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Statement Regarding Forward-Looking Information

This presentation contains forward-looking information within the meaning of applicable securities laws. Words such

as "may", "will", "should", "anticipate", "plan", "expect", "believe", "predict", "estimate" or similar terminology are used

to identify forward-looking information. This forward-looking information is based on assumptions, estimates and

analysis made in the light of the Company's experience and its perception of trends, current conditions and expected

developments, as well as other factors that are believed by the Company to be reasonable and relevant in the

circumstances. Forward-looking information involves known and unknown risks, uncertainties and other factors

which may cause actual results, performance or achievements to be materially different from those predicted,

expressed or implied by the forward-looking information. Additional information on the risks and uncertainties on the

Company’s business can be found in the Company’s current Annual Information Form, annual and quarterly reports

and in other reports and filings made with the securities regulatory authorities and available at www.sedar.com and

www.shawcor.com. The forward-looking information is provided as of the date of this presentation and the Company

does not assume any obligation to update or revise the forward-looking information to reflect new events or

circumstances, except as required by law. The complete text of Shawcor’s statement on forward looking information

is included at the outset of the Company’s Fourth Quarter 2020 Management Discussion and Analysis (MD&A)

report, which is available on SEDAR and on the Company’s website at shawcor.com.

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Corporate

Overview 2020 In ReviewToday’s

Positioning Takeaways

CORPORATE OVERVIEW

▪ At a Glance

▪ Our Segments

▪ Our Diversified Portfolio

2020 IN REVIEW

▪ 2020 Company Response

TODAY’S POSITIONING

▪ Revenue Mix

▪ Sum of the Parts

▪ Swinging to the Positive

TAKEAWAYS

▪ Our Fundamentals

▪ Key Takeaways

4

At a Glance

18+Countries of

Operation

3Reporting

Segments

5,000+Global

Employees

11Recognized

Brands

208Proprietary

Formulations &

Patents

$1.2BRevenue

(2020)

50+Years on

the TSX

Corporate

Overview

Shawcor is a growth-oriented, global material sciences company with its

three segments of Pipeline and Pipe Services, Composite Systems and

Automotive and Industrial, serving the sectors of the Infrastructure, Energy

and Transportation markets. The Company operates through a global

network of fixed and mobile manufacturing and service facilities and is valued

for its integrity, technology and proven capability to execute.

INTEGRITY TECHNOLOGY EXECUTION

5

Our Segments

#1Inspection and Asset

Management

#1 Underground Composite

Tanks

#1 Composite Pipe

#2 Heat Shrink and Devices

TO MAINTAIN OUR LEADING MARKET

POSITION:

THROUGH OUR TRUSTED

BRANDS:

▪ Bredero Shaw

▪ Lake Superior Consulting

▪ Shaw Pipeline Services

▪ Shawcor Inspection Services

▪ Socotherm

▪ FlexPipe

▪ Global Poly

▪ Guardian

▪ Xerxes

▪ DSG-Canusa

▪ Shawflex

LEVERAGING OUR MATERIAL

SCIENCE EXPERTISE TO:

Provide pipeline protection

and inspection solutions as

well as integrity and

engineering services

Manufacture flexible and

environmentally-friendly

composite systems and

solutions

Supply integrated heat

shrink systems and

engineered wire and cable

solutions

#1 Offshore Pipe Coating

#1 Girth Weld Inspection

PIPELINE AND PIPE

SERVICES

AUTOMOTIVE AND

INDUSTRIAL

COMPOSITE SYSTEMS

Corporate

Overview

#1 Engineered Wire and

Cable

6

INFRASTRUCTURE TRANSPORTATION ENERGY

WaterPower

Generation

Electrical

UtilitiesAutomotive Fuel Transit Upstream Midstream

Composite Pipe

Composite Tanks

Heat Shrink & Cold Applied

Products

Engineered Wire & Cable

Oilfield Asset Management

Pipe Coating

Inspections

Integrity & Engineering

Services

Our Diversified Portfolio

Canada

North America

Global

LEGEND

Corporate

Overview

7

2020 in ReviewCorporate

Overview

2020 in

Review

$350

$412$394

$334$319

$266 $268

$326

$28 $36 $42$30

$6 $4$18

$46

40%

50%

60%

70%

80%

90%

100%

110%

$0

$50

$100

$150

$200

$250

$300

$350

$400

$450

Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20

SCL Performance vs. Global Economic Activity

SCL Revenue (C$M) SCL Adj.EBITDA (C$M) GDP Advanced Economies (%)

GDP Emerging Economies (%) Global Mobility %

Substantial pullback in activity in 2020.

The dual impact of COVID-19 and oil price

declines resulted in:

▪ Automotive OEM shutdowns

▪ Drilling and completions halted

▪ Suspension of project sanctioning

▪ Facility interruptions and supply chain

disruptions

▪ Unprecedented uncertainty

2020 Company Priorities:

1. Health & safety of our employees

2. Delivering for our customers

3. Long-term financial stability

Source : IMF, January 2021 ; Google Mobility Report, March 2021

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2020 Company Response

Employee

Safety

3.52020 TRCF

6.02019 TRCF

→ Implemented strict measures at

facilities to prevent the spread of

COVID-19

→2020 - record year for safety

performance at Shawcor

Cost

Reductions

22%Salaried

Workforce

Reduction

6Controlled

Closures of

Pipe Coating

Facilities

$80MSustainable

Annualized

Savings Achieved

in 2020

$60MSG&A Quarterly

Run-Rate*

Capital

Management

→Amended Credit Facility with

Covenant Relief to End of 2021

$24Min Limited

Capital Spending

$27MReduction in

Working Capital (excluding restructuring

liabilities)

$78

$61

$89

$41

$76

$45

$24

$-

$10

$20

$30

$40

$50

$60

$70

$80

$90

$100

2014 2015 2016 2017 2018 2019 2020

CAPEX

Delivering for Our

Customers

→Continued consistent execution

Impact on Financial Metrics

Corporate

Overview

2020 in

Review

$130MCash from

Asset Sales

*Includes targeted incentive-based compensation

*Acquired ZCL

>3,500kmPipe Coated

>4,250Tanks Sold

>90,000kmTubing Extruded

*

$348 $331 $328

$219

$-

$100

$200

$300

$400

Q1 Q2 Q3 Q4

2020 Net Debt

9

Revenue Mix

2013 2020

9%

35%

15%

16%

1%

Corporate

Overview

2020 in

Review

Today’s

Positioning

33%

30%

18%

17%

26%

10

11%

2018 Actual (2) 2019 ActualPre-Downturn

Average (2) (3) Future Scenarios (4)

PIPELINE & PIPE SERVICES

COMPOSITE

SYSTEMS

AUTOMOTIVE &

INDUSTRIAL

9% 9% 12% 15%

6% 2% 5% 10% 15%

23% 22% 21%

19% 18% 18%

(1) Adjusted EBITDA is a non-GAAP measure. See MD&A Section 13.0: Reconciliation of non-GAAP Measures (2) Adjusted EBITDA % for prior years revised to reflect similar level of benefit from adoption of IFRS16 as 2019(3) Pipeline segment – late cycle average 2013 to 2015, Composite segment – early cycle average 2014 to 2015,

Automotive & Industrial segment – no downturn average 2013 to 2015(4) Future scenarios are not a direct reflection of expected 2021 performance

22%

18%

17%

SHAWCOR TOTAL

Adjusted EBITDA %(1)

Sum of the Parts

6% 14%

-1%

17%

18%

10%

20%

21%

2020 ActualQ4 2020

Actual

18% 20% 22%

20%

Segment EBITDA Profile

Corporate

Overview

2020 in

Review

Today’s

Positioning

19%

11

▪ Oceaneering 8.6

▪ Subsea 7 6.0

▪ Transocean 10.6

▪ Technip FMC 4.8

▪ Oil States 12.3

6.8x

5 - 12x

10 - 25x

9 - 14x

PIPELINE & PIPE SERVICES

COMPOSITESYSTEMS

AUTOMOTIVE & INDUSTRIAL

▪ Hexcel 26.1

▪ Celanese 10.9

▪ NOV 22.8

▪ TPI Composites 15.1

▪ ZCL Composites 10.7(2)

▪ Thermon 13.9

▪ Wesco 9.4

▪ Prysmian 9.6

▪ Belden 11.1

▪ TE Connectivity 14.0

Offshore

Services

Materials

Technology

Automotive &

Industrial

Technology

(1) Values per Nasdaq as of Mar. 19, 2021(2) Acquisition multiple

Comparison of Trading Multiples - (EV/EBITDA) 2021(1) Consensus

Sum of the PartsSegment EBITDA Profile

Corporate

Overview

2020 in

Review

Today’s

Positioning

12

Swinging to the PositiveCorporate

Overview

2020 in

Review

Today’s

Positioning

→ 12-month Backlog > $450 million

→ Conditional Bid awards $130 million

→ Currently $170 million

$ 453 M

$ 1,489 M

Backlog Bid Budgetary

$ 841 M

$ 130 M

Strength in Work SecuredForward Movement in Large

Capital Projects

→ Infrastructure stimulus

investments

→ Gas project sanctioning in

Middle East (Domestic and LNG)

→ New tax incentives in Norway

→ National resource holders

investing (Brazil, Middle East,

Malaysia, etc.)

→ Attractive investment parameters

(Guyana)

→ Depleted reservoirs require

replacement (Australia)

Strengthening Base Business

→ Resilient demand for retail fuel

→ Increased adoption of electric

and hybrid vehicles

→ Growth in water and wastewater

markets

→ E&P capital spending returning

→ Increased infrastructure

spending to maintain, replace

and upgrade(e.g. 5G)

→ Optimized footprint that has

maintained ability to serve active

regions

Backlog, Bid and Budgetary as of Q4 2020

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Our Fundamentals

The Need:

To manage and optimize

assets across the entire

lifecycle.

Shawcor’s Opportunity:

To provide integrity

management and use

technology for performance,

data and decision making.

The Need:

To move energy and water

over distances to match

supply and demand.

Shawcor’s Opportunity:

To develop new sources

and construct and maintain

critical infrastructure.

The Need:

To improve energy security,

reliable supply, and

uninterrupted access.

Shawcor’s Opportunity:

To provide energy and

infrastructure development.

The Need:

To protect the physical

environment and reduce

overall intensity.

Shawcor’s Opportunity:

To develop new solutions

and alternatives to support

the transition to a lower

carbon future.

Corporate

Overview2020 in

Review

Today’s

PositioningTakeaways

14

Diversified Portfolio

Corporate

Overview2020 in

Review

Today’s

PositioningTakeawaysKey Takeaways

Lean Organization with Leading Market Position

Ability to Execute

Resilient Base Business with Substantial Torque Potential

Long term Fundamentals

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16

SUPPLEMENTARY

INFORMATION

17

Our Brand

Incident and Injury Free (IIF)

health and safety protocols

Product and service quality to

exceed expectations

Uncompromising business ethics

Deliver as promised

Depth in materials science

Over 155 patents, 86 patents

pending, 51 proprietary

formulations

Partner network of customers,

suppliers, universities and

research institutes

Proven track record in all

regions

International skilled workforce

Project management leadership

Continuous improvement

commitment

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Our Commitment to ESG

DSG Rheinbach

Evaluating our footprint and actioning improvements:

Innovating to enable our customers to reduce their footprint:

PROVIDING SOLUTIONS

TO SECURE, PROTECT

AND CONSERVE WATER

FOSTERING DIVERSITY

AND INCLUSION IN THE

WORKPLACE

FACILITATING ADVANCEMENT

IN ELECTRIFICATION OF

VEHICLES

DEVELOPING

REMOTE

APPLICATIONS

THAT LOWER

EMISSIONS,

HSE RISK AND

RESOURCE

REQUIREMENTS

Shawcor's operating and leadership practices fully embrace ESG (Environmental, Social and Governance) ideals and principles. Shawcor continues to evolve as an

organization to better reflect our enduring values of Integrity, Technology and Execution and to ensure we are positioned to meet the requirements of tomorrow. We are

committed to continuously advancing our ESG performance, both internally and externally, by:

MEASURING OUR

PERFORMANCE

AND DISCLOSING

RESULTS AND

PROGRESS IN OUR

SUSTAINABILITY

REPORT

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Segment Deep Dive

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Pipeline and Pipe Services Offering

PROTECTIVE COATINGS FLOW ASSURANCE

INTEGRITY MANAGEMENT ENGINEERING SERVICES

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International and offshore projects and

footprint optimization expected to drive

improved profitability Energy transition from coal to gas

Lower cost offshore development

Aging infrastructure replacement

NOC and IOC Domestic Energy

Security

Favorable tax incentives

Demand for expertise and high-end

solutions

Growth in LNG supply chain

Development of collaborative subsea

technology

Pipeline rehabilitation projects

Pipeline and Pipe Services Overview

2020 Revenue

Contribution2020 Adj. EBITDA

Contribution

56%

-5%

$662M ($4M)

2020

SCL Revenue

$1,178M

2020

SCL Adj. EBITDA

$74M

2020 FINANCIAL PERFORMANCE

22

Composite Systems Offering

COMPOSITE TANKS COMPOSITE PIPE

POLYETHYLENE PIPE OILFIELD ASSET MANAGEMENT

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Growing acceptance and established

base business will drive high growth Continued conversion to composites

Aging infrastructure replacement

Oil and gas development

Global environmental regulations &

ESG focus

Continued expansion into adjacent

markets (e.g., water and wastewater)

Expansion of the portfolio through the

addition of large diameter platform

International expansion

Composite Systems Overview

2020 FINANCIAL PERFORMANCE

$56M$321M2020 Revenue

Contribution2020 Adj. EBITDA

Contribution

27%

65%

2020

SCL Revenue

$1,178M

2020

SCL Adj. EBITDA

$74M

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Automotive and Industrial Offering

ENGINEERED WIRE & CABLE COLD SHRINK TECHNOLOGY

APPLICATION EQUIPMENTHEAT SHRINK TECHNOLOGY

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Stable outlook with growth prospects

in core markets Global automotive production

Electronic content growth

Aerospace and defense investments

Non-residential industrial construction

Aging infrastructure

Solutions for electric vehicle production

North American electrical infrastructure

Nuclear energy solutions

Fire safety applications

Custom cable engineering

Automotive and Industrial Overview

2020 FINANCIAL PEFORMANCE

$35M$198M2020 Revenue

Contribution2020 Adj. EBITDA

Contribution

17%

40%

2020

SCL Revenue

$1,178M

2020

SCL Adj. EBITDA

$74M

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2020 Sale of Products Business

On December 23, 2020, Shawcor announced the sale of its

Pipeline Performance Products business (the “Products

business”) to Seal For Life Industries for USD $91.5 million

Obtained full value (13.0x multiple on 2019 EBITDA)

Removed complexity

The sale of the business allows Shawcor to focus on areas

where it has the greatest differentiation opportunity for long term

growth