STN: CEO transition: Gord Johnston to Vice Chair role, Susan Reisbord announced as incoming CEO

Research evidence excerpt

STN: CEO transition: Gord Johnston to Vice Chair role, Susan Reisbord announced as incoming CEO

EQUITY RESEARCH QUICK TAKE

RBC Dominion Securities Inc.

Sabahat Khan (Analyst)

Arthur Nagorny, CFA (Analyst)

Bhaven Shah (AVP)

Padraig Murphy (Associate)

June 17, 2026

Stantec Inc.

CEO transition: Gord Johnston to Vice Chair role, Susan Reisbord announced as incoming

CEO

TSX: STN | CAD 98.51 | Outperform | Price Target CAD 155.00

Sentiment: Neutral

Our view – We view the CEO transition as neutral to the stock, and the timing of the transition also makes sense as it aligns with

the end of the last Strategic Plan (recall that Stantec held an Investor Day in Dec. 2023 where it provided 2024-2026 guidance).

Overall, given Ms. Reisbord's extensive industry experience (~30 years, see below for details), we believe Stantec remains well-

positioned (assuming the company follows the same timelines as the last Strategic Plan, an updated outlook for the next 3-

year cycle could be shared later this year).

What happened – Stantec announced that Gord Johnston will retire as President & CEO, effective Oct. 1, 2026, at which time he

will transition to the role of Vice Chair. Susan Reisbord, currently COO of Stantec's North America business, has been appointed

as the incoming President & Chief Executive Officer (also effective Oct. 1, 2026).

Background on Ms. Reisbord – Ms. Reisbord joined Stantec in 2021 via the acquisition of Australia-based Cardno, an Environmental

Services- and Infrastructure-focused engineering & consulting firm, where she served as CEO. Following the acquisition of Cardno,

Ms. Reisbord led Stantec’s Environmental Services business until 2025, when she was appointed as COO for North America.

All values in CAD unless otherwise noted.