Prospera Energy Inc. — Management Reports 2022

May 19, 2022

(403) 454-9010

admin@prosperaenergy.com

www.prosperaenergy.com Suite 730, 444 – 7[th] Avenue SW Calgary, AB T2P 0X8

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PROSPERA ENERGY INC. FORM 51-101 F3

Report of Management and Directors on Oil and Gas Reserves

Management of Prospera Energy Inc. (the “Corporation”) is responsible for the preparation and disclosure of information with respect to the Corporation’s oil and gas activities in accordance with securities regulatory requirements. The information includes reserves data which are estimates of proved reserves and probable reserves and related future net revenue as of December 31, 2021, estimated using forecast prices and costs.

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 board of directors of the Corporation has

• (a) reviewed the Corporation’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 board of directors has reviewed the Corporation’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 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.

Dated May 19, 2022

”Samuel David” (Signed) “Mel Clifford” (Signed) Samuel David Mel Clifford President and CEO / Director Chair of Audit Committee / Director

“Matthew Kenna” (Signed) Matthew Kenna Chief Financial Officer

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