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Tamarack Valley Energy Ltd | June 2015 Corporate Presentation | Brian Schmidt | Page 3 of 11 | November 21, 2024

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3 Key Points in this Presentation • Wilson Creek acquisition – Sustainable growth at low oil prices • Impressive acquisition metrics • Eliminates the budgeted non-drilling capital by adding key infrastructure • Adds 70 drill locations, 40 of which have 1 year payback at $60/bbl Edmonton Par • Creates a large contiguous block of land that facilitates more superior economical long reach wells • Simply following a clear strategic response to declining oil price • With iron parked over break-up capital costs are down 20% to get it working again • Operating costs are down 55% in Wilson Creek from mid-2014 levels • Hedges are in place to protect ROR on new production that will come on Q4/15 • Tamarack has demonstrated top decile ROR on its inventory • Recent studies identified TVE as top ROR Cardium oil driller, achieving returns in the top decile in Western Canada • Result? Payback is 1.5 years or less – same as pre-oil price downturn • Downturn strategy is being followed the way we outlined in November 2014 • With over 5 years of quick payback inventory Tamarack has the option to • Grow with the drill bit; or • If opportunity presents, divert capital to accretive acquisitions