Investor Update November 2023

WTI oil price ($/bbl) $60 $50 $40 $30 $20 $10 $0 40 Core Bakken is competitive with the best N.A. oil plays Third-party data: Breakeven WTI oil prices across North American oil plays (1)(2) Source: Enverus Intelligence Research Little Knife & FBIR represent the majority of Enerplus' Bakken drilling inventory 1) Breakeven prices represent the average WTI price at which wells generate a 10% IRR. Based on wells since 2018. 2) Based on oil plays developed with horizontal wells. UINTA VIKING CARDIUM DUVERNAY 15 enerPLUS

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