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May 4, 2017

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/FORWARD-LOOKING STATEMENTS

In the interest of providing information regarding Horizon North, including management's assessment of Horizon North's future plans and operations, certain statements made and contained in these presentation materials (collectively, this “presentation”) are “forward-looking statements”, “forward-looking information”, or “financial outlook” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements are typically, but not always, identified by words such as “anticipate”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “could”, “plan”, “intend”, “should”, “believe”, “outlook”, “potential”, “target”, “seek”, “budget”, “predict”, “might” and similar words suggesting future events or future performance. Statements regarding capital expenditures and future development plans, objectives and strategies are subject to all of the risks and uncertainties that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. All statements other than statements of historical fact may be forward-looking statements. The forward-looking statements contained in this presentation speak only as of the date of this presentation and are expressly qualified by this cautionary statement. The purpose of any financial outlook is to provide disclosure regarding Horizon North’s reasonable expectations as to the results of its proposed business activities and may not be appropriate for other purposes.

Specifically, this presentation contains forward-looking financial and operational information, including: information relating to our business strategies, plans and objectives; our growth strategies; industry position; commodity pricing expectations; demand for beds, cash flow and related growth rates and stability; dividends paid on common shares and related growth; planned capital expenditures and plans for developing our assets and funding our capital expenditures in various geographic regions; and Horizon North’s business strategy for future growth.

This information is based on Horizon North's current expectations and is subject to a number of risks and uncertainties that could materially affect future results. These risks include, but are not limited to, general economic risks and uncertainties, future commodity prices, exchange rates, interest rates, geological risk, political risk, regulatory approval risk, demand for commodities, including oil and gas, transportation restrictions, risks associated with changes in tax, royalty and regulatory regimes and risks associated with cross-border activities. Additional risks and uncertainties are described in Horizon North's Annual Information Form, as well as Horizon North's Management's Discussion and Analysis (“MD&A”) which are filed on SEDAR at www.sedar.com. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in Horizon North's securities should not place undue reliance on these forward-looking statements. Forward-looking statements contained in this document are made as of the date hereof and are subject to change. Horizon North assumes no obligation to revise or update forward looking statements to reflect new circumstances, except as required by applicable securities laws.

This presentation contains certain non-standardized financial measures including net debt and fund flows from operations as well as non-GAAP measures including netbacks that are not determined in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board. These measures as presented do not have any standardized meaning prescribed by IFRS and therefore may not be comparable with calculations of similar measures by other companies. Reference is made to Horizon North's publicly filed documents, including our most recently filed MD&A, for a discussion of these measures, including a reconciliation of fund flows from operations to cash flow from operating activities and net debt to long-term debt. Management believes that, in conjunction with results presented in accordance with IFRS, these measures assist in providing a more complete understanding of certain aspects of Horizon North's results of operations and financial performance. Investors are cautioned, however, that these measures should not be construed as an alternative to measures determined in accordance with IFRS as an indication of our performance.

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/SAFETY MOMENT

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/EMERGENCY PREPARDNESS

Fort McMurray Wildfire - 2016

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/DISTRACTED DRIVING

66

77

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/OUR BELIEFS

VISIONTo provide an exceptional experience for customers, guests, employees, shareholders, and business partners.

MISSIONHorizon North provides superior, safe, self-perform accommodations and related ancillary infrastructure in Canada.

VALUES

Safety: We never compromise on safety, as lives depend on it.

Integrity: We build trust and act with honesty, respect and fairness.

Community: We think globally and act locally.

Customer Focus: We meet or exceed customer requirements in everything we do.

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/SAFETY STATISTICS

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/ABORIGINAL PARTNERSHIPS

3 1

93

1

17 Strategic Aboriginal Relationships

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/DIFFERENTIATED BUSINESS MODEL

We own and control the entire value chain offering our customers a truly turn-key service.

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/FINANCIAL SNAPSHOT

(000's except per share amounts) YTD 2016 YTD 2015Revenue $ 250,935 $ 369,889EBITDAS $ 28,661 $ 62,460 Net Loss $ (20,316) $ (832)EPS $ (0.15) $ (0.01) Funds from operations $ 27,793 $ 59,148Net Capital Spending $ 18,692 $ 44,643

Credit FacilitiesCredit Facilities Available $ 150,000

Drawn (March 31, 2017) 70,771

Available Capacity $ 79,229

Symbol (TSX): HNL

Headquarters: Calgary, Alberta

Year End: December 31

Shares Outstanding: 144,622,006

Share Price: $1.68 (May 1, 2017)

Market Capitalization: $243 million

Debt: $71 million(Mar 31, 2017)

Enterprise Value: $314 million

Dividend Per Share: $0.02/quarterly

Stock Information

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WHO WE ARE IS CHANGING, GROWING AND DEVELOPING.

WE BELIEVE… IN TRANSFORMATIONAL CHANGE.

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/BIFURCATED OPERATING STRATEGY

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Industrial Services Modular Solutions

/BIFURCATED OPERATING STRATEGY

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/INDUSTRIAL SERVICES

Camps & AccommodationsCatering & Hospitality

Matting SolutionsOffice Spaces

Power SystemsRelocatable Structures

Rental OpportunitiesSite Work & Field Services

Soil StabilizationTransportation

UtilitiesWater & Wastewater

Operational Maintenance

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/ASSET AND FLEET DETAILS - INDUSTRIAL SERVICES

Assets Dec. 31, 2016 Mar. 31, 2017Total Rentable Beds 10,249 10,386Access Mats 29,834 33,232Relocatable Structures 1,039 1,034Other Rental Equipment 163 167Trucks & Trailers 47 47Loaders & Excavators 56 56

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1/3 Oilsands1/3 W5/W61/3 Non-energy

/WHERE WE OPERATE – INDUSTRIAL SERVICES

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/MODULAR SOLUTIONS

HotelsOffice Complexes

Senior CentersRetail and Franchise

Government InfrastructureMulti-family Developments

Luxury HomesSingle Family Dwellings

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/WHERE WE OPERATE - MODULAR SOLUTIONS

FutureCurrentModular Construction Locations

Okanagan Falls, BC

Kamloops, BC

Grande Prairie, AB

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/WHY BUILD MODULAR?

PROJECT COMPLETION

PROJECT COMPLETION

• Improved schedule and cost certainty• Improved product quality; manufactured in a controlled environment• Reduced waste and environmental footprint

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/COMMERCIAL PROJECTS

• Robust opportunity set • Multi-phased projects • Growing project backlog

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/DIRTT™ ENVIRONMENTAL SOLUTIONS AND ICE®

• Using technology to disrupt traditional design and construction methods

• Licensing and custom development of ICE®, DIRTT’s™ 3D design and visualization software

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/RESIDENTIAL PROJECTS

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/RESIDENTIAL PROJECTS

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/RESIDENTIAL QUALITY CERTIFICATION

One of two Holmes Approved Homes modular builders in Canada!

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/CHANNEL PARTNER MARKETING

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WE BELIEVE…

IN THE FUTURE OF HORIZON NORTH BECAUSE WE BELIEVE WE CAN LEAD THE INDUSTRY IN INNOVATION, ADAPTATION AND QUALITY.

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/HORIZON TOWN

IMAGINE YOUR NEXT TOWN… WE CAN HELP YOU!

HOTELS | OFFICES | RETAILAND FRANCHISE | GOVERNMENT INFRASTRUCTURE |

MULTI-FAMILY DEVELOPMENTS | LUXURY HOMES | SINGLEFAMILY DWELLINGS | INFRASTRUCTURE | WATER/WASTE WATER

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WE BELIEVE…

IN BUILDING A BETTER HORIZON NORTH FOR ALL STAKEHOLDERS.

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/HNL SNAPSHOT

COMMUNITIES

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Executive TeamRod Graham – President and Chief Executive Officer

Scott Matson – Senior Vice President and Chief Financial Officer

Joseph Kiss – Vice President Business Development Commercial

Warren Murray – Senior Vice President Camps & Catering Operations

Kapul Gill – Vice President Manufacturing

Darren Bolding – General Manager Horizon North Power Systems

Mike Hammerschmidt – Vice President Transportation & Logistics

Bill Anderson – Executive Vice President HSE and Quality

Pat Hammerschmidt – Vice President Aboriginal & Community Relations

Ben Bazinet – Vice President Human Resources

Lyle Guard – Vice President Legal & General Counsel

Jeff Strank – Vice President Business Development Industrial

Jeff Thomas – Vice President Sales & Marketing

Jan Campbell – Corporate Secretary

DirectorsAnn Rooney

Brad Fedora

Dale Tremblay

Kevin Nabholz – Chairman of the Board

Mary Garden

Richard Ballantyne

Russell Newmark

Rod Graham

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WE BELIEVE…

THE POSSIBILITIES ARE ENDLESS