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 the termination 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 2010

contained in the 2010 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 those future 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.

2

0.00

0.10

0.20

0.30

0.40

0.50

0.60

0.70

3

(%)

15.917.1

12.9

17.518.7 18.9

20.621.6 21.5

15.5

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

18.3*

8.5

Return on Opening Shareholder’s Equity

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Dividends Per Share(Cents)

• Superlative returns on equity

• Sustained growth in dividends each year since 1989

• Very solid balance sheet with pro-forma debt-to-equity of 0.12:1 at year end

• DBRS has communicated ratings upgrade pending spin-off

• Disciplined focus on returns on capital employed throughout organization

0.66

0.480.41

0.47 0.45 0.420.36

0.19

0.05

-0.06

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

(%)

Net Debt-to-Equity Ratio

0.20

* Excludes goodwill, intangibles and transaction costsNote: Q2 2011 dividend of $0.16 has been split – $0.10 for

Toromont, $0.06 for Enerflex

4

Pro Forma Net Earnings from Continuing Operations (Millions)

* Pro Forma Net Earnings from continuing operations (excludes results from Enerflex and predecessor TESI)

24.9

32.626.7

37.540.3 42.6

52.3

82.2

73.6

59.4

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

73.2

5

Management

President Battlefield –

The CAT Rental Store

Randy Casson

PresidentCIMCO

Refrigeration

Steve McLeod

Chairman &

CEO

Robert Ogilvie

President Toromont CAT

Scott Medhurst

Board of Directors

VP Finance &

CFO

Paul Jewer

VP Human

Resources &

Legal

David Wetherald

VP & CIO

Michael Cuddy

Robert M. Ogilvie Chairman & CEO ─ Toromont Industries Ltd.

Robert M. Franklin

President ─ Signalta Capital Corporation

Director ─ Barrick Gold Corporation,

Canadian Tire Corporation, Previous Chair –

Placer Dome

Ronald G. Gage Director ─ AIM Trimark Canada Fund Inc.,

AIM Trimark Corporate Class Inc.

David A. Galloway

Chairman of the Board ─ Bank of Montreal

Director ─ E.W. Scripps Company

Former President & CEO ─ Torstar Corp.

Wayne S. Hill Former EVP ─ Toromont Industries Ltd.

John S. McCallum

Professor of Finance ─ Asper School of

Business at The University of Manitoba

Director ─ IGM Financial, Wawanesa

Insurance, Fortis Inc.

Previous Chair ─ Manitoba Hydro

Former Policy Advisor to Federal Minister

of Finance

Jeffrey S. Chisholm Director – Amex Bank of Canada

and PMI, Canada

Proven and Experienced Leadership

Average Tenure: 22 Years

Equipment Group

47%

Cimco

9%

Equipment Group

12%

Equipment Group

26%

Cimco

6%

2010 by Segment

6

RENTAL

12%

PRODUCT SUPPORT

32%

EQUIPMENT

56%

Diversified by Division, Industry and Customer

7

EQUIPMENT GROUP

Toromont CAT Mine Site Branches

1. Agnico Eagle

2. Goldcorp

3. DeBeers

4. Detour Gold

5. Goldcorp

6. Vale Inco

Toromont CAT Branches

Newfoundland & Labrador

Ontario

Nunavut

Musselwhite

Baker Lake

Porcupine

Voisey’s Bay

Victor

Detour Lake

1

2

3

4

5

6

Manitoba

Equipment Sales by Segments Served

EQUIPMENT GROUP

21%

20%

18%

16%

6%

4%

15%

Power

Large Contractor

Local Contractor

Mining

Quarry

Agriculture

Other *

* Other includes equipment services, forestry, government, industrial, waste and lift categories

8

9

Newfoundland

Ontario

Manitoba

Battlefield

SectorsElectrical Plumbing

HVAC

Surveyors Special Trades

Steel Erectors

37 Stores Serving 13,600 Customers

>250 Brands Totalling >28,000 Items

EQUIPMENT GROUP

10

2005 2006 2007 2008 2009 2010

Remote Mines Total Mining

Mining Sales

67

94

166 181

107

155

($ millions)

Strategy Drives Strong Growth

EQUIPMENT GROUP

11

Canadian Exploration Expenditures (1)

Source: Natural Resources Canada

2005 $1.3 Billion (total Canada) 2010 $2.8 Billion (total Canada)

Manitoba

Nunavut

Newfoundland & Labrador

44%

45%

Manitoba

Nunavut

Newfoundland & Labrador

Investment Has More than Doubled in Our Territory Over Past 5 Years

OntarioOntario

EQUIPMENT GROUP

Newfoundland & Labrador

Ontario

Nunavut

1

2 3

45

6

Manitoba

8

Management Estimates 47 New Projects and Transformational Expansions on Visible Horizon

12

Large Prospect Mine Sites

1. Lalor, HudBay Minerals

2. Hope Bay, Newmont

3. Meliadine, AEM

4. Hollinger, Goldcorp

5. Marathon PGM, Stillwater

6. Ring of Fire, Cliffs

7. Hammond Reef, Osisko

8. Rainy River, Resources

9. Mary River, Baffinland Iron

Toromont CAT Select Branches

9

7

EQUIPMENT GROUP

$10.6

$14.4

$16.9$15.6

2008/09 2009/10 2010/11 2011/12

Infrastructure Investment($ billions)

Significant Levels of Investment Expected to Continue in Toromont Territory

13

EQUIPMENT GROUP

Source: ON/MB/NL Governments, ORBA, Management estimates

• Windsor Essex Parkway - $1.6B

• Hwy 407 – unknown

• Pan-Am Games investment

14

Ontario

Newfoundland

Manitoba

Nunavut

• Hebron - $6B plus

• Lower Churchill - $6.2B

• Bipole III - $3.2B

• Keeyask Generating Station - $3B

• East Side Transportation

• Potential significant infrastructure requirements to support mining and other initiatives

EQUIPMENT GROUP

80.681.4

82.3

30.0

40.0

50.0

60.0

70.0

80.0

90.0

Q1 2001

Q3 Q1 2002

Q3 Q1 2003

Q3 Q1 2004

Q3 Q1 2005

Q3 Q1 2006

Q3 Q1 2007

Q3 Q1

2008

Q3 Q1

2009

Q3 Q1

2010

Q3 Q1

2011

Pro

du

ct

Su

pp

ort

Sa

les

($

MM

)

15

Three Successive Quarters of Record Product Support

Toromont has:

• Increasing base of higher requirement

mining equipment

• Increasing opportunities with

additional product lines

• More significant product support

network than any competitor

EQUIPMENT GROUP

16

Engine Sales to OEMs

Prime & Stand-by Power Systems

Marine Power Systems

Sales, Parts & Service

Growing Position in Renewable Energy

Industrial Electric Power Marine

TruckCommercial

Complete Vehicle

Providing Broader Range of Offerings

EQUIPMENT GROUP

O&KFront shovels

17Generating Significant New Internal Growth

2 0 0 5 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 2 0 11

TrimbleMachine guidance

control systems

Heavy Equipment

Rental

MetsoMobile & stationary aggregate

crushing & screening

CAT Vocational Truck Introduction

Bucyrus Intl.Broader mining equipment

product line

2 0 0 6

MaKLarge bore

marine engines

MWMManufacturer of

natural gas engines

EQUIPMENT GROUP

18

Represents Best Brand with Widest Product Offering

Diversity of Products & Services

Skilled Labour Base

Growing Presence in Mining Sector

Expanding Range of Power Systems Offerings

Largest Installed Base, Highest Market Share &

Strongest Customer Support Network in Territory Served

Industry Leading Profitable Rental Operations

EQUIPMENT GROUP

19

AR

AL

20

FL

KY

CT

Canadian Industry Leader with Market Growth Opportunities

Revenue Split

Recreational

31%Product

Support

42%

Industrial

27%

21

Industrial Refrigeration

Market leading engineering capabilities & expertise

Food & beverage processing, cold storage, food distribution, HVAC, IPC & mining applications

Excellent growth potential - withimproving economy comes improving investment

Leverage proven Eco Chill in industrial market

Strong product support network

Recreational Facilities

Market leading engineering capabilities & expertise

4,500 installed facilities worldwide

Official NHL rink provider for 12 years

Marquee Winter Olympic installations: Vancouver, 2010 & Calgary,1988

Strong backlog in 2011

Strong product support network

22

23

Saves Money Reduces Greenhouse Gas Emissions

Growth Strategy

24

Equipment Group Gain market share

Focus on mining sector

Expand heavy rents, product support

Expand product offerings

(Bucyrus, Metso, MaK)

Increase product rental range

Widen market coverage with new locations

25

CIMCO Eco Chill in industrial markets

Expand market leadership position

Capitalize on green technologies

Ammonia-based HVAC applications

Power Gain increasing share of increasing investment CHP

and alternative energies ( MWM, large power plants

for mining and natural gas-fueled distributed power)

• History of successful acquisitions

• Consolidating heavy equipment industry offers opportunities

• Broadening product offerings through Caterpillar acquisitions

• Positioned for territory expansion 26

27

Track Record of Superior Financial Performance

Strong Balance Sheet

Rising Momentum in Bookings & Order Backlog

Diversified by Division, Industry & Customer

Solid Growth Opportunities

Market Leading Brands & Position