Investor Presentation - Trican Well Service...• Market share growth • Anticipate stable 2015 demand Middle East • Started coiled tubing operations in Q2 2014 • Looking to add

Investor Presentation July 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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45%

42%

13%

OVERVIEW OF TRICAN

Large, international, full service pressure pumping company

1,193,000 HP available fracturing capacity

94 Cement & 37 Acid Units

35 Coiled Tubing & 72 N2 Units

Focus on safety, technology, and operational performance

Revenue by Geography

International

USA

Canada

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Revenue by Service Line

79%

11%

4% 3% 2% 1%

Cementing

Fracturing

Nitrogen

Acid & Specialty Chemicals

Coiled Tubing

Industrial & Pipeline Services

YEAR ENDING DECEMBER 31, 2014

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

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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

Available HP: 440,000

Parked HP: 150,000

Active HP: 290,000

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CANADA - OUTLOOK

2015 well count expected to be down by roughly 50% compared to 2014 and 37% compared to 2009*

Trican activity will not be down the full 50%

35% of equipment expected to remain parked during 2015; anticipated to keep remaining equipment highly utilized

Pricing expected to be down 20% off Q4 levels

Customer base strong – have had some market share improvements

Cost cutting measures will improve second half results; still working on additional product cost savings

* Per PSAC Canadian Drilling Activity Forecast – April 30, 2015

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CANADA – COST CUTTING

Product costs • Largest element of cost structure

• Have achieved 10.5% reduction to date

• Targeting 15-20% reductions to match our pricing declines

People • Have reduced Canadian employee base by 35%

• Salary and benefits reductions of 25%

• Expected annual fixed cost reductions of $50m

Other • Implemented significant cost cutting measures

for all other costs

Will right size fleet to maximize profits

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USA

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HOUSTON

MATHIS

GEOGRAPHIC COVERAGE - FRACTURING

Barnett: 1 crew Eagle Ford: 1 crews

Permian: 2 crews Oklahoma: 1 crew

Marcellus: 3 crews Current Active HP: 330,000

Bakken MINOT

Utica

Marcellus

ODESSA

Permian

SHAWNEE

Mid-Con

SPRINGTOWN

Barnett

Eagle Ford

Current Active US Crews

Current Parked HP: 315,000

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USA – OUTLOOK

U.S. rig count down 53% from peak

Pricing stabilizing - down 25% from peak

Expect to operate 50% of available equipment over the remainder of 2015

Utilization forecasted to improve in June and July; still need additional utilization improvements

Significant cost cutting measures expected to favorable impact profitability in second half

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US - COST CUTTING

Product costs • Have achieved 12% reduction to date

• Targeting 15-20% reductions to match our pricing declines

People • Have reduced us employee base by

55%

• Salary reductions of 10%

• Expected annual fixed cost reductions of $55m

Other • Implemented significant cost cutting measures for all other costs

Will right size fleet to generate positive cash flow • Need to run high utilization on active fleet to maximize profitability

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CORPORATE - COST CUTTING

People Costs Salary and benefits reductions

• Salary reductions of 10%

• Temporary suspension of certain benefits

Reduced Corporate employee base by 15%

Total annualized cost reductions of $10m

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Other Implemented significant cost cutting measures for all other Corporate expenses

Discretionary spending down over 50%

RUSSIA

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POTENTIAL SALE OF RUSSIA & KAZAKHSTAN

Currently involved in negotiations to sell Russia and Kazakhstan pressure pumping business

We believe a sale would be in the best interest of shareholders if a fair valuation is obtained

Timing and completion of a deal is uncertain but moving at a good pace

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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%

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RUSSIA AND THE FSU

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NOVY URENGOY GUBKINSKY

RADUZHNY

NIZHNEVARTOVSK

NYAGAN

NEFTEYUGANSK

KRASNOYARSK

IRKUTSK

KUEDA VCNG

MOSCOW

EAST SIBERIA VOLGO-URALS

CAUCASUS

ARCTIC SHELF (BARENTS, PECHORA, KARA SEA)

CASPIAN OFFSHORE

OTHER REGIONS OF WEST SIBERIA

Traditional regions for oil production Regions of growth Representative Office Operational Base

RUSSIA - 2015

Strong technical and operational business

Activity up year-over-year; fully utilized

Russia/Ukraine conflict has not caused any operational disruptions thus far; will continue to monitor effects of sanctions

Ruble decline will impact Canadian dollar revenue by 40% – 50%

• Most costs in Rubles so no appreciable drop in margin percentages

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INTERNATIONAL

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INTERNATIONAL

Australia • Cement and environmental

services

• Slow 2015 with drop in commodity prices

• LNG driven gas market

• Currently bidding on 2015 cement work with large producers

Kazakhstan • Fracturing services • Decline in 2015 due to oil price

drop

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INTERNATIONAL

Norway • Completion tools only

• Strong acceptance of completion tool technology in North Sea

• Market share growth

• Anticipate stable 2015 demand

Middle East • Started coiled tubing operations in

Q2 2014

• Looking to add additional contracts in 2015

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AFTER THE DOWNTURN

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POSITIVES AFTER THE DOWNTURN

The importance of the services we provide to the industry

• Well completions costs (primarily fracturing) represent 50% of total well costs

• Big North American oil and gas plays cannot be developed without fracturing

• When commodity prices recover, our services will be in demand

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Trican’s reduced cost structure • Will allow us to generate substantial earnings growth once demand improves

POSITIVES AFTER THE DOWNTURN

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 markets

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POSITIVES AFTER THE DOWNTURN

Cyclicality of the business • Falls quickly but also recovers quickly

• Current trends are pointing to a 2016 recovery

- Production decline rates – anywhere from 30% to 70%

- Unprecedented North American rig count decline will lead to a drop in production

- Global oil demand rising faster than expected

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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 early out of the downturn

Industry does not need $100 WTI to generate acceptable returns

• Many wells were economic at $75 WTI prior to the downturn

• Adjusted cost structure significantly lowers the WTI price necessary to generate acceptable returns

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North American pressure pumping market will be very competitive

• Unlikely to see 1900 active rigs in the U.S. in near future

We will focus on: • Be on the leading edge of cost and

operational efficiencies • Achieve cost advantages through

size and scale in active regions • Be able to separate ourselves

through technology and innovation

CHANGES TO PRESSURE PUMPING

Long term, need to lower cost to producers without lowering our margins • More efficient, lower cost fracturing business through equipment designs and

reductions in people

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INNOVATION

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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;

• 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

• Currently testing this product with Canadian customers

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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

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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

• Developed Bakken market using recycled water solutions

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FINANCIAL OVERVIEW

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DEBT STRUCTURE

Current outstanding and available debt at March 31, 2015

• $460 million in fixed rate notes payable - $120m due in April 2016

• $282 million drawn on revolving credit facility

• $354 million of cash and available debt

Based on current forecasts there is a high risk of a debt covenant breach in Q3/Q4 2015

• Currently in negotiations with all lenders to modify lending agreements

• Confident that an amendment will be in place prior to any covenant breach

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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 $40 to $50 million • No expansion initiatives will be considered

until financial performance improves

Working capital release in 2015 expected to provide significant cash inflows • Working capital reduction of $97m in Q1

2015

CASH FLOW

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INVESTMENT ADVANTAGES

Significant earnings potential on existing assets

Low capital expenditures in 2015 and 2016

Free cash flow

Strong Canadian business that historically weathers the storm

Strong management team that has managed through numerous cycles

Geographical diversification

Focus on cost control

High leverage on low cost structure coming out of downturn

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SUMMARY

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

• 148.9 million

Average Daily Volume (one month period): • 770,221 (as of June 30, 2015)

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

Market Cap: • $618 Million as of June 30, 2015

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Investor Presentation July 2015