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Investor Presentaiton

ENCANA A PREMIER NORTH AMERICAN RESOURCE COMPANY Newfield Acquisition Aligned With Strategy . Top tier resource, multi-basin optionality • 。 Core-of-the-core positions in 3 of North America's top basins Operational excellence o Leading operator in stacked pay development 。 Anadarko primed for Cube Development TOP TIER RESOURCE • Market fundamentals o Track record of risk mitigation and margin enhancement o Anadarko ideally located near Cushing, OK (WTI) . Capital allocation 。 Disciplined capital allocation to core assets 。 Multi-basin portfolio provides optionality to mitigate regional risks Maximize value of non-core assets Balance sheet strength . О Further strengthens balance sheet and reduces cost of capital MARKET FUNDAMENTALS B Balance sheet strength ร CAPITAL ALLOCATION OPERATIONAL EXCELLENCE 5 encana
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