Five-Year Outlook 2024-2028

OUR ESG SCORECARD Continual improvement is an important element of our culture. We set short and long-term targets to address our impact on air, water, land, and people OUR TARGETS CO₂ 2022 PROGRESS LOOKING FORWARD ✓ GHG EMISSIONS By 2025, reduce our emissions intensity by 65% (Scope 1 and Scope 2) from our 2018 baseline. Reduced our emissions intensity by 59% compared to our 2018 baseline, achieving 90% of our reduction target. Invested $7 million in our first dedicated GHG mitigation budget. Developed our GHG Emissions Reduction Framework. >> Complete our 2025 reduction target. >> Implement site designs that minimize routine venting in our new development areas (Peavine Clearwater and Duvernay). » Define our emissions reduction pathway and set a 2030 reduction target. LAND STEWARDSHIP Restore our entire 2020 end-of-life well inventory through our "4,500 Wells to Zero by 2040" initiative, returning these sites to their pre-disturbance condition. Completed 379 well abandonments - the most in company history. Spent more than $22 million on abandonment and reclamation activities (including government grant funding). WATER USE Develop a Water Management Framework that prioritizes reducing freshwater use. Utilized non-fresh water sources for 25% of completions water. Started developing our Water Management Framework. >> Continue restoring end-of-life wells to meet our 2040 target. » Invest $100 million in reclamation activities from 2022 to 2026, or approximately $20 million per year. » By 2025, implement our Water Management Framework across all high-risk regions. ENGAGEMENT AND DIVERSITY By 2022, expand our baseline to include multiple dimensions of diversity and enhance our processes to measure employee engagement. O Included self-reporting of gender identity, disability status, and racial/ethnic identity in our employee survey. Exceeded our 30% commitment with 33% of directors being women at our 2023 shareholder meeting. Completed second annual employee survey. >> Continue surveying our employees annually and reporting on the gender diversity of our workforce. BAYTEX ENERGY NYSE TSX BTE 26

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