<SEC-DOCUMENT>0001171843-25-003248.txt : 20250515
<SEC-HEADER>0001171843-25-003248.hdr.sgml : 20250515
<ACCEPTANCE-DATETIME>20250515170026
ACCESSION NUMBER:		0001171843-25-003248
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20250515
FILED AS OF DATE:		20250515
DATE AS OF CHANGE:		20250515

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STANTEC INC
		CENTRAL INDEX KEY:			0001131383
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ENGINEERING SERVICES [8711]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32562
		FILM NUMBER:		25955095

	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_051525.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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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="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">Washington, DC 20549</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">Form 6-K</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">Report of Foreign Private Issuer</P>

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

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

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&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: May, 2025</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="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">STANTEC INC.</P>

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

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

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">10220-103 Avenue NW, Suite 300</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="font-size: 10pt; text-align: center; margin: 0pt 0">(Address of Principal Executive Offices)</P>

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

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

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">Form 20-F &#9744; Form 40-F &#9746;</P>

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

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

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">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="font-size: 10pt; text-indent: 1in; margin: 0pt 0">&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: May 15, 2025</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/ Vito Culmone</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: Vito Culmone</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="font-size: 10pt; margin: 0pt 0">&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="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0"></P>

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<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">EXHIBIT INDEX</P>

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

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

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  <TR STYLE="vertical-align: top">
    <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%"><A HREF="exh_991.htm">99.1</A></TD>
    <TD STYLE="width: 88%; font-size: 10pt"><A HREF="exh_991.htm">Code of Business Conduct</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>

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

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

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

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

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

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

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

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

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

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

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



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

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&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="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 99.1</B></P>

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

<P STYLE="margin-top: 0; margin-bottom: 0"><IMG SRC="logo.jpg" ALT=""></P>

<P STYLE="border-bottom: Red 1pt solid; margin-top: 0; margin-bottom: 0">&nbsp;</P>

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

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

<P STYLE="font-size: 18pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">Code of Business Conduct</P>

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

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

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

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

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

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

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The following standards are intended to protect the Company's
reputation and the quality of its services.</P>

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

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

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Stantec&rsquo;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.</P>

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The following words, phrases, and terms used in this Code have
the following meanings:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">&ldquo;Company&rdquo; or &ldquo;Stantec&rdquo; means Stantec Inc. or any of its wholly owned
subsidiaries and affiliated companies</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">&ldquo;Employees&rdquo; means any director, officer, or employee of Stantec</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">&ldquo;Supervisor&rdquo; 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</TD>
</TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.75pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.75pt; margin-top: 0pt; margin-bottom: 0pt">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.</P>

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

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

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

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

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

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

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

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

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">Abiding by the Law</P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">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. Stantec
will ensure compliance with antitrust laws and promote fair competition. 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.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">Accurate Books and Records</P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The Company requires full, fair, accurate, timely, and
understandable recording and reporting of 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&rsquo;s transactions,
and conform to applicable legal requirements, accounting standards, and the Company&rsquo;s system of internal controls.</P>

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

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

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Any Employee involved in preparing the Company&rsquo;s
disclosure documents (such as corporate filings or press releases) must produce full, fair, accurate, timely, and understandable disclosure
in such documents.</P>

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

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

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

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">Conflicts of Interest</P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Employees have a duty to be free from the influence of
any conflicting interest when representing Stantec. 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.</P>

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

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

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">A conflict of interest occurs when an individual&rsquo;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.</P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The following is a non-exhaustive list of circumstances which
may give rise to a conflict of interest:</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&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: 35.95pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-weight: normal">&middot;</FONT></TD><TD>Work Outside of Stantec</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">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 leader and summarized and provided to the regional Human
Resources manager to be placed in the employee&rsquo;s personnel file.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">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&rsquo;s business leader.</P>

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Service on the board of a client
must be approved in writing by the employee&rsquo;s business leader and general counsel.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">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&rsquo;s personnel file.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">&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: 35.95pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-weight: normal">&middot;</FONT></TD><TD STYLE="padding-right: 9.35pt">Conducting business transactions with a family member or with a business in which you have a financial
interest</TD></TR></TABLE>

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

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">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 business leader. Persons evaluating whether ownership in a business constitutes a conflict of interest will consider the following:</P>

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&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: 71.85pt"></TD><TD STYLE="width: 17.8pt">1.</TD><TD>Size and nature of the investment</TD></TR></TABLE>

<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: 71.85pt"></TD><TD STYLE="width: 17.8pt">2.</TD><TD>Nature of the relationship between the other entity and Stantec</TD></TR></TABLE>

<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: 71.85pt"></TD><TD STYLE="width: 17.8pt">3.</TD><TD>Employee&rsquo;s access to confidential information</TD></TR></TABLE>

<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: 71.85pt"></TD><TD STYLE="width: 17.8pt">4.</TD><TD>Employee&rsquo;s ability to influence Stantec decisions</TD></TR></TABLE>

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

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Material related-party transactions will be publicly
disclosed as required by applicable laws and regulations.</P>

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

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

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<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&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: 36pt"></TD><TD STYLE="width: 17.95pt"><FONT STYLE="font-family: Symbol; font-weight: normal">&middot;</FONT></TD><TD>Dealing with Stantec property</TD></TR></TABLE>

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">You, or anyone with whom you do not deal at arm's length,
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 business leader.</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&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: 36pt"></TD><TD STYLE="width: 17.95pt"><FONT STYLE="font-family: Symbol; font-weight: normal">&middot;</FONT></TD><TD>Dealing with Stantec Information</TD></TR></TABLE>

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

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Except in the best interests of Stantec, you should not
give, release, or discuss with anyone not authorized by Stantec or required by law 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.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&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: 36pt"></TD><TD STYLE="width: 17.95pt"><FONT STYLE="font-family: Symbol; font-weight: normal">&middot;</FONT></TD><TD>Soliciting, Accepting, or Offering Gifts</TD></TR></TABLE>

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

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">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, &ldquo;Gifts&rdquo;) 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&rsquo;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
&ndash; see &quot;Country Gift Limits&quot; on The Lens for limits in other jurisdictions) to or from any individual in any 12-month period.</P>

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

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Further, no Gifts may be offered or accepted if doing so</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 75pt; text-align: right"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Is unlawful</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 75pt; text-align: right"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Violates the stricter of Stantec's or the other party&rsquo;s policies or practices (you
are responsible for knowing and adhering to the rules that apply to parties before you propose to offer a Gift)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 75pt; text-align: right"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Obligates the recipient in any way</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 75pt; text-align: right"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Compromises or may appear to compromise the integrity, reputation, or independence of the
recipient</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 75pt; text-align: right"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Includes air travel or overnight accommodation</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 75pt; text-align: right"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">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</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 75pt; text-align: right"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Involves a public sector employee (which is broadly interpreted to include elected or appointed
                                                                                                                             representatives and employees or consultants at all levels of any council, 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.</TD>
</TR></TABLE>

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

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

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

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

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">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.</P>

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

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">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.</P>

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

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">If in doubt about the interpretation or application of
this practice&mdash;including whether an individual is a &ldquo;public sector employee,&rdquo; the definition of &ldquo;incidental,&rdquo;
etc.&mdash;check with any of Stantec&rsquo;s corporate counsel before offering or accepting any Gift.</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&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: 36pt"></TD><TD STYLE="width: 17.95pt"><FONT STYLE="font-family: Symbol; font-weight: normal">&middot;</FONT></TD><TD STYLE="text-align: justify">Gifts between employees</TD></TR></TABLE>

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

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Similar principles apply to gifting between employees
when Stantec funds are not used, including leaders/managers to employees. Voluntary contributions of nominal amounts from fellow employees
may be gathered for a gift, provided employees are not improperly solicited and only give voluntarily. Use of Stantec email or Stantec
distribution lists to solicit donations via GoFundMe or other fundraising across a large group of employees is prohibited. The Stantec
BetterTogether Fund is open to all Stantec employees who wish to contribute and make a positive impact in the lives of their colleagues.</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&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: 35.95pt"></TD><TD STYLE="width: 17.95pt"><FONT STYLE="font-family: Symbol; font-weight: normal">&middot;</FONT></TD><TD STYLE="text-align: justify">Other Prohibited Conduct</TD></TR></TABLE>

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

<P STYLE="margin-left: 71px; font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">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.</P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">For more information, please refer to Stantec&rsquo;s Conflict
of Interest Guidance.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Inside Information and Insider Trading</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">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 &ldquo;inside&rdquo; if it is both material and non-public. Information is &ldquo;material&rdquo; if it would reasonably
be expected to have a significant effect on the market price or value of the company&rsquo;s shares if it were made public. Examples of
such information include, but are not limited to:</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&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: 72pt"></TD><TD STYLE="width: 17.95pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Financial results</TD></TR></TABLE>

<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: 72pt"></TD><TD STYLE="width: 17.95pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Projections of future earnings or losses</TD></TR></TABLE>

<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: 72pt"></TD><TD STYLE="width: 17.95pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Entering into or loss of significant contracts</TD></TR></TABLE>

<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: 71.95pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Pending or proposed mergers, acquisitions, or divestitures</TD></TR></TABLE>

<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: 71.95pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Changes in senior management or other major personnel changes</TD></TR></TABLE>

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Information is &ldquo;non-public&rdquo; if it has not
been previously disclosed to the general public and is otherwise not available to the general public.</P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">For more information, please refer to Stantec&rsquo;s Insider
Trading Prohibition Policy.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Dealing with Each Other</P>

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

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

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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 75pt; text-align: right"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Are vulgar, obscene, threatening, intimidating, harassing</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 75pt; text-align: right"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Portray the Company or individuals in a negative light</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 75pt; text-align: right"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">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 employee.</TD>
</TR></TABLE>

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

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Dealing with Shareholders</P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Stantec is committed to protecting and improving shareholder
value through the prudent use of 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.</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">Dealing with Clients</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">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.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">Dealing with Subconsultants and Suppliers</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">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.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">Proprietary Information Belonging to the Company</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">Employees must maintain the confidentiality
of the Company&rsquo;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 use or disclose business information outside the Company unless they are authorized and it is legal to do so. This
restriction is not applicable to the submission of proprietary information to regulatory agencies when necessary.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">Proprietary Information of Others</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">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.</P>

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

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

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

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">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 Anti-Corruption Policy.</P>

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

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

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

<P STYLE="font-size: 10pt; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">Personal business should not be conducted during normal working
hours. 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.</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">Hiring Former Government Employees</P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">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. Any questions
regarding activity which may create a conflict of interest should be raised immediately with corporate counsel.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">Legal Processes, Investigations, and Audits</P>

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

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

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

<P STYLE="font-size: 10pt; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">The following are examples of occurrences that must be brought
immediately to the attention of corporate counsel:</P>

<P STYLE="font-size: 10pt; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">&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: 35.85pt"></TD><TD STYLE="width: 17.8pt">1.</TD><TD>Notification of an inquiry, audit or investigation</TD></TR></TABLE>

<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: 35.85pt"></TD><TD STYLE="width: 17.9pt">2.</TD><TD STYLE="padding-right: 10.95pt">Request to appear or testify before a governmental or quasi-governmental agency, commission, legislative,
or administrative body</TD></TR></TABLE>

<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: 35.85pt"></TD><TD STYLE="width: 17.8pt">3.</TD><TD>Subpoenas or requests for documentation, interviews, on-site visits, or inspections</TD></TR></TABLE>

<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: 35.85pt"></TD><TD STYLE="width: 17.8pt">4.</TD><TD>Summons or complaints served on the Company</TD></TR></TABLE>

<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: 35.85pt"></TD><TD STYLE="width: 17.8pt">5.</TD><TD>Citations or notifications of violations, fines, penalties, or injunctive actions</TD></TR></TABLE>

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

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">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.</P>

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

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

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">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, must report them immediately. Employees should contact their supervisor or the Company&rsquo;s Integrity Hotline as soon as
possible so the concerns can be addressed.</P>

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

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">Stantec&rsquo;s Integrity Hotline
is hosted 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. Requests for anonymity will be honored to the extent possible while still ensuring a full
and proper investigation. It is important that anonymous reports contain sufficient detail for an investigation.</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">Integrity Hotline numbers and address:</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&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: 53.75pt"></TD><TD STYLE="width: 36.2pt">&bull;</TD><TD>The Integrity Hotline Phone Numbers &ndash;</TD></TR></TABLE>

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

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

<TABLE CELLSPACING="0" CELLPADDING="5" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: #FCE9D9">
    <TD STYLE="width: 13%; border-top: #DFDEDA 1pt solid; border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid">
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>Country</B></P></TD>
    <TD STYLE="border-top: #DFDEDA 1pt solid; border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; text-align: left; width: 68%">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>Phone Number</B></P></TD>
    <TD STYLE="width: 19%; border-top: #DFDEDA 1pt solid; border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>Languages Spoken</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-left: #DFDEDA 1pt solid; border-bottom: black 1pt solid; padding-left: 3.55pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>United States, Canada, and Puerto Rico</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid; padding-left: 3.65pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><I><U>Direct Dial</U></I>: From an outside line, dial direct for your location: 1-855-389-9170</FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; padding-left: 3.55pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">English, French, Spanish</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-left: #DFDEDA 1pt solid; border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Argentina</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I><U>Direct Access</U></I>: From an outside line, dial the direct access number
    for your location:</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Argentina
    (Argentina Telecom): 0-800-555-4288</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT>
    Argentina (Telefonica): 0-800-222-1288 At the <I>English </I>prompt, dial 855-389-9170.</P></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; padding-left: 3.55pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Spanish (Latin American), English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-left: #DFDEDA 1pt solid; border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Australia</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid; padding-left: 3.65pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><I><U>International Toll-Free Service (ITFS)</U>:</I> From an outside line, dial the ITFS number for your location: 1-800-79-2097</FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-left: #DFDEDA 1pt solid; border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Bahrain</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I><U>Direct Access</U>:</I> From an outside line, dial the direct access number
    for your location:</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Bahrain
    (US military bases): 800-000-00</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Bahrain:
    800-00-001</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT>
    Bahrain (Cellular): 800-000-05 At the <I>English</I> prompt, dial 855-389-9170.</P></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">Arabic, English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-left: #DFDEDA 1pt solid; border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Barbados</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I><U>Reverse Charge Calls / Collect Calls</U>:</I> From an outside line, contact
    your local operator.</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Request
    a <U>reverse charge or collect call to be placed</U> to the United States: 503-444- 4000</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> All reverse
    charge or collect calls will be accepted by the Contact Center using an automated <I>English </I>message.</P></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-left: #DFDEDA 1pt solid; border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Belgium</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid; padding-left: 7.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><I><U>OneConnect</U>:</I> From an outside line, dial the direct access number for your location: 0800 27 164</FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; padding-left: 3.55pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Dutch, French (European), German, English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-left: #DFDEDA 1pt solid; border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Brazil</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I><U>Direct Access</U></I>: From an outside line, dial the direct access number
    for your location:</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> 0-800-890-0288</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Cellular:
    0-800-888-8288</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">At the <I>English</I> prompt, dial 855-389-9170.</P></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">Portuguese, English</FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><P STYLE="margin-top: 0; margin-bottom: 0">Code of Business Conduct</P><P STYLE="margin-top: 0; margin-bottom: 0">Last Updated: May 14, 2025</P></TD><TD STYLE="width: 50%; text-align: right">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --> of 14</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="5" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: #FCE9D9">
    <TD STYLE="width: 13%; border-top: #DFDEDA 1pt solid; border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid">
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>Country</B></P></TD>
    <TD STYLE="border-top: #DFDEDA 1pt solid; border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; text-align: left; width: 68%">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>Phone Number</B></P></TD>
    <TD STYLE="width: 19%; border-top: #DFDEDA 1pt solid; border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>Languages Spoken</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>Brunei</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; text-align: left">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I><U>Direct Access</U>:</I> From an outside line, dial the direct access number
    for your location: 800-1111</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">At the <I>English</I> prompt, dial 855-389-9170.</P></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Malay, English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>Chile</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; text-align: left">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I><U>Direct Access</U>:</I> From an outside line, dial the direct access number
    for your location:</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Chile
    (Telemax): 800-225-288</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Chile
    (Telefonica): 800-800-288</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Chile
    (ENTEL): 800-360-311</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Chile
    (ENTEL &ndash; Spanish Operator): 800-360-312</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Chile
    (Easter Island): 800-800-311</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Chile
    (Easter Island &ndash; Spanish Operator): 800-800-312</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">At the <I>English</I> prompt, dial 855-389-9170.</P></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; padding-left: 3.55pt"><FONT STYLE="font-size: 10pt">Spanish (Latin American), English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>China</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; text-align: left; padding-left: 3.65pt"><FONT STYLE="font-size: 10pt"><I><U>OneConnect</U>:</I> From an outside line, dial the direct access number for your location: 400 120 0335</FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; padding-left: 3.55pt"><FONT STYLE="font-size: 10pt">Mandarin, Cantonese, English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>Ethiopia</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; text-align: left">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I><U>Reverse Charge Calls / Collect Cal</U>l:</I> From an outside line, contact
    your <U>loca</U>l operator.</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Request a
    <U>reverse charge or collect call to be placed</U> to the United States: 971-371- 7833</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> All <U>reverse
    charge or collect calls will be accepted</U> by the Contact Center using an automated <I>English </I>message.</P></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; padding-left: 3.55pt"><FONT STYLE="font-size: 10pt">Amharic (Ethiopian), English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>Fiji Islands</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; text-align: left">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I><U>Reverse Charge Calls/Collect Call:</U></I> From an outside line, contact your
    local operator.</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Request
    a <I><U>reverse charge or collect call</U></I><U> to be placed</U> to the United States: 503-444-4000</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">All reverse charge or collect calls
    will be accepted by the Contact Center using an automated</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I>English</I> Message.</P></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>Germany</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; text-align: left; padding-left: 3.65pt"><FONT STYLE="font-size: 10pt"><I>OneConnect</I>: From an outside line, dial the direct access number for your location: 0800 180 1998</FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">English, German</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>India</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; text-align: left; padding-left: 3.65pt"><FONT STYLE="font-size: 10pt"><I><U>OneConnect:</U></I> From an outside line, dial the direct access number for your location: 0124 712 8103</FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">English, Hindi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid; padding-left: 3.55pt"><FONT STYLE="font-size: 10pt"><B>Italy</B> <I>(includes San Marino, Vatican City)</I></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; text-align: left; padding-left: 3.65pt"><FONT STYLE="font-size: 10pt"><I><U>International Toll-Free Service (ITFS)</U>:</I> From an outside line, dial the ITFS number for your location: 800-172418</FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Italian, English</FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="5" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: #FCE9D9">
    <TD STYLE="width: 13%; border-top: #DFDEDA 1pt solid; border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid">
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>Country</B></P></TD>
    <TD STYLE="border-top: #DFDEDA 1pt solid; text-align: left; width: 68%; border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>Phone Number</B></P></TD>
    <TD STYLE="width: 19%; border-top: #DFDEDA 1pt solid; border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>Languages Spoken</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>Malaysia</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I><U>Direct Access</U>:</I> From an outside line, dial the direct access number
    for your location: 1-800-80-0011</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">At the <I>English</I> prompt, dial 855-389-9170.</P></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Malay, English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>Netherlands</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid; padding-left: 3.65pt"><FONT STYLE="font-size: 10pt">Global Inbound Services (GIS): From an outside line dial the direct access number for your location: 08000200028</FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Dutch, English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>New Zealand</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid; padding-left: 3.65pt"><FONT STYLE="font-size: 10pt">Global Inbound Services (GIS): From an outside line dial the direct access number for your location: 0508974209</FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>Pakistan</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I><U>Direct Access</U></I>: From an outside line, dial the direct access number
    for your location: 00-800-01-001</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Not
    available from cellular phones</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">At the <I>English</I> prompt, dial 855-389-9170.</P></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Punjabi, Urdu, English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>Panama</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I><U>Direct Access</U>:</I> From an outside line, dial the direct access number
    for your location: 800-0109</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> (Spanish
    Operator): 800-2288</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">At the <I>English</I> prompt, dial 855-389-9170.</P></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; padding-left: 3.55pt"><FONT STYLE="font-size: 10pt">Spanish (Latin American), English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>Peru</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid; padding-left: 3.65pt"><FONT STYLE="font-size: 10pt"><I><U>OneConnect</U></I>: From an outside line, dial the direct access number for your location: 0800 74683</FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Spanish (Latin American), English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>Philippines</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid; padding-left: 3.65pt"><FONT STYLE="font-size: 10pt"><I>OneConnect</I>: From an outside line, dial the direct access number for your location: (02) 8231 3408</FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">English, Filipino</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>Qatar</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I><U>Reverse Charge / Collect Calls</U>:</I> From an outside line, contact your
    local operator.</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Request a
    <U>reverse charge or collect call to be placed</U> to the United States: 503-444- 4000</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> All reverse
    charge or collect calls will be accepted by the Contact Center using an automated <I>English </I>message.</P></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">English, Arabic</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>Saudi Arabia</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I><U>Direct Access</U></I>: From an outside line, dial the direct access number
    for your location: 1-800-10</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">At the <I>English</I> prompt, dial 855-389-9170.</P></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">English, Arabic</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>Taiwan</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid; padding-left: 5.45pt"><FONT STYLE="font-size: 10pt"><I><U>OneConnect</U>:</I> From an outside line, dial the direct access number for your location: 0801-49-2031</FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Mandarin, English</FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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

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    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="5" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: #FCE9D9">
    <TD STYLE="width: 13%; border-top: #DFDEDA 1pt solid; border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid">
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>Country</B></P></TD>
    <TD STYLE="border-top: #DFDEDA 1pt solid; text-align: left; width: 68%; border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>Phone Number</B></P></TD>
    <TD STYLE="width: 19%; border-top: #DFDEDA 1pt solid; border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>Languages Spoken</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>T&uuml;rkiye</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid">
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I><U>Direct Access</U>:</I> From an outside line, dial the direct access number
    for your location: 0811-288-0001</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&Oslash;</FONT> Not
    available from cellular phones</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="text-align: left; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">At the <I>English</I> prompt, dial 855-389-9170.</P></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Turkish, English</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid; padding-left: 3.55pt"><FONT STYLE="font-size: 10pt"><B>United Arab Emirates</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid; padding-left: 3.65pt"><FONT STYLE="font-size: 10pt"><I><U>OneConnect</U></I>: From an outside line, dial the direct access number for your location: 8000120393</FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">English, Arabic</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid; border-left: #DFDEDA 1pt solid"><FONT STYLE="font-size: 10pt"><B>United Kingdom</B></FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; text-align: left; border-bottom: black 1pt solid; padding-left: 3.65pt"><FONT STYLE="font-size: 10pt"><I><U>International Toll-Free Service (ITFS)</U>:</I> From an outside line, dial the ITFS number for your location: 0808-234-3434</FONT></TD>
    <TD STYLE="border-right: #DFDEDA 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">English</FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">The Integrity Hotline Web Intake &ndash; www.stantec.ethicspoint.com</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&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: 71.75pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The Integrity Hotline Address:</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-indent: -0.6pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-left: 80pt; font-size: 10pt; text-indent: -0.6pt; margin-top: 0pt; margin-bottom: 0pt">Integrity Hotline c/o</P>

<P STYLE="margin-left: 80pt; font-size: 10pt; text-indent: -0.6pt; margin-top: 0pt; margin-bottom: 0pt">Stantec</P>

<P STYLE="margin-left: 80pt; font-size: 10pt; text-indent: -0.6pt; margin-top: 0pt; margin-bottom: 0pt">#300, 10220 &ndash; 103 Avenue N.W. Edmonton,</P>

<P STYLE="margin-left: 80pt; font-size: 10pt; text-indent: -0.6pt; margin-top: 0pt; margin-bottom: 0pt">AB T5J 0K4</P>

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

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">Or use this QR Code:</P>

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

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="qr.jpg" ALT="" STYLE="height: 100px; width: 100px"></P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">If issues that have been reported to the Integrity Hotline
are not clarified or otherwise dealt with to the satisfaction of the employee or other reporter, that individual may file a complaint
with the chair of the Audit and Risk Committee. To ensure a correct understanding of the matters subject to the complaint, an initial
complaint filed with the Integrity Hotline should be 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.</P>

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

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

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

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

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The chair of the Audit and Risk Committee is Shelley
A. M. Brown, and she can be contacted at (604) 417- 8548 or by email at shelleybrowncpa@gmail.com</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">Commencement of Process</P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">If the nature of the complaint is material to the affairs
of the Company or involves any officer of 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. 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.</P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The general counsel 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.</P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Nothing in this Code of Business Conduct is intended
nor shall prohibit an individual from filing a report with an appropriate regulatory agency.</P>

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

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

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

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5pt; margin-top: 0pt; margin-bottom: 0pt">Confidentiality&mdash;relating both
to the fact that a complaint has been made and to its investigation of employee complaints&mdash;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.</P>

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

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

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

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

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">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. Employees are
required to cooperate with investigations. 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.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The Fact-Finding Report</P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The fact-finding report will concisely summarize all facts
and issues learned during the investigation and will offer recommendations, as appropriate. 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.</P>

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

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

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

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Evaluation of the Fact-Finding Report</P>

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

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

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

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Potential Outcomes</P>

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

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

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

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

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

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

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

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Complaint File Retention</P>

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

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">At the conclusion of the process, the Audit and Risk Committee
shall cause the office of the general counsel 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 (3) years from the date of the complaint. Such retention
shall be solely for archival purposes.</P>

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="margin-top: 0; margin-bottom: 0"><IMG SRC="logo.jpg" ALT=""></P>

<P STYLE="border-bottom: Red 1pt solid; margin-top: 0; margin-bottom: 0">&nbsp;</P>

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


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

<P STYLE="font-size: 18pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">Code of Business Conduct</P>

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

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>Stantec Code of Business Conduct Country Gift Limits</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="5" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Country</B></FONT></TD>
    <TD STYLE="width: 33%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>USD Currency</B></FONT></TD>
    <TD STYLE="width: 33%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt"><B>Local Currency</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Canada</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$775</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">$1,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>United States and Puerto Rico</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$1,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">$1,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Argentina</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$650</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">39,000 Pesos</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Australia</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$700</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">$1,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Barbados</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$500</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">$1,000 BBD</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Belgium</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$550</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">500 Euros</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Chile</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$650</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">490,000 Pesos</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>China</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$650</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">4,450 CNY</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Ethiopia</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$65</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">2,000 Birr</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>India</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$30</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">2,000 INR</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Italy</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$1,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">900 Euros</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Netherlands</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">Public Employee $0 Private Employee $350</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">Public Employee 0 Euros Private Employee 300 Euros</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>New Zealand</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$700</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">$1,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Pakistan</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$100</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">15,500 Rupees</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Peru</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$650</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">2,100 Sol</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Qatar</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$1,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">3,600 QAR</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Saudi Arabia</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$1,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">3,750 SAR</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Taiwan</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$650</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">19,500 NT</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>Turkey</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$350</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">2,000 TL</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>United Arab Emirates</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt">$1,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8.55pt"><FONT STYLE="font-size: 10pt">3,600 AED</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8.6pt"><FONT STYLE="font-size: 10pt"><B>United Kingdom</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">$650 Junior Client Staff</P>
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">$1,300 Senior Client Staff</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&pound;500 Junior Client Staff</P>
    <P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&pound;1,000 Senior Client Staff</P></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

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

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>Note: </B>The amounts listed above are the maximums any Stantec employee can offer
or accept for a gift, including any aggregate for meals and entertainment, in a 12-month period. Currencies may fluctuate, and therefore, the amount of a gift offered or received may not exceed the USD amount
at the time of the transaction or exchange, regardless of the local currency amount.</P>

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

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

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

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">In no event may a Stantec employee offer entertainment to any government
official nor may an employee offer a gift in violation of the recipient&rsquo;s Code of Conduct. Please refer to the Stantec Code of
Business Conduct and the Practical Guidance Relating to Gifts, Entertainment and Sponsorships available on The Lens for further details.
If a country is not listed or you have additional questions, please contact IntegrityHotline@stantec.com or your regional counsel for
guidance.</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><P STYLE="margin-top: 0; margin-bottom: 0">Appendix A - Code of Business Conduct</P><P STYLE="margin-top: 0; margin-bottom: 0">Last Updated: May 14, 2025</P></TD><TD STYLE="width: 50%; text-align: right">Page 2 of 2</TD></TR></TABLE>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
