Bonterra Energy Corp. — Proxy Solicitation & Information Statement 2021

Apr 22, 2021

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Bonterra Energy Corp.

Form of Proxy – Annual and Special Meeting to be held on Thursday May 20, 2021

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Stock Exchange Tower 1230, 300 5[th] Ave SW Calgary, AB T2P 3C4

Appointment of Proxyholder Print the name of the person you are appointing if this person I/We being the undersigned holder(s) of Bonterra Energy Corp. hereby appoint is someone other than the Management Nominees listed herein: George F. Fink, Director and Chief Executive Officer of the Corporation or failing this person, OR Robb D. Thompson, Chief Financial Officer and Corporate Secretary of the Corporation.

as my/our proxyholder with full power of substitution and to attend, act, and to vote for and on behalf of the holder in accordance with the following direction (or if no directions have been given, as the proxyholder sees fit) and all other matters that may properly come before the Annual and Special Meeting of Bonterra Energy Corp. to be held virtually via live audio webcast, online at https://web.lumiagm.com/278270761 on Thursday May 20, 2021 at 10:00 a.m. (Calgary time) or at any adjournment thereof.

1.Election of Directors.ForWithholdForWithholdForWithholda.George F. Fink b.Rodger A. Tourigny c.John J. Campbell d.Jacqueline R. Ricci e.D. Michael G. Stewart	1.Election of Directors.ForWithholdForWithholdForWithholda.George F. Fink b.Rodger A. Tourigny c.John J. Campbell d.Jacqueline R. Ricci e.D. Michael G. Stewart	1.Election of Directors.ForWithholdForWithholdForWithholda.George F. Fink b.Rodger A. Tourigny c.John J. Campbell d.Jacqueline R. Ricci e.D. Michael G. Stewart	1.Election of Directors.ForWithholdForWithholdForWithholda.George F. Fink b.Rodger A. Tourigny c.John J. Campbell d.Jacqueline R. Ricci e.D. Michael G. Stewart	1.Election of Directors.ForWithholdForWithholdForWithholda.George F. Fink b.Rodger A. Tourigny c.John J. Campbell d.Jacqueline R. Ricci e.D. Michael G. Stewart
**2. Appointment of Auditors.**Appointment of Deloitte LLP, Chartered Professional Accountants as the auditors of the Corporation for the ensuingd t thi th Bd f Dit t fi thi tiForWithhold
year an o auorze e oar o recors o x er remuneraon.
**3. Advance Notice Provisions.**To confirm and approve the Amended By-Law No. 1 in the form set forth in Schedule “B” to the ManagementForAgainst
Information Circular.

3. Advance Notice Provisions. To confirm and approve the Amended By-Law No. 1 in the form set forth in Schedule “B” to the Management Information Circular.

Authorized Signature(s) – This section must be completed for your Signature(s): Date instructions to be executed. I/We authorize you to act in accordance with my/our instructions set out above. I/We hereby / / revoke any proxy previously given with respect to the Meeting. If no voting instructions are MM / DD / YY

I/We authorize you to act in accordance with my/our instructions set out above. I/We hereby revoke any proxy previously given with respect to the Meeting. If no voting instructions are indicated above, this Proxy will be voted as recommended by Management.

Interim Financial Statements – Check the box to the right if you would like to RECEIVE interim financial statements and accompanying Management’s Discussion & Analysis by mail. See reverse for instructions to sign up for delivery by email.

Annual Report – Check the box to the right if you would like to DECLINE to receive the Annual Report and accompanying Management’s Discussion and Analysis by mail.

This form of proxy is solicited by and on behalf of Management.

Proxies must be received by 10:00 a.m., Calgary time, on Tuesday, May 18, 2021.

Notes to Proxy

1. Each holder has the right to appoint a person, who need not be a holder, to attend and represent him or her at the Annual and Special Meeting. If you wish to appoint a person other than the persons whose names are printed herein, please insert the name of your chosen proxyholder in the space provided on the reverse.

2. If the securities are registered in the name of more than one holder (for example, joint ownership, trustees, executors, etc.) then all the registered owners must sign this proxy in the space provided on the reverse. If you are voting on behalf of a corporation or another individual, you may be required to provide documentation evidencing your power to sign this proxy with signing capacity stated.

3. This proxy should be signed in the exact manner as the name appears on the proxy.

4. If this proxy is not dated, it will be deemed to bear the date on which it is mailed by Management to the holder.

5. The securities represented by this proxy will be voted as directed by the holder; however, if such a direction is not made in respect of any matter, this proxy will be voted as recommended by Management.

6. The securities represented by this proxy will be voted or withheld from voting, in accordance with the instructions of the holder, on any ballot that may be called for and, if the holder has specified a choice with respect to any matter to be acted on, the securities will be voted accordingly.

7. This proxy confers discretionary authority in respect of amendments to matters identified in the Notice of Meeting or other matters that may properly come before the meeting.

8. This proxy should be read in conjunction with the accompanying documentation provided by Management.

INSTEAD OF MAILING THIS PROXY, YOU MAY SUBMIT YOUR PROXY USING SECURE ONLINE VOTING AVAILABLE ANYTIME:

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To Vote Your Proxy Online please visit:

https://login.odysseytrust.com/pxlogin

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and click on

You will require the CONTROL NUMBER printed with your address to the right. If you vote by Internet, do not mail this proxy.

Shareholder Address and Control Number Here

To Virtually Attend the Meeting:

You can attend the meeting virtually by visiting https://web.lumiagm.com and entering the meeting ID 278-270-761. For further information on the virtual AGM and how to attend it, please view the Information Circular.

To request the receipt of future documents via email and/or to sign up for Securityholder Online services, you may contact Odyssey Trust Company at info@odysseytrust.com.

Voting by mail may be the only method for securities held in the name of a corporation or securities being voted on behalf of another individual. A return envelope has been enclosed for voting by mail.