ARX:

ARC Resources Ltd. Announces Approval of Resolutions at Annual and General Meeting of Shareholders

CALGARY, May 7, 2020 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC" or the "Corporation") is pleased to announce that its shareholders approved all resolutions at its Annual and General Meeting of Shareholders (the "Meeting") held on May 7, 2020.

During the business proceedings of the Meeting, ARC's shareholders approved the following resolutions:

  1. Resolution to appoint nine board members, with 73.17 per cent to 99.69 per cent of shares represented at the meeting voting in favour of individual directors as follows:

  2. Directors

    Approval Percentage

    Withheld Percentage

    Harold N. Kvisle

    98.88

    1.12

    Farhad Ahrabi

    99.66

    0.34

    David R. Collyer

    99.69

    0.31

    John P. Dielwart

    92.82

    7.18

    Kathleen M. O'Neill

    99.11

    0.89

    Herbert C. Pinder, Jr.

    73.17

    26.83

    William G. Sembo

    99.68

    0.32

    Nancy L. Smith

    99.67

    0.33

    Terry M. Anderson

    99.12

    0.88


  3. Resolution to appoint PricewaterhouseCoopers LLP, Chartered Professional Accountants, as the Corporation's auditors with 99.86 per cent of the shares represented at the Meeting voting in favour of the resolution.

  4. Resolution to accept the Corporation's approach to executive compensation ("say on pay") as disclosed in ARC's 2020 Information Circular – Proxy Statement, with 96.87 per cent of shares represented at the Meeting voting in favour of the advisory resolution.

Effective May 7, 2020, Fred Dyment will be retiring from ARC's board of directors after 17 years of service. ARC would like to extend its gratitude to Fred for the guidance and wisdom he provided to the ARC board and management teams during this time.

ARC is one of Canada's largest conventional oil and gas companies with an enterprise value of approximately $3.1 billion. ARC's common shares trade on the TSX under the symbol ARX.

ARC RESOURCES LTD.

For further information about ARC Resources Ltd., please visit our website at www.arcresources.com
or contact:
Investor Relations
E-mail: IR@arcresources.com
Telephone: (403) 503-8600 Fax: (403) 509-6427
Toll Free: 1-888-272-4900
ARC Resources Ltd.
Suite 1200, 308 - 4 Avenue SW
Calgary, AB  T2P 0H7

SOURCE ARC Resources Ltd.