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Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp

Bonterra Energy Corp · Mar 1, 2025 · 27 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. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 1
    TSX:BNE Our Strong Foundation Accelerates Transformation. March 2025 Corporate Presentation Grounded in Energy.
  2. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 2
    AT A GLANCE Bonterra at a glance Charlie Lake New Core Area: High-quality asset base Light Oil, Natural Gas & NGLs Stable and predictable Cardium light oil focused play with large remaining oil in Development ready Charlie Lake…
  3. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 3
    W HY BONTERRA Bonterra Compelling Value Proposition 2025E EV/DACF of 2.3x1 01 Attractive Valuation 2024 Funds Flow Per Share 3.18 vs. Current share price 3.552 PDP Net Asset Value: 8.85/share3 High-Impact Results 02 Emerging…
  4. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 4
    YEAR IN REVIEW 2024 Recap Reshaped Asset Portfolio is now Complemented by a Structurally Improved, Stronger and more Resilient Balance Sheet Operational and Financial Highlights Execution of Strategic Priorities Achieved record…
  5. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 5
    FREE FUNDS FLOW FOCUS 2025 Guidance Fully-funded 2025 Capital Program Designed to Maximize Free Funds Flow Adjusted Free Funds Flow (AFFO) Operating & Financial1 65 WTI 70 WTI 75 WTI 80 WTI Average Daily Production (BOE per…
  6. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 6
    STRATEGIC PRIORIT IES 2025 Priorities Maximize Free Funds Flow Pursue Growth Maximize Free Deliver Results in Balance Sheet 01 Funds Flow 02 the Charlie Lake 03 Focus 04 Through Acquisitions Targeting Adjusted Free Funds…
  7. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 7
    Financial Discipline
  8. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 8
    REFINANCIN G TRANSACTION Balance Sheet Refinancing 135MM 10.50% Senior Secured 2nd Lien Note Offering Closed January 28, 2025 Strategic Rationale Use of Proceeds Long Term Repay in full amounts owing under the second lien…
  9. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 9
    SUSTAINABILITY FOCUS Stable Production + Modest Growth1 Reduced Capital 2025 capital allocation driven to maximize free funds flow Production and Capital Expenditures (CAPEX) CAPEX (MMC) Annual Production (Mboe/d) Forecast1…
  10. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 10
    SUSTAINABILITY FOCUS Emerging Plays Driving Improved Capital Efficiencies 2025 capital allocation focused on expansion in the Charlie Lake Production Net wells on production CARDIUM CHARLIE LAKE MONTNEY CARDIUM CHARLIE LAKE…
  11. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 11
    FINANCIAL DISCIPLINE Balance Sheet Focused 2025 Focus on Free Funds Flow generation to enhance financial flexibility Debt reduction and Production Growth Bank Debt (MMC) Net Debt (MMC) Production (Mboe/d) 400 Forecast1…
  12. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 12
    FINANCIAL DISCIPLINE Return of Capital Focus on financial flexibility to support a sustainable return of capital model Sustainable return of capital framework key metrics Forecasted leverage targets 300 Shareholder Return Return…
  13. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 13
    Pembina Cardium Base Cash Flow Engine
  14. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 14
    PEMBINA CARDIUM Pembina Cardium Stable cash flow engine Asset highlights Cardium development Obsidian / Inplay Pembina Cardium Transaction (announced February 19, 2025) 2 One of Canadas largest oil plays 92% Transaction Value 2…
  15. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 15
    Charlie Lake High Impact Light Oil Play
  16. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 16
    CHARLIE LAKE Charlie Lake Increasing operational scale Asset highlights Charlie Lake development New Battery Economic and de-risked asset 100% constructed Results expected Three well pad to be Long-term development runway with…
  17. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 17
    Montney Emerging Scalable Resource
  18. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 18
    MONTNEY Montney Encouraging early-stage results Asset highlights Montney development World class asset 100% Top decile light oil play in the Western Operated Canadian Sedimentary Basin Production Large development runway Large…
  19. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 19
    MONTNEY Montney Characteristics Doig Future Upper Robust Reservoir Profile Montney Target D4 D3 Reservoir Characteristics Primary Target Depth 1,925m TVD D3 Porosity: 8% Avg Net Pay 70m Gross (20m 6% porosity) Middle…
  20. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 20
    CORPORATE INVENTORY Play Comparison Summary1 Robust corporate drilling inventory supports growth and sustainability Corporate inventory economic comparison 75 WTI2 Rate of Return (%) Payout (yrs) 110 1.5 102 MTNY CHLK CHLK CRDM…
  21. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 21
    ROBUST RESERVES 2024 Reserves Evaluation Robust Reserves Underpin Shareholder Value and Value Creation Oil BOE NPV BT 10% (1) Reserve Category (Mbbl) (Mboe) (thousands) 80% Total Proved Reserves on Volume Proved Developed…
  22. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 22
    NET ASSET VALUE NAV Highlights Value Proposition Bonterra offers shareholders torque to oil and exposure to a significant low risk drilling inventory YE2024 Net Asset Value Net Asset Value per Share (/sh) US75WTI / 3.00 GJ AECO…
  23. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 23
    ENHANCED TEAM & STRONG GOVERANNCE Management Team / Board of Directors Leadership Team Board of Directors Patrick G. Oliver Steve D. Ewens D. Michael G. Stewart Patrick G. Oliver President & CEO VP, Engineering Director, Chair…
  24. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 24
    Corporate Information & Contacts S T OCK E XCHA NGE LIS T IN G INDEPENDENT RESERVE ENGINEER TSX: Sproule Associates Limited BNE LEGAL COUNSEL CALGARY (HEAD OFFICE ) Borden Ladner Gervais LLP Suite 901, 1015 4th St SW Calgary,…
  25. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 25
    Appendix
  26. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 26
    SUSTAINABILITY FOCUS Risk Management: Weighted Average Oil Hedges Supports Sustainability Fixed Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Volume bbl/d - 250 250 250 - Price USD /bbl - 71.75 71.75 71.75 - 30% hedged for Collars Q1…
  27. Our Strong Foundation Accelerates Transformation Corporate Presentation Grounded in Energy – Bonterra Energy Corp – slide 27
    Advisories FREE FUNDS FLOW Three months ended Year ended EBITDA December 31, December 31, December 31, December 31, Management utilizes free funds flow to assess the amount of funds available for ( millions) 2024 2023 2024 2023 future…

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