Investor Presentaiton

Kearl boiler flue gas emissions reduction technology Successful first deployment, expanding to five additional boilers ■ Innovative technology recovers waste heat from the boiler's exhaust to pre-heat process water ■ Successful startup of first unit May 2021 with additional five units by end of 2023 ■ Robust economics with significant GHG benefit Reduce up to 220,000 tonnes per year of carbon dioxide equivalent ~$40M/yr full program cost savings ■ Collaboration with Alberta government Boiler Feed Water Steam Cold Warm Process Process Water Water H-IC Condenser/ Exchanger Secondary Stack Condensed Water for use in process Imperial |2022 34

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