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Q4 AND FISCAL 2025 FINANCIAL RESULTS FEBRUARY 25, 2026
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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 2026 financial outlook, including its underlying assumptions; our strategic ambitions; our future growth and potential; our profitability; our proposed strategy and our operating performance and our aim to grow our key markets. 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 release issued on February 25, 2026, as well as under section 19, “Forward-Looking Statements” of WSP's management's discussion & analysis ("MD&A") for the fourth quarter and year ended December 31, 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, 2025, which is available on SEDAR+ at www.sedarplus.ca and which section 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, 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 22, “Glossary of segment reporting, non-IFRS and other financial measures” of the Corporation's MD&A for the fourth quarter and year ended December 31, 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 fourth quarter and year ended December 31, 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 Q4 AND FISCAL 2025 HIGHLIGHTS
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$4.85B (+4.1% vs Q4 2024) Revenues $3.67B (+8.2% vs Q4 2024) Net Revenues(1) 3.3% Organic growth in Net Revenues(2) $694.1M (+9.4% vs Q4 2024) Adjusted EBITDA(3) 18.9% (20bps increase vs Q4 2024) Adjusted EBITDA margin(3) $397.0M (+14.9% vs Q4 2024) Earnings before net financing expense and income taxes ("EBIT") $346.7M (+13.6% vs Q4 2024) Adjusted net earnings(3) $256.3M (+53.6% vs Q4 2024) Net earnings attributable to shareholders $826.7M (+28.7% vs Q4 2024) Free cash flow(3) $984.0M (+27.2% vs Q4 2024) Cash inflows from operating activities 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 fourth quarter and year ended December 31, 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 22, “Glossary of segment reporting, non-IFRS and other financial measures”, of WSP’s MD&A for the fourth quarter and year ended December 31, 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. Q4 2025 HIGHLIGHTS
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Net revenue organic growth (contraction) (1) As reported Net revenue organic growth (contraction) As adjusted* Canada* 4.2 % 6.8 % • *Adjusted to exclude the impact of revisions to estimated contract revenues on significant projects in the fourth quarter of 2024 in Canada. Americas* 1.1 % 6.1 % • *Adjusted to exclude the impact of the lower demand for emergency response services in the U.S. in Q4 2025 when compared to the high demand in Q4 2024. EMEIA 9.1 % 9.1 % • The UK delivered double-digit organic growth in the quarter. • Continued healthy backlog growth in the Nordics. 4.2% 7.2% APAC (2.9) % (2.9) % • New Zealand has returned to organic growth in the second half of 2025 with double-digit in the quarter. • Continued increased order intake in Australia and New Zealand in the quarter. 3.3% 5.9% 5 1. Supplementary financial measure. Net revenue organic growth (contraction) 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. Q4 2025 HEALTHY PERFORMANCE DESPITE UNCERTAINTY CONSOLIDATED 2.6% 5.0% CONSOLIDATED — —
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$18.29B (+13.1% vs 2024) Revenues $13.96B (+14.7% vs 2024) Net Revenues(1) 3.5% Organic growth in Net Revenues(2) $2.56B (+17.2% vs 2024) Adjusted EBITDA(3) 18.3% (39bps increase vs 2024) Adjusted EBITDA margin(3) $1.53B (+20.8% vs 2024) Earnings before net financing expense and income taxes ("EBIT") $1.25B (+23.3% vs 2024) Adjusted net earnings(3) $964.3M (+41.5% vs 2024) Net earnings attributable to shareholders $17.1B Backlog reached a new record level, representing 11.0 months of revenues(4), up 9.9% in the year. $1.71B (+93.8% vs 2024) Free cash flow(3) $2.25B (+62.5% vs 2024) Cash inflows from operating activities 6 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 fourth quarter and year ended December 31, 2025, which is available on SEDAR+ atwww.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 22, “Glossary of segment reporting, non-IFRS and other financial measures”, of WSP’s MD&A for the fourth quarter and year ended December 31, 2025 available on SEDAR+ atwww.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 year ended December 31, 2025, incorporating a full twelve months of revenues for all acquisitions. FISCAL 2025 HIGHLIGHTS
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H1 (as reported) Q3 (as adjusted) (1) Q4 (as adjusted) (1) Consolidated 2025 3.6% 4.8% 5.9% Canada, Americas & EMEIA 5.5% 6.4% 7.2% APAC (7.2%) (3.9%) (2.9%) ACCELERATED ORGANIC GROWTH MOMENTUM THROUGH 2025 (1) Exclude the impact of revisions to estimate contract revenues on a significant project in Canada in the third and fourth quarters of 2024 and the impact of the lower demand for emergency response services in the U.S. in 2025 when compared to 2024. 7
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Four core end-markets supported by secular trends EARTH & ENVIRONMENT WSP is supporting the Port Hope area initiative, one of Canada’s largest environmental remediation programs. WSP provides technical expertise to safely manage low-level radioactive waste and aims to deliver long-term environmental improvements for the region. POWER & ENERGY The UK government has appointed WSP as technical advisor to help shape its national hydrogen strategy, helping the country’s ability to plan and deliver future low-carbon energy infrastructure. TRANSPORT & INFRASTRUCTURE WSP is providing multidisciplinary services to reconfigure the currently non-operational waterfront complex originally developed for cruise and layberth operations at Port of Houston’s Bayport Container Terminal. PROPERTY & BUILDINGS Finland has opened the new Kirjalansalmi bridge, now the country’s largest long-span crossing. WSP supported the project with engineering and design expertise, delivering a resilient, modern structure that aims to enhance regional connectivity. 8
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Revenues +4% +8% +13% +15% Numbers are quoted in millions of dollars (except percentages) Net revenues Q4 2024 Q4 2025 Fiscal 2024 Fiscal 2025 Q4 2024 Q4 2025 Fiscal 2024 Fiscal 2025 $4,854.1$4,664.9 $18,285.0 $16,166.8 $3,672.7$3,394.0 $13,959.1 $12,172.2 9
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+21% +9%+15% +17% Numbers are quoted in millions of dollars (except percentages) 18.9%18.7% 18.3% 18.0% EBIT Adjusted EBITDA ($) and adjusted EBITDA margin (%) Q4 2024 Q4 2025 Fiscal 2024 Fiscal 2025 Q4 2024 Q4 2025 Fiscal 2024 Fiscal 2025 $397.0$345.4 $1,532.6 $1,268.6 $694.1$634.3 $2,561.2 $2,185.7 10
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$1.96 per share +54% +14% +42% +23% 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 22, “Glossary of segment reporting, non-IFRS and other financial measures”, of WSP’s MD&A for the fourth quarter and year ended December 31, 2025, which is available on SEDAR+ at https://www.sedarplus.ca/, for explanations of the composition and usefulness of this non-IFRS ratio. $2.65 per share$2.34 per share $9.58 per share $8.05 per share Net earnings attributable to shareholders Adjusted net earnings and adjusted net earnings per share(1) Q4 2024 Q4 2025 Fiscal 2024 Fiscal 2025 Q4 2024 Q4 2025 Fiscal 2024 Fiscal 2025 $346.7 $305.3 $1,251.2 $1,014.9 $964.3 $681.4 $256.3 $166.9 11 $5.40 per share $7.38 per share $1.28 per share
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72 70 69 71 63 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 1) DSO is a supplementary financial measure. DSO represents the average number of days to convert WSP's trade receivables (net of sales taxes) and costs and anticipated profits in excess of billings, net of billings in excess of costs and anticipated profits, into cash. Days sales outstanding (DSO)(1) 12 2025 Target Range 67 - 73
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THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU 13
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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