#1INVESTOR PRESENTATION Greg Palaschuk, EVP and CFO Dave Primrose, Managing Director, Finning UK & Ireland RBC Capital Markets Canadian Automotive, Industrials & Transportation Conference May 18, 2021 See slide 10 for important information on forward-looking information, currency and non-GAAP financial measures in this presentation FINNING#2Finning Overview Largest Caterpillar dealer Unrivalled service since 1933 Diversified by geography, customer base, product, and sector ~12,000 employees NU YT NWT BC AB United >Kingdom Ireland SK Cannock Edmonton Vancouver head office UK & Ireland 16% FINNING Market Statistics (1) - FTT (TSX) Focus on Sustainability Share price Market Cap 33.26 5.4B S&P/DBRS rating BBB+/high Annual dividend / share 0.82 Dividend yield 2020 2.5% FINNING SUSTAINABILITY REPORT BUILDING AND POWERING A BETTER WORLI Bolivia 2021 Q1 LTM Financial Statistics (2) Revenue 6.2B Net revenue (3 (3) 5.8B EBIT Argentina 406M Chile EBITDA (3) 715M Santiago Adjusted EBITDA (3) 636M EPS 1.53 Adjusted EPS (3) 1.16 Invested capital (3) 3.2B ROIC (3) 12.5% Adjusted ROIC(3) 10.0% Used equipment 6% Rental 3% Fuel & other 2% Power Systems 12% QI 2021 LTM Canada 51% net revenue South by region (2) New equipment 30% QI 2021 LTM net revenue by line of business(2) Product support 59% America 33% (1) At May 12, 2021 (2) Last 12 months ended March 31, 2021 2 Core(4) 40% QI 2021 LTM net revenue by market segment(2) Mining 48% Visit our website for our 2020 Sustainability Report, which describes our alignment with GRI, SASB and TCFD frameworks and our target to reduce our absolute GHG emissions by 20% by 2027 from our 2017 baseline (5) SUSTAINABILITY ACCOUNTING (3) This is a non-GAAP financial measure. See slide 10 for more information (4) Core market segment includes construction, forestry, pipeline, quarrying, waste management, industrial services, public services, and agriculture (5) This is forward-looking information. See slide 10 for more information. GRI Empowering Sustainable Decisions TCFD SASB STANDARDS BOARD TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES#32021 Outlook and Profitability Drivers Equipment Backlog() QI 2021 vs Q4 2020 157% HS2 Orders In QI 2021 backlog £83M FINNING Construction Rebuilds Canada, certified rebuilds 3421 QI 2021 FY 2020 GHG Emissions QI 2021 vs Q1 2020 +11% Positive 2021 Outlook (2) Expect revenue growth in 2021 underpinned by strong backlog, however, remaining below 2019 levels Expect 2021 earnings to exceed 2019, despite slower than anticipated vaccine rollout in Canada and challenges related to COVID-19 Expect strong annual free cash flow(1) in 2021; EBITDA to FCF conversion (1) modestly below 50% due to increased inventory purchases 2021 Profitability Drivers Operating leverage in a recovering market Product support growth in all regions Significant progress towards SG&A target Effective allocation of capital རཿ་་་་ Product Support Growth Construction market share gains Mining upcycle capture SG&A as % of Net Revenue(1)(2) %~17% Mid-cycle target EBITDA to FCF Conversion (2) (2) This is forward-looking information. See slide 10 for more information. -50% 2013-2020 average Mid-cycle target (1) This is a non-GAAP financial measure. See slide 10 for more information. 3#4UK & Ireland FINNING Business Overview 17 locations, including 4 RRR hubs 3 parts distribution centres Highly diversified customer base Highly competitive market Record backlog at March 31, 2021 Key Markets and Revenue Drivers 2020 Revenue $887M Employees March 31, 2021 ~1,440 ~570 service engineers Strong Growth Prospects(3) A UK GDP forecast to grow 7.25% in 2021 (1) HS2 - largest infrastructure project in the UK £27B UK infrastructure investment for 2021-2022 (2) Growing data centre markets in Ireland and the UK Used equipment 7% Rental 3% Product support 31% 2020 revenue by line of business Construction ~65% of 2020 revenue Road Building Railway Building Waste Management Quarrying Plant Hire Power Systems New Equipment 59% ~35% ☑ |- of 2020 revenue Electric Power Data Centres Industrial Applications Marine & Pleasure Craft Energy/ Landfill Gas 4 (!) Office for Budget Responsibility - Economic and Fiscal Outlook, March 2021 (2) HM Treasury - National Infrastructure Strategy, November 2020 (3) This is forward-looking information. See slide 10 for more information.#5QI 2021 Financial Results - UK & Ireland Net Revenue $ Millions 206 284 214 EBITDA Adjusted, $ Millions, as % of Net Revenue (1) 5.2% FINNING Return on Invested Capital Adjusted, 4 Quarter Average 7.0% 7.9% 8.4% 20 17 7.6% 5.5% QI 2020 Q4 2020 QI 2021 QI 2020 Q4 2020 QI 2021 QI 2020 Q4 2020 QI 2021 0.5% 3.7% Adjusted EBIT as % of Net Revenue 3.2% QI 2021 Commentary New equipment sales up 2% from QI 2020 in functional currency, driven by power systems project deliveries Product support revenue up 7% from QI 2020 in functional currency with improved activity in all sectors Improved operating efficiencies and velocity in a recovering market Strong execution and momentum to capture growth Secured additional equipment orders for HS2 Market Outlook(2) Buoyant equipment markets driven by optimism for post COVID recovery and HS2 construction ramp up Record backlog reflects strong order intake (1) in construction and a significant backlog of power systems projects for data centre customers HS2 and power systems project deliveries expected to drive higher revenue in the second half of 2021 and into 2022 5 (1) This is a non-GAAP financial measure. See slide 10 for more information. (2) This is forward-looking information. See slide 10 for more information.#6UK & Ireland - RRR Network Transformation and Parallels to Canada FINNING Finning UK & Ireland's SG&A as % of Net Revenue 13.5% 2017-2020 average as % of net revenue(!) RRR RR R R R RRR RR RRR 6 R RRR R RR R RR R Whitehorse R Yellowknife Finning UK & Ireland's Improved Financial Performance Adjusted SG&A Network reconfiguration, British Columbia Alberta Terrace R Fort St. John Peace River R Fort McMurray / Fort McKay RRR R as % of revenue(!) leveraged service operating model, back-office consolidation Houston Saskatchewan R Prince George Grande Prairie RR RRR Adjusted EBIT Life-cycle commercial governance, enhanced product support value propositions IC Turnover (1) Product standardization, direct ship, enhanced warehouse management Williams Lake R Kamloops RRR Red Deer R Edmonton RRR Lloydminster Saskatoon Tisdale R RR Regina RRR RRR Model Benefits The RRR network is a hub and spoke operating model designed to maximize customer service, labour, and inventory efficiency (!) This is a non-GAAP financial measure. See slide 10 for more information. Campbell River R Kelowna R Nanaimo R RR RR Surrey Victoria Calgary RRR R Cranbrook The Cat Rental Store RRR Network Model Response, Repair, Rebuild Response Repair Rebuild R Swift Current R Lethbridge Estevan R RRR RR R#7UK High-Speed Rail (HS2) Largest Infrastructure Project in Europe with ~£100B Total Budget(1)(2) Manchester Leeds Sheffield Phase 2 Phase I FINNING 230 km high speed rail line from London to Birmingham Earthwork to be completed by 2024 Opening expected 2029 - 2033 Birmingham Phase I ₤390M London O Total Phase I Opportunity ~1,100 Machines Technology Repair & maintenance ■ Professional services £83M HS2 Orders QI 2021 backlog of ~380 machines Articulated dump trucks Excavators Dozers Compactors Graders Wheel Loaders construction ~200 ~130 sites million tons of earth excavated ~150 bridges ~110 embankments ~50 viaducts 103 km of tunneling Phase 2(3) High speed rail line to Crewe, Manchester, and then Leeds Opening expected 2035 - 2040 Overall target cost ~£53bn (4) Incremental opportunity for new machines, repair and maintenance, technology and professional services (1) HS2 website: www.hs2.org.uk (2) This page contains forward-looking information. See slide 10 for more information. (3) Subject to approval by UK Government 7 (4) HS2 6-monthly report to Parliament: March 2021- www.gov.uk#8FINNING Finning Digital Performance Solutions A Enabling better knowledge and decision making based on real-time information linked to operational KPIs Hi Philip! Welcome to my finning cam כו 19 11344 16/17 Tweets HILI LIGH The massive 31°C 100 d 100 L of HS2 to the Midlande andy being. H52 will transform our transport network". Mana Machancoses, Director twitter.com/id MidsConnect hipster.com/MidsConnectstatus1104134048 198490 = F Scott Welcome to my finning com 97% TARGET 1940.34/2000 90 m 72.59% • 28.05 Digital Performance Solutions, Designed by Finning to Meet Customer Requirements Tracking of mass haul activity Efficient monitoring of load and haul fleet Progress of grading and compaction operations Resource management including asset monitoring, people development and fleet management Environmental management including fuel and carbon emissions Safety information on equipment usage All available through a single pane of glass Earthmoving Principles Move it once Move it safely PRODUCTIVITY RESOURCE MANAGEMENT SAFETY, SUSTAINABILITY AND ENVIRONMENT Move it the shortest distance Use the least amount of fuel MASS HAUL TRACKING PAYLOAD GRADING COMPACTION MONITORING OPERATIONS OPERATIONS INTEGRATED TRAINING ASSET AND MONITORING DEVELOPMENT FLEET MANAGEMENT FUEL AND CARBON EMISSIONS Subscription based software model SAFETY 00 8 静#9Cloud Data Centres Growing Data Centre Markets in Dublin and London TITT பட Operational Data Centres (currently) UK - 135 Ireland - 70 Accelerated Cloud adoption drives data centre demand Digital economy in the UK represents over 7% of GDP(1) 26% of Ireland's exports are from computer services (2) Continued investment in Ireland data centre infrastructure 00 00 €1.3B in 2020(2) ° 00 €6.7B between 2021 to 2025(2)(4) Finning is a strategic supplier to the world's largest cloud services companies Current Capacity Q4 2020 FINNING UK-729MW Ireland 900MW - Ireland capacity forecast growth (3) 6.7% Industry CAGR 2020-2025(4) 米 UK capacity forecast growth (1) 12% Finning UK's data centre Extensive experience and project delivery track record revenue as % of 2020 revenue 9 (1) UK Data Center Market - Investment Analysis and Growth Opportunities Publication (2020-2025) (3) Ireland Data Center Market - Growth, Trends and Forecasts Publication (2020-2025) 4.0% Industry CAGR 2020-2025(4) >90% Installed Caterpillar generators under a customer value agreement (2) Host In Ireland - Ireland's Data Hosting Industry Biannual Report, November 2020 (4) This is forward-looking information. See slide 10 for more information.#10Disclosures FINNING 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 we believe are reasonable as of the date of this presentation, but may ultimately turn out to be incorrect. Forward looking information in this presentation includes: our target to reduce our absolute GHG emissions by 20% by 2027 from our 2017 baseline on slide 2; our outlook for 2021 and our targets to achieve 17% SG&A as a percentage of net revenue and EBITDA to FCF conversion of ~50% in the mid-cycle on slide 3; the information under "Strong Growth Prospects" on slide 4; information under "Market Outlook" on slide 5; information on slide 7 regarding HS2, including the total project budget, earthwork completion date of 2024, opening expected 2029-2033, the size and nature of the Phase I opportunity and all statements regarding Phase 2 of HS2, which has not yet been approved by the UK Government; and information on slide 9 regarding Ireland's and the UK's respective capacity forecast growth and industry CAGR 2020-2025. No assurances can be given that the information in this presentation will result in sustained or improved financial performance. Information in this presentation has been furnished for information only and is accurate at the time of presentation, but may later be superseded by more current information. Except as required by law, we do not undertake any obligation to update the information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors, and is based on a number of assumptions that we believe are reasonable as of the date of this presentation, which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Assumptions on which the forward-looking information is based include but are not limited to assumptions that: we will be able to execute on our strategic plans, take advantage of growth opportunities, control our costs, drive continuous cost efficiency in a recovering market, and manage the impacts of COVID-19, and we are assuming an undisrupted market recovery, for example, undisrupted by COVID-19 impacts, commodity price volatility or social unrest, and successful execution of our profitability drivers listed on slide 3. Important information identifying and describing such risks, uncertainties, assumptions and other factors is contained in our most recently filed annual information form (AIF) and in our most recent annual and quarterly management's discussion and analysis of financial results (MD&A), which are available on our website (www.finning.com) or under our profile on SEDAR (www.sedar.com). We caution readers that the risks described in the AIF and MD&A are not the only risks that could impact the company. We cannot accurately predict the full impact that COVID-19 will have on our business, results of operations, financial condition or the demand for our services, due in part to the uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, the steps our customers or suppliers may take in current circumstances, including slowing or halting operations, the duration of travel and quarantine restrictions imposed by governments of affected countries and other steps that may be taken by such governments to respond to the pandemic. Additional risks and uncertainties not currently known to us or that are currently deemed to be immaterial may also have a material adverse effect on our business, financial condition, or results of operations. Currency Monetary amounts referred to in this presentation are in Canadian dollars unless noted otherwise. All variances and ratios in this presentation are based on the functional currency of each operation (Canada: CAD, South America: USD, UK Ireland: GBP). Non-GAAP financial measures This presentation includes certain "non-GAAP financial measures", which are called out the first time they are used. The non-GAAP financial measures do not have a standardized meaning under International Financial Reporting Standards (IFRS) 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 Generally Accepted Accounting Principles, where available, see the heading "Description of Non-GAAP Financial Measures and Reconciliations" in our most recent MD&A. We believe that providing certain non-GAAP financial measures provides users of our consolidated financial statements with important information regarding the operational performance and related trends of our business. By considering these measures in combination with the comparable IFRS measures set out in the MD&A, we believe that users are provided a better overall understanding of our business and financial performance during the relevant period than if they simply considered the IFRS measures alone. Reported financial metrics may be impacted by significant items we do not consider indicative of operational and financial trends either by nature or amount. Financial metrics that have been adjusted to take into account these items are referred to as "Adjusted” metrics. For a description of these significant items, please refer to our quarterly and annual MD&A for the period to which the relevant Adjusted metric relates. 10