(1) Forecasted 2023 Net Operating Income is calculated as Revenue less Royalties less Operating Costs using January to June actuals and Athabasca management estimates for July to December using July 25, 2023 strip commodity prices. (2) Forecasted 2023 production is based on January to June actuals and Athabasca management estimates for July to December. (3) Year-end 2022 Total Proved Reserves of 23.1 mmboe. (4) Pricing Assumptions: 2023 realized prices in H1 and flat pricing of US$80 WTI, US$15 Western Canadian Select "WCS" heavy differential, C$3 AECO, and $0.75 C$/US$ FX for H2. 2024+ flat pricing of US$85 WTI, US$12.50 WCS heavy differential, C$5 AECO, and $0.75 C$/US$ FX. (5) Net Debt/(Cash) is defined as the face value of term debt, plus accounts payable and accrued liabilities, plus current portion of provisions and other liabilities less current assets, and excluding risk management contracts.