BUSINESS UPDATE June 2025 Important Disclaimers The contents of this presentation are not to be construed as legal, regulatory, business, accounting or tax advice. You should consult your own attorney, business advisor, accountant and tax advisor as to legal, regulatory, business, accounting and tax advice. This presentation has been prepared exclusively for the internal confidential use of the recipient only. This presentation is confidential. Any reproduction of distribution of this presentation, in whole ...

Core Insights - Cenovus Energy Inc. has resumed full production at its Christina Lake oil sands facility after a temporary shutdown due to wildfire threats, with operations returning to normal levels as of June 12 [1][9] - The company confirmed that no infrastructure was damaged during the wildfire activity, attributing the smooth recovery to its emergency response protocols and the efforts of frontline workers [2][9] - Christina Lake is recognized as a high-performing asset for Cenovus, utilizing steam-assisted gravity drainage technology, contributing significantly to production growth and cost leadership [4][9] Company Operations - Cenovus operates upstream production assets across Canada and the Asia Pacific, alongside upgrading, refining, and marketing operations in Canada and the U.S., positioning itself as one of North America's most diversified energy producers [6] - The company remains focused on maximizing long-term value through cost efficiency, operational excellence, and responsible resource development [6] Market Implications - The quick restoration of output at Christina Lake is viewed positively by investors, especially as Canadian oil sand producers face scrutiny over operational resilience amid climate-related disruptions [5][9]