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Investor Presentaiton

Return of Capital Track Record Summary (C$ MM) $1,350 $1,200 $1,050 $900 $750 $600 $450 $300 $150 $55 $9 $0 2017A 2018A PAREX RESOURCES INC. Levers $300 2019A Share Buyback $230 $334 ~$430 >$1,350 2020A 2021A 2022F (3) Total Dividend • Active normal course issuer bid (NCIB) program Over past three years have purchased full 10% allowable pursuant to NCIBS In 2022, committed to full 10% share buyback for the fourth year in a row Since 2017, have returned over C$1B to shareholders through share repurchases (1) Quarterly regular dividend • Initiated regular dividend in Q3 2021 Approved 12% increase in February 2022 and subsequent 50% increase in May 2022 No debt and US$287MM (2) of working capital provides optionality to further enhance shareholder returns Management track record of consistent and prudent return of capital measures (1) From 2017 to Apr. 29, 2022. (2) As at Mar. 31, 2021; capital management measure; see advisory. (3) PXT share price assumption of C$28 per share; USD/CAD assumption: 0.80; based on paid Q1 2021 dividend and C$0.25 per share quarterly dividend for the remainder of the year. 7
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