INVESTOR PRESENTATION November 2020 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 ENIVORNMENT, SOCIAL AND GOVERNANCE

Our current core focus areas in relation to ESG:

Safety People Development Environment

. Our frontline workers face dangers that are . Since 2017 we have invested over 200,000 . Trican and its customers are subject to not typical in most office workplace hours of training time into our people strict environmental regulation and environments; therefore it is imperative we compliance. remain committed to safety. . To provide a safe and productive work environment that results in quality service . We have a system of governance to ensure . A common measure for our safety is training our people compliance of environmental rules and performance is Lost Time Injury Rate regulations (LTIR) . A majority of our operational people are required to be trained as Class 1 driver . Trican has product offering to reduce fresh . During the past 12 months, our LTIR rate trainers water consumption while not impacting well has dropped by nearly 50% productivity . Trican’s driver trainer program has allowed us to maintain our driver trainer status . Trican has the largest fleet of dual fuel despite significantly increased regulations fracturing pumps. Dual fuel fracturing pumps provide several benefits to our . Investment into our lean six sigma customers and the environment, including efficiency program will see a number of our 27% reduced GHGs (source: U.S. EIA) people positioned to receive their green belt. Our people and our shareholders will . Investment into tractor-less operations will see the benefit of our lean initiatives reduce engine idle times, fuel consumption and therefore GHGs

3 WHAT WE DO

. Trican has been servicing wells in western for more than 24 years Drilling Completion Cycle Cycle . Focused in Canada, our highly Cementing Fracturing trained workforce is dedicated Services Coil Tubing to achieving safe operational excellence

. We provide specialized products and services using Full Cycle Production equipment required for the Technical Cycle exploration and development Expertise Customer Coil Tubing of oil and gas reserves Engineering Support Acidizing Reservoir Expertise Chemical Services . Trican service lines cover 60% Laboratory Services Remedial Cementing to 70% of a typical well cost

4 OUR STRATEGIC PRIORITIES REMAIN INTACT

Strengthen - Maintain market leading position in Fracturing and Cementing service lines Existing - Strengthen auxiliary service lines (Coiled Tubing) Business - Activate parked equipment (if return hurdles can be met)

- Growth in existing services lines Growth Disciplined investment into future growth – ensure ROIC hurdle rates are Achieve top met quartile ROIC

in our sector Share- - Return value to shareholders through share buyback program holder - Sell excess and permanently stranded capital equipment, return funds to Return the balance sheet

Cost Control & - Reduce costs for ourselves and our clients through efficiency improvements Efficiency and scale Gains

5 WESTERN CANADIAN SEDIMENTARY BASIN FOCUS

Market Leading Positions . Canadian market leader in fracturing

services (crewed HHP) Horn River Manitoba Shale FORT ST. JOHN . Canadian market leader in cementing Montney Shale services (based on rig count) GRANDE PRAIRIE Duvernay WHITECOURT Shale HINTON NISKU . Supporting service lines: coil tubing, RED DEER Viking nitrogen, acid Tight Deep ESTEVAN Oil Basin BROOKS . Trican service line offerings cover MEDICINE HAT approximately 60% to 70% of Cardium Lower Bakken Spearfish resource well AFE costs Tight Oil Shaunavon Shale Tight Oil

6 DIVERSIFIED SERVICE LINES

Q3 2020 Trailing 12 Month Revenues: Business Unit Breakdown

*Industrial *Fluid Services Management 1% 1% Other Market Leading Positions 4% Coil Services . Canadian market leader in fracturing services 7% (based on horsepower)

Cementing . Canadian market leader in cementing services 16% (based on drilling rigs serviced)

. Supporting service lines: coil tubing, nitrogen and acid Hydraulic Fracturing 70%

* Sold in 2020

7 FINANCIAL STRENGTH & RESILIENCY

Debt / Tangible Capital Strong Financial Position 0.60 $800 $700 0.50 . Low financial leverage: $600 0.40 $500 • September 30, 2020: Net cash of ~ $4 million, ~ $1 million 0.30 $400 $300 bank debt 0.20 $200

0.10 Total Debt (millions)

• Clean balance sheet allows us to survive the current Debt / Tangible Capital $100 downturn and for us to be in a strong position to take - $ advantage of growth opportunities Q1/15 Q3/15 Q1/16 Q3/16 Q1/17 Q3/17 Q1/18 Q3/18 Q1/19 Q3/19 Q1/20 Q3/20

Total Debt (RHS) Debt / Tangible Capital (LHS) . Monetizing stranded capital by selling permanently idled assets Canadian Results ($ millions) • Since 2017, sold $80 million of excess property and $1,200 equipment at values approximating net book value $1,000 • Asset sales of ~ $22 million, for the nine months ended $800 2020 $600 $400 . Positive non-cash working capital of ~ $49 million at, $200 $0 September 30, 2020 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Revenue Adjusted EBITDA See non-GAAP measure Adjusted EBITDA as more fully described in Trican’s MD&A.

8 DRIVING EFFICIENCY IN THE CANADIAN MARKET

. Large natural gas dual fuel fleet (146,600 HHP) to help reduce well costs and GHGs

. Introducing new technology to reduce tractors on location which will provide fuel savings, result in fewer engine hours, and reduce GHGs

. Implemented large bore treating iron, reducing repair and maintenance costs and improving rig-in time

. Implementing equipment monitoring technology that will reduce repairs and extend equipment life through data management

. Developed new cement blends to lower customers' costs

. Lowered fracturing product costs through implementation of new fluid systems • New high-viscosity friction reducers for fresh and produced water fluids • Nano surfactants to improve water flowback

9 CANADIAN INDUSTRY & TRICAN COMPETITIVE POSITIONING AVAILABLE CAPACITY

. Existing idle equipment provides opportunity for incremental returns upon a market recovery Service Line Total Active, Idled Equipment Manned • Substantial leverage on existing infrastructure and 260,000 312,400 Fracturing (HHP) 572,400 fixed cost structure upon recovery (4 fleets) (10 fleets) • Assets are well-maintained and not scavenged Cementing (trucks) 49 18 31 • Can be activated by adding staff with little capital Coil Tubing (units) 25 5 20 • Approximately 10 fracturing fleets parked

11 CANADIAN INDUSTRY - INCREASED WELL SERVICE INTENSITY

WCSB – Tonnes / Well WCSB – Wells Drilled 2,000 12,000 1,750 10,853 10,924 1,800 1,684 1,574 1,600 10,000 1,305 1,400 8,000 1,200 1,085 6,959 6,648 1,000 879 6,000 5,376 4,810 800 595 3,963 3,930 510 4,000 600 3,136 3,200 400 2,000 200 0 0 2013 2014 2015 2016 2017 2018 2019 2020 2013 2014 2015 2016 2017 2018 2019 2020E 2021E 2022E Source: GeoLogic. 1,123 wells currently captured for 2020 Source: Industry reports and internal estimates

. 2020 well count is estimated to be 35% below 2019 levels, with similar levels expected in 2021 . This reflects the significant decline in demand for oil and gas . 7,000 – 8,000 wells today equates to 2014 well count levels in terms of fracturing equipment demand . We continue to see an increase in well service intensity as pumping hours per day and proppant volumes per day continue to increase . Proppant placed has increased from 0.6 tonnes / meter in 2014 to 2.3 tonnes / meter in 2019

12 FRACTURING FLEET

. Most efficient style of fracturing pump, designed for higher intensity plays

• Montney, Duvernay and Deep Basin Fracturing Type of Pump Pump HHP % of (accounts for ~ 80% of the required Fleet (#) Fleet Continuous HHP demand in Canada) 2,700 / 3,000 HHP 126 347,400 60% Duty

. Large dual fuel fleet to offer fuel savings Mid Tier 2,500 HHP 90 225,000 40% • 53 bi-fuel frac pumpers, equates to Total 146,600 HHP Fracturing 217 572,400 Fleet

. Idle reduction technology on some of See MD&A for definition of Fracturing Fleet terms our frac pumpers, reducing fuel consumption and emissions

13 FRACTURING COMPETITIVE LANDSCAPE

CANADIAN CAPACITY Q4 2020 . Canadian competitive landscape more consolidated than U.S. market Hydraulic Capacity Active Fleets Horsepower Crewed (HHP) . Recent downturn dropped crewed fleets by Trican 572,400 260,000 4 ~ 50% in second half of 2020: Competitor A 279,000 174,000 3 • Crewed capacity estimated to be ~ 915,000 Competitor B 282,500 150,000 3 HHP and 18 crews Competitor C 170,000 50,000 1 . Supply continues to reduce and consolidate Competitor D 250,000 120,000 2 in Canada Competitor E 175,000 120,000 3

• Expect industry crewed capacity to be Competitor F* 100,000 50,000 1

reduced by ~ 250,000 HHP during 2020 Competitor G* 50,000 50,000 2

• Larger crew sizes from increased 1,878,900 974,000 19 concentration of Montney / Deep Basin / * Smaller crews not suitable for all higher intensity plays Duvernay completions Source: Competitor company reports, internal company data, and internal estimates

14 WELL SERVICES

Cement: Average Canadian Rig Count . Cement operations track very closely with the drilling 700

rig activity 600 . Longer laterals have increased cement requirements 500 400 . Historically generated positive return on capital, 300 despite recent market challenges 200

Coil: 100 0 . Adjusting business to current market 2012 2013 2014 2015 2016 2017 2018 2019 2020 3 Month Average 12 Month Average . Have 20 more units to add back into the market with Source: Baker Hughes GE Rig Count little to no capital investment required

15 ALIGNING COST STRUCTURE TO NEW CANADIAN MARKET

. We will continue to align our business to the changes in the Canadian market and lower our costs accordingly: • Reduced fixed personnel costs by over 55% since Q1/20 • Parked half of our active equipment • Lowered capital spending to essential maintenance capital: estimated to be 3% - 4% of revenue going forward • Continue to adjust the size of operations and our cost structure to match market conditions to ensure positive operating cash flow • Implemented $40 million of annualized cost reductions during 2019

16 FINDING WAYS TO RETURN MONEY TO SHAREHOLDERS

. Since 2006, Trican has returned $416 Dividends and Share Repurchases, 2006 - 2020 million to shareholders 120,000 450,000 Cumulative NCIB (RHS) 400,000 . Focused on finding ways to return funds 100,000 Cumulative Dividend (RHS) 350,000 to shareholders Total Annual (LHS) 80,000 300,000 Total Cumulative (RHS) • Have been actively purchasing shares 250,000 60,000 under our current NCIB 200,000 • Have spent over $190 million 40,000 150,000 repurchasing approximately 25% of the 100,000 20,000 Company’s shares since October 2017 50,000 • Current market dynamics support share - - repurchases as the best way to invest our capital

17 NEAR-TERM OUTLOOK & INVESTMENT SUMMARY OUTLOOK FOR WINTER 2020-21

. Customers will adjust spending as commodity prices change • Each customer will adjust differently

. Trican will activate additional equipment as demand increases

. Pricing at levels that will not allow us to give many price breaks

. Will activate additional equipment only if economic returns are possible

19 INVESTMENT SUMMARY

• ROIC and capital • Largest Canadian • Equipment capacity discipline focused pressure pumping provides opportunity company with broad for incremental • Operating efficiencies service offering returns upon a will drive free cash market recovery flow and profitability • Strong, loyal customer base • Financial position for • No growth capex opportunistic growth without returns • Low debt positions Trican to withstand • Low capex required • Positioned to near-term weakness to grow business return money to

RETURNS shareholders • Strong asset • Very little customer STRENGTH coverage growth required to balance market OPPORTUNITY

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