Investor Presentaiton
8
Cash operating costs
Significant cost efficiencies achieved and maintained
Annual cash operating costs¹
$B
6
4
2019
Efficiencies
Volume growth
Energy price
2021
1 Non-GAAP financial measure - see supplemental information for definition and reconciliation
■ Sustainable cost reductions across all business lines
> Over $1B in cost efficiencies
Progressing additional cost reduction opportunities
▷ Continued focus on energy efficiency
■ Cost-effective volume growth
Lower corporate break-even² outlook
> $US 25/bbl WTI cash break-even
> $US 35/bbl WTI covers dividend and sustaining capital³
2 Estimated average WTI crude oil price in US dollars required for cash flow from operating activities to equal total operating costs over 5 year period 2022-2026. Based on March 2022 Investor Day business
environment ($US 40 WTI, $US 10 WCS differential, Downstream and Chemical margins normalized over time, $US 0.8 exchange rate)
3 Sustaining capital represents anticipated spending to maintain productive capacity of existing assets
Imperial | 2022 | 63View entire presentation