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May 2022 Investor Presentation – Advantage Energy Ltd.

Advantage Energy Ltd. · May 1, 2022 · 33 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 1
    A Progressive Montney Producer for the New Energy Market TSX: AAV 52-week trading 3.13 to 11.34 Investor Presentation Shares Outstanding (basic) 190 million May 2022 Market Cap / EV ( billions) 2.0 / 2.2
  2. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 2
    Corporate Strategy Surge in Profitability Creating Generational Opportunity Free Cash Flow (1) Maintain Strong Beyond Expectations Enhance Resilience Foundations Plus Moderate and Scale Growth Grow production Net-zero by 2025…
  3. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 3
    Corporate Strategy Strength Across the Board Financial Stability Evolving Competitively Entropy Inc. - Unprecedented profitability Modular Carbon Capture and Storage Debt reduction ahead of expectations Advancing liquids development…
  4. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 4
    2022 Capital Investment Thesis Generates Significant Revenue Growth (2) Glacier focused program 75 million (9 wells), maintenance Capital Efficiency (1) capital, corporate costs 10,000/boe/d Sustaining 24% corporate decline rate (1)…
  5. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 5
    2022 Capital Program: Profit Margins at Generational Highs(2) 400 Deleveraging 350 US4.00/mcf Acquisitions Share buybacks 300 US3.50/mcf 250 US3.00/mcf ( million) 200 US2.59/mcf 30 150 US2.36/mcf 80 100 50…
  6. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 6
    World Class Assets, Operational Excellence, Environmental Leadership Disciplined Financial Management PROGRESS GLACIER Self funded growth with free cash flow (1) Glacier Carbon Capture & Storage Asset Prolific Gas Foundation Free…
  7. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 7
    Low-Cost Structure: A Key Factor in FCF Generation Capacity (1) Op Exp Royalty Exp G&A Int Exp Trans Exp 30 25 20 /boe 15 10 5 0 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7…
  8. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 8
    Advantage Montney Assets Multizone Oil, Liquids and Gas Throughout Glacier Valhalla Progress Wembley Doig Upper Montney D4 Middle Montney 300m D3 D2 D1 2022 Targets Lower Advantage Operated HZ Montney…
  9. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 9
    Glacier: World-Class Free Cash Flow(1) Engine Area Production Forecast Net Capital Expenditures1 & FCF1 Free Cash 08-05: Onstream Q1/21 Actuals OperatingNetback 1 Flow1,2 Growth Net Capital Expenditures [MM] 1 Base Engine Cumulative…
  10. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 10
    Wembley/Pipestone: Premium Oil-Weighted Asset With Room to Run Area Production Forecast Net Capital Expenditures1 & FCF1 Free Cash Actuals Operating Netback 1 Flow1,2 Growth Rapid Oil-Weighted Net Capital Expenditures [MM] 1 Imminent…
  11. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 11
    Progress/Valhalla: Integrated, Prolific Liquids-Rich Assets Area Production Forecast Net Capital Expenditures1 & FCF1 Actuals Operating Netback 1 Self-Sustaining Growth Net Capital Expenditures [MM] 1 Base Cumulative Free Cash Flow…
  12. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 12
    Compelling Economics Across Multiple Assets IRR1,4 Payout1,4 NPV101,4 Type Curve (%) (months) (MM) AAV Tier 1 Half Cycle Production Type Curves3 Glacier D1 Gas 335% 6 13.9 Glacier Upper Gas 211% 8 11.7 Glacier D1 - 6 month payout…
  13. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 13
    Payout(1) Ranging Between 3 and 12 Months Since 2020 2020-2022 AAV Well Payout (1) Performance 2022 Half Cycle & Project Economics by Area (2) 16 Glacier 2x Payout in 11-14 months 15 Months Onstream Progress 14 1x Payout Valhalla 13…
  14. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 14
    Advantage Montney Wells Dominate Alberta 2021 Results Calendar-Day Natural Gas Rate (Mcf/d) Natural Gas Rate Per 100 m (Mcf/d Per 100 m) 14,000 700 IP30 Natural Gas Rate (Mcf/d) 12,000 IP90 Natural Gas Rate (Mcf/d) 600 Gas Rate Per…
  15. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 15
    Strategic Infrastructure Control, Flexible Pipeline Access 400 mmcf/d + 6,800 bbl/d capacity Glacier Gas Plant BC AB TCPL Groundbirch Lateral 45 mmcf/d + 2,000 bbl/d Valhalla hub 35 mmcf/d + 5,000 bbl/d Wembley hub dual connected via…
  16. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 16
    Natural Gas Transportation Portfolio 27 mmcf/d of Prairies Mainline to Nov 2032, currently underpinning Great Lakes service Empress Total Empress capacity of 130 180 mmcf/d between 2022 & 2025 75 100 mmcf/d is open exposure to…
  17. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 17
    Market Diversification and Hedging Activities Revenue Exposure by Markets Q1/22 Q2/22 Q3/22 Q4/22 2023 2024-2025 AECO 52% 38% 32% 32% 30% 32% Empress 9% 28% 32% 30% 30% 29% - 32% Emerson 0% 0% 0% 6% 8% 8% Dawn 28% 25% 26% 19% 16%…
  18. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 18
    Celebrating 20 Years of Sustainability NET ZERO in 2025(1) Industry Leading Low Emissions Low Fresh Water Usage Emissions Intensity tCO2e/boe (Scope 1 and 2) Fresh Water Intensity m3/boe 0.017 0.005 Peer Peer Peer AAV Peer Peer…
  19. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 19
    Brookfield + Entropy Strategic Investment Transition Strategy 300 Million 21,000 MW Renewable Power Portfolio Expanded global reach Strategic Entropy Funded for Scale Accelerated decarbonization Investment 300 million to fund…
  20. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 20
    Entropy: Commercial Carbon Capture And Storage, Today Clean Tech Pure Play Technology Dedicated, full-service Exclusive ownership of world- industrial CCS company leading solvent Proprietary, innovative Innovative process…
  21. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 21
    Entropy Process Entropy Is Carbon Negative, Full Scope Entropy processes emit only 1 T CO2 with 90% carbon Entropy Parasitic Load capture efficiency Got smoke Emissions Created by CCS Entropy captures 90% of both industrial…
  22. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 22
    Entropys New Generation Of Carbon Capture Solvents Traditional amines, such as monoethanolamine (MEA), can absorb CO2 but have significant heat and volume input requirements that make projects uneconomic at prevailing carbon prices…
  23. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 23
    CETRI Background: 2 GJ/Tonne Achieved In Two Pilots Entropy Technology Built on Unique Experience At the U of R Boundary Dam Pilot Plant, CETRI achieved a heat duty of 2 GJ/tonne of CO2 on gas turbine exhaust. This compares to 3.5 to…
  24. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 24
    RES Using Deep Aquifers The Local Solution Is Often Best Emitters Much of North America has suitable deep saline Tonnes CO2/year (000s) geological storage potential for…
  25. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 25
    (2) (1) (1) (5) (1) (4) (1) (3) (2) (1) (1) (1) (4) (1) (3) (2) (1) Glacier Combined Phases (1) Tonnes CO2e/Year 200,000 (1) (4) Net Capital Expenditures(1) 81 MM Annual Net Operating Income(1) (1)…
  26. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 26
    Advantage Contact Information Investor Relations 1.866.393.0393 iradvantageog.com www.advantageog.com Listed on TSX: AAV Advantage Energy Ltd. Suite 2200, 440 2nd Avenue SW Calgary, Alberta T2P 5E9 Main: 403.718.8000…
  27. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 27
    Financial Discipline Operationally Nimble Focus on Profitability APPENDIX
  28. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 28
    Area Overview Deep Inventory of Gas, NGLs and Oil PROGRESS Deep Inventory (1)(2)(3) GLACIER Booked Undeveloped Unbooked Upside TOTAL future location VALHALLA inventory 1,400 to 1,500 650 WEMBLEY 143 318 166 119 228…
  29. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 29
    Track Record of Enhancing Efficiency and Performance Pacesetter Drill Rates per Day 12,000 Relentless Drilling, Completion, & Tie-In Cost Efficiency 700 Relentless Drilling, Completion, & Tie-In Cost Efficiency 600 10,000 Meters/Day…
  30. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 30
    Advisory Non-GAAP Financial Measures Adjusted Funds Flow The Corporation considers adjusted funds flow to be a useful measure of Advantages ability to generate cash from the production of natural gas and liquids, which may be used to…
  31. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 31
    Advisory Non-GAAP Ratios Adjusted Funds Flow per Share Adjusted funds flow per share is derived by dividing adjusted funds flow by the basic weighted average shares outstanding of the Corporation. Management believes that adjusted…
  32. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 32
    Advisory Supplementary Financial Measures Break even carbon price Break even carbon price denotes the carbon price of a project that is equal to the net present value of capital spending and operating costs divided by the total CO2…
  33. May 2022 Investor Presentation – Advantage Energy Ltd. – slide 33
    Advisory Oil and Gas Information Barrels of oil equivalent (boe) and thousand cubic feet of natural gas equivalent (mcfe) may be misleading, particularly if used in isolation. Boe and mcfe conversion ratios have been calculated using…

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