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Canadian Natural Resources Ltd | April 2025 Corporate Presentation | Tim McKay | Page 12 of 11 | May 09, 2025

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0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 STACK - Core Eagle Ford - Non-Core Haynesville - Non-Core Eagle Ford Dry Gas Cardium Gas SCOOP - Core Montney Town ND Bakken/Three Forks - Non-Core Eagle Ford - Core Deep Basin Edson Cardium Oil DJ Basin - Core Viking Dodsland Utica Rich Gas Window Conventional Heavy Oil Single-Leg Hz Permian Midland - Non-Core Utica Oil Window PRB Turner - Core Permian Delaware - Non-Core Uinta - Core Marcellus Dry Gas Duvernay East Shale Basin Deep Basin Hinton Glauconitic Rocky Mtn House Southern AB Mannville Oil Montney Groundbirch/Sunrise/N.AB Gas Haynesville - Core Deep Basin Brazeau Marcellus Rich Gas Permian Midland - Core Duvernay Kaybob ND Bakken/Three Forks - Core Clearwater South Fairway Montney Nig/Gundy Permian Delaware - Core Deep Basin Resthaven/Kakwa Montney Pipestone/Wapiti/Karr/Lator/Deep Kakwa Montney Greater Dawson/Septimus Charlie Lake Montney Oil Alberta Conventional Heavy Oil Multilateral SK Mississippian Conventional Frobisher Dual Leg Clearwater Nipisi/West Marten Hills Canadian Natural has a significant land base with E&P acreage totaling ~23 million net acres Multi-decade inventory Top tier crude oil & natural gas areas of focus including the Clearwater, Montney, Deep Basin, Duvernay, Charlie Lake & Heavy crude oil 12 Conventional E&P Top tier plays throughout the asset base SIGNIFICANT FUTURE POTENTIAL Top North American plays Source: Peters & Co. Winter 2025 Energy Overview, January 2025. Estimates based on US$69/bbl WTI, US$13/bbl WCS/WTI Differential, US$3.60/Mcf NYMEX and C$2.75/Mcf AECO. (Half-Cycle Payout Years) Canadian Natural Other