VALKEA RESOURCES CORP. — AGM Information 2020

Nov 23, 2020

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Delphi Energy Corp.

NOTICE OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS

NOTICE IS HEREBY GIVEN that the annual general and special meeting (“ Meeting ”) of the holders (“ Shareholders ”) of class A common shares (“ Class A Shares ”) in the capital of Delphi Energy Corp. (“ Delphi ”) will be held at 3:00 p.m. (Calgary time) on Friday, December 18, 2020 in the boardroom of Delphi at Suite 2300, 333 7[th] Ave S.W., Calgary, Alberta, Canada, and via videoconference at https://us02web.zoom.us/j/84938229689?pwd=ZDJvTVdYWkFGOEtPbHp0aStKS0ladz09 for the following purposes:

1. to receive the financial statements of Delphi for the year ended December 31, 2019 and the auditors’ report thereon;

2. to appoint auditors of Delphi for the ensuing year and authorize the board of directors of Delphi to fix their remuneration;

3. to elect directors for the ensuing year;

4. to consider and, if deemed advisable, to pass, with or without variation, a special resolution approving an amendment to the articles of the Corporation to change the name of the Corporation from “Delphi Energy Corp.” to “Distinction Energy Corp.” or, without further shareholder approval, such other name that the board of directors of the Corporation in its sole discretion determines is appropriate and which the applicable regulatory body having jurisdiction may accept, as more particularly described in the management information circular and proxy statement of the Corporation dated November 13, 2020 (the “ Information Circular ”) accompanying this notice; and

5. to transact such other business as may be properly brought before the Meeting or any adjournments thereof.

The specific details of the matters to be brought before the Meeting are set forth in the accompanying Information Circular and proxy statement.

Shareholder participation at the Meeting is important to the Corporation.

Due to the ongoing concerns related to the spread of the coronavirus (COVID-19) and in order to protect the health and safety of Shareholders, employees, other stakeholders and the community, Shareholders are strongly encouraged to listen to the Meeting via the video conference instead of attending the Meeting in person and to vote on the matters before the Meeting via proxy. There will be an opportunity for those attending via videoconference to ask questions after the formal portion of the Meeting.

Guests will not be admitted to the Meeting in person. In order to attend in person, you must be a registered Shareholder who has not already voted your proxy or a proxy-holder assigned by a registered Shareholder. We strongly encourage all Shareholders to vote in advance of the meeting via proxy to ensure their votes are counted.

The Corporation reserves the right to take any additional precautionary measures deemed to be appropriate, necessary or advisable in relation to the Meeting in response to further developments in the COVID-19 pandemic and in order to ensure compliance with federal, provincial and local laws and orders.

Shareholders are requested to complete, date and sign the enclosed form of proxy and return it to Delphi’s transfer agent, Computershare Trust Company of Canada, Proxy Dept., 100 University Avenue, 8th Floor, Toronto, Ontario, M5J 2Y1, or by facsimile at 1-866-249-7775, so that it is received at least 48 hours, excluding Saturdays, Sundays and holidays, before the Meeting or any adjournments thereof. Registered Shareholders may also use the internet site at www.investorvote.com to transmit their voting instructions or vote by phone at 1-866-732-VOTE (8683) (toll free within North America), or 1-312-588-4290 (outside North America). Non-

registered shareholders who receive these materials through their broker or other intermediary should complete and return the voting instruction form in accordance with the instructions provided by their broker or intermediary. A proxyholder need not be a shareholder of Delphi. If a Shareholder receives more than one proxy form because such Shareholder owns Class A Shares of Delphi registered in different names or addresses, each proxy form should be completed and returned.

The board of directors of Delphi have fixed the close of business on November 13, 2020 as the record date for the determination of shareholders entitled to notice of, and to attend and vote at, the Meeting and at any adjournments thereof.

Only persons registered as holders of Class A Shares on the records of the Corporation as of the close of business on November 13, 2020 are entitled to receive notice of and to attend and vote at the Meeting or any adjournment thereof. DATED at Calgary, Alberta as of November 13, 2020.

BY ORDER OF THE BOARD OF DIRECTORS

(signed) Timothy Schneider Timothy Schneider President, Chief Executive Officer and Chairman