investor presentation - arc resources

InvestorPresentation May 2021

2

Shares outstanding 724 million

Market capitalization(1) $6.0 billion

Net debt(2) $2.4 billion

Enterprise value(1)(2) $8.4 billion

Quarterly dividend $0.06/share

Dividends paid since inception $6.7 billion

The Largest Pure-play Montney Producer

(1) Market capitalization as of May 5, 2021.(2) Combined pro forma net debt excluding lease obligations as of March 31, 2021. Refer to the “Capital Management” note

in ARC’s financial statements and to the section entitled “Combined Pro Forma Reconciliations” within the AdvisoryStatements to this presentation for the calculation of Seven Generations’ net debt excluding lease obligations as ofMarch 31, 2021.

(3) Source: Company reports, estimated operated Montney volumes used in the absence of public disclosure.(4) Includes ARC’s non-core Pembina production.

Mboe/day

Montney production by operator(3)(4)

~340

ARC

Peer 1

Peer 2

Peer 3

Peer 4

Peer 5

Peer 6

Leading energy producer focused on its disciplined, returns-focused value proposition

3

Positioned for Success

ARC is uniquely positioned to create significant shareholder value following the acquisition of Seven Generations

(1) Free Funds Flow is a non-GAAP measure that does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. Refer to the Advisory Statements to this presentation.(2) Excluding lease obligations. Refer to the “Capital Management” note in ARC’s financial statements.(3) Includes finance costs that are expected to be approximately $50 million lower for the combined entity than they would have been if the Seven Generations senior notes remained outstanding.

Size and Scale

Capital Allocation Optionality

Strong Financial Position

Cost Savings and Synergies

ESGLeadership

+ Largest pure-play Montney producer

+ Sixth-largest energy company in Canada

+ Commodity andgeographic diversity

+ Optionality through all price cycles

+ Low cost of capital

+ Significant free funds flow(1) generation

+ Ability to increase return of capital to shareholders and fund development of Attachie

+ Dividend remains a keycomponent of shareholder returns

+ Returns-focused value proposition

+ Investment-grade entity provides cost of capital advantage

+ Strong deleveraging profile and ample liquidity

+ Net debt(2) expected to be reduced to low end of target range of 1.0 to 1.5 timesannualized funds from operations by year-end 2021

+ Annual cost savings of approximately $160 millionresulting from acquisition of Seven Generations(3)

+ Near-term focus will be to integrate Kakwa asset intoARC’s portfolio to realizeoperating, drilling, and completions efficiencies

+ Commitment toresponsible development

+ Lowest GHG emissions intensity producer

+ Established platform for commercializingresponsibly developed resource

05/05/2021 1

4

Guiding Principles

Guiding principles have created a strong foundation for excellent business performance

(1) Free Funds Flow is a non-GAAP measure that does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. Refer to the Advisory Statements to this presentation.

Sustainable business model with best-in-class

assets and focus onlong-term profitability

Risk managementaround all aspects of the

business including maintaining a strong financial position at all commodity price levels

Superior capital disciplineand allocation with strong free

funds flow(1) generation to ensure optimal returns to

shareholders

Operational excellenceand top-tier ESG performance

through efficient and disciplined execution

Owned-and-operated infrastructure to support operational control, low cost

structure, and optimized revenue streams

5

2021 Business Priorities

Protect the balance sheet, support the dividend, prioritize capital investments that drive long-term value and profitability

(1) Free Funds Flow is a non-GAAP measure that does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. Refer to the Advisory Statements to this presentation.(2) Excluding lease obligations. Refer to the “Capital Management” note in ARC’s financial statements.

1. Protect strong financial position and maintain flexibility

2. Demonstrate capital discipline and profitability of investments

3. Deliver meaningful returns toshareholders

+ Strengthen balance sheet with free funds flow(1)

+ Reduce net debt(2) to annualized funds from operations to low end of target range of 1.0 to 1.5 times

+ Execute additional commodity hedges to de-risk pricing volatility

+ Integrate Kakwa asset into ARC’s portfolio and focus on realizing synergies

+ Execute capital program to sustain production at core Montney areas

+ Majority of program made up of profitable half-cycle investments

+ Two small-scale infrastructure optimization projects at Sunrise and Parkland/Tower

+ Generate funds from operations to:+ Pay dividend+ Sustain production+ Substantially reduce net

debt(2)

+ Declare dividends of $0.24/share+ Once net debt(2) to annualized

funds from operations is at the low end of target range, consider:

+ Increasing returns to shareholders

+ Investing in profitable growth at Attachie

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6

Q1 2021 in Review

(1) Combined pro forma production, capital expenditures, funds from operations, and free funds flow represent the results of ARC plus Seven Generations for the three months ended March 31, 2021. Combined pro forma net debt excluding leaseobligations represents net debt excluding lease obligations of ARC plus Seven Generations as of March 31, 2021. Refer to the section entitled “Combined Pro Forma Reconciliations” within the Advisory Statements to this presentation for thecalculation of Seven Generations’ funds from operations and free funds flow for the three months ended March 31, 2021, and Seven Generations’ net debt excluding lease obligations as of March 31, 2021.

(2) Free Funds Flow is a non-GAAP measure that does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. Refer to the Advisory Statements to this presentation.(3) Excluding lease obligations. Refer to the “Capital Management” note in ARC’s financial statements.

boe/day

Production$ millions

Capital expenditures

$ millions

Funds from operations$ millions

Free funds flow(2)

ARC 273.9

Seven Generations 300.6

Combined pro forma(1) 574.5

ARC 170,430

Seven Generations 180,774

Combined pro forma(1) 351,204

ARC 148.2



ARC 568.0

Seven Generations 1,786.9

Combined pro forma(1) 2,354.9

ARC 125.7



$ millions

Net debt(3)

ARC is well-positioned to deliver on its 2021 business priorities following excellent performance in Q1 2021

7

2021 Guidance – Production

Production

Crude oil (bbl/day) 13,647 12,000 - 13,500 12,000 - 13,500

Condensate (bbl/day) 13,812 69,000 - 75,000 55,000 - 60,000

Crude oil and condensate (bbl/day) 27,459 81,000 - 88,500 67,000 - 73,500

Natural gas (MMcf/day) 794 1,200 - 1,255 1,100 - 1,140

NGLs (bbl/day) 10,620 49,000 - 52,000 40,000 - 42,000

Total production (boe/day) 170,430 330,000 - 350,000 290,000 - 305,000

(1) The Business Combination closed on April 6, 2021 and as such, 2021 guidance includes ARC's financial and operational results for the three months ended March 31, 2021 plus the Company's expectations for the combined financial and operationalresults of ARC's and Seven Generations' operations for the remaining nine months of 2021.

(2) COVID-19 impacts on demand and market volatility may impact ARC’s future financial and operational results. ARC will continuously monitor its guidance and provide updates as deemed appropriate.

Q1 2021Actuals

Q2 to Q4 2021Guidance(1)(2)

2021Guidance(1)(2)

• Q2 2021 production is expected to be ~7% lower than Q1 2021 combined pro forma production of 351,204 boe/day due to significant turnaround activity and spring break-up impacts

• Q3 2021 and Q4 2021 production is expected to average ~340,000 boe/day

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8

2021 Guidance – Expenses and Capital Expenditures

(1) The Business Combination closed on April 6, 2021 and as such, 2021 guidance includes ARC's financial and operational results for the three months ended March 31, 2021 plus the Company's expectations for the combined financial and operationalresults of ARC's and Seven Generations' operations for the remaining nine months of 2021.

(2) COVID-19 impacts on demand and market volatility may impact ARC’s future financial and operational results. ARC will continuously monitor its guidance and provide updates as deemed appropriate.(3) Excludes transaction costs associated with the Business Combination.(4) Comprises expense recognized under all share-based compensations plans, with the exception of the Deferred Share Unit Plans.

2021Guidance(1)(2)

Expenses ($/boe)

Operating 4.10 - 4.60

Transportation 4.50 - 5.00

G&A expense before share-based compensation expense(3) 0.90 - 1.00

G&A - share-based compensation expense(4) 0.30 - 0.45

Transaction costs 0.20 - 0.30

Interest and financing 0.70 - 0.80

Current income tax expense as a per cent of funds from operations 1 - 5

Capital expenditures before land and net property acquisitions (dispositions) ($ millions) 950 - 1,000

9

Realized Cost Savings:+ Finance Costs

0

30

60

90

120

150

180

Corporate Costs Finance Costs Operating Efficiencies Market Optimization Drilling & Completions Efficiencies Annual Synergies

$160 Million in Annual Synergies from Acquisition of 7GSynergies expected by 2022

$160 millionSynergies

$45 million

$50 million(1)

$15 million

$25 million

$25 million

(1) Finance costs are expected to be approximately $50 million lower for the combined entity than they would have been if the Seven Generations senior notes remained outstanding.

Longer-term opportunities include capital allocation synergies and improved market access

05/05/2021 4

10

1 2 3 4

Capital Allocation Principles Remain Unchanged

ARC’s capital allocation continues to focus on delivering strong returns to shareholders

Funds fromOperations

Inflows Outflows

Pay sustainable dividend

Focused on:• Protecting strong financial position

and maintaining flexibility• Prioritizing profitability and value

over volumes• Returning capital to shareholders

Manage net debt(1) to funds from operationsratio within 1.0 and 1.5 times

Profitably sustain production through efficient execution and controlled decline rate

Com

mitt

edC

apita

lD

iscr

etio

nary

Cap

ital

Principles Priorities

•Debt Reduction•Incremental Shareholder Returns

•Organic Development Opportunities

•M&A

Dividend

$174 million or $0.24 per share

per year

Maintenance Capital

~$1 billionper year

(1) Excluding lease obligations. Refer to the “Capital Management” note in ARC’s financial statements.

11

Investment-grade Entity

Investment-grade status provides cost of capital advantage

(1) Assumes Cdn$/US$ exchange rate of 1.2572 at March 31, 2021.

Cdn$ millions

Long-term notes repayment schedule(1)Bank credit facility

+ $2.0 billion unsecured extendible revolving credit facility

+ ~$1.2 billion of available liquidity

+ Credit facility matures in 2024

Long-term debt refinancing

+ Issued two tranches of private unsecured notes of $1 billion aggregate principal amount in Q1 2021+ DBRS credit rating of BBB with a stable trend+ Weighted average interest rate of 2.965%+ Average term of 7.75 years

+ Proceeds were used to retire and/or defease Seven Generations’ senior notes, which had a weighted average interest rate of 5.955%, and to repay Seven Generations’ credit facility

0

150

300

450

600

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

3.72% US$ Note8.21% US$ Note5.36% US$ Note3.31% US$ Note3.81% US$ Note4.49% Cdn$ Note2.354% Cdn$ Note3.465% Cdn$ Note

05/05/2021 5

12

Asset Overview

2021 priorities focused on asset integration, sustaining production, and maximizing free funds flow(1) generation

~$5MM~3,500 boe/dayComplete detailed engineering work for development

Attachie

~$80MM 9 wells~40,000 boe/dayExpand existing facility by 40 MMcf/day and maximize throughput to capitalize on anticipated strength in natural gas pricing

Sunrise

~$60MM 16 wells~17,000 boe/dayDeliver profitable light oil production by leveraging 2020 facility expansion

Ante Creek

~$525MM 55 wells~180,000 boe/dayIntegrate asset and focus on maximizing free funds flow(1)

generation

Kakwa

~$240MM 44 wells~93,000 boe/daySustain production andcomplete small-scale facility sour conversion and optimization project at Parkland/Tower

Greater Dawson

Mcf/day italize on s pricing

n Kakwa

Note: Well counts denote wells drilled in calendar year; number of wells with completions activities in calendar year may vary.(1) Free Funds Flow is a non-GAAP measure that does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. Refer to the Advisory Statements to this presentation.

13

Commitment to ESG Leadership

ARC is committed to delivering strong ESG performance and leading reporting transparency

+ Manage risks around all aspects of the business

+ Ensure appropriate oversight of ESG strategies and practices

+ Align executive compensation with performance, including incorporating ESG metrics into determination of compensation levels

+ Be an industry leader inhealth and safety practicesand performance

+ Form strong relationships withstakeholders and Indigenous communities

+ Maintain a diverse andinclusive workforce+ Member of 30% Club and

Bloomberg Gender-Equality Index

+ Create shared value for society

+ Maintain standing as lowestGHG emissions intensity producer amongst Canadian E&P peer group

+ Awarded CDP score of “A-” on Climate Change and “B” onWater Security

+ Provide low-carbon energy forthe future through technology and innovation

+ Responsibly manage water usein operations

+ Proactively restore land

Environmental Social Governance

05/05/2021 6

14

ESG Excellence

ARC is the lowest GHG emissions intensity producer amongst Canadian E&P group

(1) Source: BMO Capital Markets; Yale Environmental Performance Index (EPI); Social Progress Imperative; Worldbank Worldwide Governance Indicators, BMO Capital Markets; Bloomberg; CSRHub. For presentation, an equal weight (1/3) of each index is represented.

(2) Performance data for 2019 GHG emissions intensities comes from 2019 CDP submissions and other publicly available data sources. Peer group includes: BNP, BTE, CNQ, CPG, CVE, ERF, MEG, NVA, OVV, PEY, SU, TOU, VET, WCP.

0.00

0.03

0.06

0.09

0.12

ARC

201

9

7G

ARC

201

8

ARC

40

46

52

58

64

70

40 46 52 58 64 70

Soci

al a

nd G

over

nanc

e Sc

ore

Environmental Score

Africa

Asia

Canada

Europe

Middle East

Latin America

Russia

United States

Oil and gas companies’ relative ESG rankings(1)

tCO2e/boe

2019 GHG emissions intensity(2)

15

Network of Owned-and-operated Infrastructure

Owned-and-operated infrastructure affords greater optionality and control over cost structure

Combined network of owned-and-operated infrastructure

+ Natural gas processing and sales capacity of 1.5 Bcf/day

+ Ability to optimize larger portfolio, which has access to downstream markets across North America

Benefits of owned-and-operated infrastructure

+ Lowers cost structure and increases funds from operations

+ Provides ability to manage production based upon prevailing commodity prices to optimize revenues

+ Retains economics of facility optimization projects

05/05/2021 7

16

Natural Gas Financial and Physical Price Management

$2.13 $2.07 $2.26$2.94 $3.19

($0.08) ($0.15) ($0.10) ($0.06)

$1.41

$0.09 $0.11 $0.02

($0.06) ($0.21)

$2.14 $2.03 $2.18$2.82

$4.39

(1.00)

0.00

1.00

2.00

3.00

4.00

5.00

Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021

Cdn

$/M

cf

43%31%

11% 7%

13%21%

39% 41%

28%24%

15% 16%

1% 6%17% 15%

7% 9% 9% 12%

8% 9% 9% 9%

Bal 2021 2022 2023 20240%

25%

50%

75%

100%

% o

f Tot

al P

rodu

ctio

n

Well-diversified North American natural gas exposure increases optionality

(1) Source: ARC Risk Research, TC Energy, Enbridge, company reports.(2) Natural gas realizations are for ARC as a stand-alone entity.(3) Realized gain (loss) on risk management contracts is not included in ARC’s realized natural gas price.(4) Diversification based on internal volume and marketing assumptions for the combined pro forma entity, adjusted for ARC’s heat content.(5) “Hedged” includes all physical and financial fixed price swaps, collars, and 3-ways.

Diversification Activities

Realized Gain (Loss) onRisk Management Contracts

Average Price before Diversification Activities

Dawn Floating

Malin Floating

Henry Hub Floating

Midwest US Floating

Hedged

WCSB Floating

WCSB demand and export capacity growth(1) Natural gas realizations(2)(3) and diversification(4)(5)

(1) Source: ARC Risk Research, TC Energy, Enbridge, company reports.(2) Natural gas realizations are for ARC as a stand-alone entity.(3) R li d i (l ) i k t t t i t i l d d i ARC’ li d t l i

WCSB demand and export capacity growth

NGTL East Gate Capacity+1.3 Bcf/day by 2022

Intra-Alberta Demand+1.5 Bcf/day by 2025

LNG Canada Phase 1+2.1 Bcf/day by 2025

Enbridge T-South Capacity+0.2 Bcf/day by 2021

NGTL West Gate Capacity+0.3 Bcf/day by 2023

5.4 Bcf/day Demand & Export CapacityGrowth Expected by 2025

17

Canadian Condensate Market

• Heavy reliance on imported volumes from the US results in Canadian condensate trading within a very tight range to WTI

Continued reliance on imported condensate volumes is constructive for Canadian condensate pricing

0

200

400

600

800

2017 2018 2019 2020 2021F 2022F 2023F 2024F

WCSB Condensate Supply Imports Required WCSB Condensate Demand

(1) Source: Bloomberg.(2) Source: ARC Risk Research, AER, BCOGC, COLC.(3) Forecast includes the impact of GEI/USD Diluent Recovery Unit assuming 2021 on-stream date.

0

20

40

60

80

2017 2018 2019 2020 2021

WTI Condensate WCS

• WCSB condensate demand is expected to stay well in excess of local supply for the foreseeable future

US$/bbl

Crude oil and condensate pricing(1)

Mbbl/day

WCSB condensate supply and demand(2)(3)

05/05/2021 8

18

Significant Cash Flow Protection

ARC is well-hedged with a long-term focus on reducing downside risk infunds from operations and creating certainty in cash flows

Mbbl/day, %

Crude oil and condensate production hedged(1)

MMBtu/day, %

Natural gas production hedged(1)

(1) Positions as of May 5, 2021.

0%

15%

30%

45%

60%

0

12

24

36

48

Q2 2021 Q3 2021 Q4 2021 2022

Production Hedged % Hedged

0%

15%

30%

45%

60%

0

180,000

360,000

540,000

720,000

Q2 2021 Q3 2021 Q4 2021 2022

Production Hedged % Hedged

19

Greater Dawson Overview

Tower

Parkland

Dawson

Phase I & IIGas Plants

Phase III & IVGas Plants


Large integrated network of owned-and-operated infrastructure with low cost structure

Development plan• Maximize throughput to capitalize on strength in natural gas pricing• Improve Parkland/Tower’s deliverability and profitability with facility

optimization and sour conversion project

Pembina & EnbridgeTCPLParkland-Dawson Interconnect Pipeline

Infrastructure build-out(1)

2010 2011 2013 2015 2017 2019 Q2 2020 Q3 2021

DawsonPhase I

DawsonPhase II

Parkland/Tower

Phase I

Parkland/Tower Battery

Upgrade

Dawson Phase I & II

UpgradeDawsonPhase III

Montney Crude Oil & Liquids Processing CapacityMontney Natural Gas Processing Capacity

Parkland/Tower

OptimizationDawsonPhase IV

SnapshotQ1 2021 Production Total: 99,003 boe/day

Natural gas: 469 MMcf/dayCrude oil & liquids: 20,885 bbl/day

TotalCapacity

(1) Represents owned-and-operated infrastructure.

05/05/2021 9

20

Sunrise Overview

2015 2018 - 2019 Q2 2021

Low-cost natural gas development with excellent deliverability and profitability

Snapshot Development plan• Complete infrastructure optimization project to add 40 MMcf/day of

processing and sales capacity• Maximize throughput to capitalize on strength in natural gas pricing


Montney Natural Gas Processing Capacity


SunrisePhase I

SunrisePhase II

SunrisePhase I & IIExpansion

Q1 2021 Production Total: 40,913 boe/dayNatural gas: 245 MMcf/dayCrude oil & liquids: 41 bbl/day

TotalCapacity


21

Kakwa Overview

Development of condensate-rich asset focused on efficient execution and capital efficiency improvements

SnapshotNest 1: Ultra-rich condensate regionNest 2: Primary liquids-rich regionNest 3: High-deliverability natural gas-weighted region

GoldCreek

Nest 1Nest 2

Nest 3

Deep Southwest

Wapiti

Cutbank

Karr

LatorPembinaKakwa River

InfrastructureNatural gas processing and sales• 760 MMcf/day of owned-and-operated capacity

• Cutbank, Lator, and Gold CreekCondensate stabilization• >60 Mbbl/day of owned-and-operated capacity

Asset overview

Development plan• Integrate Kakwa asset into ARC’s portfolio and focus on realizing

synergies

• Leverage Seven Generations’ recent innovations on well and pad designs to optimize inter-well spacing for future pad development

• Sustain production at ~180,000 boe/day

Rich Gas

Q1 2021 Production Total: 180,774 boe/dayCrude oil & liquids: 101,300 bbl/dayNatural gas: 477 MMcf/day

CutbankC

05/05/2021 10

22

Ante Creek Overview

Stable, low-risk light oil development

Snapshot Development plan• Deliver profitable light oil production by leveraging 2020 facility

expansion

Infrastructure build-out(1)2-26Gas Plant

10-7Gas Plant

10-36Gas Plant


Existing Infrastructure 2012 Q2 2020

Ante CreekPhase I

Ante Creek10-36

Expansion


TotalCapacity


23

Attachie Overview

ARC expects to make sanctioning decision in H2 2021 for first phase of development of large condensate-rich resource

Snapshot Development plan• Complete detailed engineering work for development• Recommence drilling activities once development is undertaken to

ensure the most efficient and profitable execution possible



Existing Infrastructure

Attachie WestPhase I4-20

Battery(3.5 Mbbl/day)

Phase IGas Plant


PembinaNorth Montney Mainline


05/05/2021 11

Additional Information

25

Asset Details

Commodity and geographic diversity across asset portfolio provides optionality

(1) Denote Montney sections and acreage only.

Greater Dawson Sunrise Kakwa Ante Creek Attachie

Net production – Q1 2021Crude oil & liquids (bbl/day)Natural gas (MMcf/day)Total (boe/day)

20,885469

99,003

41245

40,913

101,300477

180,774

8,53451

17,099

2,61912

4,593

Land(1)

Net sectionsNet acresWorking interest

231149,800

~97%

3623,100~93%

779498,500

~99%

196125,500~100%

308202,000

~99%

PDP Reserves (MMboe)Liquids (MMbbl)Gas (Bcf)

13926.5679

66-

394

259141.2

708

2211.1

67

73.320

05/05/2021 12

26

Historical Performance(1)

ARC has managed a profitable business through all commodity price cycleswith its efficient Montney assets, capital discipline, and strong balance sheet

(1) Historical performance is for ARC as a stand-alone entity and presents results up to and including March 31, 2021.(2) Net debt presented for 2021 onwards excludes lease obligations. Refer to the “Capital Management” note in ARC’s financial statements.(3) Dividends as a per cent of funds from operations calculated as dividends before Dividend Reinvestment Plan and Stock Dividend Program.

Mboe/day

Production$ billions, ratio

Net debt(2) to FFO$ billions, % of FFO

Dividends(3)

0%

30%

60%

90%

120%

0

2

4

6

8

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

YTD

Cumulative Dividend (LHS)

Dividends as a % of Funds from Operations (RHS)

0.0

0.5

1.0

1.5

2.0

2.5

0.0

0.4

0.8

1.2

1.6

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

YTD

Net Debt (LHS)

Annualized Funds from Operations (LHS)

Net Debt to Annualized Funds from Operations (RHS)

0

45

90

135

180

199

6 1

997

199

8 1

999

200

0 2

001

200

2 2

003

200

4 2

005

200

6 2

007

200

8 2

009

201

0 2

011

201

2 2

013

201

4 2

015

201

6 2

017

201

8 2

019

202

0 2

021

YTD

Montney Natural Gas (boe/day)

Non-Montney Natural Gas (boe/day)

Montney Crude Oil & Liquids (bbl/day)

Non-Montney Crude Oil & Liquids (bbl/day)

27

Historical Performance(1)

(50)

0

50

100

150

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Reserves Replacement - Development Reserves Replacement - Net Acquisitions & Dispositions Reserves Replacement - Total Production

• ARC’s 2020 finding and development costs were $2.34/boe for 2P reserves and $2.60/boe for TP reserves(3)

203% of produced reserves replaced in 2020150% reserves replacement or greater for 13th consecutive year

Growth through Acquisition Organic Growth

(1) Historical performance is for ARC as a stand-alone entity and present results up to and included December 31, 2020.(2) 1997 to 2002 reserves data is based on company interest established reserves (proved plus 50 per cent of probable reserves). 2003 to 2020 reserves data is based on gross interest proved plus probable reserves.(3) Includes future development capital.

MMboe

Annual produced reserves replacement(2)

05/05/2021 13

28

Risk Management Contracts Positions at March 31, 2021(1)

Q2 2021 to Q4 2021 2022 2023 2024 2025Crude Oil – WTI US$/bbl bbl/day US$/bbl bbl/day US$/bbl bbl/day US$/bbl bbl/day US$/bbl bbl/dayCeiling 56.65 12,113 56.17 11,000 - - - - - -Floor 48.63 12,113 47.05 11,000 - - - - - -Sold Floor 40.01 8,662 37.81 8,000 - - - - - -Swap 40.01 1,662 - - - - - - - -Sold Swaption(2) 43.00 1,338 - - - - - - - -Total Crude Oil Volumes (bbl/day) 13,775 11,000 - - -Crude Oil – MSW (Differential to WTI)(3) US$/bbl bbl/day US$/bbl bbl/day US$/bbl bbl/day US$/bbl bbl/day US$/bbl bbl/daySwap (6.11) 5,000 - - - - - - - -Natural Gas – NYMEX Henry Hub(4) US$/MMBtu MMBtu/day US$/MMBtu MMBtu/day US$/MMBtu MMBtu/day US$/MMBtu MMBtu/day US$/MMBtu MMBtu/dayCeiling 3.15 177,891 3.13 115,000 2.74 10,000 2.74 10,000 - -Floor 2.61 177,891 2.60 115,000 2.50 10,000 2.50 10,000 - -Sold Floor 2.12 136,727 2.19 85,000 2.10 10,000 2.10 10,000 - -Natural Gas – AECO 7A Cdn$/GJ GJ/day Cdn$/GJ GJ/day Cdn$/GJ GJ/day Cdn$/GJ GJ/day Cdn$/GJ GJ/dayCeiling 2.41 120,000 2.52 160,000 2.40 90,000 2.40 90,000 2.73 20,000Floor 1.95 120,000 1.99 160,000 1.87 90,000 1.87 90,000 2.00 20,000Sold Floor - - 1.75 20,000 - - - - - -Swap 2.30 83,345 2.23 20,000 2.06 10,000 2.06 10,000 - -Sold Swaption(2) - - 2.00 20,000 - - - - - -Total Natural Gas Volumes (MMBtu/day) 370,625 285,607 104,782 104,782 18,956Natural Gas – AECO Basis (Differential to NYMEX

Henry Hub) US$/MMBtu MMBtu/day US$/MMBtu MMBtu/day US$/MMBtu MMBtu/day US$/MMBtu MMBtu/day US$/MMBtu MMBtu/daySold Swap (0.93) 66,673 (0.88) 35,000 (0.91) 70,000 (0.91) 70,000 (0.66) 25,000Total AECO Basis Volumes (MMBtu/day) 66,673 35,000 70,000 70,000 25,000Natural Gas – Other Basis (Differential to NYMEX Henry

Hub)(5) MMBtu/day MMBtu/day MMBtu/day MMBtu/day MMBtu/daySold Swap 110,000 110,000 80,000 4,973 -Foreign Exchange Contract Settlement Date Notional Amount ($ millions) Exchange Rate (Cdn$/US$)Bought Forward April 1, 2021 360 1.2605Bought Call April 13, 2021 25 1.2810Variable Rate Collar(6) August 23, 2021 10 1.2549 - 1.3000(1) The prices and volumes in this table represent averages for several contracts representing different periods. The average price for the portfolio of options listed above does not have the same payoff profile as the individual option contracts. Viewing the

average price of a group of options is purely for indicative purposes. All positions are financially settled against the benchmark prices.(2) The sold swaption allows the counterparty, at a specific future date, to enter into a swap with ARC at the above-detailed terms. These volumes are not included in the total commodity volumes until such time that the option is exercised.(3) MSW differential refers to the discount between WTI and the mixed sweet crude oil grade at Edmonton, calculated on a monthly weighted average basis in US dollars.(4) Natural gas prices referenced to NYMEX Henry Hub Last Day Settlement.(5) ARC has entered into basis swaps at locations other than AECO.(6) Variable rate collar whereby if the Cdn$/US$ spot rate is below 1.2825 at expiry, the ceiling will re-adjust to 1.3000.

29

ESG Recognitions and Rankings

Member of MSCI Global Sustainability IndexMSCI ESG Rating: AAA

Voluntary participant since 20072020 Climate Change Score: A-2020 Water Security Score: B

Member of Sustainalytics’ Jantzi Social Index

Member of FTSE Russell’s FTSE4Good Index Series since 2018

Member of the 30% Club since 2018

View ARC’s 2020 ESG Report at www.arcresources.com/responsibility

Member of Bloomberg’s Gender-Equality Index since 2021

05/05/2021 14

30

Advisory StatementsNotes Regarding Forward-looking InformationThis presentation contains certain forward-looking statements and forward-looking information (collectively referred to as "forward-looking information") within the meaning of applicable securities legislationabout current expectations about the future, based on certain assumptions made by ARC. Although ARC believes that the expectations represented by such forward-looking information are reasonable, therecan be no assurance that such expectations will prove to be correct. Forward-looking information in this presentation is identified by words such as "anticipate", "believe", "ongoing", "may", "expect", "estimate","plan", "will", "project", "continue", "target", "strategy", "upholding“, or similar expressions and includes suggestions of future outcomes. In particular, but without limiting the foregoing, this presentation containsforward-looking information with respect to: the ability of ARC to generate free funds flow and the anticipated uses thereof; the anticipated impacts of turnaround activity and spring break-up on production andfield operations and the corresponding decrease to production; estimated production amounts and quantities thereof; the continued electrification of well sites across ARC's asset base; the potential impact ofCOVID-19, its effect on demand and market volatility, and its possible effect on ARC's future financial and operational results; the anticipated synergies expected to be attained through corporate and financecost savings, operating efficiencies, market optimization opportunities, and drilling and completions efficiencies; the expected decrease in costs resulting from the satisfaction of Seven Generations' seniornotes; the expected reduction in ARC's ratio of net debt excluding lease obligations to annualized funds from operations; the expected increased optionality resulting from reaching ARC's debt reduction targets;the estimated annual capital requirements to sustain ARC's production; the anticipated core areas of ARC's future production; the planned approach to developing the Kakwa asset including plans to continueon the path of optimizing the inter-well spacing for future pad development in the area; ARC's continued commitment to upholding strong environmental performance by reducing its GHG emissions and acontinued focus on a strong safety culture; ARC's intention to monitor its guidance in respect of COVID-19 and provide updates as required; ARC's priorities for the remainder of 2021; the continued payment ofARC's quarterly dividend and the value thereof; anticipated increases to production; the anticipated creation of a cohesive ESG strategy and the implementation thereof; impacts of and the timing of achievingARC's target range of net debt excluding lease obligations to annualized funds from operations; anticipated cost savings and synergies; and other statements.Readers are cautioned not to place undue reliance on forward-looking information as ARC's actual results may differ materially from those expressed or implied. ARC undertakes no obligation to update orrevise any forward-looking information except as required by law. Developing forward-looking information involves reliance on a number of assumptions and consideration of certain risks and uncertainties,some of which are specific to ARC and others that apply to the industry generally. Material factors or assumptions on which the forward-looking information in this presentation include: ARC's ability tosuccessfully integrate the business of Seven Generations; access to sufficient capital to pursue any development plans; ARC's ability to issue securities; the impacts the Business Combination may have on thecurrent credit ratings of ARC; forecast commodity prices and other pricing assumptions; forecast production volumes based on business and market conditions; the accuracy of outlooks and projectionscontained herein; projected capital investment levels, the flexibility of capital spending plans, and associated sources of funding; achievement of further cost reductions and sustainability thereof; applicableroyalty regimes, including expected royalty rates; future improvements in availability of product transportation capacity; opportunity for ARC to pay dividends and the approval and declaration of such dividendsby the board of directors of ARC; cash flows, cash balances on hand, and access to ARC’s credit facility being sufficient to fund capital investments; foreign exchange rates; near-term pricing and continuedvolatility of the market; the ability of ARC's existing pipeline commitments and financial hedge transactions to partially mitigate a portion of ARC's risks against wider price differentials; estimates of quantities ofcrude oil, natural gas, and liquids from properties and other sources not currently classified as proved; accounting estimates and judgments; future use and development of technology and associated expectedfuture results; ARC's ability to obtain necessary regulatory approvals; the successful and timely implementation of capital projects or stages thereof; the ability to generate sufficient cash flow to meet currentand future obligations; estimated abandonment and reclamation costs, including associated levies and regulations applicable thereto; ARC's ability to obtain and retain qualified staff and equipment in a timelyand cost-efficient manner; ARC's ability to carry out transactions on the desired terms and within the expected timelines; forecast inflation and other assumptions inherent in the guidance of ARC; the retentionof key assets; the continuance of existing tax, royalty, and regulatory regimes; the accuracy of the estimates of each of ARC's and Seven Generations' reserve volumes; ARC's ability to access and implementall technology necessary to efficiently and effectively operate its assets; the ongoing impact of COVID-19 on commodity prices and the global economy; and other risks and uncertainties described from time totime in the filings made by ARC with securities regulatory authorities.The forward-looking information in this presentation also includes financial outlooks and other related forward-looking information (including production and financial-related metrics) relating to ARC followingthe completion of the Business Combination, including: the expectations of ARC regarding the impact of the Business Combination on free funds flow, net debt excluding lease obligations, production, and netdebt excluding lease obligations to annualized funds from operations. Any financial outlook and forward-looking information implied by such forward-looking statements are described in the joint managementinformation circular of ARC and Seven Generations dated March 1, 2021, and the documents incorporated by reference therein, the MD&A, and ARC's most recent annual information form, which are availableon ARC's website at www.arcresources.com and under ARC's SEDAR profile at www.sedar.com and are incorporated by reference herein.

31

Advisory StatementsBasis of PreparationAll financial figures and information have been prepared in Canadian dollars (which includes references to "dollars" and "$"), except where another currency has been indicated, and in accordance with International FinancialReporting Standards ("IFRS" or "GAAP") as issued by the International Accounting Standards Board. Production volumes are presented on a before royalties basis.

Non-GAAP MeasuresCertain financial measures in this presentation do not have a standardized meaning as prescribed by IFRS, such as free funds flow (including on a per share basis), and therefore are considered non-GAAP measures. See the“Capital Management” note of ARC’s unaudited condensed interim consolidated financial statements as at and for the three months ended March 31, 2021 for further information on other measures contained in this presentationincluding funds from operations and net debt. These measures may not be comparable to similar measures presented by other issuers. These measures have been described and presented in order to provide shareholders,potential investors, and analysts with additional measures for analyzing the transaction. This additional information should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.

Free Funds Flow

Management uses free funds flow as a measure of the efficiency and liquidity of its business, measuring its funds available for capital investment to manage debt levels, pay dividends, and return capital to shareholders. TheCompany computes free funds flow as funds from operations generated during the period less capital expenditures before undeveloped land purchases and property acquisitions and dispositions. By removing the impact of currentperiod capital expenditures from funds from operations, Management believes this measure provides an indication to investors and shareholders of the funds the Company has available for future capital allocation decisions.

Barrels of Oil EquivalentNatural gas volumes have been converted to barrels of oil equivalent (“boe") on the basis of six thousand cubic feet ("Mcf") to one barrel ("bbl"). Boe may be misleading, particularly if used in isolation. A conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil comparedwith natural gas is significantly different from the energy equivalency conversion ratio of 6:1, utilizing a conversion on a 6:1 basis is not an accurate reflection of value.

Throughout this presentation, crude oil refers to tight, light, medium, and heavy crude oil product types as defined by National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (“NI 51-101”). Natural gas refers toshale gas and conventional natural gas product types as defined by NI 51-101. ARC’s production of conventional natural gas is considered to be immaterial. ARC’s core producing properties that are considered to be shale gasinclude Attachie, Dawson, Parkland (including parts of Tower), and Sunrise, and as such, natural gas, condensate, and natural gas liquids (“NGLs”) are disclosed. ARC’s core producing properties that are considered to be tight oilinclude Ante Creek and parts of Tower, and as such, crude oil, natural gas, and NGLs are disclosed. ARC’s core producing property that is considered to be light crude oil is Pembina, and as such, crude oil, natural gas, and NGLsare disclosed. NGLs for Kakwa refer to natural gas liquids, except for condensate, which is reported separately. Natural gas for Kakwa refers to conventional natural gas and shale gas combined.

Throughout this presentation, when condensate is disclosed, it is done so as it is the product type that is measured at the first point of sale. As per the Canadian Oil and Gas Evaluation (“COGE”) Handbook, condensate is a by-product of the NGLs product type. NGLs by-products include ethane, butane, propane, and pentanes-plus (condensate).

Advisory – Credit RatingsCredit ratings are intended to provide investors with an independent measure of credit quality of an issue of securities. Credit ratings are not recommendations to purchase, hold, or sell securities and do not address the market priceor suitability of a specific security for a particular investor. There is no assurance that any rating will remain in effect for any given period of time or that any rating will not be revised or withdrawn entirely by the rating agency in thefuture if, in its judgment, circumstances so warrant.

05/05/2021 15

32

Advisory StatementsCombined Pro Forma Reconciliations

Combined Pro Forma Free Funds Flow

$ millions For the three months ended March 31, 2021

Seven Generations

Cash provided by operating activities 327.5

Change in non-cash working capital (53.1)

Change in other long-term liabilities related to operating activities 26.2

Funds from operations 300.6

Investments in oil and natural gas assets (148.3)

Seven Generations free funds flow 152.3

ARC free funds flow(2) 148.2

Combined pro forma free funds flows 300.5

(1) Refer to Note 9 “Capital Management” in ARC’s financial statements as at and for the three months ended March 31,2021 and to the sections entitled “Funds from Operations” and “Capitalization, Financial Resources and Liquidity” inARC’s MD&A.

(2) Non-GAAP measure that does not have any standardized meaning under IFRS and therefore may not be comparableto similar measures presented by other entities. Refer to the section entitled “Non-GAAP Measures” in ARC’s MD&A.

Combined Pro Forma Funds from Operations

$ millions For the three months ended March 31, 2021

Seven Generations

Cash provided by operating activities 327.5

Change in non-cash working capital (53.1)

Change in other long-term liabilities related to operating activities 26.2

Seven Generations funds from operations 300.6

ARC funds from operations(1) 273.9

Combined pro forma funds from operations 574.5

Combined Pro Forma Net Debt excluding Lease Obligations

$ millions As at March 31, 2021

Seven Generations

Senior notes 1,536.8

Credit facility draws 180.0

Long-term portion of lease liabilities 50.1

Long-term portion of share-based compensation liability 7.1

Current assets (411.8)

Current liabilities 567.9

1,930.1

Current portion of risk management assets 22.5

Current portion of risk management liabilities (115.6)

Net debt 1,837.0

Long-term lease liabilities (50.1)

Seven Generations net debt excluding lease obligations 1,786.9

ARC net debt excluding lease obligations(1) 568.0

Combined pro forma net debt excluding lease obligations 2,354.9

This presentation includes certain financial and operational results of Seven Generations for the three months ended March 31, 2021, which are derived from the unaudited condensed interim consolidated financial statements ofSeven Generations as at and for the three months ended March 31, 2021 (the "Seven Generations Financial Statements"). The Seven Generations Financial Statements have been prepared in accordance with IFRS following thesame accounting policies as the annual audited consolidated financial statements of Seven Generations as at and for the years ended December 31, 2020 and 2019. Copies of the annual audited consolidated financial statementsof Seven Generations as at and for the years ended December 31, 2020 and 2019 are available under Seven Generations' SEDAR profile at www.sedar.com. The Seven Generations Financial Statements were reviewed andapproved by the Board of Directors of Seven Generations, consisting of ARC management, on April 29, 2021, and were reviewed by the Audit Committee of ARC on May 5, 2021. These results are included to provide the reader withan understanding of how ARC established its expectations of the financial and operational results of the Company for the balance of 2021 and beyond following the completion of the Business Combination. In this presentation,when these financial and operational results are added to the results of ARC for the three months ended March 31, 2021, they are referred to as "combined pro forma" results and assume the completion of the BusinessCombination as of such date. The combined pro forma results stated herein do not have any standardized meanings under IFRS and therefore may not be comparable to similar measures presented by other entities.

33

Advisory StatementsReserves DisclosuresAll reserves in this presentation are, unless indicated otherwise, as at December 31, 2020 as evaluated by GLJ Ltd. in accordance with the definitions, standards, and procedures contained in the COGE Handbook and NI 51-101.Kakwa reserves are as at December 31, 2020 as evaluated by McDaniel & Associates Consultants Ltd.

All reserves and resources volumes for the Montney and elsewhere in this presentation are company gross.

Gas volumes are “sales” for reserves.

The amount of natural gas and liquids ultimately recovered from ARC’s the Montney resource will be primarily a function of the future price of both commodities.

Reserves are estimated remaining quantities of crude oil and natural gas and related substances anticipated to be recoverable from known accumulations, as of a given date, based on the analysis of drilling, geological,geophysical, and engineering data; the use of established technology; and specified economic conditions, which are generally accepted as being reasonable. Reserves are classified according to the degree of certainty associatedwith the estimates as follows:

Proved Reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves.

Probable Reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimatedproved plus probable reserves.

05/05/2021 16

34

Investor Relations Contacts

Visit ARC’s website at www.arcresources.com and ARC’s SEDAR profile at www.sedar.com

Kris Bibby

Senior Vice President and Chief Financial Officer

403.503.8675

[email protected]

Martha Wilmot

Investor Relations Analyst

403.509.7280

[email protected]

General Investor Relations Enquiries

403.503.8600

1.888.272.4900

[email protected]

05/05/2021 17

2021 2020 2019($ millions, except per share amounts) Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2FINANCIAL RESULTSCommodity sales from production 525.3 363.1 285.0 217.9 269.5 325.1 253.7 282.9

Per share, basic 1.49 1.03 0.81 0.62 0.76 0.92 0.72 0.80Per share, diluted 1.48 1.02 0.81 0.62 0.76 0.92 0.72 0.80

Net income (loss) 178.0 120.8 (66.1) (43.5) (558.4) (10.2) (57.2) 94.4Per share, basic 0.50 0.34 (0.19) (0.12) (1.58) (0.03) (0.16) 0.27Per share, diluted 0.50 0.34 (0.19) (0.12) (1.58) (0.03) (0.16) 0.27

Funds from operations(1) 273.9 212.0 144.6 150.2 160.8 172.8 145.4 193.0Per share, basic 0.78 0.60 0.41 0.42 0.46 0.49 0.41 0.54Per share, diluted 0.77 0.60 0.41 0.42 0.46 0.49 0.41 0.54

Free funds flow(2) 148.2 135.3 92.0 106.1 (9.0) 31.1 (16.5) 18.8Per share, basic 0.42 0.38 0.26 0.30 (0.03) 0.09 (0.05) 0.05Per share, diluted 0.42 0.38 0.26 0.30 (0.03) 0.09 (0.05) 0.05

Dividends declared 21.3 21.3 21.2 21.3 42.5 53.1 53.1 53.1Per share(3) 0.06 0.06 0.06 0.06 0.12 0.15 0.15 0.15

Total assets 6,011.1 4,954.2 4,982.9 5,136.8 5,172.6 5,778.3 5,819.2 5,878.9Total liabilities 3,062.8 2,163.6 2,292.7 2,360.3 2,332.4 2,338.4 2,317.1 2,267.7Net debt(1) 613.6 742.7 867.8 961.1 1,079.7 940.2 945.5 829.2Net debt excluding lease obligations(1) 568.0 693.5 834.2 923.0 1,037.3 894.0 897.4 779.3Weighted average shares, basic 353.4 353.4 353.4 353.4 353.4 353.4 353.4 353.4Weighted average shares, diluted 354.4 354.3 353.4 353.4 353.4 353.4 353.4 353.9Shares outstanding, end of period 353.4 353.4 353.4 353.4 353.4 353.4 353.4 353.4CAPITAL EXPENDITURESGeological and geophysical 2.0 2.5 2.4 3.4 6.5 0.9 1.1 0.3Drilling and completions 90.3 68.1 40.8 31.8 131.3 86.7 101.0 110.1Plant and facilities 21.8 3.1 5.9 8.3 25.8 47.5 51.1 56.2Maintenance and optimization 4.4 1.5 2.1 1.4 4.4 3.0 6.2 5.8Corporate 7.2 1.5 1.4 (0.8) 1.8 3.6 2.5 1.8Total capital expenditures 125.7 76.7 52.6 44.1 169.8 141.7 161.9 174.2Undeveloped land — — — — — — 0.7 —Total capital expenditures, including undeveloped

land purchases 125.7 76.7 52.6 44.1 169.8 141.7 162.6 174.2Acquisitions — 61.6 — 0.5 2.5 — — —Dispositions (0.1) (63.2) — (0.6) (2.4) (1.1) (2.8) (0.9)Total capital expenditures, undeveloped land

purchases, and net acquisitions and dispositions 125.6 75.1 52.6 44.0 169.9 140.6 159.8 173.3OPERATIONAL RESULTSProduction

Crude oil (bbl/day) 13,647 15,554 15,373 14,987 16,997 17,083 16,782 18,272Condensate (bbl/day) 13,812 14,715 14,831 13,239 11,262 10,937 10,846 10,230Crude oil and condensate (bbl/day) 27,459 30,269 30,204 28,226 28,259 28,020 27,628 28,502Natural gas (MMcf/day) 794.1 783.1 708.2 773.3 692.2 669.0 595.4 596.4NGLs (bbl/day) 10,620 8,678 10,208 9,405 8,152 8,123 7,952 7,041Total (boe/day) 170,430 169,468 158,444 166,510 151,783 147,650 134,813 134,938

Average realized prices, prior to risk management contractsCrude oil ($/bbl) 64.46 48.14 45.45 25.88 49.69 65.11 64.79 70.26Condensate ($/bbl) 71.59 53.55 48.49 31.54 57.52 68.08 65.70 71.38Natural gas ($/Mcf) 4.60 2.88 2.16 1.92 2.05 2.36 1.54 1.74NGLs ($/bbl) 29.45 18.03 14.85 10.84 6.36 11.69 5.25 7.71Oil equivalent ($/boe) 34.25 23.29 19.55 14.38 19.52 23.93 20.46 23.04

TRADING STATISTICS(4)

($, based on intra-day trading)High 8.67 7.20 6.94 6.12 8.39 8.26 7.85 9.61Low 5.88 5.66 4.54 3.64 2.42 5.40 5.37 6.37Close 7.72 6.00 5.95 4.56 4.05 8.18 6.31 6.41Average daily volume (thousands) 3,125 1,582 1,363 2,177 3,207 2,583 1,838 2,255

FINANCIAL ANDOPERATIONAL HIGHLIGHTS

(1) Refer to the "Capital Management" note in ARC’s financial statements and to the sections entitled "Funds from Operations" and “Capitalization,Financial Resources and Liquidity” contained within ARC’s MD&A.

(2) Non-GAAP measure that does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented byother issuers. Refer to the section entitled “Non-GAAP Measures” contained within ARC’s MD&A.

(3) Dividends per share are based on the number of shares outstanding at each dividend record date.(4) Trading statistics denote trading activity on the Toronto Stock Exchange only.

DIRECTORS Harold N. Kvisle Board Chair Marty L. Proctor(1)(2)

Board Vice-Chair Farhad Ahrabi(1)(3) David R. Collyer(4)(5) Susan C. Jones(2)(4) William J. McAdam(1)(2) Michael G. McAllister(2)(4) Kathleen M. O’Neill(1)(5) M. Jacqueline Sheppard(4)(5) Leontine van Leeuwen-Atkins(1)(3) Terry M. Anderson(1) Member of Risk Committee (2) Member of Safety, Reserves and Operational Excellence Committee (3) Member of Audit Committee (4) Member of Human Resources and Compensation Committee (5) Member of Policy and Board Governance Committee

SENIOR MANAGEMENT Terry M. Anderson President and CEO

Kris J. Bibby Senior Vice President and CFO

David B. Holt Senior Vice President and COO

Lara M. Conrad Senior Vice President, Development

Armin Jahangiri Senior Vice President, Capital Projects

CORPORATE CALENDAR June 22, 2021 Annual Meeting of Shareholders

July 29, 2021 Q2 2021 Results

November 4, 2021 Q3 2021 Results

STOCK EXCHANGE LISTING Toronto Stock Exchange

EXECUTIVE OFFICE ARC Resources Ltd. 1200, 308 – 4th Avenue S.W. Calgary, Alberta T2P 0H7

T 403.503.8600 TOLL FREE 1.888.272.4900 F 403.503.8609

www.arcresources.com

TRANSFER AGENT Computershare Trust Company of Canada 600, 530 – 8th Avenue S.W. Calgary, Alberta T2P 3S8

T 403.267.6800

AUDITORSPricewaterhouseCoopers LLP Calgary, Alberta

ENGINEERING CONSULTANTS GLJ Ltd. Calgary, Alberta

LEGAL COUNSELBurnet, Duckworth & Palmer LLP Calgary, Alberta

http://www.arcresources.com/

investor presentation - arc resources

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