Investor Presentation March 2015 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 . Large, world-wide, full service REVENUE BY GEOGRAPHY pressure pumping company Year ending December 31, 2014 International . International 13% Canada • Russia (majority) 45% • Kazakhstan • Australia • Norway USA • Saudi Arabia 42% 3 TRICAN STRENGTHS 4 TRICAN STRENGTHS . Focus on safety, technology, and operational performance Historical Fracturing HP . Significant earnings potential on 1,400,000 1,200,000 existing assets 1,000,000 800,000 . 1,193,000 HP available 600,000 fracturing capacity 400,000 • 280,000 HP currently idle 200,000 0 2007 2008 2009 2010 2011 2012 2013 2014 2015* . 94 Cement & 37 Acid Units * Expected horsepower based on current capital budget. 35 Coiled Tubing & 72 N2 Units 5 TRICAN STRENGTHS . Our people are our strength – 6,000 skilled employees worldwide . Named one of Canada’s Top Employers for Young People for 2013, one of Canada’s Top Employers for 2014 and 2015, and one of Canada’s Top Family Friendly Employers for 2014 . Hiring and training people are key to growth . Total hours of training for new hire orientation and upgrading over the last 11 years: 1,431,369 6 STRENGTHS – FULL SERVICES Service Line % of 2014 Revenue (at December 31, 2014) Fracturing 79% Cementing 11% Nitrogen 4% Coiled Tubing 3% Acidizing & Specialty 2% Chemicals Industrial & Pipeline 1% Services 7 COMPETITIVE ADVANTAGES . Customer-focused provider of technical solutions • Separate ourselves with technology • Named one of Canada’s top 100 Corporate R&D spenders in 2012, 2013 and 2014 (by Research Infosource Inc.) • Product development is a quick, customer-focused process • Strong regional technical teams that understand the customers’ needs . Operational excellence 8 AREAS OF OPERATION . Canada . United States . Russia . Kazakhstan . Norway . Australia . Saudi Arabia 9 CANADA 10 GEOGRAPHIC COVERAGE Horn River FORT NELSON HIGH LEVEL Shale British Columbia Alberta Saskatchewan Manitoba Montney FORT ST. JOHN Shale RED EARTH GRANDE PRAIRIE Duvernay WHITECOURT Shale HINTON NISKU LLOYDMINSTER DRAYTON VALLEY Viking RED DEER PROVOST DRUMHELLER Tight Oil Tight Gas CALGARY BRANDON BROOKS ESTEVAN MEDICINE HAT Bakken Spearfish Cardium Lower Shaunavon Shale Tight Oil Tight Oil 11 CANADA EQUIPMENT . Current Available Canadian fleet Canadian HP Growth • 440,000 fracturing HP 450,000 400,000 • 55 Cementing units 350,000 300,000 • 38 N2 Pumpers 250,000 200,000 • 19 Acid Units 150,000 100,000 • 16 Coil Units 50,000 0 2008 2009 2010 2011 2012 2013 2014 2015* . Expect to park 20% – 25% of total * Anticipated HP at year-end based on approved fleet by the end of Q1 2015 budgets, which are subject to change 12 CANADA - OUTLOOK . Strong activity in early Q1 2015 but slowing down significantly in March . Expect pricing drop of 10% in Q1 2015; pressure throughout 2015 . Spring break-up expected to start early and end late . Substantial activity drop in second half of 2015 as customers’ cash flows are reduced . Well positioned with a number of clients in all major growth regions . Technical and operational strength will protect customer base 13 USA 14 GEOGRAPHIC COVERAGE - FRACTURING MINOT Bakken Marcellus Mid-Con Utica Barnett . Barnett: 1 crew . Eagle Ford: 1 crews . Permian: 3 crews SHAWNEE . Oklahoma: 1 crew SPRINGTOWN . Marcellus: 4 crews ODESSA . Bakken: 1 crews HOUSTON . Permian Current active USA HP: 465,000 MATHIS Eagle Ford 15 USA EQUIPMENT . Current active U.S. fleet • 465,000 fracturing HP • 9 Cement units • 10 Acid units • 6 Coil units • 11 N2 units . Parked 4 Fracturing crews in Q1 • Permian, Eagle Ford, Bakken, Haynesville • 150,000 HP 16 USA – OUTLOOK . Rig count will drop throughout 2015 . Expect pricing decline of 15% – 20% . Will reduce costs and size of operations as required . Strong management team and lower cost structure than last downturn 17 COST CONTROL . Initiated significant cost control measures in late 2014 . Salary reduction effective Feb. 1, 2015 • $28m in expected savings . Negotiating cost reductions with all North American suppliers • Targeting 10%-15% savings . Reduced people and infrastructure to match drop in active equipment • Reduced North American staff by approximately 30% . Will continue to right size North American operations based on demand 18 RUSSIA 19 RUSSIA AND THE FSU . Started operations in 2000 . One of the largest fracturing companies in Russia . Primarily work on oil wells . All work is on 1 or 3 year contracts . Services: • Fracturing 88% • Coiled Tubing 6% • Cementing 4% • Nitrogen 2% 20 RUSSIA AND THE FSU ARCTIC SHELF (BARENTS, PECHORA, KARA SEA) Traditional regions for oil production Regions of growth Operational Base NOVY URENGOY Representative Office MOSCOW GUBKINSKY NYAGAN KUEDA RADUZHNY VCNG NEFTEYUGANSK NIZHNEVARTOVSK VOLGO-URALS OTHER REGIONS OF WEST SIBERIA EAST SIBERIA CASPIAN KRASNOYARSK OFFSHORE IRKUTSK CAUCASUS 21 RUSSIA - 2015 . Strong technical and operational business . Future growth in Eastern Siberia to fill new Chinese pipeline . Russia/Ukraine conflict has not caused any operational disruptions thus far; will continue to monitor effects of sanctions . 2015 tendering complete • Slight increase in year-over-year activity . Ruble decline will impact Canadian dollar revenue by 40% – 50% • Most costs in Rubles so no appreciable drop in margin percentages 22 INTERNATIONAL 23 INTERNATIONAL . Australia • Cement and environmental services • Slow first half of 2015 with growth in second half • LNG driven gas market . Kazakhstan • Fracturing services • Good profitability • Looking for growth opportunities 24 INTERNATIONAL . Norway • Completion tools only • Strong acceptance of completion tool technology in North Sea • Anticipate stable 2015 demand . Middle East • Started coiled tubing operations in Q2 2014 • Looking to add additional contracts in 2015 . Colombia • Suspended operations in early 2015 25 INNOVATION 26 INNOVATION . Trican focuses on separating itself with technology . MVP FracTM • Patented chemical solution that reduces proppant settling in slick water fracs • Strong market acceptance in Canada; looking to expand into other regions • MVP FracTM used in 20% of all wells fractured by Trican in Canada in 2014: up 100% vs. 2013; approximately $200 million in frac revenue • Recent case studies show 20% increased production in the Cardium and 30% increased production in the Montney 27 COMPLETION TOOLS . Operations in Norway, 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 . Strong year-over-year growth in 2014 . 2015 demand will be impacted by low oil prices but have market share opportunities 28 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 29 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 • Developed Bakken market using recycled water solutions 30 FINANCIAL OVERVIEW 31 DEBT STRUCTURE . Industry leading debt structure • Mix of variable and fixed rate • Low cost – average rate of 5.2% on notes • Balanced maturity dates ranging from 2016 to 2021 . Current outstanding and available debt at December 31, 2014 • USD $300 million and CAD $80 million in fixed rate notes payable - A portion of the USD notes are hedged • CAD $575 million revolving credit facility • $300 million of cash and available debt 32 CASH FLOW . Managing cash flow and balance sheet a key focus in 2015 . Dividend of $0.30/year . Total capital spend for 2015 expected to be $50 to $60 million . Working capital release in 2015 expected to provide significant cash inflows . Will pay down debt in first half of 2015 33 INVESTMENT ADVANTAGES . Significant earnings potential on existing assets . Low capital expenditures in 2015 . Strong Canadian business that historically weathers the storm . Strong management team that has managed through numerous cycles . Geographical diversification . Focus on cost control 34 SUMMARY . Number of Outstanding Shares (as of Feb. 27, 2015): • 148.9 million . Average Daily Volume (one month period): • 1,153,825 (as of February 27, 2015) . Directors/Officers Ownership: • 2.0% (approx. - diluted basis) . Market Cap: • $650 Million as of February 27, 2015 . Pay a semi-annual dividend of $0.15 per share 35 Investor Presentation March 2015 .