Avila Energy - Proposal

Subsequent to the initial Division 1 Proposal being filed the following amendments have been made:
(i) section 2.11 of the Proposal was updated to clarify that interest would accrue in respect of the secured debt of MGI;
(ii) Canadian Natural Resources Ltd. was added into definition section and noted as having unsecured and secured claims against the Company;
(iii) added Alberta's Ministry of Minerals PTW Canada Ltd, Heavy Crude Hauling LP, Aved Capital Corp and Canadian Natural Resources Limited (but only in respect of their Secured Claim) under the definition of Unaffected Creditors;
(iv) added the Canada Revenue Agency ("CRA") unsecured claim to the list of Unaffected Creditors;
(v) Section 7.1(c) of the Proposal included a condition whereby the Cease Trade Order had to be lifted by April 11, 2025. Subsequent to the Creditors Meeting the Company advised the Proposal Trustee that it experienced issues accessing certain historical electronic accounting data and received additional questions from regulators which would result in delays in having the Cease Trade Order lifted. Accordingly, the Company did not meet this condition and requested that the Proposal be amended to extend the deadline to have the Cease Trade Order lifted from April 11, 2025 to June 30, 2025; and (vi) Section 7.1(c) has also been amended to note that by September 30, 2024, the Company's shares shall have resumed trading and that by that date the Company will have the ability to issue the New Shares.

The version of the Proposal titled "Final Proposal - Amended April 17" and included on the "Proposal" sub-page of the Proposal Trustee's website is the Final version which will be presented the Court for sanctioning on April 28, 2025.

Final Proposal - Amended April 17	April 17, 2025
Claims Bar Date Notice  Notice of Application for Court Approval of Proposal	April 11, 2025
Minutes of the Meeting of Creditors held on March 21, 2025	March 21, 2025
Voting Letter - Blank  Proxy Form - Blank  Proof of Claim - Blank  Notice of Creditor Meeting	March 7, 2025