This document provides a summary of a presentation given by Dave Smith, EVP & CFO of Finning International Inc., at the Raymond James Infrastructure & Construction Conference on May 23, 2012. The summary includes information on Finning's strategic priorities, outlook, and growth opportunities, as well as details on its Bucyrus acquisition and projections for mining fleet growth in Canada and South America through 2016. Forward-looking statements are provided but are subject to various risks and uncertainties that could cause actual results to differ from expectations.

1. Raymond James Infrastructure & Construction Conference
Dave Smith, EVP & CFO
May 23, 2012

2. Forward Looking Information
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 and SG&A
levels and EBIT growth; anticipated generation of free cash flow (including projected net capital and rental expenditures), and its expected use; anticipated defined benefit plan contributions;
the expected target range of Debt Ratio; the impact of new and revised IFRS that have been issued but are not yet effective; the expected timetable for completion of the proposed
transaction between the Company and Caterpillar to acquire the distribution and support business formerly operated by Bucyrus in Finning‟s Canadian dealership territory; growth prospects
for the former Bucyrus business being acquired by the Company in Finning‟s dealership territories (Bucyrus) and the competitive advantages of the business being acquired; expected future
financial and operating results generated from Bucyrus; anticipated benefits and synergies of Bucyrus; the expected financing structure for the Bucyrus transaction in Finning (Canada); and
the expected impact of Bucyrus on Finning‟s earnings. 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 describe Finning‟s expectations at May 23, 2012. 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 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 successfully integrate the distribution and support business formerly operated by Bucyrus after that transaction closes; 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, and availability of information technology and the data processed by that technology; operational benefits from the new ERP system. 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 the 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 the Company‟s current Annual Information Form (AIF) in Section 4.
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.
All amounts in this presentation are in Canadian dollars unless otherwise noted
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3. Finning International Inc. (TSX:FTT)
 World‟s largest Caterpillar dealer operating Canada
in some of most resource-rich territories ~50%
 3 regions, 7 countries; 14,000 employees Yukon The Northwest
Territories
 Key industries
 Mining (oil sands, copper, coal) South America Fort McMurray
British
~35% Columbia Alberta
 Construction Edmonton
 Power systems Bolivia
Antofagasta Vancouver
 Unrivalled product support capability and Chile
(head office)
customer relationship Argentina
Uruguay
 Well-positioned to capture growth Santiago
UK & Ireland
 Market cap ~ $4.1 billion ~15%
United
 2011 revenue = $5.9 billion Ireland
Kingdom
Cannock
 Quarterly dividend = $0.14 per share
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4. Strategic Priorities
 Improve operating profitability
in Canada
 Drives 9-10% EBIT margin
in 2013
 Strengthen balance sheet
New Fort McKay oil sands service facility:
 Optimize strong free cash flow 16 bays, 160,000 sq. ft.
to de-leverage
 Integrate Bucyrus successfully
 Capture growth opportunities
in product support
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5. Bucyrus Distribution Business
 Excellent strategic fit
 Mining solutions provider - broadest
product portfolio
 Leverage existing customer base -
strong market share in South America
and Canada
 Significant product support growth
opportunities
 Bucyrus contribution
 2012 revenue ~$270 million
(2012 calendar year ~$700 million)
 Accretive to 2012 EPS
 Expect EBIT margin of 7-8% within
two years
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6. Capturing Growth
 Growth within all our markets
 Mining equipment population to grow by ~50% over next 5 years
 Oil sands: new projects, fleet replacement, rebuilds
 Chile mining: ~$100B projected investment over next 10 years
 Heavy construction – infrastructure projects
 Power systems – demand for energy; value-added services
 Growth with Caterpillar
 New products: Bucyrus, 795F electric drive truck
 New businesses: truck bodies in FINSA
 Growth in product support
 Growing fleets of large mining equipment with high parts and service
consumption
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7. Outlook
 Expect robust market activity across most sectors in 2012
 Revenues (including Bucyrus) to grow by 8-10% over 2011, led by strong
product support
 Canada
 Executing on ERP recovery plan and eliminating incremental costs
 Expect continued improvement in EBIT margin throughout 2012
 South America
 Strong product support driving profitability, new equipment sales moderate
from 2011
 Argentina: reduced construction volumes not expected to have material
impact on consolidated revenues and earnings
 UK & Ireland
 Uncertain economic environment
 Market segmentation strategy: higher margin opportunities in equipment
solutions and power systems 7

8. Appendix
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9. Q1 2012 Highlights
 Q1 results in line with expectations, very good start to the year
 Healthy market conditions continue in all territories
 New equipment sales moderated from record-setting Q4
 Strong order intake in Q1
 Backlog up 11% to $1.6 billion at the end of March
 Record product support revenues
 Large installed based of mining and construction equipment
 Strong activity driving high utilization rates
 Excellent results from FINSA and UK & Ireland
 EBIT margins close to 2013 targets
 Strong top line in Canada, sequential improvement in quarterly EBIT margin
 Progress on optimizing the ERP system and eliminating incremental costs
 Negative free cash flow of $223 million to support higher working capital
requirements
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10. Cash Engine for Growth
Strong cash flow from operations
EBITDA ~ $500 - 800M per year*
Cash for Growth
Disciplined
capital spending
 Dividends Enhanced
focus on
~ $100M per year*
 Reduce debt working capital
management
 Acquisitions
Net rental additions
~ $100-$150M per year*
* Averages over economic cycle 8

11. Oil Sands Mining Fleet Growth
Additional CAT
Caterpillar Units Total Units Finning’s
Equipment Type at Dec 31, 2011 at Dec 31, 2011 Market Share
Units Projected
2012 to 2016*
400 Ton Trucks (797) 243 276 88% 127
320 – 340 Ton Trucks (future 795F/MT5500) 130
240 Ton Trucks (793) 156 180 87% 57
100 – 200 Ton Trucks (777-789) 400 408 98% 158
Ultra Large Tractors (D11 & D10) 287 316 91% 155
Large Tractors (D8 & D9) 243 273 89% 104
Ultra Large Graders (24) 89 89 100% 78
Large Graders (16) 83 84 99% 49
Total 1,501 1,756 728
Projections include the existing projects and their expansions, as well as
contractor equipment for: Syncrude (Base & Aurora), Suncor (Steepbank &
Millennium), Shell/Albian (Muskeg River & Jackpine), CNRL (Horizon),
Exxon/Imperial (Kearl), Suncor/Total (Fort Hills)
* Includes units projected from 2012 to 2016, incremental to units at Dec 31, 2011 11

12. FINSA Mining Fleet Growth
Additional CAT
Caterpillar Units Total Units Finning’s
Equipment Type at Dec 31, 2011 at Dec 31, 2011 Market Share
Units Projected
2012 to 2016*
Ultraclass Trucks Size (797-795) 212 508 55% 260
Large Mining Trucks (793 – 777) 749 1,208 69% 328
Large Wheel Loaders (994 – 992) 151 236 71% 37
Large Wheel Dozers (854 – 824) 137 253 84% 64
Track-Type Tractors (D11 – D9) 301 535 60% 138
Motor Graders (24 - 16) 152 253 71% 62
Underground 120 400 37% 90
Total 1,822 3,393 59% 979
* Market share, PINS rolling 12 months as of June 2011.
** Caterpillar projected includes units forecast for FINSA from 2012 till 2016 which are incremental to units at December 31, 2011. These projections
constitute “forward-looking information” which reflect the current view of Finning of future events and are subject to risk and uncertainties. Actual
results could differ materially from current expectations.
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