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Advantage Oil & Gas Ltd
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April 2024 Investor Presentation
| Andy Mah | Page 13 of 11 |
October 31, 2024
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"April 2024 Investor Presentation"
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0% 50% 100% 150% 200% AECO $2/GJ CAD WTI $60/bbl USD AECO $3/GJ CAD WTI $75/bbl USD AECO $4/GJ CAD WTI $90/bbl USD Strip Compelling Economics Across Multiple Assets 13 Producing Days AAV Tier 1 Half Cycle Production Generic Type Wells 3 1. See “Specified Financial Measures” in Advantage’s MD&A for the year ended December 31, 2023 and the three months ended March 31, 2024 for information relating to these measures, which information is incorporated by reference into this presentation. See “Specified Financial Measures” in the Advisory of this presentation. 2. Forward-looking information. See “Corporate Update” on page 3 in Advantage’s MD&A for the year ended December 31, 2023 for an explanation of significant differences in forward-looking information and historical results. Refer to the Advisory in this presentation and Advantage’s news releases dated March 4, 2024 and November 30, 2023 including advisories in the press releases for material assumptions and risk factors. 3. Production and economic forecasts per internal management estimates. Type well capital inclusive of drilling, completions, equip and tie in of a generic multi-well pad. IRR % 1 Type Curve 4 Generic IRR 1,4 (%) Generic Payout 1,4 (months) Generic Type Well Capital ($MM) 3 Liquids (%) Glacier D1 Gas 97% 13 $6.8 2% Glacier D4 Gas 95% 12 $6.8 6% Glacier Upper Gas 107% 12 $6.8 2% Valhalla D4 Rich 97% 12 $7.8 25% Wembley D3 Oil 94% 10 $8.5 57% AAV Tier 1 Half Cycle Type Well Economics 4,5 BOE/day