ABOUT RESPONSIBILITY OPERATIONS INVESTORS CONTACT US Strategy Growth orientation, environmental focus Advantage Energy Ltd. is a growth-oriented corporation focused entirely on development of its significant position in the Montney natural gas and liquids resource play. The Corporation’s common shares trade on the Toronto Stock Exchange under the symbol AAV with its head office in Calgary, Alberta, Canada. Advantage’s Montney assets are located from approximately 4 – 80km northwest of the city of Grande Prairie, Alberta. Advantage’s land holdings consist of 210 net sections (134,400 acres) of liquids-rich Montney lands at Glacier, Valhalla, Progress and Pipestone/Wembley. Management estimates a future drilling inventory of >1,400 horizontal well locations. Total estimated capital expenditures over the life of the project could exceed $10 billion with associated reserves and production growth. Production has grown to 45,000 boe/d. Why Advantage Proudly producing low-emissions, low-cost Canadian energy, for the world Intermediate, focused Montney producer with commanding infrastructure base Uniquely positioned to generate shareholder wealth and achieve net-zero emissions Clean, sustainable energy State of the art emissions engineering High quality light oil Exit liquids rate 4,500 bbls/d Prolific gas foundation Free cash funds liquids program Low cost owned infrastructure Two new oil batteries, existing gas plant Resilient in all cycles Balanced commodities, market exposure Disciplined financial management Pace of development driven by balance sheet | About | Responsibility | Operations | Investors | Contact Us | © Copyright 2021 Advantage Energy Ltd. All Rights Reserved. Site by Iradesso Toggle Sliding Bar Area

ABOUT RESPONSIBILITY OPERATIONS INVESTORS CONTACT US Analysts Analyst Coverage BMO Mike Murphy & Ray Kwan CIBC Jamie Kubik Cormark Securities Inc. Garett Ursu Desjardins Capital Markets Christopher MacCulloch National Bank Financial Dan Payne Paradigm Capital Adam Gill Peters & Co. Limited Dan Grager Raymond James Jeremy McCrea RBC Capital Markets Michael Harvey Scotiabank Cameron Bean Stifel FirstEnergy Robert Fitzmartyn TD Securities Aaron Bilkoski Tudor, Pickering, Holt & Co Jenna Weir & Matt Murphy Presentations and Events Financial Reports News Releases Commodity Markets & Hedging Analysts ESTMA | About | Responsibility | Operations | Investors | Contact Us | © Copyright 2021 Advantage Energy Ltd. All Rights Reserved. Site by Iradesso Toggle Sliding Bar Area