Slides
Page 1
Q3 CONFERENCE CALL PRESENTATION November 5, 2026
Page 2
2 References in this presentation to the “Company”, “AtkinsRéalis”, “we”, “us” and “our” mean, as the context may require, AtkinsRéalis Group Inc. and all or some of its subsidiaries or joint arrangements or associates, AtkinsRéalis Group Inc. or one or more of its subsidiaries or joint arrangements or associates. Statements made in this presentation that describe the Company’s or management’s budgets, estimates, expectations, forecasts, objectives, predictions, projections of the future or strategies may be “forward- looking statements”, which can be identified by the use of the conditional or forward-looking terminology such as “aims”, “anticipates”, “assumes”, “believes”, “cost savings”, “estimates”, “expects”, “forecasts”, “goal”, “intends”, “likely”, “may”, “objective”, “outlook”, “plans”, “projects”, “should”, “synergies”, “target”, “vision”, “will”, or the negative thereof or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. Forward-looking statements in this presentation include statements relating to the Company’s future economic performance and financial condition. Forward-looking statements also include statements relating to the following: i) future capital expenditures, revenues, expenses, earnings, economic performance, indebtedness, financial condition, losses, project or contract- specific cost reforecasts and claims provisions, future prospects, and potential future significant contract opportunities, including those in the Nuclear segment; and ii) business and management strategies and the expansion and growth of the Company’s operations. All such forward-looking statements are made pursuant to the “safe-harbour” provisions of applicable Canadian securities laws. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions and/or results could differ materially from those expressed or implied in such forward-looking statements, or could affect the extent to which a particular projection materializes. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company’s current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company’s business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. This presentation also provides, on slides 3, 11, 15, and 20, the Company’s outlook regarding expectations of the Company’s performance with respect to certain financial metrics and measures. This outlook is based on the assumptions and methodology described in the Company’s 2025 Annual Management’s Discussion and Analysis (“2025 Annual MD&A”) under the heading “How We Budget and Forecast Our Results” and is subject to the risks and uncertainties summarized herein and in the 2025 Annual MD&A, in each case as may be updated from time to time throughout 2026. Forward-looking statements made in this presentation are based on a number of assumptions believed by the Company to be reasonable as at November 4, 2026. The assumptions are set out throughout the Company’s 2025 Annual MD&A (particularly in the sections entitled “Critical Accounting Judgements and Key Sources of Estimation Uncertainty” and “How We Analyze and Report Our Results”) filed with the securities regulatory authorities in Canada, available on SEDAR+ at www.sedarplus.com and on the Company’s website at www.atkinsrealis.com under the “Investors” section. If these assumptions are inaccurate, the Company’s actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important risk factors could cause the Company’s assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. Those risks are identified in the Company’s 2025 Annual MD&A and in the Company’s Management’s Discussion and Analysis dated November 4, 2026 (particularly in the section entitled “Risks and Uncertainties”) and are not exhaustive. The forward-looking statements herein reflect the Company’s expectations as at the date of this presentation and are subject to change after this date. The Company does not undertake to update publicly or to revise any written or oral forward-looking information or statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement. Forward-Looking Statements, Forward-Looking Financial Information and Outlook The Company reports its financial results in accordance with IFRS® Accounting Standards (“IFRS”). However, the following non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information are used by the Company to analyze and evaluate its results and are included in this presentation: Organic revenue growth (contraction), Segment Adjusted EBITDA to segment net revenue ratio, Segment Adjusted EBITDA, Adjusted Diluted EPS, Net limited recourse and recourse debt to Adjusted EBITDA ratio, Net limited recourse and recourse debt, Adjusted EBITDA, Free cash flow (usage), and Free cash flow to Adjusted net income (loss) attributable to AtkinsRéalis shareholders ratio, as well as certain measures for various reportable segments that are grouped together, such as Revenue, Segment Adjusted EBIT and Backlog for the various Engineering Services Regions segments. Additional details for these non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information can be found in Sections 4, 6 and 9 of the Company’s third quarter 2026 MD&A, which sections are incorporated by reference into this presentation, filed with the securities regulatory authorities in Canada, available on SEDAR+ at www.sedarplus.com and on the Company’s website at www.atkinsrealis.com under the “Investors” section, including the various reconciliations of non-IFRS measures to the most directly comparable IFRS measures in Sections 4, 6 and 9 (which sections in the Company’s third quarter 2026 MD&A are incorporated by reference into this presentation). Non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information do not have any standardized meaning under IFRS and other issuers may define these measures differently and, accordingly, they may not be comparable to similar measures prepared by other issuers. Management believes that, in addition to conventional measures prepared in accordance with IFRS, these non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information provide additional insight into the Company’s operating performance and financial position, and certain investors may use this information to evaluate the Company’s performance from period to period. However, these measures, ratios and non-financial information have limitations and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. CANDU® is a registered trademark of Atomic Energy of Canada Limited (“AECL”), used under exclusive license by Candu Energy Inc., a subsidiary of AtkinsRéalis Group Inc. MONARKTM is a trademark of Candu Energy Inc., a subsidiary of AtkinsRéalis Group Inc. Non-IFRS Financial Measures and Ratios, Supplementary Financial Measures, Total of Segments Measures and Non-Financial Information
Page 3
Third Quarter Highlights 10.7% Revenue growth (YoY) 8.7% Organic revenue growth1 (YoY) $301M (12% increase YoY) Segment Adjusted EBIT $20.5B (2% decrease YoY) Backlog as at September 30, 2026 0.2 Net limited recourse & recourse debt to Adjusted EBITDA ratio1 as at September 30, 2026 ▪ Quarterly record high revenue of $3.1B ▪ Quarterly record high Adjusted EBITDA ▪ Strong increase in Adjusted diluted EPS ▪ Continue to execute on our disciplined capital allocation strategy, including M&A and share buybacks ▪ AI buildout creating additional opportunities across several end- markets ▪ 2026 Engineering Services Regions organic revenue growth outlook revised lower due to ongoing Middle East conflict3 1Organic revenue growth, Adjusted diluted EPS and Net limited recourse and recourse debt to Adjusted EBITDA ratio are non-IFRS ratios. Please refer to endnotes 1, 4 and 5 on slide 22 of this presentation for details on these non-IFRS ratios. 2Adjusted EBITDA is a non-IFRS financial measure. Please refer to endnote 7 on slide 22 of this presentation for details on this non-IFRS financial measure. 3Please refer to slides 15 of this presentation for details on such revised outlook. 3 $331M (14% increase YoY) Adjusted EBITDA2 $0.83 Diluted EPS $1.20 (9% increase YoY) Adjusted diluted EPS1
Page 4
Engineering Services Regions 1Organic revenue growth is a non-IFRS ratio. Please refer to endnote 1 on slide 22 of this presentation for details on this non- IFRS ratio. 2Segment Adjusted EBITDA margin is a shorthand reference to Segment Adjusted EBITDA to segment net revenue ratio, which is a non-IFRS ratio. Please refer to endnote 2 on slide 22 of this presentation for details on this non-IFRS ratio. The Engineering Services Regions Segment Adjusted EBIT to segment revenue ratio for Q3 2026 is 10.9%. 3Revenue and Backlog for Engineering Services Regions are total of segments measures. Please refer to endnote 10 on slide 22 of this presentation for details on total of segments measures. 3.2% Organic revenue growth1 (YoY) 18.0% (vs 17.2% Q3 2025) Segment Adjusted EBITDA margin2 Revenue3 ($M) Backlog3 ($M) 1,939 2,057 Q3 2025 Q3 2026 +6% 13,045 13,073 30-Sep-25 30-Sep-26 0% 44 East Harbour Transit Hub Toronto, Canada
Page 5
5 Canada 1Organic revenue growth is a non-IFRS ratio. Please refer to endnote 1 on slide 22 of this presentation for details on this non-IFRS ratio. 2Segment Adjusted EBITDA margin is a shorthand reference to Segment Adjusted EBITDA to segment net revenue ratio, which is a non-IFRS ratio. Please refer to endnote 2 on slide 22 of this presentation for details on this non-IFRS ratio. The Segment Adjusted EBIT to segment revenue ratio for Canada for Q3 2026 is 9.4%. ▪ Continued growth and positive performance across all end-markets, driven by ongoing demand in transportation and power & renewables ▪ Well-positioned to pursue opportunities from major project announcements and capital commitments in energy, transportation, defence and northern infrastructure ▪ Continuous improvement initiatives driving margin through disciplined bidding, operational efficiency, and improved project execution Q3 Key Highlights Power & Renewables Transportation Buildings & Places Industrial Defence Water Revenue ($M) Backlog ($M) 352 420 Q3 2025 Q3 2026 +19% 7,833 7,375 30-Sep-25 30-Sep-26 -6% 19.1% Organic revenue growth1 (YoY) 17.9% (vs. 17.2% Q3 2025) Segment Adjusted EBITDA margin2
Page 6
6 UKI 1Organic revenue growth is a non-IFRS ratio. Please refer to endnote 1 on slide 22 of this presentation for details on this non-IFRS ratio. 2Segment Adjusted EBITDA margin is a shorthand reference to Segment Adjusted EBITDA to segment net revenue ratio, which is a non-IFRS ratio. Please refer to endnote 2 on slide 22 of this presentation for details on this non-IFRS ratio. The Segment Adjusted EBIT to segment revenue ratio for UKI for Q3 2026 is 13.0%. ▪ Backlog and pipeline provide a solid platform for growth ▪ Water, power, industrials and aviation continued to provide strong growth momentum. Water is benefiting from the new investment cycle ▪ Secured strategically important positions across core end markets, including Yorkshire Water AMP8 and key rail, aviation and rail systems projects on a £4B UK-government National Framework ▪ Ireland continued to perform strongly, supported by the integration of TOBIN ▪ UKI continued to receive strong external recognition, with AtkinsRéalis retaining the #1 position in Building magazine's Top 150 UK Consultants 2026 and achieving its 17th consecutive RoSPA Gold Award Q3 Key Highlights Power & Renewables Transportation Buildings & Places Defence Water Revenue ($M) Backlog ($M) 714 752 Q3 2025 Q3 2026 +5% 1,904 2,074 30-Sep-25 30-Sep-26 +9% 3.4% Organic revenue growth1 (YoY) 19.4% (vs. 18.6% Q3 2025) Segment Adjusted EBITDA margin2
Page 7
7 USLA 1Organic revenue growth is a non-IFRS ratio. Please refer to endnote 1 on slide 22 of this presentation for details on this non-IFRS ratio. 2Segment Adjusted EBITDA margin is a shorthand reference to Segment Adjusted EBITDA to segment net revenue ratio, which is a non-IFRS ratio. Please refer to endnote 2 on slide 22 of this presentation for details on this non-IFRS ratio. The Segment Adjusted EBIT to segment revenue ratio for USLA for Q3 2026 is 11.9%. ▪ Continued strength in power and transportation with projects ramping up in Texas and Florida, as well as good volume in aviation ▪ Strong EBITDA margin performance ▪ While funding uncertainty and extended project timelines continued to affect near-term activity in the public sector, the private sector remained robust, especially in the industrial end-markets of pharma, semiconductors, data centers and power generation ▪ David Evans buyout of remaining 30% post quarter-end will enable accelerated collaboration and deepen integration activities Q3 Key Highlights Minerals & Metals Transportation Buildings & Places Water Revenue ($M) Backlog ($M) 540 565 Q3 2025 Q3 2026 +5% 1,786 1,894 30-Sep-25 30-Sep-26 +6% Industrial 2.2% Organic revenue growth1 (YoY) 18.6% (vs. 15.8% Q3 2025) Segment Adjusted EBITDA margin2
Page 8
8 AMEA 1Organic revenue contraction is a non-IFRS ratio. Please refer to endnote 1 on slide 22 of this presentation for details on this non-IFRS ratio. 2Segment Adjusted EBITDA margin is a shorthand reference to Segment Adjusted EBITDA to segment net revenue ratio, which is a non-IFRS ratio. Please refer to endnote 2 on slide 22 of this presentation for details on this non-IFRS ratio. The Segment Adjusted EBIT to segment revenue ratio for AMEA for Q3 2026 is 6.2%. ▪ Ongoing Middle East conflict continued to create near-term performance uncertainties and project award delays ▪ Robust near- and medium-term opportunity pipeline across all key markets, particularly in transportation across the Middle East and Asia, and in defence and power across Australia ▪ Strong momentum in Hong Kong, highlighted by awards related to the Northern Metropolis and infrastructure works within the Hong Kong-Shenzhen Innovation and Technology Park ▪ EBITDA margin mainly impacted by a changing business mix in the Middle East ▪ WGA and Coras acquisitions successfully completed in September and October respectively, establishing a strong foundation in Australia Q3 Key Highlights Power & Renewables Transportation Defence Revenue ($M) Backlog ($M) 333 320 Q3 2025 Q3 2026 -4% 1,521 1,730 30-Sep-25 30-Sep-26 +14% Industrial Buildings & Places (12.4)% Organic revenue contraction1 (YoY) 12.9% (vs. 16.3% Q3 2025) Segment Adjusted EBITDA margin2
Page 9
Nuclear Backlog ($M)Revenue ($M) 10.2% Organic revenue growth1 (YoY) 25.0% (vs 26.2% Q3 2025) Segment Adjusted EBITDA margin3 11.3% (vs 11.1% Q3 2025) Segment Adjusted EBIT margin2 596 658 Q3 2025 Q3 2026 +10% 5,425 4,345 30-Sep-25 30-Sep-26 -20% 1Organic revenue growth is a non-IFRS ratio. Please refer to endnote 1 on slide 22 of this presentation for details on this non- IFRS ratio. 2Segment Adjusted EBIT margin is a shorthand reference to Segment Adjusted EBIT to segment revenue ratio.3Segment Adjusted EBITDA margin is a shorthand reference to Segment Adjusted EBITDA to segment net revenue ratio, which is a non-IFRS ratio. Please refer to endnote 2 on slide 22 of this presentation for details on this non-IFRS ratio. 9 Pickering Nuclear Generating Station Ontario, Canada
Page 10
Nuclear Q3 Key Highlights Services ▪ Signed as part of a JV a 3-year $1.7B contract with Ontario Power Generation to begin Unit 5 work associated with the Pickering Nuclear Generating Station refurbishment ▪ Continued progress on the licensing for CANDU in the U.S. following June 2026 Letter of Intent with key milestones being achieved ▪ Progressing on Canadian and international refurbishment projects and Cernavoda New Build ▪ Active bidding and discussions continue across key markets as several countries explore opportunities for large new nuclear projects ▪ Continued progress on MonarkTM development ▪ Continued collaboration with NVIDIA on Nuclear-powered AI factories ▪ Support for EAGL-1 SMR projects and ongoing U.S. DOE programs, including the cleanup mission and medical isotope work with TerraPower ▪ Progressing on Sizewell C project, with key civil works advancing, including early design and digital delivery milestones ▪ Expanding support at Hinkley Point C as the project progresses towards energization CANDU® 10 CANDU Energy Ontario, Canada Hinkley Point C Somerset, England Darlington Nuclear Generating Station Ontario, Canada
Page 11
Total Nuclear Backlog $0.9B Dec. 31 $1.9B Dec. 31 $3.2B Dec.31 CANDU Delivers Revenue Today and into the Future Bright Future Under Contract New Build Potential MarketIn Discussion / Development Life Extension Projects New Builds International Canada Monark Development Life Extension Projects New Builds $5.0B Dec. 31 Wolsong 2 to 4 Qinshan 3-1 and 3-2 Phase 1 Phase 2 Cernavoda 1 Phases 1 – 2 Bruce 3 to 8 Phase 2Cernavoda 3 and 4 (EC6) Phase 1 11 Phase 1Pickering 5 to 8 Phase 1 and Phase 2a (Unit 5) Licensing in U.S. Asia | Monark/EC6 opportunities 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 $4.3B Sept. 30 Darlington 1 to 4 Poland | EC6 opportunities Saskatchewan | Monark/EC6 opportunities New Brunswick | EC6 opportunity Alberta | Monark/EC6 opportunities Ontario | Monark opportunities Opportunities with hyperscalers Opportunities with hyperscalers Commenced licensing process for CANDU Türkiye | EC6 opportunities Phase 2b Indiana | EC6 opportunities
Page 12
FINANCIAL PERFORMANCE 12
Page 13
Q3 Selected Financial Metrics in $M, except otherwise indicated 13 Note that certain totals and sub-totals may not reconcile due to rounding. 1Revenue and Segment Adjusted EBIT for Engineering Services Regions are total of segments measures. Please refer to endnote 10 on slide 22 of this presentation for details on total of segments measures. 2Adjusted diluted EPS is a non-IFRS ratio. Please refer to endnote 4 on slide 22 of this presentation for details on this non-IFRS ratio. Revenue Engineering Services Regions1 2,057.2 1,939.3 6% Nuclear 658.2 596.5 10% All other segments 394.0 272.0 45% Total Revenue 3,109.4 2,807.8 11% Q3 2026 Q3 2025 Change Segment Adjusted EBIT Engineering Services Regions1 224.0 200.5 12% Nuclear 74.1 66.0 12% All other segments 3.1 2.7 16% Total Segment Adjusted EBIT 301.1 269.2 12% Corporate SG&A 20.1 27.1 (26)% Acquisition-related and integration costs 22.5 0.4 N/A Net financial expenses 11.3 22.1 (49)% Income tax expense 50.1 23.9 110% Net income attributable to AtkinsRéalis shareholders 133.3 146.7 (9)% Diluted EPS ($) 0.83 0.88 (6)% Adjusted diluted EPS2 ($) 1.20 1.10 9% Revenue Profitability Other Items Bottom Line
Page 14
2025-2027 Target: 1.0x to 2.0x Net Limited Recourse and Recourse Debt to Adjusted EBITDA Ratio1 Capital Returned to Shareholders and M&A 1Net limited recourse and recourse debt to Adjusted EBITDA ratio is a non-IFRS ratio. Please refer to endnote 5 on slide 22 of this presentation for details on this non-IFRS ratio. 14 Cash Flow, Capital Resources and Liquidity in $M, except otherwise indicated After Q3 2026, in October, AtkinsRéalis closed the acquisition of Australia-based Coras and on November 3, 2026, acquired the remaining 30% equity interest in David Evans in the U.S. 123 47 Q3 2025 Q3 2026 Q3 2025 Q3 2026 27 395 -0.3 -0.5 -0.4 -0.1 0.2 30-Sep-25 31-Dec-25 31-Mar-26 30-Jun-26 30-Sep-26 Nine months ended Sept. 30, 2025 Nine months ended Sept. 30, 2026 1,230 731 60 228 Nine months ended Sept. 30, 2025 Nine months ended Sept. 30, 2026 Dividends Buybacks Acquisitions Net Cash Flow from Operating Activities
Page 15
Growth Pillars 2026 Revised Outlook1 15 1This outlook was provided as at February 27, 2026, and revised subsequently on August 6, 2026, and November 5, 2026, to assist analysts and investors in formulating their respective views on the year ending December 31, 2026. The following information is based on current expectations. This information is forward-looking and the actual results could differ materially. The 2026 Outlook section should be read in conjunction with the information on forward-looking statements at the beginning of this presentation. 2Organic revenue growth and Segment Adjusted EBITDA to segment net revenue ratio are non-IFRS ratios. Please refer to endnotes 1 and 2 on slide 22 of this presentation for details on these non-IFRS ratios. Nuclear Engineering Services Regions Other Metrics Low single digit % Prior: 5-7% Organic revenue growth2 2025 vs. 2024: 0.9% ~$2.7B Prior: ~$2.5B Revenue 2025: $2.3B 16.5 - 17.5% Segment Adjusted EBITDA to segment net revenue ratio2 2025: 16.3% 11 - 12% Segment Adjusted EBIT to segment revenue ratio 2025: 11.2% Mid 20’s (%) Segment Adjusted EBITDA to segment net revenue ratio2 2025: 25.5% $125M - 135M Corporate selling, general and administrative expenses 2025: $145M $175M - 200M Acquisition of property and equipment and additions to intangible assets 2025: $177M ~$500M Net cash generated from operating activities 2025: $461M 25 - 30% Effective tax rate 2025: 13.0% Seasonality and Adj. EBITDA Fluctuations 18 - 20% Q1 2026 2025: 21% 24 - 26% Q2 2026 2025: 25% 26 - 28% Q3 2026 2025: 29% 26 - 28% Q4 2026 2025: 25%
Page 16
CONCLUSION 16
Page 17
Conclusion ▪ Strong third quarter performance, with improved profitability, and record quarterly revenue and Adjusted EBITDA ▪ Navigating challenges in the Middle East, but taking the actions necessary to position the AMEA business for continued growth ▪ AI infrastructure is driving significant demand for reliable, large-scale power generation creating substantial opportunities for our CANDU technology, while the broader AI buildout is also creating additional opportunities across data centers, water and cooling ▪ Our positive cash flow and strong balance sheet provide us the financial flexibility to continue investing in our business, pursuing disciplined acquisitions and returning capital to shareholders ▪ We remain focused on executing our Delivering Excellence, Driving Growth strategy 17 AtkinsRéalis Montréal, Canada
Page 18
QUESTIONS & ANSWERS 18
Page 19
2025-2027 FINANCIAL TARGETS 19
Page 20
Revised 2025 – 2027 Targets2 Financial Targets 2025 -20271 set in 2024, subsequently revised and updated 2 1Reference is made to the Company's press release dated June 13, 2024, for details of the limitations of and assumptions underlying these financial targets. 2The 2025-2027 financial targets were revised subsequently on May 15, 2025 and on February 27, 2026. For details, please see the press releases of the Company dated May 15, 2025 and February 27, 2026. 3Organic revenue growth, Segment Adjusted EBITDA to segment net revenue ratio, Net limited recourse and recourse debt to Adjusted EBITDA ratio, and Free cash flow to Adjusted net income (loss) attributable to AtkinsRéalis shareholders ratio are non-IFRS ratios. Please refer to endnotes 1, 2, 5 and 9 on slide 22 of this presentation for details on these non-IFRS ratios. 20 2025 Actuals Engineering Services Regions Organic revenue growth3 CAGR 2025 – 2027 Between 5% and 7% Initial: >8% 0.9% Segment Adjusted EBITDA to segment net revenue ratio3 by 2027 Between 17% and 18% 16.3% Nuclear Annual revenue by 2027 Between $2.6B and $3.0B Initial: Between $1.8B and $2.0B $2.3B Segment Adjusted EBIT to segment revenue ratio Between 11% and 13% Initial: Between 12% and 14% 11.2% Net limited recourse and recourse debt to Adjusted EBITDA ratio3 Between 1.0 and 2.0 (0.5) Free cash flow to Adjusted net income ratio3 Between ~80% and 90% 33.2%
Page 21
Contact Us Denis Jasmin CPA, F.CIRI Vice-President, Investor Relations +1 514 393 8000 ext. 57553 Book a call with Investor Relations: www.atkinsrealis.com/investors Send Investor Relations an email:
Page 22
(See also the cautionary statement regarding non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information at slide 2 of this presentation.) 1. Organic revenue growth (contraction) ratio is a non-IFRS ratio comparing organic revenue, itself a non-IFRS financial measure, between two periods and does not have a standardized definition within IFRS and therefore may not be comparable to similar measures presented by other issuers. Further details, including an explanation of the composition and usefulness of this ratio, as well as a calculation of this ratio, are provided at Sections 4 and 9 of the Company’s third quarter 2026 MD&A, available on SEDAR+ at www.sedarplus.com, which sections are incorporated by reference into this presentation. 2. Segment Adjusted EBITDA to segment net revenue is a non-IFRS ratio based on Segment Adjusted EBITDA and Segment net revenue, both of which are non-IFRS financial measures, and do not have a standardized definition within IFRS and therefore may not be comparable to similar measures presented by other issuers. Further details, including an explanation of the composition and usefulness of this ratio, as well as a calculation of this ratio, are provided at Sections 4 and 9 of the Company’s third quarter 2026 MD&A, available on SEDAR+ at www.sedarplus.com, which sections are incorporated by reference into this presentation. 3. Segment Adjusted EBITDA is a non-IFRS financial measure that does not have a standardized definition within IFRS and therefore may not be comparable to similar measures presented by other issuers. Further details, including an explanation of the composition and usefulness of this measure, as well as a reconciliation to the most directly comparable IFRS financial measure, are provided at Sections 4 and 9 of the Company’s third quarter 2026 MD&A, available on SEDAR+ at www.sedarplus.com, which sections are incorporated by reference into this presentation. 4. Adjusted diluted EPS is a non-IFRS ratio based on adjusted net income (loss) attributable to AtkinsRéalis shareholders, itself a non-IFRS financial measure, and does not have a standardized definition within IFRS and therefore may not be comparable to similar measures presented by other issuers. Further details, including an explanation of the composition and usefulness of this ratio, as well as a calculation of this ratio, are provided at Sections 4 and 9 of the Company’s third quarter 2026 MD&A, available on SEDAR+ at www.sedarplus.com, which sections are incorporated by reference into this presentation. 5. Net limited recourse and recourse debt to Adjusted EBITDA ratio is a non-IFRS ratio based on net limited recourse and recourse debt at the end of a given period and Adjusted EBITDA of the corresponding trailing twelve-month period, both of which are non-IFRS financial measures, and does not have a standardized definition within IFRS and therefore may not be comparable to similar measures presented by other issuers. Further details, including an explanation of the composition and usefulness of this ratio, as well as a calculation of this ratio, are provided at Sections 6 and 9 of the Company’s third quarter 2026 MD&A, available on SEDAR+ at www.sedarplus.com, which sections are incorporated by reference into this presentation. 6. Net limited recourse and recourse debt is a non-IFRS financial measure that does not have a standardized definition within IFRS and therefore may not be comparable to similar measures presented by other issuers. Further details, including a reconciliation of this non-IFRS financial measure to the most directly comparable financial measure, are provided at Sections 6 and 9 of the Company’s third quarter 2026 MD&A, available on SEDAR+ at www.sedarplus.com, which sections are incorporated by reference into this presentation. 7. Adjusted EBITDA is a non-IFRS financial measure that does not have a standardized definition within IFRS and therefore may not be comparable to similar measures presented by other issuers. Further details, including an explanation of the composition and usefulness of this measure, as well as a reconciliation to the most directly comparable IFRS financial measure, are provided at Sections 4 and 9 of the Company’s third quarter 2026 MD&A, available on SEDAR+ at www.sedarplus.com, which sections are incorporated by reference into this presentation. 8. Free cash flow (usage) is a non-IFRS financial measure that does not have a standardized definition within IFRS and therefore may not be comparable to similar measures presented by other issuers. Further details, including an explanation of the composition and usefulness of this measure, as well as a reconciliation to the most directly comparable IFRS financial measure, are provided at Sections 6 and 9 of the Company’s third quarter 2026 MD&A, available on SEDAR+ at www.sedarplus.com, which sections are incorporated by reference into this presentation. 9. Free cash flow to Adjusted net income (loss) attributable to AtkinsRéalis shareholders ratio is a non-IFRS ratio based on free cash flow and Adjusted net income (loss) attributable to AtkinsRéalis shareholders, both non-IFRS financial measures, and does not have a standardized definition within IFRS and therefore may not be comparable to similar measures presented by other issuers. Further details, including an explanation of the composition and usefulness of this ratio, as well as a calculation of this ratio, are provided at Sections 6 and 9 of the Company’s third quarter 2026 MD&A, available on SEDAR+ at www.sedarplus.com, which sections are incorporated by reference into this presentation. 10. National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure (“NI 52-112”) defines a “total of segments measure” as a financial measure disclosed by an issuer that is a subtotal or total of two or more reportable segments of an entity, is not a component of a line item disclosed in the primary financial statements of the entity, is disclosed in the notes to the financial statements of the entity, and is not disclosed in the primary financial statements of the entity. Revenues, Backlog and Segment Adjusted EBIT for Engineering Services Regions are total of segments measures, as defined in NI 52-112. Further details, including calculations and reconciliations to the most directly comparable IFRS financial measure, are provided at Sections 4 and 9 of the Company’s third quarter 2026 MD&A, available on SEDAR+ at www.sedarplus.com, which sections are incorporated by reference into this presentation. 22 Endnotes