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November 8, 2016
Q3 2016 results
Q3 2016 PERFORMANCE2
All regions, with the exception of Canada, delivered organic growth
Adjusted EBITDA margin of 12.4% compared to 11.2% last year
Bruno Roy appointed CFORobert Ouellette appointed Chief Corporate Services Officer David Langlois promoted to Chief Accounting and Treasury Officer
Shortly after Q3, acquisition of Mouchel, a leading UK pure play infrastructure firm
REVENUES AND NET REVENUES3
Revenues Net Revenues
1,503.01,552.5
Q3 2015 Q3 2016
+3.3%1,124.9
1,189.8
Q3 2015 Q3 2016
+5.8%
In millions $
ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN4
126.2
147.2
Q3 2015 Q3 2016
+16.6%
12.4%11.2%
In millions $
ADJUSTED NET EARNINGS* AND ADJUSTED NET EARNINGS PER SHARE*
5
AdjustedNet Earnings*
AdjustedNet Earningsper share*
74.077.2
Q3 2015 Q3 2016
0.81 0.77
Q3 2015 Q3 2016
In millions $, except per share data*excluding amortization of intangible assets relating to acquisitions
BACKLOG6
Q3 2016 COMPARED TO Q3 2015
(in millions of dollars, except percentages) Total
Hard Backlog Q3 2016 $5,371.2
Hard Backlog end of Q3 2015 $4,891.6
Net change ($) $479.6
Organic Growth (0.5%)
Acquisition Growth 8.3%
Foreign Currency Impact 2.1%
Net change % Q3 2016 vs. Q3 2015 9.8%
4,891.6
5,199.75,529.7 5,667.4
5,371.2
Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
10.3 monthsof revenues
In millions $
STABLE DSO AS COMPARED TO LAST YEAR7
87
76 77
82
87
Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
FINANCIAL POSITION AND NET DEBT/TTM ADJUSTED EBITDA RATIO
8
(in millions of dollars) Q3 2016Financial liabilities $1,081.9
Less: Cash and cash equivalents
($177.7)
Net debt $904.2
TTM Adjusted EBITDA $487.7
Net debt / TTM Adjusted EBITDA 1.9x
Net debt /TTM Adjusted EBITDA, incorporatingfull 12-month Adjusted EBITDA for all acquisitions
1.8x
In millions $, except ratio
*On a constant currency basis
Canada20%
Americas32%
EMEIA33%
APAC15%
REGIONAL PERFORMANCE
REGIONAL BREAKDOWN (% TOTAL NET REVENUES)
REGION
Q3 2016NET REVENUES ORGANIC GROWTH*
Q3 2016 ADJUSTED EBITDA MARGINS (before Global Corporate costs)
Americas 8.5% 17.6%
EMEIA 2.3% 11.4%
APAC 2.1% 11.3%
Canada (11.3%) 11.1%
TOTAL 1.7% 13.3%
9
2016 OUTLOOK
* Non-IFRS measures are described in the “Glossary” section.1) The first quarter of 2016 has 2 less billable days than the first quarter of 2015.2) Due mainly to the MMM acquisition completed in Q4 2015 and anticipated additional real estate related integration costs pertaining to the transformational
Parsons Brinckerhoff acquisition in Q4 2014
10
ORIGINAL 2016 TARGET RANGE NARROWED 2016 TARGET RANGE
Net revenues* Between $4,600 million and $5,100 million
Between $4,700 million and $4,900 million
Adjusted EBITDA* range Between $465 million and $515 million
Between $485 million and $500 million
Seasonality and adjusted EBITDA* fluctuations
Q1: 16% to 18%1 )
Q2: 24% to 26%Q3: 31% to 33%Q4: 28% to 30%
Tax rate 26% to 28%DSO* 80 to 85 days
Amortization of intangible assets related to acquisitions $75 to $80 million
Capital expenditures $115 to $125 million
Net debt to adjusted EBITDA* 1.5x to 2.0x
Acquisition and integration costs* Between $15 million and $25 million 2)
M&A UPDATE11
Year-to-date acquisitions 6 acquisitions 2,300 employees Financed using our balance sheet
Most recent acquisition, Mouchel, a leading UK pure play infrastructure firm Strengthens our presence in the UK public
infrastructure sector Strategically positions WSP to benefit from
upcoming opportunities in the UK public sector
Complements WSP's world-class transportation expertise in roads, highways and rail services.
Well-aligned with WSP's corporate culture, philosophy and strategy
QUESTIONS AND ANSWERS
12