Atkinsrealis Group Inc. · TSX:ATRL
Atkinsrealis — Investor Presentation (November 2025)
39 slides from Atkinsrealis's investor presentation, November 2025
Slide 1: A World-Class Engineering Services and Nuclear Company
A World-Class Engineering Services and Nuclear Company Investors Presentation November 2025
Slide 2: Forward-Looking Statements, Forward-Looking Financial Information and Outlook
Forward-Looking Statements, Forward-Looking Financial Information and Outlook References in this presentation to the “Company”, “AtkinsRéalis”, “we”, “us” and “our” mean, as the context may require, AtkinsRéalis Group Inc. or all or some of its subsidiaries or joint arrangements or associates. State
Slide 3: Non-IFRS Financial Measures and Ratios, Supplementary Financial Measures
Non-IFRS Financial Measures and Ratios, Supplementary Financial Measures, Total of Segments Measures and Non-Financial Information The Company reports its financial results in accordance with IFRS® Accounting Standards (“IFRS”). However, the following non-IFRS financial measures and ratios, suppleme
Slide 4: AtkinsRéalis (TSX: ATRL)
Revenue AtkinsRéalis (TSX: ATRL) (for trailing twelve-month period ended September 30, 2025) 68% Engineering Services Regions4 25% UKI Montréal, Canada 1911 ~$15.4B 18% USLA Headquarters Year founded Market Cap2 $11B 13% Canada By Segment 12% AMEA Top 225 ~40,000 › International #4 #1 #5 20% Nuclear
Slide 5: A World-Class Engineering Services and Nuclear Company
A World-Class Engineering Services and Nuclear Company Four Engineering Services Regions Nuclear Canada USLA UKI AMEA Providing end-to-end capabilities to lead projects at every stage: Consulting, strategy Engineering Project & program Project Operations & Capital Decommissioning & advisory & design
Slide 6: Operating in Four Regions Across the World
Operating in Four Regions Across the World We create sustainable solutions that connect people, data and technology to design, deliver and operate the most complex projects around the world AtkinsRéalis Regions AtkinsRéalis Europe ~14,000 Global Technology Centre (GTC) Asia Americas Pacific # of Atk
Slide 7: Driven by Our Purpose, Vision and Values
Driven by Our Purpose, Vision and Values PURPOSE Engineering a better future for our planet and its people VISION We create sustainable solutions that connect people, data and technology to design, deliver and operate the most complex projects VALUES Safety | Integrity | Collaboration | Innovation |
Slide 8: Authentic and Collaborative Culture
Authentic and Industry-Leading Culture of Excellence Focus on Safety Engagement Collaborative Culture Attract and retain top talent Difference is a business Committed to safety of ▪ 92% of employees are proud to asset all employees work with us and 92% would ▪ Different views, experiences and ▪ 87%
Slide 9: Highly Knowledgeable Executive Team with Deep Industry Experiences
Highly Knowledgeable Executive Team with Deep Industry Experiences Ian L. Edwards Jeff Bell Chris Ball Andrée-Claude James Cullens Kate Kenny President and Chief Financial Officer President, UK and Ireland Bérubé Chief Human Chief Growth Officer Chief Executive Officer General Counsel Resources Offi
Slide 10: Strategy: Delivering Excellence, Driving Growth
2025-2027 Strategy “Delivering Excellence, Driving Growth” 10
Slide 11: Delivering Excellence, Driving Growth Strategy Pillars
Delivering Excellence, Driving Growth Strategy Pillars OPTIMIZE ACCELERATE EXPLORE OUR BUSINESS VALUE CREATION UNTAPPED POTENTIAL Drive industry-leading Expand investment in Identify next phase of performance rapidly growing markets major value-creation opportunities ▪ Leverage COO office for ▪ Exec
Slide 12: Distinctly Advantaged to Capture Growth from Key Secular Trends
Distinctly Advantaged to Capture Growth from Key Secular Trends Meeting Global Demand Decarbonizing Built Building Resiliency to Delivering New and for low carbon Energy Environment Climate Change Repairing Aging Infrastructure The AtkinsRéalis Advantage ▪ Decades of pioneering ▪ Industry-leading ca
Slide 13: Path to Achieving 200-300 bps Margin Expansion
Path to Achieving 200-300 bps Margin Expansion Engineering Services Regions Segment Adjusted EBITDA to Segment Net Revenue Ratio1 ▪ Refining pricing strategies optimizes 17% – 18% returns and expanding service mix drives growth in higher-margin, lower-risk 2025E Outlook: consultancy and advisory ser
Slide 14: 2025-2027 Financial Targets
2025-2027 Financial Targets Engineering Services Regions1 >8% 17% – 18% Organic Revenue Growth3 Segment Adj. EBITDA to CAGR Segment Net Revenue Actual Organic Revenue Ratio3 by 2027 Growth2 2024 vs 2023: Actual 2024: 8.4% 15.9% Nuclear $2.2B – $2.5B* 12% – 14% Previous target: $1.8B - $2.0B* Segment
Slide 15: Capital Allocation Framework
Capital Allocation Framework Maintain strong Invest in the business Return capital to balance sheet Accelerate strategy shareholders Improve net debt leverage ratio through organic and Opportunistic share buybacks to achieve investment grade inorganic investments ▪ Enable continued financial ▪ Drive
Slide 16: Engineering a Better Future for our Planet and its People
Engineering a Better Future for our Planet and its People 16
Slide 17: Focused Approach to Engineering Sustainable Solutions to Help Customers Achieve their Long-Term Goals
Focused Approach to Engineering Sustainable Solutions to Help Customers Achieve their Long-Term Goals Delivering in Our Global Challenges AtkinsRéalis’ Advantage End Markets Meeting global demand Expertise in nuclear new build and life extensions, hydroelectric power, Power & for lower carbon energy
Slide 18: Leading Sustainability and Integrity Programs
Leading Sustainability and Integrity Programs Embedding Integrity Robust Enterprise Risk › Recognitions Our Advantages into Operations Management Prestigious Compliance ▪ World-class integrity program ▪ Mandatory annual Training and Reports by Sustainalytics Leader Verification from ▪ Global third-p
Slide 19: Using our Foundation to Generate Long-term Profitability
Using our Foundation to Generate Long-term Profitability 19
Slide 20: Engineering Services Regions
Revenue5,6 Engineering Services Regions (for twelve-month period ended September 30, 2025) Note: Certain totals and subtotals may not reconcile due to rounding A diversified, growing and resilient business underpinned by our talent and people COMPETITIVE ADVANTAGES $7.2B By Region By Customer ▪ Serv
Slide 21: Engineering Services Regions
Engineering Services Regions Well-diversified across regions and end markets CANADA UNITED KINGDOM UNITED STATES & ASIA, MIDDLE EAST, & IRELAND (UKI) LATIN AMERICA (USLA) & AUSTRALIA (AMEA) TTM1 Revenue: $1.4B TTM1 Revenue: $2.7B TTM1 Revenue: $1.9B TTM1 Revenue: $1.3B Backlog2 : $7.8B Backlog2 : $1
Slide 22: Nuclear
Local Expertise on a Global Scale Nuclear Canada ▪ Support customers across Nuclear lifecycle with full spectrum of services: consultancy, Engineering, Procurement and Construction Management (EPCM) services, field services, technology services, tooling, spare parts, 23 Romania South 2 China 4 Korea
Slide 23: CANDU Services
Nuclear Expertise supports evolution towards low carbon, affordable and secure energy Exclusive rights of proprietary 8 unique technologies across Large CANDU® technologies Reactors, Small Modular Reactors Developing 1 GW CANDU® (SMRs), Fusion Reactors and MONARK Submarine Propulsion Reactors Life W
Slide 24: Nuclear: CANDU and CANDU MONARK
Nuclear: CANDU® and CANDU® MONARKTM Exclusive rights to Leading Global Technologies for Large Reactors CANDU® CANDU® MONARK ▪ Record-setting performance – ability to operate ▪ CANDU® is one of six OEM1 technologies in operation for years without maintenance outages today ▪ Medical isotope production
Slide 25: CANDU Delivers Revenue Today and into the Future
CANDU® Delivers Revenue Today and into the Future Strong Present Total $0.9B $1.9B $3.2B $5.4B Nuclear Dec. 31 Dec. 31 Dec.31 Sept. 30 Bright Future Backlog 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Darlington 1 to 4 Life Extension Bruce 3 to 8 Projects Canada Pickering 5 to 8 Phas
Slide 26: Linxon
Linxon ▪ Offers, through our 51% / 49% AtkinsRéalis / Hitachi JV, engineering, procurement, management and construction services for execution of high voltage alternative current power substations including expansions, notably through repetitive EPC offerings in the following markets: Transmission U
Slide 27: Capital
Capital ▪ Capital is AtkinsRéalis’ investment, financing and asset management arm, responsible for developing projects, arranging financing, investing equity, undertaking complex financial modeling and managing its infrastructure investments for optimal returns Robust and diversified portfolio of co
Slide 28: LSTK Projects: Delivering on Exit Strategy
LSTK Projects: Delivering on Exit Strategy Significantly de-risked business through wind down of LSTK Projects ▪ Backlog decreased to $116M as at September 30, 2025, from $1.2B at end of 2021 ▪ Ontario Eglinton project is largely physically completed ▪ REM project continues to progress well. The Deu
Slide 29: Financial Information
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Slide 30: Historical Financial Overview
Historical Financial Overview AtkinsRéalis Services1 Capital LSTK Projects Revenue ($M) Segment Adj. EBIT ($M) 9,668 845 8,634 489 766 7,371 7,549 125 413 7,008 872 673 712 540 581 7,989 9,293 5,975 6,330 6,641 117 119 107 93 113 -59 -134 -303 -261 -531 2020 2021 2022 2023 2024 2020 2021 2022 2023 2
Slide 31: Operating Cash Flow Generation Trajectory
Operating Cash Flow Generation Trajectory Operating Cash Flow ($M) Operating Cash Flow to Free Cash Flow Net cash generated from operating activities excluding LSTK Projects2 Net cash used for operating activities from LSTK Projects2 ▪ Past negative operating cash flow Note: 2025 – 2027 data is illu
Slide 32: Strengthened Balance Sheet Resulting in Strong Foundation for Growth
Strengthened Balance Sheet Resulting in Strong Foundation for Growth Net Limited Recourse & Recourse Debt to Adjusted EBITDA Ratio2 As at September 30, 2025: • Cash and cash equivalents $991M 2.9x 2025-2027 Target 1.8x 1.7x 1.9x • Total recourse debt $696M1 1.4x 1.0 – 2.0x 1.1x 1.1x (0.3)x (0.3)x •
Slide 33: Revised Outlook 2025
Revised Outlook 2025 Growth Pillars Other Metrics Corporate Selling, General and Amortization of Intangible Low-Single 16% – 17% Administrative Expenses Assets Related to Business Combinations Digit % Segment $120M – $130M Engineering Previous: Mid-Single Digit % Adjusted EBITDA to Segment Net Reven
Slide 34: Key Takeaways
Key Takeaways 34
Slide 35: Why Invest in AtkinsRéalis
Why Invest in AtkinsRéalis World-class 2025-2027 Highly connected Engineering Free cash flow Engineering “Delivering global organization Services and acceleration to Services and Excellence, Driving reinforced by Nuclear technology invest for growth Nuclear company Growth” strategy culture and end-t
Slide 36: Capital Market Profile and Analysts' Coverage
Capital Market Profile and Analysts’ Coverage Denis Jasmin CPA, F.CIRI Tel.: 514-393-8000 Ext. 57553 Vice-President, E-mail: [email protected] Investor Relations www.atkinsrealis.com Or book an Introduction Call here Firm Analyst Rec. Tel. ATB Capital Markets Chris Murray Buy 647-776-824
Slide 37: Endnotes
Endnotes (See also the cautionary statement regarding non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information at slide 3 of this presentation.) 1. Organic revenue growth (contraction) ratio is a non-IFRS ratio comparing organ
Slide 38: Reconciliation Tables
Reconciliation Tables (in $M except otherwise indicated) (Note: Certain totals and subtotals may not reconcile due to rounding) A. Organic Revenue Growth (Contraction) 2024 Organic revenue Revenue Revenue Foreign exchange Acquisition / Variance growth 2024 2023 impact Disposal impact (contraction) C
Slide 39: Reconciliation Tables
Reconciliation Tables (in $M except otherwise indicated) (Note: Certain totals and subtotals may not reconcile due to rounding) C. Net limited recourse and recourse debt to Adjusted EBITDA ratio in $M, except ratio September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024
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