Eagle Energy Inc. Investor Fact Sheet

TSX: EGL | February 2016

About Eagle

Eagle is an oil and gas energy corporation created to provide investors with a sustainable business while delivering stable production and overall growth through accretive investments and acquisitions. Eagle’s shares are traded on the Toronto Stock Exchange under the symbol “EGL.” Eagle’s strategy is to acquire and exploit conventional long-life hydrocarbon reserves in certain established production basins in North America. Eagle owns stable, oil producing properties with development and exploitation potential in Canada and the United States.

On January 27, 2016, Eagle acquired Maple Leaf Royalties Corp. (“Maple Leaf”) by way of plan of arrangement (the “Arrangement”) and converted into a

corporation called “Eagle Energy Inc.” For more information, see Eagle’s news release’s issued on November 20, 2015, and January 27, 2016.

EXPERTISE Eagle combines innovation, expertise and opportunity to

create wealth for investors

Eagle targets petroleum assets that have attractive metrics for:

Post acquisition growth, followed by long term stability

Strong returns on capital

Sustainable cash flows to underpin dividends

$- $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00

Painted Pony Petroleum

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Surge Energy

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ARC Resources

Peyto Exploration

Seven Generations

Northern Blizzard

Eagle Energy Trust

TORC O&G

Lightstream Resources

Crescent Point Energy

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Bonterra Energy

RMP Energy

Raging River Exploration

$5.95

$7.10

$7.92

$9.31

$9.84

$10.89

$11.00

$11.30

$11.72

$11.98

$12.99

$13.10

$13.32

$13.35

$13.57

$15.05

$15.08

$15.20

$15.50

$15.57

$16.10

$16.14

$16.45

$17.68

$20.96 $21.71

$22.14

$23.55

$24.15

$28.06

$29.77

$36.42

Our Properties

Eagle owns stable, oil producing properties with devel-

opment and exploitation potential located in Canada

(Alberta) and in the US (Texas and Oklahoma).

Twining Field Properties, AB:

- Located in the Pekisko oil pool formation in the Twining field in East-Central Alberta - 92 gross (48 net) producing wells - Approximately 41,502 gross (32,650 net) acres

Dixonville Properties, AB:

- Non-operated - Located 50 kms northwest of Peace River - 110 gross (55 net) producing oil wells - 80 gross (40 net) water injectors - 18,000 acres

Salt Flat Properties, TX:

- Located in the Salt Flat field in Caldwell County, TX - 56 gross (42 net) producing wells - 19 gross (13 net) non producing wells - 3,300 (2,700 net) acres

Hardeman Properties, TX & OK:

- Located in the Hardeman Basin in Hardeman County,

TX, and Greer, Harmon and Jackson Counties, OK

- 47 gross (37 net) producing wells

- 14 gross (13 net) non-producing

- 79,000 acres

Q3 2015 Field Netback ($/BOE) (Junior & Intermediate Comparison)

Source: Company reports; Acumen Capital Partners. - Field netback is a non-IFRS measure, calculated by subtracting royalties, operating costs and transportation from revenue. - Based on the three months ended September 30, 2015. Natural gas converted at 6:1.

Revised 2016 Guidance(1)

Capital Budget $5.0 MM

Working Interest Production 3,200 to 3,600 boe/d

Operating Costs per month $2.2 to $2.6 MM

Funds Flow from Operations $12.6 MM

Debt to Trailing Cash Flow 5.0x

Field Netback (excluding Hedges) $12.32/boe

Notes:

(1) See Eagle’s News Release dated February 11, 2016, “ Eagle Energy Inc. Reduces 2016 Capital Budget, Trims Monthly Dividend and Adds Short-Term Hedges,” for assump-tions, risk factors and cautions that pertain to Eagle’s 2016 guidance and other forward-looking information in this fact sheet.

Inc.

Eagle Energy Inc.

Investor Fact Sheet

February 2016

info@EagleEnergy.com

Management Team________

Richard W. Clark

President, Chief Executive Officer

and Director

J. Wayne Wisniewski

Chief Operating Officer

Kelly A. Tomyn

Chief Financial Officer

Eric C. McFadden

Vice President, Capital Markets &

Business Development

M. Scott Lovett

Vice President, Corporate & Business Development

Jo-Anne M. Bund

General Counsel/Corporate Secretary

Directors________________

David M. Fitzpatrick

President and Chief Executive Officer

Veresen Midstream

Bruce K. Gibson

Former Vice President and Chief Financial Officer

Shiningbank Energy Income Fund

Warren D. Steckley

Former President, Chief Operating Officer and Director

Barnwell of Canada Limited

Richard W. Clark

President, CEO and Director

Eagle Energy Inc.

Analysts________________

Acumen Capital Partners

Paradigm Capital

Scotiabank Global

TSX: EGL

Calgary Office Houston Office

Eagle Energy Inc. Eagle Hydrocarbons Inc.

Suite 2710, 500 - 4th Avenue SW Suite 3005, 333 Clay Street

Calgary, Alberta T2P 2V6 Houston, Texas 77002

QUALITY Eagle owns and operates in petroleum producing areas in Canada and

the U.S. with stable production

Eagle seeks to acquire and develop assets with sustainable cash flows and low risk

unexploited potential. Eagle manages its capital spending and dividends to deliver

moderate but sustainable growth.

Production History & Forecast (boe/d)

INCOME Eagle’s assets have attractive metrics for sustainable cash flows that

underpin dividends

Eagle strives to deliver sustainable monthly dividends to its shareholders.

Eagle’s current dividend is $0.01 per share per month ($0.12 annualized).

Notes:

(1) Q4/14 production is after the Permian asset disposition and before the Dixonville asset acquisition.

(2) 2016 guidance on the chart is the mid-point of the full year 2016 working interest production guidance range and includes working interest production from the acquisition of Maple Leaf (but excludes royalty interest production).

(3) Including the January 2016 acquisition of Maple Leaf, which adds approximately 235 boe/d of royalty interest production (30% oil and liquids) and 161 boe/d of non-operated working interest production (30% oil and liquids) to Eagle’s 2016 average production.

• Current working interest production of 3,850 boe/d(3)