Investor Presentaiton

Continued Margin Expansion ~90% Of Higher Prices Preserved in Margin OVV Realizable Margin ($/BOE) $63 Ovintiv™ $52 $17 2Q22 unhedged $46 $15 $40 $15 Unhedged $33 $34 BOE Price $13 Total Costs T $/BOET $13 $13 Margin Expansion Multi-basin Price Advantage realized oil & condensate price (% WTI) 2Q22 unhedged realized natural gas price (% NYMEX) 99% Canada: 100% 95% Canada: 94% ~135% of AECO $47 $36 $31 $27 Realizable Margin¹ $20 $21 61% 62% 67% 68% 70% 74% Realizable Percent of Unhedged BOE Price 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 + Non-GAAP measures defined in advisories. For additional information regarding non-GAAP measures see the Company's website. 1) Realizable Margin represents unhedged BOE price less Total Costs. Realizable Margin plus Total Costs may not sum to Unhedged BOE price due to independent rounding.. 8

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