Surge Energy Inc. ($SGY)

Hello. Good afternoon, ladies and gentlemen. Welcome to the Annual General Meeting of the holders of common shares of Surge Energy, Inc. My name is James Pasieka, and I'm Chair of the Board of Directors of Surge. Joining us online are our directors of the corporation, Myles Bosman, Marion Burnyeat, Daryl Gilbert, Michelle Gramatke, Ryan Gritzfeldt, Robert Leach, Allison Maher, and of course, our Chief Executive Officer, Paul Colborne. Also with us are the members of our executive management team, Murray Bye, Chief Operating Officer; Jared Ducs, Chief Financial Officer; Margaret Elekes, Senior Vice President, Land and Business Development; and Derek Christie, Senior Vice President, Exploration. We will now proceed with the formal business of the meeting. In order to have the meeting proceed efficiently, certain individuals have been asked to move and second the motions, which are to be called for the notice of meeting. This is not intended to limit in any way your right to participate in the meeting. Any proposed amendments or objections to a motion will need to be submitted as questions. All proposed amendments or objections to the matters to be approved at this meeting will be addressed during the meeting provided that they are submitted during the period when the polls are open. There will be opportunities for shareholders to ask questions specific to each resolution on the webcast. If you have a question, click on the Messaging icon at the top right of the webcast page. Please read the instructions in the text box before submitting your question. Once you have finished typing out your question, click the Submit button. We will address questions that directly relate to a particular motion at the appropriate time of the meeting. For questions of a more general nature and not related to proposed amendments or objections, we request that you e-mail Paul Colborne, our Chief Executive Officer, directly at [email protected] with your question, and we will endeavor to answer it as soon as possible following the conclusion of the meeting. Please note that only holders of shares of the corporation of record at the close of business, March 31, 2026, or their duly appointed proxy holders are entitled to participate and vote at the meeting. Voting during this meeting can only be done through our virtual voting platform on the webcast. Click the Vote tab at the top right of the webcast page and a separate browser window will appear. If prompted to do so, you can register to vote by entering your control number, which you have previously received as your username and entering surge2026, all in lower case, as your password. Please note that the password is case-sensitive. The polls are now open. The polls will be open for all resolutions at the same time. Voting can be completed at any time from now until the end of the formal business of the meeting. Thank you to those of you who have already voted. If you have already voted in advance of the meeting and do not wish to change your vote, then you need do nothing further. For those who have not yet voted, we encourage you to vote now. So I will now declare the meeting to come to order. I request that Michael Bennett, the Corporate Secretary of Surge, act as Secretary of the meeting and Paul Bedard of Odyssey Trust Company to act as Scrutineer. Proof of mailing of the notice of meeting, information circular and form of proxy to the registered shareholders of the corporation has been filed with me by the Secretary. Unless there are any objections, I will dispense with the reading of the Notice of Meeting and direct that a copy of the proof of mailing be appended to the minutes of the meeting. Now the Preliminary Scrutineer's Report has been received, and it shows the required threshold for quorum of the meeting has been met. I direct that a copy of the Scrutineer's Report be kept with the minutes of the meeting. Accordingly, I declare the meeting is regularly called and properly constituted for the transaction of business. There are 3 items of business to consider at today's meeting: the fixing of the number of Directors to be elected, the election of Directors and the appointment of auditors. We will conduct the votes on each matter before us by electronic vote. The first item of business is the presentation of the financial statements of the corporation for the fiscal period ended December 31, 2025, and the report of the auditors thereon. The financial statements and auditor's report were mailed to each shareholder of the corporation, who is entitled to receive them and have been posted on the corporation's website and filed on the corporation's profile on SEDAR. Shareholders who have, therefore, had an opportunity to review these documents. Therefore, we will dispense with the reading of the financial statements and the auditor's report. As no action is required by the shareholders on these financial statements, I now declare that the financial statements of the corporation for the fiscal period ended December 31, 2025, and the report of the auditors thereon have been received by the shareholders as submitted to this meeting. The next item of business is the fixing of the number of Directors for election at the meeting. In the information circular is proposed that 9 individuals be nominated for election to the Board of Directors. I would request a motion that the number of Directors for the ensuing year be set at 9.

Mr. Chair, my name is Stephanie McNeil, and I'm a shareholder. I move that the number of Directors for the ensuing year be set at 9.

Mr. Chair, my name is Aaron Katerenchuk, and I am a shareholder. I second the motion.

You have heard the motion. I will now ask the Secretary to please advise if any questions specific to this motion were submitted.

Mr. Chair, no questions specific to this motion have been submitted.

Thank you, Mr. Bennett. We will now proceed with the vote. Please record your vote now, remembering that if you've already voted in advance and do not wish to change your vote, no further action is required. It is now in order to proceed with the election of the Directors of the corporation. The information circular contains the names of management's proposed nominees to the Board of Directors, which are myself, Myles Bosman, Marion Burnyeat, Paul Colborne, Daryl Gilbert, Michelle Gramatke, Ryan Gritzfeldt, Robert Leach and Allison Maher. The nominations which have been made are in order. Since the number of nominees does not exceed the number of Directors to be elected by the shareholders, I request a motion that the nominees be elected as Directors of the corporation to hold office until the next Annual Meeting of Shareholders or until their successors are elected or appointed.

Mr. Chair, my name is Stephanie McNeill, and I am a shareholder. I move that the nominees be elected as Directors of the corporation to hold office until the next Annual Meeting of Shareholders or until their successors are elected or appointed.

Mr. Chair, my name is Aaron Katerenchuk, and I am a shareholder. I second the motion.

I will now ask the Secretary to please advise if any questions specific to the motion were submitted.

No questions, Mr. Chair.

Thank you. Please record your vote now, remembering that if you have already voted in advance and do not wish to change your vote, no further action is required. [Voting]

Now we'll move on to the appointment of auditors, which is the final item of business for this meeting. May I please have a motion with regards to the appointment of auditors?

Mr. Chair, my name is Stephanie McNeill, and I am a shareholder. I move that KPMG LLP, Chartered Accountants, be appointed as the auditors of the corporation until the next Annual Meeting or until a successor is appointed and that their remuneration be fixed by the Board of Directors.

Mr. Chair, my name is Aaron Katerenchuk, and I am a shareholder. I second the motion.

You have now heard the motion. I'll ask the Secretary, Mr. Bennett, to please advise if any questions specific to this motion were submitted?

No, Mr. Chair, there were no questions submitted specific to this motion.

Thank you. Well, please record your vote now. And remembering again that if you have voted in advance and do not wish to change your vote, no further action is required. [Voting]

All right. I will now provide the preliminary results of the voting. I have now received the preliminary voting results from the scrutineers. And can advise that each of the motions brought before the meeting has passed by a majority of the votes cast. Accordingly, I declare each of the resolutions considered at today's meeting as carried. The exact number of votes cast in respect of each matter voted on at the meeting will be filed on the corporation's profile on SEDAR and made available on our website. Thank you again to all shareholders and proxy shareholders for your attendance today. As there's no further business to be brought before the meeting, may I have a motion, please, to terminate the formal part of the meeting.

Mr. Chair, my name is Stephanie McNeill, and I am a shareholder. I move that the meeting be terminated.

Mr. Chair, my name is Aaron Katerenchuk, and I am a shareholder. I second the motion.

I will now ask the Secretary to please advise if there's any questions specific to this motion -- to this particular motion that were submitted.

Mr. Chair, once again, no questions submitted.

Thank you. I declare the motion carried and this meeting to be concluded. Thank you, everyone, in attendance.