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Canadian Natural Resources Ltd
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Q1 2022 Corporate Presentation
| Tim McKay | Page 1 of 11 |
March 21, 2026
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"Q1 2022 Corporate Presentation"
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Q1/22 Conference Call May 5, 2022 1 Canadian Natural Q1/22 Conference Call May 5, 2022 • Flexible capital allocation to maximize value • Strong Balance Sheet supporting investment grade credit ratings • Defined growth/value enhancement plans by product/basin • Diverse, balanced asset base – strong differentiation versus peers ? Product mix ? Project timelines ? Long reserve life, low decline rate • Opportunistic acquisitions • Effective and efficient operations ? Area knowledge ? Extensive infrastructure ownership ? Operatorship of core areas • Industry leadership in Environmental, Social and Governance (ESG) stewardship LEADING FREE CASH FLOW GENERATION 2 Our Strategy