Investor Presentaiton

Corporate WTI breakeven Resilience at low prices Estimated WTI breakevens 16 K YEARS 1880-2020 Cash flow from operating activities breakeven $US 27/bbl Cash flow from operating activities and sustaining capital breakeven $US 33/bbl Cash flow from operating activities, sustaining capital and current dividend breakeven $US 36/bbl 10 20 30 40 40 $US/bbl 2021-2025 period average, $US 10 WCS differential, $US 0.75 FX rate, downstream margin normalization over time Imperial 2020 67

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