Enerplus Core Drilling and Production Overview

Net drilling locations Deep drilling inventory supports sustainable outlook enerPLUS 1,000 900 800 700 250 600 670 110 500 FUTURE DRILLING LOCATIONS 400 IN CORE/ EXTENDED CORE (1) 300 200 100 45 2022 Onstreams (2) 560 North Dakota Inventory Inventory upsides ■Lower return locations that offer upside through stimulation advances, well cost improvements, sustained high oil prices Extended Core Periphery of established core ■Lower returns than Core, but exceeds returns threshold at midcycle prices ■ Primarily southern Dunn >Decade of Core drilling inventory (at development pace assumed in 5-year plan) Core ■ Established economic core of play ■ Well defined & de-risked ■ FBIR, northern Dunn, eastern Williams Additional drilling inventory in the Extended Core + Upside locations 1) See "Advisories - Drilling Inventory" for a reconciliation of undrilled locations between those associated with reserves and those not associated with any reserves. As at 1 Jan 2022. Includes operated and non-operated locations. 2) 2022 onstreams includes operated and non-operated wells. 13

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