Vermilion Energy Inc. Common (Canada)

Good afternoon, ladies and gentlemen, and thank you for standing by. Welcome to Vermilion Energy's virtual 2022 Annual General Meeting. Following the formal portion of the meeting, a presentation will be given by Dion Hatcher, Vermilion's President. As a reminder, this event is being broadcast live on the internet and is being recorded. The archive event will be posted on Vermillion's website under the heading Invest With Us and subheading Events and Presentations. To participate in the discussion or ask a question during the formal portion of the meeting or ask a question during our presentation, select the Messaging tab, type your comment, and click Send. I would now like to turn the conference call over to Lorenzo Donadale, Vermillion's Executive Chairman. Please go ahead, Mr. Donadale.

Thank you, operator. Good afternoon, ladies and gentlemen. As permitted by Vermilion's bylaw number one, our meeting will be held today as a virtual-only shareholder meeting with participation electronically, as explained in the proxy statement and information circular, which was mailed to all shareholders on April 8, 2022, By holding this virtual meeting, we are able to welcome a broader base of shareholders to participate, regardless of geographic location. I would like to begin by welcoming you to Vermilion's virtual 2022 Annual General Meeting of Shareholders. We will complete the formal part of this meeting first, and afterwards, Dion Hatcher, the president of the company, will provide you with an overview of our business and an update on our strategy moving forward. Because we are not able to be together in person, I would like to review the rules for discussion and debate to facilitate an orderly virtual meeting. The formal meeting will deal with the items of business outlined in the proxy circular. Once we have completed that work, we will move to the informal part of the meeting. During the formal meeting, each shareholder or proxy holder wishing to address a motion may do so when I have indicated the motion is open for discussion. To participate in the discussion, select the messaging tab, type your comment, and click the send button. Each shareholder may take up to five minutes to contribute to the discussion, but I reserve the right to terminate discussion on a matter. All discussion must be courteous and respectful of other participants in the meeting. All questions for management will be dealt with in the informal part of the meeting after the formal meeting is completed. Thank you in advance for your cooperation. Ladies and gentlemen, the meeting will now come to order. As Executive Chairman of the Board of Directors of Vermilion Energy Inc., it is my responsibility and privilege to chair this annual general meeting of the shareholders of Vermilion. Jamie Gagne of Lawson Lundell LLP will act as Secretary of the meeting, and Jackie Fisher of Odyssey Trust Company will act as a scrutineer. I would like to welcome to the meeting all others participating in the online meeting. At this point, I would like to introduce the other directors of Vermilion electronically attending the meeting today. Robert Michaleski, James Kleckner Jr., Karen Nickell, Stephen Lark, Timothy Marchant, William Roby, Manjit Sharma, and Judy Steele. Mr. McDonald has advised that he will not stand for reelection to Vermilion's board in 2022. Mr. McDonald dedicated over 20 years of service to Vermilion. He has been instrumental in Vermilion's long-term success with a focus on long-term value creation and a strong commitment to providing a safe work environment for all Vermilion's employees and contractors. Most recently in his role as lead director Mr. McDonald provided independent thought and best practices to ensure decisions were made in consideration of the interests of all stakeholders. On behalf of the entire management and the Board of Directors of Vermilion, we would like to thank Mr. McDonald for his significant contributions to Vermilion's success over the years, and we wish him the best in his future endeavors. As we have previously announced, I will be retiring from the board in my executive position effective September 1st, 2022. I co-founded Vermilion in 1994 and have been a dedicated member of the senior leadership and board of directors for the last 28 years. Vermilion is once again financially and operationally strong with a diversified asset base currently generating record levels of free cash flow that provides a basis for strong returns to our shareholders. I have worked closely with the new leadership team, and I have a high degree of confidence in their expertise and their alignment with Vermilion's business principles. This high-performing leadership team, together with Vermilion's 2030 strategic plan, will position the company well for continued strong long-term performance. It's been an incredible and enjoyable 28 years, which will provide me with many fond memories, but it is time for me to create some space and flexibility in my time for me and my family. I would like to thank all of the employees, the board, our advisors, and all of our shareholders for their support over the years, whom have contributed to Vermilion delivering superior rewards to all of its stakeholders. We appreciate your confidence in Vermilion and I thank you for your support. I would also like to introduce the members of the executive leadership team participating electronically in the meeting. Dion Hatcher, President. Lars Glemser, Vice President and Chief Financial Officer. Bryce Kremnicka, Vice President, North America. Darcy Kerwin, Vice President, International and Health and Safety and Environment, and Jensen Tan, Vice President, Business Development. The notice calling this meeting of shareholders a proxy for use at this meeting and the proxy statement and information circular were mailed on April 8th, 2022 to all shareholders as of the record date for this meeting being the close of business on March 22nd, 2022. As part of our ongoing stewardship of the environment and as a cost saving measure for the fourth consecutive year, beneficial shareholders received a voting instruction form and a notice and access notification, which included a link to the meeting materials consisting of the proxy statement and information circular and the 2021 annual report. The procedure for the electronic delivery of median materials is known as notice and access, and as mentioned, is an environmentally friendly alternative that is now used by a number of companies. As in past years, registered shareholders and those beneficial shareholders that have previously requested to receive paper copies continue to receive a printed copy of the median materials and a form of proxy. I would ask that copies of all such documents be filed within minutes of this meeting. A quorum for the transaction of business at today's meeting is at least two people present being registered shareholder or duly appointed proxy holder and representing in aggregate not less than 25% of the total outstanding common shares. According to Vermillion's bylaw, a person participating in today's meeting through the virtual meeting platform for today's meeting is deemed to be present at the meeting. I am advised by the scrutineer that there is a quorum present. The scrutineer's report is available for inspection and I ask the secretary to file it with the minutes of this meeting. I hereby declare this annual general meeting of shareholders of Vermilion Energy Inc. to be properly convened and regularly constituted to conduct business. There are various matters of business to be dealt with today. A description of each matter is provided in the information circular, a copy of which is available on our website under the heading Invest With Us, and subheading Annual General Meeting. In the interest of time, I do not propose to make a detailed presentation of each item. For the purposes of moving the meeting along, shareholders who are representatives of Vermillion, Lars Glemser, Bryce Kremnicka, Darcy Kerwin, and Jensen Tan, have been asked to move and second the motions to be brought before the meeting. I would like to take a moment to comment on the voting procedures to be used at today's meeting. Voting for all matters will proceed by way of electronic ballot through the virtual meeting platform. The polls are now open and will remain open until the end of the formal part of the meeting. If you have not voted your shares, please vote now. If you wish to wait until the end of the formal session, there will be additional time allotted for voting as well. If you have previously voted, you do not need to vote again. By voting again, you will revoke your votes made prior to the voting cutoff and only the live votes will be counted. The exact results of the ballot voting on the items of business at today's meeting will be announced tomorrow, Thursday, May 12th, in our press release and in the report of voting results and will be filed on cdar.com under Vermillion's profile. First item of business is fixing the number of directors of Vermilion Energy Inc. to be elected at 9. May I have a motion to fix the number of directors to be elected at 9?

My name is Lars Glemser, and I am a representative of Vermilion and a shareholder. I move that the number of directors of Vermilion Energy Inc. to be elected be fixed at 9.