Peyto Exploration & Development Investor Presentation — August 2021

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Exploration & Development Corp.

Regarding Forward- Looking Statements

Exploration & Development Corp.

8/9/2021New To Peyto?

www.Peyto.comN5thLargest Canadian Gas Producer > 540 MMcfe /d

N11thLargest Canadian Gas Processor 875 MMcf/d capacity

NPure Play Alberta Deep Basin –Multizone stacked resource, 5 TCFe 2P reserves

NLong Reserve Life Asset -9yr PDP, 27yr 2P, sweet gas, no mobile water risk

NReturns Focused Strategy -Avg ROCE 15%, ROE 26% over last 22yrs

NLowest Cost Producer - $1.01/mcfe ($6.09/boe ) 2020 total cash costs*

NOwn and Control –Operate 99% of production, Own/operate 10 gas plants

Quarterly Dividend: $0.01/share ( CTD YE20 $19.34/share )

Shares O/S: 165 million (3% insider ownership)

Q2/21 Net Debt: $415 million (senior secured notes, 3.7- 4.9%CND)

$732 million ($0.95B secured bank facility)

$1.15B ($1.365B total capacity)

Enterprise Value: $2.3 billion ($7.00/share)

Full Time Employees: 55

*Cash costs are royalties, operating costs, transportation, G&A and interest

Reserve Life based on Q4 2020 production rate of 83,461 boe/d

BOE factor –6 mcf = 1 bblof oil equivalent

Exploration & Development Corp.

20 Year Growth Per Share

Historical Per Share (or unit) and Shares (units) Outstanding numbers have been adjusted to reflect the May 27, 2005 2:1 stock split

BOE factor -6 mcf = 1 bbl of oil equivalentPEYTO

Exploration & Development Corp.