Investor Presentaiton

Canadian downstream market environment Advantaged markets; Imperial well-positioned KC YEARS 1880-2020 Market environment ■Large geography, dispersed demands Imports have limited reach Structural short in Ontario Western Canadian crudes provide cost advantage Net export market favours domestic sales Imperial position Access to cost-advantaged logistics Improved product margin as market trades at import parity Favourable supply/demand balance in core, growing market Access to 100% Canadian crude ■ Product sales exceed production; long-term customer base Imperial | 2020 48

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