Trican Well Service Ltd. · TSX:TCW
Trican Well Service — Investor Presentation (February 2024)
22 slides from Trican Well Service's investor presentation, February 2024
Slide 1: Corporate Presentation February 2024
Z < M Py F Corporate lon Presentat February 2024
Slide 2: Forward Looking Statements
Forward Looking Statements Corporate Presentation 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, profit
Slide 3: Who We Are
CFRICAN] Who We Are Corporate Presentation About Trican We Are Canada’s largest pressure pumper Financial Snapshot Revenue: $973 million Adjusted EBITDAS: $243 million (25%) Net Earnings: $121 million (12%) Free Cash Flow: $162 million (17%) The Goal To generate industry leading returns in an enviro
Slide 4: Full Cycle Technical and Operational Service Provider
CFRICAN] Full Cycle Technical and Operational Service Provider Who We Are Corporate Presentation Drilling Cycle = Cementing Services Completion Cycle = Fracturing = Coiled Tubing = Nitrogen Services Production Cycle = Coiled Tubing = Acidizing = Chemical Services = Remedial Cementing
Slide 5: Where We Operate
CFRICAN] Where We Operate Corporate Presentation Trican is Canada’s Largest Pressure Pumper = Largest hydraulic fracturing fleet in Canada 9 \ FORT ST. JOHN * 524,100 HHP out of an industry total of two 9 . GRANDE PRAIRIE million HHP 9 WHITECOURT * Seven fracturing crews out of ~ 32 in the basin 9 “
Slide 6: Making an Impact
CTRICAN ] Making an Impact Corporate Presentation Strategic Initiatives = Optimized our organization to meet current industry demands * $72 million in annualized fixed cost and G&A reductions from 2018 = Significant investments in new technology * $144 million in Tier 4 DGB fleets and electric ancil
Slide 7: Our Strategic Priorities
CFRICAN]| Our Strategic Priorities Corporate Presentation Deliver Industry Leading ROIC O1 Strengthen Existing Business = Maintain our market leading position in fracturing and cementing service lines = Expand our coil tubing market share = Activate parked equipment (if return hurdles can be met) O3
Slide 8: Our Financial Position
CTRICAN ] Our Financial Position Corporate Presentation Revenue (thousands) $1,200,000 $972,681 sugoop00 $866,295 800000 9600000 $562,479 $397,019 $400,000 “™ LJ §0 2020 2021 022 2023 Adjusted EBITDA (thousands) $250,000 $235,603 §209900 $188,479 $150,000 $101,570 $100,c00 ~ _ — a 9 lio 2020 2021 20
Slide 9: Our Financial Position
CTRICAN ] Our Financial Position Corporate Presentation Earnings per Share- Basic $0.56 90.40 $0.33 s020 $0.06 2021 2022 2023 -g1.00 -$0.86 ROIC 2085 21% 10% 2021 2022 2023 ~47%
Slide 10: Our Financial Position
Our Financial Position Corporate Presentation Trican Free Cash Flow (thousands) Focus on . < Free Cash E mm ¥ Flow : mm | Generation : wf MM FreeCash Flow —=Free Cash Flow Margin 1) Free cash flow isnot a clefined term under IFRS and is considered a non-GAAP measure 2) Free cash flows defined as Adj
Slide 11: Return of Capital
CFRICAN] Return of Capital Corporate Presentation Return of Capital Strategy Share Repurchases (thousands) "Invested over $376 million repurchasing $400,000 400,000 approximately 42% of the Company’s shares $350,000 850,000 ,, since October 2017 -Z $300,000 300,000 5 a 5 + 25 million shares repurcha
Slide 12: Canadian Industry Trends
CFRICAN] Canadian Market Dynamics Corporate Presentation Canadian Industry Trends Hydraulic Fracturing Intensity Continues to Increase = Continue to see an increase in well service intensity as proppant volumes increase per well = This continues to increase the demand for Trican’s high spec hydrauli
Slide 13: Canadian Industry Capacity: Largest Hydraulic Fracturing Fleet
CFRICAN] Canadian Industry Capacity Trican has the Largest Hydraulic Fracturing Fleet in Canada = Expecting the hydraulic fracturing market to be very busy for Q1 2024 = Efficiency gains continue to play a key role in supply and demand fundamentals = Trican has almost half of the idled pressure pump
Slide 14: Trican is an Industry Leader in Cementing
CTRICAN| Canadian Market Dynamics Corporate Presentation Canadian Industry Capacity Trican is an Industry Leader in Cementing = Cement operations track very closely with drilling activity = Longer laterals demand increasingly technical cement capabilities = Trican services approximately 1/3 of the C
Slide 15: Focused on Growing our Coil Division
CTRICAN| Canadian Market Dynamics Corporate Presentation Canadian Industry Capacity Trican is Focused on Growing our Coil Division = The demand for coil has significantly improved with increased industry activity = Currently operating in a balanced market = Focused on a wide range of coil operations
Slide 16: Frac Forward: Tier 4 Dynamic Gas Blending Technology
CTRICAN ] Frac Forward — Advanced Low Emission Frac Fleet Corporate Presentation Tier 4 Dynamic Gas Blending (DGB) Technology Investing to Reduce our Environmental Impact and Improve Efficiency = First company in Canada to deploy Tier 4 DGB low emissions fracturing fleet * Displace up to 85% of dies
Slide 17: Reducing our Consumption and Emissions
CTRICAN ] Frac Forward — Advanced Low Emission Frac Fleet Corporate Presentation Tier 4 Dynamic Gas Blending ( DGB) Technology Reducing our Consumption and Emissions 250 200 150 100 Scope 1 & 3 Greenhouse Gas Emissions Per Day Fuel Cost Per Day $140,000 $120,000 $100,000 $20,000 6,337 $00,000 $126,1
Slide 18: Electrification of Ancillary Fracturing Equipment
CTRICAN ] Frac Forward — Advanced Low Emission Frac Fleet Corporate Presentation Electrification of Ancillary Fracturing Equipment Focused on Fleet Modernization = Electrification of the blender, chemical addition unit and sand storage equipment = Strategic alignment with ESG and differentiation = P
Slide 19: Responsibly Improving Efficiency
CTRICAN ] Responsibly Improving Efficiency Corporate Presentation Hydraulic Fracturing = High volume products delivered through bulk logistics, reducing Red ucing our transportation and handling by 50% = Development of friction reducers that maintain performance in 100% Environmental _ esses» = Redu
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Slide 21: Investment Highlights
Investment Highlights Corporate Presentation = Canadian basin bottlenecks removed and LNG close to onstream Canadian Growth * Increasing global focus on the importance of energy security = Ownalmost half of the spare pumping capacity in Canada "Free cash flow margin driven by corporate focus on effi
Slide 22: Contact Details
2900, 645 - 7th Avenue SW Calgary, Alberta, Canada T2P 4G8 +1 403 266 0202 info@trican.ca www.tricanwellservice.com
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