Investor Presentaiton

2018 HIGHLIGHTS Encana Free Cash Flow* Positive in 2018 ● . Met or exceeded all guidance measures Delivered free cash flow in 2018 • $250 million share buyback executed in 2018 . • High-value liquids growth from Permian and Montney • Strong realized pricing via midstream arrangements • • Continued portfolio management - San Juan disposition closed December 2018 Strong balance sheet with leverage approaching mid-cycle target of -1.5x F Non-GAAP measures defined in advisories. For additional information regarding non-GAAP measures see the Company's website 12 encana

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