newalta presentation13

CIBC EASTERN INSTITUTIONAL INVESTOR CONFERENCE SEPTEMBER 19, 2013

This presentation contains forward-looking statements which are based on current views and assumptions and are subject to uncertainties which are difficult to predict. These forward-looking statements include future operating and financial results, business prospects and strategy, realization of anticipated benefits of growth capital investments, acquisitions and technical development initiatives, industry conditions, the amount of dividends declared or payable in the future and future capital needs. Please refer to Newalta’s continuous disclosure documents for reference to certain risks, uncertainties and assumptions which may cause actual results and performance to differ materially from future results and performance that may be expressed or implied by these forward-looking statements.

This presentation also contains references to certain financial measures that do not have any standardized meaning prescribed by International Financial Reporting Standards and may not be comparable to similar measures presented by other corporations or entities. These financial measures are identified and defined in Newalta’s continuous disclosure documents.

FORWARD LOOKING STATEMENTS

UNIQUE BUSINESS MODEL Engineered environmental solutions Partnering with customers Focus on recovery and recycling

INDUSTRY LEADER

Average 25% growth per year Grew to >2000 people, 85 locations,

>250 operating permits Increased dividend Committed to innovation Developed onsite business model

INVESTMENT HIGHLIGHTS

Expect average annual growth of ~15% Excellent organic growth opportunities:

• Grow onsite contracts • Develop U.S. business • Add and expand facilities • Commercialize new processes

GROWTH OPPORTUNITIES

THREE GROWTH ENGINES

Leading our growth North American energy market is a key opportunity First-mover position

NEW MARKETS

Onsite contract model, recovery at source

Cost and environmental benefits Market leader in SAGD

slop-oil processing Well positioned for growth

NEW MARKETS – HEAVY OIL

Expanded to oil sands mining sites to treat mature fine tailings

Secured long-term contracts with Shell and Syncrude

NEW MARKETS – HEAVY OIL

NEW MARKETS - U.S.

Apply proven processes and business model

Grow onsite contracts Build satellites and facilities

Delivers strongest returns Growing stable cash flow through long-term onsite contracts First-mover position will drive growth of >20% per year

NEW MARKETS GROWTH

($ million) 2010 2011 2012

Revenue 99 139 189

Divisional EBITDA 38 54 80

EBITDA growth 42% 48%

EBITDA/Assets 48% 43% 42%

Growth capital invested 14 27 67

Network of 30 facilities with excellent market coverage Strong customer relationships Expand onsite services and add satellite facilities to match demand Grow revenue 15% per year

OILFIELD

Deliver broad range of services to industrial customers

Network of integrated facilities across Canada

Modest growth through 2016 • Maximize returns • Expand onsite services • Capacity expansions

INDUSTRIAL

Grow onsite contracts Grow U.S. business Add mobile satellite and

fixed facilities Commercialize new processes

GROWTH SUMMARY

Revenue up 15%, Adjusted EBITDA up 27% Contributions from growth investments drove improvements Adjusted EBITDA in second half is expected to be at least 20%

higher than last year

Q2 FINANCIAL PERFORMANCE

Balanced growth with low risk and high return

Total Debt to Adjusted EBITDA target of 2.0

Trading at ~1.2X BV/share Total shareholder return of 20%

per year since 2010

INVESTMENT HIGHLIGHTS

TSX:NAL

As at Sept 11, 2013

Market capitalization $849 million

Share Price $15.41

Shares outstanding 55.1 million

52-week high-low $12.41 - $16.39

Dividend (Annualized) $0.44/share

Yield 2.9%

Book value per share $12.12

INVESTOR RELATIONS PRESENTATION – SUMMER 2013