1 Per barrel of oil equivalent (boe) amounts have been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel of oil equivalent (6:1). BOE may be misleading, particularly if used in isolation. A boe conversion ratio of 6 mcf:1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In addition, as the value ratio between natural gas and crude oil based on current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

2 Emissions are calculated using locally regulated methodology or locally recognized industry standards. Refer to the full 2020 Sustainability Report regarding the restatement disclosure. Methodologies used to collect activity data and calculate scope 1 and scope 2 emissions, include but are not limited to, IPCC Fourth Assessment Report, 2007, Western Climate Initiative (WCI) Final Essential Requirements of Mandatory Reporting: Amended for Canadian Harmonization, 2013, Alberta Greenhouse Gas Quantification Methodologies (Technology Innovation and Emission Reduction Regulation) Version 2.2, ISO 14064-3, Alberta Greenhouse Gas Quantification Methodologies (AQM), Canada’s Greenhouse Gas Quantification Requirements, AER Directives 060 and 017, ECCC Guide for reporting to the NPRI, and WRI/WBCSD GHG Protocol. Emissions data has been consolidated in alignment with operational-control. Tourmaline has noted that there would be immaterial differences in the emission data had it been consolidated using financial-control.

3 EY has provided limited assurance over Tourmaline’s direct (scope 1) for the 2021 & 2022 period & indirect (scope 2) emissions for the 2021 period.

4 Direct (scope 1) GHG emissions are from sources that are owned or controlled by Tourmaline.

5 Indirect (scope 2) GHG emissions are reported as gross location-based emissions. Tourmaline has assessed that its location-based and market based emissions are equivalent.

6 Indirect (scope 2) GHG emissions are energy-related emissions that are the consequence of our operations, but occur at sources owned or controlled by another company (i.e. purchases of electricity).

7 Methane emissions represents methane from venting and fugitive emissions. Methane associated with combustion and flaring is accounted for in their respective categories above. Methane emissions within the combustion and flaring categories is estimated using emission factors.

8 Water management data was not recorded for NEBC and Spirit River prior to 2015. 2018 water volumes restated based on internal data verification that was performed in 2021.

9 A contractor was fatally injured in 2021 as a result of a motor vehicle accident.

10Voluntary turnover is the percentage of employees who leave Tourmaline under any circumstance, including retirement, in the reporting year.

11Economic value distributed to suppliers comprises all operating, transportation and general and administrative expenses as well as capital expenditures that are paid to suppliers other than employees, landowners, governments and for purposes of charitable donations. All figures are presented on an accrual basis.

12 Economic value distributed to providers of capital includes interest expense paid in cash and cash dividends paid.

13 Economic value distributed to governments includes Crown royalty obligations, corporate income taxes, property and business taxes, carbon taxes, provincial sales taxes as well as consideration paid to governments for surface rights of Crown-owned land and government licenses, fees and permits. Excludes contributions to government pension plans and government employment insurance premiums made on behalf of employees. All figures are presented on an accrual basis. Due to the use of different reporting frameworks, figures presented will not necessarily conform to those presented under the Extractive Sector Transparency Measures Act (ESTMA).

14 Economic value distributed to employees comprises salaries, bonus and employee benefits. Employee salaries and benefits includes stock option benefits and amounts paid to governments on behalf of employees.

15 Economic value distributed to landowners comprises land access payments and royalty obligations to individuals and corporations associated with non-Crown owned lands.

16 Economic value distributed to communities comprises contributions to Indigenous communities, charitable and not-for-profit organizations.