CIBC Annual Eastern Institutional Investors Conference

September 27, 2018

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Forward-looking Statements

Statements and information herein that are not historical facts are "forward-looking information". Words such as “plans”, “intends”, “outlook”, “expects”, “anticipates”, “estimates”, “believes”, "likely", “should”, "could", "will", "may" and similar expressions often identify forward-looking information and statements. Forward looking statements and information may include, without limitation, statements regarding the operations, business, financial condition, liquidity, expected financial results, performance, obligations, market conditions, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of Toromont and its business units.

Forward-looking information and statements contained herein are based on, among other things, Toromont management's current assumptions, expectations, estimates, objectives, plans and intentions regarding projected revenues and expenses, the economic, industry and regulatory environments in which Toromont operates or which could affect its activities, Toromont's ability to attract and retain customers as well as Toromont's operating costs and raw materials supply. By their nature, forward-looking information and statements, and the factors upon which they are based, are subject to risks and uncertainties which may be beyond Toromont's ability to control or predict. Actual results or events could differ materiallyfrom those expressed or implied by forward-looking information and statements. Factors that could cause actual results or events to differ from current expectations include, among others: business cycles, including general economic conditions in the countries in which Toromont operates; commodity price changes, including changes in the price of precious and base metals; changes in foreign exchange rates, including the Cdn$/US$ exchange rate; the termination of distribution or original equipment manufacturer agreements; equipment product acceptance and availability of supply; increased competition; credit of third parties; additional costs associated with warranties and maintenance contracts; changes in interest rates; the availability of financing; potential environmental liabilities of the acquired businesses and changes to environmental regulation; failure to attract and retain key employees; damage to the reputation of Caterpillar, product quality and productsafety risks which could expose Toromont to product liability claims and negative publicity; new, or changes to current, federal and provincial laws, rules and regulations including changes in infrastructure spending; and any requirement of Toromont to make contributions to the registered funded defined benefit pension plans, postemployment benefits plan or the multi-employer pension plan obligations in which it participates in and acquired in excess of those currently contemplated. Risks and uncertainties related to the 2017 significant acquisition could also cause the actual results to differ materially from the estimates beliefs and assumptions expressed or implied in the forward-looking statements, including but not limited to: changes in consumer and business confidence as a result of the change in ownership; the potential for liabilities assumed in the acquisition to exceed our estimates or for material undiscovered liabilities in the 2017 acquisition; the potential for third parties to terminate or alter their agreements or relationships with Toromont as a result of the acquisition; and risks related to integration of the acquired operations with those of Toromont including cost of integration and ability to achieve the expected benefits. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these factorsand other risks and uncertainties that could cause actual results or events to differ from current expectations can be found in the “Risks and Risk Management” and “Outlook” section of Toromont’s annual MD&A for 2017 contained in the 2017 Toromont Annual Report. Other factors, risks and uncertainties not presently known to Toromont or that Toromont currently believes are not material could also cause actual results or events to differ materially from those expressed or implied by forward-looking information and statements.

Readers are cautioned not to place undue reliance on the forward-looking information and statements contained herein, which are given as of the date of this document, and not to use such information and statements for anything other than theirintended purpose. Toromont disclaims any obligation or intention to update or revise any forward-looking information or statement, whether the result of new information, future events or otherwise, except as required by applicable law.

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Multiple Growth Platforms

Construction Industries

Resource Industries

EQU

IPM

ENT

GR

OU

P

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Long-term Business Growth & Returns

Foundational

Acquisitions(Continuing Ops)

Crothers

1993

Battlefield

1996

Newfoundland Tractor

1997

Powell

2001

Hewitt/Atlantic

2017

TIH

50th

10 Yr TSR CAGR*:

Toromont 16.2%

S&P/TSX 5.2%

*TSR determined based on 10 years to Sept. 24/18

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Business ContributionRevenues

• Combined CAT dealership represents 70% of revenues

• Rental services business contributes 15%

• 2017 acquired businesses contribute 40%, representing significant opportunity

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Contributions Rounded to nearest 5%

Will not add to 100% due to rounding

Toromont Today

$3.4BProforma R12 Revenues

to June 2018

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Diversified Customers & Services

* R12 June 2018, pro forma basis

Product Support is a

significant component of the

Toromont business model

Construction37%

Mining 21%

Power Systems 9%

Rental Services 13%

CIMCO 10%

Other9%

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Strong Dealer Network

60 Toromont CAT LocationsHistory of Successful Consolidation

>250 Brands >28,000 Items72 Locations

5,000+ Members

DEDICATED TEAM DELIVERS

SPECIALIZED EQUIPMENT

AND MUCH MORE

132 Locations

Equipment Group

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Good progress on broad fronts:

• Branding

• Structure

• Operating Disciplines

• Shared Services

• Systems

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Approaching a Year…

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Structure – Toromont Cat

Central Region

• Leadership appointed

• Runs with limited

integration distraction

Power Systems – Pan organizational structure implemented

Product Support – Service

• Leadership appointed

• Opportunity to leverage best

practices across org

• Manage REMAN as a portfolio

Product Support – Parts & Logistics

• Leadership appointed

• Opportunity to leverage best

practices across org

• Evaluate Supply Chain Efficiency

Quebec Region

• Leadership appointed

• Decentralized branch

structure announced

Atlantic Region

• Leadership appointed

• Decentralized branch

structure implemented

• NL integrated with

Maritimes to form a

true Atlantic Region

Mining Division – Pan organizational structure announced

Balanced Approach to Leadership Selection

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• Fully rolling out Battlefield Model across Quebec and the

Maritimes

• Separate Rental Services business from Heavy Equipment

Dealership

• Management consolidated and integrated

• Battlefield systems in final stages of francisation for Q4

implementation

• Increased investment in rental fleets

– including expansion of allied products

• Leveraging existing facilities with view

to expansion opportunities

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Battlefield Update

250+ brands including:

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$1,800

$300$160

$2,260

$234 $49 $31 3140

500

1,000

1,500

2,000

2,500

Battlefield Heavy Rent Power Total

Total market* Toromont revenue

Rental Market Opportunity

Renta

l R

evenues $

Mill

ions

13% 16% 19% 14%

R’12 Revenues to Jun. 30/18

* Market Size based on internal management estimates

Significant

growth

opportunity

Equipment Group

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• All rebranded Toromont – Toromont Material Handling and

Manutention Toromont

• Separating Material Handling business from Heavy Equipment

Dealership

• Planning for systems integration – currently three platforms

• Increased investment in rental fleets

• Key to success is an efficient organization

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Material Handling Update

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AR

AL

FL

Revenue Split(2017)

WI

IL

MS GA

SC

NC

PA

ME

VTNH

RI

VAVW

MI

DENJ

MA

Over 100 Years Of Serving

Refrigeration Markets

Recreational

27%Product Support

41%

Industrial

32%

► Strong industrial customer base

► Leader in recreational systems

US Sales Coverage400 Mile Sales Ring

Note: Total of 21 CIMCO locations not reflected in map above due to overlapping markets resulting from close proximity of locations.

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Investment Highlights

Market Leading Brands And Position

Product Support Provides Stability

Superior Financial Track Record

Strong Balance Sheet

Growth Opportunities In Diversified Segments

50 Year Dividend Record, 29 Of Consecutive Growth

Continuous Focus on Operational Excellence

CIBC Annual Eastern Institutional Investors Conference

September 27, 2018