Cenovus's Diversified & Resilient Business Model

CONTINUOUSLY IMPROVING OUR COMPETITIVE COST STRUCTURE Low-cost execution and operating model Subsurface operating improvements • Value-driven technology implementation. • Production and SOR improvements. • Non-condensable gas (NCG) injection. Enhanced well completions designs. Value-driven optimization and execution . • Enhanced drilling and completions technology. Increased well lengths and well spacing. Reduction in surface pads and footprint. Zero-based module design. cenovus ENERGY Sunrise legacy design Sunrise new design Optimizing Sunrise pad design 32 32

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