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1. Integrating PCM
Cost Tracking
w/ JDE 9.0

2. Forward-looking information
This presentation contains certain forward-looking statements and other information (collectively “forward-looking information”) about our current expectations, estimates
and projections, made in light of our experience and perception of historical trends. Forward-looking information in this presentation is identified by words such as
“anticipate”, “expect”, “plan”, “forecast” or “F”, “target”, “could”, “focus”, “milestone”, “proposed”, “potential”, “projected”, “objectives”, “may” or similar expressions and
includes suggestions of future outcomes, including statements about our growth strategy and related schedules, projected future value or net asset value, forecast operating
and financial results, planned capital expenditures, expected future production, including the timing, stability or growth thereof, expected future refining capacity, anticipated
finding and development costs, expected reserves and contingent and prospective resources estimates, potential dividends and dividend growth strategy, anticipated
timelines for future regulatory, partner or internal approvals, future impact of regulatory measures, forecasted commodity prices, future use and development of technology
including technology and procedures to reduce our environmental impact and projected increasing shareholder value. Readers are cautioned not to place undue reliance on
forward-looking information as our actual results may differ materially from those expressed or implied.
2013 guidance, dated December 12, 2012, is based on an average diluted number of shares outstanding of approximately 766 million. It assumes Brent US$100.00/bbl, WTI
of US$91.00/bbl; Western Canada Select of US$63.00/bbl; NYMEX of US$4.00/MMBtu; AECO of $3.40/GJ; Chicago 3-2-1 crack spread of US$20.00/bbl; exchange rate of
$1.00 US$/C$. For the period 2014 to 2021 assumptions include WTI of US$90.00-US$105.00/bbl; Western Canada Select of US$76.00-US$85.00/bbl; NYMEX of US$5.25-
US$6.00/MMBtu; AECO of $4.50-$5.25/GJ; Chicago 3-2-1 crack spread of US$9.00; exchange rate of $1.00-$1.07 US$/C$; and average diluted number of shares
outstanding of approximately 769 million.
Developing forward-looking information involves reliance on a number of assumptions and consideration of certain risks and uncertainties, some of which are specific to
Cenovus and others that apply to the industry generally. The factors or assumptions on which the forward-looking information is based include: assumptions
inherent in our current guidance, available at www.cenovus.com; our projected capital investment levels, the flexibility of our capital spending plans and the associated
source of funding; the estimation of quantities of oil, bitumen, natural gas and liquids from properties and other sources not currently classified as proved; our ability to
obtain necessary regulatory and partner approvals; the successful and timely implementation of capital projects or stages thereof; our ability to generate sufficient cash flow
from operations to meet our current and future obligations; and other risks and uncertainties described from time to time in the filings we make with securities regulatory
authorities. The risk factors and uncertainties that could cause our actual results to differ materially, include: volatility of and assumptions regarding oil and gas
prices; the effectiveness of our risk management program, including the impact of derivative financial instruments and the success of our hedging strategies; accuracy of
cost estimates; fluctuations in commodity prices, currency and interest rates; fluctuations in product supply and demand; market competition, including from alternative
energy sources; risks inherent in our marketing operations, including credit risks; maintaining desirable ratios of debt to adjusted EBITDA as well as debt to capitalization;
our ability to access various sources of debt and equity capital; accuracy of our reserves, resources and future production estimates; our ability to replace and expand oil and
gas reserves; our ability to maintain our relationship with our partners and to successfully manage and operate our integrated heavy oil business; reliability of our assets;
potential disruption or unexpected technical difficulties in developing new products and manufacturing processes; refining and marketing margins; potential failure of new
products to achieve acceptance in the market; unexpected cost increases or technical difficulties in constructing or modifying manufacturing or refining facilities; unexpected
difficulties in producing, transporting or refining of crude oil into petroleum and chemical products; risks associated with technology and its application to our business; the
timing and the costs of well and pipeline construction; our ability to secure adequate product transportation; changes in the regulatory framework in any of the locations in
which we operate, including changes to the regulatory approval process and land-use designations, royalty, tax, environmental, greenhouse gas, carbon and other laws or
regulations, or changes to the interpretation of such laws and regulations, as adopted or proposed, the impact thereof and the costs associated with compliance; the
expected impact and timing of various accounting pronouncements, rule changes and standards on our business, our financial results and our consolidated financial
statements; changes in the general economic, market and business conditions; the political and economic conditions in the countries in which we operate; the occurrence of
unexpected events such as war, terrorist threats and the instability resulting therefrom; and risks associated with existing and potential future lawsuits and regulatory
actions against us.
The forward-looking information contained in this presentation, including the underlying assumptions, risks and uncertainties, are made as of the date hereof. For a full
discussion of our material risk factors, see “Risk Factors” in our 2012 Annual Information Form and “Risk Management” in our most recent Management’s Discussion and
Analysis, available at www.sedar.com and www.cenovus.com.

3. Agenda
• About Cenovus
• The E1 Program
• Previous Toolset / Methods
• PCM Solution
• JDE Impacts
• PCM Integrations
• External Data/Users
• Summary

4. Strong integrated oil portfolio
Values are approximate. Forecast production based on midpoints of guidance dated December 12, 2012.
Bitumen estimates and 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 assignees behalf.
TSX, NYSE | CVE
Enterprise value $30 billion
Shares outstanding 756 MM
2013F production
Oil & NGLs
Natural gas
188 Mbbls/d
515 MMcf/d
2012 proved &
probable reserves
3.1 BBOE
Bitumen
Economic contingent
resources*
Discovered bitumen
initially-in-place*
Lease rights**
9.6 Bbbls
56 Bbbls
1.5 MM
net acres
P&NG rights 5.5 MM
net acres
Refining capacity 229 Mbbls/d

5. External link to SAGD Video:
http://www.cenovus.com/videos/operations/sagd.wmv
Internal link here:
S6
Steam-Assisted Gravity Drainage (SAGD)

6. Foster Creek

7. Cenovus ERP Implementation
E1 Program Overview
EnterpriseOne Program
Deliver integrated processes and
systems comprising the following
business areas
Supply Chain
Management
HR Finance Technology
Capital
Projects
Asset
Management
One Cenovus Program
January
2011
Oct
2012
21 months
Key Drivers
• Obsolescence of current JD Edwards
system
• Growth in capital spending & asset base
• Position Cenovus to support growth
HR
Upgrading JD Edwards
(JDE) HR module XE to 9.0.
Also, MyWorld is changing
Finance
Upgrading JDE
Finance module
Supply Chain
Management
New! Implementing JDE
for procurement
management
New! Primavera
implementation for cost
management, project
planning and scheduling
Capital
Projects
Asset
Management
Replacing JDE with
Maximo for management
and maintenance of assets
throughout their lifecycle

8. Supply Chain
Management &
Capital Projects
Asset Management Human Resources
& Finance
• Greenfield Implementation
• Implementation of JDE 9.0 for
procurement and
commitments
• Upgrade of Primavera P6 for
Capital Projects Scheduling
• Implementation of Proof of
Concept of Primavera PCM for
Capital Projects Cost Control
• New integrations
• Migration from JDE Xe to
Maximo
• Data cleansing, migration,
validation
• 18 new integrations between
JDE 9.0 and Maximo, 16 via
Oracle Fusion Middleware
• Custom developed Approvals
Portal – Sharepoint, BPM,
SOA
• Upgrade from JDE Xe to JDE 9.0
• Data cleansing and migration –
reduction of 2 TB of data
• Migration of 50+ integrations to
JDE 9.0, many very complex
• 150+ DB integrations moved to
DW
• Implementation of ERP
Workspace with Sharepoint
User Productivity Kit – Documentation, Online Help and Training
Cenovus ERP Implementation - Facts

9. We made it!

10. Previous Toolset/Methods
• Project Cost Tracker
• Access Application
• SQL Database
• Manual Entry
• Excel Reporting
• Cost Reports
• Spend Profile

11. Cost Code Structure
The Cost Code Structure
integrates the Work
Breakdown Structure and the
Cost Breakdown Structure for
effective cost reporting and
benchmarking
Cost Code
Structure
Cost
Breakdown
Structure
Work
Breakdown
Structure

12. AFE / Object
/ Subsidiary
Project Cost Codes
Cost Code
Structure
AFE / Object
/ Subsidiary
Project
Work Breakdown
Structure (WBS)
Actual Work Activities
LEMs

13. PCM Solution
• Cost Focused
• Field Solutions
• Reserve future functionality
• P6 Scheduling
• Keep Touch Points in mind
• Project Flexibility
• Plant
• Non-Plant

14. One Structure, Many Ways
AFE Object Sub Resp Area
Work
Pkg
Discipline
Sub-Disc.
Sub
Activity
LEM
Code
8 4 3 2 4 4 4 2 1
Infrastructure 10137134 8762 454 CN B011 0530 0000 00 X
Camp 11141087 8762 454 HO CENO CONT 0000 00 X
Offsites 10136451 8762 476 CT W06L PILG 0000 00 X
Earthworks 11142360 8762 352 EP TROC 0000 302K 00 X
Operations 09128714 8762 322 05 PLNT 0251 0302 00 X
Telephone Lake 11142722 8762 364 CN TRAN 0000 TRAN 00 X
MOC 11138853 8762 322 EP A001 CL12 0244 00 X
Plant Facilities 11137411 8762 476 CT F02F 0202 0102 00 X

15. PCM Solution
• Cost Worksheet – Project Cost Codes
• Contracts
• Budgeted – Project Budget
• Committed – JDE Orders ( PO/SO/RO)
• Custom – JDE AFE’s (Funding)
• Purchase Orders – Unassigned Costs (JE/SV)
• Changes – All Types
• Proposals – Flash Trends
• Trends – Receipts / Invoices (by JDE Line)

16. PCC’s in PCM
Element  Cost Code Cost Code Title
Object Code
(Custom Field)
29 Characters (30 Max) 31 Characters (34 Max) Character(4)
Infrastructure 10137134-454CNB0110530000000X 8762-454-CN-B011-0530-0000-00-X 8762
Camp 11141087-454HOCENOCONT000000X 8762-454-HO-CENO-CONT-0000-00-X 8762
Offsites 10136451-476CTW06LPILG000000X 8762-476-CT-W06L-PILG-0000-00-X 8762
Earthworks 11142360-352EPTROC0000302K00X 8762-352-EP-TROC-0000-302K-00-X 8762
Operations 09128714-32205PLNT0251030200X 8762-322-05-PLNT-0251-0302-00-X 8762
Telephone Lake 11142722-364CNTRAN0000TRAN00X 8762-364-CN-TRAN-0000-TRAN-00-X 8762
MOC 11138853-322EPA001CL12024400X 8762-322-EP-A001-CL12-0244-00-X 8762
Plant Facilities 11137411-476CTF02F0202010200X 8762-476-CT-F02F-0202-0102-00-X 8762

17. JDE Tag File
• PCC’s from PCM
• No Account Masters
• Unique Values
• Status
• Active – OK to Commit/Charge
• Inactive – No new commitments
• Closed – No new charges

18. JDE w/ ACA Fields
AFE Object Sub ACA 1 ACA 2 ACA 3
8 4 3 6 11 0
Infrastructure 10137134 8762 454 CNB011 0530000000X -
Camp 11141087 8762 454 HOCENO CONT000000L -
Offsites 10136451 8762 476 CTW06L PILG000000E -
Earthworks 11142360 8762 352 EPTROC 0000302K00M -
Operations 09128714 8762 322 050251 0251030200O -
Telephone Lake 11142722 8762 364 CNTRAN 0000TRAN00S -
MOC 11138853 8762 322 EPA001 CL12024400T -
Plant Facilities 11137411 8762 476 CTF02F 0202010200X -
Resp (2)
+ Area (4)
Sub Activity (2) +
LEM Code (1)
CWP
Work Pkg (4)
+ Disc / SubDisc (4)
(Discipline)

19. PCC Validation
• AFE of Interest?
• Cat Code Populated
• PCM Project Name
• PCC Combination
• Does a match exist?
• PCC Status
• Available for commitment

20. AFE’s (Funding)
• Started in AFE Navigator (Add-on)
• Account Master Level
• AFE.Object.Subsidiary – No WBS
• AFE12345.OBJ.SUB.0000000…
• Flagged w/ Category Code
• PCM Project Name

21. AFE’s (Funding)
• Started in AFE Navigator (Add-on)
• Account Master Level
• AFE.Object.Subsidiary – No WBS
• AFE12345.OBJ.SUB.0000000…
• Flagged w/ Category Code
• PCM Project Name

22. Changes – AFE’s
• Supplements
• Started in AFE Navigator
• Account Master Level

23. Project Budget
• Status Driven
• Project Estimate – Unapproved
• Baseline Budget – Approved
• Project Cost Code Level
• Data Length Bound
• AFE-RCAREAWPKGDISCSAL
• OBJC-RC-AREA-WPKG-DISC-SA-L

24. Changes – Budget
• Anticipated Changes – Flash Trends
• Project Code Level
• Realized Changes – Budget Change Mgmt.
• Project Cost Code Level
• Types: Trend, Scope, Budget Transfer
• Funding: Contingency, Mgmt. Approved

25. Commitments
• JDE Orders
• Purchase Orders
• Contracts
• Service Orders
• Project Cost Code Level
• AFE.OBJ.SUB – Standard Fields
• PCC – Adv. Cost Accounting Fields
• Order Suffix = ‘000’
• No Revisions to existing lines

26. Changes - Commitments
• JDE Orders
• Project Cost Code Level
• AFE.OBJ.SUB – Standard Fields
• PCC – Adv. Cost Accounting Fields
• Order Suffix > ‘000’
• New Lines only
• No Revisions to existing lines

27. Receipts & Invoices
• JDE Orders
• Project Cost Code Level
• AFE.OBJ.SUB – Standard Fields
• PCC – Adv. Cost Accounting Fields
• PCM Trends module
• Linked to Commitments
• Actual Received – Invoices
• Actual Expended – Receipts

28. Unassigned Costs
• JDE Journal Entries
• JDE Standard Vouchers
• $0 PCM Purchase Orders
• Invoices for Actual Amounts

29. JDE PCM
Account Masters Cost Worksheet
AFE’s Contracts - <Custom>
Supplements Change Orders
JDE Orders – (PO/SO/Contract) Contracts – Committed
JDE Receipts Trends – Actuals/Expended
JDE Invoices Trends – Actuals/Received
Journal Entries PO’s / Invoices (Unassigned)
Standard Vouchers PO’s / Invoices (SV-VendorID)
JDE – PCM Integrations
JDE PCM
Cat Code 28 Value Manual Project Name
Tag File Cost Worksheet

30. JDE – PCM Integrations
• Match Point
• AFE Category Code
• Project Name
• Frequency Daily
• Toolset
• MTG Frameworks

31. Non-JDE Data
• Project Cost Codes
• Baseline Budget
• EP Change Managements
• EP Commitments

32. PCM Utilities
• Match Point
• Project Name
• User Driven
• Toolset
• Java Application
• Excel Templates

33. Cost Report
• All PCM Cost Codes
• Account Master
• Project Cost Codes
• Sections
• Budget – Baseline + Changes
• Commitments – JDE / Non-JDE
• Received – JDE / Non-JDE / JE&SV
• Invoiced – JDE / Non-JDE / JE & SV

34. Spend Profile

35. Spend Profile
• Summary Spend Plan
• Roll-up
• Directs – Discipline
• Indirects – Subsidiary Code
• Forecast Line Item Codes
• Trends Module
• Actuals Issued

36. Next Steps

37. Summary
• Successes
• Issues
• Concerns
• Lessons Learned
• Next Steps
• Q&A