In the Matter of the Receivership of 2755857 Alberta Ltd. - Notice of Claims Procedure & Claims Bar Date

IN THE MATTER OF THE BANKRUPTCY
AND INSOLVENCY ACT, RSC 1985, C B-3, AS AMENDED

AND IN THE MATTER OF THE RECEIVERSHIP OF
2755857 ALBERTA LTD.

RE: Notice of Claims Procedure & Claims Bar Date

This notice is published pursuant to the Order of the Honourable Justice Feasby of the Court of King’s Bench of Alberta (“Court”), dated February 10, 2026 (the “Claims Procedure Order”), in 2755857 Alberta Ltd. (“ResidualCo”) proceedings under the Bankruptcy and Insolvency Act, RSC 1985, c B-3, as amended.

Pursuant to the Receivership Order dated June 3, 2025, Alvarez & Marsal Canada Inc. (“A&M”), was appointed as the Court-appointed receiver (the “Receiver”) of CLEO Energy Corp. (“Cleo”).  During the course of the receivership proceedings, the Receiver completed a court approved sale transaction for the shares of Cleo (including its remaining assets) (the “Transaction”). The Court granted a Reverse Vesting Order on November 14, 2025 approving the Transaction.  As a result of the Transaction, various unretained liabilities and certain other assets were assigned to ResidualCo, and ResidualCo took the place of Cleo in the receivership proceedings.

On February 10, 2026, the Court granted a claims procedure order (the “Claims Procedure Order”) to determine the validity, enforceability and priority of any claims by creditors of ResidualCo for the purpose of determining potential distributions to creditors. All capitalized terms used herein that are not otherwise defined have the meaning ascribed to them in the Claims Procedure Order.

The Claims Procedure Order, the Claims Package, a Proof of Claim form, and related materials can be accessed on the Receiver’s Website at: https://www.alvarezandmarsal.com/Cleo. Proof of Claim forms can also be obtained by contacting the Receiver at the address below and providing particulars as to your name, address, facsimile number and email address.

SUBMISSION OF PROOF OF CLAIM

Any Person who believes they have a Claim against the Company shall submit their Claim in a Proof of Claim form, in accordance with the Claims Procedure Order.

All Claimants MUST submit their Proof of Claim to the Receiver in respect of any Claims, no later than 5:00 p.m. MST on March 31, 2026 (the “Claims Bar Date”).

Proofs of Claim MUST be submitted by prepaid registered mail, courier, personal delivery, or electronic or digital transmission addressed to the following address:

To the Receiver:

ALVAREZ & MARSAL CANADA INC.
Bow Valley Square 4
Suite 1110, 250 6^th Ave SW
Calgary, AB T2P 3H7

Attention: Brinton Wolever
Email: [email protected]

With a copy to:

MILLER THOMSON LLP
Barristers and Solicitors
525-8^th Avenue SW, 43^rd Floor
Calgary, AB, Canada T2P 1G1

Attention: James W. Reid
Telephone: 403-298-2418
Email: [email protected]

CLAIMS WHICH ARE NOT RECEIVED BY THE RECEIVER BY THE APPLICABLE CLAIMS BAR DATE WILL BE FOREVER BARRED FROM MAKING OR ENFORCING ANY CLAIM AGAINST RESIDUALCO.

Additional information about these proceedings may be found on the Receiver’s Website or may be obtained by contacting the Receiver directly at the address above.

Dated at the City of Calgary, in the Province of Alberta, this 17^th of February, 2026.

Alvarez & Marsal Canada Inc.
in its capacity as Receiver of ResidualCo,
and not in its personal or corporate capacity