Strathcona Resources Ltd. (SCR) Earnings Call Transcript & Summary

Hello, and welcome to the 2024 Annual Meeting of Shareholders of Strathcona Resources Limited. Please note that this meeting is being recorded. [Operator Instructions] It is my pleasure to introduce the President and CEO of Strathcona Resources, Rob Morgan. Mr. Morgan, the floor is yours.

Good morning, everyone. Welcome to the Annual Meeting of Shareholders of Strathcona Resources Ltd. My name is Rob Morgan, and I am the President and Chief Executive Officer and a Director of Strathcona and will act as Chair of the meeting. With me for the meeting today is Connor Waterous, our Senior Vice President and Chief Financial Officer of Strathcona, along with certain other members of the Strathcona team. 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. Guests may submit questions during the Q&A session following the formal portion of the meeting. [Operator Instructions] Questions asked related to the business of this meeting will be answered in the order received for each item of business. All other questions will be addressed following the formal portion of the meeting. 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 Nathoo of Odyssey Trust Company will act as scrutineer. Notice of this Meeting, the Management Information Circular and the form of proxy were sent out April 5, 2024, to shareholders of record as of March 27, 2024, and to the directors and auditors of Strathcona. I would ask the secretary to file the declaration of mailing 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. As 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 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 at the meeting. I now declare the polls open, and we'll 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, 2023, 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 the individuals described in the 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 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. 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, 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. May 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.