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Q3 2025 FINANCIAL RESULTS NOVEMBER 5, 2025
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Cautionary statement and non-IFRS measures CAUTIONARY STATEMENT Certain information contained herein is not based on historical or current facts and may constitute forward-looking statements or forward-looking information (collectively, “forward-looking statements”) under Canadian securities laws. Forward-looking statements can typically be identified by terminology such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “forecast”, “project”, “intend”, “target”, “potential”, “continue” or the negative of these terms or terminology of a similar nature. Forward-looking statements made by the Corporation in this presentation include, without limitation, statements about the revised 2025 financial outlook; our strategic ambitions; our future growth and potential; our profitability; our proposed strategy and our operating performance; our aim to grow our key markets; our outlook regarding emergency response services in the U.S; and the completion of the new hospital in France. Forward-looking statements made by the Corporation are based on a number of operational and other assumptions believed by the Corporation to be reasonable as at the date such statements were made, including assumptions set out through this presentation, the press releases issued on February 12, 2025, August 6, 2025 and November 5, 2025, as well as under section 16, “Forward-Looking Statements” of WSP's management's discussion & analysis ("MD&A") for the third quarter and nine-month period ended September 27, 2025, which is available on SEDAR+ at www.sedarplus.ca and which section is incorporated herein by reference. Although WSP believes that the expectations reflected in such forward-looking statements are reasonable as at the date such statements were made, it can give no assurance that such expectations will prove to have been correct. In evaluating these forward-looking statements, investors should specifically consider various risk factors, which, if realized, could cause the Corporation's actual results or events to differ materially from those expressed or implied in forward-looking statements. Such risk factors are discussed in greater detail in section 20, “Risk Factors” of WSP’s MD&A for the fourth quarter and year ended December 31, 2024 and as supplemented by section 17, “Risk Factors” of WSP's MD&A for the third quarter and nine-month period ended September 27, 2025, which are available on SEDAR+ at www.sedarplus.ca and which sections are incorporated herein by reference. Actual results and events may be significantly different from what we currently expect because of the risks associated with our business, industry and global economy and of the assumptions made in relation to these risks. As such, there can be no assurance that actual results will be consistent with forward-looking statements. The forward-looking statements contained in this presentation describe the Corporation’s expectations as of the date hereof and, accordingly, are subject to change after such date. Except as may be required under Canadian securities laws, the Corporation does not assume any obligation to publicly update or to revise any forward-looking statements made in this presentation or otherwise, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement. The Corporation may also make oral forward-looking statements from time to time. The Corporation advises that the above paragraph and the risk factors set forth in section 20, “Risk factors” of WSP’s MD&A for the fourth quarter and year ended December 31, 2024, and as supplemented by section 17, “Risk Factors” of WSP's MD&A for the third quarter and nine-month period ended September 27, 2025 should be read for a description of certain factors that could cause the actual results of the Corporation to differ materially from the results expressed or implied in any oral forward-looking statements. Readers should not place undue reliance on forward- looking statements. NON-IFRS AND OTHER FINANCIAL MEASURES The Corporation reports its financial results in accordance with International Accounting Standard 34 Interim Financial Reporting. WSP uses a number of financial measures when assessing its results and measuring overall performance. Some of these financial measures are not calculated in accordance with International Financial Reporting Standards Accounting Standards ("IFRS"). Regulation 52-112 respecting Non-GAAP and Other Financial Measures Disclosure prescribes disclosure requirements that apply to the following types of measures used by the Corporation: (i) non-IFRS financial measures; (ii) non-IFRS ratios; (iii) total of segments measures; (iv) capital management measures; and (v) supplementary financial measures. In this presentation, the following non-IFRS and other financial measures may be used by the Corporation: net revenues; adjusted EBITDA; adjusted EBITDA margin; adjusted EBITDA margin by segment; adjusted net earnings; adjusted net earnings per share; free cash flow; net revenue organic growth (contraction); organic backlog growth (contraction); days sales outstanding (DSO); additional details for these non-IFRS and other financial measures can be found in section 19, “Glossary of segment reporting, non-IFRS and other financial measures” of the Corporation's MD&A for the third quarter and nine-month period ended September 27, 2025, which section is incorporated herein by reference in this presentation. Reconciliations of non-IFRS financial measures and total of segments measures to the most directly comparable IFRS measures are provided in sections 8.1, “Net revenues”, 8.3, “Adjusted EBITDA”, 8.8, “Adjusted net earnings” and 9.1, “Operating activities and free cash flow,” of WSP's MD&A for the third quarter and nine-month period ended September 27, 2025, which sections are incorporated by reference in this presentation. Management believes that these non-IFRS and other financial measures provide useful information to investors regarding the Corporation’s financial condition and results of operations as they provide key metrics of its performance. These non-IFRS and other financial measures are not recognized under IFRS, do not have any standardized meanings prescribed under IFRS and may differ from similar computations as reported by other issuers, and accordingly may not be comparable. These measures should not be viewed as a substitute for the related financial information prepared in accordance with IFRS. ALL AMOUNTS ARE EXPRESSED IN CANADIAN DOLLARS UNLESS OTHERWISE INDICATED 2
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3 Q3 2025 HIGHLIGHTS
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$4.53B (+13.8% vs Q3 2024) Revenues $3.46B (+15.6% vs Q3 2024) Net Revenues(1) 3.7% Organic growth in Net Revenues(2) $700.4M (+19.6% vs Q3 2024) Adjusted EBITDA(3) 20.2% (70bps increase vs Q3 2024) Adjusted EBITDA margin(3) $450.8M (+28.2% vs Q3 2024) Earnings before net financing expense and income taxes ("EBIT") $368.8M (+31.8% vs Q3 2024) Adjusted net earnings(3) $284.5M (+39.7% vs Q3 2024) Net earnings attributable to shareholders $16.4B Backlog up 10.6% in the twelve- month period, and representing 10.9 months of revenues(4) $887.4M Free cash flow for the nine-month period(3) $1.26B Cash inflows from operating activities for the nine-month period 4 1. Total of segments measure. Quantitative reconciliations of net revenues to revenues are incorporated herein by reference to section 8.1, “Net revenues,” of WSP’s MD&A for the third quarter and nine-month period ended September 27, 2025, which is available on SEDAR+ at www.sedarplus.ca. 2. Supplementary financial measure. Net revenue organic growth represents the period-over- period change in net revenues, excluding net revenues of businesses acquired or divested in the twelve months following the acquisition or prior to the divestiture, expressed as a percentage of the comparable period net revenues, adjusted to exclude net revenues of divested businesses, all calculated to exclude the impact of foreign exchange. 3. Non-IFRS financial measure or non-IFRS ratio without a standardized definition under IFRS, which may not be comparable to similar measures or ratios used by other issuers. This presentation incorporates herein by reference section 8.3, “Adjusted EBITDA”, section 8.8, “Adjusted net earnings” and section 9.1, “Operating activities and free cash flow”, as well as section 19, “Glossary of segment reporting, non-IFRS and other financial measures”, of WSP’s MD&A for the third quarter and nine-month period ended September 27, 2025 available on SEDAR+ at www.sedarplus.ca, for explanations of the composition and usefulness of these non-IFRS financial measures and non-IFRS ratios, as well as the quantitative reconciliations of the non-IFRS financial measures to the most directly comparable IFRS measures. 4. Based on revenues for the trailing twelve-month period, incorporating a full twelve months of revenues for all acquisitions. Q3 2025 HIGHLIGHTS
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Net Revenue organic growth (contraction) As reported Net revenue organic growth (contraction) As adjusted* Canada* 4.4% 6.0 % • *Adjusted to exclude the favourable impact of revisions to estimated contract revenues on a significant project in the third quarter of 2024 in Canada. • Backlog grew organically 15.1% in the nine-month period1. Americas* 4.5% 6.6 % • *Adjusted to exclude the impact of the lower demand for emergency response services in the U.S. in Q3 2025 when compared to the high demand in Q3 2024. • Organic growth excludes POWER Engineers’ contribution in the mid-teens. EMEIA 6.4% 6.4 % • The UK delivered organic growth in the low-double-digits in the quarter. • Healthy backlog growth in the Nordics in the quarter. 5.1% 6.4% APAC (3.9) % (3.9) % • New Zealand has returned to organic growth in the quarter after four quarters of contraction. • Increased order intake in Australia and New Zealand in the quarter. 3.7% 4.8% 5 1. Supplementary financial measure. Organic backlog growth (contraction) represents firm order intake less revenues for the peri od, both calculated to exclude the impact of foreign exchange, and also excluding order intake through business acquisitions in the period, net of divestitures, expressed as a pe rcentage of the opening backlog for the period. Q3 2025 HEALTHY UNDERLYING PERFORMANCE DESPITE UNCERTAINTY CONSOLIDATED 1.6% 2.1% CONSOLIDATED — —
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6 The 2025 financial outlook* issued on February 12, 2025 (as reiterated on May 7, 2025 and revised on August 6, 2025) is reiterated as well as key related assumptions, with the exception of the below changes indicated in the table. This outlook is provided as at November 5, 2025 to assist analysts and shareholders in formalizing their respective views on the year ending December 31, 2025. The reader is cautioned that using this information for other purposes may be inappropriate * This information constitutes forward-looking information within the meaning applicable securities laws, based on multiple estimates and assumptions about future events. Expectations are also subject to a number of risks and uncertainties as well as material assumptions contained in this presentation and in WSP's Management's Discussion and Analysis (“MD&A”) for the fourth quarter and year ended December 31, 2024 and the MD&A for the third quarter and nine-month period ended September 27, 2025 each as filed on SEDAR+ at www.sedarplus.ca. Please read the full discussion under the section titled "Forward-looking statements" of this presentation. 2025 REVISED FINANCIAL OUTLOOK* Revised Outlook Range* Previous Outlook Range* Fiscal 2024 Results Revenues N/A N/A $16.17 billion Net Revenues Between $13.8 billion and $14.0 billion Between $13.5 billion and $14.0 billion $12.17 billion Adjusted EBITDA Between $2.540 billion and $2.560 billion Between $2.50 billion and $2.55 billion $2.19 billion Earnings before net financing expense and income taxes N/A N/A $1.27 billion
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Four core end-markets supported by secular trends EARTH & ENVIRONMENT WSP has been awarded funding for the SatCaribou project as part of the Canadian Space Agency’s (CSA) Satellite Mobilization for Biodiversity Action opportunity. POWER & ENERGY More than four in five Americans (83 percent) are concerned about the affordability of electricity, yet many (65 percent) would be willing to pay slightly more for electricity if it meant building a more reliable electric grid, according to the WSP Pulse Report: Energy. TRANSPORT & INFRASTRUCTURE As a named supplier on Management Consultancy Framework Four (MCF4), WSP, continues to build its growing presence as a consultancy partner to government, enabling public sector organisations across the UK to access the firm’s multidisciplinary expertise across a range of policy, infrastructure, digital, and place-based challenges. PROPERTY & BUILDINGS We are supporting Lilly Gateway Labs’ expansion into the third floor of 201 Haskins Way in San Francisco, United States, where the pharmaceutical company provides state-of-the-art laboratory and flexible office space for emerging biotechs. 7
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Q3 2025 FINANCIAL PERFORMANCE 8
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Q3 2024 $3,983.9 Q3 2025 $4,533.7 Revenues Numbers are quoted in millions of dollars (except percentages) Net revenues 9 +14% +16% Q3 2024 Q3 2025 $2,996.9 $3,463.1
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+20% Q3 2024 $351.7 Q3 2025 $450.8 Numbers are quoted in millions of dollars (except percentages) 10 Q3 2024 Q3 2025 $585.4 $700.4 EBIT Adjusted EBITDA ($) and adjusted EBITDA margin (%) +28% 19.5% 20.2%+70 bps
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Q3 2024 $203.6 Q3 2025 $284.5 11 Net earnings attributable to shareholders and basic net earnings per share attributable to shareholders Adjusted net earnings and adjusted net earnings per share(1) +40% +32% Numbers are quoted in millions of dollars (except per share amounts and percentages) 1. Non-IFRS ratio without a standardized definition under IFRS, which may not be comparable to similar ratios used by other issuers . This presentation incorporates herein by reference section 19, “Glossary of segment reporting, non-IFRS and other financial measures”, of WSP’s MD&A for the third quarter and nine-month period ended September 27, 2025, which is available on SEDAR+ at www.sedarplus.ca, for explanations of the composition and usefulness of this non-IFRS ratio. $1.63 per share $2.18 per share Q3 2024 $279.8 $2.24 per share Q3 2025 $368.8 $2.82 per share+26% per share+34% per share
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80 72 70 69 71 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 1. DSO is a supplementary financial measure. DSO represents the average number of days to convert WSP's trade receivables (net o f sales taxes) and costs and anticipated profits in excess of billings, net of billings in excess of costs and anticipated profi ts, into cash. Days sales outstanding (DSO)1 12
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Q3 2025 SEGMENT OVERVIEW 13
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Q3 2025 segment overview: Canada WSP has been selected as the Primary Lead Designer for the 9.2-kilometre Eglinton Crosstown West Extension Stations, Rail and Systems contract. The extension is part of Toronto’s expanding sustainable, low-emission transit network which should reduce commuting times. The contract includes the construction of ground level, elevated and underground stations, as well as tunnel fit out and ventilation, track construction, electrification, communication, signaling and train control systems. 27.8% adjusted EBITDA margin by segment 4.4% organic growth in net revenues Net Revenues Breakdown – Q3 2025 29% 24% 43% 4% Transport & Infrastructure Property & Buildings Earth & Environment Power & Energy 14
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Q3 2025 segment overview: Americas* WSP has integrated its Future Ready® thinking throughout its work for the Black Academy of Arts & Letters in Dallas, Texas. This work renovates and expands the original 1950s building into a modern, 2,000+ seat theatre with offices, classrooms, and flexible program space. 22.3% adjusted EBITDA margin by segment 4.5% organic growth in net revenues Net Revenues Breakdown – Q3 2025 35% 14%27% 24% Transport & Infrastructure Property & Buildings Earth & Environment Power & Energy 15* Americas (USA and Latin America)
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Q3 2025 segment overview: EMEIA* WSP is providing multidisciplinary engineering services for the construction of a new multi-speciality hospital at the heart of a 9.5-hectare health village in France due for completion at the end of 2029. The facility, inspired by traditional Provençal architecture, will provide a range of medical, surgical and obstetric care to meet the needs of communities in the region, including outpatient care. Natural light and green spaces are key to the design – enhancing the comfort and well-being of patients and staff while helping to optimize operational efficiency. 15.6% adjusted EBITDA margin by segment 6.4% organic growth in net revenues Net Revenues Breakdown – Q3 2025 40% 34% 18% 8% Transport & Infrastructure Property & Buildings Earth & Environment Power & Energy 16* EMEIA (Europe, Middle East, India and Africa)
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Q3 2025 segment overview: APAC* WSP is reshaping South East Queensland’s water cycle through Next Generation Partnerships program in Australia. The program will help Urban Utilities revolutionize how they collaborate with suppliers and industry, driving the delivery of their Capital Investment Program. It’s all about building a climate-resilient water network and delivering environmentally safe and cost-efficient services to Queensland communities. 23.0% adjusted EBITDA margin by segment (3.9)% organic contraction in net revenues Net Revenues Breakdown – Q3 2025 40% 21% 36% 3% Transport & Infrastructure Property & Buildings Earth & Environment Power & Energy 17* APAC (Asia Pacific, comprising Australia, New Zealand and Asia)
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THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU
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wsp.com All logos and marks depicted herein are the property of WSP Global Inc. and may not be reproduced without the prior written consent of WSP Global Inc. All Rights Reserved. Quentin Weber quentin.weber@wsp.com Global Head, Investor Relations quentin.weber@wsp.com Contact us