Saturn Oil & Gas Inc. · TSX:SOIL
Saturn Oil & Gas — Corporate Update (December 2025)
14 slides from Saturn Oil & Gas's corporate update, December 2025
Slide 1: 2026 Guidance Presentation
OTCQX: OILSF TSX: SOIL 2026 Guidance Presentation December 2025 PRESENTATION
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements All forward-looking statements are based on Saturn's beliefs government policy changes; uncertainties associated with and assumptions based on information available at the time credit facilities and counterparty credit risk; and changes in This presentation is f
Slide 3: Applying Our Blueprint for Value Creation
Applying Our Blueprint for Value Creation Simple Blueprint Saturn Follows to Enhance Size, Scale and Production Per Share Metrics 01. Acquire 02. Optimize 03. Reduce 04. Repeat Net Debt Acquire Optimize Reduce Net Debt Repeat mid-life cycle assets at to reduce costs, improve targeting ≤1.0x net debt
Slide 4: Budget Overview: Disciplined, Nimble & Free Funds Flow Focused
Budget Overview(1): Disciplined, Nimble & Free Funds Flow Focused Prudent Budget Designed to Support Ongoing Debt Repayment, Value Preservation and Maintain Agility Budgeting up to ~$185 MM ~40,000 boe/d 33% for OHML Development capital expenditures Mid-point of 2026 forecast High-return & capital e
Slide 5: 2026 Budget & Guidance Details
2026 Budget & Guidance Details Current Price Environment Drives Conservative Approach and Focus on Free Funds Flow 2026 Guidance5,6 Development capital expenditures2,5 $MM $180 - $190 SENSITIVITIES Annual Average Production1 Boe/d 39,000 - 41,000 Factor Change Approximate AFF(2)(6) Impact Oil & Liqu
Slide 6: 2026 Development Highlights: SE SK OHML Program
2026 Development Highlights: SE SK OHML Program Saturn is the Leading Developer of OHML Technology in Saskatchewan 32 OHML planned > 300 OHML locations up to 33% of 2026 development Open Hole locations in 2026 identified in SE SK capital allocated to OHML • Saturn is a leading developer of OHML well
Slide 7: 2026 Development Highlights: SE SK Conventional Program
2026 Development Highlights: SE SK Conventional Program Conventional Development Program Provides Flexibility with Strong Returns 23 Conventional > 550 Conventional Locations #1 returns Highest ranked plays in #1 Most capital efficient well Saturn drilled in ’25 wells planned Identified in SE SK Sat
Slide 8: Waterflood Program: Creelman Expansion
Waterflood Program: Creelman Expansion Progressing Secondary Recovery, Re-Pressurizing Infill Drilling and Supporting Sustainability Initial Creelman Development • 18.5 sections of 100% WI land adjacent to existing waterflood • 70 MMbbls OOIP, 5% increased waterflood recovery, plus up to 40 re-press
Slide 9: 2026 Development Highlights: AB Cardium
2026 Development Highlights: AB Cardium Innovative Longer Laterals and Multi-Pad Development Boost Economics & Capital Efficiencies Saturn’s Cardium Approach E X TE NDE D RE A C H MU L TI W E L L P A D DE VE L OP ME N T A T W E S T P E MB I NA • Enhancing the Cardium inventory value by adopting new
Slide 10: The Saturn Investment Opportunity
The Saturn Investment Opportunity (TSX: SOIL) High-Quality Light Oil Weighted Assets, Free Funds Flow Generation and Per Share NAV Disconnect 01. 02. 03. Diversified Downside Compelling Asset Base Protection Upside • >80% weighted to high-value • Discounted valuation + higher • Potential for rerate
Slide 11: Head Office
TSX: SOIL | OTCQX: OILSF Head Office Saturn Oil & Gas Inc. Suite 2800, 525 – 8th Ave SW Calgary, AB T2P 1G1 info@saturnoil.com 403.268.7800 SATURN OIL + GAS | PRESENTATION TSX: SOIL | OTCQX: OILSF 11
Slide 12: Disclaimer: Oil & Gas Advisories
Disclaimer Oil & Gas Advisories Capital Expenditures working capital, decommissioning expenditures and Information Regarding Disclosure on Oil and Gas Operational Saturn uses development capital expenditures to monitor transaction costs. Management believes that this measure Information and Non-IFRS
Slide 13: Disclaimer: Oil & Gas Advisories
Disclaimer Oil & Gas Advisories Annualized Proforma Adjusted Funds Flow Operating Netback and Operating Netback, Net of nine months ended September 30, 2025, for additional at the midpoint of the guidance range is anticipated to be Annualized proforma adjusted funds flow is calculated by Derivatives
Slide 14: Disclaimer: Oil & Gas Advisories
Disclaimer Oil & Gas Advisories Oil and Gas Metrics & Reserve "FD&A Cost" represents finding, developing and acquisition "Probable" reserves are those additional reserves that are Reserve Assumptions: Reserve evaluation calculations are cost as calculated as the sum of 2024 capital expenditures less