Petrolympic Properties in QuÉbec to offer locally-produced oil & natural gas to a striving market APGQ-QOGA 8th annual meeting Montréal – October 31, 2016 OTCQB: PCQRF –

SAFE HARBOUR STATEMENT This presentation contains certain forward-looking statements concerning future operations, economic performances, financial conditions, and financing plans. These statements are based on certain assumptions and analyses made in light of management experience, perception of historical trends, current conditions, and expected future developments as well as other factors that management believes are appropriate in the circumstances. However, whether actual results and developments will conform to management expectations and predictions is subject to a number of risks, uncertainties, and assumptions. Consequently, all the forward-looking statements made in this document are qualified by these cautionary statements and there can be no assurance that the results or developments anticipated by management will be realized, that they will have the expected consequences to or effects on the company and its subsidiaries or its business operations. Management undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable laws. For all these forward- looking statements, management claims the protection of the safe harbour for forward- looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995. OTCQB: PCQRF –

COMPANY PROFILE Listed on TSX-V:PCQ and OTCQB: PCQRF Toronto-based public E&P company funded in 2007 O&G exploration in Quebec through its subsidiary Petrolympia for conventional reservoirs and for the Utica Shale Oil production in Texas from Eagle Ford Shale New oil asset in Western Canada Focus on assets with unlimited growth potential 1.86 million acres (750,000 ha) position in world-class plays Common Shares 105.5 million Insider Ownership 45 % Debts None OTCQB: PCQRF –

POSITION IN QUÉBEC Petrolympic holds interests with unlimited potential in the Gaspé / Lower St. Lawrence Conventional reservoirs One reservoir independently validated – 61.1 MMBOE (Sproule, 2016) 2017-2018 program designed to add a potentially unlimited value to the properties Petrolympic also holds additional interests in the St. Lawrence Lowlands Diversified conventional reservoirs (sandstones, carbonates and dolomitized plays) Proven unconventional reservoirs (Utica Shale) $20M invested so far in all the properties Petrolympic’s assets are close to local industries and end-users There is real political and social support for local development of conventional reservoirs and the company intends to establish and maintain a good and respectful relationship with the communities and the land users, in line with the future hydrocarbons law and regulations OTCQB: PCQRF –

SOCIAL ACCEPTABILITY STRATEGY Petrolympic intends to root its activities in the local social and economic fabric Identify the local needs and strengths, the social and environmental constraints Seek local partnerships for the benefit of the communities Strong will to work WITH the communities, never against them Strong will to bring something more, not to destroy what already works well Develop and enforce a comprehensive social acceptability action plan Petrolympic favors direct dialogue with the stakeholders in a non-passionate environment Give time to the dialogue, take the time to collect factual data Revise the programs according to the recommendations of the stakeholders Accountability: in the long run, establish follow-up comities on the different projects Period of regulatory uncertainty for everybody Difficulty (on both sides) to discuss technical aspects until the regulatory framework is clarified Best efforts deployed to anticipate the new regulations and get inspiration from them and, by default, stick to recognized industrial and social best practices OTCQB: PCQRF –

LOWER ST. LAWRENCE / GASPÉ PENINSULA 100% interest in the Matapédia and Mitis properties 100,542 acres / 40,688 ha _______ 30% interest in properties held by joint venture partner Squatex Energy and Resources Inc. 1,065,415 acres / 431,160 ha MASSÉ Total assets interests in Lower St. Lawrence: 1,165,957 acres / 471,848 ha MITIS MATAPÉDIA OTCQB: PCQRF –

MATAPÉDIA PROPERTY Several prospects with superposed conventional structural traps Hosted in Early Devonian Forillon / Indian Cove limestone and underlying Silurian Sayabec limestone / Val-Brillant sandstone Target depths range: 1,970-8,200ft / 600-2,500m Reservoir analogues already validated in eastern Gaspé (Forillon / Indian Cove in Galt and Bourque fields), in Massé (Sayabec) and in Pennsylvania/ West Virginia (Val-Brillant equivalent) 5 km OTCQB: PCQRF –

LAC ALFRED STRUCTURE IN MATAPÉDIA Example of drillable prospect in Matapédia highlighted by reprocessed governmental seismic: 3-way faulted anticline closure in Forillon Fm Estimated depths: Top Forillon: 4,020ft / 1,220m Total depth of well: 4,725ft / 1,440m Inverted growth fault sealed by Shiphead and Indian Cove formations, development of natural fracture networks and possible hydrothermal dolomitization in the underlying Forillon Fm 1km OTCQB: PCQRF –

VAL-D’IRÈNE STRUCTURE IN MATAPÉDIA Example of prospect in Matapédia highlighted by reprocessed governmental seismic: 3-way faulted anticline closure in Forillon Fm Estimated depths: Top structure: 2,625ft / 800m Total depth of well: 5,085ft / 1,550m Abundant oil and gas shows are documented in shallow offset wells in close vicinity. Gas smells are also documented on outcrops in the Forillon Formation 1km OTCQB: PCQRF –

MITIS PROPERTY 5 km Conventional structural traps Hosted in Silurian Val-Brillant sandstone Target depths range: 1,800-7,300ft / 550-2,225m Reservoir analogues already validated in Pennsylvania/ West Virginia (Val-Brillant equivalent) Regional offset data confirm the potential 5 km At depth in Massé No 2 well (secondary porosity) On outcrops (bitumen-filled porosity) OTCQB: PCQRF –

LAC CHEVREUIL STRUCTURE IN MITIS Example of drillable prospect in Mitis highlighted by reprocessed proprietary seismic: Two flat spots (black arrows) hosted in Val- Brillant sandstone in a faulted anticline Direct indicators of fluids Estimated depths: Top shallow target: 1,850ft / 565m Top deep target: 2,360ft / 720m Total depth of well: 2,950ft / 900m Drilling program in preparation 1km On outcrop the Val-Brillant sandstone locally exhibits secondary porosity through dissolution during burial diagenesis, filled with bitumen coatings (porosity averages 10%, with up to 20% locally) OTCQB: PCQRF –

2017-2018 EXPLORATION PROGRAM Phase I Mitis 1 deviated exploration well to test Lac Chevreuil structure 40mi / 65km of infilling and exploratory seismic Matapédia 1 vertical exploration well to test Lac Alfred structure 75mi / 120km of infilling and exploratory seismic Fieldworks Combined in both properties Phase II Mitis 2 exploration wells to test additional structures 1 production well Matapédia 4 exploration wells to test additional structures – Exploration program is conditional to results, permitting, equipment availability and funding – OTCQB: PCQRF –

DISCOVERIES IN THE MASSÉ STRUCTURE Conventional reservoir discovered, independently evaluated by Sproule (2016) – 61.1 MMBOE Massé No 1 (total depth 6,148 feet / 1,874 meters) Reservoir characteristics (Sproule 2014) Depth: ~ 1,850m Thickness: ~ 10m Porosity up to 20.8% Permeability up to 1,624 mD Charge: 89% methane No H2S Massé No 2 (total depth 6,463 feet / 1,970 meters) Hydrocarbon charge Heavy oil (19.85º API and 0.953% sulfur) Methane and condensates No H2S Well being monitored and maintains its pressure (Source: Squatex) Dark brown (D8) oil with 19.85° API and less than 1% sulfur. Sample collected at surface (Massé No 2) GAS OIL GAS + OIL MASSÉ No 1 MASSÉ No 2 2005-SQX-01 2008-SQX-04 S N 1 km OTCQB: PCQRF –

CONFIRMATION OF THE EXPLORATION STRATEGY Confirmation that hydrocarbon-bearing intervals can be successfully located through processing of seismic AVO anomalies Opens the way to test additional drilling targets in a vast region around the Massé structure Three main conventional plays are now considered on the Property: Naturally fractured carbonates Hydrothermal dolomitization Pinnacle reefs Two main formations targeted in the Siluro-Devonian: The Sayabec limestone The Val-Brillant sandstone Ongoing academic research project with focus on: Internal architecture of the Sayabec Formation Relationships with hydrothermal dolomitization and O&G potential (Source: Squatex) OTCQB: PCQRF –

ST. LAWRENCE LOWLANDS 100% interest in 1 property 138,754 acres / 56,152 ha _______ 30% interest in properties held by joint venture partner Squatex Energy and Resources Inc. 536,051 acres / 216,933 ha and 12% interest in properties farmed out by Canbriam Energy Inc. 19,768 acres / 8,000 ha Total assets interests in St. Lawrence Lowlands: 694,573 acres / 281,085 ha OTCQB: PCQRF –

ST. LAWRENCE LOWLANDS Majority of Lowlands properties are in the area prospective for the Utica Shale gas and the conventional Trenton-Black River HTD play Properties are at the heart of the industrial Quebec, with high local demand for natural gas and good pipeline networks Utica Shale GIIP estimated to 183Tcf for the Lowlands by the Geological Survey of Canada (2014) Canbriam farmout is focused on developing this shale gas asset but has been put to a halt till fraccing moratorium is lifted Trenton-Black River HTD play has good production history immediately south of the border in NY State Shallow platform carbonates and sands in SW corner are equally prospective and inexpensive to develop Utica Shale gas and Trenton-Black River Shallow platform carbonates and sands OTCQB: PCQRF –

Poised FOR HIGH growth in Quebec Petrolympic is well positioned to take advantage of a diversified portfolio of assets: 1.86 million acres (750,000 hectares) land position – 100% owned and JV partnership Utica Shale and conventional plays in St. Lawrence Lowlands – Dry gas Conventional plays in Gaspé / Lower St. Lawrence – Gas, condensates, oil Short- and mid-term economic models to develop Petrolympic’s properties capitalize on the high demand for locally-produced oil and natural gas Petrolympic’s policies are oriented to: Maximize the economical benefits for the region and for Québec Develop the resources in an environmentally and socially responsible way Establish and maintain a good relationship with the communities and the land users OTCQB: PCQRF –

Mendel Ekstein, President and CEO Andreas Jacob, Vice-President Contact: Mendel Ekstein, President and CEO Andreas Jacob, Vice-President Petrolympic Ltd. 36 Toronto Street, Suite 1000 Toronto M5C 2C5 ON Ph: +1 845-656-0184 info@petrolympic.com www.petrolympic.com OTCQB: PCQRF –