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INVESTOR PRESENTATION February 2017 FORWARD LOOKING STATEMENTS

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INVESTOR PRESENTATION February 2017 FORWARD LOOKING STATEMENTS INVESTOR PRESENTATION February 2017 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 . Full service, Canadian pressure pumping company YEAR TO DATE SEPTEMBER 30, 2016 Revenue by Service Line . Market leader in Canada 5% 5% 3% 3% . 440,000 HP available fracturing capacity 26% . Large Cement, Coiled Tubing, Acidizing, Nitrogen and Industrial 58% Services business Fracturing Coiled Tubing . Focus on safety, technology, and Cementing Acid & Specialty Chemicals operational performance Nitrogen Industrial & Pipeline Services 3 CANADA 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 to U.S. dollar exchange rate helps customer economics 5 CANADA – COMPETITIVE ADVANTAGE . Strong safety record • TRIR YTD rate of 0.7 • LTIR YTD rate of 0.0 . Technical advantage in Canadian market • Numerous engineers embedded in client offices • MVP FracTM system • Geological and reservoir services integrated into frac designs • Lightweight cement blends • Technology retains and grows market share and improves returns • Lowers product cost . Strong operations . Significantly lowered cost structure in downturn 6 GEOGRAPHIC COVERAGE Horn River Shale British Columbia Alberta Saskatchewan Manitoba Montney FORT ST. JOHN Shale GRANDE PRAIRIE Duvernay Shale WHITECOURT HINTON NISKU LLOYDMINSTER DRAYTON VALLEY Viking RED DEER Tight Oil Deep CALGARY Basin BROOKS ESTEVAN Bakken Spearfish Cardium Lower Shaunavon Shale Tight Oil Tight Oil 7 CANADA EQUIPMENT . Current Canadian fleet • 440,000 fracturing HP • 55 Cementing units • 38 N2 Pumpers Canadian HP Growth 500,000 • 19 Acid Units 450,000 • 16 Coil Units 400,000 350,000 . 300,000 50% of equipment currently parked 250,000 200,000 . Equipment not scavenged 150,000 100,000 • Estimate $3.5 million Capex to 50,000 activate parked fracturing equipment 0 2008 2009 2010 2011 2012 2013 2014 2015 2016* • $50,000 Capex / truck to activate * Anticipated HP at year-end based on approved parked cement equipment budgets, which are subject to change . Looking to activate parked in equipment in 2017 8 CANADA EQUIPMENT – FRACTURING PUMPS . 85% of Trican’s active fleet already running continuous duty Quintuplex high HP pumps . 70% of fluid ends converted to stainless steel • Gives 4 times longer life . 40% reduction in pumper equipment operators on location due to electronic control systems . No additional capital required to upgrade fracturing pumps 9 CANADA - OUTLOOK 2017 . Customers’ conventional capex up 50-60% year-over year . Estimate 5,500 to 6,500 wells to be drilled in 2017 • Up 38-63% year-over-year . Canadian frac capacity fully utilized at 6,500 to 7,500 wells . Deep Basin, Montney, Duvernay activity is 60-70% of anticipated Canadian activity • 70-75% of Trican revenue comes from these plays . Cardium, Viking and other oil plays will grow as oil prices improve 10 CANADA - OUTLOOK 2017 . Increased frac intensity and job size . Sand volume up 44% year-over-year . Average sand per well increasing • Currently 2,260 tonnes / well in Montney • Still 50% below US average . Average stages per well increasing • Currently 26 stages per well • Increasing 10% per year 11 CANADA - OUTLOOK 2017 . Fully booked for active equipment in major service lines until April 2017 . Focused on increasing pricing • Raising pricing for 2017 work • Targeting 10% price increase . Second half of 2017 activity looks strong based on current commodity prices . Looking to activate some parked equipment as margins improve 12 CANADA – 2016 COST SAVINGS . Fixed costs reduced by $140 million per year since the start of the downturn . Minimal fixed cost increases going forward as business improves . Lowered fixed cost structure • Fixed costs now 25% of costs as compared to 50% pre-downturn . Variable costs reduced by 27% since the beginning of 2016 • No increases forecast in early 2017 13 GETTING THROUGH THE DOWNTURN GROWTH . Strong earnings from Canadian assets with a reduced cost structure as utilization and pricing improve • Mid-cycle EBITDA from Canada (2014): $226 million (19% EBITDA margin) • Peak EBITDA from Canada: $465 million . Equipment attrition and service intensity will improve recovery . Substantial leverage on lower costs 15 GROWTH . We will focus on: • Being on leading edge of cost and operational efficiencies • Achieving cost advantages through size and scale in Canada • Separating ourselves through safety, technology, service quality and innovation . Will explore adding or growing additional service lines in Canada 16 ADDITIONAL GROWTH . Retained ownership in Keane allows us to participate in U.S. recovery . 10% ownership in Keane Group with potential increased ownership from certain economic conditions upon liquidity event • Keane announced pricing of its IPO on January 20, 2017 • Trican received an initial distribution totaling approximately CAD $37.8 million • Trican maintains significant residual value in remaining common stock of Keane and measurable value is dependent on timing and share price of any further liquidating events 17 ADDITIONAL GROWTH . Non-compete in U.S. until April 2018 and first right to purchase the Keane business should we decide to re-enter the U.S. Trican will license our technology in U.S. and International markets • Licensed one sand supplier in North America . Trican has sold its 558,221 shares in NOV (and will realize net proceeds of approximately CAD $28.5 million 18 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 • Signed one license in U.S. with sand supplier and pursuing additional licenses 20 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 • Results in increased production without further well intervention 21 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 22 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. 23 FINANCIAL OVERVIEW AS OF SEPTEMBER 30, 2016 Outstanding Senior Notes - Post Equity and TCS Sale . $125 million drawn on $250 (Shown in $CAD) million revolving credit facility $40,000,000 $35,000,000 . $250 million revolving credit facility is committed until 2018 $30,000,000 • Max utilization capped at $25,000,000 $175 million until the first $20,000,000 quarter in which $25 million in EBITDA is reached $15,000,000 $10,000,000 . $77 million of Senior Notes $5,000,000 $0 . Net debt of approximately Nov Apr 2019 2020 Apr 2022 2023 Sept $175 million (net of cash and 2017 2018 2021 2024 currency swaps) USD Notes (hedged) USD Notes (unhedged) CAD Notes 25 COVENANT RELIEF . Amended covenants put Trican in a strong position to ride out the downturn . All financial covenants eliminated until 2017 . Leverage covenant of 5x and interest coverage of 2x will start in 2017 and will be calculated in Q1 as four times Q1 EBITDA plus $20 million 26 COVENANT RELIEF . $20 million equity cure will be added to 2017 EBITDA . LTM calculations will not commence until Q4 2017 . Normalized covenant of 3x Debt/EBITDA by Q1 2018 27 CASH FLOW . Managing cash flow and liquidity a key focus . Dividend
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