INVESTOR PRESENTATION March 2016 FORWARD LOOKING STATEMENTS

This document contains statements that constitute forward-looking statements within the meaning of applicable securities legislation. These forward-looking statements include, among others, the Company’s prospects, expected revenues, expenses, profits, expected developments and strategies for its operations, and other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results of operations or performance. These forward-looking statements are identified by their use of terms and phrases such as “anticipate,” “achieve”, “achievable,” “believe,” “estimate,” “expect,” “intend”, “plan”, “planned”, and other similar terms and phrases. Forward-looking statements are based on current expectations, estimates, projections and assumptions that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include: fluctuating prices for crude oil and natural gas; changes in drilling activity; general global economic, political and business conditions; weather conditions; regulatory changes; and availability of products, qualified personnel, manufacturing capacity and raw materials. If any of these uncertainties materialize, or if assumptions are incorrect, actual results may vary materially from those expected.

2 OVERVIEW OF TRICAN - CURRENT

. Full service, Canadian pressure YEAR TO DATE DECEMBER 31, 2015 pumping company Revenue by Service Line

2% 3% 2% . 440,000 HP available fracturing 9% capacity 17%

. Completions Tools business active in North America, Norway and Russia 67%

Fracturing Coiled Tubing

. Focus on safety, technology, and Cementing Acid & Specialty Chemicals operational performance Nitrogen Industrial & Pipeline Services

3 SALE OF U.S. BUSINESS

. 645,000 HP fracturing equipment

. 14 Cementing units

. 7 Coiled Tubing units

. Property, personnel, and ongoing work commitments

4 SALE OF U.S. BUSINESS

. Sold to Keane Group

. Approximately $285 million (CAD) cash

. 10% retained ownership in Keane

. Potential 20% upside from certain economic interests upon Keane liquidity event

. Total transaction value between $352 and $405 million (CAD)

5 SALE OF U.S. BUSINESS

. Trican retains ownership of technology

. Keane has a non-exclusive license to Trican technology

. Trican will market certain technology to others in U.S. and to markets in which we no longer have equipment

. Expected closing: March 15, 2016

6 DEBT REDUCTION AND COVENANT RELIEF

. Proceeds from U.S. sale will be used to pay down debt

. Debt post transaction of approximately $235 million

. $140 million of long-term notes

. $95 million drawn on $308 million revolver

. Will continue to explore further debt reduction

7 COVENANT RELIEF

. Amended covenants allow Trican to ride out the downturn

. All financial covenants eliminated until Q3 2016

. Leverage covenant of 5x and interest coverage of 2x will start in Q3 and will be calculated in Q3 as four times Q3 EBITDA

8 COVENANT RELIEF

. LTM calculations will not commence until Q2 2017

. Normalized covenant of 3x Debt/EBITDA by Q1 2018

. Equity cure provision allows us to apply 50% of any equity raise towards EBITDA in covenant calculations

. Equity cure can be used twice per year up to a maximum of $20 million

9 U.S. SALE - STRATEGIC RATIONALE

. Covenant relief and strengthened balance sheet puts Trican in a strong position to weather the downturn

. Fair deal in this market • $546 to $628 / HP • 67% to 77% of PPE

. Retained ownership allows us to participate in U.S. recovery

. Combined Trican-Keane will have lower cost structure and good balance sheet to ride out the downturn and size to compete in U.S. going forward

10 U.S. SALE - STRATEGIC RATIONALE

. Keane intends to continue to grow the business to be a major player in the U.S. market

. Trican has a 2-year non-compete and first right to purchase the business should we decide to re-enter the U.S.

. Trican technology and engineering will augment Keane’s operations

. Trican will license our technology to others going forward

. Allows Trican to focus on our core markets

11 CANADA

. Trican is the largest pressure pumper in Canada

. Trican offers full services in Canadian market which balances revenue and profitability • Large cementing market share • Strong market share in other services

. Canadian market has fewer competitors (6 vs. over 30 in the U.S. market)

. Trican has a strong customer base in Canada • Numerous long-term clients

. Canadian dollar to U.S. dollar exchange rate helps producer economics

13 CANADA

. Strong safety record

. Technical advantage in Canadian market which pays off in downturn • MVP FracTM system

• Geological and reservoir services integrated into frac designs

• Lightweight cement blends

• Numerous engineers embedded in client offices

• Technology retains and grows market share and improves returns in a downturn

14 GEOGRAPHIC COVERAGE

Horn River FORT NELSON HIGH LEVEL Shale Manitoba

Montney FORT ST. JOHN Shale RED EARTH

GRANDE PRAIRIE Duvernay Shale WHITECOURT HINTON NISKU LLOYDMINSTER DRAYTON VALLEY Viking RED DEER PROVOST Tight Oil DRUMHELLER

Tight Gas BRANDON BROOKS ESTEVAN

MEDICINE HAT

Bakken Spearfish Cardium Lower Shaunavon Shale Tight Oil Tight Oil

15 CANADA EQUIPMENT

Canadian HP Growth . Current available Canadian fleet 500,000 450,000 • 440,000 fracturing HP 400,000 350,000 • 55 Cementing units 300,000 250,000

200,000 • 38 N2 Pumpers 150,000 • 19 Acid Units 100,000 50,000

0 • 16 Coil Units 2008 2009 2010 2011 2012 2013 2014 2015 2016*

* Anticipated HP at year-end based on approved budgets, which are subject to change

16 CANADA - OUTLOOK

. 35% of equipment parked during 2015

. Parked equipment ring fenced and ready to go to work when activity improves

. Will right size fleet up or down to maximize utilization and profits

. Pricing down 30% from 2014 peak levels

. Customer base strong

. Cost cutting measures have substantially improved second half results in 2015 • Still working on additional cost savings

17 CANADA - OUTLOOK

. Utilization below expectations in Q1 (70%)

. A warm March could hurt quarter

. Pricing down in Q1 2016

. Q2 2016 slow due to normal spring breakup

. Poor visibility at this time on Q3 2016 • No adjustments up or down

. Anticipate slower Q3 2016 vs. previous year

18 CANADA - COST REDUCTIONS

. Reduce active fleets to match Q3 anticipated activity

. Exploring closing locations

. Reduce fixed costs further to match size of market

. Significant reductions in corporate costs as business becomes Canadian-focused

19 COMPLETION TOOLS COMPLETION TOOLS

. Operations in Norway, Russia, USA and Canada . Offer multistage frac tools, completion and intervention tools for both open hole and cemented installations . Competitive advantage with patented completion system that has capacity for 240 cemented stages

. Grown Norwegian and Russian revenue and profitability in 2015 due to market share growth . 2016 demand still challenged in North America and anticipate continued strong performance in Norway and Russia

21 INTERNATIONAL

. Closed sale of Russian business for $195 million CDN • Includes first tranche of working capital adjustment • Sold for 6.4x 2014 EBITDA

. Closed Saudi Arabia and Australia as scale not large enough to sustain International infrastructure

. Kazakhstan sale in progress • Currently working with potential buyers

22 GETTING THROUGH THE DOWNTURN GETTING THROUGH THE DOWNTURN

. Improve balance sheet

. Keep utilization high and costs low in remaining operations

. Reduce fixed costs as business centralizes to Canada

. Maintain customer relationships

. Provide differentiating safety, efficiency and technology

24 POSITIVES AFTER THE DOWNTURN

. Strong earnings on reduced cost structure as utilization and pricing improve

. Competitive landscape changing • Baker-Halliburton merger will create opportunities in all of our markets

• Competitive landscape will change - Smaller competitors struggling to survive - Mergers of mid-sized companies improves market - Equipment attrition will be significant

25 COMING OUT OF THE DOWNTURN

. We will focus on: • Being on the leading edge of cost and operational efficiencies • Achieving cost advantages through size and scale in Canada • Separating ourselves through technology, safety, service quality and innovation

. Long term, need to lower cost to producers without lowering our margins • More efficient, lower cost fracturing business through equipment designs, technology and reductions in costs . Will look to expand service lines in Canada upon recovery to leverage on our strong business

26 INNOVATION INNOVATION

. Trican focuses on separating itself with technology

. Technology must reduce $/BOE for our customers or lower our costs

. MVP FracTM • Patented chemical solution that reduces proppant settling in slick water fracs

• Strong market acceptance in Canada

• Recent case studies show 20% increased production in the Cardium and 30% increased production in the Montney

• Will market MVP in US and other regions

28 INNOVATION

. TriVertTM Diverting Agent • Can be used in new completions or refracturing treatments

• Redirects fluid into new sections of the wellbore

• Contains particles that dissolve with time and temperature

• Expected to result in increased production without further well intervention

29 TRICAN RESERVOIR SOLUTIONS

. Geological Solutions • Offer unconventional rock analysis, core testing and rock mechanics

. Reservoir Solutions • Reservoir model that integrates geological and frac data to optimize long-term reservoir recoverability

30 SUSTAINABLE INNOVATION

. EcoClean Fluids • Continuing to expand our line of environmentally friendly fracturing fluids

. Water Management and Reduction • Developed a 100% recycled water crosslinked fluid solution with no mechanical treatment • Recycled water used on most fracturing projects in the U.S.

31 FINANCIAL OVERVIEW POST USA BALANCE SHEET

. Net book value of assets approximately $475 million

. $115 million drawn on $306 million revolving credit facility

. $306 million revolving credit facility is committed until 2018 • Max utilization capped at $175 million until Q3 2016

. $142 million of notes • $43 million is due in April 2016 • All note amounts are net of currency swaps

33 CASH FLOW

. Managing cash flow and liquidity a key focus in 2016

. Dividend suspended until financial performance improves

. Total capital spend in 2016 expected to be approximately $20 million • No expansion initiatives will be considered until financial performance improves

34 INVESTMENT ADVANTAGES

. Trading substantially below book value

. Significant earnings potential on existing assets

. High leverage on low cost structure coming out of downturn

. Strong Canadian business that is generating industry leading margins

. Strong management team that has managed through numerous cycles

. Equipment base not scavenged and ready to go when activity increases

35 SUMMARY

. Number of Outstanding Shares (as of February 29, 2016): • 148.9 million

. Average Daily Volume (one month period): • 859,559 (as of February 29, 2016)

. Directors/Officers Ownership: • 2.0% (approx. - diluted basis)

. Market Cap: • $198 million as of February 29, 2016

36 INVESTOR PRESENTATION March 2016