CO2 Sequestered YTD 1,819,978.618 Tonnes Dec 01, 2021 03:35 PM wcp News Contact About Whitecap Sustainability Operations Investors Careers RESERVE INFORMATION Summary of 2020 Reserves (Whitecap prior to NAL & TORC Combinations) Reserves as of December 31, 2020 Company Share Reserves Description Oil (Mbbl) Gas (MMcf) NGL (Mbbl) Total (Mboe) Proved producing Proved non-producing Proved undeveloped 168,516 1,882 113,536 167,172 1,897 164,887 12,362 89 11,214 208,740 2,287 152,232 Total Proved Probable 283,934 102,298 333,956 173,483 23,665 12,816 363,259 144,028 Total Proved plus Probable 386,233 507,439 36,481 507,287 Net Present Values Summary of Before Tax Net Present Values (Forecast Pricing) As at December 31, 2020 Before Tax Net Present Value ($MM) (1) Discount Rate Description 0% 5% 10% 15% 20% Proved producing Proved non-producing Undeveloped 2,680 57 1,970 2,472 39 1,093 2,013 29 608 1,679 23 323 1,444 18 148 Total proved Probable 4,707 4,271 3,603 2,196 2,649 1,359 2,025 937 1,610 693 Total proved plus probable 8,978 5,799 4,008 2,962 2,303 (1) Includes abandonment and reclamation costs as defined in NI 51-101 for all of our facilities, pipelines and wells including those without reserves assigned. RESERVES EVALUATION (NAL & TORC) NAL Summary of Reserves Reserves as at December 31, 2020 company share reserves Description Oil (Mbbl) Gas (MMcf) NGL (Mbbl) Total (Mboe) Proved producing Proved non-producing Undeveloped 15,505 - 1,340 149,020 3,655 2,600 9,783 80 319 50,125 690 2,092 Total proved Probable 16,844 4,697 155,275 39,435 10,182 2,493 52,906 13,762 Total proved plus probable 21,541 194,710 12,675 66,668 NAL Net Present Values Summary of Before Tax Net Present Values (Forecast Pricing) as at December 31, 2020 Before Tax Net Present Value ($MM) (1) Discount Rate Description 0% 5% 10% 15% 20% Proved producing Proved non-producing Undeveloped 16 3 19 269 2 13 282 1 8 263 - 5 241 - 3 Total proved Probable 39 235 283 151 291 107 268 82 244 66 Total proved plus probable 273 434 398 350 310 (1) Includes abandonment and reclamation costs as defined in NI 51-101 for all of the facilities, pipelines and wells including those without reserves assigned TORC Summary of Reserves Reserves as at December 31, 2020 company share reserves Description Oil (Mbbl) Gas (MMcf) NGL (Mbbl) Total (Mboe) Proved producing Proved non-producing Undeveloped 38,301 2,711 22,563 37,117 3,897 30,670 2,953 218 1,929 47,441 3,578 29,604 Total proved Probable 63,575 37,048 71,684 50,427 5,100 3,190 80,622 48,642 Total proved plus probable 100,623 122,112 8,290 129,265 TORC Net Present Values Summary of Before Tax Net Present Values (Forecast Pricing) as at December 31, 2020 Before Tax Net Present Value ($MM) (1) Discount Rate Description 0% 5% 10% 15% 20% Proved producing Proved non-producing Undeveloped 426 69 388 550 52 237 508 41 143 453 34 83 407 28 45 Total proved Probable 883 1,122 840 685 692 460 570 331 480 250 Total proved plus probable 2,006 1,524 1,152 901 730 (1) Includes abandonment and reclamation costs as defined in NI 51-101 for all of the facilities, pipelines and wells including those without reserves assigned Profitably Converting PDP Reserves to Cashflow RECYCLE RATIO is a key measure of profitability in the oil and gas industry. The ratio is calculated by dividing the profit per barrel of oil by the cost of finding and developing the barrel of oil. Whitecap focuses on PDP recycle ratio as this reflects whether we are generating sufficient cashflow to replace the barrels we are producing, and therefore can grow economically through internally generated cashflow. Sustainable Reserves Growth Click here for full details and disclaimers on our 2020 year end reserves Headquarters 403-266-0767 3800, 525 - 8th Avenue SW Eighth Avenue Place, East Tower Calgary, Alberta, Canada T2P 1G1 Emergency 1-866-590-5289 © 2021 Whitecap Resources Inc. Privacy / Legal