Company Overview

December 31, 2009Stock Price

•Outstanding Units: 14,139,614•Unit Price: $12.81•Market Cap: $181,128,455•Quarterly Distribution: $0.18

TSX Venture: CVL.UN

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Our Business Cervus Equipment

Corporation• Previously a publicly traded limited partnership and has recently converted to a corporation

• listed on the TSX Venture exchange

• Aggregator of equipment dealerships

• Two of the strongest brands in our market sectors – John Deere and Bobcat

• JCB – a strong brand in the UK, Europe, and Asia

• Sustainable performance

• Experienced management team

Company Background

& Achievemen

ts

1982 -2003 Founding shareholders involved with John Deere dealerships/ John Deere in Western Canada

2003 Cervus LP begins in March 2003 with 5 John Deere Agriculture Equipment stores in Alberta. Adds 2 more John Deere stores in Saskatchewan in November

2004 Acquires three additional John Deere stores, two in Saskatchewan and one in Manitoba

2005 Acquires 5 stores in Alberta selling Bobcat, JCB and JLG construction equipment and completes a $12 million private placement.

2006 Acquires a John Deere store in Watrous, Saskatchewan and closes a low performing store in south eastern Saskatchewan

2007 Acquires a John Deere dealership in Olds, Alberta 40 minutes north of Calgary

2008 Completes $25 million bought deal at $25 per unit.

2008 Acquires 2 John Deere stores in Melfort and Prince Albert Saskatchewan

2009 Acquires 2 John Deere stores in Pincher Creek and Claresholm Alberta and 1 store in Cranbrook British Columbia

2009 Converts to a corporation through transaction with Vasogen and now operates as Cervus Equipment Corporation

Our Locations

Cervus operates 22 John Deere, JCB, and Bobcat stores in Western Canada

Mapping our Success

Equipment

Percent of Revenue by Segment(for year ended December 31, 2008)

Agriculture Revenue by Segment(for year ended December 31, 2008)

Construction Revenue by Segment(for year ended December 31, 2008)

Financial Highlights

Revenue ($ millions)

Total Assets($ millions)

Net Earnings

($ millions)

Fiscal Overview

2008

Years ended December 31, 2008Annual

2008Annual 2007 % Change

Revenue ($ millions) 348.7 305.0 +14%

Net earnings available to partners ($millions) 22.2 11.4 +95%

Total partners equity ($ millions) 90.0 48.4 +86%

Quarterly Overview

$ thousands, except per unit amounts

Sept 30, 2009

June 30, 2009

March 31, 2009

Dec 31, 2008

Revenues 121,195 105,701 66,340 69,790

EBITDA 10,076 8,702 3,071 4,019

Funds from operations

Net earnings 8,744 7,330 1,675 2,635

Basic earnings per unit 0.62 0.52 0.12 0.19

Diluted earnings per unit 0.61 0.51 0.12 0.19

Weighted average units outstanding - basic

14,117 14,087 14,040 14,085

Fully diluted 14,361 14,258 14,190 14,147

Historical Agricultural Prices (Oats, Canola, Flaxseed)

Cervus & John Deere Stock Price Compared On A Percentage Basis

ARW Locations

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Our Mission

Cervus Equipment Corporation is in the business of acquiring

and operating authorized agricultural and industrial equipment

dealerships by facilitating dealer succession and providing

capital, resources, training and opportunity for the next

generation of dealers to effectively position them for

profitability and growth.

“Leading brands, a company-wide customer commitment, plus a skilled and dedicated team - this is why Cervus excels at what we do”

Corporate Conversion

StrategyCervus LP and Vasogen• Conversion is primarily motivated by

changes to Canadian federal income tax legislation

• Cervus provided $7.5 million to Vasogen

• Vasogen renamed Cervus Equipment Corporation

• A 3 for 2 stock split has been completed

• Quarterly dividend payments commenced in the fourth quarter 2009 of $0.18 per common share

• Will gain an estimated tax shield in excess of $225 million following the agreement

Growth Strategy

“We are a leadership company building

diverse and robust businesses that can perform through any cycle.”

Effective, Efficient Operations

We are migrating to a system of centralized processing and administration

in order to realize on the efficiencies now available through centralized

processing.

Trained, Experienced, Engaged Employees

A strong commitment to employee ownership ensures our employees have a

vested interest in the company’s performance and enjoy the fruits of their

labour while providing Cervus Equipment Corporation with a competitive

advantage.

Diversified, Well-Capitalized Dealership Networks

We need to grow in order to enhance the range and depth of services we

offer our customers and keep pace with consolidation. Significant growth

opportunities to take advantage of include consolidation of equipment

dealerships, plus geographical and market diversification.

Growth Strategy

Managing The Competitive Environment

We believe that in order for Cervus Equipment Corporation to have

sustainable earnings we must answer the competitive threat on three levels:

attention to our customers, partnering with our suppliers and strong market

presence.

Customer Focus

Customer satisfaction is a key performance criteria used in evaluating

dealership performance. Customer input is obtained formally and informally

and is used to modify dealership processes to improve our customer service.

Partnering With Suppliers

A strong relationship with our manufacturers is critical to ensuring product

delivery, price competition and quick response to competitive pressures.

Strong Market Presence

We believe that a strong market presence is a key factor in driving top and

bottom line results. We accomplish this by providing world-class products

and services to our customers at competitive prices.

Senior Managemen

tPeter Lacey, CEO, has been affiliated with the farm equipment industry for many years, having bought his first John Deere dealership in 1982 in Red Deer, AB. Mr. Lacey founded Cervus Corp. (the predecessor to Cervus Equipment Corporation, in 1999).

Randy Muth, CFO, holds the CA designation (Alberta) and the CPA designation (Illinois) and joined Cervus Equipment Corporation in the fall of 2005. Randy has worked for national and international companies in Canada and the US in finance and operational roles since the early 1980s.

Graham Drake, VP of Operations for the Agriculture Division, has been an owner/operator of a farm equipment dealership and has held various managerial and sales roles with John Deere Ltd. since 1982.

John Higgins, VP of Operations for the Construction Division, has held various managerial roles in the industrial equipment and transportation sector since the late 1970s

“These are positive times for Cervus Equipment Corporation. Strong

demand, especially in the agricultural sector, plus acquisition

opportunities at reasonable values, means we are in the forefront of a public market looking for growth stories like ours.”

Why Buy Cervus • Quarterly distributions of $0.18

• Experienced management team

• Young growth-orientated employees and

owners

• Opportunities for continued growth

• Agriculture is still strong despite recession

• Continued profitable dealerships

• Construction, although down, is still a good

long-term investment as infrastructure is still

needed in western Canada

Thank You