1. Oil Sands & Nuclear Energy: Our Integrated Energy Vision Presentation for: Energy Roundtable, Calgary Presentation by Wayne Henuset, Director September 26, 2006

2. Our Mission Energy Alberta Corp. will be a profitable energy provider, at the lowest cost, utilizing proven nuclear technology to supply low cost steam, electricity and hydrogen to oil sands operators

3. Increasing Natural Gas Requirements Oil sands production, and its cogeneration based natural gas demand, is expected to increase fourfold over the next decade, straining our natural gas supplies Energy Alberta Corp. will replace a portion of the expected oil sands natural gas demand, with nuclear energy By 2025, 70% of the oil sands production will be using in situ technology, requiring 4.2 bcf/d a natural gas A single CANDU 6 can support, on the order of, 100,000 to 150,000 barrels a day of SAGD production, replacing approximately 0.17 to 0.26 bcf/d of natural gas demand

4. Our Strengths Zero Emissions Cleanest energy alternative Cost of Nuclear Fuel per year (150,000 b/d) $18 Million Long-term (20 to 30 year) fuel contracts Off-take agreements fixed cost for 30 years, retrofit for another 30 years Cost of Natural Gas Fuel per year (150,000 b/d) $550 Million Proven Technology CANDU online refuelling Spent Fuel Safe storage at plant site (short-term) Transported outside of Alberta (long-term)

5. Nuclear as a Hedging Tool Nuclear energy is competitive in today’s natural gas price environment, and is clearly less expensive when emission costs are considered Our fuel costs are fixed on a long-term basis –CANDU fuel costs are $18 Million Canadian per year (using U 3 O 8 at US$32 / pound) Natural gas is based on the spot market, and costs over $550 Million a year (2005 AECO-C average) –A doubling of the contracted price of uranium would only increase our energy costs by 3% Our “emissions” costs are fixed –Energy Alberta Corp. pays an annual amount for the disposal and management of spent fuel; few other sources of energy generation currently pay for their “waste” products

6. Nuclear Renaissance 442 reactors operating today 28 more reactors under construction Over 50 reactors being proposed Ontario, USA, Europe, China, and Southeast Asia Public opinion EAC commissioned Longwoods International to conduct a public opinion survey (Alberta, November 2005) on the idea of using nuclear to power oil sands development 40% of respondents in favour 36% of respondents were neutral

7. Energy Alberta Corp.’s Business Model Partnered with world leader in new build nuclear reactors – Atomic Energy of Canada Ltd. (AECL) Long-term energy off-taker agreements with major energy companies –20 to 30 year commitments –Open season process starting in November 2007 CANDU 6 –Online refuelling –Highest plant uptime vs. competition Latest CANDU 6 performance uptime exceeds 90%, based upon improved operator performance

8. Atomic Energy of Canada Limited 10% of the nuclear reactors, worldwide –Canadian Crown Corporation Ontario based AECL and Team CANDU will provide –Design –Turnkey construction for a guaranteed fixed price On-time & On-budget Track record Romania (1996, and 2007) China (2002 and 2003) South Korea (1997, 1998, and 1999) –Operations support –Spent fuel management support

9. Corporate Milestones July 2005 –Concept formulated July 2005 to July 2006 –Discussions with industry August 2006 –EAC-AECL Exclusivity Agreement November 2007 –Open Season process begins January 2008 –Capacity is contracted March 2008 –Regulatory Process commences March 2011 –Construction commences December 2016 –Nuclear power plant is fully operational