STN:CC - Stantec to renew normal course issuer bid

• Stantec ( NYSE: STN ) has received TSX approval to renew its normal course issuer bid to purchase for cancellation up to 5,538,309 common shares.
• That represents ~5% of Stantec's ( STN ) 110,766,187 issued and outstanding common shares as of Nov. 2, 2022. The purchases may commence on Nov. 16, 2022 and will terminate no later than Nov. 15, 2023.
• Except for block purchases permitted under the rules and policies of the TSX, the number of shares to be purchased per day will not exceed 55,818 or ~25% of the average daily trading volume for the six full calendar months ending Oct. 31, 2022, which is 223,273 shares.
• The renewal follows on the conclusion of the firm's previous NCIB that expires Nov. 15, 2022. From Nov. 16, 2021 to Nov. 11, 2022, Stantec ( STN ) purchased 1,085,676 common shares at a weighted average price of $60.16/share.

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