Cenovus Energy Inc. and Husky Energy Inc. are pleased to announce that securityholders from both companies have voted to support the proposed transaction, announced October 25, 2020, to combine the two companies into a resilient integrated energy leader.

On December 15, 2020, Cenovus and Husky held separate special shareholder meetings via live webcast. Each company’s securityholders, respectively, voted on resolutions in connection with the proposed business combination as described in the Joint Management Information Circular dated November 9, 2020.

At the Cenovus special meeting, the resolution authorizing the issuance of Cenovus common shares and warrants to Husky common shareholders under the Plan of Arrangement, as set out in the Joint Management Information Circular, was approved by 93.31% of the votes cast.

At the Husky special meeting, the resolution approving the Plan of Arrangement was approved by 99.94% of the votes cast by Husky common shareholders and 99.92% of the votes cast by Husky common shareholders and optionholders, voting together as a single class.

In addition, the resolution approving the exchange of Husky preferred shares for Cenovus preferred shares was approved by 97.85% of the votes cast by Husky preferred shareholders, voting together as a single class.
The completion of the combination remains subject to approval of the Court of Queen’s Bench of Alberta and the receipt of all necessary regulatory approvals.

About Husky

Husky (TSX:HSE) is an integrated energy company headquartered in Calgary, Alberta. It has approximately 5,200 employees and has average daily production of about 320,000 barrels of oil equivalent per day.

The Company has two main areas of focus:
- The Integrated Corridor includes natural gas, non-thermal oil, NGLs and thermal production from Western Canada, the Lloydminster upgrading and asphalt refining complex, the Husky Midstream Limited Partnership (35 percent working interest and operatorship), and the Lima and Toledo refineries in the U.S. Midwest. Gas production from the repositioned Western Canada portfolio is closely aligned with the Company’s energy requirements for refining and thermal bitumen production, and acts as a natural hedge.
- The Offshore business includes operations and exploration in the Asia Pacific region, primarily offshore China, Indonesia and Taiwan, and in the Atlantic, offshore Newfoundland and Labrador. Each area generates high-netback production, with near and long-term investment potential.

About Cenovus Energy Inc.

Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is a Canadian integrated oil and natural gas company. It is committed to maximizing value by responsibly developing its assets in a safe, innovative and efficient way. Operations include oil sands projects in northern Alberta, which use specialized methods to drill and pump the oil to the surface, and established natural gas and oil production in Alberta and British Columbia. The company also has 50% ownership in two U.S. refineries. Cenovus shares trade under the symbol CVE, and are listed on the Toronto and New York stock.