Enerplus Core Drilling and Production Overview

enerPLUS Strong liquidity and low financial leverage Significant liquidity Liquidity position at June 30, 2022 ($ millions) Enerplus was the first North American E&P to transition its principal credit facility to a Sustainability ESG Linked Credit Facility, incorporating ESG performance targets $980 Track record of low financial leverage Net debt to adjusted funds flow ratio 3x Net debt as at June 30, 2022: $546 million Π 5-year track record of operating at or below 1x ND/AFF ratio annually Liquidity Cash + Undrawn Credit Facilities Revolving Credit Facilities Avg. interest rate: 3.85% (1) 2x 1.0x 0.9x 1x 0.6x 0.6x 0.5x 0.4x SENIOR NOTES $226 Avg. interest rate: 4.2% $121 $21 $21 $21 $81 $81 Ox 2022 2023 2024 2025 2026 2017 2018 2019 2020 2021 1H 2022 Senior Notes Revolving Credit Facilities Undrawn Credit Facilities + Cash 1) Drawn fees are expected to be approximately 3.85% based on an underlying 3-month LIBOR rate of 2.35%.. Drawn amount is net of unamortized debt issuance costs of $1.5MM. 17

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