2022 Investor Day Presentation

VIRTUAL POWER PURCHASE AGREEMENTS (vPPA) · • Progressing power decarbonization for internal & external customers Powering the Keystone Pipeline System with renewable energy could abate ~1.5 million tonnes of CO₂e annually Evaluating, negotiating and executing VPPAs and equity participation Leveraging internal customer demand to offer renewable power solutions to external customers 2021 Issued RFIs for wind, solar and battery storage capabilities in U.S. 2021-2022 Evaluated U.S. proposals, commenced negotiations, signing LOIs and finalizing contracts Key developments in 2022: • Secured ~825 MW of wind and solar generation; advancing incremental opportunities in the U.S. and Canada • 2 GW+ of third-party offtake originated • Issued RFP for opportunities for Canadian portion of Keystone Pipeline System 2022 Issued RFP for Canadian decarbonized power and incremental U.S. opportunities 2022-2023 Evaluating Canadian proposals, commencing negotiations, signing LOIs and finalizing contracts 84

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