Architecture Engineering & Environmental Services

SECTORWATCH: Architecture Engineering & Environmental Services March 2018 SECTORWATCH:

Architecture Engineering & 7 Mile Advisors appreciates the opportunity to present this confidential information to the Company. This document is meant to be delivered only in conjunction with a verbal presentation, and is not authorized for distribution. Please see the Confidentiality Notice & Disclaimer at the end of the document. All data cited in this document was believed to be accurate at the time of authorship and came from publicly available sources. Neither 7 Mile Advisors nor 7M Securities make warranties or Environmental Services representations as to the accuracy or completeness of third-party data contained herein. This document should be treated as confidential and for the use of the intended recipient only. Please March 2018 notify 7 Mile Advisors if it was distributed in error.

. Sector Dashboard

. Public Basket Performance

. Operational Metrics

. Valuation Comparison

. Recent Deals

. Appendix OVERVIEW

Dashboard

summary metrics on the sector, with commentary on About Us market momentum by comparing the most recent 12- 7MA provides Investment Banking & Advisory Services to the month performance against the last 3-year averages Business Services and Technology Industries globally.

We advise on M&A and private capital transactions, and provide market assessments and benchmarking. As a close knit team with a long history together and a laser focus on our target markets, we Public Basket Performance help our clients sell their companies, raise capital, grow through acquisitions, and evaluate new markets. summary valuation and operating metrics for a basket of comparable public companies

Sectorwatch We publish sectorwatch, a review of M&A and operational trends in the industries we focus. Valuation Comparison

a more graphical, detailed comparison of valuation multiples for the public basket Let us know if we can help Contact us if there are ways we can assist your M&A or financing strategy.

Recent Deals the most recently announced sector deals

Revenue Growth Momentum Median TEV / LTM Revenue 19.4% 1 - year revenue growth compared to revenue growth -4.5% average for last 3 years

Current revenue growth rate is less than the average of the last 3 years, Median LTM GP Margin % indicating that the market may be flattening or declining 8.1%

Pricing / Gross Margin Momentum Median LTM EBITDA Margin % 8.0% 1 - year gross profit % compared to gross profit % 1.12% average for last 3 years Current gross profit margin exceeds the average of the last 3 years gross profit 0% 5% 10% 15% 20% margin by this amount, indicating supplier pricing power

Profitability Momentum Valuation 1 - year EBITDA % compared to EBITDA % average for 0.9% last 3 years Median Price / LTM Earnings 23.2x Current EBITDA margin exceeds the average of the last 3 years EBITDA margin by this amount, a condition that may attract new entrants Median TEV / LTM EBIT 17.7x PUBLIC BASKET CONSTITUENTS

NasdaqGM:WLDN NasdaqGS:TTEK NYSE:JEC Median TEV / LTM EBITDA NasdaqCM:NVEE TSX:STN TSX:SNC 13.0x LSE:RPS TSX:WSP NYSE:ACM ENXTAM:ARCAD Median TEV / LTM Revenue 1.0x

Rev LTM Rev Growth TEV / Rev TEV / Rev / FTE Company TEV $m $m YoY GP % EBITDA % X EBITDA X # FTEs $k

Willdan Group, Inc. 220 273 31% 28% 7% 0.8 12.2 631 433

NV5 Global, Inc. 654 333 49% 50% 12% 2.0 16.5 - NA

RPS Group plc 885 852 6% 26% 10% 1.0 10.0 5,340 160

ARCADIS NV 2,454 3,865 -3% 18% 6% 0.6 10.3 26,162 148

Tetra Tech, Inc. 3,151 2,089 5% 18% 11% 1.5 13.8 16,000 131

Stantec Inc. 3,311 2,725 10% 53% 10% 1.3 12.2 22,000 124

WSP Global Inc. 5,543 5,430 9% 18% 8% 1.1 13.9 36,000 151

AECOM 9,103 18,756 7% 4% 4% 0.5 9.7 87,000 216

SNC-Lavalin Group Inc. 9,441 7,443 10% 20% 9% 1.3 15.0 52,448 142

Jacobs Engineering Group Inc. 10,095 10,221 -4% 18% 6% 1.0 15.2 44,800 228

Average 4,486 5,199 12% 25% 8% 1.1 12.9 29,038 192

Median 3,231 3,295 8% 19% 8% 1.0 13.0 24,081 151 share price as of 15Mar18

PUBLIC BASKET VALUATION TRENDS 14x

12x

10x 14x 8x

6x 12x 4x

2x 10x 0x

10.7x

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Sep-13 Sep-14 Sep-15 Sep-16 Sep-17

Dec-13 Dec-14 Dec-15 Dec-16 Dec-17

Mar-15 Mar-16 Mar-17 Mar-18 8x Mar-14 TEV/EBITDA - Median TEV/EBITDA - Average

6x Public Revenue Multiples Over Time 1.2x 4x 1.0x

0.8x 2x 0.9x 0.6x

0.4x 0x

0.2x

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Sep-13 Sep-14 Sep-15 Sep-16 Sep-17

Dec-14 Dec-13 Dec-15 Dec-16 Dec-17

Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 0.0x TEV/EBITDA - Median TEV/Revenue - Median

TEV/EBITDA - Average TEV/Revenue - Average

Jun-15 Jun-13 Jun-14 Jun-16 Jun-17

Sep-17 Sep-13 Sep-14 Sep-15 Sep-16

Dec-13 Dec-14 Dec-15 Dec-16 Dec-17

Mar-14 Mar-15 Mar-16 Mar-17 Mar-18

LTM REVENUE GROWTH % LTM GROSS PROFIT MARGIN % LTM EBITDA %

NV5 Global, Inc. 48.7% Stantec Inc. 53.5% NV5 Global, Inc. 11.9%

Willdan Group, Inc. 30.8% NV5 Global, Inc. 49.6% Tetra Tech, Inc. 10.9%

Stantec Inc. 10.3% Willdan Group, Inc. 28.1% Stantec Inc. 10.2%

SNC-Lavalin Group Inc. 10.2% RPS Group plc 25.6% RPS Group plc 10.1%

WSP Global Inc. 8.7% SNC-Lavalin Group Inc. 20.3% SNC-Lavalin Group Inc. 8.7%

AECOM 7.4% WSP Global Inc. 18.5% WSP Global Inc. 7.6% Jacobs Engineering Group RPS Group plc Willdan Group, Inc. 6.6% 6.1% Inc. 18.1% Jacobs Engineering Group Tetra Tech, Inc. 4.6% ARCADIS NV 17.7% Inc. 6.5% ARCADIS NV (3.3%) Tetra Tech, Inc. 17.5% ARCADIS NV 6.3% Jacobs Engineering Group AECOM AECOM 4.2% Inc. (4.2%) 3.6% Median 8.0% Median 19.4% Median 8.1%

(30%) - 30% 60% - 20% 40% 60% 80% - 5% 10% 15% 20%

LTM Rev. per FTE x 000's Accounts receivable turnover Avg days sales outstanding

Willdan Group, Inc. $433 RPS Group plc 5.41 Tetra Tech, Inc. 139.11

Jacobs Engineering Group Willdan Group, Inc. 4.86 Stantec Inc. 128.85 Inc. $228 WSP Global Inc. 4.71 ARCADIS NV AECOM $216 125.05 AECOM 3.81 SNC-Lavalin Group Inc. 110.24 RPS Group plc $160 Jacobs Engineering Group Inc. 3.80 NV5 Global, Inc. 101.43 WSP Global Inc. $151 Jacobs Engineering Group NV5 Global, Inc. 3.59 Inc. 95.91 ARCADIS NV $148 SNC-Lavalin Group Inc. 3.31 AECOM 95.86 SNC-Lavalin Group Inc. $142 ARCADIS NV 2.92 WSP Global Inc. 78.79 Tetra Tech, Inc. $131 Stantec Inc. 2.83 Willdan Group, Inc. 74.87

Stantec Inc. $124 Tetra Tech, Inc. 2.62 RPS Group plc 67.52

Median $151 Median 3.69 Median 98.67

$- $200 $400 $600 0 2 4 6 8 - 50 100 150 200

TEV / LTM Revenue TEV / LTM EBITDA Price / LTM Earnings

NV5 Global, Inc. 2.0 NV5 Global, Inc. 16.5 Stantec Inc. 39.0 Jacobs Engineering Group Tetra Tech, Inc. Jacobs Engineering… 1.5 15.2 Inc. 31.1 SNC-Lavalin Group… 1.3 SNC-Lavalin Group… 15.0 WSP Global Inc. 25.7

Stantec Inc. WSP Global Inc. 1.3 13.9 NV5 Global, Inc. 25.0 WSP Global Inc. 1.1 Tetra Tech, Inc. 13.8 SNC-Lavalin Group Inc. 24.0 RPS Group plc 1.0 Willdan Group, Inc. 12.2 ARCADIS NV 22.4 Jacobs… 1.0 Stantec Inc. 12.2 Tetra Tech, Inc. 21.6 Willdan Group, Inc. 0.8 ARCADIS NV 10.3 Willdan Group, Inc. 19.8 ARCADIS NV 0.6 RPS Group plc 10.0

AECOM 0.5 AECOM 9.7 AECOM 14.4

Median 1.0 Median 13.0 Median 23.2

0x 1x 2x 3x 0x 5x 10x 15x 20x 25x 0x 10x 20x 30x 40x 50x

Historical Valuation Multiples versus Gross Profit Historical Valuation Multiples versus Revenue Growth Rate

18x 60% 18x 60% 53.5% 16x 49.6% 16x 48.7% 50% 50% 14x 14x 40% 12x 40% 12x 30.8% 10x 10x 30% (4.2%) 30% 10.3% 25.6% 8x 8x 20% 20.3% 10.2% 6x 28.1% 18.5% 20% 6x 7.4% 8.7% 6.1% 10% 17.7% 17.5% 18.1% 4x 3.6% 4x (3.3%) 10% 4.6% 0% 2x 2x

10x 10x 10x 12x 12x 14x 14x 15x 15x 16x 10x 10x 10x 12x 12x 14x 14x 15x 15x 16x

EBITDA(x)

LTM GP% LTM EBITDA(x)

0x 0% 0x -10% RGR% LTM

EBITDA(x) LTM GP% EBITDA(x) LTM RGR%

Date Target Buyer Total Transaction Value Target Revenue TEV / Revenue TEV / EBITDA

23Feb18 Bracken Engineering, Inc. J.S. Held, LLC - - - - 20Feb18 Encompass Energy Services, LLC And Perennial Applied-Cleveland Holdings, Inc. - - - - Environmental Services, LLC 20Feb18 Meeting the Challenge, Inc. CP&Y, Inc. - - - - 14Feb18 Braun & Steidl Architects, Inc. PRIME AE Group, Inc. - - - - 13Feb18 RCG Architects Inc Johnson, Mirmiran & Thompson, Inc. - - - - 7Feb18 CSA (M&E) Limited NV5 Global, Inc. - 5.00 - - 6Feb18 RJC Architects Inc. Steinberg Hart - - - - 6Feb18 Enviroscan, Inc. RETTEW Associates, Inc. - - - - 2Feb18 EYP Mission Critical Facilities, Inc. - - - - - 1Feb18 Axiom Commissioning Group and T-Squared Salas O'Brien Engineers, Inc. - - - - Professional Engineers Inc. 1Feb18 Infrastructure Corporation of America (nka:DBi DBi Services, LLC - - - - Services) 1Feb18 Assets of J4 Engineering Group, LLC Brown and Caldwell, Inc. - - - - 1Feb18 Michael Pisani & Associates, Inc. The ERM Group, Inc. - - - - 1Jan18 Brandow & Johnston Inc. HBK Engineering, LLC - - - - 31Jan18 Occam Engineers Inc. Stantec Inc. - - - - 29Jan18 Walsh Engineering Associates, Inc. Pinkham & Greer Civil Engineers - - - - 25Jan18 Bridgenet International Inc. Tetra Tech, Inc. - - - - 25Jan18 SAMAC Engineering Ltd. Envista, Inc. - - - - 23Jan18 LaFata Contract Services, LLC IMB Development Corporation - - - - 22Jan18 Toxicology Regulatory Services, Inc. Trinity Consultants, Inc. - - - - 19Jan18 Alliance Fire Protection Co. Summit Fire Protection Co., Inc. - - - - 19Jan18 LandWorks, Inc. Pandell Technology Corporation - - - - 19Jan18 Melick-Tully and Associates, P.C. GZA GeoEnvironmental, Inc. - - - - 18Jan18 Washington, DC Branch Of Keast & Hood Company Simpson Gumpertz & Heger Inc. - - - - 17Jan18 NDY Management Pty Limited Tetra Tech, Inc. - 71.72 - - 17Jan18 TRO Jung|Brannen, Inc. SmithGroupJJR LLC - - - - 17Jan18 Zephyr Environmental Corporation POWER Engineers, Incorporated - - - - 17Jan18 Accord Engineering, Inc. EnSafe, Inc. - - - - 16Jan18 Butsko Utility Design, Inc. NV5 Global, Inc. - 5.00 - - 12Jan18 Projen Limited Project Management Holdings Limited - - - - 12Jan18 Project One Integrated Services, LLC Cumming Construction Management, Inc. - - - - 10Jan18 Skipworth Engelhardt Asset Management Strategists ARCADIS NV - - - - Limited 10Jan18 ARA Engineering Ltd. McIntosh Perry Consulting Engineers Ltd. - - - -

Date Target Buyer Total Transaction Value Target Revenue TEV / Revenue TEV / EBITDA

10Jan18 CHC Consulting, LLC CONGRUEX LLC - - - - 10Jan18 The Assembly Design Studio, Inc. Cannon Design, Inc. - - - - 9Jan18 LVA Urban Design Studio, LLC RVi Planning - - - - 9Jan18 FRCH Design Worldwide - Cincinnati, Inc. (nka:FRCH a NELSON & Associates Interior Design and - - - - NELSON Co.) Space Planning, Inc. 9Jan18 BLW Security Group IMEG Corp. - - - - 8Jan18 Perry Crabb & Associates Inc. Mazzetti Inc. - - - - 8Jan18 Varo Engineers, Inc. Salas O'Brien Engineers, Inc. - - - - 6Jan18 Williams Creek Consulting, Inc. V3 Companies, Ltd. - - - - 5Jan18 White Environmental Consultants Inc. ATC Group Services LLC - - - - 5Jan18 Erickson & Meeks Engineering, LLC Civil & Environmental Consultants, Inc. - - - - 5Jan18 C2G International, LLC IBA Holdings, LLC - - - - 4Jan18 ISS Proko Oy WSP Global Inc. - - - - 4Jan18 Engineered Concepts Consulting Services, Inc. Terracon Consultants, Inc. - - - - 4Jan18 McDonough-Whitlow, P.C. Prairie Engineers Of Illinois, P.C. - - - - 3Jan18 Criser Troutman Tanner Consulting Engineers King Engineering Associates, Inc. - - - - 3Jan18 Synergy Development Services, Inc. and Synergy Advantage Engineers LLC - - - - Engineering Services, Inc. 3Jan18 American Environmental Consultants, Inc. TRC Companies, Inc. - - - - 2Jan18 Consulting Engineering & Science, Inc. Graef-USA, Inc. - - - - 2Jan18 StruXture Architects, LLC I & S Group, Inc. - - - - 1Jan18 IDA Consulting Engineers, Inc. Inwood Consulting Engineers, Inc. - - - - 26Dec17 U.S. Power & Industrial Engineering Services Division CriticalPoint Capital, LLC - - - - of Altran Technologies S.A. 26Dec17 Skyscene, LLC NV5 Global, Inc. - - - - 21Dec17 GCR Inc. Hammond, Kennedy, Whitney & Company 124.00 - - - Inc. 19Dec17 NOR-EX Ice Engineering Inc. Associated Engineering Group Ltd. - - - - 18Dec17 Chicago Bridge & Iron Company N.V. McDermott International, Inc. 4,149.23 9,147.54 0.4x NM 15Dec17 River Valley Testing Corp. ECS Corporate Services, LLC - - - - 14Dec17 Legat Kingscott, LLC Legat Architects, Inc. - - - - 12Dec17 QSEM Solutions, Inc. Trinity Consultants, Inc. - - - - 11Dec17 McGoodwin, Williams and Yates, Inc. Olsson Associates, Inc. - - - - 6Dec17 Woolpert, Inc. Long Point Capital - - - - 5Dec17 EMR Group LLC Mead & Hunt, Inc. - - - - 30Nov17 CBI Consulting, Inc. (nka:CBI Consulting LLC) IBA Holdings, LLC - - - -

Appendix: Public Basket Constituents Revenue Multiples - Willdan Group, Inc. PUBLIC BASKET CONSTITUENTS 1.5x 1.2x Willdan Group, Inc. 0.9x 0.6x Willdan Group, Inc., together with its subsidiaries, provides professional 0.3x technical and consulting services to utilities, private industry, and public 0.0x agencies at various levels of government primarily in the Unites States. It operates through four segments: Energy Efficiency Services, Engineering Services, Public Finance Services, and Homeland Security TEV/Revenue Average Services. The Energy Efficiency Services segment offers comprehensive surveys, program design, master planning, benchmarking analysis, design engineering, construction management, EBITDA Multiples - Willdan Group, Inc. performance contracting, installation, alternative financing, and 24 measurement and verification services. The Engineering Services segment provides a range of engineering related services, such as 18 building and safety, city engineering, code enforcement, development 12 plan review and inspection, disaster recovery, environmental consulting and remediation, geotechnical and earthquake engineering, landscape 6 architecture, planning, program and construction management, contract 0 staff support, structural engineering, surveying and mapping, traffic engineering and planning, transportation, and water resources services. The Public Finance Services segment offers district administration, financial consulting, and federal compliance services. The Homeland TEV/EBITDA Average Security Services segment provides emergency preparedness planning, training, and exercises; communications and technology; and water P/E Multiples - Willdan Group, Inc. security services. The company serves public and governmental 40 agencies, including cities, counties, redevelopment agencies, water districts, school districts, and universities; and state agencies and 32 federal agencies, as well as various other special districts and 24 agencies, private utilities and industry, and tribal governments. Willdan 16 Group, Inc. was founded in 1964 and is headquartered in Anaheim, 8 California. 0 Date Key Development Headline 3/8/18 Willdan Group Mulls Acquisitions P/E Average

14 All Rights Reserved to 7 Mile Advisors Revenue Multiples - NV5 Global, Inc. PUBLIC BASKET CONSTITUENTS 3.0x 2.4x NV5 Global, Inc. 1.8x 1.2x NV5 Global, Inc. provides professional and technical engineering, and 0.6x consulting solutions to public and private sector clients in the 0.0x infrastructure, energy, construction, real estate, and environmental markets in the United States and internationally. It operates through two segments, Infrastructure and Buildings, Energy & Science. The TEV/Revenue Average company offers infrastructure, engineering, and support services, including site selection, design, water resources, transportation, structural engineering, land development, surveying, power delivery, EBITDA Multiples - NV5 Global, Inc. building code compliance, and other service areas; and construction 25 quality assurance services, such as construction materials testing and 20 engineering, geotechnical engineering and consulting, and forensic consulting. It also provides civil program management services 15 comprising governmental outsourcing and consulting services; and 10 technical outsourcing services, as well as building program 5 management services. In addition, the company offers energy services, including inspection, and assistance in permitting; and traditional 0 engineering services, such as energy and underground transmission and distribution, substation engineering, and power generation facility design services and surveying. NV5 Global, Inc. was founded in 1949 TEV/EBITDA Average and is headquartered in Hollywood, Florida.

P/E Multiples - NV5 Global, Inc. Date Key Development Headline 55 3/8/18 NV5 Global Mulls acquisitions 44 2/6/18 NV5 Global, Inc. (NasdaqCM:NVEE) acquired CSA (M&E) 33 Limited. 22 1/15/18 NV5 Global, Inc. (NasdaqCM:NVEE) acquired Butsko Utility Design, Inc. 11 0

P/E Average

15 All Rights Reserved to 7 Mile Advisors Revenue Multiples - RPS Group plc PUBLIC BASKET CONSTITUENTS 2.0x 1.6x RPS Group plc 1.2x 0.8x RPS Group Plc, a consultancy company, provides advice on the 0.4x evaluation and development of energy, water, and other resources; and 0.0x development and management of the built and natural environment. The company operates through Built and Natural Environment, Energy, and Australia Asia Pacific segments. It offers consultancy services, TEV/Revenue Average including environmental assessment, project management, water resources management, due diligence, oceanography, health and safety, risk management, town and country planning, building, EBITDA Multiples - RPS Group plc landscape and urban design, surveying, and transport planning to 15 various aspects of the property and infrastructure development and 12 management sectors. The company also provides integrated technical, commercial, and project management support and training services in 9 the fields of geoscience, engineering and health, safety, and 6 environment to the oil and gas sector. The company operates primarily 3 in Europe, North America, and Australia. RPS Group Plc was incorporated in 1987 and is headquartered in Abingdon, the United 0 Kingdom.

TEV/EBITDA Average Date Key Development Headline 3/1/18 RPS Group plc Seeks Acquisitions P/E Multiples - RPS Group plc 250 200 150 100 50 0

P/E Average

16 All Rights Reserved to 7 Mile Advisors Revenue Multiples - ARCADIS NV PUBLIC BASKET CONSTITUENTS 1.5x 1.2x ARCADIS NV 0.9x 0.6x Arcadis NV operates as a design and consultancy firm for natural and 0.3x built assets worldwide. It offers design, management, and consulting solutions for light, heavy, freight, and high-speed rail, as well as bridges 0.0x and tunnels; planning, design, feasibility studies, and operational enhancements to new airports or the expansion of existing airports; mine development and exploration, transportation and logistics, and TEV/Revenue Average distribution services; consulting, design, and program and construction management services for large and complex programs; and planning, EBITDA Multiples - ARCADIS NV design, project and program management for port extensions, 20 upgrades, or new port development. The company also provides water 16 supply, treatment, management, and conveyance solutions for water boards, municipalities, provinces and states, and central governments, 12 as well as private and public utilities. In addition, it offers restoration 8 consulting and strategy, site investigation, remedy design, 4 implementation, environmental planning and construction, compliance assurance and advisory, environmental information-driven performance, 0 merger and acquisition assurance, and sustainability and climate change solutions for oil and gas, chemical, pharmaceutical, automotive, aerospace, mining, power and utilities, conglomerates, and TEV/EBITDA Average transportation industries. Further, the company provides planning and sustainable urban development, performance driven design, contract, P/E Multiples - ARCADIS NV program management, business advisory, and architecture and design 32 services for owners, managers, operators, and developers from a range of sectors. Arcadis NV was founded in 1888 and is headquartered in 24 Amsterdam, the Netherlands. 16

Date Key Development Headline 8 1/9/18 ARCADIS NV (ENXTAM:ARCAD) acquired Skipworth 0 Engelhardt Asset Management Strategists Limited. 7/26/17 ARCADIS NV (ENXTAM:ARCAD) acquired E2 ManageTech, Inc. P/E Average 17 All Rights Reserved to 7 Mile Advisors Revenue Multiples - Tetra Tech, Inc. PUBLIC BASKET CONSTITUENTS 2.0x 1.5x

Tetra Tech, Inc. 1.0x

Tetra Tech, Inc. provides consulting and engineering services 0.5x worldwideThe WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering 0.0x applied research, engineering design, construction management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory TEV/Revenue Average assessment, certification, reduction, and management services. It serves governments, and commercial and industrial clients in water EBITDA Multiples - Tetra Tech, Inc. resources analysis and water management, environmental restoration, 18 government consulting, and civil infrastructure master planning and 15 engineering design markets. The RME segment provides early data 12 collection and monitoring, data analysis and information technology, 9 feasibility studies and assessments, science and engineering applied research, engineering design, construction management, and 6 operations and maintenance services. This segment serves industrial 3 and commercial clients, U.S. federal agencies in large scale 0 remediation, and international development agencies in natural resources, energy, remediation, waste management, utilities, and international development markets. Tetra Tech, Inc. was founded in TEV/EBITDA Average 1966 and is headquartered in Pasadena, California.

P/E Multiples - Tetra Tech, Inc. Date Key Development Headline 120 2/1/18 Tetra Tech Mulls Acquisitions 90 1/24/18 Tetra Tech, Inc. (NasdaqGS:TTEK) acquired Bridgenet 60 International Inc. 1/16/18 Tetra Tech, Inc. (NasdaqGS:TTEK) signed a definitive 30 agreement to acquire NDY Management Pty Limited. 0 10/2/17 Tetra Tech, Inc. (NasdaqGS:TTEK) acquired Glumac Inc. 5/4/17 Tetra Tech Mulls Acquisitions P/E Average 18 All Rights Reserved to 7 Mile Advisors Revenue Multiples - Stantec Inc. PUBLIC BASKET CONSTITUENTS 2.5x 2.0x Stantec Inc. 1.5x 1.0x Stantec Inc. provides professional consulting services in the area of 0.5x infrastructure and facilities for clients in the public and private sectors in Canada, the United States, and internationally. It operates through four 0.0x segments: Consulting Services – Canada, Consulting Services – United States, Consulting Services – Global, and Construction Services. The company provides consulting services in engineering, architecture, TEV/Revenue Average interior design, landscape architecture, surveying, environmental services, project management, and project economics; and construction EBITDA Multiples - Stantec Inc. management services. It undertakes commercial, healthcare, 20 education, industrial, airports and aviation, civic, science and technology, waterpower and dam, power, oil and gas, mining, water, 15 building, power transportation, community development, and 10 transportation projects. The company was formerly known as Stanley Technology Group Inc. and changed its name to Stantec Inc. in October 5 1998. Stantec Inc. was founded in 1954 and is headquartered in Edmonton, Canada. 0

Date Key Development Headline TEV/EBITDA Average 2/22/18 Stantec Seeks Acquisitions

1/30/18 Stantec Inc. (TSX:STN) entered into letter of intent to P/E Multiples - Stantec Inc. acquire Occam Engineers Inc. 100 11/9/17 Stantec Mulls Acquisitions 75 10/29/17 Stantec Inc. (TSX:STN) acquired North State Resources 50 Inc. 8/9/17 Stantec Seeks Acquisitions 25 0

WSP Global Inc. 1.0x

WSP Global Inc. operates as a professional services company in the 0.5x United States, Canada, the United Kingdom, Sweden, and 0.0x internationally. The company’s Property & Buildings segment provides technical and management consultancy services, such as structural and mechanical, electrical, and plumbing engineering; and a range of TEV/Revenue Average specialist services, including fire engineering, lighting design, vertical transportation, acoustics, intelligent building systems, audiovisual systems, information technology, façade engineering, and green EBITDA Multiples - WSP Global Inc. building design. WPS Global Inc. was founded in 1959 and is 25 headquartered in Montreal, Canada. 20

Date Key Development Headline 15 1/3/18 WSP Global Inc. (TSX:WSP) acquired ISS Proko Oy from 10 ISS Palvelut Oy. 5 11/26/17 WSP Global Inc. (TSX:WSP) completed the acquisition of 0 Opus International Consultants Limited (NZSE:OIC) from Opus International (NZ) Limited, Accident Compensation Corporation, Paul Robertshawe, Blair Cooper, Blair Tallot, TEV/EBITDA Average Aspiring Asset Management Limited, Salt Funds Management Limited and other shareholders. 11/1/17 WSP Global Inc. (TSX:WSP) acquired Consultoría P/E Multiples - WSP Global Inc. 50 Colombiana S.A. 8/31/17 WSP Global Inc. (TSX:WSP) acquired Leggette, Brashears 40 & Graham, Inc. 30 8/13/17 WSP Global Inc. (TSX:WSP) made an offer to acquire 20 Opus International Consultants Limited (NZSE:OIC) from 10 Opus International (NZ) Limited, Accident Compensation Corporation, Paul Robertshawe, Blair Cooper, Blair Tallot, 0 Aspiring Asset Management Limited, Salt Funds Management Limited and other shareholders for approximately NZD 260 million. P/E Average 20 All Rights Reserved to 7 Mile Advisors Revenue Multiples - AECOM PUBLIC BASKET CONSTITUENTS 1.0x 0.8x AECOM 0.6x 0.4x AECOM, together with its subsidiaries, engages in designing, building, 0.2x financing, and operating infrastructure assets worldwide. The company 0.0x operates through four segments: Design and Consulting Services (DCS), Construction Services (CS), Management Services (MS), and AECOM Capital (ACAP). The DCS segment provides planning, TEV/Revenue Average consulting, architectural and engineering design, program management, and construction management services for industrial, commercial, institutional, and government clients, such as transportation, facilities, EBITDA Multiples - AECOM environmental, and energy/power markets. The CS segment offers 18 building construction and energy, as well as infrastructure and industrial 15 construction services. The MS segment provides program and facilities 12 management and maintenance, training, logistics, consulting, technical 9 assistance, and systems integration and information technology 6 services primarily for agencies of the U.S. government and other 3 national governments. The ACAP segment invests in and develops real 0 estate, public-private partnership (P3), and infrastructure projects. The company was formerly known as AECOM Technology Corporation and changed its name to AECOM in January 2015. AECOM was founded in TEV/EBITDA Average 1980 and is headquartered in Los Angeles, California.

Date Key Development Headline P/E Multiples - AECOM 80 9/21/17 AECOM To Seek Niche, Strategic Acquisitions 8/7/17 AECOM and China Communications Construction 60 Company Limited Highway Consultants Co., Ltd. to 40 Establish Joint Venture Company 20 7/27/17 AECOM (NYSE:ACM) completed the acquisition of Shimmick Construction Company, Inc. 0 7/5/17 AECOM (NYSE:ACM) entered into definitive agreement to acquire Shimmick Construction Company, Inc. for $175 P/E Average million.

SNC-Lavalin Group Inc. provides engineering and construction, and 0.4x operations and maintenance services worldwide. The company 0.0x operates through Mining & Metallurgy, Oil & Gas, Power, Infrastructure, and Capital segments. The company offers various solutions for projects in the aluminum, gold, copper, iron ore, nickel, fertilizer, TEV/Revenue Average sulphur, and other projects. It also undertakes oil and gas projects in the upstream, midstream, downstream, and supporting infrastructure sectors, as well as supports clients in the asset lifecycle from front-end EBITDA Multiples - SNC-Lavalin Group Inc. evaluation through decommissioning. In addition, it covers projects and 25 services in hydro, nuclear, and thermal power generation; renewable 20 power generation; energy from waste; and electrical power delivery 15 systems, as well as undertakes infrastructure and construction projects in various sectors consisting of hospitals, mass transit, heavy rail, 10 roads, bridges, airports, ports and harbors, facilities architecture and 5 engineering, industrial, geotechnical engineering, and materials testing; 0 and water infrastructure and treatment facilities. SNC-Lavalin Group Inc. was founded in 1911 and is headquartered in Montreal, Canada. TEV/EBITDA Average

Date Key Development Headline 12/20/17 SNC-Lavalin to Form a Joint Venture with ABB P/E Multiples - SNC-Lavalin Group Inc. 10/30/17 SNC-Lavalin Group Inc. (TSX:SNC) acquired Data Transfer 250 Solutions, Inc. for $45 million. 200 7/26/17 SNC-Lavalin Seeks Acquisitions 150 7/2/17 SNC-Lavalin Group Inc. (TSX:SNC) completed the 100 acquisition of WS Atkins plc (LSE:ATK). 50 6/29/17 BBGI Sicav S.A. (LSE:BBGI) entered into an agreement to 0 acquire 80% stake in The William R. Bennett Bridge and Restigouche Hospital Centre Projects from SNC-Lavalin P/E Average Group Inc. (TSX:SNC).

22 All Rights Reserved to 7 Mile Advisors Revenue Multiples - Jacobs Engineering Group Inc. 1.0x PUBLIC BASKET CONSTITUENTS 0.8x Jacobs Engineering Group Inc. 0.6x 0.4x Jacobs Engineering Group Inc. provides technical, professional, and 0.2x construction services. It offers project services that include engineering, 0.0x architectural, interiors, design, planning, and related services, as well as planning, scheduling, procurement, estimating, cost engineering, project accounting and delivery, safety, and other support services. The TEV/Revenue Average company also provides process, scientific, and systems consulting services, including performing pricing studies, market analyses, and financial projections in determining the feasibility of a project; EBITDA Multiples - Jacobs Engineering Group Inc. performing gasoline reformulation modeling; analyzing and evaluating 15 layout and mechanical designs for complex processing plants; 12 analyzing automation and control systems; analyzing, designing, and 9 executing bio containment strategies; developing and performing 6 process protocols; and performing geological and metallurgical studies. In addition, it offers traditional field construction, modular construction 3 consulting, and environmental remedial construction services. The 0 company was founded in 1947 and is headquartered in Dallas, Texas.

Date Key Development Headline TEV/EBITDA Average 12/14/17 Jacobs Engineering Group Inc. (NYSE:JEC) completed the acquisition of CH2M HILL Companies, Ltd. from Apollo Management VIII, L.P., managed by Apollo Global P/E Multiples - Jacobs Engineering Group Inc. Management, LLC (NYSE:APO) and others. 40 9/28/17 Neste Oyj (HLSE:NESTE) acquired the remaining 40% 32 stake in Neste Jacobs Oy from Jacobs Engineering Group 24 Inc. (NYSE:JEC). 16 8/30/17 Jacobs Engineering Group Inc. (NYSE:JEC) acquired Blue 8 Canopy Group, LLC. 0 8/2/17 CH2M HILL Companies, Ltd., Jacobs Engineering Group Inc. - M&A Call 8/2/17 CH2M HILL Companies, Ltd., Jacobs Engineering Group P/E Average Inc. - M&A Call 23 All Rights Reserved to 7 Mile Advisors CONTACT INFORMATION

7MA provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. We advise on M&A and private capital transactions, and provide market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, we help our clients sell their companies, raise capital, grow through acquisitions, and evaluate new markets. Securities offered through 7M Securities LLC. Leroy Davis, Partner 704.899.5962 [email protected] Tripp Davis, Partner 704.899.5762 [email protected] Andy Johnston, Partner 704.899.5961 [email protected] Tom Dinnegan, Managing Director 310. 426.2410 [email protected] Ben Lunka, Managing Director 704.496.2995 [email protected] Jeff Stoecklein, Managing Director 312-373-3737 [email protected] Kristina Sergueeva, Director 704.899.5149 [email protected] Neil Churman, Director 704.899.5960 x 121 [email protected] John Cooper, Director 704.973.3996 [email protected] Tim Frye, Director 704.973.3994 [email protected] Casey Augustine, Business Development - Manager 704.973.3999 [email protected] Nicholas Prendergast, Financial Analyst 704.899.5960 [email protected] Ariail Siggins, Marketing Director 704.899.5960 x 123 [email protected] Rory Julyan, Associate 704.899.5960 [email protected] Chevonese Dacres, Analyst 360.499.1502 [email protected] Charlotte | Los Angeles | Tampa | Houston | Chicago