bottom: 3pt;">1.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; margin-top: 3pt; margin-bottom: 3pt;">Notification of an inquiry, audit or investigation</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 3pt; margin-bottom: 3pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z66910d2d56ea44cc9ccf321d20200e9f">

            <tr>
              <td style="width: 35.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 17.85pt; margin-top: 3pt; margin-bottom: 3pt;">2.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; margin-top: 3pt; margin-bottom: 3pt;">Request to appear or testify before a governmental or quasi-governmental agency, commission, legislative, or administrative body</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 3pt; margin-bottom: 3pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf6f1032c8bfa4dc0969a43eaf5544cef">

            <tr>
              <td style="width: 35.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 17.85pt; margin-top: 3pt; margin-bottom: 3pt;">3.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; margin-top: 3pt; margin-bottom: 3pt;">Subpoenas or requests for documentation, interviews, on-site visits, or inspections</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 3pt; margin-bottom: 3pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc33cd4fb372d449c869ed5b98a4764ce">

            <tr>
              <td style="width: 35.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 17.85pt; margin-top: 3pt; margin-bottom: 3pt;">4.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; margin-top: 3pt; margin-bottom: 3pt;">Summons or complaints served on the Company</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 3pt; margin-bottom: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfdf4281408134389af6f4d3ed2911d7a">

            <tr>
              <td style="width: 35.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 17.85pt; margin-top: 3pt; margin-bottom: 10pt;">5.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Notification of fines, penalties, or injunctive actions</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">It is the policy of Stantec to cooperate fully with inquiries and investigations to the greatest extent possible. Knowledge of any investigation, even those that may appear
        focused on a supplier, subcontractor, client, or other Stantec-related party, must be communicated to corporate counsel immediately.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Reporting Concerns</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Employees who become aware of any concerns about accounting, internal controls, auditing, or other financial or nonfinancial matters, including violations of applicable laws,
        regulations, or internal policies,&#160;must report such issues to the Company&#8217;s Integrity Hotline.&#160;In the event that such an issue is brought to the attention of a Stantec employee, that person&#160;must refer the issue to the Integrity Hotline.&#160;</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Stantec&#8217;s Integrity Hotline is managed by an independent third party. The Hotline is structured to receive information verbally, by a web interface, or in writing, and all
        reports are treated as confidential.&#160;Requests for anonymity will be honored to the extent possible while still ensuring a full and proper investigation.&#160;It is important that anonymous reports contain sufficient detail for an investigation.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">Page 7 of 12</font></div>
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      </div>
      <div style="margin-top: 3pt; margin-bottom: 6pt;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td rowspan="1" style="width: 50.00%;"><img src="logo.jpg"></td>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
              <td rowspan="1" style="width: 50%; text-align: right;">&#160;<font style="font-family: Arial; font-size: 12pt; color: rgb(245, 125, 27); font-weight: bold;"><u>Code of Business Conduct</u></font></td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 3pt; margin-bottom: 6pt;"> <br>
      </div>
      <div style="margin-top: 3pt; margin-bottom: 6pt;">Integrity Hotline numbers and address:</div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z97ef97579f8d4f589e725c8eb672fe9e">

            <tr>
              <td style="width: 35.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 17.85pt; margin-bottom: 10pt;"><font style="font-family: Times New Roman">&#9679;</font></div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-indent: 0.3pt; margin-bottom: 10pt;">The Integrity Hotline Phone Numbers &#8211;</div>
              </td>
            </tr>

        </table>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zf9e0a366f61a444791f4607d039a2a7a">

          <tr>
            <td style="width: 13.56%; vertical-align: top; background-color: #FDE9D9; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Country</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; background-color: #FDE9D9; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Phone Number</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; background-color: #FDE9D9; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Languages Spoken</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">United States, Canada, and Puerto Rico</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Dial</u></font>: From an outside line, dial direct for your location:&#160; 1-855-389-9170</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>English, French, Spanish</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Argentina</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Access</u></font>: From an outside line, dial the direct access number for your location:</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Argentina (Argentina Telecom): 0-800-555-4288</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Argentina (Telefonica): 0-800-222-1288</div>
              <div>At the <font style="font-style: italic;">English</font> prompt, dial 855-389-9170.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Spanish (Latin American), English</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Australia</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>International Toll-Free Service (ITFS)</u></font><font style="font-style: italic;">: </font>From an outside line, dial the ITFS number for your location: 1-800-79-2097</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>English</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Bahrain</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Access</u></font><font style="font-style: italic;">:</font> From an outside line, dial the direct access number for your location:</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Bahrain (US military bases): 800-000-00</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Bahrain: 800-00-001</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Bahrain (Cellular): 800-000-05</div>
              <div>At the <font style="font-style: italic;">English</font> prompt, dial 855-389-9170.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Arabic, English</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Barbados</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Reverse Charge Calls / Collect Calls</u></font><font style="font-style: italic;">:</font> From an outside line, contact your local operator.</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Request a <u>reverse charge or collect call to be placed</u> to the United
                States:&#160; 503-444-4000</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>All reverse charge or collect calls will be accepted by the Contact Center
                using an automated <font style="font-style: italic;">English</font> message.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>English, Arabic</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Belgium</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Access</u></font><font style="font-style: italic;">: </font>From an outside line, dial the direct access number for your location:&#160; 0-800-100-10</div>
              <div>At the <font style="font-style: italic;">English</font> prompt, dial 855-389-9170.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Dutch, French (European), German, English</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Brunei</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Access</u></font><font style="font-style: italic;">: </font>From an outside line, dial the direct access number for your location:&#160; 800-1111</div>
              <div>At the <font style="font-style: italic;">English</font> prompt, dial 855-389-9170.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Malay, English</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Chile</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Access</u></font><font style="font-style: italic;">: </font>From an outside line, dial the direct access number for your location:</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Chile (Telemax): 800-225-288</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Chile (Telefonica): 800-800-288</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Chile (ENTEL): 800-360-311</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Chile (ENTEL &#8211; Spanish Operator): 800-360-312</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Chile (Easter Island): 800-800-311</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Chile (Easter Island &#8211; Spanish Operator): 800-800-312</div>
              <div>At the <font style="font-style: italic;">English</font> prompt, dial 855-389-9170.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Spanish (Latin American), English</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">Page 8 of 12</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td rowspan="1" style="width: 50.00%;"><img src="logo.jpg"></td>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
              <td rowspan="1" style="width: 50%; text-align: right;">&#160;<font style="font-family: Arial; font-size: 12pt; color: rgb(245, 125, 27); font-weight: bold;"><u>Code of Business Conduct</u></font></td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 13.56%; vertical-align: top; background-color: #FDE9D9; border-bottom: #000000 2px solid;">
                <div style="font-weight: bold;">Country</div>
              </td>
              <td style="width: 66.71%; vertical-align: top; background-color: #FDE9D9; border-bottom: #000000 2px solid;">
                <div style="font-weight: bold;">Phone Number</div>
              </td>
              <td style="width: 19.72%; vertical-align: top; background-color: #FDE9D9; border-bottom: #000000 2px solid;">
                <div style="font-weight: bold;">Languages Spoken</div>
              </td>
            </tr>

        </table>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">China</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Access</u></font><font style="font-style: italic;">: </font>From an outside line, dial the direct access number for your location:</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>China (Southern): 10-811</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>China (Northern): 108-888</div>
              <div>&#160;</div>
              <div>At the <font style="font-style: italic;">English</font> prompt, dial 855-389-9170.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Mandarin, Cantonese, English</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Ethiopia</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Reverse Charge Calls / Collect Call</u></font><font style="font-style: italic;">: </font>From an outside line, contact your <u>local</u> operator.</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;"><font style="font-style: italic;">&#10146;</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Request a<u> reverse charge or
                  collect call to be placed</u> to the United States:&#160; 971-371-7833</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>All <u>reverse charge or collect calls will be accepted</u> by the Contact
                Center using an automated <font style="font-style: italic;">English</font> message.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Amharic (Ethiopian), English</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Fiji Islands</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Reverse Charge Calls/Collect Call:</u></font> From an outside line, contact your local operator.</div>
              <div style="margin-top: 8pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>&#160;Request a <font style="font-style: italic;"><u>reverse charge or collect
                    call</u></font><u> to be placed</u> to the United States: 503-444-4000</div>
              <div>All reverse charge or collect calls will be accepted by the Contact Center using an automated <font style="font-style: italic;">English</font> Message.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>English</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">India</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Access:</u></font><font style="font-style: italic;">&#160;</font>From an outside line, dial the direct access number for your location:&#160; 000-117</div>
              <div>At the <font style="font-style: italic;">English</font> prompt, dial 855-389-9170.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>English, Hindi</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">Italy </font><font style="font-style: italic;">(includes San Marino, Vatican City)</font></div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>International Toll-Free Service (ITFS)</u></font><font style="font-style: italic;">:</font> From an outside line, dial the ITFS number for your location: 800-172418</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Italian, English</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Malaysia</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Access</u></font><font style="font-style: italic;">: </font>From an outside line, dial the direct access number for your location: 1-800-80-0011</div>
              <div>At the <font style="font-style: italic;">English</font> prompt, dial 855-389-9170.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Malay, English</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Netherlands</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Global Inbound Services (GIS): From an outside line dial the direct access number for your location: 08000200028</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Dutch, English</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">New Zealand</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Global Inbound Services (GIS): From an outside line dial the direct access number for your location: 0508974209</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>English</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Pakistan</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Access</u></font>: From an outside line, dial the direct access number for your location:&#160; 00-800-01-001</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Not available from cellular phones</div>
              <div>At the <font style="font-style: italic;">English</font> prompt, dial 855-389-9170.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Punjabi, Urdu, English</div>
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Panama</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Access</u></font><font style="font-style: italic;">: </font>From an outside line, dial the direct access number for your location:&#160; 800-0109</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>(Spanish Operator): 800-2288</div>
              <div>At the <font style="font-style: italic;">English</font> prompt, dial 855-389-9170.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Spanish (Latin American), English</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">Page 9 of 12</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td rowspan="1" style="width: 50.00%;"><img src="logo.jpg"></td>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
              <td rowspan="1" style="width: 50%; text-align: right;">&#160;<font style="font-family: Arial; font-size: 12pt; color: rgb(245, 125, 27); font-weight: bold;"><u>Code of Business Conduct</u></font></td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 13.56%; vertical-align: top; background-color: #FDE9D9; border-bottom: #000000 2px solid;">
                <div style="font-weight: bold;">Country</div>
              </td>
              <td style="width: 66.71%; vertical-align: top; background-color: #FDE9D9; border-bottom: #000000 2px solid;">
                <div style="font-weight: bold;">Phone Number</div>
              </td>
              <td style="width: 19.72%; vertical-align: top; background-color: #FDE9D9; border-bottom: #000000 2px solid;">
                <div style="font-weight: bold;">Languages Spoken</div>
              </td>
            </tr>

        </table>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Peru</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Access</u></font>: From an outside line, dial the direct access number for your location:</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Peru (Telef&#243;nica) &#8211; Spanish Operator): 0-800-50-000</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Peru (Telef&#243;nica) : 0-800-50-288</div>
              <div>At the <font style="font-style: italic;">English</font> prompt, dial 855-389-9170.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Spanish (Latin American), English</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Qatar</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Reverse Charge and Collect Calls</u></font><font style="font-style: italic;">:</font> From an outside line, contact your local operator.</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Request a <u>reverse charge or collect call to be placed </u>to the United
                States:&#160; 503-444-4000</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>All reverse charge or collect calls will be accepted by the Contact Center
                using an automated <font style="font-style: italic;">English</font> message.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>English, Arabic</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Saudi Arabia</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Access</u></font>: From an outside line, dial the direct access number for your location: 1-800-10</div>
              <div>At the <font style="font-style: italic;">English</font> prompt, dial 855-389-9170.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>English, Arabic</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Taiwan</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Access</u></font><font style="font-style: italic;">: </font>From an outside line, dial the direct access number for your location: 00-801-102-880</div>
              <div>At the <font style="font-style: italic;">English</font> prompt, dial 855-389-9170.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Mandarin, English</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">Turkey</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Access</u></font><font style="font-style: italic;">: </font>From an outside line, dial the direct access number for your location:&#160; 0811-288-0001</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>Not available from cellular phones</div>
              <div>At the <font style="font-style: italic;">English</font> prompt, dial 855-389-9170.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>Turkish, English</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">United Arab Emirates</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>Direct Access</u></font>: From an outside line, dial the direct access number for your location:</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>United Arab Emirates (du): 8000-555-66</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>United Arab Emirates: 8000-021</div>
              <div style="margin-top: 2pt; text-indent: 9.05pt;">&#10146;<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt" id="TRGRRTFtoHTMLTab">&#160;</font>United Arab Emirates (US military base, USO and cellular): 8000-061</div>
              <div>At the <font style="font-style: italic;">English</font> prompt, dial 855-389-9170.</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>English, Arabic</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.56%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="font-weight: bold;">United Kingdom</div>
            </td>
            <td style="width: 66.71%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div><font style="font-style: italic;"><u>International Toll-Free Service (ITFS)</u></font><font style="font-style: italic;">:</font> From an outside line, dial the ITFS number for your location: 0808-234-3434</div>
            </td>
            <td style="width: 19.72%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>English</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 3pt;"><br>
      </div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">The Integrity Hotline Web Intake &#8211; www.stantec.ethicspoint.com</div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 10pt; margin-bottom: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0008f327570e46dc81e5a1f41dbfd238">

            <tr>
              <td style="width: 35.7pt; vertical-align: top; align: right;">
                <div style="margin-left: 17.85pt; margin-top: 10pt; margin-bottom: 6pt;"><font style="font-family: Times New Roman">&#9679;</font></div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; margin-top: 10pt; margin-bottom: 6pt;">The Integrity Hotline Address:</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-left: 56.7pt; margin-bottom: 10pt;">Integrity Hotline<br>
        c/o Stantec<br>
        #400, 10220 &#8211; 103 Avenue N.W.<br>
        Edmonton, AB&#160; T5J 0K4</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">If issues that have been reported to the Integrity Hotline are not clarified or otherwise dealt with to the satisfaction of the employee, that employee may file a complaint. To
        ensure a correct understanding of the matters subject to the complaint, the complaint should be filed with the Integrity Hotline in writing (although the complaint may be made verbally to the Integrity Hotline if the person making the complaint
        prefers), should be as specific as possible, and should identify any relevant documents. In order that prompt action can be taken, the complaint should be filed as soon as possible.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">Page 10 of 12</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td rowspan="1" style="width: 50.00%;"><img src="logo.jpg"></td>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
              <td rowspan="1" style="width: 50%; text-align: right;">&#160;<font style="font-family: Arial; font-size: 12pt; color: rgb(245, 125, 27); font-weight: bold;"><u>Code of Business Conduct</u></font></td>
            </tr>

        </table>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif;"> <br>
      </div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">If the complaint has been made verbally to the Integrity Hotline, it will be reduced to writing. If the person making the complaint does not wish to maintain anonymity, the
        complaint may be submitted to the employee's immediate supervisor. Any supervisor who receives a complaint must forward the complaint to the Integrity Hotline. The complaint may also be submitted directly to the chair of the Audit and Risk
        Committee.</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">The chair of the Audit and Risk Committee is Shelley A. M. Brown, and she can be contacted at (604)&#160;417&#8209;8548 or by email at shelleybrown@deloitte.ca</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Commencement of Process</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">If the nature of the complaint is material to the affairs of the Company or involves any officer of&#160;Stantec Inc., then the issue shall immediately be reported to the chair of the
        Audit and Risk Committee who shall appoint a fact finder (who may be the general counsel or any other person designated by the chair of the Audit and Risk Committee) to investigate the complaint and issue a fact-finding report.&#160;The fact finder must
        be independent and must not be a manager, directly or indirectly, of either the individuals involved in the matters complained of or the individual making the complaint. All other complaints will be investigated by the general counsel or his or her
        designate.</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">The&#160;general counsel&#160;shall prepare a quarterly report to the Audit and Risk Committee summarizing the nature and disposition of all complaints received by the Integrity Hotline;
        this report will include an overview of any ongoing investigations or the resolution of any complaints.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Confidentiality</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">Confidentiality&#8212;relating both to the fact that a complaint has been made and to its investigation of employee complaints&#8212;will be maintained to the greatest extent possible. Only
        persons with a reason to know will have access to information relating to the complaint and its investigation.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Fact-Finding</div>
      <div style="text-align: justify; margin-top: 6pt; margin-bottom: 1pt; font-style: italic; font-weight: bold;">Investigation</div>
      <div style="text-align: justify; margin-bottom: 10pt;">The fact finder and/or general counsel will investigate all matters brought to the Integrity Hotline, such investigation to include interviews of persons who may have information concerning the
        matters in issue. The fact finder and/or general counsel will have access to all relevant information and documents. The fact finder and/or general counsel will complete the investigation and the delivery of the fact-finding report as soon as
        practicable after the receipt of the complaint.</div>
      <div style="text-align: justify; margin-top: 6pt; margin-bottom: 1pt; font-style: italic; font-weight: bold;">The Fact-Finding Report</div>
      <div style="text-align: justify; margin-bottom: 10pt;">The fact-finding report will concisely summarize all facts and issues learned during the investigation and will offer recommendations. Fact-finding reports respecting complaints material to the
        affairs of the Company or involving any officer of Stantec Inc. shall be delivered to the chair of the Audit and Risk Committee.</div>
      <div style="text-align: justify; margin-top: 6pt; margin-bottom: 1pt; font-style: italic; font-weight: bold;">Evaluation of the Fact-Finding Report</div>
      <div style="text-align: justify; margin-bottom: 10pt;">The Audit and Risk Committee will review all fact-finding reports delivered to the Committee and may review other facts relating to the complaint. Any decision of the Audit and Risk Committee
        regarding the subject matter of the complaint will be communicated to the designated corporate executives and to the person filing the complaint, unless the complaint was filed anonymously.</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">Page 11 of 12</font></div>
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td rowspan="1" style="width: 50.00%;"><img src="logo.jpg"></td>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 50.00%;">&#160;</td>
              <td rowspan="1" style="width: 50%; text-align: right;">&#160;<font style="font-family: Arial; font-size: 12pt; color: rgb(245, 125, 27); font-weight: bold;"><u>Code of Business Conduct</u></font></td>
            </tr>

        </table>
      </div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;"><br>
        Potential Outcomes</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">If it is determined that improper accounting, internal accounting controls, or auditing matters have occurred, or if something improper of a nonfinancial nature has occurred,
        appropriate action will be taken, including discipline of the wrongdoer(s). Discipline may take the form of counseling, verbal or written warning, reprimand, reassignment, suspension, demotion, and/or termination of employment. In appropriate
        cases, the matter may be referred to legal or regulatory authorities.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Retaliation</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">It is unlawful to retaliate against an employee who has, in good faith, provided information or otherwise assisted in an investigation regarding a complaint. The Audit and Risk
        Committee, the Board of Directors, and the Company will not tolerate any retaliation against an employee for complaining in good faith of questionable accounting, internal accounting controls, auditing matters, or nonfinancial matters, including
        violations of applicable laws, regulations, or internal policies, or for cooperating in the investigation of a complaint.</div>
      <div style="text-align: justify; margin-top: 13pt; margin-bottom: 3pt; font-weight: bold;">Complaint File Retention</div>
      <div style="text-align: justify; margin-top: 3pt; margin-bottom: 10pt;">At the conclusion of the process, the Audit and Risk Committee shall cause the&#160;office of the general counsel&#160;to confidentially retain a copy of the complaint, the fact-finding
        report, and any other documents deemed relevant by the Audit and Risk Committee, for a period of three&#160;(3) years from the date of the complaint. Such retention shall be solely for archival purposes.</div>
      <div><br>
      </div>
    </div>
  </div>
  <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">Page 12 of 12</font></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
