Five-Year Outlook 2024-2028

CANADA HEAVY OIL: LAND EXTENSIONS Leveraging heavy oil expertise and recent exploration success Peavine (Clearwater) Partnership with the Peavine Métis Settlement New 10-section agreement brings total land position to 90 sections prospective for Clearwater development Lloydminster (Mannville) Farm-in agreement on 17.75 sections of land near Cold Lake Increases lands prospective for Mannville development in northeast Alberta to ~ 100 sections T80 T79 T78 T65 R17 R16 R15 R14 R13W5 T77 R17 R16 R15 T79 T78 T64 R5 R4 R3 R2 R1W4 T65 T64 T63 T63 T62 T62 T61 T60 T77 R14 R13W5 Baytex legacy lands 2023 land agreements T59 R5 R4 R3 R2 R1W4 BAYTEX ENERGY NYSE/TSX BTE T61 T60 T59 21

View entire presentation