Finning International

1. INVESTOR PRESENTATION
Scott Thomson, President and CEO
Marcello Marchese, President, Finning South America
Mauk Breukels, VP Investor Relations
Toronto, Boston, Montreal September 2014

2. Forward Looking Information
2
This report contains statements about the Company’s business outlook, objectives, plans, strategic priorities and other statements that are not historical facts. A statement Finning makes is forward-looking when it uses what the Company knows and expects today to make a statement about the future. Forward-looking statements may include words such as aim, anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, project, seek, should, strategy, strive, target, and will. Forward-looking statements in this report include, but are not limited to, statements with respect to: expectations with respect to the economy and associated impact on the Company’s financial results; expected revenue; EBIT margin; ROIC; market share growth; expected results from service excellence action plans; anticipated asset utilization, inventory turns and parts service levels; the expected target range of the Company’s net debt to invested capital ratio; and the expected target range of the Company’s dividend payout ratio. All such forward-looking statements are made pursuant to the ‘safe harbour’ provisions of applicable Canadian securities laws.
Unless otherwise indicated by us, forward-looking statements in this report reflect Finning’s expectations at September 3, 2014. Except as may be required by Canadian securities laws, Finning does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Forward-looking statements, by their very nature, are subject to numerous risks and uncertainties and are based on several assumptions which give rise to the possibility that actual results could differ materially from the expectations expressed in or implied by such forward-looking statements and that Finning’s business outlook, objectives, plans, strategic priorities and other statements that are not historical facts may not be achieved. As a result, Finning cannot guarantee that any forward-looking statement will materialize. Factors that could cause actual results or events to differ materially from those expressed in or implied by these forward- looking statements include: general economic and market conditions; foreign exchange rates; commodity prices; the level of customer confidence and spending, and the demand for, and prices of, Finning’s products and services; Finning’s dependence on the continued market acceptance of Caterpillar’s products and Caterpillar’s timely supply of parts and equipment; Finning’s ability to continue to improve productivity and operational efficiencies while continuing to maintain customer service; Finning’s ability to manage cost pressures as growth in revenues occur; Finning’s ability to reduce costs in response to slowing activity levels; Finning’s ability to attract sufficient skilled labour resources to meet growing product support demand; Finning’s ability to negotiate and renew collective bargaining agreements with satisfactory terms for Finning’s employees and the Company; the intensity of competitive activity; Finning’s ability to raise the capital needed to implement its business plan; regulatory initiatives or proceedings, litigation and changes in laws or regulations; stock market volatility; changes in political and economic environments for operations; the integrity, reliability, availability and benefits from information technology and the data processed by that technology. Forward-looking statements are provided in this report for the purpose of giving information about management’s current expectations and plans and allowing investors and others to get a better understanding of Finning’s operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking statements for any other purpose.
Forward-looking statements made in this report are based on a number of assumptions that Finning believed were reasonable on the day the Company made the forward-looking statements. Refer in particular to the Outlook section of this MD&A. Some of the assumptions, risks, and other factors which could cause results to differ materially from those expressed in the forward-looking statements contained in this report are discussed in Section 4 of the Company’s current AIF.
Finning cautions readers that the risks described in the AIF are not the only ones that could impact the Company. Additional risks and uncertainties not currently known to the Company or that are currently deemed to be immaterial may also have a material adverse effect on Finning’s business, financial condition, or results of operations.
Except as otherwise indicated, forward-looking statements do not reflect the potential impact of any non-recurring or other unusual items or of any dispositions, mergers, acquisitions, other business combinations or other transactions that may be announced or that may occur after the date hereof. The financial impact of these transactions and non-recurring and other unusual items can be complex and depends on the facts particular to each of them. Finning therefore cannot describe the expected impact in a meaningful way or in the same way Finning presents known risks affecting its business.
Monetary amounts are in Canadian dollars and from continuing operations unless noted otherwise

3. Overview of Finning International
World’s largest Caterpillar dealer serving customers for over 80 years
We sell, rent and provide parts and service for Caterpillar equipment and engines
Operate in Western Canada, Chile, Argentina, Bolivia, Uruguay, UK and Ireland
Main industries: mining (oil sands, copper, coal), construction, power systems (EPG, petroleum, marine) and forestry
~14,600 employees worldwide (~65% technicians/mechanics)
3
(1)At August 8, 2014
Vancouver (head office)
Edmonton
Fort McMurray
British Columbia
Yukon
Alberta
The Northwest Territories
Santiago
Antofagasta
Bolivia
Argentina
Chile
Uruguay
Cannock
United Kingdom
Ireland
2013 Financial StatisticsMarket Statistics(1) Revenue6.8BTickerFTT (TSX) EBITDA0.7BShare Price33.15FCF0.4B% 52-Week High97% EPS1.95ADTV0.5MInvested Capital3.1BMarket Cap5.7BNet Debt1.3BEnterprise Value7.1BROE19.7%S&P/DBRS RatingBBB+/A(low) ROIC15.7%Dividend Yield2.1% Dividend 10yr CAGR13.1%

4. Compelling Value Proposition
Passionate and committed employees
Right people in the right places to execute on the plan
Best products, best territories
Aligned with Caterpillar, world’s best heavy equipment company
Resource-rich territories with significant organic growth opportunities
Compelling business model
Machine population provides embedded product support growth
Customer diversification across many attractive sectors
Significant opportunity to improve operating performance
Going forward, profitability and working capital management will improve markedly
All priorities linked to improving return on invested capital
Opportunity to optimize and capitalize on historic investments with more disciplined approach
Opportunity to generate positive free cash flow throughout the cycle
Continued commitment to dividend growth
Long-term growth rate of 13%; increased dividend by over 16% in May 2014
4

5. Broadest Range of Quality Caterpillar Products
5
Over 300 equipment product lines

6. Market Leader in Most Desirable Regions
6
Revenue by region for six months ended Jun 30, 2014

7. Powerful, Sustainable Business Model
7

8. Diverse Customer Base
8
67% of new equipment deliveries from non-mining
* Agriculture, industrial and government segments

9. NEW FOCUS
Driving Return on Invested Capital

10. Operational Priorities
Service Excellence
Drives lowest equipment owning and operating costs
Maximizes equipment uptime and improves customer loyalty
Increases service profitability
Attracts and retains technical talent
Supply Chain
Competitive advantage as a world-class distributor
Efficient supply chain drives customer loyalty
Reduces costs and invested capital
Improves cash generation
Market Leadership
Builds machine population and drives future product support
Aligns with Caterpillar’s focus on market share growth
Expands focus to entire product line
Asset Utilization
Optimizes footprint and distribution of activities
Maximizes return on investments made
Improves service delivery
Reduces costs and invested capital
10
Market Leadership
Target Δ in 3 Years
Revenue Opportunity*
Core Equipment Market Share
2-4% 
1% share = $35M
Parts Market Share
2-4% 
1% share = $45M
Power Systems Revenue (Canada)
10-15% 
5% growth = $20M
Service Excellence
Target Δ in 3 Years
Consolidated EBIT $
$40 – 60M
Supply Chain
Target Δ in 3 Years
Working Capital Reduction
Inventory Turns
0.5 – 0.9x 
0.1 turn = $50M inventory 
* Assumes no industry growth

11. Service Excellence
Improve labour recovery
Enhance leadership, competencies and technical skills
Improve parts availability by leveraging supply chain efficiencies
Standardize processes and planning
Improve quoting to reduce bid variances
Implement consistent service delivery model in all branches
Governance, roles and responsibilities - clear accountability
Standard service rates and definitions
Enhance profitability visibility at branch level
Align compensation with customer loyalty and profitability
Progress Update
On target to roll out new service process to all branches in Canada
Sustaining new service model at Phase 1 locations: Mildred Lake, Fort McKay, Price George, Peace River, Grande Prairie
Started implementation in Phase 2 location, including Calgary and COE in Red Deer
Canada’s service labour recovery rate improved by 2 points since end of 2013
Service improvements in South America offset by softness in equipment sales
11
Action Plans and Progress Update

12. 12
Supply Chain
Canada - Reducing Lead Times and Transfer Points

13. Supply Chain
Focus on inventory management, network optimization and transportation efficiency
Completed 5 branches in 2013
Rolling out to 17 branches in 2014
Parts service levels at or above targets
24 hour service level at above 86%, up 6 points from 2013
72 hour service level at above 95%
Emergency orders at ~27%, down 6 points from 2013 levels
Number of touch points and velocity improved significantly in southernmost branches with direct shipment from Spokane
Reducing transportation costs despite higher parts volumes
~$1.5 million in annual savings from elimination of redundant truck trips
Rationalizing transportation providers - down 25% from 2013; target 50% reduction
13
Canada - Progress Update

14. Market Leadership
Core equipment market share up materially in all regions since the end of 2013
In Canada, core equipment market share up 5 points from last year
Better sales coverage – higher participation and closing of deals
Restructured incentive schemes motivate sales force
Improved inventory quality
Tier 4 equipment – great quality and attractive fuel efficiency
Growing market share through better execution; margins maintained
14
Progress Update

15. Asset Utilization
Allocating work and assets across facilities
Shovels and Drills moved from its Fort McMurray location into Mildred Lake branch; vacated building subleased
Power Systems moved from its Fort McMurray shop into local branch; location vacated
Prince George rental store will be moved to main branch in Q4 2014
Edmonton used equipment, machining and welding moved into Shovels and Drills location to free bays in West Edmonton branch for customer repairs
Centralizing new equipment preparation at COE in Red Deer
Optimizing service trucks fleet
Eliminated 20% of trucks
Moving trucks from low to high utilization branches
15
Canada - Progress Update

16. 16
All priorities are linked directly to EBIT or Invested Capital
Priorities Will Drive Improved Return on Invested Capital (ROIC)

17. 2006 2007 2008 2009 2010 2011 2012 2013
ROIC 27.6% 26.8% 15.0% 10.2% 15.3% 16.0% 16.5% 15.7%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
2006 2007 2008 2009 2010 2011 2012 2013
EBIT Margin 7.8% 8.3% 6.8% 5.5% 6.3% 6.3% 7.4% 7.7%
Inv. Cap. T/O 3.6x 3.2x 2.2x 1.8x 2.4x 2.5x 2.2x 2.0x
1.0x
2.0x
3.0x
4.0x
5.0%
6.0%
7.0%
8.0%
9.0%
Return on Invested Capital
17
Historical Performance
Results were adjusted to exclude discontinued operations
Economic
downturn
 Significant Investments:
- Drills & Shovels
- Fort MacKay
 Underperforming working capital
 ERP implementation

18. Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
42
47
53
52
50
51 51
48
41
2011 2012 2013 2014
45%
35%
TARGET
RANGE
Strengthening Balance Sheet
Positive free cash flow through the cycle
 Strong cash flow from operations
 Improving working capital primarily through
higher inventory turnover
 Capital expenditures to remain significantly
below 3-year average
 Strong operating cash flow comfortably
supports debt levels and investment grade
ratings
18
Target
Range
FCF per Share (dollars) Net debt to total capital ratio (%)
Net debt / EBITDA

19. 19
Important component of total shareholder return
Committed to growing dividend, consistent with sustainable earnings growth
Target payout ratio: 25-35%
10 year CAGR ~13%
5 year CAGR ~9%
Current dividend
Quarterly = $0.1775
Annualized = $0.71
Dividend yield ~2.1%(1)
0.20
0.22
0.28
0.36
0.43
0.44
0.47
0.51
0.55
0.5975
0.685
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Annual Dividends
Continued Commitment to Dividend Growth
(1) At August 8, 2014

20. 20
Finning International appointments
Gillian Platt, Chief Human Resources Officer
Dave Cummings, Chief Information Officer
Greg Palaschuk, VP Treasurer
Search in progress for new CFO
interim support from Anna Marks, Sr VP Controller
Finning Canada appointments
Chad Hiley, Sr VP Human Resources
John Pollesel, Sr VP Mining
Internal appointments
Branch manager, Grande Prairie, Canada
Branch manager, Sparwood, Canada
Head of power systems, South America
Ongoing focus on employee development and providing internal growth opportunities
Talent Management

21. FINSA
South America maintaining its EBIT margin despite significantly reduced business volumes
Significant reductions to workforce since mid-2013
Reached equitable agreement with shovels and drills employees – may have one off cost of a couple of million dollars in Q3
Reduced invested capital by ~ US$190M from last year
Tax reform in Chile expected to be enacted during H2
Monitoring status of proposals
Will evaluate impact on financial results and effective tax rate going forward once changes are substantively enacted
Argentina – continues to be problematic
Devaluation of the Argentine peso has increased our effective tax rate
21
Responding well to challenging market conditions

22. FINSA
Business conditions expected to remain challenging
Mining
Mines are increasing production
New equipment sales expected to be soft; product support activity stable
Codelco will invest US$4B for 2014-18 - should also drive large contractor activity
Government infrastructure projects US$28B over the next 7 years – expect some order activity next year
Energy opportunities:
Argentina – shale gas (elections in 2015)
Chile – renewables
22
Outlook

23. Key Takeaways
Finning has a great business model with resource rich territories; general economic trends support continued growth
Focus on what we can control: costs, working capital and capital investment
Significant increase in invested capital has offset profitability improvements over last three years
Opportunity to materially increase Return on Invested Capital over time
Improved profitability, primarily in Canada
Working capital management
Improved capital discipline
Operational priorities linked to improving Return on Invested Capital; team aligned and executing
23

24. APPENDIX

25. Oil Sands
25
Benefitting from ongoing projected growth
Source: CAPP (Canadian Association of Petroleum Producers)

26. Western Canada LNG
26
Seizing new business opportunities
Projects proposed to transport gas from Western Canada to Asia1
Investment
LNG Canada (Shell, Korea Gas, Mitsubishi, PetroChina)
+28B
Pacific NorthWest (Petronas, Sinopec, Japex, Indian Oil)
+20B
Kitimat LNG (Chevron & Apache)
+11B
1Source: Finning Estimates

27. Copper in Chile
27
Participating in long-term growth
Source: Wood Mackenzie

28. “The UK economy showed clear signs of recovery during 2013 and we expect this to continue in 2014-15. All major industry sectors and regions are now showing positive growth trends.”
PwC; July 2014
“We anticipate that the UK's economic recovery will continue to broaden, benefiting the public finances.” S&P upgraded its outlook on the U.K.'s triple-A credit rating from negative to stable.
S&P; June 13, 2014
“UK economy settling into above-trend growth.”
OECD; May 13, 2014
“We expect to see marked improvements in British business investment and productivity.” Britain's top business lobby upgraded its economic growth forecasts for 2014 and 2015.
CBI; May 11, 2014
Reasons for Optimism in the U.K.
28
UK Real GDP (% Change)
Source: Economist Intelligence Unit; Jul 14, 2014
-5.21.71.10.11.73.12.5-6.0-4.0-2.00.02.04.0200920102011201220132014F2015F

29. Q2 2014 Results
29
Earnings
C$ millions
Q2 2014
Q2 2013
% change
Revenue
1,768
1,620
9
Gross profit
523
513
2
GP margin
29.6%
31.7%
SG&A
(388)
(392)
1
SG&A as % of revenue
(22.0)%
(24.2)%
Equity earnings
3
4
Other income (expenses)
(1)
(3)
EBITDA
190
176
8
EBIT
137
125
12
EBIT margin
7.8%
7.6%
Net income
86
83
4
Basic EPS
0.50
0.48
4
Improved profitability in Canada
South America maintained EBIT margin despite significantly reduced business volumes
Solid quarter; more work to be done on operational priorities

30. Q2 2014 Results
30
Invested Capital
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Inventory ($ millions)
1,835
1,945
1,756
1,904
1,978
Inventory turns (times)
2.56
2.61
2.74
2.44
2.23
Invested capital(1) ($ millions)
3,334
3,414
3,138
3,342
3,443
Invested capital turnover (times)
2.12
2.06
2.04
2.03
2.01
Free cash flow ($ millions)
123
(134)
365
163
7
Working capital to sales ratio (%)
25.5
26.3
26.5
26.7
26.7
Return on invested capital (%)
16.0
15.4
15.7
15.8
15.8
Net debt to invested capital (%)
40.9
42.9
40.8
47.8
50.6
Good progress on capital efficiency initiatives
Improved invested capital turnover driven by Canada and UK & Ireland
Strong free cash flow in Q2/14 driven by South America
Net debt to invested capital ratio comfortably within target range
(1) Calculated at end of period