Corporate Presentation - pieridaeenergy.com

1 Corporate PresentationJanuary 10, 2019 PieridaeEnergy StatementsTheinformationin thispresentationis notanofferorrecommendationtopurchaseorsu bscribeforsecuritiesinanyoneormoreentiti esinthePieridaeEnergyortoretainorsellany securitiescurrentlybeingheld. Thispresentationdoesnottakeintoaccount,n orisit intendedtotakeintoaccount,thepotentialan d/orcurrentindividualinvestmentobjective sand/orthefinancialsituationofinvestors. Thispresentationwaspreparedwithduecarean dattentionandtheinformationcontainedhere inis,tothebestofPieridaeEnergy sknowledge, ,withoutlimitation,managementplansandass essmentsoffutureplansandoperations,Pieri dae sexpectedoperatingandcapitalbudgets,expe ctedtimingforspendingcapitalassociatedwi thcertainjointventurearrangements,Pierid ae'sfuturebusinessplanandstrategy,Pierid ae'scriteriaforevaluatingacquisitionsand otheropportunities,Pieridae'sintentionsw ithrespecttofutureacquisitionsandotherop portunities,plansandtimingfordevelopment ofundevelopedandprobableresources,timing ofwhenPieridaemaybetaxable,estimatedaban donmentandreclamationcosts,plansregardin ghedging,wellstobedrilled,theweightingof commodityexpenses,compensationavailablef romregulatoryauthorities,andcapitalexpen dituresandthenatureofcapitalexpenditures andthetimingandmethodoffinancingthereof.

2 Mayconstitute forward-lookingstatements or forward-lookinginformation withinthemeaningofapplicablesecuritiesla ws(collectively forward-lookingstatements ). Wordssuchas may , will , should , could , anticipate , believe , expect , intend , plan , potential , continue , shall , estimate , expect , propose , might , project , predict , forecast andsimilarexpressionsmaybeusedtoidentify theseforward-lookingstatements. Thesestatementsreflectmanagement' A numberoffactorscouldcauseactualresultsto differmateriallyfromtheresultsdiscussedi ntheforward-lookingstatementsincluding,b utnotlimitedto,risksassociatedwithoiland gasexploration,development,exploitation, production,marketingandtransportation,lo ssofmarkets,volatilityofcommodityprices, currencyfluctuations,imprecisionofresour cesestimates,environmentalrisks,competit ionfromotherproducers,incorrectassessmen tofthevalueofacquisitions,failuretoreali zetheanticipatedbenefitsofacquisitions,d elaysresultingfromorinabilitytoobtainreq uiredregulatoryapprovalsandabilitytoacce sssufficientcapitalfrominternalandextern alsources.

3 Inaddition,therearerisksinherenttotheind ustry,abilitytoobtainadditionalfinancing ,abilitytorealizebenefitsfromflow-throug hsharefinancing,potentialforchangesinthe competitivelandscape,potentialfutureregu latorychangesandpotentialfuturelitigatio n. TherecoveryandestimatesofPieridae'sresou rcesprovidedhereinareestimatesonlyandthe reisnoguaranteethattheestimatedresources willberecovered. Asa consequence,actualresultsmaydiffermateri allyfromthoseanticipatedin numberoffactorsandassumptionswhichhavebe enusedtodevelopsuchforward-lookingstatem ents,butwhichmayprovetobeincorrect. AlthoughPieridaebelievesthattheexpectati onsreflectedinsuchforward-lookingstateme ntsarereasonable,unduerelianceshouldnotb eplacedonforward-lookingstatementsbecaus ePieridaecangivenoassurancethatsuchexpec tationswillprovetobecorrect. Inadditiontootherfactorsandassumptionswh ichmaybeidentifiedinthisdocument,assumpt ionshavebeenmaderegarding,amongotherthin gs: theimpactofincreasingcompetition;thegene ralstabilityoftheeconomicandpoliticalenv ironmentinwhichPieridaeoperates; thetimelyreceiptofanyrequiredregulatorya pprovals; theabilityofPieridaetoobtainqualifiedsta ff,equipmentandservicesinatimelyandcoste fficientmanner; theabilityoftheoperatoroftheprojectswhic hPieridaehasaninterestin,tooperatethefie ldina safe,efficientandeffectivemanner; theabilityofPieridaetoobtainfinancingona cceptableterms; theabilitytoreplaceandexpandoilandnatura lgasresourcesthroughacquisition,developm entandexploration; thetimingandcostsofpipeline,storageandfa cilityconstructionandexpansionandtheabil ityofPieridaetosecureadequateproducttran sportation;futureoilandnaturalgasprices; currency,exchangeandinterestrates; theregulatoryframeworkregardingroyalties ,taxesandenvironmentalmattersinthejurisd ictionsinwhichPieridaeoperates.

4 Notexhaustive. Additionalinformationontheseandotherfact orsthatcouldaffectPieridae'soperationsan dfinancialresultsareincludedinreportsonf ilewithCanadiansecuritiesregulatoryautho ritiesandmaybeaccessedthroughtheSEDAR website( ), andatPieridae'swebsite( ). Althoughtheforward-lookingstatementscont ainedhereinarebaseduponwhatmanagementbel ievestobereasonableassumptions,managemen tcannotassurethatactualresultswillbecons istentwiththeseforward-lookingstatements . Investorsshouldnotplaceunduerelianceonfo rward-lookingstatements. 'sgeneralexpectationsconcerningthisindus tryarebasedonestimatespreparedbymanageme ntusingdatafrompubliclyavailableindustry sourcesaswellasfromresourcereports, ,thisdataisinherentlyimprecise,althoughg enerallyindicativeofrelativemarketpositi ons, ,theindustryinvolvesrisksanduncertaintie sandis AllamountsarepresentedinCanadiandollarsu nlessotherwisestated. USDollarfiguresinthecontextofthispresent ationhavebeenconvertedintoCanadiandollar sata rateofC$ $ Note Regarding Forward Looking Project Market Update , Financing & Cash & Key Overview Pieridae Energy Limited ( Pieridae ) (TSX-V:PEA) pursues an integrated strategy for producing and marketing liquefied natural gas ( LNG ).

5 Economic value is captured by ownership in gas storage, reserves, production, and significant midstream infrastructure. Pieridae is currently developing a 10 million tonneper annum ( mmtpa ) 2 Train LNG export terminalin Goldboro, Nova Scotia (the Project ) The Project has received all necessary environmental, import, export and construction permits. Pieridae has secured a 20 year, 5 mmtpaofftake agreement with UniperGlobal Commodities, a subsidiary of UniperSE, an investment grade rated German utility company. Pieridae has access to pipeline transport on existing midstream assets which provides a competitive advantage for accessing and producing low-cost western Canada natural gas. The majority of gas supply for Train 1 is secured through western Canada reserves acquired with IkkumaResources Corp. ( Ikkuma average Q3 2018 production was ~ 101mmcf/d)(1) Further plans are underway to purchase low cost, low decline reserves and associated midstream Summary GoldboroLNG acquisition of Ikkumaclosed on December 20, 2018 Foothills Well site 4 Key Partnerships Delivering Value S&P and Scope Ratings Moody s and S&P respectively negotiations and Development Cost Reimbursement Agreement in place December 14, 2018 and December 13, 2018 respectively S&P, Moody s, Fitch and DBRS respectively LNGO fftaker: UniperSE ThroughitssubsidiaryUniperGlobalCommodit ies,Uniperhascommittedtoa 20yeartakeorpayofftakeagreementwithPieri daefor5 mmtpa,representingallofTrain1 or~50%ofthetotalplannedcapacityoftheProj ect Leadingglobalintegratedutilitycompanyope ratinga generationfleetofover36 GWin 40countries InvestmentgraderatingatBBB/BBB+(1)GasTra nsportationProviders.

6 TransCanadaandEnbridge AccesstoTransCanadaandEnbridge sexistingpipelineinfrastructureisaninteg ralpartofPieridae sstrategyprovidingcontractedcapacityconn ectingtheProjecttogasproducingresourcesi n westernCanada Leadingdevelopersandoperatorsofenergyinf rastructure,basedinCalgary,Canada,withTr ansCanadaandEnbridgeratedBBB+/A3/A-/A(lo w)andBBB+/Baa3/BBB+/BBB(high)respectivel y(5)LoanGuarantor: FederalMinistryof EconomicAffairsandEnergy Ministryhasconfirmedeligibilityin principleforanuntiedloanguaranteeofuptoU S$ BnfortheconstructionoftheProject,signifi cantlymitigatingfinancialrisk EligibilityforanadditionalUS$ Bnrecentlyconfirmedtosupportupstreamasse tdevelopmenttobringtotaltoUS$ Bn Germangovernmententitymandatedtosecurere quisiteenergyfortheprosperityandgrowthof Germany LoanguaranteecarriesGermansovereignInves tmentGraderatingofAaa/AAA(2)Engineeringa ndDesignProvider:TBD McDermott(formerlyCB&I)providedtheFront- EndEngineering& Design( FEED )andis in NegotiationstobetheEPCcontractorforthePr ojectareongoing DecisionexpectedshortlyTBD(3)(4)(4)I.

7 Overview5 Unique Integrated Business ModelPieridaeOverview Pieridaeis the only independent, integrated, and publicallytraded LNG company Pieridaeis a Canadian integrated energy infrastructure development company based in Calgary, Alberta. Fully integrated and engaged in all significant parts of the LNG value chain. Pieridae is publicly traded (TSX-V:PEA). Pieridae is currently developing GoldboroLNG, an LNG export terminal located in Goldboro, Nova Scotia. Fully permitted in Canada and the US. Underpinned by a 20-year, 5 mmtpatake-or-pay offtake agreement with Uniper. Integrated Business Model The integrated business model benefits from the steep gas price discount in producing regions while tapping into the more lucrative international LNG Market. Resource ownership allows Pieridae to manage risks and costs across the LNG value chain similar to the very large integrated multinational companies ( super majors ). Further economic upside is obtained through Pieridae sability to optimize capital spending activities on upstream resource development on a year-to-year basis.

8 Model ensures efficient supply chain operations and maximizes Snapshot$CAD, unless otherwise noted Note: As at January 10, 2019 Resource MapNatural gas supply is sourced through ownership in gas resourcesI. OverviewNamePieridae Energy LimitedTickerPEAE xchangeTSX-VShare Price$ Capitalization$ , AlbertaCEOA lfred Project Market Update , Financing & Cash & Key Project Site PlanArtistic Rendering Permit CountryStatus Environmental Assessment Permit NationalEnergy Board LNG Export License National Energy Board LNG ImportLicense US DOE LNG FTA Export Permit USDOE NFTAE xport Permit Construction Permit Permitting Status Project Location The Project is in Nova Scotia, Canada, in the coastal Municipality of the District of Guysborough, ~2 km from the communities of Goldboro and Drum Head. The Project includes two liquefaction trains, each with the annual production capacity of approximately 5 mmtpaof LNG, a power plant to generate the required electricity, two LNG storage tanks as well as marine structures and a jetty to accommodate two LNG carriers of up to 250,000 m3of LNG each.

9 CB&I UK Limited and CB&I Canada Limited, subsequently McDermott, have completed the FEED of the Project. Negotiations are underway for the EPC Contract. An RFP process will be kicked off shortly for the Site Preparation and Camp Overview Operating Statistics Commercial OperationsCommence by Q4 2023 Send-OutCapacityUp to 10 mmtpa(2 Trains)Shipments Expected 7 13 / MonthMax LNG Carrier Capacity145,000 250,000 m3 OnSite Facilities Liquefaction Plant 2 x 5 mmtpaLNG StorageTanks 2 x 190,000 m3 Gas Access Maritime& Northeast Pipeline Direct pipelinefrom offshore TransCanada pipeline Power Generation 200 MWh of on site generation Emergency backup generatorsMarine Facilities 2 x loadingberth Jetty trestle for LNG transfer lines 1 xmarine offloading wharfWater Pipeline &Intake Supply pipeline from Meadow Lake Onsite treatment facilities Buildings &Utilities Admin, control and maintenance Utilities to support the ProjectKey Project Highlights II. GoldboroLNG Project8 Timeline Traditional LNG model that benefits from value differentials between producing and consuming regions Resource ownership allows Pieridae to manage risks and costs across the value chain, similar to the Super Majors Further upside through the ability to optimize capital spending on upstream resource development.

10 This model ensures high operating efficiency and largest possible Corporate netback. An integrated model mitigates the price risk in the North American Gas Market, which can have extreme price volatility. Compares favorably to the tolling model of US LNG producers. Ability to move to marginal cost throughout all components of the value chain in order to manage gas price volatility. A mix of products within the upstream (sulphur, oil, Helium, and NGL s) provides other operating income that will fund components of the business model. Diverse product and market access is crucial for success given potential price volatility. Flexibility to adjust capital allocations depending upon market conditions. Operations of upstream, processing, gas storage, and sales business segments allows for a more efficient use of capital, lower overall costs, and higher profit Model Illustration 20112012 Founded in February 2011 Environmental Assessment Consultation & Engagement Completion of Environmental Assessment Onshore & Offshore investigations Acquisition of land in Goldboro Industrial Park FEED study completed Construction complete Pre FEED completion Executed offtake agreement with Uniper NEB & DOE FT Export Approval DOE NFTexport approval Confirmation of DOE in-transit no jurisdiction Transportation PA s Class 3 engineering estimate Acquisition of Ikkuma Transportation access obtained Received construction permit Reserve development through construction period20132014201520232016201820172019 Soft FIDQ4 2023 First LNGE ngineering & Construction UFK loan guarantee increased to US $ Bn to include Upstream development RTO of Petrolia with associated resource acquisition Obtained public listingUpstream LNG Processing Pieridae ProductionGoldboroLNG LiquefactionFacilityCommercialPermits &