Strathcona Resources Aktie

Good afternoon, everyone. Welcome to the Annual Meeting of Shareholders of Strathcona Resorts Limited. My name is Adam Waterous, and I am the Executive Chairman of Strathcona and will act as Chair of the meeting. With me for the meeting is Connor Waterous, Chief Financial Officer of Strathcona; and Connie De Ciancio, Chief Commercial Officer of Strathcona. I'm also joined by certain other Strathcona team members who are either shareholders or duly appointed proxy holders and will be acting as motioners and seconders for the meeting.

The meeting will now come to order. During the course of this virtual meeting, registered shareholders and duly appointed proxy holders may vote by electronic ballot through the Lumi platform. If you have already voted by proxy, there is no need to vote again during the meeting. If you do vote again, your vote cast at this meeting will revoke your prior vote. Registered shareholders and duly appointed proxy holders may submit questions at any time during the meeting. If you wish to submit a question during the meeting, select the messaging tab on the Lumi platform, type your question within the box at the top of your screen and click the send arrow. Questions asked related to the business of the meeting will be answered in the order received for each item of business.

Now for the formal business of the meeting. With the consent of the meeting, Lindsay Hofer of Blake, Cassels & Graydon LLP will act as Secretary of today's meeting and Nazim Nathoo of Odyssey Trust company will act as scrutineer. Notice of this meeting, the management information circular and a form of proxy were sent on March 23, 2026, to shareholders of record as of March 6, 2026, and to the directors and auditors of Strathcona. I will ask the Secretary to file the declaration of meeting of those materials with the minutes of this meeting.

The scrutineer has advised that a quorum is present. I direct the Secretary to ensure that the formal report of the scrutineer on the quorum be attached to the minutes of this meeting. As due notice of the meeting has been given and a quorum is present, I declare the meeting to be properly called and constituted for the transaction of business.

For those that are entitled to vote at today's meeting and have not already submitted a proxy, voting will be conducted by an electronic ballot for each voting matter. If you are a registered shareholder or a duly appointed proxy holder and have not yet voted, you may vote at any time during the meeting by clicking on the voting tab at the top of your screen and selecting your vote for each ballot. The polls will remain open until discussion, if any, has concluded on all items of business of the meeting. I now declare the polls open and we will proceed with the matters under consideration at this meeting.

The first item of business is to receive the consolidated financial statements of Strathcona for the year ended December 31, 2025, together with the auditor's report thereon. Copies of such financial statements were mailed to shareholders who requested those materials, and additional copies are available electronically on Strathcona's website and on SEDAR+.

The next item of business is the election of directors of Strathcona. The number of directors to be elected at this meeting is 9. The corporation's nominees are individuals described in the management information circular all of whom are current directors of Strathcona. May I have a motion on the election of these 9 nominees as directors of Strathcona.

I move that the 9 nominees described in the Management Information Circular be elected as directors of Strathcona until the next Annual Meeting of Shareholders or until their successors are elected or appointed.

I second the motion.

Thank you. Ms. Hofer, are there any questions on this motion?

Mr. Chairman, there are no questions on this motion.

Thank you. If you have not already done so, you may cast your vote on this resolution, and we will proceed to the next matter.

The next item of business is the appointment of auditors. It is proposed that Deloitte LLP be appointed as Strathcona's auditors. I mean I have a motion on the appointment of Deloitte LLP as the auditors of Strathcona.

I move that the firm of Deloitte LLP, independent registered public accounting firm, be appointed auditors of Strathcona until the next Annual Meeting of Shareholders or until their successors are appointed.

I second the motion.

Thank you. Ms. Hofer, are there any questions on this motion?

Mr. Chairman, there are no questions on this motion.

Thank you. If you've not already done so, you may cast your vote on this resolution. That concludes the items of business set out in the notice of meeting. If you are a registered shareholder or duly appointed proxy holder and have not submitted your votes on any matters, please do so now. We will pause briefly to permit voting before closing the polls on all items. The line will go silent for about 30 seconds while we allow for votes.

[Voting]

Thank you for waiting. I now declare the polls are closed. I have been advised that the scrutineer has completed the tabulation of votes for all resolutions. With respect to the election of directors of Strathcona, I'm advised by the scrutineer that each of the proposed nominees has been duly elected. With respect to the resolution to appoint the auditors, I'm advised by the scrutineer that the resolution has been approved. The detailed voting results will appear in the press release to be issued today as well as on SEDAR+.

The formal items of the business as set out in the notice of meeting have now been dealt with. As there are no further business, may I have a motion to terminate the meeting.

I move that this meeting be terminated.

I second the motion.

I now declare the meeting terminated. I would like to thank you for attending the Annual Meeting of Shareholders of Strathcona. This concludes the meeting.

Good morning, everyone. Welcome to the special meeting of the shareholders of Strathcona Resources Limited.

My name is Adam Waterous and I'm the Executive Chairman of Strathcona and will act as Chair of the meeting. I am also joined by certain others Strathcona team members who are either shareholders or duly appointed proxy holders and will be acting as motioner and seconders for the meeting. The meeting will now come to order.

During the course of this virtual meeting, registered shareholders and duly appointed proxy holders may vote by electronic ballot through the Lumi platform. If you've already voted by proxy, there is no need to vote again during the meeting. If you do vote again, your vote is cast at this meeting and will revoke your prior vote. Registered shareholders and duly appointed shareholders may submit questions at any time during the meeting. opins. Questions will be answered in the order received and may be edited or paraphrased, and substantially similar questions may be grouped and answered wants to avoid repetition.

Now for the formal business of the meeting. With the consent of the meeting, Olga Kary, Corporate Secretary of Strathcona will act as Secretary of today's meeting and Nazim of Odyssey Trust Company will act as scrutineer. A notice of this meeting, the Management Information Circular and a form of proxy were sent on November 5, 2025 to shareholders of record as of October 17, 2025, and to directors and auditors of Strathcona. I would ask the secretary to file the declaration of meeting of those materials with the minutes of this meeting. The scrutineer has advised that a quorum is present. I direct the secretary to ensure that the formal report of the scrutineer on quorum be attached to the minutes of this meeting.

A due notice of the meeting has been given and a quorum is present. I declare this meeting to be properly called and constituted for the transaction of business. For those that are entitled to vote at today's meeting and have not already submitted a proxy, voting will be conducted by an electronic ballot for each voting matter. If you are a registered shareholder or a duly appointed proxy holder and have not yet voted, you may vote at any time during the meeting clicking on the voting tab at the top of your screen and selecting your vote for each ballot. The polls will remain open until discussion, if any, has concluded on all items of business of the meeting.

I now declare the polls open and we'll proceed with the matters under consideration at this meeting. The sole item of business at today's meeting is the approval of the special distribution, the full text of which is set out in Appendix A to the management information circular dated October 28, 2025, to approve a statutory plan of arrangement to effect a special distribution to Strathcona's shareholders in the amount of $10 per share. In accordance with the interim order of the Court of King's bench of Alberta, granted October 28, 2025, the special resolution must be approved by not less than 2/3 of the votes cast by the shareholders present in person or represented by proxy at this meeting. May I have a motion to approve the special resolution?

It means that the special resolution improving the statutory plan of arrangement and the special distribution as set forth in Appendix A to the Management Information Circular related to this meeting be approved.

I second the motion.

Thank you. Ms. Kary, are there any questions on this motion?

Mr. Chairman, there are no questions on this motion.

Thank you. If you have not already done so, you may cast your vote on this resolution. This concludes -- that concludes the sole item of business set out in the notice of meeting.

If you are a registered shareholder or duly appointed proxy holder and have not submitted your votes on any matters, please do so now. We will pause to briefly voting before closing the polls on this whole item of business. The line will go silent for about 30 seconds while we allow for votes.

[Voting]

Thank you for waiting. I now declare the polls are closed.

I have been advised by the scrutineer that the special resolution has been duly passed by over 99.9% of the votes cast on the matter. Accordingly, I declare that the special resolution has been passed. The detailed voting results will appear in the press release to be issued today and filed on SEDAR. The formal item of the business as set out in the notice of meeting has now been dealt with.

As there is no further business, may I have a motion to terminate the meeting.

I move that this meeting be terminated.

I second the motions.

I now declare this meeting terminated.

Good morning. My name is Jerome, and I'll be your conference operator today. I would now like to welcome everyone to the Third Quarter 2025 Conference Call of Strathcona Resources Limited. [Operator Instructions] I will now introduce Angie Lau, Treasurer of Strathcona, to open the conference and introduce the speakers.

Welcome to the Q3 2025 Conference Call of Strathcona Resources Limited. Yesterday, Strathcona released its third quarter 2025 results. We encourage our investors to visit Strathcona's website and review the disclosure materials in detail. Today's call will be focused on taking questions from analysts.

Please note that all commentary made by today's speakers are subject to the same advisories regarding forward-looking information and non-GAAP measures as can be found in yesterday's press release and our other disclosure materials. On today's call, we have from our management team, Adam Waterous, Executive Chairman; Connor Waterous, Chief Financial Officer; Dale Babiak, Chief Operating Officer; Kim Chu, President, Strathcona Cold Lake; Seamus Murphy, President, Strathcona Lloydminster Conventional; and Ryan Tracy, President, Strathcona Lloydminster Thermal.

With that, in keeping with our practice, we will take all of our materials as read, and we would now like to jump straight to questions.

[Operator Instructions]

There are no further questions at this time. Turning over back to Adam.

First of all, we appreciate everyone for tuning in. So we don't have any questions. I take that as provided comprehensive materials, and we look forward to providing you a further update on or about the 1st of December post the closing of our scheduled transaction with Cenovus. Thanks so much.

Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask that you please disconnect your lines.