INVESTOR PRESENTATION - CREATING ENERGY CREATING VALUE
FORWARD LOOKING STATEMENTS ADVISORY (CONT.)
Financial Outlook Advisory
This presentation contains information that may be considered a financial outlook under applicable securities laws about Baytex's potential financial position, including, but not limited
to, estimated EBITDA, exploration and development expenditures, allocation of free cash flow to shareholder returns, total debt to adjusted EBITDA, free cash flow and adjusted
funds flow, and the dividend payable by Baytex, all of which are subject to numerous assumptions, risk factors, limitations and qualifications, including those set forth herein. The
actual results of operations of Baytex will vary from the amounts set forth in this press release and such variations may be material. This information has been provided for illustration
only and with respect to future periods are based on budgets and forecasts that are speculative and are subject to a variety of contingencies and may not be appropriate for other
purposes. Accordingly, these estimates are not to be relied upon as indicative of future results. Except as required by applicable securities laws, Baytex undertakes no obligation to
update such financial outlook. The financial outlook contained in this press release was made as of the date of this press release and was provided for the purpose of providing
further information about Baytex's potential future business operations. Readers are cautioned that the financial outlook contained in this presentation is not condusive and is subject
to change.
Share Buyback Advisory
The future acquisition by Baytex of its shares pursuant to a share buyback program, if any, and the level thereof is uncertain. Any decision to acquire shares of Baytex will be subject
to the discretion of the Baytex Board of Directors and may depend on a variety of factors, including, without limitation, Baytex's business performance, financial condition, financial
requirements, growth plans, expected capital requirements and other conditions existing at such future time induding, without limitation, contractual restrictions, satisfaction of the
solvency tests imposed on Baytex under applicable corporate law and receipt of regulatory approvals. There can be no assurance that Baytex will buyback any shares of Baytex in
the future.
Dividend Advisory
Future dividends, if any, and the level thereof is uncertain. Any decision to pay dividends on the common shares (including the actual amount, the dedaration date, the record date
and the payment date) will be subject to the discretion of the Board of Directors of Baytex and may depend on a variety of factors, including, without limitation, Baytex's business
performance, financial condition, financial requirements, growth plans, expected capital requirements and other conditions existing at such future time induding, without limitation,
contractual restrictions and satisfaction of the solvency tests imposed on Baytex under applicable corporate law.
BAYTEX ENERGY NYSE TSX BTE
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