Corporate Profile Premium investment opportunity for Montney exposure, one of the most profitable assets in North America Shares outstanding 1 583 million BC & Alberta Montney Producers 450 2 Market capitalization 15.6 billion 400…
Transformation to the Largest Montney Producer Large concentrated asset base drives efficiency, well positioned for the future 2014 2025E NEBC Pouce Prestville Valhalla Chinchaga NEBC 1 million Hotchkiss NEBC Montney acres Hawk Hills…
Investment Case for ARC World-class Assets Free Funds Flow Per Share1 2 3 Growth 5.00 Canada's largest Montney & condensate producer Capability to grow 500 Mboe/d and sustain for greater than 10 years 4.00 Commitment to…
2025 Capital Budget
2025 Guidance Production & Expenses 2025 Revised 2025 Production Guidance1 Guidance Crude oil and condensate (bbl/day) 104,000 - 110,000 107,000 - 112,000 Natural gas (MMcf/day) 1,400 1,420 1,390 1,420 NGLs (bbl/day) 42,000 - 48,000…
2025 Guidance Capital Expenditures & Production Attachie(1) 425MM - 475MM Ante Creek 24 wells 33,000 boe/day 80MM (H2/25 35-40,000 boe/d) 13 wells 20,000 boe/day Greater Dawson Kakwa 195MM 21 wells 950MM 1,000MM 95,000…
Dawson III & IV, BC Long-term Plan
Long-term Outlook Delivers Significant Value Disciplined plan to grow free funds flow per share1 2 Boe/day Base Production 500,000 Attachie I 315% Attachie II 450,000 Free Funds Flow4 Per Share Growth 400,000 (40% CAGR4)…
Global Leader in Low-cost Energy Development Providing reliable and affordable low-cost energy to global demand markets 50% Natural gas production delivered to the US 25% Future natural gas production linked to…
Kakwa, AB Capital Allocation
Track Record of Capital Discipline A disciplined investment framework fundamental to profitable growth Return on Average Capital Employed1 2 3 40% 30% Average 12% 20% 10% 0% -10% -20% 13 1) Non-GAAP…
Long-term Outlook Disciplined investment drives free funds flow per share growth millions Capital Expenditures1 2 3 millions Free Funds Flow2 3 2,500 2,000 WTI US50/B; AECO C2.50/GJ 3,000 WTI US70/B; AECO C3.50/GJ 1,500 WTI…
Return of Capital Strategy Balancing sustainable dividend growth with share repurchases 1.20 Shares (millions) 800 10% Dividend Per Share Growth CAGR22 3 4 Dividend per share Dividend payout ratio Outstanding shares 750 15%…
Parkland, BC Asset Portfolio Overview
Montney Overview ARCs competitive advantage in a world-class asset 4,800 Drilling locations 20 years High-quality inventory 300 metres Thickness 1.9 Bcf/d 200 Mbbl/d Owned-and-operated infrastructure 17
Montney Outcompetes North America Plays Low-cost and deep inventory relative to North American shale plays 18 1) Turn-in line (TILs)
North American Oil Inventory Large inventory runway relative to North American oil-weighted shale plays Inventory Life by Breakeven 27.50 NA Onshore Inventory Life at NTM Activity Cadence (Years) 25.00 22.50 20.00 17.50…
Attachie Break-evens Attachie break-evens rank among the lowest in North America Source Enverus Intelligence Research Note L48 Plays include the Delaware, Permian (Delaware, Midland), ScoopStack, Eagle Ford, DJ, Williston Basin,…
Montney Inventory ARC has a deep Montney inventory at the low end of the cost curve C/Mcf Supply Cost of Inventory by Property1 2 3.50 3.00 50% Gas AT NPV10 Supply Cost (CAD/Mcf) of total inventory has a supply cost 2.50…
Montney Track Record of Execution Early movers to consolidate asset base at a low cost and deliver sustained profitable growth Boe per day 2025 2028 480,000 Montney Crude Oil & Liquids (bbl/d) Kakwa Acquisition Attachie Phase II…
Large Network of Owned-and-operated Infrastructure Owned infrastructure results in approximately 300 million of cost avoidance annually Parkland 03-09 100 MMcf/day Attachie Phase I 90 MMcf/day 10 Mbbl/day 1.9 Bcf/d 25 Mbbl/day…
Kakwa Overview Liquids-rich asset offering a long runway of development Largest condensate asset in Canada Resource to sustain production at 200,000 - 210,000 Gold Creek Plant SCALE boe/d for the next 15 years Kakwa lands…
Kakwa Production Performance Production outcomes by vintage 30 Cumulative Production (Mboe per 100 metres) Highly productive reservoir 25 Every vintage of wells have delivered strong results 20 Infill drilling effectively…
Dawson Overview Flagship asset delivering superior free funds flow2 with a long inventory runway 1 Tcf Natural Gas Produced Developed (36%) Undeveloped (61%) SCALE UMA 61% Undeveloped Dawson Phase III & IV 2023-28 Asset…
Sunrise Overview Scale and low-cost the key ingredients to supply West Coast LNG Highly efficient EFFICIENT Developed (43%) dry natural gas play due to stacked development layers Undeveloped (57%) UMA Interconnected to…
Attachie, BC Attachie
Attachie Overview Scalable condensate-rich Montney development Scale for Multi-phase Development SCALE 360 net sections in condensate-rich Montney Liquids sales to UMA Overpressured liquids-rich resource Pembina Recent…
TDZE Agreement Lands Development agreement increases ARCs Attachie land position by 10% to 360 sections Land is located directly adjacent to ARCs Attachie development in the condensate-rich region of the Montney Resource quality…
Attachie Phase I Production Update Confidence in subsurface and facility performance underpins production outlook 40,000 Production (boe/ % Date day) Liquids 35,000 Q1 2025 31,085 60% Q2 2025 production Q2 2025 26,800 60%…
Integrated Workflow Identifying Opportunities Optimizing well design to maximize returns 2019 results (300 m interwell, 3 T/m) 280 Attachie West Upper Montney Type Curve (300 m interwell, 3 T/m) Cumulative Condensate (Mbbl)1,…
Sunrise, BC LNG & Marketing Strategy
Condensate Market Overview and Outlook WCSB condensate remains a structurally short market, reliant on imports to satisfy demand 2024 Canadian Oil 2024 WCSB Sands Production Blending Demand 520 Mbbl/d 785 Mbbl/d WCSB Condensate…
Natural Gas Marketing Strategy Portfolio with well-diversified global price exposure is driving strong realizations 123 Natural Gas Financial Exposure ARCs Current Natural Gas Portfolio 12% 8% 11% 14% 26% 15% 14% 12% 12% 10%…
LNG Economics and Agreements Long-term supply agreements to diversify and access global natural gas pricing LNG Revenue Enhancement Sensitivity Long-term Agreements 10 JKM/TTF 1 Shell Cheniere Cheniere 1,200 1 600 (40% 12 JKM/TTF…
Ante Creek, AB Appendix
Asset Level Inventory ARC has substantial Montney drilling inventory at each of our producing and growth assets Years of Development Inventory Production Run Rate at Full Capacity 0 5 10 15 20 25 30 (Mboe/d) Ante Creek Ante Creek…
Reserves Replacement1 2P reserve replacement from development 140% for 17 consecutive years 500% 450% 400% 350% 300% 250% 200% 150% 100% 50% 0% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023…
Montney Scale & Inventory Consistent reserves per share growth 75% of ARCs drilling inventory is unbooked locations Reserves (boe per share) Drilling locations 4,000 4.00 PDP TP 2P 3,8001 3,000 3.00 2,000 2.00 1,100 1.00…
Financial Strength Strong financial position has been a foundation of ARC for 29 years 2025 forecasted net debt sensitivities1 2 Long-term notes repayment schedule1 billions, ratio Cdn millions 3.0 1.5x 600 2.5 450 2.0 1.0x 1.5…
Greater Kakwa Montney Operational Excellence ARC continues to deliver top-quartile completions and drilling efficiencies in Kakwa Tonnes/day Completions Efficiency 3,000 Proppant Pumped/Day1 ARC Peer m/day Drilling Efficiency (m/day)…
NEBC Montney Operational Excellence ARC continues to outperform industry peers on both drilling and completions efficiencies in NEBC Completions Efficiency Tonnes/day Proppant Pumped/Day1 2,500 Drilling Efficiency (m/day) 12…
BC Landscape 100% of ARCs assets are outside of the Blueberry River First Nation high value areas Latest agreement removes the disturbance caps in PNG Area A that includes Attachie ARC is the sole oil and gas producer exempt…
Attachie Montney Subsurface Overview High-quality reservoir throughout ARCs lands Upper Montney reservoir thickness is consistent moving from west to east across Attachie Lower Montney reservoir thickness increases to the…
Natural Gas Price Realization Benchmarking Physical diversification to end markets is a competitive advantage Realized Natural Gas Price1 9.00 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00 2018 2019 2020 2021 2022…
U.S. Natural Gas Market Outlook Rising export demand requires 15 Bcf/d of supply growth by 2030, a significant amount must be supplied by dry gas basins 20 U.S. Natural Gas Outlook: Full-Year 2030 vs. Full-Year 2024 15 Bcf/d…
WCSB Natural Gas Market Outlook WCSB demand projections suggest 3.5 Bcf/d of incremental production is required by 2029 WCSB Natural Gas Outlook WCSB LNG Export Capacity Buildout 8 Ksi Lisims 7 LNG Canada Ph. 2 7 Cedar LNG 6…
Risk Management Contracts Positions ARCs long-term focus is to reduce downside risk and create certainty in cash flows 1 As at June 30, 2025 2025 (remainder) 2026 2027 2028 2029 Crude Oil WTI US/bbl bbl/day US/bbl bbl/day US/bbl…
ESG Ratings and Rankings Member of MSCI Global Sustainability Index Score: 30.2 High (10th Percentile) MSCI ESG Rating: AAA Environment Score: 9 Social Score: 9 Member of the 30% Club since 2018 Governance Score: 1 50
Advisory Statements
Advisory Statements Notes Regarding Forward-looking Information ARC's future shareholder distributions, including but not limited to the payment of dividends, if any, and the level thereof is uncertain. Any decision to pay dividends on…
Advisory Statements Non-GAAP Financial Measures Capital Expenditures ARC uses capital expenditures to measure its capital investment level compared to the Company's annual budgeted capital expenditures. ARC's budgeted capital…
Advisory Statements Non-GAAP Ratios Netback per boe ARC calculates netback per boe as netback divided by weighted average daily production. Netback is a non-GAAP financial measure component of netback per boe. Management believes that…
Investor Relations Contacts Dale Lewko General Investor Relations Enquiries Manager, Capital Markets 403.503.8600 403.503.8696 1.888.272.4900 DLewkoarcresources.com IRarcresources.com
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