Cavvy Energy Ltd. — Proxy Solicitation & Information Statement 2022

Apr 29, 2022

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8th Floor, 100 University Avenue Toronto, Ontario M5J 2Y1 www.computershare.com

Security Class

Holder Account Number

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Form of Proxy - Annual General and Special Meeting to be held on Thursday, May 26, 2022

This Form of Proxy is solicited by and on behalf of Management. Notes to proxy

1. Every holder of the securities identified above, has the right to appoint some other individual or company of their choice, who need not be a holder, to attend and act on their behalf at the meeting or any adjournment or postponement thereof. If you wish to appoint a individual or company other than the Management Nominees whose names are printed herein, please insert the name of your chosen proxyholder in the space provided (see reverse).

2. If the securities are registered in the name of more than one owner (for example, joint ownership, trustees, executors, etc.), then all those registered should sign this proxy. 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(s) appear(s) on the front of this proxy.

4. If a date is not inserted in the space provided on the reverse of this proxy, it will be deemed to bear the date on which it was mailed to the holder by Management.

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, and the proxy appoints the Management Nominees listed on the reverse, this proxy will be voted as recommended by Management.

1. The securities represented by this proxy will be voted in favour, or withheld from voting, or voted against each of the matters described herein, as applicable, in accordance with the instructions of the holder, on any ballot that may be called for. If you have completed this proxy by specifying a choice with respect to any matter to be acted on (see reverse) and have submitted the proxy in accordance with its terms, the securities will be voted in accordance with each specified choice.

2. This proxy confers discretionary authority in respect of amendments or variations to matters identified in the Notice of Meeting and Management Information Circular or other matters that may properly come before the meeting or any adjournment or postponement thereof, unless prohibited by law.

3. This proxy should be read in conjunction with the accompanying documentation provided by Management which includes important information such as the procedure to be followed in order for the proxyholder to vote and the manner for revoking a proxy once submitted.

Proxies submitted must be received by 8:30 am, Mountain Time, on Tuesday May 24, 2022.

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In order to submit a proxy, please mail it to Computershare in the enclosed self-addressed envelope. If you do not wish to submit a proxy, please vote the securities in accordance with the instructions below.

If you do not wish to submit a proxy, you may vote using the telephone or internet 24 hours a day 7 days a week as follows:

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To Vote Using the Telephone

• Call the number listed BELOW from a touch tone telephone.

• 1-866-732-VOTE (8683) Toll Free

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To Vote Using the Internet

• Go to the following web site:

www.investorvote.com

• Smartphone?

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To Virtually Attend the Meeting

• You can attend the meeting virtually by visiting the URL provided on the back of this proxy.

• Scan the QR code to vote now.

If you vote by telephone or the Internet, DO NOT mail back this proxy.

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. Voting by mail or by Internet are the only methods by which a holder may appoint a person as proxyholder other than the Management Nominees named on the reverse of this proxy. Instead of mailing this proxy, you may choose one of the two voting methods outlined above to vote this proxy.

To vote by telephone or the Internet, you will need to provide your CONTROL NUMBER listed below.

CONTROL NUMBER

01TNUA

Appointment of Proxyholder

I/We being holder(s) of securities of Pieridae Energy Limited (the “Corporation”) hereby appoint: Alfred Sorensen CEO of Pieridae, or failing this person, Darcy Reding President and COO of Pieridae (the “Management Nominees”)

Print the name of the person you are OR appointing if this person is someone other than the Management Nominees listed herein.

Note: If completing the appointment box above YOU MUST go to http://www.computershare.com/Pieridae and provide Computershare with the name and email address of the person you are appointing. Computershare will use this information ONLY to provide the appointee with a user name to gain entry to the online meeting.

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 on all other matters that may properly come before the Annual General and Special Meeting of shareholders of the Corporation to be held online at meetnow.global/M4UGSLX on Thursday, May 26, 2022 at 8:30 am, Mountain Time and at any adjournment or postponement thereof.

VOTING RECOMMENDATIONS ARE INDICATED BY HIGHLIGHTED TEXT OVER THE BOXES.

										For	Against
1. Number of Directors
To consider and, if deemed advisable, to fx	the number of			Directors of the Corporation to be elected as eight.								Fold
2. Election of Directors
	For	Withhold				For	Withhold			For	Withhold
01. Alfred Sorensen					02. Charles Boulanger			03. Andrew Judson
04. Kiren Singh					05. Richard Couillard			06. Patricia McLeod Q.C.
07. Gail Harding Q.C.					08. Doug Dreisinger
										For	Withhold
3. Appointment of Auditors
Appointment of Ernst & Young LLP chartered professional				accountants as Auditors for the ensuing year and		authorize the board of directors to fx the remuneration
of the auditors.
										For	Against
4. Amended and Restated Stock	Option		Plan
To consider and, if deemed advisable, to pass an ordinary resolution approving the Stock Option Plan.
									For	Abstain Against
5. Advisory vote on executive compensation												Fold
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To accept Pieridae’s approach to executive compensation, as discussed in the Management Information Circular.

Signature of Proxyholder

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, and the proxy appoints the Management Nominees, this Proxy will be voted as recommended by Management.

Signature(s)	MM /DD /YY Date

Interim Financial Statements would like to receive Interim Financial Statements and – Mark this box if you Annual Financial Statements – would like to receive the Annual Financial Statements and Mark this box if you Information Circular – Mark this box if you would like to receive the Information Circular by mail for the next accompanying Management’s Discussion and Analysis accompanying Management’s Discussion and Analysis securityholders’ meeting. by mail. by mail.

If you are not mailing back your proxy, you may register online to receive the above financial report(s) by mail at www.computershare.com/mailinglist.

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01TNVC