“We believe it is important to move forward and establish the leadership team for the combined company to ensure we are well-positioned to begin capturing the synergies of this deal immediately after closing,” said Alex Pourbaix, Cenovus President and Chief Executive Officer. “Having a strong and experienced leadership team in place on day one is critical as we work to build a more integrated and resilient company that is well-positioned to succeed as a Canadian energy leader in the years ahead.”

The composition of the anticipated management team was determined through discussions with leadership teams from both companies.

Immediately following the close of the transaction, Cenovus’s executive team is expected to consist of:

• Alex Pourbaix – President & Chief Executive Officer
• Jeff Hart – Executive Vice-President & Chief Financial Officer
• Jon McKenzie – Executive Vice-President & Chief Operating Officer
• Keith Chiasson – Executive Vice-President, Downstream
• Andrew Dahlin – Executive Vice-President, Safety & Operations Technical Services
• Norrie Ramsay – Executive Vice-President, Upstream – Thermal, Major Projects & Offshore
• Kam Sandhar – Executive Vice-President, Strategy & Corporate Development
• Sarah Walters – Executive Vice-President, Corporate Services
• Drew Zieglgansberger – Executive Vice-President, Upstream – Conventional & Integration
• Rhona DelFrari – Chief Sustainability Officer & Senior Vice-President, Stakeholder Engagement
• Gary Molnar – Senior Vice-President Legal, General Counsel & Corporate Secretary

Husky and Cenovus agreed to combine their respective businesses and entered into an arrangement agreement, dated October 24, 2020. Closing of the transaction is expected to take place in the first quarter of 2021, with the combined company continuing to operate as Cenovus and remaining headquartered in Calgary, Alberta.