OVV

• Ovintiv entered into over 60 transactions year-to-date, adding approximately 41,000 net acres across Montney and Permian assets for a total acquisition cost of approximately $460 million.
• In the Permian Midland basin, Ovintiv is acquiring approximately 21,000 net acres and 120 well locations for approximately $230 million.
• In the Montney liquids-rich Alberta oil window, Ovintiv is acquiring approximately 20,000 net acres and 120 well locations for approximately $230 million.
• Including 260 locations from organic inventory enhancement, Ovintiv will have added approximately 500 net well locations year-to-date; remaining transactions are expected to close before year-end.

7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• Average Q2 production of 615 MBOE/d, including 206 Mbbls/d oil and condensate, above guidance high end.
• Non-GAAP Cash Flow of ~$1.3 billion and Non-GAAP Free Cash Flow of $682 million after $574 million capital expenditures.
• Full-year 2026 production guidance raised to 630-645 MBOE/d; capital guidance unchanged at $2.25-$2.35 billion.
• Quarterly dividend of $0.30 per share declared, payable September 29, 2026.

2.02 Results of Operations and Financial Condition · 8.01 Other Events · 9.01 Financial Statements and Exhibits

• Cash from operating activities was $1.1 billion; Non-GAAP Cash Flow was $1.2 billion and Non-GAAP Free Cash Flow was $634 million.
• Average production was 679 MBOE/d, including 225 Mbbls/d of oil and condensate, at the high end of guidance.
• Closed the acquisition of NuVista Energy Ltd. for approximately $2.8 billion and sold Anadarko assets for approximately $2.85 billion in cash proceeds.
• Declared a quarterly dividend of $0.30 per share, payable June 30, 2026, to shareholders of record June 15, 2026.

2.02 Results of Operations and Financial Condition · 8.01 Other Events · 9.01 Financial Statements and Exhibits

• The non-binding advisory vote on named executive officer compensation passed with 212,529,856 shares for (96.66%).
• Shareholders ratified PricewaterhouseCoopers LLP as independent auditors with 229,536,390 shares for (97.66%).
• The results were reported in an 8-K filed May 8, 2026, under Item 5.07 (Submission of Matters to a Vote of Security Holders).
• A news release dated May 8, 2026, was furnished as Exhibit 99.1.

5.07 Submission of Matters to a Vote of Security Holders · 9.01 Financial Statements and Exhibits

• Proceeds from the sale are expected to total approximately $2.85 billion after customary closing adjustments, according to the company's press release.
• Ovintiv intends to repay C$1.57 billion under its Two-Year Term Credit Agreement on April 10, 2026, and terminate the agreement.
• Ovintiv provided notice to redeem all $700 million aggregate principal amount of its 5.650% Notes due 2028 on April 20, 2026.
• The company stated the sale completes the transformation of its portfolio and balance sheet, with proceeds going to debt reduction.

1.02 Termination of a Material Definitive Agreement · 2.01 Completion of Acquisition or Disposition of Assets · 7.01 Regulation FD Disclosure · 8.01 Other Events · 9.01 Financial Statements and Exhibits

• The transaction involves the sale of all equity interests in a newly formed Texas LLC holding Ovintiv's Oklahoma oil and gas assets, with an economic effective date of January 1, 2026.
• The purchase price is $3.0 billion in cash, subject to customary closing adjustments, with a $200.0 million deposit to be placed in escrow within one business day of execution.
• Closing is subject to customary conditions, including regulatory approvals (e.g., HSR waiting period) and the completion of a pre-closing reorganization, with an outside closing date of May 11, 2026 (subject to extension).
• The Purchase Agreement includes termination rights and remedies, including liquidated damages (retention of deposit) for seller termination due to buyer breach, and buyer's ability to recover out-of-pocket expenses up to 5% of the unadjusted purchase price for seller breach.

1.01 Entry into a Material Definitive Agreement · 9.01 Financial Statements and Exhibits

• Fourth-quarter 2025 net earnings were $946 million, or $3.70 per diluted share, including $38 million after-tax ceiling test impairments.
• Full-year 2025 cash from operating activities was $3.7 billion; Non-GAAP Free Cash Flow was $1.6 billion after capital expenditures of $2.1 billion.
• Board declared a quarterly dividend of $0.30 per share, payable March 31, 2026, to shareholders of record March 13, 2026.
• 2026 capital program of $2.25–$2.35 billion expected to deliver total production of 620–645 MBOE/d; shareholder returns set at least 75% of Non-GAAP Free Cash Flow.

2.02 Results of Operations and Financial Condition · 8.01 Other Events · 9.01 Financial Statements and Exhibits

• Ovintiv Inc. entered a definitive agreement to sell its Anadarko assets in Oklahoma to an undisclosed buyer for $3.0 billion in cash.
• February month-to-date production from the assets is about 90 thousand barrels of oil equivalent per day, including ~27 thousand barrels per day of oil and condensate.
• The transaction is expected to close early in the second quarter of 2026, with an effective date of January 1, 2026, subject to customary conditions.
• Wells Fargo is financial advisor and Kirkland & Ellis LLP is legal advisor to Ovintiv on the transaction.
• Ovintiv plans to issue full-year and Q1 2026 guidance and updated shareholder return framework on February 23, 2026.

7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits