Corporate Overview Executing the Plan October 2012
Husky Snapshot Amongst largest Canadian integrated energy companies Balanced growth and dividend proposition Strong balance sheet positioned to commercialize a rich portfolio of growth opportunities Production 70% oil bias…
Strategic Building Blocks Near-term Mid-term Long-term 2010 2012 2013 2015 2016+ Upstream Acquisitions Asia Pacific Oil Sands Oil Sands Atlantic Region Transforming Western Canada and Heavy Oil foundation Value acceleration…
Deliverables Plan period targets to 2016: Production growth 3-5% CAGR Focus on improving netbacks Reserve replacement 140% Increase ROCE by 5 percentage points Maintain oil production bias at 70% of total production 4.1 billion…
Transforming Western Canada Transform from mature conventional plays to growth oriented oil and liquids-rich gas resource plays Resource plays Reinforce key technical and execution skills Exploit plays on existing land base…
Resource Plays Resource Primary Product Net Current Planned 2012 Play Formation Acreage Production Activity (Acres) Drill up to 50 wells Ansell Multi-zone Liquids-rich gas 160,000 10,000 boe/day Advance infrastructure expansion…
Transforming Heavy Oil Thermal and horizontal techniques are Thermal Property Size Anticipated Timeline renewing the play for the long term Bolney / Celtic & 19,000 bbls/day Producing Recovery, capital costs and operating Pikes…
Strategic Integration Removes Volatility Focused integration reduces volatility in Heavy Oil and Oil Sands Capture product and location differentials Downstream improves upstream operating flexibility Options to access…
Asia Pacific Growth Strategy Building a material oil and gas business Liwan 3-1 and Liuhua 34-2 developments expected to be on stream in 2013/14 Madura Strait and Liuhua 29-1 gas field expected to be on stream in 2014/15 Strong…
Asia Pacific Growth - Liwan Gas Project Progress Topsides fabrication is proceeding on schedule Project substantially progressed Engineering complete Wells drilled and reservoir proven Installation progressing as planned and within…
Indonesian Projects Progress Estimated BD Field 2014 initial gross production 100 mmcf/d (40 mmcf/d net) 6,000 bbls/d NGLs (2,400 bbls/d net) Gas price average approximately US5.50/mmbtu MDA and MBH field developments in tandem…
Oil Sands Growth Strategy Successfully execute Sunrise Phase 1 Top-tier project utilizing established in-situ technologies 50/50 partnership with BP Integrated with infrastructure and refining assets Prudent approach to…
Sunrise Phase 1 Progress Drilling rig in operation Project substantially advanced Drilling complete with sub-surface and well placements confirmed Field Facilities 50% complete Central Processing Facility 30% complete Permanent…
Carbonates at Saleski 975 sq. km carbonate position; west of Fort McMurray Contingent resource at Saleski: 9.96 billion bbls1 Target pilot bitumen production in 2016 timeframe (1) Husky working interest 100%; effective…
Atlantic Region Growth Strong track record and position in Atlantic Canada Realize value from existing discoveries White Rose Extension Engineering study completed by year-end Continue evaluating under-explored basins Jeanne…
White Rose Extension Project Test and evaluate West White Rose pilot Pilot production began in Q3 2011 Good initial results Well head / drilling platform preliminary engineering underway Improved drilling efficiency Expected…
Commercializing the Strategy Commercial Producing Development Delineate/De-Risk Prospect Inventory Western Canada Conventional Oil & Gas Duvernay Horn River Ansell Cardium Rainbow Muskwa Viking Montney Slater River Canol Oungre…
Executing the Plan Strategy is clear Executing against the strategy Targets are being achieved Balanced growth with strong dividend yield (4% - 5% yield) Building on established momentum 18
Advisories Disclosure of Oil and Gas Reserves and Other Oil and Gas Information Unless otherwise stated, reserve and resource estimates in this presentation have an effective date of December 31, 2011. Unl ess otherwise noted,…
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