Record Resources Inc. — Board/Management Information 2025

Nov 7, 2025

FORM 51-102F3
Material Change Report

Item 1
Reporting Issuer

Record Resources Inc. (the “Company”)
600 - 12220 Stony Plain Road NW
Edmonton, Alberta
T5N 3Y4

Item 2
Date of Material Change

A material change took place on November 3, 2025.

Item 3
Press Release

A press release in respect of the material change was disseminated by the Company through the facilities of Newsfile Corp. on November 3, 2025.

Item 4
Summary of Material Change

The Board of Directors of the Company appointed a new director, Mr. Robin Sutherland, to join the Board of Directors effective November 3, 2025.

Item 5.1
Full Description of Material Change

The Company reports that it has as appointed ex-Tullow Oil executive, Robin Sutherland, as director.

Sutherland was Exploration Manager for Tullow Oil during the discovery and appraisal of Ghana’s Jubilee Oil Field in 2007. The field was co-developed by Kosmos Energy, Anadarko, and Tullow. Jubilee was considered one of the largest oil discoveries of its kind in West Africa. During its peak it was producing over 110,000 barrels of oil per day.

Sutherland was also instrumental in the discovery and appraisal of the TEN oil fields in Ghana and exploration and appraisal campaigns across the east African rift, including the South Lokichar basin in Kenya, before becoming Tullow’s General Manager Exploration Africa in 2015.

Sutherland is presently a director of Invictus Energy Limited. He is joined there by well-known oil and gas executive, John Bentley, the leader of the management team that launched Cape Town-Energy Africa Ltd in 1995. Sutherland joined Energy Africa in 1997 as a specialist geophysicist and was instrumental in making several important hydrocarbon resource discoveries prior to the acquisition of Energy Africa by Tullow in 2004.

In 2020, Robin launched a successful consultancy business, assisting companies with exploration, appraisal and development of Africa’s extensive natural resources. During this period he co-founded the Mozambique-Southern Africa Power Project designed to utilize Mozambique’s gas resources to generate power locally and across southern Africa.

Record Resources President and COO, Alain Mizelle, said “Robin has been in the oil and gas E&P business for 40 years. He is not only an outstanding career specialist geophysicist, but his track record of achievements as an oil and gas finder

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for Energy Africa, Tullow Oil and recently Invictus speaks loudly. He will reinforce greatly our board and the success of the company."

The appointment of Robin Sutherland to the Board of Directors of the Company is subject to approval of the TSX Venture Exchange.

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Item 5.2
Disclosure for Restructuring Transactions
Not applicable.

Item 6
Reliance on subsection 7.1(2) of National Instrument 51-102
Not applicable.

Item 7
Omitted Information
There is no information of a material nature that has been omitted from this material change report.

Item 8
Executive Officer
The name and business telephone number of an executive officer of the Company who is knowledgeable about the material change and this report is:
David A. Johnson
514-710-4569

Item 9
Date of Report
DATED at Montréal, Québec, on this 7th day of November, 2025.

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