Investor Update November 2023

GHG EMISSIONS MANAGEMENT Significant progress reducing emissions. enerPLUS ■ Enerplus expects to exceed previous 2030 targets in 2023; revised 2030 targets to reflect better than anticipated performance Scope 1 Emissions Intensity Reduction kg CO₂e / BOE Scope 1 & 2 Emissions Intensity Reduction kg CO₂e / BOE Methane Emissions Intensity Reduction kg CH₁ / BOE 29.4 2023E PERFORMANCE ■ -40% from 2021 -40% ■ -55% from 2019 -17.0 -60% from 2023 7.0 33.1 2023E PERFORMANCE 2023E PERFORMANCE 0.068 ■ -40% from 2021 ■ -45% from 2021 -40% -45% ■ -55% from 2019 ■ -65% from 2019 ----- -19.5 -30% from 2023 -0.036 13.0 2021 2023E 2030 2021 2023E Target 2030 Revised Target 2021 2023E -45% from 2023 0.02 2030 Revised Target 12

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