Investor Presentaiton

Canadian margin environment Structurally advantaged margins, resilient through the pandemic Average monthly gasoline crack $US/bbl 80 Avg. Canadian gasoline crack Avg. US gasoline crack Average monthly diesel crack $US/bbl 80 Avg. Canadian diesel crack Avg. US diesel crack 40 40 40 40 Imperial | 2022 | 46 0 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 50/50 NYH/Chicago and 50/50 Toronto/Edmonton rack vs. MSW feedstock cost; Assumes $5/bbl crude tariff to Chicago, NYH & Toronto

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