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AIF), the Terms “We”, “Our”, “Us” “Company” and “Finning” Mean Finning International Inc

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AIF), the Terms “We”, “Our”, “Us” “Company” and “Finning” Mean Finning International Inc FINNING INTERNATIONAL INC. ANNUAL INFORMATION FORM 2020 February 11, 2021 Finning International Inc. Suite 300 565 Great Northern Way Vancouver, British Columbia V5T 0H8 Finning International Inc. 2020 Annual Information Form TABLE OF CONTENTS FORWARD LOOKING INFORMATION .................................................................................................................. 4 1. CORPORATE STRUCTURE ................................................................................................................................... 6 1.1 NAME, ADDRESS AND INCORPORATION .................................................................................................................. 6 1.2 INTERCORPORATE RELATIONSHIPS ......................................................................................................................... 6 2. GENERAL DEVELOPMENT OF THE BUSINESS .............................................................................................. 7 2.1 OVERVIEW OF OPERATIONS .................................................................................................................................... 7 2.2 STRATEGIC PLAN .................................................................................................................................................... 7 2.3 THREE YEAR HISTORY ............................................................................................................................................ 8 2.4 GROWTH OPPORTUNITIES ....................................................................................................................................... 9 3. DESCRIPTION OF OUR BUSINESS .................................................................................................................... 11 3.1 PRINCIPAL LINES OF BUSINESS ............................................................................................................................. 11 3.1.1 Product Support.......................................................................................................................................................... 11 3.1.2 New Equipment.......................................................................................................................................................... 11 3.1.3 Used Equipment ......................................................................................................................................................... 12 3.1.4 Equipment Rental ....................................................................................................................................................... 12 3.1.5 Refueling .................................................................................................................................................................... 12 3.2 PRINCIPAL MARKETS ............................................................................................................................................ 12 3.3 DISTRIBUTION METHODS ...................................................................................................................................... 14 3.4 REVENUE BY PRINCIPAL LINES OF BUSINESS ........................................................................................................ 14 3.5 EMPLOYEE DEVELOPMENT ................................................................................................................................... 15 3.6 COMPETITIVE CONDITIONS ................................................................................................................................... 16 3.7 BUSINESS CYCLES ................................................................................................................................................ 16 3.8 DEALERSHIP AND DISTRIBUTOR AGREEMENTS ..................................................................................................... 16 3.9 EMPLOYEE RELATIONS ......................................................................................................................................... 17 3.10 FOREIGN OPERATIONS ........................................................................................................................................ 17 3.11 ETHICS ................................................................................................................................................................ 17 3.12 SUSTAINABILITY ................................................................................................................................................. 18 4. KEY BUSINESS RISKS .......................................................................................................................................... 18 4.1 RISK MANAGEMENT ............................................................................................................................................. 18 4.2 KEY BUSINESS RISKS ............................................................................................................................................ 18 4.2.1 COVID-19 Pandemic ................................................................................................................................................. 18 4.2.2 Relationship with Caterpillar ..................................................................................................................................... 19 4.2.3 Economic Conditions / Business Cyclicality.............................................................................................................. 20 4.2.4 Information Systems, Technology and Business Process Changes ............................................................................ 20 4.2.5 Cybersecurity ............................................................................................................................................................. 21 4.2.6 Safety & Health .......................................................................................................................................................... 22 4.2.7 Climate Change .......................................................................................................................................................... 22 4.2.8 Competition................................................................................................................................................................ 23 4.2.9 Growth Initiatives / Integration of Acquisitions / Project Execution .......................................................................... 24 4.2.10 Key Personnel .......................................................................................................................................................... 24 4.2.11 Long-term Product Support Contracts and Complex Power and Energy Systems ................................................... 24 4.2.12 International Operations ........................................................................................................................................... 25 4.2.13 Labour Relations ...................................................................................................................................................... 26 -2- Finning International Inc. 2020 Annual Information Form 4.2.14 Business Continuity Risks ........................................................................................................................................ 26 4.2.15 Government Regulation ........................................................................................................................................... 26 4.2.16 Defined Benefit Pension Plans ................................................................................................................................. 27 4.2.17 Scope of Insurance Coverage ................................................................................................................................... 27 4.2.18 Repurchase Commitments and Guarantees .............................................................................................................. 27 4.2.19 Future Warranty Claims ........................................................................................................................................... 28 5. DIVIDENDS .............................................................................................................................................................. 28 6. DESCRIPTION OF CAPITAL STRUCTURE ...................................................................................................... 28 7. CREDIT RATINGS ................................................................................................................................................. 29 7.1 LONG-TERM DEBT CREDIT RATINGS .................................................................................................................... 29 7.2 SHORT-TERM DEBT CREDIT RATINGS .................................................................................................................. 30 8. MARKET FOR OUR SECURITIES ...................................................................................................................... 30 9. DIRECTORS AND OFFICERS .............................................................................................................................. 30 9.1 OUR BOARD OF DIRECTORS .................................................................................................................................
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