MEG Energy Corp.

Equities

MEG

CA5527041084

Oil & Gas Exploration and Production

Market Closed - Toronto S.E. Other stock markets 04:00:00 2024-05-10 pm EDT			5-day change	1st Jan Change
31 ^CAD	-1.77%		+0.75%	+30.97%

May. 08	News Highlights : Top Energy News of the Day - Wednesday at 4 PM ET	DJ
May. 08	News Highlights : Top Energy News of the Day - Wednesday at 11 AM ET	DJ

MEG Energy : 2023 ESG Performance Data Report (Including SASB Index & TCFD Index)

September 14, 2023 at 08:03 pm EDT

ESG

Performance

Data (EPD)

Report

2023

TSX | MEG

HOME ESG PERFORMANCE DATA TABLE SASB INDEX FOOTNOTES TCFD INDEX UN SDG ASSURANCE STATEMENTS GLOSSARY FORWARD-LOOKING INFORMATION

Contents

Land Acknowledgement		TCFD Index	17
ESG Performance Data Table	1	United Nations Sustainable Development Goals	19
SASB Index	9	Assurance Statements	21
Footnotes	15

Land Acknowledgement

At MEG, we provide land acknowledgements to show gratitude and appreciation to the Indigenous communities who have lived on Turtle Island since time immemorial. Along with a deep understanding of its context, history and meaning, making a land acknowledgment is a small but important first step in the reconciliation process between all treaty people.

Regional Land Acknowledgements

Glossary of Terms & Abbreviations	27
Forward-Looking Information	30

Our Head Office is in Calgary

We acknowledge the traditional Treaty 7 territory of the Blackfoot Confederacy: Siksika, Kainai, Piikani, as well as the Îyâxe Nakoda and Tsuut'ina nations. We are situated on the land where the Bow River meets the Elbow River, and the traditional Blackfoot name of this place is "Mohkinstsis" which we now call the City of Calgary. We acknowledge that this territory is home to the Métis Nation of Alberta, Region 3 within the historical Northwest Métis homeland.

Our Site Operations are at Christina Lake

We acknowledge Treaty 8 territory - the traditional and ancestral territory of the Cree and Dene. We acknowledge that this territory is home to the Métis Settlements and the Métis Nation of Alberta, Regions 1, 4, 5 and 6 within the historical Northwest Métis Homeland. We acknowledge the many First Nations, Métis and Inuit who have lived in and cared for these lands for generations.

Calgary, Alberta

Christina Lake, Alberta

MEG ENERGY | 2023 Performance Report

HOME ESG PERFORMANCE DATA TABLE SASB INDEX FOOTNOTES TCFD INDEX UN SDG ASSURANCE STATEMENTS GLOSSARY FORWARD-LOOKING INFORMATION

ESG Performance Data Table

Metric

Units

2018

2019

2020

2021

2022

GRI

SASB

Footnote

Activity

Production of: (1) oil	bbl/day	87,731	93,082	82,441	93,733	95,338	EM-EP-000.A

Production of: (2) natural gas	bbl/day	0	0	0	0	0	EM-EP-000.A

Production of: (3) synthetic oil	bbl/day	0	0	0	0	0	EM-EP-000.A

Production of: (4) synthetic gas	bbl/day	0	0	0	0	0	EM-EP-000.A

Number of offshore sites	count	0	0	0	0	0	EM-EP-000.B

Number of terrestrial sites	count	1	1	1	1	1	EM-EP-000.C

Economic

Steam-oil Ratio	bbl of steam/bbl of bitumen	2.19	2.22	2.32	2.43	2.36

Common Shares Outstanding	millions	297	300	303	307	291

Market capitalization	$ millions	2,289	2,213	1,347	3,590	5,487	102-7	EC-1

Gross sales	$ millions	2,771	3,976	2,301	4,397	6,343		EC-2

Adjusted funds flow	$ millions	175	724	281	826	1,934		EC-3

Annual capital investments	$ millions	622	198	149	331	376	201-1	EC-4

Operating expenses	$ millions	210	238	232	309	420		EC-5

Total assets	$ millions	8,410	7,866	7,224	7,593	7,033	102-7

Royalties, taxes and fees	$ millions	38	45	9	76	225	201-1	EC-6

Net debt to capitalization ratio		45	43	44	37	23	102-7	EC-7

Debt to capitalization ratio		49	45	45	42	26	102-7	EC-8

MEG ENERGY | 2023 Performance Report

HOME ESG PERFORMANCE DATA TABLE SASB INDEX FOOTNOTES TCFD INDEX UN SDG ASSURANCE STATEMENTS GLOSSARY FORWARD-LOOKING INFORMATION

ESG Performance Data Table

Metric

Units

2018

2019

2020

2021

2022

GRI

SASB

Footnote

Climate Change & GHG Emissions

Direct GHG emissions (Scope 1)	tonnes CO2e	2,140,537	2,304,490	2,113,450	2,439,106	2,368,081	305-1	EM-EP-110a.1	GHG-1,GHG-2
(1) Scope 1 by GHG Type - CO2	tonnes CO2	2,119,323	2,286,737	2,100,396	2,420,766	2,347,212	305-1		GHG-2
(2) Scope 1 by GHG Type - CH4	tonnes CH4	543	377	218	396	480	305-1		GHG-3
(3) Scope 1 by GHG Type - N2O	tonnes N2O	26	28	26	28	29	305-1
Amount of Gross Global Scope 1 Emissions from:

(1) flared hydrocarbons	tonnes CO2e		8,325	6,708	7,362	10,157	305-1	EM-EP-110a.2	GHG-4
(2) other combustion	tonnes CO2e		2,289,787	2,103,994	2,424,749	2,351,077	305-1	EM-EP-110a.2	GHG-1
(3) Process emissions	tonnes CO2e		N/A	N/A	N/A	N/A	305-1	EM-EP-110a.2	GHG-5
(4) other vented emissions	tonnes CO2e		867	512	4,510	2,502	305-1	EM-EP-110a.2	GHG-1,GHG-6
(5) fugitive emissions	tonnes CO2e		5,510	2,236	2,427	4,346	305-1	EM-EP-110a.2	GHG-1,GHG-7
Percentage methane	%		0.41	0.26	0.41	0.51		EM-RM-110a.1	GHG-8

Percentage covered under emission-limiting	%		100	100	100	100		EM-MM-	GHG-9
regulations			110a.1


Indirect GHG Emissions (Scope 2)	tonnes CO2e	20	0	16	0	383	305-2		GHG-10
Bitumen GHG Emissions Intensity	kg CO2e/bbl	56	57	59	60	58	305-4
Electricity GHG Emissions Intensity	kg CO2e/MWh	353	350	351	361	362	305-4

MEG ENERGY | 2023 Performance Report

HOME ESG PERFORMANCE DATA TABLE SASB INDEX FOOTNOTES TCFD INDEX UN SDG ASSURANCE STATEMENTS GLOSSARY FORWARD-LOOKING INFORMATION

ESG Performance Data Table

Metric

Units

2018

2019

2020

2021

2022

GRI

SASB

Footnote

Water & Wastewater Management

Total water withdrawal	thousand m3	1,134	653	660	736	622	303-3		W-6

Water withdrawal by type:

(1)	Non-saline water withdrawal	thousand m3	986	583	512	557	608	303-3	EM-EP-140a.1	W-1

(2)	Saline water withdrawal	thousand m3	148	71	148	180	14	303-3		W-8

Water withdrawal by source:

(1)	Surface water withdrawal	thousand m3	134	53	33	79	81	303-3		W-2

(2)	Groundwater withdrawal	thousand m3	1,000	600	626	657	540	303-3		W-3,W-7

Total Non-Saline Water Consumed	thousand m3		36	30	47	57	303-3	EM-EP-140a.1	W-12

Recycled Water - percentage recycled	%	93	96	96	96	97	303-3		W-5

Produced Water Volume	thousand m3	11,627	13,244	12,458	14,907	15,030	303-3	EM-EP-140a.2	W-4

(1) percentage discharged	%	0	0	0	0	0		EM-EP-140a.2

(2) percentage injected	%	100	100	100	100	100		EM-EP-140a.2

(3) percentage recycled	%	90	88	86	87	85		EM-EP-140a.2

(4) hydrocarbon content in discharged water	tonnes	N/A	N/A	N/A	N/A	N/A		EM-EP-140a.2	W-13

Total Make-up water withdrawal:	thousand m3	905	543	568	593	622	303-3

(1)	Saline make-up water withdrawal	thousand m3	148	71	148	180	14	303-3		W-8

(2)	Non-salinemake-up water withdrawal	thousand m3	756	472	421	413	456	303-3		W-1,W-9

Total make-up water intensity	m3/m3 oil production	0.18	0.10	0.12	0.11	0.09			W-10

Non-salinemake-up water intensity	m3/m3 oil production	0.15	0.09	0.09	0.08	0.08			W-11

MEG ENERGY | 2023 Performance Report

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MEG Energy Corp. published this content on 14 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 September 2023 00:02:08 UTC.

Latest news about MEG Energy Corp.

News Highlights : Top Energy News of the Day - Wednesday at 4 PM ET	May. 08	DJ
News Highlights : Top Energy News of the Day - Wednesday at 11 AM ET	May. 08	DJ
MEG Energy Corp. Approves Election of Robert R. Rooney as Director	May. 07	CI
Transcript : MEG Energy Corp. - Shareholder/Analyst Call	May. 07
MEG Energy's Sector Perform Rating, $37 Price Target Maintained by National Bank of Canada	May. 07	MT
MEG Energy Maintained at Buy at TPH Following First-Quarter Results; Price Target at C$40.00	May. 07	MT
Transcript : MEG Energy Corp., Q1 2024 Earnings Call, May 07, 2024	May. 07
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MEG Energy Brief: Says Bitumen production averaged Near 104,000 barrels per day In Q1, and $217 million of free cash flow supported Repurchase of 4.7 million shares and $142 million of debt redemption	May. 06	MT
MEG Energy Brief: Q1 Funds flow from operating activities and adjusted funds flow of $329 million, or $1.19 per share	May. 06	MT
MEG Energy Brief: 2024 operating and capital guidance remains unchanged	May. 06	MT
MEG Energy Brief: Q1 Per share, diluted $0.36	May. 06	MT
MEG Energy Corp. Reports Earnings Results for the First Quarter Ended March 31, 2024	May. 06	CI
Meg Energy Corp. Announces Consolidated Operating Results for the First Quarter Ended March 31, 2024	May. 06	CI
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Reliance buys its first Canadian crude from Trans Mountain pipeline, sources say	Apr. 29	RE
With oil set to flow, what next for Canada's Trans Mountain pipeline expansion?	Apr. 29	RE
MEG Energy Maintained at Buy at TPH Ahead of First-Quarter Results; Price Target at C$40.00	Apr. 23	MT
RBC Capital Markets Details Bitumen Production In Alberta For February	Mar. 26	MT
CIBC Raises Price Target on 6 Canadian Energy Stocks	Mar. 22	MT
MEG Energy Corp. announces an Equity Buyback for 24,007,526 shares, representing 8.82% of its issued share capital.	Mar. 06	CI
MEG Energy Brief: Bid will become effective on March 11, 2024 and will terminate on March 10, 2025 or such earlier time as the Bid is completed or terminated at the option of MEG	Mar. 06	MT
MEG Energy Brief: Co will purchase for cancellation, from time to time, as it considers advisable, up to a maximum of 24,007,526 common shares of the Corporation	Mar. 06	MT
MEG Energy Brief: Received TSX Approval for Renewal of Normal Course Issuer Bid	Mar. 06	MT
MEG Energy Corp. authorizes a Buyback Plan.	Mar. 05	CI

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Company Profile

MEG Energy Corp. is a Canada-based energy company focused on sustainable in-situ thermal oil production in the southern Athabasca region of Alberta, Canada. The Company is engaged in the development of enhanced oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the responsible economic recovery of oil, as well as lower carbon emissions. It transports and sells thermal oil (AWB) to customers throughout North America and internationally. The Company owns a 100% interest in over 410 square miles of mineral leases in the southern Athabasca oil region of Alberta, Canada and is primarily engaged in sustainable in situ thermal oil production at its Christina Lake Project. Christina Lake Project is a multi-phased project, located 150 kilometers south of Fort McMurray in northeast Alberta. It comprised of approximately 200 square kilometers of leases.

Sector

Oil & Gas Exploration and Production

Calendar

2024-07-24 - Q2 2024 Earnings Release

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