Investor Presentaiton

Cold Lake carbon capture and storage (CCS) opportunity Efficient emissions reduction, supporting Cold Lake strategy transformation Pursuing CCS emissions reduction opportunity that captures efficiencies with Cold Lake operations Evaluating capture of CO2 from combination of produced gas and flue gas streams ■ Nearby injection into Basal Cambrian Targeting startup in mid to late 2020's ■ Potential to be one of the first CCS projects within Pathways initiative Mahihkan Plant at Cold Lake Production Steam and diluent CO₂ CO₂ CO₂ Glacial Till Colorado Shales Grand Rapids Clearwater Separations L Produced gas Recycled water Heated oil and water are pumped to the surface McMurray Devonian Cambrian Produced bitumen Pipeline to market Capture CO₂ and permanently store in Basal Cambrian Imperial |2022 | 39

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