CORPORATE OVERVIEW Why NuVista Approaching The Largest Independent Condensate-Rich Alberta Montney Pure Play 100k Established Track Record Boe/d production NuVista Prolific Depth and Scale of Repeatable & High-Value Montney…
CORPORATE OVERVIEW The NuVista Journey Production Growth Net Debt Reduction Shareholder Returns (MBoe/d) (MM) (MM) 100 600 Total Returns 100 600 500 To-Date 75 50 400 50 230 250 200 25 0 0 0 2020 2022 2024…
CORPORATE OVERVIEW The NuVista Journey: Best-in-Class Track Record Leading Production per Share Growth While Growing Profitably 20% 3.0x Avg. Production per Share Growth (2021-26) 3-Year PDP Recycle Ratio (2022-24) 2.5x 15%…
INVESTMENT THESIS: MATERIAL GROWTH BY YEAR-END 2025 Annual Production Outlook Corporate Production (Boe/d) 100k Boe/d Milestone by Year-end 100k 50 100 43 New Wells 45 89.5k Third-Party Pipestone Plant 40 Volumes Revised to…
INVESTMENT THESIS: 5-YEAR PLAN Investment Thesis: Material Low-Risk Growth & Returns Runway Set for Growth to 125k Boe/d 125 Pillars for Growth In Place: 100 Inventory De-Risked 75 Egress Contracts Signed (Mboe/d) 50…
Legend Legend OUR POSTAL CODE NVA NVA Domestic Condensate Hub CNQ CNQ OVV OVV North ARX ARX NuVista is the 4th Largest Alberta Pipestone WCP (VRN) VRN SHEL SHEL Montney Condensate Producer CNQ (SCR) SCR SDEL SDEL Grande…
OUR POSTAL CODE Condensate Pricing Market: Supply & Demand Fundamentals Western Canadian demand exceeds domestic supply = Premium pricing over the long-term Western Canada Condensate Supply and Demand (MBbls/d) Implied Rail Imports…
INVENTORY OVERVIEW NuVista Assets: Thick Montney Package with Multiple Proven Zones and Several Emerging Zones NORTH PIPESTONE SOUTH PIPESTONE GOLD CREEK ELMWORTH BILBO 3-Layer Development MNTN D North Pipestone…
T72 INVENTORY OVERVIEW Legend Multi-Decade North Developed to Date Pipestone Developed to YE 28 Developed to YE 33 Inventory Base T71 South Booked Montney Drilling Inventory(1) Pipestone 1584 T70 -395 995…
INVENTORY OVERVIEW NuVista Montney Continues to Outperform Consistent track record of reserves 3-Year Reserve Replacement(2) growth and value creation 350% 3-Year Reserve Reserves (MMboe) 165% Replacement of 350%(2) PDP TP…
INVENTORY OVERVIEW Emergence of a Prolific Resource The Lower Montney has evolved into a material, consistent & highly economic portion of NuVistas Portfolio Lower Montney Production (Boe/d) Lower Montney Lower Montney 10,500…
ASSET OVERVIEW: PIPESTONE Pipestone Proven Top-Tier Asset with Material Running Room Pipestone Pipestone Production Capability Booked Locations (Mboe/d) Third Party Gas Plant Debottlenecking 62 Flagship Asset 20 Years Low-Risk…
ASSET OVERVIEW: PIPESTONE Delivering Value Consistently Throughout the Condensate Fairway Cumulative Condensate Production Cumulative Gas Production Legend…
ASSET OVERVIEW: WAPITI Wapiti Stage Set for High-Return Focus Wapiti Wapiti Production Capability Significant Resource Booked Locations (Mboe/d) Gold Creek in Place Expansion +10k Boe/d 62 228 North Gold Creek Elmworth + Gold…
ASSET OVERVIEW: WAPITI A High-Quality Resource that Competes on the World Stage Cumulative Condensate Production Cumulative Gas Production Legend…
EXECUTION & PERFORMANCE Lower Montney Delineation Portfolio of High Deliverability Wells with a Range of Fluid Composition Pipestone Lower Montney Average Cumulative Production N Gold Creek 300 Condensate NGL's Natural Gas…
EXECUTION & PERFORMANCE Steady Improvement in Wapiti Economics Type Well Parameters Type Curve Payout 12 Wapiti Wapiti Pipestone Pipestone Base Rich Rich Very Rich EUR (Raw Gas) (Bcf) 8.8 6.5 7.0 5.0 9 Payout Period…
EXECUTION & PERFORMANCE Execution Improvements Translate to Shareholder Returns Drilling Performance 2025 + 2026 Capital Budget Monobore Well-design + Refined Landing Targets Up to 100MM Savings 450 1000 Daily Drilled Length (m)…
INVESTMENT THESIS: 5-YEAR PLAN Investment Thesis: Material Low-Risk Growth & Returns Runway Set for Growth to 125k Boe/d 125 Pillars for Growth In Place: 100 Inventory De-Risked 75 Egress Contracts Signed (Mboe/d) 50…
FINANCIAL STRENGTH Robust Balance Sheet and Financial Leverage Significant Reduction in Net Debt 165MM Senior Debt Termed Out to 2026 7.785% Coupon Year-end Net Debt Net Debt: Annual AFF 5 year term (callable as of July 2023) 800…
FINANCIAL STRENGTH Well-Diversified Gas Market Exposure Natural Gas Volume Exposure by Market Marketing program broadens Hedged NYMEX Chicago California Dawn Emerson Ventura AECO LNG exposure and mitigates local 100% 17% 9% 5%…
INVESTMENT THESIS: WHY NUVISTA NuVista: Focused on Returns Prolific Depth & Established Runway set for Scale of Inventory Track-record Growth to 125k Boe/d Montney Growth Amplifies Pure Play Value & Returns Returns-Focused…
Advisories (cont) NuVista Investment Thesis and 5 Year Plan Specified Financial Measures Free adjusted funds flow or FAFF The Corporation has presented an investment thesis and associated five This corporate presentation uses specified…
Advisories (cont) Capital expenditures NuVista calculates PDP F&D costs as the sum of development costs plus additional disclosure on this capital management measure. the sum of the change in FDC over the applicable financial year,…
Abbreviations and Definitions physical storage and trading hub for natural gas AECO E estimate MMBtu million British thermal units in Alberta AFF Adjusted funds flow ERM Enterprise Risk Management MMcf million cubic feet Avg average…
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