Corporate Overview

December 2017
Company
Overview

> Westport and Fuel Systems merged in June
2016, bringing together two industry leaders
> Nancy Gougarty appointed CEO in July 2016
> Global management team with extensive
industry experience
> Focusing on core business
DRIVING INNOVATION TO POWER A CLEANER TOMORROW
The premier global company for the engineering, manufacturing
and supply of alternative fuel systems and components.
Transformative Actions Set Company on a Sustainable Path Forward
> Repaid $55M CDN debentures at maturity on
September 15, 2017
> Westport™ HPDI 2.0 commercialization
> Positive adjusted EBITDA expected in early 2018
> Continuing to evaluate company's portfolio for exits
and divestitures

SEGMENTS
1. Adjusted EBITDA is a non-GAAP number
Automotive
• Systems and components for passenger cars,
commercial vehicles, trucks
• Electronics and high pressure components
• CNG refueling
• OEM & aftermarket
Corporate & Technology
• Advanced engineering
• GDI / PFI technology
• HPDI (High Pressure Direct Injection engine technology)
• HESI (High Efficiency Spark Ignited engine technology)
• Cryogenics (Fuel Storage and delivery solutions)
• 2017 revenue range expected $200-230M
• 6% AEBITDA margin YTD
• Target 7-10% AEBITDA margins in 2018 and
beyond
Cummins Westport JV
• 50% ownership of Cummins Westport Inc.
(“CWI”)
• Medium to heavy duty engine markets (trucks,
buses, refuse trucks & tractors)
• Continued strength in bus and refuse markets
• New ultra-low emissions engine lineup for 2018
• $41.5M in cash dividends since 2015
• Westport™ HPDI 2.0 launched
• R&D spend expected to decline in 2018
• New development programs expected to be
funded by 3rd parties

MARKET LEADERSHIP
Broad Range of Brands and Products for Diverse Applications
BREADTH OF REACH
Medium-Duty Heavy-DutyPassenger Car & Light Truck
Refueling ElectronicsHigh Horsepower
BRAND EQUITY IN ALTERNATIVE FUEL SPACE

> Market leader for alternative fuel systems and components
> Serves customers in 70+ countries with leading brands
> Vertically integrated solutions (OEM, DOEM1) and
aftermarket kits
> Propane (LPG), natural gas (CNG & RNG), and hydrogen
solutions create fuel cost savings and reduced emissions
AUTOMOTIVE SEGMENT
Complete Product Lines for Various Fuels and Markets
1. Delayed OEM (“DOEM”) refers to vehicles up-fitted with components and systems after coming off the OEM’s assembly lines but before the vehicle reaches
the dealer or end customers
Global Customers
Our Brands

High pressure
CNG lines
CNG
cylinder
valve
Filling valve & external
CNG filling valve
CNG & LPG
reducer
Fuel injection railCNG & LPG
filter
Electronic
controls
AUTOMOTIVE SEGMENT
Examples of Westport Fuel Systems Content in Vehicles

> More than 50M LPG and CNG vehicles globally, ~4% of total1
> Many countries have penetration rates in excess of 10%
> Each region has its own characteristics: fuel price differential,
government policies and fueling infrastructure
> Market consolidation in recent years; OEMs demanding more
technologically advanced products (direct injection, etc.)
> Westport Fuel Systems has taken and will continue to
take extensive efforts to improve its operating efficiency
 Expected 2017 segment revenues of $200-230M
 Target AEBITDA margins of 7-10% in 2018 and beyond
AUTOMOTIVE SEGMENT
Market Dynamics and Outlook
1. Source: NGV Global, World LPG Association, Wards
Global Sales Reach
Europe
64%
Americas
15%
Asia
14%
Other
7%
YTD 2017 Revenue
(by destination)

CUMMINS WESTPORT
JOINT VENTURE

CUMMINS WESTPORT JOINT VENTURE
Global Leader in Spark Ignited Natural Gas Engines
> 50% Joint Venture with Cummins Inc. formed in 2001;
ends in 2021
> Develops and sells 5.9-12.0 litre spark-ignited natural gas
engines for trucks and buses
> Over 70,000 Cummins Westport engines on the road
worldwide
> ~30% of new transit buses and ~50% of new refuse trucks in
North America are built with Cummins Westport engines
> Westport received $41.5 million in cash dividends from
Cummins Westport since 2015

> “Move to Zero” emissions strategy
 All engines at low or ultra-low NOx, 50% to
90% below current standards
 Able to run on renewable natural gas (RNG)
> EPA/ARB Ultra Low emissions and On-Board
Diagnostics (OBD) certification
> Lowest emission medium- and heavy-duty
engines in North America
> Equivalent emissions comparable to battery
electric vehicles when used with RNG
> ISX12N will be the only zero emissions
(“electric equivalent”) heavy duty truck
offering in the world – likely for several years
CUMMINS WESTPORT LINEUP
2018 Dedicated Natural Gas Engines

> “Move to Zero” emissions strategy offers performance and
reliability at an ultra-low emissions level, available TODAY
> Strength in bus and refuse markets: continued positive owner-
operator feedback
> Higher spending in recent years to develop 6.7 litre engine,
ultra-low NOx technology, and to meet federal OBD regulation
> No new R&D programs are expected following new engine
launch in 2018, significantly reducing spending
> Westport to appoint CWI’s next President per the JV agreement
effective Jan 2018 to Dec 2020
CUMMINS WESTPORT
Outlook

> Proprietary technologies and vast intellectual property portfolio
 Advanced Engineering
 HPDI (High Pressure Direct Injection engine technology)
 HESI (High Efficiency Spark Ignited engine technology)
 Cryogenics (fuel storage and delivery solutions)
CORPORATE AND TECHNOLOGY
Delivering Products for Tomorrow

Technology
Proven!
CORPORATE AND TECHNOLOGY
Fully Integrated Westport™ HPDI 2.0 Truck Solution
HPDI 1.0
Launched
HPDI 2.0
Launched
2010 2011 2012 2013 2014 2015 2016 2017
HPDI 1.0
Production
Ended
> Based on Cummins ISX15
> Fuel system installed by Westport
> Sold and warranted by Westport
> 1,300 trucks put in service in North
America and Australia between
2007 and 2013
> Based on OEM engine
> Built, sold and warranted by OEM
> Improved components
> Reduced costs
> OEM validation
> Asset-light business model
HPDI 1.0 HPDI 2.0

WESTPORT HPDI 2.0 TRUCK SOLUTION
Gas Conditioning
Module (GCM) HPDI Control
Software
Tank Selection
Control Manifold
Gas Temperature Sensor
LNG Tank ModuleOEM Engine
Integrated Gas Module
LNG Pump
Control Manifold
Fuel Level Signal
CANditioner
Cryogenic High
Pressure Pump
High Pressure
Direct Injector
On Engine On Chassis On LNG Tank

> Westport™ HPDI 2.0 orders fulfilled to OEM launch
partner
> Westport Fuel Systems is a Tier 1 supplier with a
fully integrated solution
> Europe initial target market due to demand for GHG
reduction and higher diesel prices
> Active discussions with multiple OEMs
 New programs expected to be funded by 3rd parties
and will build on existing HPDI 2.0 technology
> 15-50 month payback periods expected in some
markets4
> R&D and Capex spend expected to decline in 2018
following product launch
WESTPORT™ HPDI 2.0 COMMERCIALIZATION
Significant Milestone for the Company
1. Source: Volvo AB annual report
2. Source: ENGIE - Blue Corridors report
3. Source: www.globalpetroprices as of November 6, 2017
4. See payback calculations on pages 28-29 in appendix
5. 1 Diesel Liter Equivalent = 0.765 kg of CNG (Source: BLU LNG)
222,000
240,400 227,600
270,000
300,000
2012 2013 2014 2015 2016
TruckSales
HD Truck Sales in Europe1
49 46.5 48 49
94
5
0
21 20
15
France Belgium The
Netherlands
Germany Switzerland
Different Excise Tax on Fuels
Between Countries in Europe2
Diesel Gas
Diesel Fuel Prices / litre by Country3
€/litre(diesel),€/kg(gas)5
1.60
1.45
1.37
1.39
1.36
1.31
1.29
1.31
1.27
1.25
1.27
1.25
1.17
1.15
1.12
0.79
0.63
Norway
Sweden
UK
Italy
Switzerland
Belgium
Denmark
Finland
Portugal
Ireland
France
Netherlands
Germany
Czech Rep.
Spain
Canada
USA
€/litre

> Turnaround on track
> Now focused on operational excellence
> 2017 Automotive revenues of $200-230M
AUTOMOTIVE SEGMENT
*Adjusted EBITDA is a non-GAAP number
2016 numbers adjusted to exclude discontinued operations
($ in millions) Q3 2016 Q3 2017 Better/(Worse) Q4 2016 Q1 2017 Q2 2017 Q3 2017
Total Revenues 53.6 60.0 12% 59.1 56.4 60.8 60.0
Gross Margin 7.0 14.4 106% 12.4 13.8 14.6 14.4
GM% 13% 24% - 20% 25% 24% 24%
R&D $5.0 $3.9 22% $4.2 $3.9 $4.2 $3.9
SG&A $7.5 $9.7 (29%) $8.9 $8.8 $8.1 $9.7
Adjusted EBITDA* (1.2) 3.8 417% 0.4 3.6 3.1 3.8
Adjusted EBITDA %* (0.2%) 6% - 0.7% 6% 5% 6%
YEAR OVER YEAR SEQUENTIAL

> First comparable quarter post merger
Revenue growth bolstered by
currency
Better product profitability
Lower spending
Improved net income
Strengthened balance sheet
*Adjusted EBITDA is a non GAAP measure. A complete reconciliation of adjusted EBITDA can be seen in the MD&A
WFS Q3 CONSOLIDATED RESULTS
($ in millions) Q3 2016 Q3 2017 Better/(Worse)
Total Revenues 56.1 60.8 8%
Gross Margin 8.7 14.8 70%
GM% 16% 24% -
Operating Expenses 41.0 34.9 15%
Net Income (Loss) from Continuing Operations (33.6) (15.7) 53%
Adjusted EBITDA* (10.8) (5.0) 54%
Long-Term Debt 79.0 36.3 54%

WFS POSITIVE EARNINGS TREND
Income & Adjusted EBITDA
Adjusted EBITDA is a non GAAP measure. A complete reconciliation of adjusted EBITDA can be seen in the MD&A.
Positive and improving
Automotive adjusted
EBITDA margins
Lower R&D spending in
Corporate and Tech
segment
Cost reductions in general
and administrative costs
Positive CWI net income
contributions
-$200
-$180
-$160
-$140
-$120
-$100
-$80
-$60
-$40
-$20
$0
$20
2013 2014 2015 2016 2017 Sep YTD
($inmillions)
Adjusted EBITDA Income from Operations
Positive trend:

> Market ready technology solutions, available today
> Path towards becoming a profitable and sustainable company
 Strengthened balance sheet and liquidity position
 Restructured and improved the company’s consolidated adjusted EBITDA
> Focus on delivering our commitments
CONTINUED EXECUTION
Adjusted EBITDA is a non-GAAP number. A complete reconciliation of Adjusted EBITDA can be seen in the MD&A.

This presentation contains forward-looking statements, including statements regarding the result, timing and financial metrics associated with Westport Fuel Systems' operating business units and
consolidated business, revenue and research and development expenditure expectations, Target adjusted EBITDA margins, timing and amounts relating to adjusted EBITDA, the effect of the
reorganization and restructuring of our business, the demand for our products, the future success of our business and technology strategies, investment in new product and technology development and
otherwise, cash, capex and capital requirements and future levels, intentions of partners and potential customers, the performance and competitiveness of Westport's products and expansion of product
coverage, future market opportunities, speed of adoption of natural gas for transportation and terms and timing of future agreements as well as the combined company’s management's response to any of
the aforementioned factors. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties and are based on both the views of management and
assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activities, performance or achievements expressed
in or implied by these forward looking statements. These risks and uncertainties include risks and assumptions related to our revenue growth, revenues attributable to HPDI, operating results, industry and
products, the general economy, conditions of and access to the capital and debt markets, governmental policies, regulation and approvals, technology innovations, fluctuations in foreign exchange rates,
operating expenses, the availability and price of natural gas, global government stimulus packages, the acceptance of and shift to natural gas vehicles, the relaxation or waiver of fuel emission standards,
the inability of fleets to access capital or government funding to purchase natural gas vehicles, the development of competing technologies, our ability to adequately develop and deploy our technology, the
actions and determinations of our joint venture and development partners, as well as other risk factors and assumptions that may affect our actual results, performance or achievements or financial position
discussed in Westport’s most recent Annual Report on Form 40-F for the year ended December 31, 2016, and other filings made by the companies with securities regulators. Readers should not place
undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in
our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward
looking statements except as required by National Instrument 51-102. The contents of any website, RSS feed or twitter account referenced in this presentation are not incorporated by reference herein.
This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation
of any vote in any jurisdiction pursuant to the proposed transactions or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer
of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the United States Securities Act of 1933, as amended. Subject to certain exceptions to be approved
by the relevant regulators or certain facts to be ascertained, the public offer will not be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such
jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a
national securities exchange, of any such jurisdiction.
This presentation contains certain financial outlook information and related financial projections for Westport Fuel Systems based on a number of assumptions. Such financial outlook information is
provided solely to allow readers to better model potential opportunities available to Westport Fuel Systems and estimate financial performance of various business segments and may not be appropriate for
any other purpose and should not be relied upon.
In this presentation, we present Adjusted EBITDA, which was derived on the basis of methodologies other than in accordance with U.S. generally accepted accounting principles.
We use Adjusted EBITDA in a number of ways to assess our consolidated operating performance and believe this information is helpful to investors in identifying trends in our operating performance.
However, Adjusted EBITDA should be considered supplementary information and should not be used as a substitute for GAAP measures of operating performance and cash flow. See the Company's
Financial Report to Shareholders for the period ended June 30, 2017.
CAUTIONARY NOTE
Forward Looking Statements

ALTERNATIVE FUEL CAPABILITIES
Broad Range of Fuels that Deliver Emission Reductions
CNG
Compressed
Natural Gas
• Components and
complete systems
• Breadth of applications
• Monofuel, bi-fuel, dual
fuel solutions
LPG
Liquefied Petroleum
Gas / Propane /
Autogas/ BioLPG
• Components and
complete systems
Automotive - vapor and
liquid LPG
• Monofuel, bi-fuel, dual
fuel solutions
LNG
• Complete systems
• Unique cryogenic
expertise
• Weight advantage
over CNG
• Fuel storage solutions
Liquefied
Natural Gas
RNG
• 100% substitute for fossil
based CNG & LNG
(also HPDI 2.0 solution is
compatible with RNG)
• Fuel storage solutions
Renewable
Natural Gas
(Biomethane)
H2
• High pressure
components available
• Automotive applications
• Hydrogen/CNG blends or
pure hydrogen
Hydrogen

> Long history and deep technology
innovation and engineering capabilities
> Strong intellectual property position
 Existing and applied for patents
covering CNG, LNG, and LPG
components and systems worldwide
 Significant investment in research
and development for gaseous fuelled
transportation applications
MARKET LEADER
Leading Premier Technology Position
* As of July 11, 2017 and based on the patent search results of publicly available data within the International Patent Classification F02, meeting the search
term criteria: one of ("engine" or "combustion" or "injector" or "injection valve") and ("natural gas" or "methane" or "gaseous fuel") and in the claims, not ("fuel
cell" or "turbine"). This chart includes published patent applications and issued or granted patents from: Argentina, Australia, Austria, Belgium, Brazil,
Bulgaria, Canada, China, Czech Republic, Denmark, Eurasian Patent Organization, European Patent Office, Estonia, Finland, France, Georgia, Germany,
Greece, Hong Kong, Hungary, India, Ireland, Italy, Japan, Latvia, Luxembourg, Malaysia, Mexico, Moldova, Netherlands, New Zealand, Norway, Philippines,
Poland, Portugal, Romania, Russian Federation, Serbia, Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan,
Tunisia, UK, Ukraine, USA, USSR, Yugoslavia, and the World Intellectual Property Office.
139
175
182
240
285
287
370
378
670
686
Daewoo
Continental
Denso
GE
Porsche
Bosch
Ford
Toyota
Caterpillar
Westport Fuel Systems
Top 10 Companies with
Gaseous Fuel Engine Related Patents*
• On-engine system
• Off-engine system
• Full system integration
• Components

WESTPORT HIGH PRESSURE DIRECT INJECTION
> Revolutionary new alternative fuel technology for heavy duty truck
segment; 90-95% natural gas and 5% to 10% diesel fuel
> Current natural gas truck engines use spark ignition to initiate
combustion, which is less efficient and powerful than the equivalent
diesel engine. More energy (heat) goes out the exhaust – 10% to 15%
higher fuel consumption
> HPDI uses direct injection and compression ignition – same as a diesel
engine
> Same horsepower, torque and fuel efficiency as the equivalent
diesel engine
> No change to major engine components, powertrain, gearing, exhaust
after-treatment system, cooling capacity or engine braking
HPDI 2.0 HAS 20% LOWER TANK-TO-WHEEL GHG EMISSIONS THAN AN EQUIVALENT
DIESEL ENGINE AND CAN RUN ON 100% RENEWABLE FUELS.

> 152 current stations in operation
 123 public, 29 private
 3 countries have over 20 each:
the UK (many private), Spain, and
the Netherlands
> 137 future stations identified
 135 public, 2 private
 Impressive growth in France
 Start-up in Hungary, Romania and
other countries
LNG STATIONS IN EUROPE
Source: GLE database, LNG Blue Corridors project, NGVA Europe, Westport Fuel Systems analysis – November 2017 Update

WESTPORT™ HPDI PAYBACK ANALYSIS
* NOTE: ALL PRICES WILL BE SET BY THE OEM ** DLE = Diesel Liter Equivalent
Source: Fuel price data from www.globalpetroprices.com and Westport Fuel Systems analysis
In Various Countries
FOR ILLUSTRATIVE PURPOSES ONLY
Incremental Truck Cost for HPDI *
Country A Diesel HPDI Diesel HPDI Diesel HPDI Diesel HPDI Diesel HPDI
Diesel Fuel Cost/liter € 1.49 € 1.49 € 1.49 € 1.49 € 1.49 € 1.49 € 1.49 € 1.49 € 1.49 € 1.49
LNG Fuel Cost/DLE** € 0.76 € 0.76 € 0.76 € 0.76 € 0.76 € 0.76 € 0.76 € 0.76 € 0.76 € 0.76
Annual distance (km) 120,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000
Diesel Liters used per year 36,000 2,182 36,000 2,182 36,000 2,182 36,000 2,182 36,000 2,182
LNG DLE** used - 34,178 - 34,178 - 34,178 - 34,178 - 34,178
Annual Fuel Cost € 53,640 € 29,226 € 53,640 € 29,226 € 53,640 € 29,226 € 53,640 € 29,226 € 53,640 € 29,226
Annual Fuel Cost Savings € 24,414 € 24,414 € 24,414 € 24,414 € 24,414
Payback Period (months)
Country B Diesel HPDI Diesel HPDI Diesel HPDI Diesel HPDI Diesel HPDI
LNG Fuel Cost/DLE** € 0.62 € 0.62 € 0.62 € 0.62 € 0.62 € 0.62 € 0.62 € 0.62 € 0.62 € 0.62
LNG DLE** used - 34,178 - 34,178 - 34,178 - 34,178 - 34,178
Annual Fuel Cost € 45,720 € 23,962 € 45,720 € 23,962 € 45,720 € 23,962 € 45,720 € 23,962 € 45,720 € 23,962
€ 35,000 € 40,000 € 45,000 € 50,000 € 60,000
19.3 22.1 24.8 27.6 33.1
€ 35,000 € 40,000 € 45,000 € 50,000 € 60,000
17.2 19.7 22.1 24.6 29.5

WESTPORT™ HPDI PAYBACK ANALYSIS
In Various Countries
* NOTE: ALL PRICES WILL BE SET BY THE OEM ** DLE = Diesel Liter Equivalent
Source: Fuel price data from www.globalpetroprices.com and Westport Fuel Systems analysis
FOR ILLUSTRATIVE PURPOSES ONLY
Country C Diesel HPDI Diesel HPDI Diesel HPDI Diesel HPDI Diesel HPDI
LNG Fuel Cost/DLE** € 0.70 € 0.70 € 0.70 € 0.70 € 0.70 € 0.70 € 0.70 € 0.70 € 0.70 € 0.70
LNG DLE** used - 34,178 - 34,178 - 34,178 - 34,178 - 34,178
Annual Fuel Cost € 54,000 € 27,198 € 54,000 € 27,198 € 54,000 € 27,198 € 54,000 € 27,198 € 54,000 € 27,198
Country D Diesel HPDI Diesel HPDI Diesel HPDI Diesel HPDI Diesel HPDI
LNG Fuel Cost/DLE** € 0.76 € 0.76 € 0.76 € 0.76 € 0.76 € 0.76 € 0.76 € 0.76 € 0.76 € 0.76
LNG DLE** used - 34,178 - 34,178 - 34,178 - 34,178 - 34,178
Annual Fuel Cost € 40,320 € 28,419 € 40,320 € 28,419 € 40,320 € 28,419 € 40,320 € 28,419 € 40,320 € 28,419
€ 35,000 € 40,000 € 45,000 € 50,000 € 60,000
35.3 40.3 45.4 50.4 60.5
€ 35,000 € 40,000 € 45,000 € 50,000 € 60,000
15.7 17.9 20.1 22.4 26.9

> Record quarter net income for the year
> R&D downward trend
CUMMINS WESTPORT INC.
*2016 adjusted for change in accounting policy related to warranty
Total Revenues 67.5 75.5 12% 70.4 70.7 79.5 75.5
Gross Margin* 22.0 27.9 27% 17.6 21.8 28.6 27.9
GM%* 33% 37% - 25% 31% 36% 37%
R&D 8.1 7.6 6% 8.6 10.8 7.2 7.6
% of sales 12% 10% - 12% 15% 9% 10%
SG&A 6.4 5.3 17% 4.5 5.8 5.0 5.3
% of sales 10% 7% - 6% 8% 6% 7%
Net income* 4.9 11.6 137% 4.1 3.5 10.6 11.6
% of sales* 7% 15% - 6% 5% 13% 15%

> Westport™ HPDI 2.0 orders fulfilled to OEM launch partner
> Continued cost discipline
CORPORATE & TECHNOLOGY SEGMENT
R&D 9.4 9.1 3% 10.6 8.3 10.0 9.1
SG&A 9.5 6.5 32% 5.8 6.5 7.9 6.5
Total $18.9 $15.6 17% $16.4 $14.8 $17.9 $15.6

Q3 CASH WALK
*Note: Gross proceeds were $28.7M
• Cash used in
operations
• Working
capital
• Exit costs
• Transaction
costs
• Debenture
paid off
Beginning
balance
Operations Dividends Restructuring CapEx Capital
raise
Reduced
debt
Ending
balance
$87.7 ($7.2) $5.3 ($9.9)
($3.8)
$26.0*
$51.1
($47.0)
($inmillions)

> Executed January 11, 2016 and amended March 6, 2016
> Three main tranches of investment in Westport by Cartesian:
1) Payment to Westport of $17.5 million in exchange for certain contingent payment rights
2) Purchase of an economic interest in the Weichai Westport Inc. joint venture
3) Purchase of a $17.5 million Westport unsecured convertible note with an annual interest rate of 9%, convertible at
$2.17 per share and maturing on June 1, 2021
CARTESIAN OVERVIEW
Investment Agreement & General Security Interests

Corporate Overview

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