OUR APPROACH TO MANAGING CLIMATE-RELATED RISKS AND OPPORTUNITIES

Gouvernance

Strategy

•Our sustainability performance is reviewed quarterly by the ESG Advisory Committee, the Executive Committee

and the Board of Directors.

•Our ESG Advisory Committee, made up of senior executives from our three business units and representatives

of key functions, reports to the Executive Committee and is responsible for assessing sustainability-

related risks and opportunities, including those related to climate change, approving strategic objectives

and initiatives, and making recommendations to guide and support actions to be deployed, while ensuring

alignment with the company's strategic plan.

•Our Executive Committee approves the main strategic directions.

•and targets related to our sustainability priorities, including our climate-related objectives.

•Our Audit and Risk Committee of the Board of Directors is mandated to assess and ensure that the risks and

opportunities related to our sustainability strategy, including entreprise risks related to climate change, are

taken into account by the company's management.

Key facts

•60% of Board members have environmental, social and governance expertise.

•Senior management discussed environmental and climate-related risks, opportunities and initiatives on

36 occasions in 2024.

•In 2024, a climate scenario analysis exercise was launched. Two scenarios were selected to guide the analysis: a low-emissions

scenario in which global warming is limited to 1.5°C in 2100 and a high-emissions scenario in which global warming exceeds

4°C in 2100. The f irst phase of this exercise allowed us to assess the evolution of four physical risks and six transition risks and

opportunities specif ic to our business sector under each scenario.

•The second phase of this exercise will evaluate their potential effects on our operations, our workers and our supply chain, as

well as on our business strategy, in order to identify, develop and implement mitigation and adaptation measures specif ic to our

activities.

•To strengthen our resilience over the short, medium and long term, we are active in markets that contribute to the decarbonization

of buildings and infrastructure that contribute to Canada's energy transition.

Highlights

•70% of our total revenue is generated by our sustainable projects.

Risk management Metrics and Targets

•As part of the climate scenario analysis exercise, we have identif ied and validated with over 20 members of our

key teams the risks and opportunities most relevant to our sector and our 2025-2030 strategic planning.

•A standardized risk management process is being developed for projects, with a pilot phase underway with

certain major projects. This process, aligned with the ISO 31000 standard , is based on a matrix that identif ies

and assesses various risks, taking into account the specif ic context of the project and its objectives. Each

risk is assessed according to two axes, i.e. probability of occurrence and potential impact, then an overall

score is generated, facilitating prioritization and decision-making for the implementation of mitigation and

adaptation measures.

•We are currently assessing how best to integrate climate-related risks and opportunities, as well as

site-specif ic mitigation and adaptation measures, into our standardized risk management process.

As part of our commitment to the energy transition, we have adopted concrete targets and indicators to guide our actions

and track our progress towards more sustainable and resilient growth. Indicators to assess climate-related risks and

opportunities could be defined as we develop our risk management process.

Targets:

•Achieve net zero emissions, Scope 1, 2 and 3 emissions, by 2050.

•Reduce our Scope 1 and 2 emissions by 40% by 2030, compared with 2021.

•Achieve 80% of our revenue through sustainable projects.

Indicators:

•Scope 1, 2 and 3 GHG emissions (tCO

2

e).

•Change in Scope 1 and 2 GHG emissions vs. base year.

•Scope 1 and 2 GHG emissions intensity (tCO

2

e per million dollars).

•Percentage of revenue generated by sustainable projects.

Who We Are | Action Plan | Health and Safety | Equity, Diversity and Inclusion | Climate Change | Circular Economy | Indigenous Relations | Community Relations | Governance | Appendix