Cenovus's Diversified & Resilient Business Model

COMMODITY PRICE ASSUMPTIONS 2024 budget US$/bbl unless otherwise stated 2024F Brent $79.00 WTI $75.00 WTI-WCS differential $17.00 WCS $58.00 Chicago 3-2-1 crack spread $21.00 RINS $4.50 $2.80 AECO (C$/Mcf) FX (US$/C$) Note: See Advisory. cenovus ENERGY 0.73 74 14

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