DUVERNAY AT GREATER KAYBOB

• ~220,000 gross prospective acres
• ~700 well development inventory
• 200 – 1,000 bbl/mmcf initial condensate yields
• 2016 joint venture secured $1 billion of initial investment which was completed in Q1 2020; AOC's capital exposure limited by carry provision ($75MM net)
• Updated 5-year plan designed to be self-funding (2020-2024)