Investor Update November 2023

■ enerPLUS Enerplus: tier 1 acreage position in the Bakken core Contours based on breakeven WTI prices (10% IRR)(1) Significant acreage in the established economic core of the play ■ Large remaining opportunity set with more than a decade of high-returning drilling inventory ■ Potential to extend economic inventory through technology advances, well cost improvements and sustained high oil prices 1) WTI breakeven analysis based on internal analysis. $60 $50 $40 Enerplus operated acreage Enerplus non-op acreage 17

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