INVESTOR MEETING

Vancouver
May 10, 2018
Agenda

10:00 Welcome and Introduction Mauk Breukels,VP Investor Relations

10:05 Strategic Plan Scott Thomson, President & CEO
10:25 People Chad Hiley, CHRO
10:30 Finning Digital Dave Cummings, EVP & CIO
10:50 South America Marcello Marchese, President, Finning South America
11:10 Canada Juan Carlos Villegas, President, Finning Canada

11:30 Break

11:45 UK & Ireland Kevin Parkes, Managing Director, Finning UK & Ireland
11:55 Global Supply Chain Steve Nielsen, EVP & CFO
12:05 Financial Performance Steve Nielsen, EVP & CFO
12:15 Closing Remarks Scott Thomson, President & CEO

12:20 Q&A

2 Monetary amounts are in Canadian dollars and from continuing operations unless noted otherwise
Disclosures
Forward-looking information
This presentation includes “forward-looking information” (as defined in applicable Canadian securities legislation) that is based on
expectations, estimates and projections that management believes are reasonable as of the date of this presentation, but may
ultimately turn out to be incorrect.
Wherever possible, words such as “anticipate”, “believe”, “expect”, “intend”, “project”, “plan”, “forecast”, “opportunity”, “target”,
“potential” and similar words, as well as any number or year followed by “E” (which stands for “estimated”) have been used to
identify these forward-looking statements. Information in this presentation has been furnished for information only and is accurate at
the time of presentation on May 10, 2018, but may later be superseded by more current information. Except as required by law,
Finning does not undertake any obligation to update the information, whether as a result of new facts becoming known, future events
occurring or otherwise.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results,
performance or achievements of Finning to be materially different from any future results, performance or achievements expressed or
implied by the forward-looking information in this presentation. Important information identifying and describing such risks,
uncertainties and other factors is contained in Finning’s most recently filed annual information form (under the headings “Forward-
Looking Information” and “Key Business Risks”) and in the management’s discussion and analysis of financial results (MD&A) portions
of Finning’s most recent annual and quarterly financial reports (under the headings “Risk Factors and Management” and “Forward-
Looking Disclaimer”). These documents may be accessed on the Finning website at www.finning.com (in the financial reports section
on the Investors page) or the SEDAR website at www.sedar.com.

Non-GAAP financial measures

This presentation includes the following “non-GAAP financial measures”: “equipment backlog”, “inventory turns” and “ROIC” (return
on invested capital). These financial metrics do not have a standardized meaning under International Financial Reporting Standards
(IFRS) or Generally Accepted Accounting Principles (GAAP), and therefore may not be comparable to similar measures presented by
other issuers. For additional information regarding these financial metrics, including definitions and reconciliations from each of these
non-GAAP financial measures to their most directly comparable measure under GAAP, where available, see the heading “Description
of Non-GAAP Financial Measures and Reconciliations” in our most recent MD&A. Management believes that providing certain non-
GAAP financial measures provides users of the Company’s consolidated financial statements with important information regarding the
operational performance and related trends of the Company's business. By considering these measures in combination with the
comparable IFRS measures set out in the MD&A, management believes that users are provided a better overall understanding of the
Company's business and its financial performance during the relevant period than if they simply considered the IFRS measures alone.
3
STRATEGIC PLAN
Scott Thomson, President and CEO

INVESTOR MEETING
Vancouver, May 10, 2018
Improved Performance
2013 – 2017 Achievements 2017 ROIC and FCF
Parts and equipment EARNINGS
SUPPLY CHAIN CAPITAL
turns improvement TORQUE EFFICIENCIES
SERVICE
Canada service EBIT
EXCELLENCE

ASSET UTILIZATION Canada, UK & Ireland

Cost Control Supply Chain
Improvements
Operational Efficiency
MARKET Core equipment and
LEADERSHIP parts market share

Safety and Employee Engagement Customer Loyalty

Outstanding Safety Stronger Employee Continued

Performance Engagement Improvement
2013 to 2017

14 points

5
The Future - Megatrends

A Shift in Resource Data & Insights

Industry 4.0
Supply and Demand Driving Value
Emerging market demand Digitally enabled lean Smart Iron increasingly
with secure supply important

New Competitive A New

C2B
Landscape Societal Deal
Customer centricity
Opportunities to Sustainable operations and
critical
enhance customer stakeholder value creation
intimacy

6
 The Future – Macro-Economic Trends
Finning Region Macro-Economic Trends Infrastructure Spending (2018-2020)
 Oil sands – product support focus
WESTERN CANADA  Construction, power systems, C$55 billion
other mining – robust growth

 Copper mining recovery

CHILE US$12 billion
 Improved business confidence

 Improved investment climate

ARGENTINA US$20 billion
 Political risks remain

 Digital business
UK & IRELAND £95 billion
 Stable economy
Source: GI Hub

LNG Canada - $40 billion investment Vaca Muerta

PROJECTED OPPORTUNITY - 1.7 bcf/d

2019-2026

~300 Gas Prime and Well

US$ 7bn
Engines Compression Standby Service INVESTMENT
Power 2018-2021

~$300M Engines + Product Support

bcf/d – billion cubic feet per day
Source: BNA
7
Strategic Framework
PURPOSE VISION VALUES
We believe in partnering and Leveraging our global expertise and We are trusted
innovating to build and power insight, we are a trusted partner in We are collaborative
a better world. transforming our customers’ performance. We are innovative
We are passionate

GLOBAL STRATEGIC PRIORITIES

Customer Centricity

Lean & Agile Global Finning

Global Supply Chain

Digital Enterprise

Growth and Diversification

8
Investment Aligned with 2018-2020 Priorities

CUSTOMER DIGITAL GROWTH &

LEAN & AGILE SUPPLY CHAIN
CENTRICITY ENTERPRISE DIVERSIFICATION

Ultra-Class Omni-Channel Product Support

ERP
Mining e-commerce • Condition Monitoring
Vehicles • Data-driven Lead
• Autonomy Data Driven Generation
Decision Global Connected
• Electric Drive • Rebuild Opportunities
Making Supply Chain Assets
• Customer Support
• Forecast to Cash Agreements
Asset Light • Centralized
Procurement
Performance • Integrated Knowledge
RUN Footprint Solutions Centre
Strategy
CAT
Disciplined Data and
Complementary
Processes Analytics M&A
RUN - Rental, Used, New

9
Strong Alignment with Caterpillar

Exceptional
Customer Experience

OPACC Connectivity & Digital as ROIC

Product Support Drivers

Operational
Excellence

FOUNDATION

Safety / Talent / Sustainability

10
Safe, Talented and Inclusive Team
SAFETY
Total Recordable Injury Frequency (TRIF)

0.99

0.36

2013 2018 Mar YTD

TALENT INCLUSION
Executive Office Candidates Women on Board of Directors

1
2014
4
2018
1
2014
4
2018

11
Execution Velocity – Global Leverage
New operating model

5 YEARS AGO 2018 FORWARD

Finning
International Finning Shared
Canada Services

Finning
Finning International Finning
UK & Ireland Digital

Finning Finning Finning Finning

Canada South UK & South
America Ireland America

12
Value Creation

Outcomes
Transformed Sustainable Product Improved Operating and Attractive Opportunities
Customer Experience Support Growth Financial Performance to Grow and Diversify

13
PEOPLE
Chad Hiley, Chief Human Resources Officer

INVESTOR MEETING
Vancouver, May 10, 2018
Talent – Strengthened and Diversified Leadership Team
Number of Recruited Executives

7
6

1 3 year plan to develop leaders at all levels in the

organization with over 1,300 leaders to participate
2014 2015 2016 2017

Women in Leadership Roles (%) Employee Engagement Highlights 2017

2014 2017

26
23
20 19

13

Canada UK & Ireland South America

15
Broadening Safety and Sustainability

TRIF TIF Safety

+ Employee Health
+ Environment
 Widening the parameters of an injury with + Inclusive Workforce
the goal of preventing future incidents
 Attention to leading indicators – hazard
+ Community Investment
identifications and near misses
 Relentless focus on significant incidents
SUSTAINABILITY

TRIF: Canada Saskatchewan

6.4

2.1

0.94 0.88
0.56
0

2015 2016 2017

TRIF – Total Recordable Incident Frequency (recordable incidents per 200,000 hours)
TIF – Total Incident Frequency (incidents per 200,000 hours)

16
FINNING DIGITAL
Dave Cummings, EVP Digital and Technology

INVESTOR MEETING
Vancouver, May 10, 2018
 BUILT ON KNOWLEDGE & EXPERIENCE OF

85
YEARS
12,500
EMPLOYEES

Digital investment focused on strengthening the

differentiators of our existing business

Combination of Finning and new digital

capabilities creates value

18
Value Growth Enabled by Technology
Differentiators and role of digital and technology in
equipment industry have changed over time

Value Machine Machine Fleet Network

Driver Reliability Productivity Productivity Optimization
Robust product Equipment and Fleet-wide Analysis of large
and reliable parts operator visibility of assets data volumes,
and service performance customer insight
network monitoring

Enabler Quality design Onboard Low-cost sensors Analytics and

and service technologies and wireless Artificial
Intelligence
Status Mature Proven & growing Early adoption Emerging

19
Value Priorities
Creating Value for Customers and Generating Internal
Efficiency and Profitability

OUR PRIORITIES:
 Improving Customer Performance
 Use data to improve parts and service process
 Integrating data, equipment and customer knowledge
 Generating insights to deliver customer performance solutions
 Enhancing the Customer Experience
 Integrating physical & digital channels
 Increasing B2B purchase and fulfillment options
 Greater visibility and transparency on stock and delivery times
 Creating Internal Value
 Analytic sciences to create internal efficiency insights
 Data to insights for timely and improved decision making
 Digital innovation to reinvent our processes
 Improved working capital efficiency and profitability

20
Investing in Talent
Built a tightly integrated team of experts with industry sector,
geography, ethnic and gender diversity

35%
Ethnic Diversity
37%
Gender Diversity
70%
External Hires

AMAZON • AMEC • BUILD

12 20%
Languages Spanish
DIRECT • TRIMBLE • CAT •
HOOTSUITE • GE DIGITAL •
MICROSOFT • PWC • SAMSUNG •

18
SCHNEIDER ELECTRIC • SHAW •
SIERRA WIRELESS • TECK • TELUS
Nationalities • TOSHIBA • BC HYDRO •
VANCITY • VISION CRITICAL

Our team diversity reflects our Performing well above gender Talent sourced from tech,
international presence and diversity rates in the technology industrial and other sectors
customer base and industrial sectors where digital expertise exists

30%
Finning Expertise
Finning brings domain expertise (i.e. equipment, market and customer
expertise) as a critical ingredient in our overall team make-up

21
Investing in Technology
Invested in foundation of traditional information technology
and digital capabilities

Customer Experience Platform

Apps & Condition Performance Digital
Services Monitoring Solutions Finning

Data Assets Analytics Models Analytics Services & APIs

Finning Cloud - Analytics

Core Business Systems Customer Relationship Omni-Channel Connected Eco-System

CRM eCommerce Connecting

ERP Equipment
Customer
Segmentation Supply chain IoT Sensors
Human
Capital Digital Integrated
Management Data Sources
Quoting Procurement

GLOBALIZING AND MODERNIZING DIGITAL CAPABILITIES & IT INFRASTRUCTURE

22
 Path to Demonstrable Growth
Over last three years we have invested in digital – and grown
the key value performance metrics significantly

Digital Parts and Service Equipment Performance

Investments Digital Commerce Connectivity Solutions
Success Based Funding
MARKET FOCUS DRIFT UP EXPAND PARTNER
Performance Solutions Customer Share Services Deliver Outcomes

INTERNAL VALUE FOCUS LIFT CHANNEL DELIVER INSIGHTS ADVISE ON PERFORMANCE

Improve Core Processes Capabilities Data and Domain Driven Analyze & Recommend

BUILD DIGITAL ASSETS DRIVE PARTS CHANNEL SHIFT GET CONNECTED INFORM ON PERFORMANCE
“On the Edge” Talent, Connectivity Volume Online New & Retrofit (Cat and non-Cat) Visibility and Monitoring

Digital Investment Online Parts Connected Assets Performance Solutions

50 (CAD$M) % of addressable opportunity % of addressable population Revenue (CAD$M)
45 150
30.0%
40 80%
35
30 100
25
20 15.0% 40%
15 50
10
5
0 0.0% 0% 0
2016 2017 2018E 2019E 2015 2016 2017 2018E 2019E 2015 2016 2017 2018E 2019E 2015 2016 2017 2018E 2019E

23
 Digital Performance

2017 Year End Trajectory

23 employees who
~ $150m
registered
Web Sites 37% 25%
Online Lead
*
Consolidated
+270% Gender
Generation
(2017)
1
Diversity
Increase in Retro-fit
Global Finning Cloud Connections
Implemented

Parts.Cat.Com
Deployed in 50 45%
YoY growth in
All Regions
Parts Online
Diverse and Talented Digital Team Global Business

42% +$85m +50%

Connected Cat Assets YoY B2B Commerce Online Revenue
Growth (new and channel shift) Performance Solutions Revenue
(year end 2017)

24
SOUTH AMERICA
Marcello Marchese, President, Finning South America

INVESTOR MEETING
Vancouver, May 10, 2018
Chile and Argentina Infrastructure Opportunities
Road Infrastructure Investment Chile Road Infrastructure Investment Argentina
Source: Chilean Chamber of Construction Source: Argentina Government PPP program

US$ billion US$ billion

12 14
10 12
10
8
8
6
6
4
4
2 2
0 0
2013-2017 2018-2022 2013-2017 2018-2022

 Improved business confidence with new  Infrastructure investments expected to grow

government  Public Private Partnerships plan launched by
 Governmental plan for infrastructure and government – US$17 billion in 60 key projects
highway development  75% expected to be invested between 2018-2022

COMPETITIVE & EASY TO DO BUSINESS WITH

CUSTOMER PRIORITIES
INNOVATIVE SOLUTIONS
26
Argentina – Oil & Gas Activity Accelerates
# Wells Forecast in Argentina
Source: Argentina Chamber of Construction
2500

2000

Number of Wells
1500

1000

7bn
500

US$ 0
INVESTMENT 2017 2018 2019 2020 2021 2022

2018-2021
Source: BNA
Conventional Shale Tight

Finning well positioned:

infrastructure &
capabilities investments US$340M opportunity
for Finning

CUSTOMER PRIORITIES EXPERTISE & CAPABILITIES INTEGRAL SERVICES

27
Capturing Product Support Growth Opportunities

CSAs (customer support agreements) and Performance Solutions

 Increase POPs (parts sales as a percentage of total parts opportunity)
 Improve customer satisfaction
 Have large impact in construction markets

South America Construction CSA Opportunity South America Construction POPs

basis points
Current equipment population with CSAs 12% 25 23

Contract renewal rate 66% 20 18

15 13
New equipment sales with CSAs 47%
10

Number of CSAs at Dec 2016 4,500

5

0
Number of CSAs at Dec 2017 5,600 0
Not connected Add Add CSA Add
Connectivity Performance
Solutions

28
Capturing Product Support Growth Opportunities
 Leads and sales management process improvements using advanced technology
 Condition monitoring
 Digital and marketing automation
 Lead Generation Tool – in early phase of implementation
 Positive impact on product support growth

Lead Management Process Construction Product Support Revenue

2017 Results US$ indexed to 100 in 2014
120
Leads Assigned in CRM
110
Inside Sales Product Support
Representative Sales Representative
100
Lead Generation Tool
90
5,090 Signals
Identification & qualification 80
2014 2015 2016 2017 2018E
19%
985
Opportunities

42%
413
Sales

29
Key Growth Drivers

South America Equipment Backlog Rental

US$ million 2%
400 Mining
Power Systems
9% 60%
300

South America
200
Revenue
Q1 2018
100
Construction
29%
0
Dec-16 Dec-17 Mar-18

Infrastructure and Product Support Growth Copper Mining Recovery

Oil & Gas Opportunities Lead Generation Tool & CSAs Ultra-Class Truck
Business friendly governments Integrated Knowledge Centre Underground Mining

30
 Chile – Mining Recovery
Cu
Better copper prices Declining ore grades create underground opportunities

Better investment climate Over US$12bn underground projects under construction

Fraser Institute Mining Investment #39 #8

Attractiveness Index – Chile Ranking
2016 2017

Chile Copper Production (base scenario) Copper Production & Chile Product Support Revenue
Ton (thousand) fine copper New Projects US$ million Ton (million) fine copper

7,000 1,500 6.5

6,000 1,300
New Projects 6.0
5,000 Replacement & Expansion 1,100
4,000 Projects
900 5.5
3,000
700
2,000 5.0
500
1,000 Existing Projects
300 4.5
0 2011 2012 2013 2014 2015 2016 2017 2018E 2019E 2020E
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
Product Support Revenue Copper Production
Source: Cochilco 2017 Report

Copper production source: Cochilco 2017 Report, Alumbrera annual production

31
Positioned to Capture Growth in Mining

REACTIVE ACTIVE ANTICIPATE

DELIVERABLES Product Support Operational Performance

Predictive
Maintenance • From transaction to value-add
+
Mining Expertise • Data driven information: technology and autonomy
= • Improved equipment reliability and availability
Superior
Results • Optimized performance: lowest cost per ton
• Improved productivity: highest tons per hour

Ultra Class Opportunity

(est.) (>300 tons)
55

5 31 30

2018E 2019E 2020E

Brownfield Greenfield
32
Integrated Knowledge Centre

33
Integrated Knowledge Centre (IKC)
Reduces Cost and Improves Productivity/Safety for Mining Customers

CUSTOMER DIGITAL Data Driven

CENTRICITY ENTERPRISE Insights and Actions

Innovative Integrated
Process Models and
Technologies

Benefits
Operations
Best Practices

Maintenance
Best Practices
5-30% 3-7pts Additional 797
Caterpillar
Cost/Ton Truck Availability Orders
Reductions Improvements
Product
Improvement

34
Caterpillar 794 AC Electric Drive Truck Advantage
Best in Class Equipment & Operational Support to Reduce Cost per Ton

BIGGER FUEL
COMPETITIVE PAYLOAD EFFICIENT
ADVANTAGE SERVICEABILITY
FASTER Modular design; Parts
Superior braking commonality with mechanical
& control drive; All caterpillar components

EXCELLENT
PHYSICAL
SAFER AVAILABILITY

Experience To Date – Americas

12 operating
2018 Chile Investment: 4
trucks
Population 8 new
20 trucks

Number of customers 5

Hours accumulated 180,000 320

tons
Highest truck hours 33,000

Availability >90%

35
CANADA
Juan Carlos Villegas, President, Finning Canada

INVESTOR MEETING
Vancouver, May 10, 2018
Caterpillar Autonomy Solution

Superior Technology / Over 20% Productivity Improvement

SCALABLE
CUSTOMER ~100 trucks vs. 30 from competition FASTER
250+ auxiliary vs. 30 from competition than manned & competition
CENTRICITY
INTEROPERABLE
with manned & competitive fleets ADVANCED FLEET
PRODUCTION SYSTEM
RETROFIT CAPABILITY TODAY
Caterpillar 793 F and 797 F;
Komatsu 930-E4 DYNAMIC ASSIGNMENT
AUTOMATED FUELING TECHNOLOGY
superior to fixed assignment technology
not available from competition

Something for Every Mine Trend to autonomy:

SAFETY
AUTO REMOTE  Eliminate operator fatigue, distraction & training issues
ASSIST CONTROL
 Absolute control on truck path and speed
 Object detection system
SEMI- PRODUCTIVITY
AUTONOMOUS
AUTONOMOUS  Flexibility – work within existing operations
 Capacity – smart trucks
 Interoperability

37
Caterpillar Autonomous Truck

Caterpillar Global Autonomous Truck Population

6 Customers
250
200+ Caterpillar
200 supporting 

150
Largest
global 7Sites
114 * autonomous
100
55
76 population
by end of 2018 Competition 3 Customers
supporting 
6Sites
50 31
13
3
0
2012 2013 2014 2015 2016 2017 2018 E
* Competition 115 Trucks

Fortescue Solomon World’s Largest CAT Autonomous Truck

CAT Supported Autonomous Mine 2013-2017

Truck population 55 Material moved (tons) 700M+

Support equipment population 100+ Distance driven (kilometer) 25M+

Productivity improvement vs. manned fleet >20% Lost time injuries zero

38
 Finning Autonomy Trials

Finning – Canada
HAULING

Oil Sands – Imperial Oil 797F D11

Copper – Teck 793F D10

UNDERGROUND Steelmaking Coal – Teck D11

remote control dozer

Finning – South America

Underground Autonomous

Copper – El Teniente R1600H

DOZING
39
Mining Pivoting to Growth

Total Mining
Equipment Population 7,500
797 Population 310 Market share
Product
+110%

9
Mining
Average Age support
market size
(years)
Service (units)
profitability
Rebuild
Forecast
(2019 vs 2018)
3x 2018 vs 2017

797 Population by Age and Rebuilds

# of trucks
80

70

60

50

40

30

20

10

0
5 6 7 8 9 10 11 12 13 14 15
Age
Total - Original Total - Rebuilt
Original Rebuilt
40
 Construction Continues to Rebound in 2018

Market Size Service EBIT %

units
16,000
14,000
12,000
10,000 0%
8,000
6,000
4,000
2,000
0
2013 2014 2015 2016 2017 2018E 2013 2014 2015 2016 2017 2018E

Participation
70% 63%
59% 57%
60% 53%
50% 46%
38%
40%  Participation and share
30%
 Parts revenue
20%
10%  Service profitability
0%
2013 2014 2015 2016 2017 2018 FE  Industry growth in all provinces

41
Key Growth Drivers

Rental
Canada Equipment Backlog 3%
$ million
900 Power Systems Oil Sands
12% 35%

600
Canada Revenue
Q1 2018

300 Construction
24%

0 Coal & Metals Mining

Dec-16 Dec-17 Mar-18 25%

Leverage connectivity to Transform retail

Grow RUN sales using
drive insights and experience for
data-driven insights
parts share the mid-market

RUN - Rental Used New

42
Rental Transformation - RUN
Highlights
Flexible options Revenue realization – Rental integrated Maximized rental ROIC
for customers everything for sale into dealership throughout the cycle

Canada From To
NEW RENTAL
< 3 months 1-36 months Caterpillar % of fleet 40% 60%+
Adds from inventory
Primary source of used Line items ~1,000 ~500
inventory (60%+)
Targeted machine life 5 years 3 years

Machine specification:
USED Varied Identical
rent vs sale
> 36 months
Retail sale at peak residual value
 Overall margin
improvement with
higher mix of rental
+30% +6% and used sales

RATES UTILIZATION  Maximize asset value

3% 30% 6% with ex-rentals for
used sales
2017 vs 2016

43
Grow New Equipment Sales Using Data-Driven Insights

Analytics are driving market

knowledge and team behaviors

 Investing in new relationships based on  New sales quoting tool, processes and
shovel ready and future projects reporting ensure margin control
 Sales teams focused on region and industry  Coverage of existing and new customers
 Active measurement of participation and
equipment availability
 Lower cost sales channels (online, inside sales)

44
Leverage Connectivity to Deliver Insights and Parts Share
 Significant opportunity to capture parts market share with mid-size customer
 Finning has 2 x share with largest customers vs. mid-tier customers

Customer Support
Connectivity Agreements Ease

Retrofits
Cat Digital
Inspection

183% SOS
Condition
Monitoring

Repair
Quote
Q1/17 Q1/18 History

 Standard on new  Digital tools for

machines Match CSA to transparency and trust
 Revenue from connected segment needs  Growing online parts
assets up 2.5 times sales (+23% in 2017)
(Q1/18 vs Q1/17)

45
Transform Retail Experience for Mid-Market
Offer flexible options for customers across RUN needs (Rental, Used, New)
 Customer-centric retail experience, integrating RUN into locations
 Freeing up service capacity to support mid-market
 Increasing rental and used inventory to provide flexible options at multiple price points

Service Capacity for Mid-Market Consolidated Used Supply

 Consistent service standards  Used Retail Centre,

 Standardized repair options Edmonton - May 2018

 New delivery model pilots  Consolidated inventory of

 Pop-ups used machines
 Small trucks  Demonstration area
 Increase % in-field

46
Maintaining Cost Discipline

Reduced Cost Structure Increased Absorption Rates (%)

2014 - 2016 CANADA 150

Annual savings $150M

125
Workforce(1) 21%

Facility footprint 25% 100

Fixed SG&A(2) 22%

75

(1) Excluding Saskatchewan operations acquired in 2015

(2) Adjusted for significant items, excluding Saskatchewan operations. 50
Please refer to 2017 MD&A for an explanation of significant items
2013 2014 2015 2016 2017

Absorption rate is calculated as product support gross profit divided

by total SG&A costs

47
UK & IRELAND
Kevin Parkes, Managing Director, Finning UK & Ireland

INVESTOR MEETING
Vancouver, May 10, 2018
UK Market Evolution: Shift from Mining to Core
Mining Parts Core Parts Parts Revenue Recovered Since Mining
% of parts revenue % of parts revenue Collapse (£M indexed to 100 in 2014)
80 105

60
59 100
48 95
40 90
23
85
20
7 80
0 75
2014 2018E 2014 2018E 2014 2015 2016 2017 2018E

£500bn Infrastructure Opportunity HS2 is the Largest Rail Project in the UK

 HS2
 Heathrow
Expansion Opportunity
 90km section
 Self delivery model
 Circa 700 core assets
 3 year time line
 Value for advice
Energy Water Transportation Other

49
Lean & Agile Business Model

Successfully Repositioned for Profitability Improved Inventory Management

Invested Capital Turnover

REVENUE EBIT Aged

Inventory
Less product SG&A Driven by
support in
the mix
lower cost
structure
>5 <5%
>6
New
Reduced cost structure maintains profitability on Parts Equipment
lower margin revenue stream Turns Turns
E

Sustainable Fixed Cost Reduction Maintain Working Capital Discipline

through geographic consolidation and through growth cycle
business line leverage
Working Capital to Sales Ratio

Closed
Location

20%
reduction in
non-service
employees
E

50
 Investing in New Capabilities
Retail Transformation Performance Solutions
Easier to do business, lower cost to serve Margin expansion through value added services

OMNI CHANNEL DEVELOPMENT

RETAIL AND ONLINE EXPERIENCE

FOR MACHINES AND GENERATORS

51
Connectivity Enables Lean & Agile Service Model
Connected Formatted Network
Connected Standard
Engineers Repair Options

R
Connected
RR
Vehicles 1 2 3 4 5

RRR

Workforce
Management
R

RR

RR

RRR RR RR

RRR
R R

RRR R

R
RR

R Connected Customers
Customer Experience NPS
Product Support Market Share

13% 12%
70%
Safety SG&A Non
Observations Productive
Travel Time
Performance
Connect CSA
Solutions
52
GLOBAL SUPPLY CHAIN
Steve Nielsen, EVP and CFO

INVESTOR MEETING
Vancouver, May 10, 2018
 Equipment Supply Chain Improvements

Key Performance Drivers

End-to-End Improved Demand and Advanced Technology in

Process Improvement Supply Planning Key Processes

Improvements - New Equipment

Lower Inventory Increased Inventory Turns Shorter End-to-End Cycles

($ millions) (X times) (days)

800 4.2

750 4.0 4.1

0.5x 37%
700 3.8 16%
23%
650 3.6
3.6
600 3.4 0.4x 12%
~600
550 3.2

500 3.0
2013 2017 2013 2017 Potential 2015 2017 2015 2017 2015 2017

↑ 0.1 turns ~$20M FCF Canada South America UK & Ireland

54
 Parts Supply Chain Improvements

Key Performance Drivers

Improved Reduced Network Routes Increased Direct Shipments

Inventory Management and Touches to Customers

Improvements - Parts

Lower Inventory Increased Inventory Turns Increased Customer Loyalty

($ millions) (X times) (net promoter score)

750 4.2
4.0
3.8 4.0
700 0.5x
10% 3.6 11%
3.4
650 3.5
~650 3.2 13%
15%
3.0 0.8x
600
2.8
2.6
550 2.4
2.2
500 2.0
2013 2017 2013 2017 Potential 2014 2017 2014 2017 2014 2017
↑ 0.1 turns ~$20M FCF Canada South America UK & Ireland
55
Transformed and Globally Leveraged Supply Chain
Drives Significant Competitive Advantage

Data Driven
Planning
Global Supply Chain
design puts the customer at
the centre of our business
and focuses on enhancing
their experience across all
channels Efficient
Working
Capital
Talent,
Processes and
Technology

Leverage
Volume and
Scalability

56
Supply Chain Benefits Align With Global Strategic Priorities

Customer Digital Lean and Agile

Centricity Enterprise Global Finning

Priorities

Canada UK & Ireland South America

1. Equipment Supply
Chain Velocity
Complete In Progress 2019

2. E-Commerce
Capabilities
Customer Customer Life Cycle Lower
Delivery Options Management Cost to Serve

3. Strategic
Procurement

Current indirect spend $1B Global Supplier Leverage Global Buying Improve Value for
Performance Power Cost Proposal
Annual savings potential 5%

57
FINANCIAL PERFORMANCE
Steve Nielsen, EVP and CFO

INVESTOR MEETING
Vancouver, May 10, 2018
Investor Value Proposition
KEY GROWTH DRIVERS

Infrastructure Opportunities

Revenue Growth Markets Copper Mining Outsized Growth

Directionally consistent with previous
Power Systems
upcycles; key growth drivers provide upside
Customer Support Agreements

Digital / E-Commerce
Product
Lead Generation Tool
Earnings Torque Support

Leverage of incremental revenue Rebuilds

on fixed cost
Integrated Knowledge Centre(s)

Ultra-Class Mining Vehicles

Capital Efficiencies Autonomy

Caterpillar
Supply chain improvements and / Finning
capital discipline Life Cycle Value Machines

Underground

RUN

Complementary Acquisitions

RUN - rental, used, new equipment

59
Earnings Torque

2013 2017 Target

SG&A costs
~23% ~20% ~18%
as % revenue

Revenue $6.8B Revenue Decline $6.3B Revenue Growth

Business Transformation Lower Cost to Serve

 Overhead reduction  Digital / e-commerce
 Facility optimization  ERP in South America
 Supply chain efficiencies - parts  Global procurement
 Cost discipline  Performance insights
 Supply chain efficiencies - equipment

Reduced SG&A Costs as Percentage of Revenue – Lower Fixed Cost Base

60
Financial Objectives – Canada

Revenue Growth
KEY GROWTH DRIVERS

Infrastructure Opportunities

ROIC Potential Markets Copper Mining Outsized Growth

Power Systems
9.5% 19% 20% 21% 22%
Customer Support Agreements
9.0% 18% 19% 20% 21%
Digital / E-Commerce
EBIT Margin

8.5% 17% 18% 19% 20% Product

Lead Generation Tool
Support

8.0% 16% 17% 18% 18% Rebuilds

Integrated Knowledge Centre(s)

7.5% 15% 16% 17% 17%
Ultra-Class Mining Vehicles
2.0 2.1 2.2 2.3
Autonomy
IC Turnover Caterpillar
/ Finning
Life Cycle Value Machines
Takeaways
Underground
 Positive outlook for key industries
 Mid-market product support growth RUN

 Leading autonomy solution RUN - rental, used, new equipment

 Rental transformation

61
Financial Objectives – South America

Revenue Growth
KEY GROWTH DRIVERS

Infrastructure Opportunities

ROIC Potential Markets Copper Mining Outsized Growth

Power Systems
10.0% 20% 21% 22% 23%
Customer Support Agreements
EBIT Margin

9.5% 19% 20% 21% 22%

Digital / E-Commerce

9.0% 18% 19% 20% 21% Product

Lead Generation Tool
Support

8.5% 17% 18% 19% 20% Rebuilds

Integrated Knowledge Centre(s)

2.0 2.1 2.2 2.3
Ultra-Class Mining Vehicles
IC Turnover
Autonomy
Takeaways Caterpillar
/ Finning
Life Cycle Value Machines
 Chilean copper mining recovery
 Significant ultra-class truck opportunity Underground
 Product support growth through Integrated
RUN
Knowledge Centre and Lead Generation Tool
RUN - rental, used, new equipment
 Underground mining opportunity

62
Financial Objectives – UK & Ireland

Revenue Growth KEY GROWTH DRIVERS

Infrastructure Opportunities

ROIC Potential Markets Copper Mining Outsized Growth

Power Systems
5.0% 18% 19% 19% 20%
Customer Support Agreements
EBIT Margin

4.5% 16% 17% 17% 18%

Digital / E-Commerce

4.0% 14% 15% 15% 16% Product

Lead Generation Tool
Support

3.5% 13% 13% 13% 14% Rebuilds

Integrated Knowledge Centre(s)

3.6 3.7 3.8 3.9

IC Turnover Ultra-Class Mining Vehicles

Autonomy
Takeaways Caterpillar
/ Finning
 Significant infrastructure and power Life Cycle Value Machines
opportunities
Underground
 Lean and agile business model
RUN
 Digital services
RUN - rental, used, new equipment
 Supply chain velocity

63
 Capital Allocation
Goal - Positive Free Cash Flow Through the Cycle Uses of Cash (2013-2017)

GROWTH SHAREHOLDERS Share

repurchases
Technology Dividends
Dividend
Acquisition of
Ultra-Class Mining Vehicles Share Repurchases Saskatchewan dealer

RUN
Free Cash Flow
Complementary Acquisitions ~$1.8 billion

Increase in cash
RUN - rental, used, new equipment

Debt repayment
~90% Bucyrus related

Net Capital Expenditures ($ millions) Dividend ($ per share) – 6% CAGR

200 0.90
150-200
 Process and technology
0.80
investments 0.80
160
0.75
 Ultra-class mining vehicles 0.73 0.73
118 80-90
0.69
120  Digital and e-commerce 0.70
capabilities
0.60
74 70 0.60
80
63
54

40 0.50

0 0.40
2013 2014 2015 2016 2017 2018 E 2013 2014 2015 2016 2017 2018

64 2013 to 2017 - annual dividend paid; 2018 - indicated annual dividend

CLOSING COMMENTS
Scott Thomson, President and CEO

INVESTOR MEETING
Vancouver, May 10, 2018
Summary
 Positive macro-economic backdrop in all GLOBAL STRATEGIC PRIORITIES
regions
 Use of technology to improve customer Customer Centricity
experience and reduce cost to serve
 Significant product support growth Lean & Agile Global Finning
opportunities
 Positioned for profitable and capital Global Supply Chain
efficient growth
 Strategic priorities to create value for all
stakeholders Digital Enterprise

Growth and Diversification

66
INVESTOR MEETING
Vancouver
May 10, 2018