INVESTOR PRESENTATION March 2016

FORWARD LOOKING STATEMENTS

2

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.

OVERVIEW OF TRICAN - CURRENT

Full service, Canadian pressure pumping company

440,000 HP available fracturing capacity

Completions Tools business active in North America, Norway and Russia

Focus on safety, technology, and operational performance

3

Revenue by Service Line

Fracturing

Cementing

Nitrogen

Coiled Tubing

Acid & Specialty Chemicals

Industrial & Pipeline Services

YEAR TO DATE DECEMBER 31, 2015

67%

17%

9% 2% 3% 2%

SALE OF U.S. BUSINESS

645,000 HP fracturing equipment

14 Cementing units

7 Coiled Tubing units

Property, personnel, and ongoing work commitments

4

SALE OF U.S. BUSINESS

Sold to Keane Group

Approximately $285 million (CAD) cash

10% retained ownership in Keane

Potential 20% upside from certain economic interests upon Keane liquidity event

Total transaction value between $352 and $405 million (CAD)

5

SALE OF U.S. BUSINESS

Trican retains ownership of technology

Keane has a non-exclusive license to Trican technology

Trican will market certain technology to others in U.S. and to markets in which we no longer have equipment

Expected closing: March 15, 2016

6

DEBT REDUCTION AND COVENANT RELIEF

Proceeds from U.S. sale will be used to pay down debt

Debt post transaction of approximately $235 million

$140 million of long-term notes

$95 million drawn on $308 million revolver

Will continue to explore further debt reduction

7

COVENANT RELIEF

Amended covenants allow Trican to ride out the downturn

All financial covenants eliminated until Q3 2016

Leverage covenant of 5x and interest coverage of 2x will start in Q3 and will be calculated in Q3 as four times Q3 EBITDA

8

COVENANT RELIEF

LTM calculations will not commence until Q2 2017

Normalized covenant of 3x Debt/EBITDA by Q1 2018

Equity cure provision allows us to apply 50% of any equity raise towards EBITDA in covenant calculations

Equity cure can be used twice per year up to a maximum of $20 million

9

U.S. SALE - STRATEGIC RATIONALE

Covenant relief and strengthened balance sheet puts Trican in a strong position to weather the downturn

Fair deal in this market • $546 to $628 / HP • 67% to 77% of PPE

Retained ownership allows us to participate in U.S. recovery

Combined Trican-Keane will have lower cost structure and good balance sheet to ride out the downturn and size to compete in U.S. going forward

10

U.S. SALE - STRATEGIC RATIONALE

Keane intends to continue to grow the business to be a major player in the U.S. market

Trican has a 2-year non-compete and first right to purchase the business should we decide to re-enter the U.S.

Trican technology and engineering will augment Keane’s operations

Trican will license our technology to others going forward

Allows Trican to focus on our core markets

11

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)

13

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

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

CANADA

Strong safety record

Technical advantage in Canadian market which pays off in downturn

• MVP FracTM system

• 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

14

GEOGRAPHIC COVERAGE

15

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

CANADA EQUIPMENT

Current available Canadian fleet

• 440,000 fracturing HP

• 55 Cementing units

• 38 N2 Pumpers

• 19 Acid Units

• 16 Coil Units

16

* 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 2016*

Canadian HP Growth

CANADA - OUTLOOK

35% of equipment parked during 2015

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 30% from 2014 peak levels

Customer base strong

Cost cutting measures have substantially improved second half results in 2015

• Still working on additional cost savings

17

CANADA - OUTLOOK

Utilization below expectations in Q1 (70%)

A warm March could hurt quarter

Pricing down in Q1 2016

Q2 2016 slow due to normal spring breakup

Poor visibility at this time on Q3 2016 • No adjustments up or down

Anticipate slower Q3 2016 vs. previous year

18

CANADA - COST REDUCTIONS

Reduce active fleets to match Q3 anticipated activity

Exploring closing locations

Reduce fixed costs further to match size of market

Significant reductions in corporate costs as business becomes Canadian-focused

19

COMPLETION TOOLS

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

21

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

2016 demand still challenged in North America and anticipate continued strong performance in Norway and Russia

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 • Currently working with potential

buyers

22

GETTING THROUGH THE DOWNTURN

GETTING THROUGH THE DOWNTURN

Improve balance sheet

Keep utilization high and costs low in remaining operations

Reduce fixed costs as business centralizes to Canada

Maintain customer relationships

Provide differentiating safety, efficiency and technology

24

POSITIVES AFTER THE DOWNTURN

Competitive landscape changing

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

• Competitive landscape will change

- Smaller competitors struggling to survive

- Mergers of mid-sized companies improves market

- Equipment attrition will be significant

25

Strong earnings on reduced cost structure as utilization and pricing improve

COMING OUT OF THE DOWNTURN

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

and operational efficiencies

• Achieving cost advantages through size and scale in Canada

• 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

26

Will look to expand service lines in Canada upon recovery to leverage on our strong business

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

28

• Recent case studies show 20% increased production in the Cardium and 30% increased production in the Montney

• Will market MVP in US and other regions

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

29

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

30

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.

31

FINANCIAL OVERVIEW

POST USA BALANCE SHEET

Net book value of assets approximately $475 million

$115 million drawn on $306 million revolving credit facility

$306 million revolving credit facility is committed until 2018

• Max utilization capped at $175 million until Q3 2016

$142 million of notes • $43 million is due in April 2016 • All note amounts are net of

currency swaps

33

CASH FLOW

Managing cash flow and liquidity a key focus in 2016

Dividend suspended until financial performance improves

Total capital spend in 2016 expected to be approximately $20 million

• No expansion initiatives will be considered until financial performance improves

34

INVESTMENT ADVANTAGES

Trading substantially below book value

Significant earnings potential on existing assets

High leverage on low cost structure coming out of downturn

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

35

SUMMARY

Number of Outstanding Shares (as of February 29, 2016):

• 148.9 million

Average Daily Volume (one month period):

• 859,559 (as of February 29, 2016)

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

Market Cap: • $198 million as of February 29, 2016

36

INVESTOR PRESENTATION March 2016