Common use of Issue of Rights: Legend on Common Share Certificates Clause in Contracts

Issue of Rights: Legend on Common Share Certificates. (a) Effective at the Record Time, one Right has been issued in respect of each Common Share then issued and outstanding and one Right shall be issued in respect of each Common Share issued after the Record Time and prior to the earlier of the Separation Time and the Expiration Time; and (b) Certificates representing Common Shares which are issued after the Record Time but prior to the earlier of the Separation Time and the Expiration Time, shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them, the following legend: Until the Separation Time (defined in the Agreement below), this Certificate also evidences the holder’s rights described in a Shareholder Rights Plan Agreement dated as of October 20, 2009, as restated, and as may from time to time be further amended, restated, varied or replaced (the “Agreement”) between Cenovus Energy Inc. and CIBC Mellon Trust Company, the terms of which are incorporated herein and a copy of which is available on demand without charge. Under certain circumstances set out in the Agreement, the rights may expire, may become null and void or may be evidenced by separate certificates and no longer evidenced by this certificate. Certificates representing Common Shares that are issued and outstanding at the Record Time, if any, shall also evidence one Right for each Common Share represented thereby, notwithstanding the absence of the foregoing legend, until the close of business on the earlier of the Separation Time and the Expiration Time.

Issue of Rights: Legend on Common Share Certificates. ‌ (a) Effective at One Right shall be issued, effective as of the Record Time, one Right has been issued in respect of each Common Share then issued and outstanding as of the Record Time and one Right shall be issued in respect of each Common Share of the Corporation issued after the Record Time and prior to the earlier of the Separation Time and the Expiration Time; and. (b) Certificates representing Common Shares which are issued after the Record Time but prior to the earlier of the Separation Time and the Expiration Time, shall also evidence evidence, in addition to Common Shares, one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them, them the following legend: Until the Separation Time (defined in the Agreement below), this Certificate certificate also evidences the holder’s rights described in a Shareholder Rights Plan Agreement dated as of October 20April 24, 20092003 (the ‘Agreement’) between TC Energy Corporation (f/k/a TransCanada Corporation) and Computershare Trust Company of Canada, as restated, and as may amended from time to time be further amended, restated, varied or replaced (the “Agreement”) between Cenovus Energy Inc. and CIBC Mellon Trust Companytime, the terms of which are incorporated herein and a copy of which is available on demand without charge. Under certain circumstances set out in the Agreement, the rights may expire, may become null and void or may be evidenced by separate certificates and no longer evidenced by this certificate. . (c) Certificates representing Common Shares that are issued and outstanding at the Record Time, if any, Time shall also evidence one Right for each Common Share represented thereby, notwithstanding the absence of the foregoing legend, until the close of business on the earlier of the Separation Time and the Expiration Time.

Issue of Rights: Legend on Common Share Certificates. (a) One Right shall be issued on the Effective at the Record Time, one Right has been issued Date in respect of each Common Share then of the Corporation issued and outstanding under the Plan of Arrangement (the time of issue of such Rights being herein called the “Record Time”) and one Right shall be issued in respect of each Common Share of the Corporation issued after the Record Time and prior to the earlier of the Separation Time and the Expiration Time; and. (b) Certificates representing Common Shares which are issued at and after the Record Time but prior to the earlier of the Separation Time and the Expiration Time, shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them, them the following legend: Until the Separation Time (defined in the Agreement below), this Certificate certificate also evidences the holder’s rights described in a Shareholder Rights Plan Agreement dated as of October 20April 24, 20092003 (the ‘Agreement’) between TransCanada Corporation and Computershare Trust Company of Canada, as restated, and as may amended from time to time be further amended, restated, varied or replaced (the “Agreement”) between Cenovus Energy Inc. and CIBC Mellon Trust Companytime, the terms of which are incorporated herein and a copy of which is available on demand without charge. Under certain circumstances set out in the Agreement, the rights may expire, may become null and void or may be evidenced by separate certificates and no longer evidenced by this certificate. Certificates representing for Common Shares of the Corporation which by the terms of the Plan of Arrangement will represent, on the Effective Date, Common Shares of the Corporation that are issued and outstanding at the Record Time, if any, shall also evidence one Right for each Common Share represented thereby, notwithstanding the absence of the foregoing legend, until the close of business on the earlier of the Separation Time and the Expiration Time.