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Provident Energy Trust maintains this website as an informational service. This website is not intended to supplement or substitute for the legal disclosure for the Company or for the prospectus disclosure related to the public offering of any of its securities. Please read our LEGAL POLICY before you proceed as your use of this website is in itself acceptance of the terms and conditions regarding use as stated in the LEGAL POLICY.

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Legal Notice:

Certain statements included in this analysis constitute forward-looking statements under applicable securities legislation. These statements relate to future events or Provident’s future performance. All statements other than statements of historical fact are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", or the negative of these terms or other comparable terminology. Forward looking statements or information in this analysis include, but are not limited to, business strategy and objectives, reserve quantities and the discounted present value of future net funds flow from operations from such reserves, net revenue, future production levels, capital expenditures, exploration plans, development plans, acquisition and disposition plans and the timing thereof, operating and other costs, royalty rates, budgeted levels of cash distributions and the performance associated with Provident’s natural gas midstream, NGL processing and marketing business. These statements are only predictions. Actual events or results may differ materially. In addition, this analysis may contain forward-looking statements attributed to third party industry sources. Undue reliance should not be placed on these forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By its nature, forward-looking information involves numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur. In addition to other assumptions identified in this analysis, assumptions in respect of forward-looking statements have been made regarding, among other things:

• Provident’s ability to benefit from the combination of growth opportunities and the ability to grow through the capital markets;
• Provident’s acquisition strategy, the criteria to be considered in connection therewith and the benefits to be derived therefrom;
• sustainability and growth of production and reserves through prudent management and acquisitions;
• the emergence of accretive growth opportunities;
• the ability to achieve a consistent level of monthly cash distributions;
• the impact of Canadian governmental regulation on Provident, including the effect of new legislation taxing trust income;
• the existence, operation and strategy of the commodity price risk management program;
• the approximate and maximum amount of forward sales and hedging to be employed;
• changes in oil and natural gas prices and the impact of such changes on funds flow from operations after hedging;
• the level of capital expenditures devoted to development activity rather than exploration;
• the sale, farming out or development using third party resources to exploit or produce certain exploration properties;
• the use of development activity and acquisitions to replace and add to reserves;
• the quantity of oil and natural gas reserves and oil and natural gas production levels;
• currency, exchange and interest rates;
• the performance characteristics of Provident's NGL services, processing and marketing business;
• the growth opportunities associated with the NGL services, processing and marketing business; and
• the nature of contractual arrangements with third parties in respect of Provident's NGL services, processing and marketing business.

Although Provident believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Provident can not guarantee future results, levels of activity, performance, or achievements. Moreover, neither the Trust, Provident nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. Some of the risks and other factors, some of which are beyond Provident's control, which could cause results to differ materially from those expressed in the forward-looking statements contained in this analysis include, but are not limited to:

• general economic conditions in Canada, the United States and globally;
• industry conditions associated with the NGL services, processing and marketing business;
• fluctuations in the price of crude oil, natural gas and natural gas liquids;
• uncertainties associated with estimating reserves;
• royalties payable in respect of oil and gas production;
• interest payable on notes issued in connection with acquisitions;
• income tax legislation relating to income trusts, including the effect of new legislation taxing trust income;
• governmental regulation in North America of the oil and gas industry, including income tax and environmental regulation;
• fluctuation in foreign exchange or interest rates;
• stock market volatility and market valuations;
• the impact of environmental events;
• the need to obtain required approvals from regulatory authorities;
• unanticipated operating events which can reduce production or cause production to be shut-in or delayed;
• failure to realize the anticipated benefits of acquisitions;
• competition for, among other things, capital reserves, undeveloped lands and skilled personnel;
• failure to obtain industry partner and other third party consents and approvals, when required;
• risks associated with foreign ownership; and
• third party performance of obligations under contractual arrangements.

Statements relating to "reserves" or "resources" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the resources and reserves described can be profitably produced in the future. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this analysis are expressly qualified by this cautionary statement. Subject to Provident’s obligations under applicable securities laws, Provident is not under any duty to update any of the forward-looking statements after the date of this analysis to conform such statements to actual results or to changes in Provident’s expectations.