Trican Well Service (TCW) Corporate presentation summary

Operating profile and market position

• Largest pressure-pumping services provider in Canada, with >620,000 HHP of fracturing capacity, ~15 frac spreads, ~25 cementing crews and ~10 coiled tubing units.

• Operations are entirely in the WCSB, serving conventional and unconventional plays; services span hydraulic fracturing, cementing and coiled tubing.

• High-intensity frac demand in the Montney, Duvernay and Deep Basin is forecast to grow at 5% CAGR through 2030, supported by expanding takeaway capacity.

• Canadian active rig count was up ~13% YoY in October 2026; Alberta rig count was at its highest level since 2014, while more complex wells support higher pressure-pumping demand.

Financial position and shareholder returns

• 2026E consensus metrics: revenue of $1,255 million, EBITDA of $260 million and free cash flow of $150 million.

• Estimated liquidity of $215 million and excess free cash flow of $126 million support investment, debt repayment, M&A and share repurchases.

• No senior debt outstanding; net debt/LTM EBITDA was 0.0x versus a peer average of ~1.9x at Q2 2026.

• Returned ~ $700 million to shareholders since 2017 through repurchases and dividends; dividend per share grew at 11% CAGR since 2023.

• Repurchased ~ $320 million of shares since the start of 2022; organic EBITDA CAGR was >6% since 2022.

Sustainability and strategic priorities

• Targeting the lowest-emitting pressure-pumping operations in Canada; a natural-gas-fueled frac fleet paired with electric ancillary equipment can displace ~90% of diesel use in conventional frac operations.

• Canada's first 100% natural-gas-fueled frac fleet was planned for Q4 2026; ongoing priorities include pump development, idle reduction, water stewardship and use of recycled or non-potable water.

• Strategic priorities include shareholder returns, strengthening positions in key plays, operational excellence, full-cycle resilience and sustainability leadership.