VERMILION ENERGY INTERNATIONALLY DIVERSIFIED WESTBRICK ACQUISITION FREE CASH FLOW FOCUSED ESG LEADERSHIP CONFERENCE CALL DECEMBER 23, 2024
WESTBRICK ACQUISITION OVERVIEW Vermilion to acquire Westbrick Energy Ltd. for total consideration of 1.075 billion Contiguous land and infrastructure footprint is complementary to Vermilions legacy Deep Basin assets o 1.1 million…
IMPROVED DEEP BASIN DRILLING ECONOMICS Improved operational scale of Vermilion's core Deep Basin asset enables lower costs and improved full-cycle margins Upper Cretaceous o Acquisition lands attract capital within pro forma…
LIQUIDS-RICH NATURAL GAS GROWTH Vermilion has a successful track record of efficiently LIQUIDS-RICH GAS PRODUCTION(1) developing Deep Basin assets 120 Projected o Tripled production from 2010 to 2020, primarily from organic…
GLOBAL GAS PRODUCER 2025e Base Production(1) Natural gas-weighted assets represent 80% of 2025e production(1) o Pro forma natural gas-weighted portfolio is enhanced by liquids production and direct European Gas exposure to global…
PRO FORMA FFO PROFILE 2025e Base FFO(1,2) Pro forma company maintains balanced FFO profile between North America and International North America International 40% International diversification is a key strategic advantage 60% o…
ACQUISITION FUNDING Acquisition funded through Vermilions existing HISTORICAL NET DEBT TO FFO 1.35 billion credit facility 4.0x o In connection with the Acquisition Vermilion entered into a new 250 million term loan maturing May 2028…
SHAREHOLDER RETURNS & OUTLOOK 8 8
2025 PRO FORMA OUTLOOK 2025 Pro Forma Category 2024 Guidance(1) 2025 Guidance(1) Outlook(1) Production (boe/d) 84,000 85,000 84,000 88,000 126,000 133,000 E&D capital expenditures (MM) 600 625 600 625 725 775 Assuming…
SHAREHOLDER RETURNS ANNUAL DIVIDEND PER SHARE VS. SHARE COUNT Absolute amount of near-term shareholder returns 0.80 165 unchanged relative to base business o Plan to return 40% of pro forma EFCF, equivalent to 50% on base…
STRONG FINANCIAL POSITION NET DEBT VS FFO(1) 2,000 126 133 150 mboe/d 125 PRODUCTION (000 BOE/D) 1,500 Annualized 100 2025 FFO(2) MM 1,000 75 50 500 25 0 0 2023 2024e 2025e Net Debt to Trailing FFO* 0.9x 0.8x 1.5x…
ACQUISITION HIGHLIGHTS Refocused portfolio with liquids-rich Canadian gas and high-margin European gas Production(2) Portfolio Premium-priced international commodity exposure remains a key differentiating High-Grading factor, with…
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