Leading Cardium Plays with Repeatable Drilling Inventory Across the Stack

History of highly economic returns with years of low-risk inventory and significant owned/operated infrastructure

• The Cardium is one of North America’s most significant Light Oil fields
• Discovered in the 1950’s, technical innovation has supported successful development for over 70 years
• Advanced subsurface characterization with optimized drilling and completion strategies continues to unlock additional asset potential
• Extensive acreage with over 200 net sections prospective for Cardium, Belly River and Mannville formations

OUR WILLESDEN GREEN ASSETS

• A high-grade light oil field with large in-place volumes
• Belly River development since 2024 has proven up new fairways in Crimson and Open Creek
• Extensive operated infrastructure allows for maximum development efficiency in multiple zones and low operating costs
• Significant reserve-based inventory of compelling drilling opportunities across extensive operated land base

OUR PCU#11 ASSETS (NON-OPERATED)

• Unitized Cardium reservoir being infilled with horizontal drilling
• Strong production additions from development programs
• Provides robust free cash flow and returns for reinvestment in operated properties