Perpetual Energy Inc. Corporate Presentation - September 2021

September 2021 Corporate Presentation

Rubellite Transactions - July 19, 2021 Webcast Presentation

July 19, 2021 Webcast Presentation

Certain information in this presentation may constitute forward-looking information or statements with respect to Perpetual and/or Rubellite (together "forward-looking information") under applicable securities laws. The forward-looking information includes, without limitation, statements with respect to: Rubellite's organic growth plan and its ability to unlock free funds flow, accelerate investment, expand exploration, pursue acquisitions and return value to shareholders; the repositioning of Perpetual to realize the inherent value in its asset base and its improved liquidity for investment in drilling and other value-enhancing opportunities; the impact of new venture opportunities and enhanced corporate netbacks and G&A cost savings; the exposure to rallying commodity prices; the anticipated benefits of various transactions to Perpetual's shareholders, including the expected ability of Perpetual to fund its future drilling and development programs and an expected resumption of growth in shareholder value; the anticipated reduction of net debt and future bank debt levels; the anticipated cost savings and the expected uses thereof; the anticipated net cash proceeds to Perpetual; the characteristics and plans in respect of the Clearwater assets; the anticipated amount and components of Rubellite's equity financings and the timing thereof; expectations with respect to Perpetual's management of Rubellite under the Management Services Agreement; anticipated growth in the Clearwater play; the expectations related to the funding of drilling through the GORR financing; development plans for the Clearwater assets and the anticipated costs thereof; the anticipated values of the five-year indicative development plan and anticipated inventory levels; the anticipated effect on Perpetual's First Lien Revolving Bank Line, Second Lien Term Loan and Third Lien Senior Notes; the expected production and operating income generated net to Perpetual; Perpetual's anticipated reserve-based net asset value (post the Rubellite transactions) and reserve and prospect inventory-based net asset values; anticipated capital spending; forecasted asset retirement activity; the anticipated terms of the extension of Perpetual's revolving bank debt facility and the timing thereof; the anticipated financial position of Perpetual at the close of the transactions; expectations respecting Perpetual's and Rubellite's future exploration, development and drilling activities; the anticipated focus of Perpetual's business plan following the completion of the transactions and other similar statements.

Statements relating to "reserves" and "resources" are also deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves or resources described exist in the quantities predicted or estimated and that the reserves or resources can be profitably produced in the future. Actual reserves may be greater than or less than the estimates provided herein. The estimated future net revenue from the production of the disclosed oil, natural gas liquids and natural gas reserves does not represent the fair market value of these reserves.
Forward-looking information is based on current expectations, estimates and projections that involve a number of known and unknown risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Perpetual and described in the forward-looking information contained in this presentation. In particular and without limitation of the foregoing, material factors or assumptions on which the forward-looking information in this presentation is based include: the successful completion of the Rubellite financings; the ability of Perpetual to continue as a going concern in the event the financings are not completed; the ability of Rubellite to successfully operate the Clearwater assets; forecast commodity prices and other pricing assumptions; forecast production volumes based on business and market conditions; foreign exchange rates; near-term pricing and continued volatility of the market; Rubellite's and Perpetual's business plan and continued operations; estimates of quantities of crude oil from properties and other sources not currently classified as proved; accounting estimates and judgments; future use and development of technology and associated expected future results; the ability to obtain regulatory approvals; the successful and timely implementation of capital projects; ability to general sufficient adjusted funds flow to meet current and future obligations; estimated abandonment and reclamation costs, including associated levies and regulations applicable thereto; Rubellite's ability to operate under the management of Perpetual pursuant to the Management Services Agreement; the ability of Rubellite and Perpetual to obtain and retain qualified staff and equipment in a timely and cost-efficient manner, as applicable; the retention of key properties; forecast inflation and other assumptions inherent in Perpetual's current guidance and estimates; the continuance of existing tax, royalty, and regulatory regimes; the accuracy of the estimates of reserves volumes; ability to access and implement technology necessary to efficiently and effectively operate assets; and the ongoing and future impact of ongoing litigation and the coronavirus on commodity prices and the global economy, among others.
Undue reliance should not be placed on forward-looking information, which is not a guarantee of performance and is subject to a number of risks or uncertainties, including without limitation those described herein and under "Risk Factors" in Perpetual's Annual Information Form and MD&A for the year ended December 31, 2020 and in other reports on file with Canadian securities regulatory authorities which may be accessed through the SEDAR website ( and at Perpetual's website ( Readers are cautioned that the foregoing list of risk factors is not exhaustive. Forward-looking information is based on the estimates and opinions of Perpetual's management at the time the information is released, and Perpetual disclaims any intent or obligation to update publicly any such forward-looking information, whether as a result of new information, future events or otherwise, other than as expressly required by applicable securities law.