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Athabasca Oil Announces 2022 Second Quarter Results including Record $85 million of Adjusted Funds Flow, $167 million in Debt Redemptions, and Increased Corporate Guidance

Athabasca Oil Announces 2022 Second Quarter Results including Record $85 million of Adjusted Funds Flow, $167 million in Debt Redemptions, and Increased Corporate Guidance
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Athabasca Oil Announces 2022 First Quarter Results including Record $44 million Free Cash Flow, $110 million in Debt Redemptions and releases its Annual ESG Report

Athabasca Oil Announces 2022 First Quarter Results including Record $44 million Free Cash Flow, $110 million in Debt Redemptions and releases its Annual ESG Report
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Athabasca Oil Announces 2022 First Quarter Results including Record $44 million Free Cash Flow, $110 million in Debt Redemptions and releases its Annual ESG Report

Athabasca Oil Announces 2022 First Quarter Results including Record $44 million Free Cash Flow, $110 million in Debt Redemptions and releases its Annual ESG Report
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United statesKaybob duvernayCarlos fierroMatthew taylorRobert broenAnne downeyAngela averyMarty proctorGenerations energyEntropy incLight oil operating netbackLight oilAthabasca light oil netbacksAudit committeeLight oil segmentsGlobal reporting initiative

Athabasca Oil Corporation Announces 2021 Second Quarter

(1) Refer to the “Reader Advisory” section within this news release for additional information on Non-GAAP Financial Measures and production disclosure. (2) Includes realized commodity risk management loss of $17.8 million and $38.9 million for the three and six months ended June 30, 2021 (three and six months ended June 30, 2020 - $24.4 million and $45.9 million gains). (3) Includes available credit under Athabasca’s Credit Facility and Unsecured Letter of Credit Facility (see page 14 of the Company’s Q2 MD&A). (4) The face value of the 2022 Notes is US$450 million. The 2022 Notes were translated into Canadian dollars at the June 30, 2021 exchange rate of US$1.00 = C$1.2394 (December 31, 2020 – C$1.2732). Operations Update

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Athabasca Oil Corporation Announces 2020 Year-end Results

(1) Refer to the “Reader Advisory” section within this press release for additional information on Non-GAAP Financial Measures and production disclosure. (2) Includes realized commodity risk management loss of $9.4 million and gain of $29.1 million for the three months and year ended December 31, 2020, respectively (three months and year ended December 31, 2019 - $2.1 million loss and $44.0 million loss). (3) Includes available credit under Athabasca s Credit Facility and Unsecured Letter of Credit Facility (see page 15 of the MD&A). (4) The face value of the 2022 Notes is US$450 million. The 2022 Notes were translated into Canadian dollars at the December 31, 2020 exchange rate of US$1.00 = C$1.2732 (2019 – C$1.2965). Operations Update Thermal Oil

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