Lawson Lundell LLP

2020 Canadian Public Energy M&A Review (FINAL)

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Lawson Lundell LLP 13 The following is a summary of some of the selected legal features of the transactions reviewed in this survey. We hope that this information is useful to readers in selecting historical transactions which provide relevant market context or legal concepts. Transactions are listed by the name of the target, using the naming convention found in the transaction list. Attributes of the Target Target was Effectively Controlled by a Private Equity Fund or Family Office Aveda BlackPearl Bow Energy Hawk InPlay Pipestone Xtreme Purchaser held more than 20% of the Target's Shares (or controlled the Target) BIOX BlackPearl Cona Enbridge Income Fund Trilogy Western Zargos Target was Effectively Controlled by a Strategic AltaGas Canada Enbridge Income Fund Trilogy Target was not Listed Bashaw Stampede Attributes of the Purchaser Purchaser was a Private Equity Fund (or funds or their affiliates) AltaGas Canada Arsenal Canamax Cona Logan Pengrowth Petrus Toro Yoho

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