Tamarack Valley Energy (TVE) Investor Day 2025 summary

Strategic business model and asset development

• Focus on top-tier oil assets in Clearwater and Charlie Lake, with over 90% of production now from these assets accumulated in the past two years.

• Emphasis on compounding shareholder returns through buybacks, debt paydown, OpEx reduction, and water flood projects with multi-year paybacks.

• Nearly 10% of shares repurchased since December 2023, supporting per-share metrics.

• Reserve growth is a key theme, with 22% debt-adjusted PDP reserve growth and a focus on expanding reserves through ongoing investment.

• Large oil in place (OOIP) runway, now estimated at over 11 billion barrels, underpins long-term sustainability and growth.

Five-year plan and financial guidance

• Five-year plan (2025–2029) targets 3–5% production CAGR, with annual capital spending of ~$450MM and reinvestment ratio of ~50%.

• Accelerated debt target of CAD 500 million by 2027 at CAD 65–75 WTI, two years earlier than prior guidance.

• Over CAD 400 million in base dividends and repurchase of more than 50% of 2025 year-end shares projected over five years.

• Cumulative total shareholder return and per share metrics expected to grow over 100% through 2030 at $75/bbl WTI.

• Plan emphasizes lowering decline rates, reducing sustaining capital, and increasing free funds flow for debt repayment, returns, and growth optionality.

Asset performance and technical innovation

• Charlie Lake production up 51% since acquisition, now at ~18,000 BOE/d, with reserves up 77% and inventory increased 135% for extended reach wells.

• Processing capacity expanded fourfold since 2021, increasing reliability and inventory.

• Multiple zones and ongoing innovation in well placement, frac design, and water flood pilots enhance recovery and efficiency.

• Both assets benefit from optimized well designs, strategic land acquisitions, and infrastructure expansions.

• Future growth areas identified in Seal and Pelican, targeting stacked zone potential and further de-risking through planned drilling.