Mr. Jonathan Wright reports

REPORT ON VOTING FROM THE 2023 ANNUAL SHAREHOLDERS MEETING

Matters were approved at the annual meeting of the shareholders of NuVista Energy Ltd. held on May 9, 2023. Each of the matters is described in greater detail in the notice of annual meeting of shareholders and information circular dated March 28, 2023.

1. Fixing the number of directors

By resolution passed by ballot, the number of directors to be elected at the meeting was fixed at nine members. The results of the ballot are set out herein.

     VOTING RESULTS FOR NUMBER OF DIRECTORS

Votes for    Per cent   Votes against   Per cent 

148,135,055     99.81%        274,765       0.19%  

2. Election of directors

By resolution passed by ballot, nine nominees were appointed as directors of NuVista to serve until the next annual meeting of shareholders of NuVista, or until their successors are elected or appointed. The results of the ballot are set out herein.

                 VOTING RESULTS FOR ELECTION OF DIRECTORS

Name of nominee             Votes for   Per cent    Votes withheld   Per cent
                                                                       
Pentti O. Karkkainen      108,704,746      73.25%       39,705,074      26.75% 
Ronald J. Eckhardt        109,676,538      73.90%       38,733,282      26.10% 
K.L. (Kate) Holzhauser    110,173,684      74.24%       38,236,136      25.76% 
Mary Ellen Lutey          110,337,727      74.35%       38,072,093      25.65% 
Keith A. MacPhail         104,908,170      70.69%       43,501,650      29.31% 
Ronald J. Poelzer         102,893,034      69.33%       45,516,786      30.67% 
Deborah S. Stein          104,267,749      70.26%       44,142,071      29.74% 
Jonathan A. Wright        109,838,872      74.01%       38,570,948      25.99% 
Grant A. Zawalsky         106,271,044      71.61%       42,138,776      28.39% 

3. Appointment of auditor

By resolution passed by ballot, KPMG LLP, chartered professional accountants, was appointed as auditor of NuVista to hold office until close of the next annual meeting or until its successors are duly appointed, and the directors were authorized to fix its remuneration. The results of the ballot are set out herein.

           VOTING RESULTS FOR AUDITOR

Votes for   Per cent   Votes withheld   Per cent 
 
144,337,075    96.82%       4,741,273       3.18%  

4. Non-binding advisory resolution on executive compensation

By advisory resolution passed by ballot, NuVista's approach to executive compensation was approved. The results of the ballot are set out herein.

   VOTING RESULTS FOR EXECUTIVE COMPENSATION

Votes for    Per cent   Votes against   Per cent

108,539,418     73.13%     39,870,402      26.87% 

About NuVista Energy Ltd.

NuVista is an independent Canadian oil and natural gas exploration, development and production corporation with its common shares trading on the Toronto Stock Exchange under the symbol NVA.

NuVista is an oil and natural gas company actively engaged in the exploration for, and the development and production of, oil and natural gas reserves in the Western Canadian sedimentary basin. Its primary focus is on the scalable and repeatable condensate-rich Montney formation in the Wapiti and Pipestone area of the Alberta Deep basin.