Pipestone Energy Corp. — Proxy Solicitation & Information Statement 2022

May 19, 2022

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Notice of Availability of Proxy Materials for Pipestone Energy Corp. Annual General Meeting

Meeting Date and Time: June 23, 2022 at 10:00 am (MT time)

Location: Virtual Meeting - https://web.lumiagm.com/227418569

Please be advised that the proxy materials for the above noted securityholder meeting are available for viewing and downloading online. This document provides an overview of these materials, but you are reminded to access and review the management information circular and other proxy materials (the “ Materials ”) available online prior to voting. These Materials are available at:

https://odysseytrust.com/client/pipe/

OR

www.sedar.com

Obtaining Paper Copies of the Proxy Materials

Securityholders may request to receive paper copies of the Materials related to the above referenced meeting by mail at no cost. Requests for paper copies must be received by June 10, 2022 in order to receive the paper copy in advance of the meeting. Shareholders may request to receive a paper copy of the Materials for up to one year from the date the Materials were filed on www.sedar.com.

For more information regarding notice-and-access or to obtain a paper copy of the Materials you may contact our transfer agent, Odyssey Trust Company, via www.odysseycontact.com or by phone at 1-888290-1175 (toll-free within North America) or 1-587-885-0960 (direct from outside North America).

Notice of Meeting

The resolutions to be voted on at the meeting, described in detail in the management information circular, are as follows:

Appointment of Auditor:

Shareholders will be asked to appoint Ernst & Young LLP as auditors of Pipestone Energy Corp. (the “ Corporation ”), to hold office until the next annual meeting of the shareholders, at such remuneration to be determined and fixed by the board of directors of the Corporation. Information respecting the appointment of auditor may be found in the management information circular under “ Appointment of Auditors ”.

Election of Directors: Shareholders will be asked to elect directors for the ensuing year. Information respecting the election of directors may be found in the management information circular under “ Election of Directors ”.

Other Business: Shareholders may be asked to transact other items of business that may be properly brought before the meeting or any adjournment thereof.

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Voting

To vote your securities, please refer to the instructions on the enclosed proxy or voting instruction form. Your proxy or voting instruction form must be received by June 21, 2022, at 10:00 am Mountain Time.

Stratification

The Corporation is providing paper copies of its management information circular only to those beneficial shareholders that have previously requested to receive paper materials.

Annual Financial Statements

The Corporation is providing paper copies or emailing electronic copies of its annual financial statements to registered shareholders and beneficial shareholders that have opted to receive annual financial statements and have indicated a preference for either delivery method.