Investor Presentaiton

Mt CO2e Measuring results Manitoba's Target: 1,000,000 tonnes 23.0 22.5 22.0 21.5 21.0 20.5 2017 emissions 20.0 19.5 19.0 2015 2016 2017 Jan 1, 2018 2018 2019 2020 Dec 31, 2022 ■■■Navius 2019 gTech Reference Case 1 Mt ■■■ECCC 2018 Additional Measures Reference Case 1 Mt CSA Pathway 2021 2022 Data Source: 2018 Additional Measures Reference Case & Navius Research Inc. Forecast & Navius Research Inc. Modelling and Analysis 2019.

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