ACT Energy Technologies Ltd. — Board/Management Information 2023

Jan 24, 2023

FORM 51-102F3 MATERIAL CHANGE REPORT

1. Name and Address of Company:

Cathedral Energy Services Ltd. (" Cathedral " or the " Company ") 6030 - 3 Street S.E.

Calgary, AB T2H 1K2

2. Date of Material Change:

January 13, 2023

3. News Release:

A news release was issued and disseminated through the facilities of Canada NewsWire and filed on SEDAR on January 13, 2023.

4. Summary of Material Change:

On January 13, 2023, Cathedral announced the immediate departure of the Company's Chief Financial Officer, Chad Robinson, and the appointment of Scott MacFarlane as Interim Chief Financial Officer.

5. Full Description of Material Change:

5.1 Full Description of Material Change

Management Update

On January 13, 2023, Cathedral announced that the Company's Chief Financial Officer, Chad Robinson, had departed the Company effective immediately. The Company also announced that while the Company searches for a new Chief Financial Officer, Scott MacFarlane had been appointed as Interim Chief Financial Officer. Mr. MacFarlane has previously served as the Company's long-time Chief Financial Officer, and also served as the Company's President, Chief Executive Officer and a Director prior to his retirement in 2021.

5.2 Disclosure of Restructuring Transaction

Not applicable.

6. Reliance on Subsection 7.1(2) of National Instrument 51-102:

Not applicable.

7. Omitted Information:

Not applicable.

8. Executive Officer:

The name and business telephone number of the executive officer of Cathedral who is knowledgeable about the material change and this report is:

Tom Connors President & Chief Executive Officer (403) 265-2560

9. Date of Report:

January 23, 2023.