INVESTOR PRESENTATION - CREATING ENERGY CREATING VALUE
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0.10
CREATING SHAREHOLDER VALUE
Delivering production per share growth while improving
financial leverage
Production (boe/d) per thousand shares
Total debt (1) to EBITDA (1)
4.5x
0.20
0.19
4.0x
0.18
0.17
20% increase from Q4/2022
52% increase from Q4/2020
3.5x
Q4/2023E leverage ratio (2) of 0.9x;
committed to further de-leveraging
3.0x
0.16
2.5x
0.15
2.0x
0.14
1.5x
0.13
1.0x
0.12
0.5x
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Q1 2023
Q2 2023
Q3 2023
Q4 2023E
0.0x
Calculated in accordance with the amended credit facilities agreement which is available on the SEDAR+ website at www.sedarplus.com.
Leverage ratio calculation based on quarter-end total debt and quarterly EBITDA annualized. Q2/2023 adjusted to reflect the timing of the Ranger acquisition.
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Q1 2023
Q2 2023
Q3 2023
Q4 2023E
BAYTEX ENERGY NYSE TSX BTE
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