Keyera Corp. — Proxy Solicitation & Information Statement 2026

Apr 14, 2026

KEYERA

ODYSSEY
Trader's Bank Building
1100, 67 Yonge Street
Toronto ON M5E 1J8

Form of Proxy – Annual and Special Meeting to be held on Thursday, May 14, 2026

Appointment of Proxyholder

I/We being the undersigned shareholder(s) of Keyera Corp. ("Keyera") hereby appoint Jim Bertram, Chair of the board of directors of Keyera or failing this person, Dean Setoguchi, President and CEO (the "Management Nominees")

OR

Print the name of the person or company you are appointing if this person is someone other than the Management Nominees listed herein:

as my/our proxyholder with full power of substitution and to attend, act, and to vote for and on behalf of the shareholder 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 shareholders of Keyera ("Meeting") to be held in a hybrid format, whereby shareholders may attend and participate at the Meeting in person at Lumi Experience Studio, Suite 1410, 225 – 6th Avenue SW, Calgary, Alberta, T2P 3S9 or via the live audio webcast online at https://meetings.lumiconnect.com/400-290-456-962 on Thursday, May 14, 2026 at 10:00 am (MDT) or at any adjournment or postponement thereof.

1. Election of Directors.	For	Withhold		For	Withhold		For	Withhold
a. Jim Bertram	☐	☐	b. Isabelle Brassard	☐	☐	c. Michael Crothers	☐	☐
d. Blair Goertzen	☐	☐	e. T. Tim Kitchen	☐	☐	f. Bob Pritchard	☐	☐
g. Charlene Ripley	☐	☐	h. Dean Setoguchi	☐	☐	i. Janet Woodruff	☐	☐
j. Renee Zemljak	☐	☐
2. Appointment of Auditors. To re-appoint Deloitte LLP as our independent auditors, to hold office for a one-year term until the close of our next annual meeting and authorize the board of directors of Keyera to fix their remuneration.							For	Withhold
3. Shareholder Rights Plan. To consider and, and if thought advisable, pass an ordinary resolution, the full text of which is set forth in the information circular published by Keyera in connection with the Meeting (the "Circular"), to ratify, confirm and approve the renewal of the Shareholder Rights Plan, as more particularly described in the Circular.							For	Against
4. Executive Compensation. To vote, on an advisory, non-binding basis, on an ordinary resolution, the full text of which is set forth in the Circular, with respect to Keyera's approach to executive compensation as more particularly described in the Circular under the headings "Business of the Meeting" and "Compensation Discussion and Analysis", which advisory resolution shall not diminish the roles and responsibilities of the board of directors.							For	Against

Authorized Signature(s) – This section must be completed for your 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 indicated above, and the Management Nominees are appointed proxyholders, this Proxy will be voted as recommended by the board of directors.

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.

Signature(s):

Date

MM / DD / YY

Annual Financial Statements – Check the box to the right if you would like to NOT RECEIVE the Annual Financial Statements and accompanying Management's Discussion and Analysis by mail. See reverse for instructions to sign up for delivery by email.

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

This form of proxy is solicited by and on behalf of Management. Proxies must be received by 10:00 AM (MDT), on Tuesday, May 12, 2026.

Notes to Proxy

1. Each holder has the right to appoint a person or company, who need not be a holder, to attend and represent them at the 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 of 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 and the Management Nominees named on the reverse are appointed proxyholders this proxy will be voted as recommended by the board of directors.
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. The persons named in the enclosed proxy will have discretionary authority with respect to any amendments or variations of the matters of business to be acted on at the Meeting or any adjournment or postponement thereof, in each instance, to the extent permitted by law, whether or not the amendment, variation or other matter that comes before the Meeting is routine and whether or not the variation or other matter that comes before the Meeting is contested.
8. This proxy should be read in conjunction with the accompanying documentation provided by Management.

To Vote Your Proxy Online please visit: https://vote.odysseytrust.com

You will require the CONTROL NUMBER printed with your address to the right.

You can attend the Meeting virtually by visiting https://meetings.lumiconnect.com and entering the meeting ID 400-290-456-962. For further information on the virtual Meeting and how to attend it, please view the Circular. The Meeting Password will be: "keyera2026" case sensitive.

If you vote by Internet, do not mail this proxy.

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 https://odysseytrust.com/ca-en/help/.

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.