A Global Leader in Integrated Clean Air Solutions for Industry

INVESTOR PRESENTATION
MARCH 2011

Integrated Clean Air Solutions for Industry 1

Safe Harbor Statement

In addition to historical information, this presentation contains forward-looking statements. These

statements relate to future events or our future financial performance. These statements are only
predictions and involve known and unknown risks, uncertainties, and other factors. The following
factors, among others, could cause our actual results and performance to differ materially from the
results and performance projected in, or implied by, the forward-looking statements: our dependence
on fixed price contracts and the risks associated therewith, including actual costs exceeding our
estimates and our method of accounting for contract revenue; our history of losses and possibility of
further losses; the effect of poor operating results on our company; fluctuations in operating results
from period to period due to seasonality of our business; the effect of growth on our infrastructure,
resources, and existing sales; our ability to expand our operations in both new and existing markets;
the potential for contract delay or cancellation; the potential for fluctuations in prices for manufactured
components and raw materials; our ability to raise capital and the availability of capital resources; our
ability to fully utilize and retain executives; the impact of federal, state, or local government
regulations; labor shortages or increases in labor costs; economic and political conditions generally;
and the effect of competition in the air pollution control and industrial ventilation industry.

We assume no obligation to publicly update or revise these forward-looking statements for any
reason, or to update the reasons actual results could differ materially from those anticipated in, or
implied by, these forward-looking statements, even if new information becomes available in the future.
Although the Company believes the expectations reflected in such forward looking statements are
reasonable, it can give no assurance that such expectations will prove to be correct.

Integrated Clean Air Solutions for Industry 2

CECO Investor Highlights

• Growing global demand for improved air pollution regulations

• Comprehensive portfolio, products, services, and integrated solutions

• Serving diverse industries and markets with strong brands

• Strong long term customer relationships to facilitate global growth

• Global market sales coverage expansion taking place

• Operational excellence standards to drive margin and cost leadership

• No bank debt and strong cash flow generation capabilities

• New executive leadership focused on growth and shareholder value

Integrated Clean Air Solutions for Industry 3

Who Are We?
We make clean air for industry all over the world.
Our systems, equipment and services:

 Remove airborne contaminants within industrial facilities

 Clean the air exhausted from those industrial facilities
 CECO will be positioned well at the intersection of these
critical global growth needs

Our Competitive Advantages

 Leading full-service provider of air pollution control and industrial

ventilation products and services
 Strong brand recognition and loyalty
 Long-standing customer relationships
 Technology leadership
 End-to-end solutions; integrated systems capability
 Globally focused

Integrated Clean Air Solutions for Industry 4

Key Facts About Us
 Company: CECO Environmental Corp.
 Exchange / Ticker: NasdaqGM / CECE
 Headquarters: Cincinnati, Ohio
 Share Price (1/7/11): $6.21
 52-Week High / Low: $6.53 / $3.31
 Shares O/S Basic/Diluted: 14.4 million / 17.8 million*
 Insider Ownership: 27.9%
 Market Cap: $89.7 million
 Enterprise Value: $100.5 million
 Revenue – TTM 9/30/10: $140.0 million
 Adj. EBITDA – TTM 9/30/10: $6.7 million
 Backlog (9/30/10): $55.2 million
 Bookings – TTM 9/30/10: $141.3 million

*Includes 2.7 million shares related to $10.8 convertible note issued in November 2009

Integrated Clean Air Solutions for Industry 5

Company Leadership

Phillip DeZwirek - Chairman

 Founder and Chairman of CECO Environmental Corp.
 Chairman of API Technologies Corp.

Jeff Lang - Chief Executive Officer

 30 years of industrial and energy-related operating and executive management experience 
 Former Executive Vice President, Operating Officer at McJunkin Red Man Corp.,
a Goldman Sachs portfolio company with $4.5 billion in annual sales
 25 years at Ingersoll Rand, including leading their Industrial Air Solutions sales, service and
operations for North America
 Bachelors degree – Ohio University, MBA – Averett University

Dennis W. Blazer - CFO and Vice President – Finance and Administration

 35 years of financial management experience
 Former CFO of Interlott Technologies – AMEX listed under symbol ILI
 Certified Public Accountant
 Bachelors degree – Ohio University

Integrated Clean Air Solutions for Industry 6

ACTIONS TAKEN - 2010

• Improved SG&A and Gross Margin focus

• Consolidated manufacturing footprint

• Streamlined and upgraded management team

• Raised operational excellence bar with balanced scorecard

• Aggressively focused on China, India and Brazil

• Re-engaged with investment community

• Sold non-core manufacturing real estate

Integrated Clean Air Solutions for Industry 7

STRATEGIC GOALS - 2011

• Grow revenue and continue margin improvement

• Complete manufacturing and operations consolidations

• Continue renewed North America sales and market coverage

• Continue expanding China operations

• Improve sales coverage in Brazil, India and Mexico

• Select bolt-on acquisitions

• Increase cash flow generation and shareholder return

Integrated Clean Air Solutions for Industry 8

Recent New Orders

INDUSTRY COUNTRY AMOUNT

Steel U.S. $5.2M
Refining Saudi Arabia $2.7M
Refining U.S. $2.5M
Refining Canada $1.5M
Automotive U.S. $0.7M
Refining Brazil $0.7M
Refining South Africa $0.7M
Power U.S. $0.5M

Integrated Clean Air Solutions for Industry 9

What We Offer

SERVICES (40%) EQUIPMENT (60%)

 Industrial Ventilation Engineering  Cyclones

 Pressure Vessel &  Thermal and Catalytic

Custom Fabrication A GLOBAL Oxidizers
LEADER IN
 Energy Management CLEAN AIR  Pulse Jet Baghouses
SOLUTIONS
 Stack Emission Testing  Scrubbers

 Electrostatic Precipitator Rebuilds  Dampers &

Expansion Joints
 Precipitator Controls and Parts
 Electrostatic Precipitators

Integrated Clean Air Solutions for Industry 10

Installations

FCC Cyclones Regenerative Thermal Oxidizer Severe Service Cyclone

Refinery Market Alternative Fuels Market – Ethanol Petrochemical Market

Pulse Jet Baghouse Fiber Bed Filtration Dampers

Cement and Minerals Market Chemical Process Market Power and Utility Market

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 Global Market Coverage
Sales Facilities Future Agents

526 Worldwide
Employees
73 Sales Engineers
71 Sales Rep Agents

Integrated Clean Air Solutions for Industry 12

Demand Driver: Regulation
U.S.
 EPA has mandated industrial air quality standards by requiring MACT
(Maximum Achievable Control Technology) for general air pollution
as well as for NOx, SO2 and mercury reduction.
 OSHA has established TLV (Threshold Limit Values) for more than
1,000 industrial contaminants.
 DOE promotes new technology growth in biomass and gasification
through its Financial Institution Partnership Program.
 States continually promulgate new Renewable Energy Standards
(RES) such as 12 to 15% technologies for electric companies.
Global
 Clean Air For Europe (CAFÉ) Policy Development for Air Pollution
Control in Europe.
 Eastern Europe Caucasus and Central Asia for Pollution Control
(EECCA) Joint Policy Development.
 Ministry of Environmental Protection – People’s Republic of China
(China has targeted 50% or greater reduction in SO 2 and NOx
emissions)

ENFORCEMENT OF THESE STANDARDS

IS EXPECTED TO INCREASE
Integrated Clean Air Solutions for Industry 13
Demand Driver: Energy Growth

Worldwide net electrical demand is projected to double by 2030.

Projected GW

20-Year Growth

Sources: DOE’s Energy Information Agency ( EIA) and

World Analysis & Forecast, McIlvaine Company

Integrated Clean Air Solutions for Industry 14

Demand Driver: Energy-Alternative Fuels

Biomass

 Energy Policy Act of 2005 mandates 7.5 billion gallons

of renewable fuels by 2012

 Energy Independence and Security Act of 2007 expands

mandate for US-grown biofuels to 36 billion gallons in 2022

 Ethanol from corn capped at 15 billion gallons; rest must come

from non-food cellulosic biomass

Gasification

 World gasification capacity is expected to grow

more than 70% by 2015

 80+% of the growth will occur in China and India

 US regulations will push demand for gasification

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Strong, Diverse and Global Customer Base

Integrated Clean Air Solutions for Industry 16

2010 Top 10 Customers (product, % of bookings)

 Delaware City Refining – FCC cyclones (4.3%)

 Siemens (Allegheny Steel) – ventilation systems (4.1%)
 Matheson Tri-Gas – ventilation systems (2.7%)
 Total Petrochemicals – FCC cyclones (2.3%)
 Arcelor Mittal – baghouses (2.1%)
 Foster Wheeler (Exxon) – FCC cyclones (2.1%)
 S&B Engineers (CITGO) – FCC cyclones (1.9%)
 Poet – oxidizers (1.7%)
 Siemens Energy – electrical equipment (1.7%)
 Appomattox – oxidizers (1.5%)

Integrated Clean Air Solutions for Industry 17

Global Installed Base of $2 Billion of Equipment
Representing Significant Recurring Revenue Opportunities

 Cyclones and Scrubbers

 Pulse Jet Fabric Baghouses
 ESP, Electrostatic Precipitators
 Dampers, Louvers, Flex Connectors
 SO2 Filtration
 Specialty Ventilation Equipment
 Thermal Regenerative Oxidizers

Integrated Clean Air Solutions for Industry 18

Our Growth Strategy

 Leverage customer relationships to expand globally

 Continue investments into emerging markets (China, Brazil and India)

 Continue to focus on streamlining operations and manufacturing to

enhance profitability

 Continue focus on higher value-added opportunities with improved

margin potential

 Expand product offerings, services, and technologies

 Operational excellence – running smart, lean, and best-in-class

processes

Integrated Clean Air Solutions for Industry 19

2010 Global Bookings by Industry - $129M

21.2% 23.5%
Refining

Power

Sheet Metal
4.5%
Chemical

Steel
9.0%
Automotive
17.5%
General Mfg/Other

11.7%
12.6%

Integrated Clean Air Solutions for Industry 20

A Global Leader in Integrated Clean Air Solutions for Industry

FINANCIAL INFORMATION

Integrated Clean Air Solutions for Industry 21

Revenues*
$ in 000’s

*Excluding revenues from discontinued operations

Integrated Clean Air Solutions for Industry 22

Increasing Gross Margins
Improvement due to product mix, price management,
global customer base and operational streamlining

Integrated Clean Air Solutions for Industry 23

Adjusted EBITDA*
$ in 000’s

*See appendix for reconciliation to GAAP net income

Integrated Clean Air Solutions for Industry 24

September 30 YTD Results - in 000’s

23.5%

2.9%

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Strong Cash Flow & Debt Reduction
$ in 000’s
Selected balance sheet information:
9/30/2010 12/31/2009
Cash & cash equivalents $4,185 $1,393
Total assets $73,059 $ 77,500
Total bank debt (1) $3,099 $ 2,700
Convertible debt* $10,800 $ 10,800
Shareholders’ equity $33,996 $ 31,800

Cash flow information – 12 months ended: 9/30/2010 12/31/2009

Operating cash flow $3,249 $ 14,900
Debt (borrowings) repayment ($ 579) $ 13,600

(1)
Total bank debt at 12-31-10 is $0
*Convertible at $4.00 per share
Integrated Clean Air Solutions for Industry 26
 A Global Leader in Integrated Clean Air Solutions for Industry

Contact Information:

Jeff Lang – Chief Executive Officer

Phone: 513-458-2602
Email: jeff.lang@cecoenviro.com

Dennis Blazer – Chief Financial Officer

Phone: 513-458-2676
Email: dblazer@cecoenviro.com

Integrated Clean Air Solutions for Industry 27

A Global Leader in Integrated Clean Air Solutions for Industry

Thank You!

Integrated Clean Air Solutions for Industry 28

 APPENDIX

Integrated Clean Air Solutions for Industry 29

Key Markets Served

Petrochemical Chemical Alternative Fuels

Refining Processing Biomass – Ethanol

Metals Energy Power – Industrial

and Minerals Utility Manufacturing

Integrated Clean Air Solutions for Industry 30

Markets Served

Metals Energy Industrial

and Minerals Power – Utility Manufacturing

EQUIPMENT EQUIPMENT EQUIPMENT

• Rolling Mill Filtration
• Pulse Jet Baghouses
• Scrubbers
• Cyclones
• Dampers Expansion Joints
• Electrostatic Precipitators
• Classifiers
• SCR’S • Pulse Jet Baghouses
• Pulse Jet Baghouses • Cyclones
• Scrubbers • Oil Mist Collectors
• Cyclones • Dampers & Exp. Joints
• Damper & Expansion Joint • Electrostatic Precipitator

SERVICES SERVICES SERVICES

• Ventilation Engineering • ESP Rebuild • Ventilation Engineering

• Stack Testing • ESP Conversion Fabric Filter • Stack Testing
• Energy Management • Sheet Metal Fabrication • Energy Management
• Air Balancing • Pressure Vessel Fabrication • Air Balancing
• Sheet Metal Fabrication • Precipitator Control-Parts • Sheet Metal Fabrication
• Installation Equipment • Installation Equipment

Integrated Clean Air Solutions for Industry 31

Markets Served - continued

Alternative Fuels Chemical Petroleum

Biomass – Ethanol Processing Refining
Gasification

EQUIPMENT EQUIPMENT EQUIPMENT

• Thermal Oxidizers • Baghouses • FCC Cyclones

• Pulse Jet Baghouses •Scrubbers • Dampers & Exp. Joints
• Scrubbers • Cyclones Mesh Pads
• Cyclones • Dampers & Expansion Joints
• Dampers & Expansion. Joints Fiber Bed Filtration

SERVICES SERVICES SERVICES

• Ventilation Engineering • Ventilation Engineering • Precipitator Rebuild

• Stack Testing • Stack Testing
• Sheet Metal Fabrication • Sheet Metal Fabrication
• Installation Pollution Control • Installation Pollution Control

Integrated Clean Air Solutions for Industry 32

Reconciliation
ADJUSTED OPERATING INCOME TO GAAP OPERATING INCOME
2010
2006 2007 2008 2009
TTM
Operating income as reported $6,047 $12,634 $9,164 $(15,830) $(12,928)
Non cash goodwill impairment 17,110 17,110
Adjusted Operating Income $6,047   $12,634 $9,164 $1,280 $4,182
ADJUSTED EBITDA TO GAAP NET INCOME
Net Income $3,094 $6,305 $5,010 $(15,032) $(15,267)
Interest expense 1,997 1,978 1,479 1,321 942
Depreciation 1,139 1,232 1,605 1,760 1,438
Amortization 90 391 1,551 759 519
Warrant (income) expense (842) - - - -
Non cash stock compensation 143 741 1,189 997 983

Non cash goodwill impairment - - - 17,110 17,110

Income tax expense (benefit) 1,768 4,361 2,969 (3,144) 1,008
Adjusted EBITDA $7,389 $15,008 $13,803 $3,771 $6,733

Integrated Clean Air Solutions for Industry 33