Investor Presentaiton

Corporate WTI breakeven Resilience at low prices Estimated WTI breakevens 16 YEARS 1880-2020 Cash flow from operating activities breakeven $US 27/bbl Cash flow from operating activities and sustaining capital breakeven $US 33/bbl Cash flow from operating activities, sustaining capital and current dividend breakeven $US 36/bbl 0 10 10 20 30 40 $US/bbl 2021-2025 period average, $US 10 WCS differential, $US 0.75 FX rate, downstream margin normalization over time Imperial | 2020 67

View entire presentation