Cenovus's Diversified & Resilient Business Model
40%
100%
BENCHMARKING CANADA'S GLOBAL COMPETITIVENESS
Canada falling short on global CCUS incentives
Global CCUS projects - percent public funding¹
90%
New development
~two-thirds coverage
80%
70%
Canadian
precedent
60%
+EOR
<25% costs for pre-2030
50%
projects
30%
20%
10%
0%
Sask Gov't/Boundary
cenovus
ENERGY
Norway/Langskip
U.S./AP SMR
U.S. IRA @$85/T
Canada/Quest
Canada/ACTL (EOR)
U.S. 45Q @$50/T
Canada ITC (Pre-2030)
Note: See Advisory. 1) BMO Capital Markets The Great Canadian CCUS Dilemma January 2023. Cost coverage estimates for U.S. IRA and Canada ITC based on 25-year project life.
U.S./Petra Nova
% Total Costs Funded
I Canada Federal ITC
AB Incentive (ACCIP)
ITC <15% Net zero
project costs
Canada ITC (NZ 2050)
Australia/Moomba
51
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