1. Savanna Energy Services Corp.
November 2016
TSX: SVY

2. Forward Looking Information
This document contains statements that constitute forward-looking statements within the meaning of applicable securities legislation. These forward looking statement include, among others, the company’s prospects, expected revenues, expenses, profits, expected developments and strategies for its operations, and other expectations beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results of operations or performance. These forward-looking statement are identified by their use of terms and phrases such as “anticipate”, “achieve”, “achievable”, believe”, “estimate”, “expect”, “intend”, “plan”, “planned”, and other similar terms and phrases. Forward-looking statements are based on current expectations, estimates, projections and assumptions that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include: fluctuating prices for crude oil and natural gas; changes in drilling activity; general global economic, political and business conditions; weather conditions; regulatory changes; and availability of products, qualified personnel, manufacturing capacity and raw materials. If any of these uncertainties materialize, or if assumptions are incorrect, actual results may vary from those expected. Statement contained in this document should be considered in conjunction with the disclaimer set out in the Q Press Release, the Q interim financial statements and MD&A, the annual audited consolidated financial statements and MD&A of the Company for the fiscal year ended December 31, 2015 as well as the disclosures surrounding non-IFRS measures contained therein.

3. Corporate Overview Equipment Fleet: Main Office Locations: TSX: SVY
Common Shares Outstanding(1)
90.3 million
Common Share Trading Price(1)
$1.46
52-week Trading Range(1)
$0.97-$1.98
Market Capitalization(1)
$128.2 million
Property and Equipment(2)
$703.7 million
Book Value per Share(2)
$5.09
Equipment Fleet:
DIVISION
COUNTRY
EQUIPMENT
Drilling
Canada
68 Rigs
USA
28 Rigs
Australia
5 Rigs
Well Servicing
57 Rigs
18 Rigs
12 Rigs
Rentals
CA/USA/AUS
5,000+ pieces
Main Office Locations:
DIVISION
COUNTRY
LOCATION
Headquarters
Canada
Calgary, AB
Operations
Leduc, AB
United States
Odessa, TX
Australia
Toowoomba, QL
(1) As at November 16, 2016
(2) As at September 30, 2016

4. 2015/16 Structural Changes & Initiatives
Organizational structure flattened
Consolidated operating locations / sold real estate
All proceeds from divested real estate have been used to reduce debt ($32 million or 116% of book value)
Salary and wage roll backs of all non-rig employees
Reduced field wages where possible
Significant capital spend reductions
Unutilized equipment shared across operational divisions to decrease operating expenses and maintenance capital
Idle rental fleet assets being provided at no cost to maintain day rates and margins
Cancelled dividend in April 2015

5. Progress on 2016 Key Initiatives
Reduction in total debt, net of cash to $247 million as of September 30, 2016 (reduction from $345 million at the end of 2014)
Reduction of the total available senior secured revolving credit facility from $250 million to $150 million (with amended covenants)
Reduction in non-rig related salaried positions by greater than 50% from 2015 levels
Annualized field office and G&A costs (excl. severance) reduced by over $70 million relative to 2014 exit run-rate, and nearly $17 million relative to the significantly reduced 2015 exit run-rate
R&M as a % of revenue in first 3 quarters of 2016 remains relatively in-line compared to same period in 2015
Maintenance capital continues to be limited to necessary maintenance, replacement, and rig re-certification requirements, as well as rig upgrades or reactivations dictated by customer activity
Process and systems improvement project underway
To be completed by end of Q1-2017

6. Defense to Offense
Savanna is deploying capital to put stacked rigs back to work in the Permian Basin
Our new management team in Odessa has put five of these rigs back to work as of November 16, 2016
The work has been a combination of daywork and turnkey
The capital spend to-date has not been substantial as upgrade requirements have been minimal
As more rigs are reactivated and/or upgrades are required, costs could increase

7. Diversification Benefits
2016 YTD Revenue Distribution (1)
Multiple countries
Multiple business lines – drilling, well servicing & rentals
Multiple equipment types
(1) Based on financials at September 30, 2016

8. North American Drilling Rig Fleet by Depth Rating
Equipment Fleet
North American Drilling Rig Fleet by Depth Rating
This is a newer fleet with over $880 million invested in new equipment since 2009
In addition to the 4 new-build rigs added in the 4000m plus depth range in 2014 Savanna’s drilling rig fleet in North America has also been upgraded and enhanced since 2009 in terms of: rig hookload, pump and drawworks capacity, and the number of rigs with top drives.

9. Equipment Fleet Australia
Savanna’s investment in Australia is roughly equivalent to 8 Tier One rigs.
New, highly mobile hybrid CT-1500 drilling rigs ideally suited for coal seam gas drilling in Queensland.
New, high-specification service rigs capable of working in any of the basins in Australia.
Not at all like North American service rigs: PLC controlled rigs that employ many leading technical features including working floor Human Machine Interface, auto drill, top drives, safety redundancies such as dual encoders, and remote access allowing technicians to troubleshoot problems from around the world via satellite
The average cost per service rig is $8.1 million
Trucking operations to complement both service lines and mitigate risk of less mature trucking infrastructure in Queensland.

10. Equipment Fleet Canada
Diverse Canadian drilling fleet that can work in all but the deepest basins in Western Canada.
Entire Canadian drilling fleet equipped with top drives
CT-1500s have become preferred rigs for oil sands coring and delineation
Top drive singles that perform very well in active basins such as the Viking
A telescoping double fleet that consistently performs at or better than CAODC averages in the relevant depth ranges
7 AC telescoping double drilling rigs with higher hookload, pump and drawworks capacity
Canadian service rig fleet that competes very well against any other service rig fleet in Western Canada.
Rental assets that can be packaged with both drilling and well servicing rigs.

11. Equipment Fleet
U.S.
High specification, top drive equipped AC drilling rigs in the U.S.
1 AC triple drilling rig and 2 AC telescoping double drilling rigs built for the Marcellus
2 AC triple drilling rigs, one in Colorado and one in the Permian
4 AC telescoping double drilling rigs that have worked in Texas, Pennsylvania, and Colorado
A versatile fleet of mechanical drilling rigs, including singles, doubles and triples
Savanna has begun to reactivate mechanical drilling rigs in the Permian basin where there is demand for these rigs
Service rig fleet with a long track record of top tier customers, performance, safety, and financial results in the Bakken
Key focus in reactivating and upgrading Permian rigs

12. Capex Program ($ millions)
2016 Capital Program
Savanna’s 2016 capital spend will be limited to maintenance capital and system upgrades. Originally this was not expected to exceed $15 million, however with the increased activity in the Permian and WCS basins additional capital is required.
Capex Program ($ millions)
Initiatives
Budget
Incurred
2016 Maintenance & System Upgrades
$15 - $20
12.4
Proceeds on sale of assets
(8.8)
Net Capital Program
3.6
All amounts as at September 30, 2016

13. Financial Highlights Financial Highlights ($000s) Three months ended
Sept 30
2016
2015
Change
OPERATING RESULTS
Revenue
71,063
98,011
(27%)
Operating margin
16,678
33,025
(49%)
Operating margin %
23%
34%
Adjusted EBITDAS (adjusted for severance expenses)
11,224
25,272
(56%)
Attributable to shareholders of the Company
11,186
25,196
Per share: diluted
0.12
0.28
Net loss
(11,935)
(10,187)
(17%)
(11,065)
(8,755)
(26%)
(0.12)
(0.10)
(1) As of September 30, 2016

14. Financial Highlights Financial Highlights ($000s) Nine months ended
Sept 30
2016
2015
Change
OPERATING RESULTS
Revenue
219,705
345,290
(36%)
Operating margin
59,161
113,159
(48%)
Operating margin %
27%
33%
Adjusted EBITDAS (adjusted for severance expenses)
42,526
88,427
(52%)
Attributable to shareholders of the Company
41,966
87,124
Per share: diluted
0.46
0.97
Net loss
(38,717)
(11,267) nm
(37,136)
(9,249)
(0.41)
(0.10)
As of September 30, 2016
nm – calculation not meaningful

15. Total Debt Balance Sheet ($millions) Senior Notes, due May 2018 $170
Authorized
Drawn
Sept 30/16
Dec 31/15
Dec 31/14
Senior Notes, due May 2018
$170
$175
Revolving Credit Facilities
$150
$78
$98
$161
Partnership & Other Financing
$14 $5 $8
Total Debt
$334
$253
$281
$351
Cash $6
Total Debt Net of Cash
$247
$275
$345

16. Debt to EBITDA Covenant
Savanna’s Total Funded Debt to twelve-month trailing EBITDA ratio moved from 2.54:1 at December 31, 2015 to 3.26:1 as of September 30, The covenant ratios for 2016 and 2017 are as follows:
For the quarter ending September 30, :1
For the quarter ending December 31, :1
For the quarter ending March 31, :1
For the quarter ending June 30, :1
For the quarter ending September 30, :1
For the quarter ending December 31, :1
Thereafter :1

17. Competitor Comparison
EV / EBITDA
YoY Change - Debt / EBITDA
2014
2015
2016E(1)
WRG
3.8
7.4
66.5 PD
4.3
6.7
14.9
ESI
4.2
5.1
11.0
TDG
4.7
6.4
7.6
SVY
4.0
7.1
2014
2015
2016E(1)
’15/’16 Change
WRG
1.5
4.7
45.1
858% PD
2.3
4.4
8.9
101%
SVY
2.2
2.8
4.6
64%
TDG
2.1
3.9
(12%)
ESI
1.4
2.5
4.0
62%
(1) Based on analyst estimates from IPREO on October 31, 2016

18. SAVANNA ENERGY SERVICES CORP.
Suite 800, 311-6th Avenue S.W. Calgary, Alberta, Canada T2P 3H2 Telephone: Facsimile: TSX: SVY