Investor Conference Call August 28, 2017

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 materially from 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 cycle risk, including general economic conditions in the countries in which Toromont operates; risk of commodity price changes including precious and base metals; risk of changes in foreign exchange rates, including the Cdn$/US$ exchange ate; risk of thetermination of distribution or original equipment manufacturer agreements; risk of equipment product acceptance and availability of supply; risk of increased competition; credit risk related to financial instruments; risk of additional costs associated with warranties and maintenance contracts; interest rate risk on financing arrangements; risk of availability of financing; risk of environmental regulation. Additional information on these factors and 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 2016 contained in the 2016 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.

Forward-looking information and statements contained herein about prospective results of operations, financial position or cash flows are presented for the purpose of assisting Toromont's shareholders in understanding managements' current view regarding thosefuture outcomes and may not be appropriate for other purposes. 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 their intended 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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Forward-looking Statements

Toromont to Acquire Hewitt Equipment

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Transaction is valued at $1.0177 billion

Represents Toromont’s most significant milestone

Toromont and Hewitt have complementary operations and customer service model

Supported by Toromont’s strong balance sheet

Driven by growth opportunities and trend towards industry consolidation

Putting Transaction in Perspective

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Largest Toromont acquisition

Largest Caterpillar dealer transaction

Serves as a testament to the successes of Toromont and Hewitt

$1.0177 BTotal consideration

Complementary Operations to Toromont

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Toromont

100 locations3600 employees

Hewitt Group

45 locations2100 employees

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Opportunity to extend Toromont’s decentralized operating model

Hewitt at a Glance

Founded in 1952 Authorized Caterpillar dealer in Quebec

and Western Labrador – Hewitt Cat Authorized Caterpillar dealer in the

Maritimes – Atlantic Cat Authorized MaK dealer in Quebec,

Maritimes & eastern U.S. (ME to VA) Authorized MCFA dealer (Lift) in Quebec

and most of Ontario 45 branches 2000+ employees

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Complementary operations to Toromont

Complementary Operations to Toromont

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Sectors MiningConstructionEnergyForestry

ServicesSalesRentalsMaterial handlingService & Support

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Share similar values, customers and processes

Hewitt’s Financial Performance

8 8

$0

$200

$400

$600

$800

$1,000

$1,200

2014 2015 2016

3-yr Revenue Results ($millions)

Principal markets recovering from downturn in 2012

$34.0

$56.9

$66.4

$0.0

$10.0

$20.0

$30.0

$40.0

$50.0

$60.0

$70.0

2014 2015 2016

3-yr EBIT Results ($millions)

$1,088$1,108 $1,049

Hewitt’s Diversified Results

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Heavy Equipment

65%

Truck4%

Energy 12%

Material Handling

11%

HRI8%

Parts36%

Service10%

New Machine

Sales32%

Used Machine Sales13%

Rental9%

Diversified revenues contribute to steady performance

Hewitt FY 2016 Revenue by Division

Hewitt FY 2016 Revenue by Product Line

Toromont’s Expanded Presence

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Significant heavy equipment dealer spanning Eastern Canada

New markets• Quebec• Western Labrador• The Maritimes

Current markets• Manitoba• Nunavut• Ontario• Newfoundland & Labrador

How Transaction Will be Funded

Settlement upon close: 2.25 million Toromont shares Cash on hand Committed bank credit facility Bond offering to be launched in

coming weeks

$1.0177BTotal consideration

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Possible due to Toromont’s strong balance sheet

Opportunities for Growth

$91Bin infrastructure spending pledged by Québec government over next 10 years

Plan Nord

Recovery of commodity prices

Opportunities for synergies

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Favorable long-term outlook

Significant Mining Operations

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Quebec is home to 3 mining regions

Presence of precious, base and ferrous metals – diversity contributes balance

Hewitt has strong relationships with customers

Large customer fleets

Opportunities to expand operations and capitalize on sector turnaround

Summary

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Transaction is valued at $1.0177 billion

Represents Toromont’s most significant milestone

Toromont and Hewitt have complementary operations and customer service model

Driven by growth opportunities and trend towards industry consolidation

Supported by Toromont’s strong balance sheet

Q&A

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For more information contact:

Paul R. JewerExecutive Vice President and CFOToromont Industries Ltd.(416) 514-4790pjewer@toromont.com

For media inquiries:Nini KrishnappaT (647) 828-2553nkrishnappa@national.caorAndrea Danielle WongT (514) 843-2384awong@national.ca

Investor Conference Call August 28, 2017