Table of Contents Table of Contents 2 List of Tables 4 List of Figures 5 Company Snapshot 7 Key Information 7 Company Overview 7 Vermilion Energy Inc., Valuation and Financial Data 8 Vermilion Energy Inc., Share Price Performance 8 Share Price Performance, Q1, 2015-Q1, 2016 8 Vermilion Energy Inc., Key Valuation Metrics 9 Key Valuation Metrics, Q1, 2015-Q1, 2016 9 Vermilion Energy Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 10 Results of Oil & Gas Operations Per boe Produced, Q1, 2015-Q1, 2016 10 Results of Oil & Gas Operations Per boe Growth Rates, Q1, 2015-Q1, 2016 11 Vermilion Energy Inc., Quarterly E&P Costs Trends 12 Upstream Capital Expenditure, Q1, 2015-Q1, 2016 12 Vermilion Energy Inc., Quarterly Production Trends 13 Vermilion Energy Inc., Total Oil and Gas Production 13 Total Crude Oil and Natural Gas Production Trend, Q1, 2015-Q1, 2016 13 Total Crude Oil & Natural Gas Production, By Country/Region, Q1, 2015-Q1, 2016 14 Vermilion Energy Inc., Crude Oil Production 15 Total Crude Oil Production Trend, Q1, 2015-Q1, 2016 15 Crude Oil Production, By Country/Region, Q1, 2015-Q1, 2016 16 Vermilion Energy Inc., Natural Gas Production 17 Total Natural Gas Production Trend, Q1, 2015-Q1, 2016 17 Natural Gas Production, By Country/Region, Q1, 2015-Q1, 2016 18 Vermilion Energy Inc., Valuation and Financial Data, 2011-2015 19 Vermilion Energy Inc., Share Price Performance, 2011-2015 19 Share Price Performance, 2011-2015 19 Key Valuation Metrics, 2011-2015 20 Vermilion Energy Inc., Production and Reserves Trends 21 Total Oil and Gas, Reserves and Production 21 Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 21 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 23 Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 25 Crude Oil/Liquids Production and Reserve 26 Crude Oil/Liquids Production and Reserve Trend, 2011-2015 26 Crude Oil Production and Reserves By Country/Region, 2011-2015 27 Crude Oil/Liquids Reserve Changes, 2011-2015 29 Natural Gas Production and Reserve 30 Natural Gas Production and Reserve Trend, 2011-2015 30 Natural Gas Production and Reserves, By Country/Region, 2011-2015 31 Natural Gas Reserve Changes, 2011-2015 33 Total Crude Oil and Natural Gas Reserves Life Index 34 Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 34 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 35 Vermilion Energy Inc., E&P Costs Trends 37 Allocation of the Upstream Capital Expenditure 37 Upstream Capital Expenditure, 2011-2015 37 Acquisition Costs By Country/Region, 2011-2015 38 Exploration and Development Costs, By Country/Region, 2011-2015 39 Oil and Gas Cost Per boe, US$/boe 41 Oil and Gas Cost Per boe, US$/boe, 2011-2015 41 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 43 Vermilion Energy Inc., Reserve Replacement Ratio 45 Oil and Gas Production Replacement Ratio 45 Oil and Gas Production Replacement Ratio, 2011-2015 45 Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 47 Vermilion Energy Inc., Results of Oil & Gas Operations Trend 50 Oil and Gas Revenue and Expenses 50 Oil and Gas Revenue and Expenses, 2011-2015 50 Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 51 Oil and Gas Revenue and Expenses, Per boe 53 Oil and Gas Revenue and Expenses, By boe, 2011-2015 53 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 54 Oil and Gas Performance Metrics 57 Vermilion Energy Inc., Land Holdings and Well Data 58 Developed and Undeveloped Acreage 58 Gross and Net Developed and Undeveloped Acreage, 2011-2015 58 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 59 Well Statistics 62 Producible Oil and Gas Well, 2011-2015 62 Producible Oil and Gas Well, By Country/Region, 2011-2015 63 Exploration and Development Wells Drilled, 2011-2015 69 Recent Developments 70 Vermilion Energy Inc. - Recent Developments 70 Sep 26, 2016: Europa Oil & Gas Competent Person’s Report On Wressle Discovery And Broughton North Prospect, Onshore UK 70 Aug 08, 2016: Vermilion Energy Announces Results For The Three And Six Months Ended June 30, 2016 72 Jun 10, 2016: Government Of The Republic Of Croatia Signed 5 Onshore Production Sharing Agreements 77 Jun 08, 2016: The Government Of The Republic Of Croatia Approved Signing Of 6 Onshore Production Sharing Agreements 78 May 31, 2016: AER Receives Vermilion Energy Application For Pembina Field 78 May 06, 2016: Vermilion Energy Announces Results For The Three Months Ended March 31, 2016 79 May 06, 2016: Vermilion Energy Reports Voting Results Of Election Of Directors 100 Mar 14, 2016: Europa Oil & Gas Provides Update On Portfolio Of Multistage Onshore And Offshore Licences 101 Feb 29, 2016: Vermilion Energy Announces Results For The Year Ended December 31, 2015 105 Feb 27, 2016: Vermilion Energy Announces 2015 Year-End Summary Reserves And Resource Information 132 Appendix 135 Methodology 135 Coverage 135 Secondary Research 135 Primary Research 135 Data Information Sources 136 Company Source 136 SEC/Other Regulatory Filings 136 Other Sources 136 Expert Panel Validation 136 Data Definition 136 Oil and Gas Reserves 136 Units of Measure 137 About GlobalData 137 Disclosure 137 Disclaimer 137

List of Tables Table 1: Vermilion Energy Inc., Key Facts 7 Table 2: Vermilion Energy Inc., Share Price Performance, Q1, 2015-Q1, 2016 8 Table 3: Vermilion Energy Inc., Key Valuation Metrics, Q1, 2015-Q1, 2016 9 Table 4: Vermilion Energy Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2015-Q1, 2016 10 Table 5: Vermilion Energy Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2015-Q1, 2016 11 Table 6: Vermilion Energy Inc., Upstream Capital Expenditure, Q1, 2015-Q1, 2016 12 Table 7: Vermilion Energy Inc., Total Crude Oil and Natural Gas, Production, Q1, 2015-Q1, 2016 13 Table 8: Vermilion Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2015-Q1, 2016 14 Table 9: Vermilion Energy Inc., Total Crude Oil Production, mmbbl, Q1, 2015-Q1, 2016 15 Table 10: Vermilion Energy Inc., Crude Oil Production, By Country/Region, mmbbl, Q1, 2015-Q1, 2016 16 Table 11: Vermilion Energy Inc., Total Natural Gas Production, bcf, Q1, 2015-Q1, 2016 17 Table 12: Vermilion Energy Inc., Natural Gas Production, By Country/Region, bcf, Q1, 2015-Q1, 2016 18 Table 13: Vermilion Energy Inc., Share Price Performance, 2011-2015 19 Table 14: Vermilion Energy Inc., Key Valuation Metrics, 2011-2015 20 Table 15: Vermilion Energy Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22 Table 16: Vermilion Energy Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 24 Table 17: Vermilion Energy Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 25 Table 18: Vermilion Energy Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 26 Table 19: Vermilion Energy Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 28 Table 20: Vermilion Energy Inc., Crude Oil Reserve Changes, mmbbl, 2011-2015 29 Table 21: Vermilion Energy Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 30 Table 22: Vermilion Energy Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 32 Table 23: Vermilion Energy Inc., Natural Gas Reserve Changes, bcf, 2011-2015 33 Table 24: Vermilion Energy Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 34 Table 25: Vermilion Energy Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 36 Table 26: Vermilion Energy Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 37 Table 27: Vermilion Energy Inc., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 38 Table 28: Vermilion Energy Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 40 Table 29: Vermilion Energy Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 42 Table 30: Vermilion Energy Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 44 Table 31: Vermilion Energy Inc., Oil and Gas Production Replacement Ratio, %, 2011-2015 46 Table 32: Vermilion Energy Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 48 Table 33: Vermilion Energy Inc., Revenue and Expenses, US$ mil, 2011-2015 50 Table 34: Vermilion Energy Inc., Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 52 Table 35: Vermilion Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 53 Table 36: Vermilion Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 56 Table 37: Vermilion Energy Inc., Oil and Gas Performance Metrics, 2011-2015 57 Table 38: Vermilion Energy Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 58 Table 39: Vermilion Energy Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 61 Table 40: Vermilion Energy Inc., Producible Oil and Gas Wells, 2011-2015 62 Table 41: Vermilion Energy Inc., Producible Oil and Gas Wells, By Country/Region, 2011-2015 67 Table 42: Vermilion Energy Inc., Exploratory and Developed Wells, 2011-2015 69 List of Figures Figure 1: Vermilion Energy Inc., Share Price Performance, CAD/Share, Q1, 2015-Q1, 2016 8 Figure 2: Vermilion Energy Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q1, 2015-Q1, 2016 9 Figure 3: Vermilion Energy Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2015-Q1, 2016 10 Figure 4: Vermilion Energy Inc., Upstream Capital Expenditure, US$ mil, Q1, 2015-Q1, 2016 12 Figure 5: Vermilion Energy Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q1, 2015-Q1, 2016 13 Figure 6: Vermilion Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2015-Q1, 2016 14 Figure 7: Vermilion Energy Inc., Total Crude Oil Production, mmbbl, Q1, 2015-Q1, 2016 15 Figure 8: Vermilion Energy Inc., Crude Oil Production, By Country/Region, mmbbl, Q1, 2015-Q1, 2016 16 Figure 9: Vermilion Energy Inc., Total Natural Gas Production, bcf, Q1, 2015-Q1, 2016 17 Figure 10: Vermilion Energy Inc., Natural Gas Production, By Country/Region, bcf, Q1, 2015-Q1, 2016 18 Figure 11: Vermilion Energy Inc., Share Price Performance, CAD/Share, 2011-2015 19 Figure 12: Vermilion Energy Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 20 Figure 13: Vermilion Energy Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 21 Figure 14: Vermilion Energy Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 23 Figure 15: Vermilion Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 23 Figure 16: Vermilion Energy Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 25 Figure 17: Vermilion Energy Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 26 Figure 18: Vermilion Energy Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 27 Figure 19: Vermilion Energy Inc., Oil Production, By Country/Region, mmbbl, 2011-2015 27 Figure 20: Vermilion Energy Inc., Crude Oil Reserve Changes, mmbbl, 2015 29 Figure 21: Vermilion Energy Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 30 Figure 22: Vermilion Energy Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 31 Figure 23: Vermilion Energy Inc., Gas Production, By Country/Region, bcf, 2011-2015 31 Figure 24: Vermilion Energy Inc., Natural Gas Reserve Changes, bcf, 2015 33 Figure 25: Vermilion Energy Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 34 Figure 26: Vermilion Energy Inc., Oil Reserve Life Index, By Country/Region, Years, 2011-2015 35 Figure 27: Vermilion Energy Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 37 Figure 28: Vermilion Energy Inc., Proved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 38 Figure 29: Vermilion Energy Inc., Development Costs, By Country/Region, US$ mil, 2011-2015 39 Figure 30: Vermilion Energy Inc., Exploration Costs, By Country/Region, US$ mil, 2011-2015 39 Figure 31: Vermilion Energy Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 41 Figure 32: Vermilion Energy Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 43 Figure 33: Vermilion Energy Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 45 Figure 34: Vermilion Energy Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 47 Figure 35: Vermilion Energy Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 47 Figure 36: Vermilion Energy Inc., Revenue and Expenses, US$ mil, 2011-2015 50 Figure 37: Vermilion Energy Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 51 Figure 38: Vermilion Energy Inc., Production Costs, By Country/Region, US$ mil, 2011-2015 51 Figure 39: Vermilion Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 53 Figure 40: Vermilion Energy Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 54 Figure 41: Vermilion Energy Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 54 Figure 42: Vermilion Energy Inc., Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 55 Figure 43: Vermilion Energy Inc., Oil and Gas Performance Metrics, 2011-2015 57 Figure 44: Vermilion Energy Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 58 Figure 45: Vermilion Energy Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 59 Figure 46: Vermilion Energy Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 59 Figure 47: Vermilion Energy Inc., Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 60 Figure 48: Vermilion Energy Inc., Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 60 Figure 49: Vermilion Energy Inc., Producible Oil and Gas Wells, 2011-2015 62 Figure 50: Vermilion Energy Inc., Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 63 Figure 51: Vermilion Energy Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 63 Figure 52: Vermilion Energy Inc., Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 64 Figure 53: Vermilion Energy Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 64 Figure 54: Vermilion Energy Inc., Net Productive Gas Wells, By Country/Region, Number, 2011-2015 65 Figure 55: Vermilion Energy Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 65 Figure 56: Vermilion Energy Inc., Net Productive Oil Wells, By Country/Region, Number, 2011-2015 66 Figure 57: Vermilion Energy Inc., Exploratory and Developed Wells, 2011-2015 69