Greenfields Petroleum Corporation

Redevelopment Continues

in BaharAugust 2017

TSX.V: GNF

600 Ton crane barge removing PSG crane from Gum Deniz Platform 2

Forward-Looking StatementsThis presentation contains forward-looking statements. More particularly, this presentation contains statements concerning the anticipated future corporate plans andinitiatives for Greenfields Petroleum Corporation (“Greenfields”). Some of the forward-looking statements can be identified by words such as “expects”, “anticipates”, “should”,“believes”, “plans”, “will” and similar expressions. Specifically, forward-looking statements in this presentation include the anticipated milestones schedule, the amount ofanticipated net annual cash flow and the company’s drilling program. The forward-looking statements contained in this document are based on certain key expectations andassumptions made by Greenfields, including expectations and assumptions concerning timing of receipt of required shareholder, regulatory or third party approvals, theavailability of equity investment, the ability to acquire assets, the success of future drilling and development activities, the performance of existing wells, the performance ofnew wells, the application of regulatory and royalty regimes, the volatility of oil and gas prices, the receipt of cooperation from contractual counterparties where their assistanceis required and prevailing commodity prices and exchange rates.Although Greenfields believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placedon the forward-looking statements because Greenfields can give no assurance that they will prove to be correct. Since forward-looking statements address future events andconditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factorsand risks. These include, but are not limited to, the failure to obtain necessary shareholder, regulatory or other third party approvals to the planned transactions, risksassociated with the availability of capital in the financial markets, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration andproduction; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty ofestimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations anduncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.The forward-looking statements contained in this document may not be appropriate for other purposes and are made as of the date hereof and Greenfields does not undertakeany obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless sorequired by applicable securities laws.DisclaimerGreenfields’ securities are a highly speculative investment and are not intended as a complete investment program. They are designed only for sophisticated persons who canbear the economic risk of the loss of their investment in Greenfields and who have limited need for liquidity in their investment. There can be no assurance that Greenfields willachieve its investment objective. Target investment goals are not a guarantee of future returns.The attached material is provided for informational purposes only as of the date hereof, is not complete, and may not contain certain material information about Greenfields,including important disclosures and risk factors associated with an investment in Greenfields. This information does not take into account the particular investment objectivesor financial circumstances of any specific person who may receive it. More complete disclosures and the terms and conditions relating to an investment in Greenfields will becontained in Greenfields’ subscription agreement and/or similar offering documents. Before making any investment, prospective investors should thoroughly and carefullyreview such documents with their financial, legal and tax advisors to determine whether an investment is suitable for them.This document and its contents are confidential. It is being supplied to you solely for your information and may not be reproduced or forwarded to any other person, orpublished (in whole or in part) for any purpose.MeasurementWhere amounts are expressed on a barrel of oil equivalent (“BOE”) basis, natural gas volumes have been converted to oil equivalence at six thousand cubic feet per barrel. Theterm BOE may be confusing, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet per barrel is based on an energy equivalency conversion methodprimarily applicable at the burner tip and does not represent a value equivalency at the wellhead.CurrencyAll amounts in this presentation are in US dollars unless otherwise noted.

2

Greenfields Petroleum Corporation

• Re-development of giant oil and gas fields in shallow waters of Caspian Sea in Azerbaijan

• Production Sharing Agreement (PSA) provides excellent contract stability

• Existing oil production is exported and gas production is sold domestically in a fixed price Take or Pay contract

• Greenfields is the operator and has controlling interest 80% in PSA

• Recent Seismic on oil field has identified secondary waterflood potential

• Deeper oil and gas prospects have been identified for Farmout to third parties operators

3

Offshore Shallow Water Caspian Sea, Azerbaijan“The Neighborhood of Big Oil and Gas – Billion Barrel and Multi TCF Fields”

Bahar FieldCUM 4.3 TCF , 85 MMBC

REM 0.7 TCF

Gum-Deniz FieldCUM 212 MMBO REM 110 MMBO

Caspian Sea

Sangachal Field3.7 TCF , 800 MMBO

Shah-Deniz Field25.0 TCF& 1,600 MMBO projected

Guneshli Field9.7 TCF , 14 BBO

Neft Dashlary Field1,200 MMBO

Bahar 2 Exploration Area

4

Total’s Absheron11 TCF

BP’s SWAP Area

BP’s SWAP Area

Hovsan Miocene Discovery Well 2015

5

Bahar ERDPSA – closer look

Contractor Parties

Bahar Energy Limited (80 %) wholly owned subsidiary of Greenfield Petroleum Corporation*

SOCAR Oil Affiliate (20%)

2017 Gross Production (July) 4,000 BOE/d

Bahar Reserves (P1+P2)* 10.2 MMBO 168 BCF

40 MMBOE

Asset Valuation PV10 (P1+P2)* ~$318 million

* GLJ 2016 Reserves Report

BAKU

6

Transportation Systems

GAS

Sold to SOCAR Gas Export

Take or Pay Contract

Realization: US$2.68/mcf

OIL

All volumes sold to SOCAR Marketing- pipeline shipped to Novarossiysk (or Supsa) - liftings every 6 to 10 days

Realization: Brent (less ~US$4/b)

Bahar Gas Field

Cumulative production of 4.3 TCF, 84.0 MMBBL of condensate

SPBL70 -10.0 RT

0.20 100POR

0.25 -0.10

4000

5000

-3000

-4000

-5000NKP

VII

VIII

V

IX

KS

NKG

X

SP

VI

I

Horizon I

Horizon VHorizon VI

Horizon VIIHorizon VIII

Horizon IX

Horizon XHorizon SP

Horizon NKP

3,500 meters

4,000 meters

4,500 meters

5,000 meters

Initial production 1969Peak of 591 MMcf/d & 13,900 B/d 1985

OGIP of 6.9 TCFG in 12 stacked reservoirs Currently 63% RF and ultimately 70% RF

7

Water Depth 30 to 50 feet

Bahar Reservoir Model

• The high resolution grid consists of 1416 layers and 111 million grid cells from the Balakhany BV to BIX.

• Incorporates all faults as identified by seismic

• Static and Dynamic simulations

Original 2D model porosity property (1 layer per zone= ~ 20 m vertical)

Arawak detailed facies, petrophysical model (25m*25m*1 m vertical)

BX structure

• Identified 51 recompletions located on 23 existing platforms

• Additional reserves 318 to 720 BCF

8

Improved Operations

1. Operating costs reductions (down to $22-25MM)• Devaluation of Azeri Manats• Renegotiate all services• Reduction in personnel

2. Capital cost reductions for platform refurbishment• From $70MM to $18MM for 17 gas platforms

9

10

11

MODULAR RIG on offshore platforms

Platform Well Operation

Island G-601 Optimization - ESP R P R R R PIsland G-467 Recompletion R R R PIsland G-038 Optimization - ESPCP O O O PIsland G-005 Fishing F F F F PIsland G-006 Optimization - ESPCP O O PIsland G-466 Optimization - ESPCP O O PIsland G-465 Recompletion R R PIsland G-468 Optimization - ESPCP O O PIsland G-471 Optimization - ESP O O PPL-2 G-502 Recompletion NANG R R R PPL-20 G-020 Optimization - ESPCP C C C C C M O O O PPL-2 G-504 Recompletion NANG R R R PPL-2 G-203 Recompletion R RPL-2 G-715 Optimization - ESPCP R R P O O O PPL-209a G-511 Optimization - ESPCP O O O PPL-2 G-716 Optimization - ESPCP O O O PPL-2 G-774 Optimization - ESPCP O O O PPL-209a G-447 Optimization - ESPCP O O O PPL-209a G-449 Recompletion R R R PPL-209a G-445 Recompletion R R R PPL-209a G-444 Recompletion R R R PPL-409 G-417 Reactivation C C C C C C M A APL-409 G-414 Reactivation C C C M A APL-409 G-415 Reactivation C C C M A APL-412 G-412 Reactivation C C C C C C C C M A APL-412 G-413 Reactivation C C C M A A A APL-412 G-418 Reactivation C C C C C M A APL-412 G-430 Reactivation C C C M A A A APL-450 G-464 Recompletion NANG R RPL-450 G-477 Recompletion R PPL-450 G-463 Recompletion R R R PPL-450 G-455 Recompletion R R R PPL-450 G-543 Recompletion R R R P

PL-83/162 B-083 Recompletion R PPL-196 B-196 Recompletion M R R R R R PPL-175 B-176 Recompletion M M M R R R R PPL-175 B-174 Fishing C C C C M M F F F F F F PPL-175 B-179 Recompletion M M R R R R R PPL-43/62 B-193 Recompletion C C C C C C C C C C C C C M M R R R R R R PPL-43/62 B-192 Recompletion M R R R RPL-20 B-020 Fishing C C C C C C C C M M F F F F R R PPL-83/162 B-157 Recompletion C C C C M M R R R R PPL-70/106 B-108 Recompletion C C C C C C C C C C C C M M R R R R PPL-70/106 B-109 Recompletion C C C C C C M M R R R R PPL-70/106 B-074 Fishing C C C C C C M M F F F F

Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17

2017 Work Program

Refurbish offshore platforms • Bahar Field 4 platforms• Gum Deniz Field 3 platforms

Workover operations: re-entry, fishing, logging, recompletions

• Gum Deniz field 33 well re-entrieso 12 optimizations with

ESPCPso 7 reactivations with

ESPso 13 workoverso 1 fishing

• Bahar field 12 well re-entrieso 9 recompletionso 3 fishing

Bahar and Gum Deniz Redevelopment

13*Secondary Recovery not included

Gum Deniz Oil FieldCumulative production 212 MMBOAverage cumulative production per well of 556 MBOE

QP-SV_BU-90 50 N05-SV

0.20 100NQK

1.40 0.60

2000

3000

-200

0-3

000

VI

SP

X

VIII

V

NKP

PK

KaS

VII

KS

IX

0

1000

Horizon KS

Horizon VHorizon VI

Horizon VIIHorizon VIII

Horizon IX

Horizon X

Horizon SP

Horizon NKP

Horizon PK

Horizon KAS

2,000 meters

3,000 meters

2,500 meters

3,500 meters

• Discovered in 1950’s 484 wells ~2.3+ BB 00IP

• Peak Production of 46,400 B/d in 1964.

14

Bahar PSA Seismic

Gum Deniz 3D

Bahar 2 Area 3D

15

GUM Deniz Oil Field

Bahar Gas Field

Bahar 2 Exploration

Area

• 2D: • 208 lkm 1995 Data• 115 lkm 2011 Data• 50 lkm 2015 Data

• Gum Deniz 2015 3D: • 102 Sq.Km.

• Bahar 2 Area 2012 3D: • 100 Sq.Km.

Horizon X Principal Component Slice with BX Production Wells Highlighted

Mud volcano

sealing boundary fault

Horizon IX Cumulative Production

Fault Interpretation (Horizon IX) compared to cumulative production is evidence of a primary sealing fault.

Model is basis for new Field Development Plan and reserves revision for 2017 and beyond

Geophysical and Reservoir Engineering ModellingGum Deniz Oil Field

Historical water injection and corresponding increase in neighbouring oil wells

Gum Deniz Oil Field

Petrel Static Geological Model

all data interrogation and correction is complete, now very reliable well database

constructed and modeled all main oil producing zones (Horizons V to X)

Field Development Plan

GUM DENIZ FIELD – Active Wells and Proposed Workover Wells for 2017

Gum Deniz Waterflood Program (~40 to 100 MMB)PHASE ONE 1. Central Block

Zones SP, 10, 9, 8565 MMB OOIPWF Potential 35MMB

2. North BlockZones 10, 9, 729MMB OOIPWF Potential 5MMB

PHASE TWO3. Southern Block

Zone 10360 MMB OOIPWF Potential 31MMB

4. Northeastern BlockZones KAS & PK308 MMB OOIP

WF Potential 71MMB

18

19

Waterflood LogisticsPhase 1

Utilize existing platform, wells (producers and injector), flowlines and tankage

New filtration, chemical injection, biocide, low pressure pipelines and horizontal ESP’s

Total cost for 60,000 B/d injection

~$12-15 MM

Going Forward

• Dramatic operating costs reductions– $89MM reduced to ~$25MM ($12 per B)– Reduced personnel & contract services

• Gum Deniz and Bahar workovers and recompletions ongoing– Focus on growing gas sales volumes

while oil prices are low– Grow production to over 10,000 by end

of 2018• Dynamic model simulations of the two fields• Water Flood pilots in 2018

• Evaluating partners for deeper Exploration opportunities.

Materials being transported to Platform 208 for Drilling

20

Bahar Growth Opportunities

Gum Deniz• Water flood existing oil field (2018 Phase 1)• Resume Oil field development drilling (201 9+)• Drill deeper Miocene Gas target below existing oil fields (2018)• Development of Non Associated Gas in oil field (2017)• Horizontal drilling of oil wells (2019)

Bahar• Drill new gas wells in Bahar Gas Fields (2019)• Gas Export Sales to Europe through Shah Deniz TANAP pipelines (2019)• Waterflood of the Bahar SP oil rim

Bahar 2• Drilling in Bahar 2 exploration area

21

Greenfields Petroleum Corporation

John Harkins – CEO Phone: (832) 234-0834Facsimile: (877) 644-6211John.Harkins@greenfieldspetroleum.com

Contact Information

TSX.V: GNF & GNF.DB22

Jose Perez-Bello - CFOPhone: (832) 234-0831Facsimile: (877) 644-6211Jose.Perez-Bello@greenfieldspetroleum.com

Official website is located at:www.greenfields-petroleum.com

Bay of Baku is a natural harbor on the shore of the Absheron Peninsula

2017 Bahar Budget

• Operating and Recoverable Costs– Personnel and services 22.5– Repair, recompletion of wells and facilities 5.4

Total $27.9• Capex

– Workovers• Gas 6.7• Oil 2.4

– Platform and flowline refurbishments • Gas 4.0• Oil 4.2

– Other 1.6Total $18.8

Total Expenditures $46.7 MM

Revenues $52.9MM

23

ERDPSA - Annual Forecast 2017 - 2031

GLJ Jan. 1, 2017 Brent Price Deck w/ SOA Carry

NPV10Summary NPV10 Percentage

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031Production

Oil bopd 1,284 1,971 3,126 4,270 5,319 5,758 5,371 4,628 3,772 3,332 2,801 2,205 1,753 1,345 977

Gas mmcfd

30 67 83 82 68 48 38 57 49 40 33 26 27 30 27

Average Gross Production boepd

6,284 13,138 16,959 17,937 16,652 13,758 11,704 14,128 11,939 9,999 8,301 6,538 6,253 6,345 5,477

Compensatory Petroleum

Oil bopd 128 197 313 427 532 576 537 65 - - - - - - -

Gas mmcfd

3 7 8 8 7 5 4 6 4 - - - - - -

Average CompensatoryPetroleum boepd

628 1,364 1,646 1,760 1,699 1,409 1,204 1,065 667 - - - - - -

PricingForecast

Brent Oil PriceEstimate $ 56.03 $ 59.93 $ 64.81 $ 68.71 $ 72.60 $ 75.50 $ 78.40 $ 81.30 $ 84.21 $ 87.73 $ 89.43 $ 91.17 $ 92.93 $ 94.74 $ 96.58

Oil and Condensate (PSA netback) $ 50.30 $ 53.98 $ 58.59 $ 62.27 $ 65.94 $ 68.68 $ 71.42 $ 74.16 $ 76.90 $ 80.23 $ 81.83 $ 83.47 $ 85.14 $ 86.84 $ 88.58

Gas (with protocol pricing) $ 2.68 $ 2.68 $ 2.68 $ 2.68 $ 2.68 $ 2.68 $ 2.68 $ 2.68 $ 2.68 $ 2.68 $ 2.68 $ 2.68 $ 2.68 $ 2.68 $ 2.68

Revenues($000's) Total

Oil $ 1,245,643 $ 23,577 $ 38,833 $ 66,840 $ 97,317 $ 128,016 $ 144,342 $ 140,014 $ 125,613 $ 105,879 $ 97,581 $ 83,650 $ 67,350 $ 54,479 $ 41,789 $ 30,363

Gas $ 689,749 $ 29,366 $ 65,099 $ 81,243 $ 80,096 $ 66,694 $ 46,846 $ 36,802 $ 56,177 $ 48,006 $ 38,866 $ 32,394 $ 25,591 $ 26,639 $ 29,185 $ 26,745

TotalRevenues $ 1,935,392 $ 52,943 $ 103,932 $ 148,083 $ 177,413 $ 194,710 $ 191,188 $ 176,816 $ 181,790 $ 153,885 $ 136,447 $ 116,044 $ 92,941 $ 81,118 $ 70,974 $ 57,108

OperatingCosts $ 511,438 27,885 26,464 29,573 32,178 34,415 40,477 43,318 44,744 41,100 38,105 35,305 32,225 30,866 28,796 25,987

Capex $ 310,556 18,824 27,591 52,176 98,809 54,144 30,300 8,059 3,082 1,796 3,531 1,382 3,067 3,649 2,328 1,818

ERDPSA Net Cash Flows $ 1,113,398 $ 6,234 $ 49,877 $ 66,334 $ 46,426 $ 106,151 $ 120,411 $ 125,439 $ 133,964 $ 110,989 $ 94,811 $ 79,357 $ 57,649 $ 46,603 $ 39,850 $ 29,303

CashFlows TotalCashflow

SOA Cash Flow (20% contractor party) 521 3,545 4,596 (6,530) 11,767 15,053 16,953 20,163 17,090 14,160 11,864 8,523 6,836 5,887 4,328

SOA Cumulative Cash Flow $134,75

6

521 4,066 8,662 2,132 13,899 28,952 45,905 66,068 83,158 97,318 109,182 117,705 124,541 130,428 134,756

SOCAR Cash Flow (Compensatory Petroleum) - - - 17,741 19,471 19,119 17,682 7,381 3,793 - - - - - -

SOCAR Cumulative Cash Flow $85,18

7

- - - 17,741 37,212 56,331 74,013 81,394 85,187 85,187 85,187 85,187 85,187 85,187 85,187

BEL Cash Flow (80% contractor party) 1,917 33,123 41,280 10,080 47,066 60,211 67,810 80,651 68,359 56,642 47,455 34,093 27,345 23,548 17,312

BEL Cumulative Cash Flow $616,89

2

1,917 35,040 76,320 86,400 133,466 193,677 261,487 342,138 410,497 467,139 514,594 548,687 576,032 599,580 616,892

SOFAZ Cash Flow 3,797 13,209 20,458 25,135 27,847 26,028 22,995 25,769 21,644 24,009 20,040 15,033 12,421 10,415 7,664

SOFAZ Cumulative Cash Flow $276,46

4

3,797 17,006 37,464 62,599 90,446 116,474 139,469 165,238 186,882 210,891 230,931 245,964 258,385 268,800 276,464

24

Bahar Acquisition Background• Baghlan Group (BVI) borrowed $150 in LPN (BNP Paribas - July 2012) to buy

1/3 interest in Bahar Energy Limited (BEL)• Baghlan defaulted on the LPN and was put into receivership (PWC) in

December 2014• Liquidator (PWC) appointed to sell Baghlan Group’s 2/3 interests in BEL (July

2015)

• Greenfields purchased the remaining 2/3 interests in BEL August 9, 2016– Consideration of $66MM

• $6MM cash and forgiveness of $60.3MM default funding owed to GNF– Funded by Vitol and I&S– BVI court sanction sale July 2016 and BEL shares transferred to GNF in Dubai

• Greenfields restructured Corporation August 18, 2016– Settle with shares unsecured loan ~$25.9MM maturity May 2018 (balloon 12%)– Settle with shares Convertible Debentures $21.2MM maturity May 2017 (9.5%)– Extend Senior Secured Loan from August 2016 to March 2018

• (Tranche One $41.1MM + Tranche Two $3.0MM = $44MM)– Restructuring completed September 9th, 2016

25