Cenovus has entered into various commitments in the normal course of operations. Commitments that have original maturities less than one year are excluded from the table below. Future payments for the Company’s commitments are below:


As at September 30, 2026	Remainder of Year	2 Years	3 Years	4 Years	5 Years	Thereafter	Total
Transportation and Storage (1) (2)	670	2,596	2,714	3,349	3,069	33,495	45,893


Real Estate	16	65	68	70	70	474	763
Obligation to Fund HCML	26	97	56	43	43	61	326
Other Long-Term Commitments	447	206	175	128	125	540	1,621
Total Commitments	1,159	2,964	3,013	3,590	3,307	34,570	48,603

(1)Includes transportation commitments that are subject to regulatory approval or were approved but are not yet in service of $19.8 billion. Terms are up to 56 years on commencement.

(2)As at September 30, 2026, includes $1.7 billion related to transportation and storage commitments with HMLP.

There were outstanding letters of credit aggregating to $368 million (December 31, 2025 – $341 million) issued as security for financial and performance conditions under certain contracts.

Cenovus is involved in a limited number of legal claims associated with the normal course of operations. Cenovus believes that any liabilities that might arise from such matters, to the extent not provided for, are not likely to have a material effect on its interim Consolidated Financial Statements.

The tax regulations and legislation and interpretations thereof in the various jurisdictions in which Cenovus operates are continually changing. As a result, there are usually a number of tax matters under review. Management believes that the provision for taxes is adequate.