Shawcor Announces Publication of 2020 Environmental, Social and Governance Report

Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) today announced the publication of its 2020 Environmental, Social, and Governance (“ESG”) report. The report can be found on the Company’s website at https://www.shawcor.com/about/sustainability.

"We continue to focus on improving our ESG performance and delivering innovative solutions that enable more responsible and efficient operations for our customers,” said Mike Reeves, President and CEO of Shawcor. “We are proud to share our early ESG progress and establish our sustainability aspirations for the longer-term. The entire Shawcor team is committed to ensuring our ESG initiatives reduce our impact on the environment, contribute positively to communities and further elevate our ability to attract and develop diverse talent; in short, making us a fundamentally better organization.”

Shawcor ambitions include:

• 2030 ambition to reduce Scope 1&2 GHG Emissions by 50% from its 2019 baseline
• 2030 ambition to increase diverse representation within the senior management team by 20% from its 2019 baseline
• A consistent vision of an Incident and Injury Free workplace

Within this report the Company has utilized the Sustainable Accounting Standards Board (SASB) framework, and expanded reporting to include references to the Global Reporting Initiative (GRI). Historical data performance metrics and disclosures for 2019 are also available on the Company website.

Shawcor Ltd. is a growth-oriented, global material sciences company serving the Infrastructure, Energy, and Transportation markets. The Company operates through a network of fixed and mobile manufacturing and service facilities. Its three business segments, Composite Systems, Automotive & Industrial and Pipeline & Pipe Services enable responsible renewal and enhancement of critical infrastructure while lowering risk and environmental impact.

This news release contains forward-looking information within the meaning of applicable securities laws. Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "predict", "estimate" or similar terminology are used to identify forward-looking information. This forward-looking information is based on assumptions, estimates and analysis made in the light of the Company's experience and its perception of trends, current conditions and expected developments, as well as other factors that are believed by the Company to be reasonable and relevant in the circumstances. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from those predicted, expressed or implied by the forward-looking information. The forward-looking information is provided as of the date of this news release and the Company does not assume any obligation to update or revise the forward-looking information to reflect new events or circumstances, except as required by law.

For further information, please contact

Meghan MacEachernExternal Communications & ESG, DirectorTelephone: 437.341.1848Email: [e-mail]

Source: Shawcor Ltd.