Whitecap Resources (WCP) AGM 2025 summary

Opening remarks and agenda

• Meeting convened virtually, allowing shareholders to vote and submit questions via the Lumi platform.

• Chairman confirmed quorum and proper constitution of the meeting, with scrutineers and secretary appointed.

Financial performance review

• Achieved average production of 174,255 BOE/day in 2024, exceeding budget by 6%.

• Funds flow for the year was CAD 1.6 billion, with free funds flow of CAD 501 million.

• Year-end debt reduced by CAD 452 million to CAD 933 million.

• Monetized 50% interest in Musreau and Kaybob facilities for CAD 520 million.

• Repurchased 12.7 million shares for CAD 130 million.

Board and executive committee updates

• Number of directors fixed at nine; all nominees elected to the board.

• PricewaterhouseCoopers LLP appointed as auditors until the next AGM.