Enhance Energy- Project Overview J.P. Jepp and Brendan McGowan September 19, 2019 www.enhanceenergy.com

agenda What is the Alberta Carbon Trunk Line Project? Who is Enhance Energy? Enhance Energy: C02-EOR Capture Facilities Pipeline Facilities Injection and Production Facilities Enhance Energy: Low-Carbon Low-Cost Oil Production ACTL and CO2-EOR: Positioned for Growth in Alberta

The alberta Carbon Trunkline project (3,500-4,400 T/d) (800 T/d) (40,000 Hp compression, 240 Km pipeline) (CO2 EOR) CO2 supply - NWRP, Nutrien, otherwise vented Wolf Carbon Solutions midstream services provider of compression and transport, build, own operate system CPPIB backed, open system, financial depth, Enhance - the buyer and financial backstop for the entire system, pay for CO2, pay Wolf for services to recover capital sequester CO2 under regulated protocol and monitoring maintain ultimate liability for CO2 produce low cost, low carbon energy GOA – funded 300 MM by end of 2019, highway 2, excess capacity 8 times initial volumes, open systme Canada - under 2 grant programs, aligned goals with Alberta

The alberta carbon trunkline Project Integrated Carbon Capture, Transport, Utilization and Storage Over $1 B capital invested by end of 2019 World’s largest capacity pipeline system dedicated to anthropogenic CO2 History of Enhance, CO2 EOR, Weyburn analogy Describe assets Funding allowed Highway 2 vs grid road $1 B invested by first injection of CO2 ($300 MM of funding at that time)

Who is Enhance Energy? Why To support the sustainability of our planet by being a key contributor to the supply of low cost, low carbon energy. How Pursue efficient, low cost, and innovative Carbon Capture Utilization and Storage alternatives that will reduce the carbon intensity of fossil fuels. Strategy Develop the expertise, technology, experience and critical infrastructure necessary to capture carbon for the purpose of Enhanced Oil Recovery and permanent CO2 sequestration.

Who is Enhance Energy? 5000 t/day injection is equivalent to: 325 new Goodyear NT New Zeppelin Blimps (at atmospheric pressures) 144 Transport Trucks (at the same operating pressures as pipeline) Does this project make a difference, yes Climate Leadership Plan – goals were 60 Mt.yr by 2030 At ACTL capacity of 14.6, approx. 25% of total goal and 50% of oil and gas targets Removing 325,000 cars off the road

Enhance Energy: CO2 EOR CO2 EOR not new, Canada, US experience Proven technology, in all areas, transport, compression, injection, production Q: how much CO2 stays in the ground, A: all of it It is a closed loop system CO2 mixes w/ oil and pushes to prod’n wells, water included Separate and then reinjection (recycle), sell oil At end of day, stop injection, stop production, permanent storage It will stay in the ground

Enhance Energy: CO2 EOR Extension of Field Life & Economic Activity for Decades Historical Drilling Provides Valuable Reservoir Information 1950’s 2018 2020 2050’s Injection Operations are Common Oilfield Practice Permanent Containment Verified by Industry CCUS Experts Incremental Oil Reserves Create Royalty, Job, Economic Value - Will the CO2 stay in the ground? Putting CO2 back where it came from Low environmental footprint with use of existing leases, and other existing infrastructure Known capacity to store CO2

Capture facilities- Site

capture facilities- Nutrien Site Development (Photos- August 9, 2019)

Capture Facilities- Main Compressor Site Development Photos August 02, 2019

Pipeline Facilities- Site Development Pipeline is >75% complete Engineering & procurement on the facilities is nearing completion ACTL and Capture facilities are on track to be commissioned in Q4 2019

Injection and Production Facilities- Clive Field Existing Clive central processing facility Modifications required to handle CO2 and additional fluids Utilizes existing surface lease Battery is down for construction to integrate CO2 facilities Notes:

Clive Development Plan Phase 1 Area – 2019/2020 $125MM in capital New production and injection wells New CO2 injection and production pipelines Central Facility Expansion 60MMcf/day recycle compression Designed to inject up to 5,000 tonnes/day of CO2 - As we speak we are developing in Central Alberta, locals are supportive and aware Have kept head down but now getting interest, CBC and others

Enhance Energy: Low-Carbon Low-Cost Oil Production Tonnes/barrel CO2 emissions from oil production and combustion 0.40 CO2 permanently sequestered in EOR 0.25 to 0.70 Net CO2 emissions 0.15 to -0.3 (sink) → CO2-EOR produces low-carbon oil. Exactly what markets are seeking more of on a forward basis. Opportunity is “ours to lose” ----- Why? We have emissions, CCUS experience, WCSB, and now the ACTL (1) https://www.canada.ca/en/environment-climate-change/services/environmental-indicators/greenhouse-gas-emissions/large-facilities.html

Enhance Energy: Low-Carbon Low-Cost Oil Production Resource Development Jobs Access to 1 Billion Barrels Incremental Reserves from Mature Fields 30,000 Man-Years of Employment from Phase 1 Alone Royalties GHG Emissions CO2 Opportunity is “ours to lose” ----- Why? We have emissions, CCUS experience, WCSB, and now the ACTL Potential for $Billions Additional Royalties Access to Megatonnes of Permanent CO2 Sequestration (1) https://www.canada.ca/en/environment-climate-change/services/environmental-indicators/greenhouse-gas-emissions/large-facilities.html

ACTL and CO2-EOR: positioned for growth in alberta Top 200 large emitters together > 148 MMTpa Western Canada Sedimentary Basin – centuries of EOR & storage capacity ACTL has room for growth- current two sources approximately 15% of 40,000 tonne/day line capacity risers at regular intervals Opportunity is “ours to lose” ----- Why? We have emissions, CCUS experience, WCSB, and now the ACTL (1) https://www.canada.ca/en/environment-climate-change/services/environmental-indicators/greenhouse-gas-emissions/large-facilities.html

Supporting the sustainability of our planet…. Thank You Notes: Supporting the sustainability of our planet….