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Storm Resources Ltd. Declaration of Voting Results & Voting Rights Announcements 2021

Dec 16, 2021

46632_rns_2021-12-15_45a6901a-fa33-4e87-978e-3b0b2094eedf.pdf

Declaration of Voting Results & Voting Rights Announcements

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STORM RESOURCES LTD. (the “Corporation”)

SPECIAL MEETING OF SHAREHOLDERS HELD ON DECEMBER 15, 2021

REPORT ON VOTING RESULTS

National Instrument 51 - 102 – Continuous Disclosure Obligations - Section 11.3

The following matter was voted upon at the special meeting (the " Meeting ") of holders (" Shareholders ") of common shares (" Company Shares ") of Storm Resources Ltd. (the " Company ") and holders (" Optionholders ", and together with the Shareholders, the " Securityholders ") of options to acquire Company Shares held on Wednesday, December 15, 2021 to approve an arrangement (the " Arrangement ") under section 193 of the Business Corporations Act (Alberta) involving, among others, the Company, Canadian Natural Resources Limited (the " Purchaser ") and the Securityholders, pursuant to which, among other things, the Purchaser will acquire all of the issued and outstanding Company Shares at a price of $6.28, in cash, per Company Share. The matter voted upon is described in greater detail in the management information circular of the Company dated November 19, 2021, which is available on the Company's website at www.raiseproduction.com and on the Company's corporate profile on SEDAR at www.sedar.com.

Matter Voted On

The special resolution approving the Arrangement (the “Arrangement Resolution”) was passed with the requisite number of votes based on voting by ballot as follows:

  • Outcome of Vote

    1. By the Shareholders present in person or represented by proxy at For the motion: 99.03% (67,728,548) the Meeting[1] Against the motion: 0.97% (655,210) Result: Carried
    1. By the Securityholders present in person or represented by proxy at For the motion: 97.62% (73,997,848) the Meeting, voting together as a single class[2] Against the motion: 2.38% (1,801,010) Result: Carried
    1. By the Shareholders present in person or represented by proxy at For the motion: 98.82% (55,788,924) the Meeting, after excluding the votes cast by those persons whose Against the motion: 1.18% (665,210) votes must be excluded in accordance with Multilateral Instrument Result: Carried 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61- 101 ")[3]

Notes:

(1) More than two-thirds of the votes cast by the Shareholders present in person or represented by proxy at the Meeting, as required by the interim order of the Court of Queen's Bench of Alberta (the " Court ").

(2) More than two-thirds of the votes cast by the Securityholders present in person or represented by proxy at the Meeting, voting together as a single class, as required by the interim order of the Court.

(3) More than 50% of the votes cast on the Arrangement Resolution by the Shareholders present in person or represented by proxy at the Meeting, after excluding the votes cast by those persons whose votes must be excluded in accordance with MI 61- 101 , as required by the interim order of the Court.