Investor Presentaiton

Q1 Update Wood Buffalo Regional Fire • • • • More than 88,000 residents evacuated, 1,500 residential and commercial structures destroyed, and hundreds more damaged Evacuation lasted May 3 to June 1st, but many services did not return until later in the month - Insurable losses estimated by the IBC (1) to be $3.6B, exceeding both the 2013 AB Floods and 1998 Ontario/Quebec ice storm Estimated 0.6% net impact on GDP in 2016 2016-17 forecast includes a net $500M fiscal impact of the wildfire - Disaster Recovery Program expense of $647M, partially offset by federal assistance of $452M - $300M in lower non-renewable resource, corporate and personal income tax revenues Likely at least 40M barrels of oil sands production deferred over 2 months (1) Insurance Bureau of Canada Alberta 15

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