BRUNSWICK EXPLORATION INC. — Proxy Solicitation & Information Statement 2025

May 12, 2025

BRUNSWICK EXPLORATION INC.

Notice of Annual Meeting of Shareholders

NOTICE IS HEREBY GIVEN THAT an annual meeting of the shareholders (the “Meeting”) of Brunswick Exploration Inc. (the “Corporation”) will be held on Thursday, June 12, 2025, at 3:00 p.m. (Eastern Time), at 1, Place Ville Marie, 40th Floor, Montréal, Québec, for the following purposes:

1. to receive the annual report of the Corporation, containing the financial statements of the Corporation for the year ended December 31, 2024 and the report of the auditors thereon (the “Financial Statements”);
2. to elect the directors for the ensuing year;
3. to appoint the auditors of the Corporation for the ensuing year and authorize the directors to fix their remuneration;
4. to consider and, if deemed advisable, to adopt, a resolution in the form annexed as Schedule “D” to the accompanying management proxy circular of the Corporation dated April 30, 2025 (the “Management Circular”), ratifying, approving and confirming the Corporation’s deferred share unit plan, as more particularly described in the Management Circular;
5. to consider and, if deemed advisable, to adopt, a resolution in the form annexed as Schedule “F” to the accompanying the Management Circular, ratifying, approving and confirming the Corporation’s stock option plan, as more particularly described in the Management Circular; and
6. to transact such other business as may properly come before the Meeting or any adjournment thereof.

The Management Circular enclosed herein provides detailed information on the items that will be brought before the Meeting and is therefore to be considered as forming a part of this notice.

Pursuant to Canadian securities laws, we are no longer required to distribute physical copies of the meeting materials to our Shareholders for the Meeting, namely the Management Circular, our management’s discussion and analysis for the financial year ended December 31, 2024 (the “MD&A”) and the Financial Statements (collectively, the “Meeting Materials”).

Instead, we are posting electronic versions of the Meeting Materials on a website for shareholder review, a process known as “notice and access”. Electronic copies may be accessed at https://docs.tsxtrust.com/2365 or on the Corporation’s SEDAR+ profile at www.sedarplus.ca.

Should you wish to receive paper copies of the Meeting Materials prior to the Meeting, or should you have any questions regarding the use of notice-and-access by the Corporation, please contact TSX Trust Company (“TSX Trust”) at 1-866-600-5869 (toll free in Canada and the United States) or 416-342-1091 (outside North America) or at tsxtis@tmx.com, or the Corporation at (514) 861-4441, or send an email to info@brwexplo.ca, and we will send them by postal delivery at no cost within three business days of your request. We must receive your request no later than 5:00 p.m. (Eastern Time), on June 3, 2025, to ensure you will receive paper copies in advance of the deadline to submit your vote.

Montréal, April 30, 2025.

BY ORDER OF THE BOARD OF DIRECTORS

(s) Robert P. Wares
Robert P. Wares, Chairman

---

• 2 -

IMPORTANT

Holders of shares may exercise their rights by attending the Meeting or by completing a proxy form. Those who are unable to attend the Meeting in person are urged to complete and sign the enclosed form of proxy and return it to the Corporation's transfer agent, TSX Trust Company ("TSX Trust"), by mail, at 100 Adelaide Street West, Suite 301, Toronto, Ontario, M5H 4H1, or by fax to 1-416-595-9593 before 3:00 p.m. (Eastern Time) on June 10, 2025. A person appointed as proxy does not need to be a shareholder of the Corporation.

The Corporation urges shareholders to review the Meeting Materials before voting.