Investor Presentaiton

Ovintiv™ Highest Cash Flow & FCF in Over a Decade Increasing Shareholder Returns Returning 50% of Post-Base Dividend FCF Today Delivering Strong 2Q22 Results Maintaining Operational Excellence Across All Assets Reconfirming FY22 Capex Guidance Achieving Results Through Innovation & Efficiencies • • • ~$400 MM of shareholder returns in 3Q22¹ Cash Return Yield doubled to 13% in 3Q22¹ ⚫ $1,224 MM Cash Flow & $713 MM Free Cash FlowT 175 Mbbls/d oil & condensate, at high end of guidance 500 MBOE/d total production, at high end of guidance $511 MM capex, below low-end of guide $1,286 MM Adjusted EBITDA $1.7 - $1.8B FY22 capex guidance • Maintaining industry-leading capital efficiency Using innovation to navigate volatile market conditions + Non-GAAP measures defined in advisories. For additional information regarding non-GAAP measures see the Company's website. 1) Base dividends and share buybacks. Applicable market data as of July 26, 2022. 2

View entire presentation