Exhibit 99.1

Disclosure about Oil and Gas Producing Activities - Accounting Standards Codification 932, Extractive Activities - Oil and Gas (unaudited)

The following disclosures have been prepared in accordance with FASB Accounting Standards Codification 932, Extractive Activities - Oil and
Gas. In December 2009, Husky adopted revised oil and gas reserve estimation and disclosure requirements that conformed the definition of proved reserves to the SEC Modernization of Oil and Gas Reporting rules, issued by the SEC in 2008. An
accounting standards update revised the definition of proved oil and gas reserves to require that the average,
first-day-of-the-month price during the 12-month
period before the end of the year rather than the year-end price, must be used when estimating whether reserve quantities are economic to produce. This same 12-month
average price is also used in calculating the aggregate amount of (and changes in) future cash inflows related to the standardized measure of discounted future net cash flows. The rules also allow for the use of reliable technologies to estimate
proved oil, natural gas, and NGL reserves if those technologies have been demonstrated to result in reliable conclusions about reserve volumes.

The
unaudited supplemental information on oil and gas exploration and production activities for 2016, 2015, and 2014 has been presented in accordance with the revised reserve estimation and disclosure rules, which were not applied retrospectively.

Oil and Gas Reserves

Proved oil and gas reserves are
those quantities of oil and gas which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible from a given date forward, from known reservoirs, and under existing economic conditions,
operating methods, and government regulations.

Proved developed oil and gas reserves are proved reserves that can be expected to be recovered:(i) through
existing wells with existing equipment and operating methods or in which the cost of the required equipment is relatively minor compared to the cost of a new well; and (ii) through installed extraction equipment and infrastructure operational
at the time of the reserves estimate if the extraction is by means not involving a well.

Proved undeveloped oil and gas reserves are proved reserves that
are expected to be recovered from new wells on undrilled acreage, or from existing wells where a relatively major expenditure is required for recompletion.

Canadian provincial royalties are determined based on a graduated percentage scale, which varies with prices and production volumes. Canadian reserves, as
presented on a net basis, assume prices and royalty rates in existence at the time the estimates were made, and Huskys estimate of future production volumes. Future fluctuations in prices, production rates, or changes in political or
regulatory environments could cause Huskys share of future production from Canadian reserves to be materially different from that presented.

Subsequent to December 31, 2016, no major discovery or other favourable or adverse event is believed to have caused a material change in the estimates of
developed or undeveloped reserves as of that date.

Note that the numbers in each column of the tables throughout this exhibit may not add due to
rounding.



---

Results of Operations for Producing Activities(1)(unaudited)



|                                                   |  |                              |        |   |               |  |       |       |  |  |        |  
|-------------------------------------------------- |  | ---------------------------- | ------ | - | ------------- |  | ----- | ----- |  |  | ------ | -
|                                                   |  | Year Ended December 31, 2016 |       
|($ millions)                                       |  | Canada                       |        |   | International |  |       | Total | 
|Revenues, net of Royalties                         |  |                              | 2,784  |   |               |  | 756   |       |  |  | 3,540  |  
|Production and Operating Expenses                  |  |                              | 1,617  |   |               |  | 92    |       |  |  | 1,709  |  
|Depreciation, Depletion, Amortization & Impairment |  |                              | 1,444  |   |               |  | 363   |       |  |  | 1,807  |  
|Exploration & Evaluation Expenses                  |  |                              | 75     |   |               |  |      |       |  |  | 75     |  
|                                                   |  |                              |        |   |               |  |       |       |  |  |        |  
|Earnings (Loss) Before Taxes                       |  |                              | (352   | ) |               |  | 301   |       |  |  | (51    | )
|Income Taxes Expense (Recovery)                    |  |                              | (96    | ) |               |  | 75    |       |  |  | (21    | )
|                                                   |  |                              |        |   |               |  |       |       |  |  |        |  
|Results of Operations                              |  |                              | (256   | ) |               |  | 226   |       |  |  | (30    | )
|                                                   |  |                              |        |   |               |  |       |       |  |  |        |  
|                                                   |  | Year Ended December 31, 2015 |       
|($ millions)                                       |  | Canada                       |        |   | International |  |       | Total | 
|Revenues, net of Royalties                         |  |                              | 3,487  |   |               |  | 1,243 |       |  |  | 4,730  |  
|Production Expenses                                |  |                              | 1,907  |   |               |  | 97    |       |  |  | 2,004  |  
|Depreciation, Depletion, Amortization & Impairment |  |                              | 7,418  |   |               |  | 553   |       |  |  | 7,971  |  
|Exploration & Evaluation Expenses                  |  |                              | 74     |   |               |  |      |       |  |  | 74     |  
|                                                   |  |                              |        |   |               |  |       |       |  |  |        |  
|Earnings Before Taxes                              |  |                              | (5,912 | ) |               |  | 593   |       |  |  | (5,319 | )
|Income Tax Expense                                 |  |                              | (1,596 | ) |               |  | 148   |       |  |  | (1,448 | )
|                                                   |  |                              |        |   |               |  |       |       |  |  |        |  
|Results of Operations                              |  |                              | (4,316 | ) |               |  | 445   |       |  |  | (3,871 | )
|                                                   |  |                              |        |   |               |  |       |       |  |  |        |  



|(1) | The costs in this schedule exclude corporate overhead, interest expense and other operating costs, which are not directly related to producing activities.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------

Costs Incurred in Oil and Gas Property Acquisition, Exploration and Development Activities (unaudited)



|                     |  |        |       |  |               |  |     |       |  |  |       | 
|-------------------- |  | ------ | ----- |  | ------------- |  | --- | ----- |  |  | ----- | 
|($ millions)         |  | Canada |       |  | International |  |     | Total | 
|2016                 |  |        |       |  |               |  |     |       |  |  |       | 
|Property Acquisition |  |        |       |  |               |  |     |       |  |  |       | 
|Unproved             |  |        |      |  |               |  |    |       |  |  |      | 
|Proved               |  |        | 7     |  |               |  |    |       |  |  | 7     | 
|Exploration          |  |        | 59    |  |               |  | 4   |       |  |  | 63    | 
|Development          |  |        | 945   |  |               |  | 245 |       |  |  | 1,190 | 
|                     |  |        |       |  |               |  |     |       |  |  |       | 
|Total Costs Incurred |  |        | 1,011 |  |               |  | 249 |       |  |  | 1,260 | 
|                     |  |        |       |  |               |  |     |       |  |  |       | 
|2015                 |  |        |       |  |               |  |     |       |  |  |       | 
|Property Acquisition |  |        |       |  |               |  |     |       |  |  |       | 
|Unproved             |  |        |      |  |               |  |    |       |  |  |      | 
|Proved               |  |        | 56    |  |               |  |    |       |  |  | 56    | 
|Exploration          |  |        | 246   |  |               |  | 3   |       |  |  | 249   | 
|Development          |  |        | 1,867 |  |               |  | 65  |       |  |  | 1,932 | 
|                     |  |        |       |  |               |  |     |       |  |  |       | 
|Total Costs Incurred |  |        | 2,169 |  |               |  | 68  |       |  |  | 2,237 | 
|                     |  |        |       |  |               |  |     |       |  |  |       | 
|2014                 |  |        |       |  |               |  |     |       |  |  |       | 
|Property Acquisition |  |        |       |  |               |  |     |       |  |  |       | 
|Unproved             |  |        |      |  |               |  |    |       |  |  |      | 
|Proved               |  |        | 51    |  |               |  |    |       |  |  | 51    | 
|Exploration          |  |        | 358   |  |               |  | 17  |       |  |  | 375   | 
|Development          |  |        | 3,537 |  |               |  | 403 |       |  |  | 3,940 | 
|                     |  |        |       |  |               |  |     |       |  |  |       | 
|Total Costs Incurred |  |        | 3,946 |  |               |  | 420 |       |  |  | 4,366 | 
|                     |  |        |       |  |               |  |     |       |  |  |       | 

Acquisition costs include costs incurred to purchase, lease or otherwise acquire oil and gas properties.



---

Exploration costs include the costs of geological and geophysical activity, retaining undeveloped properties and
drilling and equipping exploration wells.

Development costs include the costs of (i) drilling and equipping development wells and
(ii) facilities to extract, treat, gather and store oil and gas.

Exploration and development costs include administrative costs and depreciation of
support equipment directly associated with these activities.

The following table sets forth a summary of oil and gas property costs not being amortized
at December 31, 2016, by the year in which the costs were incurred:

Withheld Costs (unaudited)



|                            |  |       |       |  |      |  |     |      |  |  |       |  |  |               |     |  |  |  |     | 
|--------------------------- |  | ----- | ----- |  | ---- |  | --- | ---- |  |  | ----- |  |  | ------------- | --- |  |  |  | --- | 
|($ millions)                |  | Total |       |  | 2016 |  |     | 2015 |  |  | 2014  |  |  | Prior to 2013 |    
|Property Acquisitions       |  |       |       |  |      |  |     |      |  |  |       |  |  |               |     |  |  |  |     | 
|Canada                      |  |       | 64    |  |      |  | 5   |      |  |  | 54    |  |  |               | 5   |  |  |  |    | 
|International               |  |       |      |  |      |  |    |      |  |  |      |  |  |               |    |  |  |  |    | 
|                            |  |       |       |  |      |  |     |      |  |  |       |  |  |               |     |  |  |  |     | 
|Total Property Acquisitions |  |       | 64    |  |      |  | 5   |      |  |  | 54    |  |  |               | 5   |  |  |  |    | 
|                            |  |       |       |  |      |  |     |      |  |  |       |  |  |               |     |  |  |  |     | 
|Exploration                 |  |       |       |  |      |  |     |      |  |  |       |  |  |               |     |  |  |  |     | 
|Canada                      |  |       | 641   |  |      |  | 89  |      |  |  | 246   |  |  |               | 306 |  |  |  |    | 
|International               |  |       | 402   |  |      |  | 6   |      |  |  | 14    |  |  |               | 36  |  |  |  | 345 | 
|                            |  |       |       |  |      |  |     |      |  |  |       |  |  |               |     |  |  |  |     | 
|Total Exploration           |  |       | 1,043 |  |      |  | 96  |      |  |  | 260   |  |  |               | 342 |  |  |  | 345 | 
|                            |  |       |       |  |      |  |     |      |  |  |       |  |  |               |     |  |  |  |     | 
|Development                 |  |       |       |  |      |  |     |      |  |  |       |  |  |               |     |  |  |  |     | 
|Canada                      |  |       | 1,321 |  |      |  | 617 |      |  |  | 704   |  |  |               |    |  |  |  |    | 
|International               |  |       | 274   |  |      |  | 146 |      |  |  | 63    |  |  |               |    |  |  |  | 65  | 
|                            |  |       |       |  |      |  |     |      |  |  |       |  |  |               |     |  |  |  |     | 
|Total Development           |  |       | 1,595 |  |      |  | 764 |      |  |  | 767   |  |  |               |    |  |  |  | 65  | 
|                            |  |       |       |  |      |  |     |      |  |  |       |  |  |               |     |  |  |  |     | 
|Capitalized Interest        |  |       |       |  |      |  |     |      |  |  |       |  |  |               |     |  |  |  |     | 
|Canada                      |  |       | 72    |  |      |  | 13  |      |  |  | 59    |  |  |               |    |  |  |  |    | 
|International               |  |       | 151   |  |      |  | 35  |      |  |  | 30    |  |  |               | 9   |  |  |  | 76  | 
|                            |  |       |       |  |      |  |     |      |  |  |       |  |  |               |     |  |  |  |     | 
|Total Capitalized Interest  |  |       | 223   |  |      |  | 49  |      |  |  | 89    |  |  |               | 9   |  |  |  | 76  | 
|                            |  |       |       |  |      |  |     |      |  |  |       |  |  |               |     |  |  |  |     | 
|Total Withheld Costs        |  |       | 2,925 |  |      |  | 913 |      |  |  | 1,170 |  |  |               | 356 |  |  |  | 486 | 
|                            |  |       |       |  |      |  |     |      |  |  |       |  |  |               |     |  |  |  |     | 



---

Capitalized Costs Relating to Oil and Gas Producing Activities (unaudited)



|                      |  |        |         |   |               |  |        |       |  |  |         |  
|--------------------- |  | ------ | ------- | - | ------------- |  | ------ | ----- |  |  | ------- | -
|($ millions)          |  | Canada |         |   | International |  |        | Total | 
|2016                  |  |        |         |  
|Proved Properties (1) |  |        | 39,916  |   |               |  | 5,237  |       |  |  | 45,153  |  
|Unproved Properties   |  |        | 653     |   |               |  | 455    |       |  |  | 1,108   |  
|                      |  |        |         |   |               |  |        |       |  |  |         |  
|                      |  |        | 40,569  |   |               |  | 5,692  |       |  |  | 46,261  |  
|Accumulated DD&A      |  |        | (26,250 | ) |               |  | (1,735 | )     |  |  | (27,985 | )
|                      |  |        |         |   |               |  |        |       |  |  |         |  
|Net Capitalized Costs |  |        | 14,319  |   |               |  | 3,957  |       |  |  | 18,276  |  
|                      |  |        |         |   |               |  |        |       |  |  |         |  
|2015                  |  |        |         |   |               |  |        |       |  |  |         |  
|Proved Properties (1) |  |        | 45,479  |   |               |  | 5,107  |       |  |  | 50,586  |  
|Unproved Properties   |  |        | 690     |   |               |  | 452    |       |  |  | 1,142   |  
|                      |  |        |         |   |               |  |        |       |  |  |         |  
|                      |  |        | 46,169  |   |               |  | 5,559  |       |  |  | 51,728  |  
|Accumulated DD&A      |  |        | (29,889 | ) |               |  | (1,409 | )     |  |  | (31,298 | )
|                      |  |        |         |   |               |  |        |       |  |  |         |  
|Net Capitalized Costs |  |        | 16,280  |   |               |  | 4,150  |       |  |  | 20,430  |  
|                      |  |        |         |   |               |  |        |       |  |  |         |  
|2014                  |  |        |         |   |               |  |        |       |  |  |         |  
|Proved Properties (1) |  |        | 43,828  |   |               |  | 4,242  |       |  |  | 48,070  |  
|Unproved Properties   |  |        | 834     |   |               |  | 400    |       |  |  | 1,234   |  
|                      |  |        |         |   |               |  |        |       |  |  |         |  
|                      |  |        | 44,662  |   |               |  | 4,642  |       |  |  | 49,304  |  
|Accumulated DD&A      |  |        | (22,996 | ) |               |  | (686   | )     |  |  | (23,682 | )
|                      |  |        |         |   |               |  |        |       |  |  |         |  
|Net Capitalized Costs |  |        | 21,666  |   |               |  | 3,956  |       |  |  | 25,622  |  
|                      |  |        |         |   |               |  |        |       |  |  |         |  



|(1) | Capitalized costs related to proved properties include ARO costs. The gross ARO for the years presented were as follows:
|--- | ------------------------------------------------------------------------------------------------------------------------



|             |  |        |       |  |               |  |     |       |  |  |       | 
|------------ |  | ------ | ----- |  | ------------- |  | --- | ----- |  |  | ----- | 
|($ millions) |  | Canada |       |  | International |  |     | Total | 
|2016         |  |        | 2,245 |  |               |  | 224 |       |  |  | 2,469 | 
|2015         |  |        | 2,389 |  |               |  | 240 |       |  |  | 2,629 | 
|2014         |  |        | 2,510 |  |               |  | 183 |       |  |  | 2,693 | 
|             |  |        |       |  |               |  |     |       |  |  |       | 



---

Oil and Gas Reserve Information

In Canada, Huskys proved crude oil, NGL and natural gas reserves are located in the provinces of Alberta, Saskatchewan, British Columbia, and offshore
East Coast of Canada. Huskys international proved reserves are located in China and Indonesia. Please note that the Bitumen reserves have been separated from Crude Oil and prior years have been restated to account for the change in disclosure
only.



|                                            |  |           |     |   |          |  |      |          |  |  |             |   |  |           |       |   |          |  |    |          |  |  |             |  |  |  |    |   |  |  |     |  
|------------------------------------------- |  | --------- | --- | - | -------- |  | ---- | -------- |  |  | ----------- | - |  | --------- | ----- | - | -------- |  | -- | -------- |  |  | ----------- |  |  |  | -- | - |  |  | --- | -
|                                            |  | Canada    |     |   | China    | 
|                                            |  | Crude Oil |     |   | Bitumen  |  |      | NGL      |  |  | Natural
Gas |   |  | Crude Oil |       |   | Bitumen  |  |    | NGL      |  |  | Natural
Gas | 
|Reserves                                    |  | (mmbbls)  |     |   | (mmbbls) |  |      | (mmbbls) |  |  | (bcf)       |   |  | (mmbbls)  |       |   | (mmbbls) |  |    | (mmbbls) |  |  | (bcf)       | 
|Net Proved Reserves(1)(2)(3)(4)             |  |           |     |   |          |  |      |          |  |  |             |   |  |           |       |   |          |  |    |          |  |  |             |  |  |  |    |   |  |  |     |  
|End of Year 2013                            |  |           | 315 |   |          |  | 323  |          |  |  | 58          |   |  |           | 1,613 |   |          |  | 7  |          |  |  |            |  |  |  | 8  |   |  |  | 295 |  
|                                            |  |           |     |   |          |  |      |          |  |  |             |   |  |           |       |   |          |  |    |          |  |  |             |  |  |  |    |   |  |  |     |  
|Revisions                                   |  |           | (2  | ) |          |  | (6   | )        |  |  | (12         | ) |  |           | 387   |   |          |  | (1 | )        |  |  |            |  |  |  | 4  |   |  |  | 80  |  
|Purchases                                   |  |           | 3   |   |          |  |     |          |  |  |            |   |  |           |      |   |          |  |   |          |  |  |            |  |  |  |   |   |  |  |    |  
|Sales                                       |  |           | (5  | ) |          |  |     |          |  |  |            |   |  |           | (1    | ) |          |  |   |          |  |  |            |  |  |  |   |   |  |  |    |  
|Improved Recovery                           |  |           | 4   |   |          |  | 11   |          |  |  |            |   |  |           |      |   |          |  |   |          |  |  |            |  |  |  |   |   |  |  |    |  
|Discoveries and Extensions                  |  |           | 19  |   |          |  | 50   |          |  |  | 6           |   |  |           | 117   |   |          |  | 1  |          |  |  |            |  |  |  |   |   |  |  |    |  
|Production                                  |  |           | (51 | ) |          |  | (18  | )        |  |  | (3          | ) |  |           | (168  | ) |          |  | (1 | )        |  |  |            |  |  |  | (2 | ) |  |  | (40 | )
|                                            |  |           |     |   |          |  |      |          |  |  |             |   |  |           |       |   |          |  |    |          |  |  |             |  |  |  |    |   |  |  |     |  
|End of Year 2014                            |  |           | 283 |   |          |  | 360  |          |  |  | 49          |   |  |           | 1,948 |   |          |  | 6  |          |  |  |            |  |  |  | 10 |   |  |  | 335 |  
|                                            |  |           |     |   |          |  |      |          |  |  |             |   |  |           |       |   |          |  |    |          |  |  |             |  |  |  |    |   |  |  |     |  
|Revisions                                   |  |           | (57 | ) |          |  | (202 | )        |  |  | (12         | ) |  |           | (490  | ) |          |  | 1  |          |  |  |            |  |  |  | 4  |   |  |  | 48  |  
|Purchases                                   |  |           |    |   |          |  |     |          |  |  |            |   |  |           | 7     |   |          |  |   |          |  |  |            |  |  |  |   |   |  |  |    |  
|Sales                                       |  |           | (4  | ) |          |  |     |          |  |  |            |   |  |           | (6    | ) |          |  |   |          |  |  |            |  |  |  |   |   |  |  |    |  
|Improved Recovery                           |  |           | 1   |   |          |  |     |          |  |  |            |   |  |           |      |   |          |  |   |          |  |  |            |  |  |  |   |   |  |  |    |  
|Discoveries and Extensions                  |  |           | 2   |   |          |  | 91   |          |  |  | 1           |   |  |           | 109   |   |          |  |   |          |  |  |            |  |  |  |   |   |  |  |    |  
|Production                                  |  |           | (46 | ) |          |  | (21  | )        |  |  | (3          | ) |  |           | (179  | ) |          |  | (3 | )        |  |  |            |  |  |  | (3 | ) |  |  | (60 | )
|                                            |  |           |     |   |          |  |      |          |  |  |             |   |  |           |       |   |          |  |    |          |  |  |             |  |  |  |    |   |  |  |     |  
|End of Year 2015                            |  |           | 180 |   |          |  | 227  |          |  |  | 35          |   |  |           | 1,389 |   |          |  | 4  |          |  |  |            |  |  |  | 11 |   |  |  | 323 |  
|                                            |  |           |     |   |          |  |      |          |  |  |             |   |  |           |       |   |          |  |    |          |  |  |             |  |  |  |    |   |  |  |     |  
|Revisions                                   |  |           | 4   |   |          |  | 42   |          |  |  | 3           |   |  |           | (23   | ) |          |  |   |          |  |  |            |  |  |  | 4  |   |  |  | 94  |  
|Purchases                                   |  |           |    |   |          |  | 3    |          |  |  |            |   |  |           | 8     |   |          |  |   |          |  |  |            |  |  |  |   |   |  |  |    |  
|Sales                                       |  |           | (50 | ) |          |  |     |          |  |  |            |   |  |           | (58   | ) |          |  |   |          |  |  |            |  |  |  |   |   |  |  |    |  
|Improved Recovery                           |  |           |    |   |          |  |     |          |  |  |            |   |  |           | 1     |   |          |  |   |          |  |  |            |  |  |  |   |   |  |  |    |  
|Discoveries and Extensions                  |  |           | 2   |   |          |  | 16   |          |  |  |            |   |  |           | 11    |   |          |  |   |          |  |  |            |  |  |  |   |   |  |  |    |  
|Production                                  |  |           | (36 | ) |          |  | (34  | )        |  |  | (3          | ) |  |           | (155  | ) |          |  | (2 | )        |  |  |            |  |  |  | (2 | ) |  |  | (39 | )
|                                            |  |           |     |   |          |  |      |          |  |  |             |   |  |           |       |   |          |  |    |          |  |  |             |  |  |  |    |   |  |  |     |  
|End of Year 2016                            |  |           | 100 |   |          |  | 254  |          |  |  | 35          |   |  |           | 1,173 |   |          |  | 2  |          |  |  |            |  |  |  | 13 |   |  |  | 378 |  
|                                            |  |           |     |   |          |  |      |          |  |  |             |   |  |           |       |   |          |  |    |          |  |  |             |  |  |  |    |   |  |  |     |  
|Net Proved Developed
Reserves(1)(2)(3)(4)   |  |           |     |   |          |  |      |          |  |  |             |   |  |           |       |   |          |  |    |          |  |  |             |  |  |  |    |   |  |  |     |  
|End of Year 2013                            |  |           | 270 |   |          |  | 62   |          |  |  | 51          |   |  |           | 1,247 |   |          |  | 7  |          |  |  |            |  |  |  | 7  |   |  |  | 275 |  
|End of Year 2014                            |  |           | 243 |   |          |  | 113  |          |  |  | 39          |   |  |           | 1,476 |   |          |  | 6  |          |  |  |            |  |  |  | 10 |   |  |  | 335 |  
|End of Year 2015                            |  |           | 167 |   |          |  | 97   |          |  |  | 32          |   |  |           | 1,116 |   |          |  | 4  |          |  |  |            |  |  |  | 11 |   |  |  | 323 |  
|End of Year 2016                            |  |           | 98  |   |          |  | 104  |          |  |  | 34          |   |  |           | 986   |   |          |  | 2  |          |  |  |            |  |  |  | 13 |   |  |  | 378 |  
|                                            |  |           |     |   |          |  |      |          |  |  |             |   |  |           |       |   |          |  |    |          |  |  |             |  |  |  |    |   |  |  |     |  
|Net Proved Undeveloped
Reserves(1)(2)(3)(4) |  |           |     |   |          |  |      |          |  |  |             |   |  |           |       |   |          |  |    |          |  |  |             |  |  |  |    |   |  |  |     |  
|End of Year 2013                            |  |           | 45  |   |          |  | 261  |          |  |  | 7           |   |  |           | 366   |   |          |  |   |          |  |  |            |  |  |  | 1  |   |  |  | 20  |  
|End of Year 2014                            |  |           | 40  |   |          |  | 247  |          |  |  | 10          |   |  |           | 472   |   |          |  |   |          |  |  |            |  |  |  |   |   |  |  |    |  
|End of Year 2015                            |  |           | 13  |   |          |  | 130  |          |  |  | 2           |   |  |           | 273   |   |          |  |   |          |  |  |            |  |  |  |   |   |  |  |    |  
|End of Year 2016                            |  |           | 2   |   |          |  | 150  |          |  |  | 1           |   |  |           | 187   |   |          |  |   |          |  |  |            |  |  |  |   |   |  |  |    |  
|                                            |  |           |     |   |          |  |      |          |  |  |             |   |  |           |       |   |          |  |    |          |  |  |             |  |  |  |    |   |  |  |     |  



---

|                                            |  |              |   |  |          |  |   |          |  |  |             |  |  |          |     |  |          |  |     |          |  |  |             |   |  |               |    |   |  |  |       |   |  |  |       |  
|------------------------------------------- |  | ------------ | - |  | -------- |  | - | -------- |  |  | ----------- |  |  | -------- | --- |  | -------- |  | --- | -------- |  |  | ----------- | - |  | ------------- | -- | - |  |  | ----- | - |  |  | ----- | -
|                                            |  | Indonesia(5) |   |  | Total(6) |  |   |          | 
|                                            |  | CrudeOil     |   |  | Bitumen  |  |   | NGL      |  |  | Natural
Gas |  |  | CrudeOil |     |  | Bitumen  |  |     | NGL      |  |  | Natural
Gas |   |  | Total
Company |   
|Reserves                                    |  | (mmbbls)     |   |  | (mmbbls) |  |   | (mmbbls) |  |  | (bcf)       |  |  | (mmbbls) |     |  | (mmbbls) |  |     | (mmbbls) |  |  | (bcf)       |   |  | (mmboe)       |   
|Net Proved
Reserves(1)(2)(3)(4)             |  |              |   |  |          |  |   |          |  |  |             |  |  |          |     |  |          |  |     |          |  |  |             |   |  |               |    |   |  |  |       |   |  |  |       |  
|End of Year 2013                            |  |              |  |  |          |  |  |          |  |  | 4           |  |  |          | 108 |  |          |  | 322 |          |  |  | 323         |   |  |               | 70 |   |  |  | 2,016 |   |  |  | 1,051 |  
|                                            |  |              |   |  |          |  |   |          |  |  |             |  |  |          |     |  |          |  |     |          |  |  |             |   |  |               |    |   |  |  |       |   |  |  |       |  
|Revisions                                   |  |              |  |  |          |  |  |          |  |  | 1           |  |  |          | 15  |  |          |  | (3  | )        |  |  | (6          | ) |  |               | (7 | ) |  |  | 482   |   |  |  | 63    |  
|Purchases                                   |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  | 3   |          |  |  |            |   |  |               |   |   |  |  |      |   |  |  | 3     |  
|Sales                                       |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  | (5  | )        |  |  |            |   |  |               |   |   |  |  | (1    | ) |  |  | (5    | )
|Improved Recovery                           |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  | 4   |          |  |  | 11          |   |  |               |   |   |  |  |      |   |  |  | 15    |  
|Discoveries and Extensions                  |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  | 20  |          |  |  | 50          |   |  |               | 6  |   |  |  | 117   |   |  |  | 96    |  
|Production                                  |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  | (52 | )        |  |  | (18         | ) |  |               | (5 | ) |  |  | (208  | ) |  |  | (110  | )
|                                            |  |              |   |  |          |  |   |          |  |  |             |  |  |          |     |  |          |  |     |          |  |  |             |   |  |               |    |   |  |  |       |   |  |  |       |  
|End of Year 2014                            |  |              |  |  |          |  |  |          |  |  | 5           |  |  |          | 123 |  |          |  | 289 |          |  |  | 360         |   |  |               | 64 |   |  |  | 2,406 |   |  |  | 1,113 |  
|                                            |  |              |   |  |          |  |   |          |  |  |             |  |  |          |     |  |          |  |     |          |  |  |             |   |  |               |    |   |  |  |       |   |  |  |       |  
|Revisions                                   |  |              |  |  |          |  |  |          |  |  |            |  |  |          | 5   |  |          |  | (56 | )        |  |  | (202        | ) |  |               | (8 | ) |  |  | (437  | ) |  |  | (339  | )
|Purchases                                   |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  |    |          |  |  |            |   |  |               |   |   |  |  | 7     |   |  |  | 2     |  
|Sales                                       |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  | (4  | )        |  |  |            |   |  |               |   |   |  |  | (6    | ) |  |  | (5    | )
|Improved Recovery                           |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  | 1   |          |  |  |            |   |  |               |   |   |  |  |      |   |  |  | 1     |  
|Discoveries and Extensions                  |  |              |  |  |          |  |  |          |  |  |            |  |  |          | 74  |  |          |  | 2   |          |  |  | 91          |   |  |               | 1  |   |  |  | 183   |   |  |  | 125   |  
|Production                                  |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  | (49 | )        |  |  | (21         | ) |  |               | (6 | ) |  |  | (239  | ) |  |  | (116  | )
|                                            |  |              |   |  |          |  |   |          |  |  |             |  |  |          |     |  |          |  |     |          |  |  |             |   |  |               |    |   |  |  |       |   |  |  |       |  
|End of Year 2015                            |  |              |  |  |          |  |  |          |  |  | 5           |  |  |          | 202 |  |          |  | 184 |          |  |  | 227         |   |  |               | 51 |   |  |  | 1,914 |   |  |  | 781   |  
|                                            |  |              |   |  |          |  |   |          |  |  |             |  |  |          |     |  |          |  |     |          |  |  |             |   |  |               |    |   |  |  |       |   |  |  |       |  
|Revisions                                   |  |              |  |  |          |  |  |          |  |  |            |  |  |          | 6   |  |          |  | 4   |          |  |  | 42          |   |  |               | 7  |   |  |  | 77    |   |  |  | 66    |  
|Purchases                                   |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  |    |          |  |  | 3           |   |  |               |   |   |  |  | 8     |   |  |  | 4     |  
|Sales                                       |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  | (50 | )        |  |  |            |   |  |               |   |   |  |  | (58   | ) |  |  | (60   | )
|Improved Recovery                           |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  |    |          |  |  |            |   |  |               |   |   |  |  | 1     |   |  |  | 1     |  
|Discoveries and Extensions                  |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  | 2   |          |  |  | 16          |   |  |               |   |   |  |  | 11    |   |  |  | 20    |  
|Production                                  |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  | (38 | )        |  |  | (34         | ) |  |               | (5 | ) |  |  | (194  | ) |  |  | (109  | )
|                                            |  |              |   |  |          |  |   |          |  |  |             |  |  |          |     |  |          |  |     |          |  |  |             |   |  |               |    |   |  |  |       |   |  |  |       |  
|End of Year 2016                            |  |              |  |  |          |  |  |          |  |  | 5           |  |  |          | 208 |  |          |  | 102 |          |  |  | 254         |   |  |               | 53 |   |  |  | 1,759 |   |  |  | 703   |  
|                                            |  |              |   |  |          |  |   |          |  |  |             |  |  |          |     |  |          |  |     |          |  |  |             |   |  |               |    |   |  |  |       |   |  |  |       |  
|Net Proved Developed
Reserves(1)(2)(3)(4)   |  |              |   |  |          |  |   |          |  |  |             |  |  |          |     |  |          |  |     |          |  |  |             |   |  |               |    |   |  |  |       |   |  |  |       |  
|End of Year 2013                            |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  | 277 |          |  |  | 62          |   |  |               | 58 |   |  |  | 1,522 |   |  |  | 651   |  
|End of Year 2014                            |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  | 249 |          |  |  | 113         |   |  |               | 49 |   |  |  | 1,811 |   |  |  | 713   |  
|End of Year 2015                            |  |              |  |  |          |  |  |          |  |  |            |  |  |          |    |  |          |  | 268 |          |  |  | 97          |   |  |               | 44 |   |  |  | 1,439 |   |  |  | 551   |  
|End of Year 2016                            |  |              |  |  |          |  |  |          |  |  | 5           |  |  |          | 133 |  |          |  | 100 |          |  |  | 104         |   |  |               | 52 |   |  |  | 1,497 |   |  |  | 506   |  
|                                            |  |              |   |  |          |  |   |          |  |  |             |  |  |          |     |  |          |  |     |          |  |  |             |   |  |               |    |   |  |  |       |   |  |  |       |  
|Net Proved Undeveloped
Reserves(1)(2)(3)(4) |  |              |   |  |          |  |   |          |  |  |             |  |  |          |     |  |          |  |     |          |  |  |             |   |  |               |    |   |  |  |       |   |  |  |       |  
|End of Year 2013                            |  |              |  |  |          |  |  |          |  |  | 4           |  |  |          | 108 |  |          |  | 45  |          |  |  | 261         |   |  |               | 12 |   |  |  | 494   |   |  |  | 400   |  
|End of Year 2014                            |  |              |  |  |          |  |  |          |  |  | 5           |  |  |          | 123 |  |          |  | 40  |          |  |  | 247         |   |  |               | 15 |   |  |  | 595   |   |  |  | 400   |  
|End of Year 2015                            |  |              |  |  |          |  |  |          |  |  | 5           |  |  |          | 202 |  |          |  | 13  |          |  |  | 130         |   |  |               | 7  |   |  |  | 475   |   |  |  | 230   |  
|End of Year 2016                            |  |              |  |  |          |  |  |          |  |  |            |  |  |          | 75  |  |          |  | 2   |          |  |  | 150         |   |  |               | 1  |   |  |  | 262   |   |  |  | 197   |  
|                                            |  |              |   |  |          |  |   |          |  |  |             |  |  |          |     |  |          |  |     |          |  |  |             |   |  |               |    |   |  |  |       |   |  |  |       |  



|(1) | Net reserves are the Companys lesser royalty, overriding royalty and working interest share of the gross remaining reserves, after deduction of any crown,
freehold and overriding royalties. Such royalties are subject to change by legislation or regulation and can also vary depending on production rates, selling prices and timing of initial production.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(2) | Reserves are the estimated remaining quantities of oil and gas and related substances anticipated to be economically producible, as of a given date, by application of
development projects to known accumulations.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(3) | Proved oil and gas reserves are those quantities of oil and gas which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to
be economically producible from a given date forward, from known reservoirs, and under existing economic conditions, operating methods and government regulations.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(4) | Proved developed oil and gas reserves are proved reserves that can be expected to be recovered: (i) through existing wells with existing equipment and operating
methods or in which the cost of the required equipment is relatively minor compared to the cost of a new well; and (ii) through installed extraction equipment and infrastructure operational at the time of the reserves estimate if the extraction
is by means not involving a well. Proved undeveloped oil and gas reserves are proved reserves that are expected to be recovered from new wells on undrilled acreage, or from existing wells where a relatively major expenditure is required for
recompletion.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(5) | Huskys beneficial interest in Indonesia and the Madura Strait Block is held by way of a 40 percent interest in Husky - CNOOC Madura Limited (HCML), an entity that is party to a PSC with the Government
of Indonesia. Husky has entered into a unanimous shareholder agreement dated April 8, 2008 with the other shareholders of HCML that provides for joint control of HCML. International Financial Reporting Standard 11, Joint Arrangements
(IFRS 11), requires Husky to follow the equity method of accounting for its investment in the Madura Strait Block. IFRS 11 focuses on the legal form of the corporate structure in which Huskys Madura assets are held. Husky holds its
interest in the Madura Strait Block through HCML and accordingly is required to use the equity method to account for this interest. As a consequence, Husky has disclosed Indonesia as a separate entity in the above disclosure because the Madura
Strait Block is accounted for by the equity method of accounting.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(6) | In addition to the major changes to proved reserves in 2016 described under Oil and Gas Reserves Disclosures - Reconciliation of Gross Proved Reserves in Document A - Annual Information Form, bitumen
reserves in Sunrise were uneconomic under SEC price forecasts as of December 31, 2015 and 2016 and account for the revisions in 2015.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---

The Companys reserve replacement ratio(1) for the last
three years was as follows:



|                                    |  |      |    |   |      |  |      |      |  |  |     |  
|----------------------------------- |  | ---- | -- | - | ---- |  | ---- | ---- |  |  | --- | -
|Net Proved Oil and Gas Reserves     |  | 2016 |    |   | 2015 |  |      | 2014 | 
|Excluding Acquisition & Divestiture |  |      | 80 | % |      |  | (184 | )%   |  |  | 159 | %
|Including Acquisition & Divestiture |  |      | 29 | % |      |  | (188 | )%   |  |  | 157 | %



|(1) | Reserve replacement ratio is calculated as net reserve additions during the period divided by total production during the period. Net reserve additions include: revisions, purchases, sales, improved recovery, and
discoveries and extensions.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves (unaudited)

The following information has been developed utilizing procedures prescribed by FASB Accounting Standards Codification 932, Extractive
Activities - Oil and Gas and is based on crude oil and natural gas reserve and production volumes estimated by the Companys reserves evaluation staff. It may be useful for certain comparison purposes, but should not be solely relied upon
in evaluating Husky or its performance. Further, information contained in the following table should not be considered as representative of realistic assessments of future cash flows, nor should the standardized measure of discounted future net cash
flows be viewed as representative of the current value of Huskys reserves.

The future cash flows presented below are based on average sales prices
and cost rates, and statutory income tax rates in existence as of the date of the projections. It is expected that material revisions to some estimates of crude oil and natural gas reserves may occur in the future, development and production of the
reserves may occur in periods other than those assumed, and actual prices realized and costs incurred may vary significantly from those used.

Management
does not rely upon the following information in making investment and operating decisions. Such decisions are based upon a wide range of factors, including estimates of probable as well as proved reserves, and varying price and cost assumptions
considered more representative of a range of possible economic conditions that may be anticipated.

The computation of the standardized measure of
discounted future net cash flows relating to proved oil and gas reserves at December 31, 2016 was based on the New York Mercantile Exchange 2016 average natural gas cash market price of U.S. $2.48/mmbtu (2015 average - U.S. $2.59/mmbtu; 2014
average - U.S. $4.35/mmbtu) and on crude oil prices computed with reference to the 2016 average WTI spot price of U.S. $42.68/bbl (2015 average - U.S. $50.20/bbl; 2014 average - U.S. $94.42/bbl). Natural gas prices for China and Indonesia reserves
are based on various Gas Sales Agreements, are included in the ASC section of the AIF, and were updated as result of price negotiations with various purchasers.



|                                                         |  |            |        |   |                   |  |        |          |  |  |        |  |  |      |       |  |      |  |       |      |  |  |       |  |  |      |        |   |  |  |        |   |  |  |        | 
|-------------------------------------------------------- |  | ---------- | ------ | - | ----------------- |  | ------ | -------- |  |  | ------ |  |  | ---- | ----- |  | ---- |  | ----- | ---- |  |  | ----- |  |  | ---- | ------ | - |  |  | ------ | - |  |  | ------ | 
|Standardized Measure                                     |  | Canada (1) |        |   | International (1) |  |        | Total(1) | 
|(unaudited)($ millions)                                  |  | 2016       |        |   | 2015              |  |        | 2014     |  |  | 2016   |  |  | 2015 |       |  | 2014 |  |       | 2016 |  |  | 2015  |  |  | 2014 |       
|Future Cash Inflows                                      |  |            | 14,423 |   |                   |  | 22,014 |          |  |  | 58,947 |  |  |      | 8,345 |  |      |  | 7,218 |      |  |  | 7,254 |  |  |      | 22,768 |   |  |  | 29,232 |   |  |  | 66,201 | 
|Future Production Costs                                  |  |            | 8,378  |   |                   |  | 11,358 |          |  |  | 21,451 |  |  |      | 1,688 |  |      |  | 1,802 |      |  |  | 1,661 |  |  |      | 10,066 |   |  |  | 13,160 |   |  |  | 23,112 | 
|Future Development Costs                                 |  |            | 7,118  |   |                   |  | 8,859  |          |  |  | 15,318 |  |  |      | 354   |  |      |  | 726   |      |  |  | 725   |  |  |      | 7,472  |   |  |  | 9,585  |   |  |  | 16,043 | 
|Future Income Taxes                                      |  |            | (395   | ) |                   |  | 400    |          |  |  | 5,686  |  |  |      | 879   |  |      |  | 667   |      |  |  | 736   |  |  |      | 484    |   |  |  | 1,067  |   |  |  | 6,422  | 
|                                                         |  |            |        |   |                   |  |        |          |  |  |        |  |  |      |       |  |      |  |       |      |  |  |       |  |  |      |        |   |  |  |        |   |  |  |        | 
|Future Net Cash Flows                                    |  |            | (678   | ) |                   |  | 1,397  |          |  |  | 16,492 |  |  |      | 5,424 |  |      |  | 4,023 |      |  |  | 4,132 |  |  |      | 4,746  |   |  |  | 5,420  |   |  |  | 20,624 | 
|Annual 10% Discount Factor                               |  |            | (1,760 | ) |                   |  | (1,241 | )        |  |  | 6,672  |  |  |      | 1,527 |  |      |  | 831   |      |  |  | 939   |  |  |      | (233   | ) |  |  | (410   | ) |  |  | 7,611  | 
|                                                         |  |            |        |   |                   |  |        |          |  |  |        |  |  |      |       |  |      |  |       |      |  |  |       |  |  |      |        |   |  |  |        |   |  |  |        | 
|Standardized Measure of Discounted Future Net Cash Flows |  |            | 1,082  |   |                   |  | 2,638  |          |  |  | 9,820  |  |  |      | 3,897 |  |      |  | 3,192 |      |  |  | 3,193 |  |  |      | 4,979  |   |  |  | 5,830  |   |  |  | 13,013 | 



|(1) | The schedules above are calculated using year average prices and year-end costs, statutory income tax rates and existing proved oil and gas reserves for 2014, 2015 and 2016. The
value of exploration properties and probable reserves, future exploration costs, future change in oil and gas prices and in production and development costs are excluded.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---

Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves
(unaudited)



|                                                                    |  |           |        |   |                  |  |         |          |  |  |        |   |  |      |       |   |      |  |        |      |  |  |       |   |  |      |        |   |  |  |         |   |  |  |        |  
|------------------------------------------------------------------- |  | --------- | ------ | - | ---------------- |  | ------- | -------- |  |  | ------ | - |  | ---- | ----- | - | ---- |  | ------ | ---- |  |  | ----- | - |  | ---- | ------ | - |  |  | ------- | - |  |  | ------ | -
|                                                                    |  | Canada(1) |        |   | International(1) |  |         | Total(1) | 
|($ millions)                                                        |  | 2016      |        |   | 2015             |  |         | 2014     |  |  | 2016   |   |  | 2015 |       |   | 2014 |  |        | 2016 |  |  | 2015  |   |  | 2014 |       
|Future discounted net cash flows at beginning of year               |  |           | 2,638  |   |                  |  | 9,820   |          |  |  | 8,496  |   |  |      | 3,192 |   |      |  | 3,193  |      |  |  | 2,999 |   |  |      | 5,830  |   |  |  | 13,013  |   |  |  | 11,495 |  
|Sales and transfer, net of production costs                         |  |           | (851   | ) |                  |  | (1,368  | )        |  |  | (4,212 | ) |  |      | (621  | ) |      |  | (1,306 | )    |  |  | (668  | ) |  |      | (1,472 | ) |  |  | (2,674  | ) |  |  | (4,880 | )
|Net change in sales and transfer prices, net of production costs    |  |           | (2,435 | ) |                  |  | (13,374 | )        |  |  | 3,257  |   |  |      | 373   |   |      |  | (115   | )    |  |  | 2     |   |  |      | (2,062 | ) |  |  | (13,489 | ) |  |  | 3,259  |  
|Development cost incurred that reduced Future develop. costs        |  |           | 705    |   |                  |  | 1,990   |          |  |  | 3,580  |   |  |      | 114   |   |      |  | 76     |      |  |  | 514   |   |  |      | 819    |   |  |  | 2,066   |   |  |  | 4,094  |  
|Changes in estimated future development costs                       |  |           | 264    |   |                  |  | 2,887   |          |  |  | (4,649 | ) |  |      | 246   |   |      |  | (35    | )    |  |  | (571  | ) |  |      | 510    |   |  |  | 2,852   |   |  |  | (5,220 | )
|Extensions, discoveries and improved recovery, net of related costs |  |           | 193    |   |                  |  | 1,164   |          |  |  | 1,872  |   |  |      |      |   |      |  | 129    |      |  |  | 53    |   |  |      | 193    |   |  |  | 1,293   |   |  |  | 1,925  |  
|Revisions of quantity estimates                                     |  |           | 300    |   |                  |  | (2,472  | )        |  |  | 1,063  |   |  |      | 1,203 |   |      |  | 644    |      |  |  | 921   |   |  |      | 1,503  |   |  |  | (1,828  | ) |  |  | 1,984  |  
|Accretion of discount                                               |  |           | 299    |   |                  |  | 1,629   |          |  |  | 856    |   |  |      | 262   |   |      |  | 356    |      |  |  | 302   |   |  |      | 561    |   |  |  | 1,985   |   |  |  | 1,158  |  
|Sale of reserves in place                                           |  |           | (573   | ) |                  |  | (93     | )        |  |  | (100   | ) |  |      |      |   |      |  |       |      |  |  |      |   |  |      | (573   | ) |  |  | (93     | ) |  |  | (100   | )
|Purchase of reserves in place                                       |  |           | 40     |   |                  |  | 4       |          |  |  | 62     |   |  |      |      |   |      |  |       |      |  |  |      |   |  |      | 40     |   |  |  | 4       |   |  |  | 62     |  
|Changes in timing of future net cash flows and other                |  |           | (128   | ) |                  |  | (231    | )        |  |  | 137    |   |  |      | (790  | ) |      |  | 367    |      |  |  | (383  | ) |  |      | (918   | ) |  |  | 136     |   |  |  | (246   | )
|Net change in income taxes                                          |  |           | 630    |   |                  |  | 2,682   |          |  |  | (542   | ) |  |      | (82   | ) |      |  | (117   | )    |  |  | 24    |   |  |      | 548    |   |  |  | 2,565   |   |  |  | (518   | )
|                                                                    |  |           |        |   |                  |  |         |          |  |  |        |   |  |      |       |   |      |  |        |      |  |  |       |   |  |      |        |   |  |  |         |   |  |  |        |  
|Net Increase (Decrease)                                             |  |           | (1,556 | ) |                  |  | (7,182  | )        |  |  | 1,323  |   |  |      | 705   |   |      |  | (1     | )    |  |  | 195   |   |  |      | (851   | ) |  |  | (7,183  | ) |  |  | 1,518  |  
|                                                                    |  |           |        |   |                  |  |         |          |  |  |        |   |  |      |       |   |      |  |        |      |  |  |       |   |  |      |        |   |  |  |         |   |  |  |        |  
|End of Year                                                         |  |           | 1,082  |   |                  |  | 2,638   |          |  |  | 9,820  |   |  |      | 3,897 |   |      |  | 3,192  |      |  |  | 3,193 |   |  |      | 4,979  |   |  |  | 5,830   |   |  |  | 13,013 |  
|                                                                    |  |           |        |   |                  |  |         |          |  |  |        |   |  |      |       |   |      |  |        |      |  |  |       |   |  |      |        |   |  |  |         |   |  |  |        |  



|(1) | The schedules above are calculated using year-end average prices and year-end costs,
statutory income tax rates and existing proved oil and gas reserves for 2014, 2015, and 2016. The value of exploration properties and probable reserves, future exploration costs, future changes in oil and gas prices and in production and development
costs are excluded.
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