DECEMBER 2021 C O R P O R AT E P R E S E N TAT I O N
WHY MEG ENERGY Pure play in-situ Committed to Proven track record Focused on Exposure to strong operator with low- debt reduction of GHG maximizing free benchmark oil decline, high…
H I G H Q U A L I T Y A S S E T W I T H S T R AT E G I C MARKET ACCESS MEGs best-in-class in-situ asset strategically connected to contracted logistics infrastructure which improves bitumen realizations and manages risk Christina…
2022 OUTLOOK AND GUIDANCE Internally funded capital plan that allows full utilization of central processing facility and contributes to sustainability in 2023+ 2 0 2 2 C A P I TA L B U D G E T - 3 7 5 m m 2022 production guidance of…
F R E E C A S H F L O W A L L O C AT I O N S T R AT E G Y Focus remains on debt reduction while improving shareholder returns via return of capital Upon reaching US1.7bn near-term net debt target, shareholder return initiative to…
2 0 2 2 F C A S H F L O W G E N E R AT I O N P O T E N T I A L Significant free cash flow generation capability (Cmm) 2,000 1,500 1,000 Free Cash Flow Free Cash Flow Free Cash Flow 500 Capex Capex Capex 0…
COMMITTED TO BALANCE SHEET STRENGTH Financial flexibility is a MEG hallmark: C A P I TA L M A R K E T S M AT U R I T Y S T R U C T U R E balance sheet has a unique combination Capital Markets Debt Maturities USmm of covenant…
MEGS COMMITMENT TO ESG MEGs purpose is to supply the world with environmentally and socially responsible energy while generating long term value for all of our stakeholders Business Model Resilience Governance Our Board has direct…
PAT H WAY S T O N E T Z E R O I N I T I AT I V E The Pathways initiative is aimed at helping achieve 2050 net zero emissions aspirations The Oil Sands Pathway to Net Zero Initiative is an alliance between Canadas six largest oil sands…
C A N A D A S E S G R A N K I N G Canadian oil companies earn a stronger ESG score than all other oil-rich countries, due to stringent environmental regulation, strong governance and commitment to safety and community TOP OIL RESERVE…
M E G S G H G P E R F O R M A N C E A N D TA R G E T S LEADER IN LOWERING GHG INTENSITY MEG TARGETS Technological innovation, such as eMSAGP and Near Term Targets: cogeneration, have driven MEGs bitumen GHG Further deployment of…
I N - S I T U R E L AT I V E T O T I G H T O I L Comprehensive environmental management compares favourably to North American production Water Methane Land MEGs Non-Saline1 Water Use MEGs methane emissions intensity is Cumulative…
APPENDIX 13
CASH FLOW SENSITIVITY Unhedged blend volumes result in significant torque to change in oil prices I L L U S T R AT I V E F U N D S F L O W S E N S I T I V I T I E S 1 Sensitivity Variable Impact to Funds Flow Range WTI (US/bbl) +/-…
BLEND SALES BY MARKET Strong demand pull to US Gulf Coast drives narrow differential and improved transportation adjusted pricing relative to Edmonton Q3 2021 RESULTS Edmonton U.S. Gulf Coast3 TOTAL TOTAL (US/bbl) (US/bbl) (US/bbl)…
M AT E R I A L U N R E C O G N I Z E D VA L U E F R O M TA X P O O L S 5.9 billion of tax pools immediately deductible COMPOSITION OF TAX POOLS (Cbn) AMOUNT OF ILLUSTRATIVE VALUE OF POOLS UTILIZED TAX POOLS AT 8.0% Non-Capital Losses…
DISCLAIMER This presentation is not, and under no circumstances is to be construed to be a prospectus, offering memorandum, advertisement or public offering of any securities of MEG Energy Corp. (MEG). Neither the United States Securities…
DISCLOSURE ADVISORIES Non-GAAP Measures This presentation refers to the non-GAAP measure of free cash flow, as well as adjusted funds flow and net debt which are defined in Note 19 of the Q3 2021 Financial Statements. These terms may not…
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