Enerplus Q1 2023 Update

enerPLUS Enerplus: tier 1 acreage position in the Bakken core Acreage largely in core & extended core Productivity: 6 month BOE/1K foot lateral Substantial sub-$50/bbl WTI inventory Contours based on breakeven WTI prices (10% IRR) Significant acreage in the established economic core of the play ■ Large remaining opportunity set with more than a decade of high-returning drilling inventory ■ Potential to extend economic inventory through technology advances, well cost improvements and sustained high oil prices ப Williams 0 Little McKenzie Knife Low High Outlines are Enerplus operated units 1) Source: Productivity mapping from Tudor, Pickering, Holt & Co. WTI breakeven analysis based on internal research. FBIR Dunn Mountre $60 $50 $40 Murphy Creek Enerplus operated acreage Enerplus non-op acreage 15

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