Blue Sky Uranium Corp. — Capital/Financing Update 2025

Nov 19, 2025

McCarthy Tétrault LLP
Suite 4000
421-7th Avenue S.W.
Calgary AB T2P 4K9
Canada

mcCarthy tetrault

November 18, 2025

VIA SEDAR+

• Alberta Securities Commission
• British Columbia Securities Commission
• Financial and Consumer Affairs Authority of Saskatchewan
• Manitoba Securities Commission
• Ontario Securities Commission
• Autorité des marchés financiers
• Financial and Consumer Services Commission, New Brunswick
• Nova Scotia Securities Commission
• Financial and Consumer Services Division, Prince Edward Island
• Office of the Superintendent of Securities, Service Newfoundland and Labrador
• Office of the Superintendent of Securities, Northwest Territories
• Office of the Superintendent of Securities, Nunavut
• Office of the Yukon Superintendent of Securities

Dear Sirs/Mesdames:

Re: Cenovus Energy Inc. (the "Company")

We refer to the prospectus supplement dated November 18, 2025 to the short form base shelf prospectus of the Company dated November 3, 2023 (the "Prospectus Supplement") relating to a distribution by the Company of 4.25% senior unsecured notes due March 20, 2033 and 4.60% senior unsecured notes due November 20, 2035.

In the Prospectus Supplement, reference is made to this firm on the cover page and under the headings "Plan of Distribution" and "Legal Matters" and to the name and opinion of this firm under the headings "Eligibility for Investment" and "Certain Canadian Federal Income Tax Considerations". We hereby consent to being named in the Prospectus Supplement and to the use of our opinion therein.

We confirm that we have read the Prospectus Supplement and that we have no reason to believe that there are any misrepresentations in the information contained in the Prospectus Supplement that are derived from our opinion referred to above or that are within our knowledge as a result of the services we have performed to render the opinion.

Yours truly,

McCarthy Tétrault LLP

/s/ "McCarthy Tétrault LLP"