Questerre Energy (QEC) Pareto Securities' 31st annual Energy Conference Presentation summary

Clean tech and low-emission strategy

• Focus on responsible hydrocarbon development using clean technologies and carbon capture to support sustainable energy transition.

• Low-emission industrial hubs are being developed globally, integrating hydrogen, carbon recycling, and storage.

• Questerre is exploring partnerships, including with First Nations in Alberta, to develop such hubs.

Key assets and resource potential

• St. Lawrence Lowlands, Quebec: 7 Tcf gas resource (1.6 Tcf risked contingent), with potential to meet up to 50% of Germany's Russian gas imports.

• Western Alberta: Condensate-rich Montney play with strong economics and production growth potential.

• SE Saskatchewan/SW Manitoba: Tight oil production with strong netbacks.

• Utah and Jordan: Large oil shale resources, with 7.8 billion barrels unrisked discovered in Jordan.

Financial and operational highlights (Q2 2024)

• Funds flow from operations: $4.5 million; capital expenditures: $7.0 million; working capital surplus: $27.6 million.

• Market capitalization: $90 million; daily production: 1,559 boe/d (60% oil/liquids); operating netback: $36.75/boe.

• Credit facility of $16 million remains undrawn.