Officers Peyto Exploration & Development Corp.

Mr. Burdick began his oil and gas career in 1988 at the field level, in the operations service sector. He held various positions in the fields of well stimulation, geophysics, and pipeline/facility construction. This experience was garnered in the Alberta and British Columbia portions of the WCSB.In 2004 he received a B.Sc. Civil Engineering (Structural) and began his engineering career with Peyto. He spent his first year working in Peyto's field operations where he established a strong fundamental understanding of field operations and developed a solid rapport with Peyto's current field leadership group. After moving into Peyto's Calgary office in 2005, Mr. Burdick has continued to develop his experience across many facets of operations and has successfully helped build the production operations group into an effective and cohesive team.

Mr. Carlson joined Peyto in 2022 and was promoted to Vice President, Finance and Chief Financial Officer in April 2024. Mr. Carlson is a financial professional with over 20 years of finance, accounting, tax and management experience in the oil and gas industry. Prior to Peyto, he was Vice President, Finance and Chief Financial Officer at Altura Energy Inc. from 2015 to 2021. Before that, Mr. Carlson held roles of progressive responsibility in other junior and intermediate energy companies, and he began his career at PricewaterhouseCoopers LLP in 2002. Mr. Carlson has been a Chartered Accountant since 2005 and has a Bachelor of Commerce degree from the University of Alberta.

Michael Collens joined Peyto in July 2019, bringing with him over 20 years of industry experience and a strong background in Trading and Risk Management. His expertise proved especially valuable as Peyto adapted to evolving natural gas markets, including changes in NGTL policies, and limited market egress. Since his arrival, Michael has led the company’s marketing strategy with a focus on Market Diversification and Hedging. After five successful years as Manager of Natural Gas Marketing, he was promoted to VP Marketing in April 2025. Mr. Collens holds a Bachelor of Management in Finance (with Great Distinction) from the University of Lethbridge and an MBA from Western University’s Richard Ivey School of Business.

Mr. Curran joined Peyto in 2006 following various international and domestic drilling and completion assignments with Chevron Corporation and Apache Resources. Mr. Curran began his career in the field as a Drilling and Completion Supervisor following his completion of a B.Sc. degree in Mechanical engineering from the University of Calgary (1995).

Derick Czember has been involved in oil and gas land since 2002, specializing in negotiating exploration and development agreements, strategic acquisitions and divestments, land management and evaluations. Prior to joining Peyto in April 2015, Mr. Czember held various land related positions with increasing responsibility at Suncor Energy Inc., Daylight Energy Ltd. / Sinopec Daylight Energy Ltd., and most recently as Manager, Mineral Land at Peyto. Mr. Czember has a Bachelor of Commerce with a major in Petroleum Land Management from the Haskayne School of Business at the University of Calgary and is a member of the Canadian Association of Petroleum Landmen.

Mr. Frame joined Peyto in 2013 as an Exploitation Engineer and was promoted to Manager of Exploitation in 2019. In January 2022, he was appointed to Vice President, Engineering and subsequently to the role of Chief Operating Officer in January 2024. Mr. Frame started his career as a field production engineer working for Penn West Petroleum Ltd. in 2009. Since that time, Mr. Frame has worked in both a technical and management capacity, focusing on upstream oil and natural gas development. Mr. Frame has a Bachelor of Applied Science, majoring in Petroleum Engineering from Montana Tech of the University of Montana and is a licensed professional engineer with the Association of Professional Engineers and Geoscientists of Alberta (APEGA).

Mr. Chetner is a partner at the law firm of Burnet, Duckworth & Palmer LLP. Mr. Chetner started building his base of corporate securities legal experience in 1994. Mr. Chetner has been the Corporate Secretary to Peyto Exploration & Development Corp. since 2000. Mr. Chetner has an LLB from the University of Western Ontario and an LLM from the University of London (U.K.).

Ms. Rafoss joined Peyto in 2013 as Controller before being promoted to Vice President, Finance in April 2025. Ms. Rafoss has over 20 years' experience in the oil and gas industry with experience in overseeing all aspects of a company's financial operations, including accounting, budgeting, financial planning, and reporting. Prior to Peyto, she was a senior manager in the Assurance and Advisory group at Deloitte LLP. Ms. Rafoss holds a Bachelor of Commerce degree from the University of Alberta. She is a Chartered Accountant with the Chartered Professional Accountants of Alberta.

Mr. Rees joined Peyto in 2012 as a Senior Geologist and was promoted to Manager of Exploration in 2017. In 2023 he assumed the role of Manager of Geoscience and was subsequently appointed to the position of Vice President, Geoscience in April 2025. Mr. Rees has over 20 years of industry experience and held prior positions at Petro-Canada Oil & Gas and Canadian Natural Resources Ltd. He has extensive Alberta Deep Basin experience, complemented by conventional offshore eastern Canada and international development and exploration expertise. Mr. Rees holds a B.Sc. (Hons) in Earth Sciences from Memorial University of Newfoundland and a M.Sc. in Geology from the University of Calgary. He is a licensed professional geologist with the Association of Professional Engineers and Geoscientists of Alberta (APEGA).