<SEC-DOCUMENT>0001171843-23-004173.txt : 20230627
<SEC-HEADER>0001171843-23-004173.hdr.sgml : 20230627
<ACCEPTANCE-DATETIME>20230627145747
ACCESSION NUMBER:		0001171843-23-004173
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20230627
FILED AS OF DATE:		20230627
DATE AS OF CHANGE:		20230627

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:		231046742

	BUSINESS ADDRESS:	
		STREET 1:		300 10220 103 AVENUE NW
		STREET 2:		EDMONTON ALBERTA T5J 0K4 CANADA
		CITY:			EDMONTON
		STATE:			A0
		ZIP:			00000
		BUSINESS PHONE:		780-917-7000

	MAIL ADDRESS:	
		STREET 1:		300 10220 103 AVENUE NW
		CITY:			EDMONTON, ALBERTA
		STATE:			A0
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>f6k_062723.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center">Washington, DC 20549</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center">Form 6-K</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">Report of Foreign Private Issuer</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">Pursuant to Rule 13a-16 or 15d-16 of</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">the Securities Exchange Act of 1934</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; font-size: 10pt">For the Month of: June, 2023</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 49%; font-size: 10pt; text-align: right">Commission File Number: 001-32562</TD></TR>
  </TABLE>


<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center">STANTEC INC.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">(Name of Registrant)</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center">300 &ndash; 10220 103 Avenue NW</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center">Edmonton, Alberta</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center">Canada T5J 0K4</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">(Address of Principal Executive Offices)</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">Indicate by check mark whether the registrant files or will file annual reports under cover
of Form 20-F or Form 40-F:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">Form 20-F <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#9;Form 40-F <U>&nbsp;&nbsp;X&nbsp;&nbsp;</U></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 86.25pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center">SIGNATURES</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 1in">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.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">STANTEC INC.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; font-size: 10pt; padding-bottom: 1pt">Date: June 27, 2023</TD><TD STYLE="width: 1%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 49%; font-size: 10pt; text-align: left; padding-bottom: 1pt">By: <U>/s/ Theresa B.Y. Jang</U></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">Name: Theresa B. Y. Jang</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">Title: Executive Vice President and CFO</TD></TR>
  </TABLE>


<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center">EXHIBIT INDEX</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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    <TD STYLE="text-align: center"><U>Exhibit</U></TD>
    <TD STYLE="font-size: 10pt"><U>Description of Exhibit</U></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; width: 12%"><P STYLE="margin-top: 0; margin-bottom: 0"><A HREF="exh_991.htm">99.1</A>&nbsp;</P></TD>
    <TD STYLE="width: 88%; font-size: 10pt"><A HREF="exh_991.htm">Second Supplemental Trust Indenture</A></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: right">Exhibit 99.1</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center">SECOND SUPPLEMENTAL TRUST INDENTURE</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">This Second Supplemental Trust Indenture is entered into as of the 27<SUP>th</SUP>
day of June, 2023 between:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 72pt"><FONT STYLE="text-transform: uppercase"><B>Stantec Inc.</B></FONT>,
a corporation created and existing under the laws of Canada (the &quot;<B>Issuer</B>&quot;)</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 72pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 72pt">- and -</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 72pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 72pt"><FONT STYLE="text-transform: uppercase"><B>Computershare Trust Company
of Canada</B></FONT>, a trust company subsisting under the laws of Canada and authorized to carry on business in all provinces of Canada
(the &quot;<B>Trustee</B>&quot;)</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 72pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; margin: 0pt 0">WITNESSETH THAT:</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>WHEREAS</B> the Issuer and the Trustee entered into a trust indenture
dated as of October 8, 2020 (the &quot;<B>Base Indenture</B>&quot;) for the creation and issuance of Notes from time to time;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>AND WHEREAS</B> pursuant to Section 14.3 of the Base Indenture, the
Trustee may from time to time enter into indentures supplemental to the Base Indenture for certain purposes, including, without limitation,
to provide for the issue of Notes of any one or more Series;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>AND WHEREAS</B> the Issuer and the Trustee entered into a first supplemental
trust indenture dated as of October 8, 2020 (the &quot;<B>First Supplemental Indenture</B>&quot;) to provide for the creation and issuance
of 2.048% senior unsecured notes due October 8, 2027 (Series 1) (the Base Indenture, as amended, supplemented or otherwise modified from
time to time, including by way of the First Supplemental Indenture, the &quot;<B>Indenture</B>&quot;);</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>AND WHEREAS</B> the Issuer has determined to create and issue a second
series of Notes to be designated 5.393% senior unsecured notes due June 27, 2030 (Series 2) (the &quot;<B>Series 2 Notes</B>&quot;) and
to enter into this second supplemental trust indenture (this &quot;<B>Supplemental Indenture</B>&quot;) with the Trustee to provide for
the creation and issuance of the Series 2 Notes;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>AND WHEREAS</B> all necessary acts and proceedings have been done and
taken and all necessary resolutions have been passed to authorize the execution and delivery of this Supplemental Indenture, to make the
same effective and binding upon the Issuer, and to make the Series 2 Notes, when certified by the Trustee and issued as provided in the
Indenture and this Supplemental Indenture, valid, binding and legal obligations of the Issuer with the benefit and subject to the terms
of the Indenture and this Supplemental Indenture;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>AND WHEREAS</B> the foregoing recitals are made as representations and
statements of fact by the Issuer and not by the Trustee.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>NOW THEREFORE</B> it is hereby covenanted, agreed and declared as set
forth below.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0cm; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0cm"><FONT STYLE="text-transform: uppercase">Article
1</FONT><BR>
DEFINITIONS AND AMENDMENTS TO INDENTURE</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0cm; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">1.1</TD><TD STYLE="text-align: justify">Definitions</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">All capitalized terms not defined herein shall have the meanings given to them in the Indenture.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">In this Supplemental Indenture and in the Series 2 Notes, unless there is something in the subject matter
or context inconsistent therewith, the following expressions shall have the respective meanings indicated:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 72pt">&quot;<B>Canada Yield Price</B>&quot; means a price for the Series
2 Notes being redeemed, calculated at 10:00 a.m. (Toronto time) on the Business Day preceding the date on which the Issuer issues a notice
of redemption pursuant to the Indenture and in accordance with generally accepted Canadian financial practice to provide a yield to the
Par Call Date equal to the Government of Canada Yield plus 48.5 bps.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 72pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 72pt">&quot;<B>Government of Canada Yield</B>&quot; means on any date,
with respect to the Series 2 Notes, means the yield to maturity on such date, assuming semi-annual compounding, which a non-callable Government
of Canada bond would carry if issued in Canadian dollars in Canada, at 100% of its principal amount on such date with a term to maturity
equal to, or if no Government of Canada bond having an equal term to maturity exists, as close as possible to, the remaining term to the
Par Call Date. The Government of Canada Yield will be the average of the yields determined by two nationally recognized Canadian investment
dealers selected by the Issuer.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 72pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 72pt">&quot;<B>Par Call Date</B>&quot; means April 27, 2030 (the date
that is two (2) months prior to the Maturity Date of the Series 2 Notes).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 72pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify">In this Supplemental Indenture, all references to Articles, Sections and Schedules refer, unless otherwise
specified, to articles, sections and schedules of or to this Supplemental Indenture.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">1.2</TD><TD STYLE="text-align: justify">Amendments to Indenture</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">This Supplemental Indenture is supplemental to the Indenture, and the Indenture
and this Supplemental Indenture shall hereafter be read together and shall have effect, so far as practicable, with respect to the Series
2 Notes as if all the provisions of the Indenture and this Supplemental Indenture were contained in one instrument. The Indenture is and
shall remain in full force and effect with regards to all matters governing the Series 2 Notes, except as the Indenture is amended, superseded,
modified or supplemented by this Supplemental Indenture. Notwithstanding the foregoing, in the event of any inconsistency between the
provisions of this Supplemental Indenture and the provisions of the Indenture, the provisions of this Supplemental Indenture shall prevail.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0cm; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0cm"><FONT STYLE="text-transform: uppercase">Article
2<BR>
The Series 2 Notes</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0cm; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">2.1</TD><TD STYLE="text-align: justify">Creation and Designation</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">There is hereby authorized to be issued under the Indenture a Series of
Notes designated as 5.393% senior unsecured notes due June 27, 2030 (Series 2). The Series 2 Notes shall have the terms set forth in this
Article 2 and be subject to the applicable provisions of the Indenture.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">2.2</TD><TD STYLE="text-align: justify">Form and Terms of Series 2 Notes</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">The maximum principal amount of Series 2 Notes that may be issued is unlimited. The initial amount of
Series 2 Notes that is authorized and issued under this Supplemental Indenture on the date hereof is $250,000,000 in the lawful money
of Canada. The Series 2 Notes shall be designated as 5.393% senior unsecured notes due June 27, 2030 (Series 2).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">The Series 2 Notes shall mature on June 27, 2030.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify">The Series 2 Notes bear interest from the date of issue at the rate of 5.393% per annum, payable in equal
installments, semi-annually in arrears on June 27<SUP>th</SUP> and on December 27<SUP>th</SUP> in each year (each, an &quot;<B>Interest
Payment Date</B>&quot;) in an amount equal to $26.965 per $1,000 principal amount (less any tax required by law to be deducted). The first
interest payment to fall due on December 27, 2023 shall be in respect of Series 2 Notes issued on the date hereof and the last such payment
(representing interest payable from and including the last Interest Payment Date to, but excluding, the Maturity Date of the Series 2
Notes or the earlier Redemption Date of the Series 2 Notes), subject as herein provided, to fall due on June 27, 2030 or the earlier Redemption
Date, payable after as well as before maturity and after as well as before default, with interest on amounts in default at the same rate,
compounded semi-annually. Interest payable for any period less than a full semi-annual period shall be computed on the basis of a 365
day year or 366 day year, as applicable, and the actual number of days elapsed in the period. For greater certainty, the first interest
payment will include interest accrued from and including the date of issue to, but excluding, December 27, 2023 which will be equal to
$26.965 for each $1,000 principal amount of Series 2 Notes.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify">The Series 2 Notes may be redeemed at the option of the Issuer, in whole at any time, or in part from
time to time, upon such condition as may be specified in the notice of redemption and on a Redemption Date determined by the Issuer that
is not less than 10 nor more than 60 days after such notice of redemption is given to the Holders of the Series 2 Notes to be redeemed
pursuant to Article 5 of the Indenture, (i) prior to the Par Call Date, at a Redemption Price equal to the greater of par and the Canada
Yield Price, or (ii) at any time on or after the Par Call Date, at a Redemption Price equal to par, together in each case with accrued
and unpaid interest, if any, to but excluding, the date fixed for the redemption. The Issuer will be responsible for calculating the Redemption
Price. Such notice of redemption of any Notes given to the Holders of the Notes may be conditional and, in such case, such notice of redemption
shall specify the details and terms of any event on which such redemption is conditional.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(e)</TD><TD STYLE="text-align: justify">The Series 2 Notes shall be issued in denominations of $2,000 and integral multiples of $1,000 in excess
thereof. Each certificate representing the Series 2 Notes and the certificate of the Trustee endorsed thereon shall be issued in substantially
the form set out in Schedule&nbsp;&quot;A&quot; to this Supplemental Indenture, with such insertions, omissions, substitutions or other
variations as shall be required or permitted by the Indenture and this Supplemental Indenture, and may have imprinted or otherwise reproduced
thereon such legends or endorsements, not inconsistent with the provisions of the Indenture or this Supplemental Indenture, as may be
required to comply with any law or with any rules or regulations pursuant thereto or with any rules or regulations of any securities exchange
or securities regulatory authority or to conform with general usage, all as may be determined by any two Officers of the Issuer executing
such Series 2 Note in accordance with Section 2.6 of the Indenture, as conclusively evidenced by their execution thereof. Each certificate
representing the Series 2 Notes shall additionally bear such distinguishing letters and numbers as the Trustee shall approve. Notwithstanding
the foregoing, the certificate representing the Series 2 Notes may be in such other form or forms as may, from time to time, be approved
by a resolution of the Issuer Board, or as specified in an Officers' Certificate. The certificate representing the Series 2 Notes may
be engraved, lithographed, printed, mimeographed or typewritten or partly in one form and partly in another.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 72pt">The Series 2 Notes shall be issued as one or more Global Notes
and the Global Notes shall be registered in the name of the Depository which, as of the date hereof, shall be CDS Clearing and Depository
Services Inc. (or any nominee of the Depository). No Beneficial Holder shall receive definitive certificates representing their interest
in Series 2 Notes except as provided in Section 2.5 of the Indenture. A Global Note may be exchanged for Series 2 Notes in registered
form that are not Global Notes or transferred to and registered in the name of a Person other than the Depository for such Global Notes
or a nominee thereof, as provided in Section 2.5 of the Indenture.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 72pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(f)</TD><TD STYLE="text-align: justify">The Trustee shall be provided with the documents and instruments referred to in Sections&nbsp;4.1(a)(i)-(iii)
of the Indenture with respect to the Series 2 Notes prior to the issuance of the Series 2 Notes.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0cm; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">Article
3</FONT><BR>
<FONT STYLE="text-transform: uppercase">Guarantees</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0cm; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">3.1</TD><TD STYLE="text-align: justify">Existing Guarantees to Apply</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0cm; margin: 0pt 0">The Issuer hereby confirms to the Trustee that subject
to the provisions of Section 6.4 of the Indenture, the Guarantee applies to the 5.393% Series 2 Notes issued hereunder.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0cm; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0cm; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">Article
4</FONT><BR>
ADDITIONAL MATTERS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0cm; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">4.1</TD><TD STYLE="text-align: justify">Confirmation of Indenture</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Indenture, as amended and supplemented by this Supplemental Indenture,
is in all respects confirmed.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">4.2</TD><TD STYLE="text-align: justify">Acceptance of Trusts</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Trustee hereby accepts the trusts in this Supplemental Indenture declared
and provided for and agrees to perform the same upon the terms and conditions and subject to the provisions set forth in the Indenture.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">4.3</TD><TD STYLE="text-align: justify">Governing Law</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">This Supplemental Indenture and the Series 2 Notes shall be construed in
accordance with the laws of the Province of Alberta and the laws of Canada applicable therein and shall be treated, in all respects, as
Alberta contracts.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">4.4</TD><TD STYLE="text-align: justify">Further Assurances</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The parties shall, with reasonable diligence, do all such things and provide
all such reasonable assurances as may be required to consummate the transactions contemplated by this Supplemental Indenture, and each
party shall provide such further documents or instruments required by the other party as may be reasonably necessary or desirable to effect
the purpose of the Indenture and this Supplemental Indenture and carry out its provisions.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">4.5</TD><TD STYLE="text-align: justify">Counterparts and Formal Date</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">This Supplemental Indenture may be simultaneously executed in several counterparts,
each of which when so executed shall be deemed to be an original and all such counterparts together shall constitute one and the same
instrument and notwithstanding their date of execution shall be deemed to bear date as of June 27,&nbsp;2023.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><I>[Remainder of page intentionally left blank]</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B><I></I></B></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B><I>&nbsp;</I></B>&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>IN WITNESS WHEREOF</B> the parties hereto have executed this Supplemental
Indenture.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="text-transform: uppercase"><B>Stantec Inc</B></FONT><B>.</B>, as Issuer</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 37%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">(<I>signed</I>) &quot;Theresa Jang&quot;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Name: Theresa Jang</P>
    <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Title: Executive Vice President and Chief Financial Officer</P>
    <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">(<I>signed</I>) &quot;Paul J.D. Alpern&quot;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Name: Paul J.D. Alpern</P>
    <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Title: Senior Vice President, Secretary and General Counsel</P></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="text-transform: uppercase"><B>Computershare Trust Company of Canada</B></FONT>, as Trustee</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 37%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">(<I>signed</I>) &quot;Neil Scott&quot;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Authorized Signatory</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">(<I>signed</I>) &quot;Mohanie Shivprasad&quot;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Authorized Signatory</TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">[<I>Signature Page to Second Supplemental Trust Indenture</I>]</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0cm; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0cm">Schedule&nbsp;&quot;A&quot;&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0cm; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>&quot;Unless permitted under securities legislation, the Holder of this
security must not trade the security before the date that is 4 months and a day after the distribution date.</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>This Certificate is a Global Note within the meaning of the Indenture
hereinafter referred to and is registered in the name of a Depository or a nominee thereof.</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>Unless this certificate is presented by an authorized representative
of CDS Clearing and Depository Services Inc. (&quot;<B>CDS</B>&quot;) to Stantec Inc. or its agent for registration of transfer, exchange
or payment, and any certificate issued in respect thereof is registered in the name of CDS &amp; CO., or in such other name as is requested
by an authorized representative of CDS, and any payment is made to CDS &amp; CO. (or in such other name as is requested by an authorized
representative of CDS) and any payment is made to CDS &amp; CO. or to such other entity as is requested by an authorized representative
of CDS, any transfer, pledge or other use hereof for value or otherwise by or to any person is wrongful since the registered Holder hereof,
CDS &amp; CO., has a property interest in the securities represented by this certificate and it is a violation of its rights for another
person to hold, transfer or deal with this certificate.&quot;</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; text-align: justify">No. [__]</TD>
    <TD STYLE="width: 34%; text-align: center">CUSIP: 85472NAD1</TD>
    <TD STYLE="width: 33%; text-align: right">ISIN: CA85472NAD18</TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">Stantec Inc.</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">(A corporation established under the laws of Canada)</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">5.393<FONT STYLE="text-transform: uppercase">% Senior
Unsecured Note</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">DUE June 27,
2030</FONT> (SERIES 2)</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>Stantec Inc.</B></FONT> (the
&quot;<B>Issuer</B>&quot;) for value received hereby acknowledges itself indebted and, subject to the provisions of the trust indenture
(the &quot;<B>Base Indenture</B>&quot;) dated as of October 8, 2020 between the Issuer and Computershare Trust Company of Canada (the
&quot;<B>Trustee</B>&quot;), as supplemented by a first supplemental trust indenture (the &quot;<B>First Supplemental Indenture</B>&quot;)
dated October 8, 2020 and by a second supplemental trust indenture (the &quot;<B>Second Supplemental Indenture</B>&quot;) dated June 27,
2023 (the Base Indenture, as supplemented by the First Supplemental Indenture and Second Supplemental Indenture, being referred to as
the &quot;<B>Indenture</B>&quot;) promises to pay to CDS &amp; CO. or registered assigns on June 27, 2030 (the &quot;<B>Maturity Date</B>&quot;)
or on such earlier date as the principal amount hereof may become due in accordance with the provisions of the Indenture, the principal
sum of $250 million in lawful money of Canada on presentation and surrender of this 5.393% senior unsecured note due June 27, 2030 (Series
2) (the &quot;<B>Series 2 Notes</B>&quot;) at the principal office of the Trustee in Toronto, Ontario in accordance with the terms of
the Indenture. The Series 2 Notes shall, subject as herein provided, bear interest on the principal amount hereof from the date of issue,
or from the last Interest Payment Date to which interest shall have been paid or made available for payment hereon, whichever is later,
at the rate of 5.393% per annum, in like money, payable in equal installments, semi-annually in arrears on June 27<SUP>th</SUP> and December
27<SUP>th</SUP> in each year in an amount equal to $26.965 per $1,000 principal amount (less any tax required by law to be deducted).
The last interest payment representing interest payable from the last Interest Payment Date to, but excluding, the Maturity Date or earlier
Redemption Date shall fall due on the Maturity Date or earlier Redemption Date and, should the Issuer at any time make default in the
payment of any principal or interest, the Issuer shall pay interest on the amount in default at the same rate, in like money and on the
same dates on which interest is otherwise payable. Interest payable for any period less than a full semi-annual period shall be computed
on the basis of a 365 day year or 366 day year, as applicable, and the actual number of days elapsed in the period. Interest hereon shall
be payable by cheque mailed by prepaid ordinary mail to the registered Holder hereof or by electronic transfer of funds to the registered
Holder hereof, and subject to the provisions of the Indenture, the mailing of such cheque or the sending of such electronic transfer of
funds shall, to the extent of the sum represented thereby (plus the amount of any tax withheld), satisfy and discharge all liability for
interest on this Series 2 Note.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">This Series 2 Note is one of the Notes of the Issuer issued or issuable
in one or more series under the provisions of the Indenture. The maximum principal amount of Series 2 Notes authorized for issue is unlimited.
Reference is hereby expressly made to the Indenture for a description of the terms and conditions upon which the Series 2 Notes are or
are to be issued and held and the rights and remedies of the Holders of the Series 2 Notes and of the Issuer and of the Trustee, all to
the same effect as if the provisions of the Indenture were herein set forth, and to all of which provisions the Holder of this Series
2 Note by acceptance hereof assents.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Series 2 Notes are issuable only in denominations of $2,000 and integral
multiples $1,000 in excess thereof. Upon compliance with the provisions of the Indenture, Series 2 Notes of any denomination may be exchanged
for an equal aggregate principal amount of Series 2 Notes in any other authorized denomination or denominations.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Series 2 Notes may be redeemed at the option of the Issuer, in whole
at any time, or in part from time to time, on a Redemption Date determined by the Issuer that is not less than 10 nor more than 60 days
after notice of such redemption is given to the Holders of the Series 2 Notes to be redeemed pursuant to Article 5 of the Indenture, (i)
prior to the Par Call Date, at a Redemption Price equal to the greater of par and the Canada Yield Price, or (ii) at any time on or after
the Par Call Date, at a Redemption Price equal to par, together in each case with accrued and unpaid interest, if any, to but excluding,
the date fixed for the redemption.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Upon the occurrence of a Change of Control Triggering Event, the Issuer
is required to make an offer to purchase all outstanding Series 2 Notes at a price equal to 101% of the principal amount of such Series
2 Notes plus accrued and unpaid interest up to, but excluding, the date the Series 2 Notes are so repurchased.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The indebtedness evidenced by this Series 2 Note, and by all other Series
2 Notes now or hereafter certified and delivered under the Indenture, is a direct senior unsecured obligation of the Issuer, and ranks
equally and <I>pari passu</I> with each other and with Notes of every other series (regardless of their actual dates or terms of issue)
and, subject to statutory preferred exceptions, with all other present and future unsubordinated and unsecured indebtedness of the Issuer,
except as to sinking fund provisions applicable to different series of Notes and other similar types of obligations of the Issuer.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The principal hereof may become or be declared due and payable before the
stated maturity in the events, in the manner, with the effect and at the times provided in the Indenture.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Any payment of money to any Holder of Series 2 Notes shall be reduced by
the amount of applicable withholding tax, if any. The Indenture contains provisions making binding upon all Holders of Notes outstanding
thereunder (or in certain circumstances specific series of Notes) resolutions passed at meetings of such Holders held in accordance with
such provisions and instruments signed by the Holders of a specified majority of Notes outstanding (or specific series), which resolutions
or instruments may have the effect of amending the terms of these Series 2 Notes or the Indenture.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">This Series 2 Note may only be transferred, upon compliance with the conditions
prescribed in the Indenture, in the registers to be kept at the principal office of the Trustee in Toronto and in such other place or
places and/or by such other registrars (if any) as the Issuer with the approval of the Trustee may designate. No transfer of this Series
2 Note shall be valid unless made on the register by the registered Holder hereof or his executors or administrators or other legal representatives,
or his or their attorney duly appointed by an instrument in form and substance satisfactory to the Trustee or other registrar, and upon
compliance with such reasonable requirements as the Trustee and/or other registrar may prescribe and upon surrender of this Series 2 Note
for cancellation. Thereupon a new Series 2 Note or Series 2 Notes in the same aggregate principal amount shall be issued to the transferee
in exchange hereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>



<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">This Series 2 Note shall not become obligatory for any purpose until it
shall have been certified by the Trustee under the Indenture.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Capitalized words or expressions used in this Series 2 Note shall, unless
otherwise defined herein, have the meaning ascribed thereto in the Indenture.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">If any of the provisions of this Series 2 Note are inconsistent with the
provisions of the Indenture, the provisions of the Indenture shall take precedence and shall govern.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>IN WITNESS WHEREOF <FONT STYLE="text-transform: uppercase">Stantec Inc.</FONT></B>
has caused this Series 2 Note to be signed by its authorized representatives as of the 27<SUP>th</SUP> day of June, 2023.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; margin: 0pt 0"><B>IN WITNESS WHEREOF</B>, the Issuer has caused this Series 2 Note to be
signed by its authorized representatives as of the 27<SUP>th</SUP> day of June, 2023.</P>

<P STYLE="font-size: 10pt; text-align: left; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="text-transform: uppercase"><B>Stantec Inc</B></FONT><B>.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 37%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Name:</P>
    <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Title:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Name:</P>
    <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Title:</TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">TRUSTEE'S CERTIFICATE</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">This Series 2 Note is one of the 5.393% Senior Unsecured Notes due June
27, 2030 (Series 2) referred to in the Indenture within mentioned.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 50%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="text-transform: uppercase"><B>Computershare Trust Company</B></FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="text-transform: uppercase"><B>of Canada</B></FONT>, as Trustee</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 84%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Authorized Officer</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Authorized Officer</TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">(FORM OF REGISTRATION PANEL)</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(No writing hereon except by Trustee or other registrar)</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top; background-color: #D9D9D9">
    <TD STYLE="width: 33%; border: Black 1pt solid; text-align: center"><B>Date of Registration</B></TD>
    <TD STYLE="width: 34%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><B>In Whose Name Registered</B></TD>
    <TD STYLE="width: 33%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><B>Signature of Trustee or Registrar</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">CDS &amp; CO.</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">Stantec Inc.
</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">5.393<FONT STYLE="text-transform: uppercase">% Senior
Unsecured Note due june </FONT>27<FONT STYLE="text-transform: uppercase">, 2030 (Series 2)</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">Initial Principal Amount: $250 million</TD>
    <TD STYLE="width: 50%; text-align: right">CUSIP: 85472NAD1</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Authorization:</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">ADJUSTMENTS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="width: 20%; border: Black 1pt solid; text-align: center"><B>Date</B></TD>
    <TD STYLE="width: 20%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><B>Amount of Increase</B></TD>
    <TD STYLE="width: 20%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><B>Amount of Decrease</B></TD>
    <TD STYLE="width: 20%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><B>New Principal Amount</B></TD>
    <TD STYLE="width: 20%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><B>Authorization</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
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