NuVista Energy (NVA) AGM 2025 summary

Opening remarks and agenda

• Chair welcomed attendees to the 2025 Annual Meeting, held in a hybrid format to maximize shareholder participation and facilitate voting and Q&A via the Lumi platform.

• Meeting agenda included presentation of financial statements, election of directors, appointment of auditors, and an advisory vote on executive compensation.

Board and executive committee updates

• Two co-founders retired in the past year: Keith McPhail (August 2024) and Ronald Poelzer (effective at the meeting); both were recognized for their contributions.

• Mike Lawford was promoted to President and CEO in January 2025, succeeding Jonathan Wright, who remains on the board.

• Leadership transition was a key board priority, with efforts to ensure a smooth process.

• Mike Lawford joined the board as a director; Jonathan Wright continues to serve as a board member.

Financial performance review

• Achieved record-setting reserves and production in 2024, with operational and financial results highlighting asset quality and execution of capital plans.

• Met or exceeded all safety targets in 2024, achieving some of the lowest reportable incidents in company history.

• From 2020 to 2024, production doubled from 50,000 to 100,000 barrels per day, with over $500 million returned to shareholders.

• Achieved more than 20% per debt-adjusted share growth annually over five years.

• Maintained a pristine balance sheet and strong free cash flow generation.