Investor Presentation November 2015

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.

FORWARD LOOKING STATEMENTS

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56% 44%

OVERVIEW OF TRICAN

Large, North American, full service pressure pumping company

1,083,500 HP available fracturing capacity

87 Cement & 37 Acid Units

29 Coiled Tubing & 61 N2 Units

Focus on safety, technology, and operational performance

Revenue by Geography

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Revenue by Service Line

79%

9%

4% 3% 2% 3%

USA

Canada

Cementing

Fracturing

Nitrogen

Acid & Specialty Chemicals

Coiled Tubing

Industrial & Pipeline Services

YEAR TO DATE SEPTEMBER 30, 2015

INTERNATIONAL

Closed sale of Russian business for $195 million CDN

• Includes first tranche of working capital adjustment

• Sold for 6.4x 2014 EBITDA

Closed Saudi Arabia and Australia as scale not large enough to sustain International infrastructure

Kazakhstan sale in progress • Terms and conditions and Kazakhstan

anti-monopoly approval still to be completed

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OVERVIEW OF TRICAN

577,000 HP (53% of equipment) parked since 2014

• 35% parked in Canada • 62% now parked in USA

Equipment parked whole and not scavenged

Continue to maintain R&M expenditures during downturn

60,000 HP bi-fuel units

* Equipment after International divestures.

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

2007 2008 2009 2010 2011 2012 2013 2014 2015*

Historical Fracturing HP

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COMPETITIVE ADVANTAGES

Strong safety record • 2015 YTD injury frequency rate of 1.07

Operational performance • Efficiency saves clients money

Technology

• MVP Frac

• TriVertTM Diverting Agent

• Lightweight cements

• Recycled water

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CANADA

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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)

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Trican has a strong customer base in Canada • Numerous long-term clients

Canadian dollar to U.S. dollar exchange rate helps producer economics

Technical advantage in Canadian market which pays off in downturn

• 20% of fracturing work in 2014 done with MVP frac

• Geological and reservoir services integrated into frac designs

• Lightweight cement blends

• Numerous engineers embedded in client offices

• Technology retains and grows market share and improves returns in a downturn

Canadian Q3 operating margin: 19.3%

CANADA

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GEOGRAPHIC COVERAGE

Horn River Shale

Montney Shale

Bakken Shale

Cardium Tight Oil

Viking Tight Oil

Lower Shaunavon Tight Oil

HIGH LEVEL

RED EARTH

GRANDE PRAIRIE

WHITECOURT HINTON

FORT ST. JOHN

NISKU LLOYDMINSTER

RED DEER PROVOST DRUMHELLER

BROOKS

MEDICINE HAT

ESTEVAN

British Columbia Alberta Saskatchewan

FORT NELSON

Tight Gas

Duvernay Shale

DRAYTON VALLEY

CALGARY

Manitoba

BRANDON

Spearfish

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CANADA EQUIPMENT

Current available Canadian fleet

• 440,000 fracturing HP

• 55 Cementing units

• 38 N2 Pumpers

• 19 Acid Units

• 16 Coil Units

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* Anticipated HP at year-end based on approved budgets, which are subject to change

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

500,000

2008 2009 2010 2011 2012 2013 2014 2015*

Canadian HP Growth

CANADA - OUTLOOK

35% of equipment parked during 2015; anticipate keeping remaining equipment highly utilized

85% of remaining equipment committed to year-end

Parked equipment ring fenced and ready to go to work when activity improves

Will right size fleet up or down to maximize utilization and profits

Pricing down 25% off 2014 peak levels

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CANADA - OUTLOOK

Customer base strong – have had market share improvements

Cost cutting measures have substantially improved second half results; still working on additional cost savings

Strong activity in October and November with anticipated holiday slowdown in December

Customers anticipated plans for Q1 2016 look strong at this time

• Core customers remaining busy in 2016

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CANADA – COST CUTTING

Product Costs • Largest element of cost structure • Have achieved 10-15% reduction

People • Have reduced Canadian employee base by 45%

• Total salary and benefits cost reduced by 57%

• Expected annual fixed cost reductions of $86 million

Other • Implemented significant cost cutting measures for

all other costs

Fixed costs reduced 42% year-over-year

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USA

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HOUSTON

MATHIS

GEOGRAPHIC COVERAGE - FRACTURING

Oklahoma: 2 crew

Marcellus: 4 crews Current Active HP: 217,500

Bakken MINOT

Utica

Marcellus

ODESSA

Permian

SHAWNEE

Mid-Con

SPRINGTOWN

Barnett

Eagle Ford

Current Active US Crews

Current Parked HP: 427,500

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Cement and Coiled Tubing services in the Permian and Eagle Ford

USA – OUTLOOK

Pricing stabilizing - down approximately 30% from peak

Shut down 2 fracturing crews in Texas in October resulting in additional cost savings • Cost savings of approximately $4 million per

quarter

Expect to operate 35% of available equipment over the remainder of 2015 and 2016 (6 of 6 fracturing crews) • 5 of 6 crews committed to Q2 2016 • 4 of 6 crews committed to 2017 • One spot market crew in Marcellus

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USA – OUTLOOK

Anticipate a slowdown in December

Anticipate Q1 2016 activity to be strong on committed crews based on current customer plans • Will continue to monitor customer

programs and adjust equipment up or down

Competitive landscape improving as less equipment available

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US - COST CUTTING

Product costs • Have achieved 15-25% reduction to date

People • Have reduced employee base by 60%

• Salary reductions of 10% on remaining employees

• Expected annual fixed cost reductions of $76 million

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Equipment • Repair costs have not declined on a $/HP basis as we continue to maintain

equipment

• Parked equipment ring fenced and available to go to work

Fixed costs reduced 51% year-over-year and 16% sequentially

CORPORATE - COST CUTTING

People Costs • Salary and benefits reductions

- Salary reductions of 10%

- Temporary suspension of certain benefits

• Reduced Corporate employee base by 40%

• Total annualized cost reductions of $24 million

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Other • Implemented significant cost cutting

measures for all other Corporate expenses

Corporate costs down 70% year-over-year

COMPLETION TOOLS

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COMPLETION TOOLS

Operations in Norway, Russia, 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

Grown Norwegian and Russian revenue and profitability in 2015 due to market share growth

2015 demand down in North America

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GETTING THROUGH THE DOWNTURN

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GETTING THROUGH THE DOWNTURN

Size operations to current activity levels

Lower costs

Keep utilization high on activated equipment

Work for the right customers

Maintain equipment

Provide differentiating safety, efficiency and technology

Increase scale in Basins to lower fixed costs

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STEPS TO MANAGE THE DOWNTURN

Sell Russia, Kazakhstan, and spare international equipment in closed regions

Maximize profitability and cash flow from remaining operations

• Canada doing well • Still working on improving U.S.

Continue to de-lever the balance sheet and work with lending group

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POSITIVES AFTER THE DOWNTURN

Strong earnings on reduced cost structure as utilization and pricing improve

Competitive landscape changing

• Baker-Halliburton merger will create opportunities in all of our markets

• U.S. competitive landscape will change

- Smaller competitors struggling to survive

- Mergers of mid-sized companies improves market

- Equipment attrition will be significant

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POSITIVES AFTER THE DOWNTURN

Substantial completions backlog

• Currently estimating over 4,500 drilled but uncompleted wells in the US market

• Bodes well for an increase in fracturing demand coming out of the downturn before drilling increases

Stage count/well and sand/stage continue to increase

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-

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15

Sand per Stage

Frac Stage Intensity

Source: Wall Street research, Pac West

We will focus on: • Being on the leading edge of cost

and operational efficiencies

• Achieving cost advantages through size and scale in active regions

• Separating ourselves through technology, safety, service quality and innovation

Long term, need to lower cost to producers without lowering our margins

• More efficient, lower cost fracturing business through equipment designs, technology and reductions in costs

COMING OUT OF THE DOWNTURN

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INNOVATION

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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

• 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

• Currently gaining market acceptance of system in U.S.

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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

• Expected to result in increased production without further well intervention

• Gaining good market acceptance in the U.S.

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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

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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.

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FINANCIAL OVERVIEW

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DEBT STRUCTURE

Current outstanding and available debt at November 20, 2015

• $368 million in fixed rate notes payable - $147 million due by April 2016

• $201 million drawn on revolving credit facility

• $225 million in cash and available debt as of November 20

New covenant agreement in place

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Managing cash flow and liquidity a key focus in 2015

Dividend suspended until financial performance improves

Total capital spend in 2015 expected to be approximately $30 million

• No expansion initiatives will be considered until financial performance improves

2016 Capex anticipated to be $30 million

CASH FLOW

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INVESTMENT ADVANTAGES

Trading substantially below book value

Significant earnings potential on existing assets

High leverage on low cost structure coming out of downturn

Low capital expenditures in 2015 and 2016

Free cash flow in 2015

Strong Canadian business that is generating industry leading margins

Strong management team that has managed through numerous cycles

Equipment base not scavenged and ready to go when activity increases

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SUMMARY

Number of Outstanding Shares (as of October 30, 2015):

• 148.9 million

Average Daily Volume (one month period): • 1,068,527 (as of October 30, 2015)

Directors/Officers Ownership: • 2.0% (approx. - diluted basis)

Market Cap: • $130 million as of October 30, 2015

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Investor Presentation November 2015