Code of Ethics

It is the policy of SNC-Lavalin Group Inc. to maintain the highest standard of ethics in the conduct of its business and in its relations with whomever it does business or is associated — its employees, directors, shareholders, customers, associates and suppliers, as well as with governments, the media and the public. The company's integrity and reputation for ethical practices are among its most valued assets and are essential elements in its continued quest for sustained profitability. Such integrity and reputation ultimately depend upon the individual actions of its employees, officers and directors, representatives, agents and consultants all over the world. Each employee is therefore personally responsible and accountable for compliance with this Code. Its provisions are mandatory and full compliance is expected of all employees as a condition of employment.

This Code is applicable to employees in all parts of SNC-Lavalin Group Inc. including its subsidiaries and associated companies in Canada and abroad.

It is recognized that social values, laws and customs may differ in different parts of the world, so that detailed interpretation of some of the Code’s provisions may vary from country to country. Nevertheless, the SNC-Lavalin Group Inc. firmly believes that the Code's underlying principles and basic rules are sound, relevant and applicable everywhere, and in keeping with the customs and statutes of other jurisdictions.

SNC-Lavalin is committed to increasing its value to customers, employees and shareholders by profitably providing useful products and services to worldwide markets. SNC-Lavalin will fulfill this commitment while upholding the highest level of ethical conduct and meeting its responsibilities as a good corporate citizen.

Code of Ethics - April 2005
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