Finning International Inc. · TSX:FTT

Finning International — Q1 2021 Earnings Presentation

12 slides from Finning International's earnings presentation, May 11, 2021

1. Slide 1: Q1 2021 Results

   Q1 2021 RESULTS Scott Thomson, President and CEO Greg Palaschuk, EVP and CFO May 11, 2021 See slides 10 & 11 for important information on forward-looking information, currency and non-GAAP financial measures in this presentation

2. Slide 2: Highlights

   Highlights Equipment Backlog(1) HS2 Orders Construction Rebuilds GHG Emissions Q1 2021 vs Q4 2020 Q1 2021 backlog Canada, certified rebuilds Q1 2021 vs Q1 2020 57% £83M 34 21 11% Q1 2021 FY 2020 Positive 2021 Outlook(2) 2021 Profitability Drivers  Expect revenue growth in 2021 underpinned by  Oper

3. Slide 3: Q1 2021 Results

   Q1 2021 Results vs Q1 2020 Key Drivers Q1 2021 Financial Statistics ($ Millions) Net Revenue(1)  Higher new equipment Revenue 1,596 EBITDA(1) 185 $1.5B 2% sales in South America  Strong used equipment sales in Canada Net Revenue EBIT 1,469 108 Net Income Basic EPS $0.43 70 Adjusted EBITDA(1) Q1 20

4. Slide 4: Net Revenue

   Q1 2021 Net Revenue Net Revenue by Line of Business $ Millions Key Revenue Drivers 35 (8) (47)  Higher new equipment sales driven by South 49 America, including QB2 deliveries 1 1,469 1,439  Strong used equipment sales in Canada, particularly in mining  Slower recovery in product support due to C

5. Slide 5: Adjusted EBITDA

   Q1 2021 Adjusted EBITDA Adjusted EBITDA $ Millions Q1 2021 Highlights 170 (4 ) 9 (1) (4)  Lower product support and rental revenues 170 reduced gross profit  $24 million higher LTIP expense: share price up 18% in Q1 2021 vs down 40% in Q1 2020  Excluding LTIP expense in Q1 2021 and LTIP benefit i

6. Slide 6: Financial Results – Canada

   Q1 2021 Financial Results – Canada Net Revenue EBITDA Return on Invested Capital $ Millions Adjusted, $ Millions, as % of Net Revenue Adjusted(1), 4 Quarter Average 13.7% 13.7% 13.6% 14.2% 20.0% 15.0% 150 771 773 10.8% 10.0% 755 106 105 10.5% 103 5.0% 0.0% 100 -5.0% -10.0% -15.0% 50 -20.0% -25.0% 0

7. Slide 7: Financial Results – South America

   Q1 2021 Financial Results – South America Net Revenue EBITDA Return on Invested Capital $ Millions Adjusted, $ Millions, as % of Net Revenue Adjusted, 4 Quarter Average 14.4% 12.8% 20.0% 12.4% 12.2% 12.9% 15.0% 12.2% 496 482 75 478 60 61 61 10.0% 5.0% 0.0% 50 -5.0% -10.0% -15.0% 25 -20.0% -25.0% 0 -

8. Slide 8: Financial Results – UK & Ireland

   Q1 2021 Financial Results – UK & Ireland Net Revenue EBITDA Return on Invested Capital $ Millions Adjusted, $ Millions, as % of Net Revenue Adjusted, 4 Quarter Average 7.0% 7.9% 284 5.2% 10.0% 24 5.0% 8.4% 214 20 7.6% 206 0.0% 17 5.5% -5.0% 16 11 -10.0% -15.0% 8 -20.0% -25.0% 0 -30.0% Q1 2020 Q4 202

9. Slide 9: Free Cash Flow, Balance Sheet, Capital Allocation

   Free Cash Flow, Balance Sheet, Capital Allocation Free Cash Inventory Working Capital to Net Debt to Flow Turns(1) Net Revenue (1) Adjusted EBITDA(1) Q1 2021 Q1 2021 Q1 2021 March 31, 2021 ($20M) 2.83X 25.9% 1.5X  Expect increased  Up 26% vs Q1 2020  Down 300 bps vs Q1 2020  S&P revised outlook

10. Slide 10: Disclosures

    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 we believe are reasonable as of the date of this presentation, but may ultimately

11. Slide 11: Disclosures

    Disclosures 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 measure

12. Slide 12: Sotersseree

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