Greenfire Resources Ltd.

Greenfire maintained a total of 56 gross (48 net) horizontal wells capable of producing bitumen as of December 31, 2024, and December 31, 2023. Bythe end of 2024, the Company has drilled 16 redevelopment wells, which are accounted for within its SAGD well pair inventory. Over the past three fiscal years, Greenfire has not drilled any exploratory wells or recorded any dry exploratory or development wells.

As evaluated by McDaniel as of December 31, 2024, Greenfire’s proved undeveloped reserves are associated with planned well locations within an AER approved development area. These locations are situated within three miles of existing bitumen-producing wells at the Company’s Expansion Asset and Demo Asset. The development of Greenfire’s proved undeveloped reserves is planned to proceed systematically. Additional well pairs, , and infill wells will be drilled, as required, to utilize available steam capacity as existing well pairs complete their steam injection phases. The forecasted production lifespan of Greenfire’s proved reserves extends approximately 33 years from the evaluation date. As of December 31, 2024, Greenfire has no properties with attributed reserves that are capable of production but are not producing.