Annual Meeting

of Shareholders

Q3 Financial Highlights 2017

Annual Meeting

of Shareholders

Forward-Looking Statements (For definitions of capitalized terms, please refer to the Glossary in Enercare’s MD&A dated November 13, 2017)

This presentation contains certain forward-looking statements within the meaning of applicable Canadian securities laws (“forward-looking statements” or “forward-looking

information”) that involve various risks and uncertainties and should be read in conjunction with Enercare Inc.’s (“Enercare”) 2016 audited consolidated financial statements.

Additional information in respect of Enercare, including the AIF, can be found on SEDAR at www.sedar.com.

Statements other than statements of historical fact contained in this presentation may be forward-looking statements, including, without limitation, management’s

expectations, intentions and beliefs concerning anticipated future events, results, circumstances, economic performance or expectations with respect to Enercare, including

Enercare’s business operations, business strategy and financial condition. When used herein, the words “anticipates”, “believes”, “budgets”, “could”, “estimates”, “expects”,

“forecasts”, “goal”, “intends”, “may”, “might”, “outlook”, “plans”, “projects”, “schedule”, “should”, “strive”, “target”, “will”, “would” and similar expressions are often intended to

identify forward-looking information, although not all forward-looking information contains these identifying words. These forward-looking statements may reflect the internal

projections, expectations, future growth, results of operations, performance, business prospects and opportunities of Enercare and are based on information currently

available to Enercare and/or assumptions that Enercare believes are reasonable. Many factors could cause actual results to differ materially from the results and

developments discussed in the forward-looking information.

In developing these forward-looking statements, certain material assumptions were made. These forward-looking statements are also subject to certain risks. These factors

include, but are not limited to:

• actual future market conditions being different than anticipated by management;

• the failure to realize the anticipated benefits of the Service Experts Transaction (“SE Transaction”), strategic initiatives and tax efficiencies;

• the risk that the pilot of rental HVAC offerings in 5 states in the United States does not realize anticipated results as the rental model is a new concept in this industry in the

United States; and

• the risks and uncertainties described under “Risk Factors” in Enercare’s MD&A dated November 13, 2017.

Material factors or assumptions that were applied to drawing a conclusion or making an estimate set out in forward-looking statements, including pro forma financial

information, include:

• the view of management regarding current and anticipated market conditions;

• industry trends remaining unchanged;

• the financial and operating attributes of Enercare and Service Experts as at the date hereof and the anticipated future performance of Enercare and Service Experts;

• assumptions regarding the volume and mix of business activities remaining consistent with current trends;

• assumptions regarding the interest rates of the 2016 Term Loan, foreign exchange rates and commodity prices; and

• the number of Shares outstanding remaining constant.

There can be no assurance that the anticipated strategic benefits and operational, competitive and cost synergies from the SE Transaction will be realized. There can be no

assurance that recent results from the introduction of the rental model to Service Experts in Canada are indicative of future results. There can also be no assurance as to any

potential outcome of the Bureau’s inquiry and the effect on Enercare’s business.

Readers are cautioned that the preceding list of material factors or assumptions is not exhaustive. Although forward-looking statements contained in this presentation are

based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements.

Accordingly, readers should not place undue reliance on such forward-looking statements and assumptions as management cannot provide assurance that actual results or

developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Enercare. All forward-looking information in

this presentation is made as of the date of this presentation. These forward-looking statements are subject to change as a result of new information, future events or other

circumstances, in which case they will only be updated by Enercare where required by law.

2

Annual Meeting

of Shareholders

JOHN MACDONALD President & CEO

Annual Meeting

of Shareholders

Strong Q3 2017 Results & Performance

Increase in

revenue to

$326M (compared to

$316M Q3 2016)

+3% 3,000 Net Units

+12% (Full Q3 2016 vs Q3 2017)

+4%

Increase in

Enercare Home

Services net rental

unit growth (compared to

3,000 units in 2016)

Increase in

EBITDA to $77M (compared to $74M

in Q3 2016)

Increase in HVAC

and water heater

unit originations

EBITDA and customer base expansion in each segment

Strong rental

HVAC

4

*

* Q3 2017 net rental unit growth is marginally higher than Q3 2016. Numbers are identical due to rounding.

** HVAC and water heater sales exclude units related to the partial quarter results arising from the acquisition of Aramendia Plumbing, Heating & Air Ltd.

Annual Meeting

of Shareholders

-2

2 1 1 1

3 3

1 2

3

Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

Bill 59 – Putting Consumers First Act, if enacted as proposed, will completely ban door-to-door

sales in Ontario of certain household appliances, including water heaters and HVAC

9 Consecutive

Quarters of

Organic Growth

Enercare Home Services Net Rental Units (000s)

Growing the Home Services Rental Portfolio

13,000 Annual Rental HVAC

• Technician leads

~38,000 Annual

Gross Adds

ONE Growing Additions TWO Reducing Attrition

A. Bill 55 -The Stronger

Protection for Ontario

Consumers Act

C. Door-to-door

Energy Sales Ban (AB)

B. Bill 59 - Putting Consumers

First Act (ON)

~25,000 Annual Rental Water heaters

• Technician leads

• Builder network

• Dealer network

5

D. Improved Service and Offerings

and Customer Retention

Programs

E. The Buyout Contract

Annual Meeting

of Shareholders

Rental Rate Growth Drivers

$22.20 $23.12

$24.28

2015 2016 YTD2017

5%

Enercare Home Services

Annual Average Monthly

Rental Rate Changes

6% 7%

3% 3%

44%

30%

44%

45%

4%

3% 11%

2007 Q3 2017

HVAC

PV

CV

Electric Other

Tankless

Highest Revenue

Lowest Revenue

Rental Portfolio Revenue

Annual Price Increases

Enercare has successfully implemented rental rate increases of

approximately 3% on the majority of residential water heaters in

its portfolio in each of the last 4 years (i.e., 2014-2017).

Product Mix Changes

1

2

6

Product

Revenue

4%

5%

Annual Meeting

of Shareholders

3 Months Ended

September 30,

2016

7

Approximately two thirds of Enercare’s HVAC originations

come from a protection plan relationship

3 Months Ended

September 30,

2017

Protection Plan Contracts

(Start of the period)

Attrition Additions Protection Plan

Contracts (End of the period)

18,000

2,400

Attrition from HVAC Rental Additions

21,000 21,000

20,000

549,000

543,000

2017

IMPROVEMENT

14%

TOTAL IMPROVEMENT

6,000

547,000

543,000

Focused on Growing Protection Plans

Annual Meeting

of Shareholders

Connected Home: A Pro-active Home

Monitoring Solution

Q4 2017 100-household pilot

H1 2018 Launch Initial Customer Offerings

8

Home Services is prepared to launch a Connected Home Solution in the first half of 2018

21,000

Monitor and Control

Heating Appliances

Monitor and Control

Cooling Appliances

Monitor Energy

Usage

Detect Leaks

Shut off Water

Remotely

Annual Meeting

of Shareholders

Unit Continuity (In thousands)

Strong embedded revenues in contracted units pipeline: 2 to 1 versus billing units

Achieving Scale in Sub-metering

9

93

132

156 166

185

205

235

251

77

94

115

136

151 155 165

182

50 57

71 82

96 103

116 127

2010 2011 2012 2013 2014 2015 2016 Q3 2017

Contracted Installed Billable

Annual Meeting

of Shareholders

Key Accomplishments

10

Strong Results from Service Experts

12% Increase In Originations *

(Q3 2016 vs Q3 2017)

8% Increase in EBITDA

(Q3 2016 vs Q3 2017)

3 Completed M&A transactions

7 States Complete

Rental Rollout

$0.07 per share Synergies Achieved

Enercare Customer Locations Service Experts Locations EENA Commercial National Accounts

* HVAC and water heater sales exclude units related to the partial quarter results arising from the acquisition of Aramendia Plumbing, Heating & Air Ltd.

Expanding Rentals to Service Experts

Water heater and HVAC rental products available

Roll out complete in Ontario, Manitoba and Alberta

Useful life contract with customers

Rental mix of total water heater and HVAC

originations YTD:

~14% in ON (range from 6% to 35%)1 and

~8% in MB & AB (range from 5% to 20%)1

Only HVAC rental products currently

available

Launched HVAC rental program in 7 states

Defined term contract with customers

Rollout expected to be completed by

end of 2018

Rental mix of total HVAC originations YTD:

~3% (range from 0.2% - 11%)1

2016 2017 2018

COMMENCES COMPLETE COMPLETE

U.S. Rental Rollout Canada Rental Rollout

CANADA USA

11

(As at Q3 2017)

1. Range dependent on service centre.

Annual Meeting

of Shareholders

Many M&A Opportunities in Highly Fragmented Industry

Targeting tuck-ins, new geographies, and complementary services

HVAC/Plumbing (Service/Replacement)

10+ Years in Business

Strong Brand/Reputations

> US$5 Million Revenue

Strong Service Agreement Base

All

10-45 Years

All

US $5 - $40 Million

Up to 17K Agreements

Acquisition Criteria Current Pipeline

12

2013 2014 2015

6 Completed 4 Completed 1 Completed

2017

3 Completed to date

2018

What’s Next for Service Experts

Key Accomplishments

1. Closed Service Experts

2. Completed launch of water heater and HVAC rental

program in Canada

3. Commenced roll-out of HVAC rental program in the

US

4. Completed three tuck-in acquisitions

5. Synergy target increased; $0.07 per share achieved

so far

Future Focus

1. Continue strong organic

growth in chosen

markets

2. Focus on M&A

opportunities

3. Continue rental rollout

and increase rental mix

4. Ready for connected

home pilot and launch

2016 2017

13

Q4 Q3 Q2 Q1 Q4 Q3 Q2

Annual Meeting

of Shareholders

EVELYN SUTHERLAND CFO

Annual Meeting

of Shareholders

Total Revenue

($ millions)

106.9 111.0 114.6

38.6 42.6 34.8

162.3 176.1

Q3 2015 Q3 2016 Q3 2017

Enercare Home Services Sub-metering

3%

Service Experts Service Experts

Enercare Home Services

9th consecutive

quarter of

net rental

unit growth

Sub-metering

12%

rental and

sales unit

growth

12%

increase

in billable

units

Successfully Growing Long-Term Recurring Revenues

15

325.5 315.9 117%

145.5

1. Enercare acquired Service Experts on May 11, 2016.

2. HVAC and water heater sales exclude units related to the partial quarter results arising from the acquisition of Aramendia Plumbing, Heating & Air Ltd.

1 2

Annual Meeting

of Shareholders

EBITDA Performance

Enercare Home Services Sub-metering Service Experts

EBITDA (excluding corporate)

($ millions)

1. See “Non-IFRS Financial and Performance Measures” in Enercare’s MD&A dated November 13, 2017.

2. Enercare acquired Service Experts on May 11, 2016. As a result, Q3 2016 contains full Q3 results for Services Experts.

63.9 65.1

14.8 16.1 3.4

4.1

Q3 2016 Q3 2017

4%

Acquisition Adjusted EBITDA1 (excluding corporate)

($ millions)

64.9 65.8

19.0 16.3

3.4 4.1

Q3 2016 Q3 20172

(1%)

Without the one-time items outlined on slide 17,

Acquisition Adjusted EBITDA would have increased by approximately 2.5-3.5%

16

2

Annual Meeting

of Shareholders

WEATHER

21,000 543,000

P&L Impact of One-time Items

DEFERRED REVENUE AND

COST OF SALES ADJUSTMENTS

2016 SERVICE EXPERTS OPENING

BALANCE SHEET VALUATIONS FOREIGN EXCHANGE

►Cooler Weather Estimated reduction of $1M to $2M

to EBITDA

►Hurricane Irma Estimated reduction of approximately

$1M to EBITDA

►Deferred revenue adjustment from our purchase price accounting:

$1.5M (2016: $8.7M)

►Deferred cost of sales adjustment $1.2M (2016: $6.8M) created net impact

of $0.3M to gross margin (2016: $1.9M)

►Q3 Results Impact: approximately $2.6M ►Canadian Dollar improvement in the

quarter: Reduction of $0.4M to EBITDA

17

One-time impacts estimated between $2.6 to $3.6 million

Annual Meeting

of Shareholders

$315.9 $325.9

Q3 2016 Q3 2017

$4.4M in additional EBITDA would have been recorded in Q3 2017

had there been no rental HVAC originations1

Revenue ($ millions)

+97%

+100%

$11.4

million

deferral of

revenue in

Q3 2017

due to

success of

HVAC

rental

initiative1

Successful HVAC Rental Initiative Has

Short-term Impact and Long-Term Benefits

1. Assumes a rental would have been a sale.

18

$74.0 $77.1

Q3 2016 Q3 2017

EBITDA ($ millions)

+95%

+100%

$4.4

million in

EBITDA in

Q3 2017

deferred

due to

success of

HVAC

rental

initiative1

~11.4

~4.4

Annual Meeting

of Shareholders

87% 84%

Q3 2016 Q3 2017

52% 51%

Q3 2016 Q3 2017

Payout Ratio1

Payout Ratio – Maintenance1

Improving Payout Ratios

Payout ratios continue to improve as operating cash flow1 increases

19 1. Operating cash flow, Payout Ratio – Maintenance and Payout Ratio are Non-IFRS financial measures. Refer to the “Non-IFRS Financial and Performance Measures” section in Enercare’s MD&A dated November 13, 2017.

Annual Meeting

of Shareholders 4.9%

4.3% 3.9% 3.5% 3.3% 3.5%

2012 2013 2014 2015 2016 Q3 2017

Weighted Average Interest Rate

3.2x 3.0x 3.4x

3.0x 3.3x 3.5x

2012 2013 2014 2015 2016 LTM 2017

Stable Credit Metrics

20

Net Debt / Acquisition Adjusted EBITDA1 Key Statistics

BBB (Stable) – S&P

BBB (Stable) – DBRS

3.5%

Weighted Average

Interest Rate

3.5x1,2

Net Leverage Ratio

8.4x3

Interest Coverage Ratio

2

1. Calculated using debt less cash divided by Acquisition Adjusted EBITDA. Debt excludes the balances associated with pension, other post-employment benefit liabilities and capital lease obligations.

2. LTM 2017 is calculated using Acquisition Adjusted EBITDA for the 12 months ending September 30, 2017.

3. Calculated using cash interest and acquisition adjusted EBITDA for the 12 months ending September 30, 2017. Debt excludes the balances associated with pension, other post-employment benefit liabilities and capital

lease obligations.

For definitions, please refer to the Non-IFRS Financial and Performance Measures section in Enercare Inc.’s MD&A dated November 13, 2017.

Annual Meeting

of Shareholders

Q&A

Annual Meeting

of Shareholders

JOHN MACDONALD President & CEO

Annual Meeting

of Shareholders

1. Roll-out the rental

program

2. Deliver procurement

synergies

3. Execute roll-up

acquisition strategy

2017 Strategic Priorities

1. Grow net rental units

2. Grow protection plan

portfolio

3. Enhance mobile app and

develop connected

home offering

1. Grow contracted units

2. Add new products and

services

3. Focus on customer

satisfaction

Enercare

Home Services Sub-metering Service Experts

Stable EBITDA Growth

23

Annual Meeting

of Shareholders

Q3 Financial Highlights 2017