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

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.