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      <liveTestFlag>LIVE</liveTestFlag>
      <flags>
        <confirmingCopyFlag>false</confirmingCopyFlag>
        <returnCopyFlag>false</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
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      <filer>
        <credentials>
          <cik>0001426327</cik>
          <ccc>XXXXXXXX</ccc>
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      <periodOfReport>09-30-2025</periodOfReport>
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      <reportCalendarOrQuarter>09-30-2025</reportCalendarOrQuarter>
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        <name>Scheer, Rowlett &amp; Associates Investment Management Ltd.</name>
        <address>
          <com:street1>130 KING STREET WEST</com:street1>
          <com:street2>SUITE 1400</com:street2>
          <com:city>TORONTO</com:city>
          <com:stateOrCountry>A6</com:stateOrCountry>
          <com:zipCode>M5X 1C8</com:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-12691</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>Tim Bradshaw</name>
      <title>Chief Compliance Officer</title>
      <phone>416-862-2020</phone>
      <signature>Tim Bradshaw</signature>
      <city>Toronto</city>
      <stateOrCountry>A6</stateOrCountry>
      <signatureDate>11-13-2025</signatureDate>
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