ARC Resources Ltd. — Proxy Solicitation & Information Statement 2021

May 18, 2021

NOTICE OF ANNUAL MEETING OF SHAREHOLDERS

Meeting Information

Agenda for the Meeting

• Date: Thursday, 1. Receive the consolidated financial statements for the year June 22, 2021 ended December 31, 2020 and the Auditors’ report thereon

• Time: 8:00 a.m. 2. To elect the Directors of the Company (Calgary time) 3. To approve an advisory resolution on executive compensation 4. To appoint the Auditors of the Company

• Place: Virtually 5. To transact such other business as may properly be brought before the meeting or any adjournment thereof

The specific details of the matters proposed to be put before the meeting are set forth in the following pages of this information circular.

Registered shareholders of the Company who are not attending the meeting in person, virtually, are requested to complete, date, and sign the form of proxy, and return it by mail, hand delivery, or fax to ARC’s transfer agent, Computershare Trust Company of Canada, as follows:

BY MAIL	BY HAND	BY FACSIMILE	BY TELEPHONE	BY INTERNET
Computershare Trust	Computershare Trust	1-416-263-9524	1-866-732-8683	www.investorvote.com
Company of Canada	Company of Canada	or	(toll-free)
Proxy Department	100 University Avenue	1-866-249-7775
135 West Beaver Creek	8th Floor
P.O. Box 300	Toronto, Ontario
Richmond Hill, Ontario,	M5J 2Y1
L4B 4R5

You will require your 15-digit control number found on your proxy form to vote through the internet or by telephone.

In order to be valid and acted upon at the meeting, forms of proxy as well as votes by internet and telephone must be received in each case not less than 48 hours (excluding weekends and holidays) before the time set for the holding of the meeting or any adjournment thereof.

If you hold your Common Shares through an intermediary, then you should follow the instructions on the voting instruction form provided by the intermediaries with respect to the procedures to be followed for voting at the meeting.

The Board of Directors of the Company has fixed the record date for the meeting at the close of business on May 3, 2021.

In alignment with the recommendations of Canadian public health officials in response to the novel coronavirus COVID-19 (“COVID-19”) pandemic and due to restrictions on mass gatherings implemented by the Government of Alberta, the Company will hold its Annual Meeting virtually via live webcast. As always, the Company encourages shareholders to vote their shares prior to the Annual Meeting.

DATED at Calgary, Alberta, this 11th day of May 2021. BY ORDER OF THE BOARD OF DIRECTORS

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Terry Anderson President and Chief Executive Officer

2021 Information Circular