Canadian Natural - Total Company

Worldwide consolidated reporting entity. Total proved reserves 15,910 MMBOE (+4% YoY) and 2P 20,750 MMBOE (+3% YoY) at YE2025 on Forecast Prices basis (NI 51-101, IQRE: Sproule International + GLJ). Total proved RLI 31 yrs; 2P RLI 40 yrs; PDP RLI 20 yrs; SCO+Mining Bit RLI 39 yrs (~50% of 1P). 2025 production 1,570,757 BOE/d (+15% YoY) - record. FNR 10% BT $110.1B PDP, $157.8B 1P, $191.0B 2P (forecast prices). SEC SM @10% AT 2025 $104,988M (NA $104,113 + Africa $875). 2025 FD&A incl FDC: $3.64/BOE 1P; $2.42/BOE 2P. 2025 production replacement 218% (1P) / 212% (2P). 2026 BOE guidance 1,615-1,665 mboe/d. 2026 capex C$5,990M (revised) + C$993M abandonment.