Frontera Energy Corporation — Management Reports 2021

Mar 4, 2021

FORM 51-101F3

REPORT OF MANAGEMENT AND DIRECTORS ON RESERVES DATA AND OTHER INFORMATION

Management of Frontera Energy Corporation (the “ Company ”) are responsible for the preparation and disclosure of information with respect to the Company’s oil and gas activities in accordance with securities regulatory requirements. This information includes reserves data.

An independent qualified reserves evaluator has evaluated the Company’s reserves data . The report of the independent qualified reserves evaluator will be filed with securities regulatory authorities concurrently with this report.

The Audit Committee of the Board of Directors of the Company has:

• (a) reviewed the Company’s procedures for providing information to the independent qualified reserves evaluator;

• (b) met with the independent qualified reserves evaluator to determine whether any restrictions affected the ability of the independent qualified reserves evaluator to report without reservation; and

• (c) reviewed the reserves data with management and the independent qualified reserves evaluator.

The Audit Committee of the Board of Directors has reviewed the Company’s procedures for assembling and reporting other information associated with oil and gas activities and has reviewed that information with management. The Board of Directors has, on the recommendation of the Audit Committee, approved

• (a) the content and filing with securities regulatory authorities of Form 51-101F1 containing reserves data and other oil and gas information;

• (b) the filing of Form 51-101F2, which is the report of the independent qualified reserves evaluator on the reserves data; and

• (c) the content and filing of this report.

Because the reserves data are based on judgements regarding future events, actual results will vary and the variations may be material.

(signed) “Richard Herbert” Richard Herbert Chief Executive Officer

(signed) “Duncan Nightingale” Duncan Nightingale Corporate Vice-President, Development, Reservoir Management, Exploration & New Business

(signed) “Gabriel de Alba” Gabriel de Alba Director and Chairman of the Board

(signed) Raymond Bromark Raymond Bromark

Director and Chair of the Audit Committee

Date: March 3, 2021