Forward Looking Statement

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(No Transcript)
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Forward Looking Statement

• Certain statements contained in this presentation
  may constitute forward-looking statements. All
  statements, other than statements of historical
  fact, in this presentation that address
  activities, events or developments that Eveready
  Income Fund (Eveready or the Fund) or a third
  party expects or anticipates will or may occur in
  the future, including Evereadys future growth,
  results of operations, performance and business
  prospects and opportunities, and the assumptions
  underlying any of the foregoing, are
  forward-looking statements. These forward-looking
  statements reflect Evereadys current beliefs and
  are based on information currently available to
  Eveready and on assumptions Eveready believes are
  reasonable. Actual results and developments may
  differ materially from results and developments
  discussed in the forward-looking statements as
  they are subject to a number of significant risks
  and uncertainties. Certain of these risks and
  uncertainties are beyond Evereadys control.
  Consequently, all of the forward-looking
  statements are qualified by these cautionary
  statements, and there can be no assurances that
  the actual results or developments will be
  realized or, even if substantially realized, that
  they will have the expected consequences to, or
  effect on, Eveready. These forward-looking
  statements are made as of the current date and
  Eveready assumes no obligation to update or
  revise them to reflect subsequent information,
  events or circumstances unless otherwise required
  by applicable securities legislation. This
  presentation may also contain financial measures
  that are used by Eveready from time to time but
  that do not have any standardized meaning
  prescribed by Canadian generally accepted
  accounting principles (GAAP). Therefore, these
  financial measures may not be comparable to
  similar measures presented by other issuers.
  Investors are cautioned that these measures
  should not be construed as an alternative to net
  earnings or to cash flow from operating,
  investing, and financing activities determined in
  accordance with Canadian GAAP as indicators of
  Evereadys performance. These measures are
  provided to assist investors in determining
  Evereadys ability to generate earnings and cash
  flow from operations and to provide additional
  information on how these cash resources are used.
  These financial measures are identified and
  defined as follows EBITDA is defined as
  earnings before interest, taxes, depreciation and
  amortization. Eveready believes that, in addition
  to net earnings, EBITDA is a useful
  supplemental earnings measure as it provides an
  indication of the earnings generated by
  Evereadys principal business activities prior to
  consideration of how these activities are
  financed or how the results are taxed in various
  jurisdictions and before non-cash amortization
  expense. Funds from Operations is derived from
  the consolidated statements of cash flows and is
  calculated as cash flow from operations before
  changes in non-cash operating working capital and
  asset retirement costs.  Eveready believes that
  funds from operations is a useful supplemental
  measure as it provides an indication of
  Evereadys ability to generate cash flow and is a
  useful measure in analyzing Evereadys operating
  performance.  Cash Available for Distribution
  and Growth is calculated as cash flow from
  operations before changes in non-cash operating
  working capital, less maintenance capital
  expenditures. This is a useful supplemental
  measure as it provides an indication of cash
  available for distribution to the Funds
  unitholders.  Maintenance capital expenditures
  are capital expenditures incurred during the
  period to maintain existing levels of service.
  This includes capital expenditures to replace
  property, plant and equipment disposed of and any
  costs incurred to enhance the operational life of
  existing property, plant and equipment. Growth
  capital expenditures are excluded from this
  calculation. These expenditures include additions
  of new equipment to grow Evereadys capital asset
  base. Payout ratio is calculated as cash
  distributions declared for the period divided by
  cash available for distribution and growth. 
  Working Capital is calculated as current assets
  less current liabilities.  Working Capital
  ratio is calculated as current assets divided by
  current liabilities.  Eveready believes working
  capital is a useful supplemental measure as it
  provides an indication of Evereadys ability to
  settle its obligations as they come due.  Funded
  Debt to Total Capital is calculated as funded
  debt (bank indebtedness, long-term debt, and
  convertible debentures) divided by total capital
  (funded debt plus unitholders equity).  Eveready
  believes funded debt to total capital is a useful
  supplemental measure as it provides an indication
  of the proportion of its capital that is funded
  from debt versus equity sources.  
• Units refer to units of the Fund. Per Unit
  amounts refer to specific financial metric
  divided by the relevant weighted average number
  of Units outstanding during the period. The Units
  are not a fixed income security, and as such
  distributions may be reduced or suspended at any
  time.

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Our Business
Eveready is a growth oriented income fund that
provides industrial and oilfield maintenance and
production services to the energy, resource and
industrial sectors and is listed on the TSX.
Notes 1) As of June 9, 2008 2) As of March 31,
2008
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Employees

• Over 2800 employees
• Approximately 30 of employees are Eveready
  owners
• Approximately 30 of Eveready units are owned by
  senior management and board members and are
  subject to the principal unitholder agreement

Principal Unitholder Agreement Certain Eveready
unitholders (the Principle Unitholders) have
signed a Principal Unitholder Agreement. Each
Principal Unitholder is restricted from selling
more than 10 of their aggregate Fund units or
Rollover LP units in any one 12-month period
before March 31, 2010.
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Locations

• Canada
• 66 offices
• British Columbia - 8
• Alberta - 50
• Saskatchewan - 5
• Manitoba and Ontario 3
• USA
• 10 offices
• Michigan, Texas, Louisiana, Kentucky, New Jersey,
  California
• Outside North America
• 3 offices
• Brazil, Singapore and England

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Equipment - Fleet

• Over 1,300 truck and trailer mounted units
  including
• Vacuum trucks
• Tankers
• Hydrovacs
• Chemical cleaning trucks
• High-pressure water blasting trucks
• Flush-bys
• Coiled tubing
• Pressure trucks
• Steam trucks
• Hot oilers
• Etc.

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Equipment - Specialized

• Several hundred specialized pieces of equipment
  including
• Mulchers
• Directional drills
• Heli-portable and track drills
• Dewatering equipment
• Pumps
• Centrifuges
• Compressors
• Etc.

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Equipment - Rentals and Lodges

• 6 Industrial Lodges (1588 rms)
• 3 Construction Camps (182 rms)
• 15 Drill Camps (210 rms)
• Eveready employee camps (500 rms)
• 75 Well site units
• Production equipment
• Access and rig matting
• Portable bridges

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Revenue by Business Segment (2008 estimated)
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Revenue by Service (2008 estimated)
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Oil Sands Opportunity

• Its estimated 10 to 15 billion will be spent
  on oil sands development in Alberta every year
  for the next 10 to 15 years (1)

Notes 1) Opportunity Alberta Energy Resources
2007
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We Service the Oil Sands From Cradle to Grave
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Exploration

• Line clearing
• Seismic surveying
• Geospatial mapping
• Core hole drilling support
• Drill camps
• Matting and bridge rentals
• Drilling waste hauling disposal

73,000 sq. kilometers in Athabasca Oil Sands
alone. 2800 leases operated by 70 companies. (1)
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Development and Construction

• Ice roads
• Water and sewer
• Waste hauling disposal
• Hydro-excavating
• Construction camps lodges
• Directional boring
• Pressure testing
• Heating steaming
• Industrial health safety services
• Facilities rentals
• Pre-operational cleaning
• Lube oil flushing

Fort McMurrays work camp population in 2007 was
approx. 10,000 people and is expected to be in
excess of 15,000 by 2011. (1)
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Production

• Fluid hauling
• SAGD drilling support
• Mining support
• Industrial lodging
• Steam cleaning
• Hazardous waste removal disposal
• Filter sales rentals
• Pipeline testing
• Dredging emulsion of tailing ponds
• Tank cleaning

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Maintenance

• Decoking pigging
• Chemical cleaning
• High-pressure water blasting
• Bundle pulling
• Dry ice blasting
• Catalyst change out
• Lube oil flushing
• Tank cleaning
• Industrial lodging
• Industrial health safety services

30 to 50 year life span.
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Remediation Reclamation

• Hazardous waste hauling
• Class 1A hazardous liquid disposal well services
• Class 1A hazardous and Class 2 non-hazardous
  landfill solid waste disposal

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The common thread to all of our services and our
growth strategy is the customer
Oilsands, Industrial Production
Exploration
Lodging Rentals
Environmental

• We serve the Whos Who of the energy and
  resource sector

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Our Top 20 Customers in 2007

• Our top 20 customers accounted for 50 of our
  2007 revenue
• Our top customer accounts for 5 of our revenue

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A Solid History of Growth
Revenue Profile (1996 2008E)
EBITDA Profile (1996 2008E)
CAGR 10 Years 63
CAGR 10 Years 71
2008 Consensus Estimates
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Financial Performance
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Financial Performance
Years Ended December 31
2008 Consensus Estimates
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New Distribution Policy

• Monthly cash distribution of 0.06/unit replaced
  with quarterly in-kind distribution of 0.18/unit
• The first quarterly distribution was paid on
  April 15, 2008 to unitholders of record as of
  close on March 31, 2008. Deemed price per unit
  was 3.7242
• DRIP eliminated
• Advantages of the new policy include
• Retention of annual operating cash flow in excess
  of 60 million
• Supports organic growth in 2008 and 2009
• Reduces reliance on debt and equity markets to
  fund growth initiatives
• Payment of in-kind distributions allows
  Eveready to continue to take advantage of the tax
  deferral on income trusts until 2011. (In-kind
  distributions are deductible for tax purposes)
• Maximization of tax pools to shelter a
  significant amount of taxable income beginning in
  2011. Estimated to be in excess of 100 million
  over the next 5 years.

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Growth Strategy

• We will continue to be a leading provider of oil
  sands infrastructure services by
• Growing our existing services
• Adding new services to our existing customer base
• Consolidating industry peers and competitors

Breakdown of 2008 Capital Expansion (78 million)
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Our Competitive Advantage

• Employee ownership
• The size of our fleet
• Our geographic spread
• Our broad range of services
• Our standardized safety and operating policies
• Our reputation and track record

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The Barriers to Entry for our Business

• High capital cost
• High regulatory standards and stringent
  accreditation requirements
• High knowledge base and experience requirements
• Critical mass required for large projects and
  limited resources

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Investment Highlights

• Experienced and Proven Management Team
• Substantial Management Ownership
• Multiple Significant Expansion Opportunities
• High Leverage to Oil Sands Development
• High Barriers to Entry
• Customers are a Whos Who in the Resource
  Sector
• Broad Range of Services
• Compelling Valuation

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Our Services
Click the picture or visit our website to better
understand our services.

• WWW.EVEREADYINCOMEFUND.COM

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Right company. Right place. Right time.
Glen FlemingSenior VP Oilfield and
Industrial780-743-0222gfleming_at_evereadyindustria
l.com
Jason VandenbergCFO780-451-6075jvandenberg_at_ever
eadyincomefund.com
TSX EIS.UN evereadyincomefund.com