Capitan Investment Ltd. — AGM Information 2021

Nov 8, 2021

SAHARA ENERGY LTD.

NOTICE OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 6, 2021

NOTICE IS HEREBY GIVEN that an Annual and Special Meeting (" Meeting ") of the holders (" Shareholders ") of common shares of Sahara Energy Ltd. (" Corporation ") will be held at the office of MILES DAVISON LLP at Suite 900, 517 – 10 Avenue SW, Calgary, AB T2R 0A8 on DECEMBER 6, 2021, at 2:00 P.M. (Calgary time), for the following purposes:

1. To receive the audited financial statements for the year ended December 31, 2020 and the report of the auditors thereon.

2. To fix the number of directors of the Corporation to be elected at the Meeting at ten (10);

3. To elect the directors of the Corporation for the ensuing year.

4. To appoint the auditors of the Corporation for the ensuing year and to authorize the directors to fix the remuneration to be paid to the auditors.

5. To change the name of the Corporation to Capitan Investment Ltd. by special resolution.

6. To transact such other business as may properly be brought before the Meeting or any adjournment or adjournments thereof.

Shareholders are referred to the Information Circular for more detailed information with respect to the matters to be considered at the Meeting.

If you are a registered Shareholder and are unable to attend to the Meeting in person, please date and execute the accompanying form of proxy and return it in the envelope provided to Computershare Trust Company of Canada, registrar and transfer agent of the Corporation, at 100 University Avenue, 8[th] Floor, North Tower, Toronto, Ontario, M5J 2Y1, Attention: Proxy Department, or by facsimile, at 1-866-249-7775 by no later than 2:00 p.m. (Calgary time) on December 2, 2021. Registered Shareholders may also vote by phone or on the internet at www.investorvote.com as detailed on the form of proxy.

If you are an unregistered Shareholder and receive these materials through you broker or through another intermediary, please complete and return the form of proxy in accordance with the instructions provided to you by your broker or by the other intermediary.

The directors of the Corporation have fixed November 1, 2021 as the record date. Shareholders of record at the close of business on November 1, 2021 are entitled to notice of the Meeting and to vote thereat or at any adjournment(s) thereof. The transfer books will not be closed.

Dated at Calgary, Alberta this 1[st] day of November, 2021.

BY ORDER OF THE BOARD OF DIRECTORS

signed ("Fiona Wang") Fiona Wang Vice-President