Ranger Acquisition Overview and Canada Light Oil Update

U.S. LIGHT OIL: EAGLE FORD Building a Strong Operating Platform Materially Increased Scale in a Premier Basin 92,000 boeld Pro Forma production Bexar QUADALUPE Guadalupe Eagle Ford Pro Forma 267,112 gross acres, 68% average working interest 92,000 boe/d of production (82% liquids), 70% operated Lowered cash cost structure, improved operating netbacks and margins Increased exposure to premium light oil U.S. Gulf Coast pricing Expect to bring 24 operated wells and 8 non-operated wells to sales in H2/2023 San Antonio WILSON Wilson KARNES TROUGH Atascosa KARNES Karnes McMullen Live Oak Bee Austin CALDWELL Caldwell OPERATED GONZALES Bastrop FAYETTE Fayette Lee Gonzales Lavaca LAVACA GOLIAD 0 H 5 10 20 Miles + + DEWITT Goliad DeWitt BAYTEX ENERGY NYSE/TSX BTE VICTORIA Refugio Jackson oria Victoria Calhoun 15

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