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Third Quarter Ended September 30, 2020 Forward-Looking Statements

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Third Quarter Ended September 30, 2020 Forward-Looking Statements Third Quarter Ended September 30, 2020 Forward-Looking Statements In the interest of providing shareholders and potential investors with information regarding TFI International, including management’s assessment of future plans and operations, certain statements in this presentation are forward-looking statements subject to risks, uncertainties and other important factors that could cause the Company’s actual performance to differ materially from those expressed in or implied by such statements. Such factors are further discussed under Risks and Uncertainties in the Company’s Annual Information Form and MD&A, but readers are cautioned that the list of factors that may affect future growth, results and performance is not exhaustive, and undue reliance should not be placed on forward- looking statements. The expectations conveyed by the forward-looking statements are based on information available to it on the date such statements were made, and there can be no assurance that such expectations will prove to be correct. All subsequent forward-looking statements, whether written or orally attributable to the Company or persons acting on its behalf, are expressly qualified in their entirety by these cautionary statements. Unless otherwise required by applicable securities laws, the Company expressly disclaims any intention, and assumes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 2 TFI International: Who We Are Diversified: Full service: Package & Courier, Transport and Less-Than-Truckload, logistics Truckload and Logistics North Extensive American Network: Leader: 368 facilities, Operations across 18,499 tractors1, U.S., Canada and 25,720 trailers Mexico 16,754 Decentralized, employees, entrepreneurial of which 8,432 management are drivers approach 1 7,940 owned or leased; 10,559 are independent contractors 3 Our Customer Value Proposition We create transportation and supply chain advantages to… …mitigate risk for customers …improve their efficiency and delivery timing …reduce their delivery costs …drive satisfaction for the end consumer 4 Why Invest in TFI International? Superior record Market leader in of growth and key transportation shareholder value and logistics creation segments Track record of M&A execution Diversification by with well-defined industry sectors acquisition and geography pipeline Robust Return on Equity 5 Investment Highlights 11.9% Operating Margin1 Best-in-class operating margins, 12.8% FCF Yield2 FCF yield and FCF conversion 89.4% FCF Conversion3 Avg. Adjusted ROE of 18.6% since 20164 Proven track record of growth Completed 88 acquisitions since 2008 through disciplined acquisition strategy Industry remains fragmented Balanced capital allocation $4.2 billion 20-year total FCF approach to drive $1.0 billion returned to shareholders since shareholder value 2016 Access to $1.2 billion revolving facilities Robust balance sheet position ($1.1 billion undrawn) Annual Forward Dividend Yield of 2.1%5 Note: All financial results presented on this page represent continuing operations. 1 TTM Q3 2020, calculated using revenue before surcharge. 2 TTM Q3 2020 FCF divided by the September 30, 2020 market cap. 3 Calculated as TTM Q3 2020 (Adjusted EBITDA – Net Capex ex-property) / Adjusted EBITDA. 4 Before impairment. 5 Based on $0.29 dividend approved by the Board on October 22, 2020. 6 Low Capex Facilitates Asset-Light Model TTM Q3-2020 Net Capex (% of Total Revenue) 8.9% 7.8% 6.5% 2.0% 0.9% 2 3 4 TFII Truckload Peer Average 1 Package & Courier Peer Average Less-than-Truckload Peer Average Logistics & Last Mile Peer Average Note: TFI Net Capex excludes purchases and sales of property. TFII data reflects TTM Q3-2020 while peer data is TTM Q2-2020. 1 Truckload: Heartland, Knight-Swift, Werner, Schneider and U.S. Xpress. 2 Package & Courier: FedEx and UPS. 3 Less-Than-Truckload: ArcBest, Old Dominion Freight Line, Saia and YRC Worldwide. 4 Logistics: CH Robinson, Landstar, Echo and Forward Air. 7 Market Leadership in Key Transportation and Logistics Segments: FCF Conversion Package & Courier Less-Than-Truckload 82.3% 92.0% 59.0% 35.5% 1 2 Peer Average Peer Average Truckload Logistics 88.5% 99.8% 84.4% 52.7% 3 4 Peer Average Peer Average Note: FCF Conversion (%) calculated as (Adjusted EBITDA – Net Capex ex-property) / Adjusted EBITDA. TFII data reflects TTM Q3-2020 while peer data is TTM Q2-2020. 1 Package & Courier: FedEx and UPS. 2 Less-Than-Truckload: ArcBest, Old Dominion Freight Line, Saia and YRC Worldwide. 3 Truckload: Heartland, Knight-Swift, Werner, Schneider and U.S. Xpress. 4 Logistics: CH Robinson, Landstar, Echo and Forward Air. 8 Our Strategy of Growth Through Acquisitions Proven track record of executing on M&A strategy across highly fragmented markets – Completed 88 acquisitions since 2008 – Strong focus on integration, operations and realization of synergies Our disciplined acquisition criteria: – Immediately accretive to EPS and free cash flow – Fit with one of our four segments (Package & Courier, LTL, TL, Logistics) – High free cash flow generation – U.S. or Canada footprint – Strong management team – Synergy and growth potential 9 Overview of the TFI International Platform Truckload Logistics Less-Than-Truckload Package & Courier (47% of YTD 2020 (24% of YTD 2020 (16% of YTD 2020 (13% of YTD 2020 Revenue) Revenue) Revenue) Revenue) Conventional Specialized Over-the-road Intermodal (26% of YTD (21% of YTD (10% of YTD (6% of YTD 2020 Revenue) 2020 Revenue) 2020 Revenue) 2020 Revenue) 10 Services by Geography TFI has built a robust and well-diversified revenue base By Geography (YTD Q3-2020) 0.5% — No client accounts for > 5% of consolidated revenue Canada 46.3% Less-Than- Package & United States Truckload Logistics 53.2% Truckload Courier Mexico By Top Customers' Industry Canada ✔ ✔ ✔ ✔ (YTD Q3-2020) 2% 3% 1% 5% 5% 26% 5% United States ✔ ✔ ✔ 7% 7% 16% 7% 8% 8% 1 Mexico ✔ ✔ ✔ Retail Manufactured Goods Metals & Mining Building Materials Services Food & Beverage Automotive Others Forest Products Chemicals & Explosives 1 Truckload and LTL in Mexico provided by CFI Logistica. Energy Waste Management Maritime Containers 11 Truckload Segment Geographic Footprint1 Segment Overview Dry van full truckload Flatbed, tanks, dumps, oversized and other specialized services Modern fleet We own the majority of our assets and have long established partner carrier relationships 47% of YTD 2020 Revenue Truckload Operating Companies CONVENTIONAL (26% of Total Revs.) SPECIALIZED (21% of Total Revs.) A&M Intl. Laidlaw Carriers Van BTC East E.L. Farmer Kingsway Bulk TF Truckload & Logistics Besner MCT BTC West GBT Laidlaw Carriers Bulk Timeline Logisitc CFI Papineau Intl. Charbonneau GHL Transport McArthur Express Trans2D Logistics Couture TF Dedicated Logistics Coastal Transport Golden Intl. Mirabel Logistic Tri-Line Carriers JCG Transport America Contrans Flatbed Group Gusgo Nordique TST Expedited Contrans Tank Group JAF P&W Intermodal TTL Contrans Vrac JAG Piston Tank Westfreight Systems Durocher Intl. KHT Rebel Transport Winalta 1 Truckload in Mexico provided by CFI Logistica. SAF Logistics 12 Logistics Segment Geographic Footprint Segment Overview Same day parcel delivery nationwide in the United States and Canada Truck brokerage and other logistics services 24% of YTD 2020 Revenue Logistics Operating Companies AC Logistics Canada Clarke North America Kobelt Transportation St-Lambert Cavalier Logistics Cornerstone Logistics Landry Stream Logistics CFI Logistica Craler Logikit TForce Critical CFI Logistics DSN Chemical Transportation Patriot Freight Services TForce Logistics CK Logistics E&L Logistics Quik X Logistics TForce Logistics Canada Guardian Medical Logistics TForce Premier Distribution 13 Less-Than-Truckload Segment Geographic Footprint1 Segment Overview Over-the-road and intermodal LTL services Solid track record for safety and on-time delivery Focus on customer facing technology Asset light intermodal 16% of YTD 2020 Revenue Less-Than-Truckload Operating Companies OVER-THE-ROAD (10% of Total Revs.) INTERMODAL (6% of Total Revs.) Cavalier Normandin Clarke Transport Quiktrax Intermodal Concord Quik X Transportation National Fast Freight Vitran La Crete Transport Tripar Transportation McMurray Serv-U Expediting TST-CF Express 1 LTL in U.S. provided by partners and in Mexico provided by CFI Logistica. 14 Package & Courier Segment Geographic Footprint Segment Overview Next-day in Canada and globally through partnership with DHL Cutting edge technology Specialized supply chain services 13% of YTD 2020 Revenue Package & Courier Operating Companies Canpar Express Loomis Express ICS Courier TForce Integrated Solutions 15 Our Decentralized Structure: Uniquely Delivering Value for Shareholders Our four segments are constituted of wholly-owned subsidiaries operating under their own brands Our differentiated approach to operating our businesses enables us to create shareholder value by… …reaping the benefits of both economies of scale and specialization …more efficiently allocating resources …capitalizing on market opportunities and exploiting market dislocations in real time 16 Superior Track Record of Growth Revenue Before Fuel Surcharge (C$ in millions) Adjusted EBITDA1,2,4 (C$ in millions) $5,000 $4,614 $1,000 $861 $4,000 $800 $3,000 $600 $2,000 $400 $1,000 $200 $0 $0 1999 2019 1999 2019 Diluted Adjusted EPS from Continuing Operations1,2,3 Net Cash from Operating Activities (C$ in millions)
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