March 27, 2008

• Outstanding units: 8,128,496

• Unit price: $19.70

• Market cap: $160 million

• Monthly distribution of: $0.09

TSX Venture: CVL.UN

March 07March 08

• 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

• 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 central 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

• Management owns approximately 40% of the outstanding units

• Revenue and earnings up over 540% from 2003 - 2006

Company Background and Achievements

Shareholder Returns

5 year return (since inception)

144% annual compounded return

3 year return 41% annual compounded return

1 year return 101% annual compounded return

Our Locations

Cervus operates 12 John Deere stores in Western Canada and 5 Bobcat/JCB stores in

Alberta

Equipment

Percent of Revenue by Segment(for year ended December 31, 2007)

Agriculture Revenue by Segment(for year ended December 31, 2007)

Construction Revenue by Segment(for year ended December 31, 2007)

Years ended December 31, 2007 2007 2006 2005 2004 2003

Revenue ($ millions) 305.0 269.1 182.4 141.6 56.4

Net earnings available to partners ($millions)

11.4 8.6 4.9 3.7 2.1

Total partners equity ($ millions) 48.4 36.2 25.0 7.7 5.1

Total long term liabilities ($ millions) 8.9 9.3 7.6 7.6 5.6

Total Assets 113.3 107.5 89.2 33.4 26.2

Financial Highlights

Our Mission

Cervus LP 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.

Partnership Profile

Cervus LP is in the business of acquiring and operating authorized agricultural and industrial equipment dealerships by facilitating dealership succession and providing capital, resources, training and opportunity for the next generation of equipment dealers in Canada. The Partnership is the owner of the largest group of John Deere agricultural equipment dealers in Canada. Additionally, as owners of Bobcat, JCB and JLG dealerships of Alberta, Cervus LP has secured a significant presence in the thriving construction and industrial equipment sectors. The Partnership operates through 17 dealer stores in 14 locations across Alberta, Saskatchewan and western Manitoba, and is a public limited partnership listed on the TSX Venture Exchange, trading under the symbol CVL.UN.

Growth Strategy

1. Stick to what we do best • equipment dealerships• we will look at other brands and sectors

2. Leveraging our resources through clustering

• We buy existing cluster or individual stores that fit intoa current cluster

3. Mitigate overall risk through diversification• Diversification of territory and sectors

4. Proven success• We do not buy “fixer-uppers”

5. Skilled, knowledgeable people• Focused on developing our bench strength for tomorrow• Partnering with local entrepreneurs and world class

manufacturers

6. Effective due diligence and integration planning

7. Do not overpay• We buy at 3 to 4 times pre-tax earnings

Senior Management Team Experienced, Entrepreneurial…

Peter 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 LP, in 1999). Mr. Lacey’s corporate experience also extends beyond Cervus, as he is the Chairman of Eveready Income Fund (EIS.UN-T).

Randy Muth, CFO, holds the CA designation (Alberta) and the CPA designation (Illinois) and joined Cervus LP 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, GM of the Construction Division, has held various managerial roles in the industrial equipment and transportation sector since the late 1970s