This document summarizes a presentation given by representatives from Cenovus Energy and Edgewater Ranzal about developing a fully integrated long-range planning process. It includes overviews of the two companies, an explanation of the purpose and challenges of long-range planning from Cenovus' perspective, considerations for development of an integrated plan, and a demonstration of Edgewater's Hyperion Strategic Finance software and how it could help Cenovus integrate their planning.

1. ONE Company, ONE Team:
Developing a Fully Integrated
Long-Range Plan
Kent Sweezey
Cenovus Energy
Corporate Planning
Steve Coverick
Edgewater Ranzal
Strategic Planning
Practice
October 30, 2013

2. Agenda
Company Overviews
Long-Range Planning Overview
Development Considerations
EPM Platform
High Level Demonstration
Questions & Answers

3. Company Overview: Cenovus
TSX, NYSE | CVE
Enterprise value
$29 billion
Shares outstanding
756 MM
2013F production
Oil & NGLs
Natural gas
2012 proved & probable
reserves
183 Mbbls/d
515 MMcf/d
3.1 BBOE
Bitumen
Economic contingent
resources*
9.6 Bbbls
Discovered bitumen
initially in place*
93 Bbbls
1.5 MM net
acres
Lease rights**
P&NG rights
5.5 MM net
acres
Refining capacity
229 Mbbls/d
Values are approximate. Forecast production based on midpoints of the July 24, 2013 guidance document. Cenovus land at December 31, 2012. *See advisory.
**Includes an additional 0.5 million net acres of exclusive lease rights to lease on our behalf and our assignee’s behalf. © 2013 Cenovus Energy Inc.

4. Company Overview: Cenovus
Mbbls/d
Volumes are shown before royalties and net to Cenovus. 2013F based on midpoints of the July 24, 2013 guidance document. 2014F - 2023F based on future price
assumptions as noted in the advisory. Forecast volumes are estimates only and subject to regulatory and partner approvals. See advisory. © 2013 Cenovus Energy Inc.

5. Company Overview: Edgewater
►
NASDAQ: EDGW
►
The Boston Globe’s Top 100 Business
►
Edgewater
Top 500 fastest-growing stocks on Wall Street
Ranzal
Planning
2001
Planning
Founded in
1996
Essbase
Acquired
Vertical Pitch
2007
HFM/
FDM
Acquired by
Edgewater
2004
Data
Integration &
Warehousing/
CRM/
Web 2.0
Build
OBI Team
2011
OBIEE
Acquired
Meridian
2010
HSF
Build DRM &
HPCM Teams
2009
DRM &
HPCM
►
►
►
►
One of the largest Full-Service
Oracle/Hyperion EPM and BI
practices
Oracle Platinum Partner
Multiple Oracle Partner of the Year
awards
Premier Consulting Services in North
America and Europe

6. Company Overview: Edgewater
Business
Intelligence
Consolidation
Planning
Project
Management
Infrastructure
Data
Services
Support
Services
Training

7. LRP Overview: Purpose
Budget
Foundation
Stewardship
and Capital
Discipline
Sensitivity
and Scenario
Analysis
Collaboration

8. LRP Overview: High Level Process
Executive Guidance
Forecasts and Analyses
Review and Communication

9. LRP Overview: CP’s Role
•
•
•
•
•
Corporate forecast model
Data sources integration
Financial and operational reports
Sensitivity and scenario analyses
Reporting consistency
Budget
Outlook
LRP

10. LRP Overview: Challenges
•
•
•
•
•
Complex and segregated spreadsheets
Cumbersome scenario analyses
Limited documentation
Version control
Duplicated efforts

11. Development Considerations
• Spend time on model design
–
–
–
–
–
–
–
Actuals  Outlook/Budget  LRP integration
Understand routine / non-routine transaction impact
Focus on strategic imperatives
Corporate hierarchy views (i.e. legal vs mgmt)
Customized handling of data sources
Naming convention
Global assumptions

12. Development Considerations
360o training
Customized
Reports
Micro and
Macro Testing
Documentation
Global
Sensitivities
Flexibility
Integration
Maintenance

13. EPM Platform: Integration
Hyperion
Planning
Ops
Planning
HSF
Essbase
Other
Inputs
13
Excel
Reporting

14. EPM Platform: HSF
Economic Shifts
Predictive Modeling & Simulation
Capacity Planning
Long-Term (3-5 Year)
Full Financial Statement
Projections
Key Performance Metrics
New Product Offerings
Acquisitions / Divestitures
Product Pricing
Commodity Pricing
Growth Initiatives
Long-Term Financial
Planning
Value
Management
Discounted Cash Flow
Economic Value Added
Liquidation Value
What-if
Analysis
Corporate
Development
Treasury
Strategies
Capital Structure
Debt Issuances/Payments
Covenant Analysis
Credit Ratings

15. High Level Demonstration

16. Pre-Built Accounting Integrity
• Pre-built, fully integrated financial statement foundation
• Pre-built forecast methods and formula functions
• What-if Analysis toolkit

17. Powerful Scenario Capabilities

18. Easily Analyze Various Combinations
Mix and Match
Scenarios
Capital Projects
included
Acquisition excluded

19. World Class Treasury Analysis
• Calculates net cash
surplus or deficit from
multiple models and
scenarios
• Funding Options tool
to re-allocate
surpluses and fund
deficits
• Debt scheduler
• User-defined reports
to monitor covenants,
credit ratings, and
earnings per share

20. Acquisition/Divestiture Modeling

21. Set Strategic Targets in HSF

22. Align the Planning Process

23. Seed Budgets with Strategic Targets
From
Strategic Plan

24. Tweak Budget with Targets in Mind

25. Update Targets with Latest Forecast

26. Cenovus Forward Looking Information

27. Cenovus Oil & Gas and Financial Information