The ShawCor Difference

STRONGFUNDAMENTALS

FUNDAMENTALSTRENGTHS

Investor PresentationJune 2013

2

Global Leadership

The global leader in pipe coating and related products/services

Over 8,000 employees operating in 25 countries

Strategic Global Locations

Strategically positioned to serve all global basins

Proprietary Technology

248 Issued Patents and 169 Patents Pending

Subsea Test Facility and Mobile Plant Technology

Excellent Execution

Solid track record of reliable execution

Commercial and technical relationship with all global players

Superior Financial Performance

2012 revenue of C$1,482 million and EBITDA of C$266 millionTotal Return to Shareholders significantly above market return

ShawCor at a GlanceA global leader in energy services

3

The company

The market opportunity

The strengths

The future

Agenda

4

>80 >80 Locations

2525

Business Units 88

Employees1 >8000>8000

ShawCor Quick Stats

Countries

Market capitalization 2 >$2.5B>$2.5B

1 Estimated2 As May 16, 2013 5

Bredero ShawCoatings- corrosion protection- insulation- weight / protective- internal flow efficiency

GuardianDrill pipe/tubularinspectionInventory management services

FlexpipeFlexible composite pipe for:- oil and natural gas

gathering lines- oilfield water and

fluids

PIPELINE & PIPE SERVICES

DSG-Canusa

Heat shrinktubing for sealing and protection

ShawFlex

Control, instrumentationcable

PETROCHEMICAL& INDUSTRIAL

Canusa-CPS

Weld inspection- radiographic- ultrasonic

Shaw Pipeline Services

Joint protectionPipe coating materials

Eight Business Units– All Ranked #1 or #2

Socotherm*Coatings- corrosion protection- weight / protective- thermal insulation

* As of Oct 20126

Active in All High Growth Segments

7Rehabilitation

Deepwater Offshore LNG

Shale

Conventional Potable Water

Enhanced Recovery (EOR)Oil Sands

Technology Sets Us Apart

248 Issued Patents – 57 technologies

169 Patents Pending – 51 technologies

86 Proprietary Formulations

20 Scientists at Corporate Laboratories

Subsea Test Facility

Mobile Plant Technology

8

New Energy Sources Drive Need for New Technologies

Insul-8® HT

Oil Sands /Heavy Oil

Thermal insulation for high temperature bitumen, heavy oil and hot liquids lines

ChallengingEnvironments

Proprietary flexible mechanical protection for rocky terrain eliminating need for trench padding Rock Jacket®

OffshoreConcrete Weight Coating provides seabed stability and pipeline protection

Thermotite® ULTRA™

DeepwaterProprietary passive insulation coating provides flow assurance for unprocessed oil and gas

HeviCote®

9

Capability Sets Us Apart

10

Uniquely Capable to Serve the Largest Projects

Major Expansions/Upgrades Completed in 2012

Complete ‘Pipe Mill to Pipeline’ Logistics

Full Product Array and Back-up Facilities

Reduce Client’s Construction Schedule Risk and Pipeline Performance Risk

New MLPP plant in Kabil

Expanded Deepwater wharf in KabilExpanded Kuantan pipecoating facility Two major facilities in Asia/Pacific

The company

The future

The market opportunity

The strengths

Agenda

11

Growth in energy demand (1.3% per annum)1

Rising depletion (6.7%-7.5% per annum)2

New sources in more“challenging” locations

Increasedinvestment in pipeline

infrastructure

DEMAND

DEPLETION

TECHNOLOGY

1 Source: EIA 2011-2035 2 Avg. production-weighted worldwide decline rate for past-peak oil, gas fields – IEA WEO 2008, 2009

Key Pipeline Drivers

The Market Opportunity

12

$0

$50

$100

$150

$200

$250

$300

$350Pipeline Investment

(US$ billions)

Source: Oil and Gas Journal,Douglas Westwood

Structural Change in Pipeline Infrastructure

Increased ActivityBigger Projects

Structural change is taking place13

The company

The market opportunity

The future

The strengths

Agenda

14

1. CLOSE W ITH CL I ENTSClient Relationships and Track Record

Strong relationships with all major global players

Americas EMAR Asia Pacific

* Partial list only15

1. CLOSE W ITH CL I ENTSWorldwide footprint strategically located to service global basins

Coating Facility

Portable Plant

Other Operating Facility

Sales Location

Socotherm Location

75+ Global locations16

Effective Acquisition Program

New Growth Platforms ‘Flexpipe’

Geographic Expansion ‘Brazil’

Expanded Services ‘ShawCor CSI’

Socotherm Acquisition

Brazil, October 2010 CSI, March 2011

Flexpipe, July 2008

Socotherm, Oct 2012

17

The ShawCor Manufacturing System

18

Systems for Reliable Project Execution

A Process for Continuous Cost

Reduction

Standard Program Across ShawCor

“SMS” Currently Generates >$20

million in Annual Savings

SMS 2012 Launch

ShawCor Delegates at Dallas ConferenceSMS Achievement Award Daily Management Process (DMP)

Cash flow > $1 Billion from operations (5 yr)

Term Debt $350 Million 10.4 years @ 3.65%

Cash Position + Credit Facilities to fund growth > $400 Million

Net Resources Competitive Advantage

Able to Simultaneously Execute:

The Largest ProjectsGeographic ExpansionNew TechnologiesNew Product ProgramsAcquisitions

4. F I NANC IAL STRE NGTH

Financial Strength

19

The company

The market opportunity

The strengths

The future

Agenda

20

Unprecedented Bidding Activity

Umm Al Lulu & Al Nasr

Pacific TrailsNorthern Gateway

Trans Mountain Expansion

Guara Lula Sapinhoa

Chevron IDD

South Stream

Baydaratskaya Bay

SarbPTT Provincial Transmission,PCSB & PTTEP

Vega Pleyade

Shah Deniz II

Shell Malikai

Hess EquusMozambique LNG

Gas Balancing Evacuation

ENI Jangkrik

Both large projects and frame agreement business active21

Pacific Gas Pipeline

Spectra Energy

Maersk Chissonga

Enbridge Sandpiper

Husky MaduraShell Prelude

Chevron Rosebank

Pertamina Lawe Lawe

Galich Manturovo Sharya (GMS)

* Partial list only

Lianzi

Exxon Julia

Mad Dog

Hadrian North

New Millennium Iron OreTCPL Coastal Gas Link

Moho Nord Kizomba SatelliteT.E.N

Edvard Grieg

Erha

Mafumeira do Sul

Growth Opportunity - Deepwater

Santos Pre-Salt

Gulfaks Sor Ortje

Visund

15/06 Western HubKizomba Satellites

Lianzi

WDDM Ph 9

Erha Ph 2

Mad Dog

Moho Nord

Hadrian North Ph 2

Hebron Ph 3

Egina

Block 31, 32

Linnorm

Mallikai (Block G)

Block 18/Plutonio

Kodiak

Lucapa

Gendalo/Gehem

Rosebank

Luva Oseberg Delta

Liuhua 16-2Pony

Equus

Kraken

Jangrik

T.E.N.Satellites

Deepwater CAPEX of $223 billion expected over the next five years1

1 Douglas-Westwood

Global leader in deepwater insulation coating22

Growth Opportunity - LNG

SABINE PASS LNG

ARROW LNG

BRASS LNG

KITIMAT LNG

OLOKOLA LNG

YAMAL LNG

FISHERMANS LANDING LNG

GULF LNGDARWIN LNG

PILBARA LNG

Brunei LUMUT II LNGMalaysia T9 LNG

EG T2 LNG

CAMEROON LNG

Damietta 2 LNG

TANZANIA LNG

LNG CANADA

MOZAMBIQUE LNG

PACIFIC NORTHWEST LNGBG GROUP LNG

KITSAULT LNG

VLADIVOSTOK LNG

SHTOKMAN LNG

ADGAS LNG

Algeria LNG

Arun LNG Bontang LNG

ATLANTIC LNGBrunei LNG

Damietta LNG

Egyptian LNGQATARGAS LNG

KENAI LNG

Marsa El Brega

Malaysia LNG

Nigeria LNG

Nordic LNG

Northwest Shelf LNG

Qalhat LNG

Pluto LNGPERU LNG

RASGAS LNG

SAKHALIN LNG

Snohvit LNG

Tangguh LNG

Yemen LNG

ANGOLA LNG

AUSTRALIA PACIFIC LNG

DONGGI SENORO LNG

GLADSTONE LNGGORGON LNG

ICHTHYS LNGPNG LNG

QUEENSLAND CURTIS LNGWHEATSTONE LNG

CAMERON LNGFREEPORT LNG

LAKE CHARLES LNG

DCEP LNG

DOMINION COVE POINT LNG

GULF COAST LNG

OREGON LNG

OPERATINGUNDER CONSTRUCTIONPLANNED

Global LNG demand to increase by 200 mtpa by 2025 = 23 “Wheatstone’s”1

Global gas demand to increase 43% to 20302

1 World LNG Report 2011, LNG 17 2012, Chevron Wheatstone Project Overview2 BP Energy Outlook 2013

LNG growth = New pipeline infrastructure23

Growth Opportunity – Global Shale

SOURCE: PACWEST CONSULTING PARTNERS

Will account for about 46% of US Natural Gas production by 203570% of global shale deposits are outside North America

$2.6 Billion market opportunity to drive Flexpipe growth24

Growth Opportunity - Aging Pipeline Infrastructure

10% of ShawCor’s land pipeline coating revenue is for pipeline replacement and is a rapidly growing segment

25

Derived from http://chartsbin.com/view/1322

Source: Douglas-Westwood

Entering Global Expansion Up-Trend

$C millions

Revenue and margins expected to grow in 2013 and beyond

$591 $664 $699

$747

$1,013 $1,060 $1,048

$1,380

$1,184

$1,034 $1,138

$1,482

11% 12%

15% 15% 14%

18%19% 19%

21%

16%

12%

18%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Revenue

EBITDA (%)

26

Highlights Q1 2013

27

All values in C$ millions, except EPS

Revenue $ 454.7 +46%

EBITDA $104.3 +139%

EPS $ 1.01 +197%

Backlog $ 875 +30%

• Excellent Execution and Backlog Increase• Acquired Remaining 49% of Socotherm GOM• Increased Dividend 25%

Strong Returns = Sustainable Growth

0%

5%

10%

15%

20%

25%

30%

35%

40%

Q1-

08

Q2-

08

Q3-

08

Q4-

08

Q1-

09

Q2-

09

Q3-

09

Q4-

09

Q1-

10

Q2-

10

Q3-

10

Q4-

10

Q1-

11

Q2-

11

Q3-

11

Q4-

11

Q1-

12

Q2-

12

Q3-

12

Q4-

12

Energy Equipment & Services Industry SCL

Return on Net Operating Assets

28

Why Invest in ShawCor

ShawCor is the Global LeaderEstablished Record of Superior Shareholder ReturnsAttractive Industry Fundamentals

29

The ShawCor Difference

STRONGFUNDAMENTALS

FUNDAMENTALSTRENGTHS

Investor Presentation

June 2013