<SEC-DOCUMENT>0001104659-25-085643.txt : 20250829
<SEC-HEADER>0001104659-25-085643.hdr.sgml : 20250829
<ACCEPTANCE-DATETIME>20250829160406
ACCESSION NUMBER:		0001104659-25-085643
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250829
FILED AS OF DATE:		20250829
DATE AS OF CHANGE:		20250829

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CANADIAN NATURAL RESOURCES LTD
		CENTRAL INDEX KEY:			0001017413
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		STATE OF INCORPORATION:			A0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-12138
		FILM NUMBER:		251280760

	BUSINESS ADDRESS:	
		STREET 1:		2100, 855-2 STREET SW
		CITY:			CALGARY ALBERTA CANADA
		STATE:			A0
		ZIP:			T2P 4J8
		BUSINESS PHONE:		403-517-6700

	MAIL ADDRESS:	
		STREET 1:		2100, 855-2 STREET SW
		CITY:			CALGARY ALBERTA CANADA
		STATE:			A0
		ZIP:			T2P 4J8
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2521658d5_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Rule&nbsp;13a-16 or 15d-16 of the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Dated: August 29, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number: 333-12138</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CANADIAN NATURAL RESOURCES LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Suite&nbsp;2100, 855 &ndash; 2nd Street S. W.,
Calgary, Alberta T2P 4J8</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark whether the registrant files
or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form&nbsp;20-F <FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Form&nbsp;40-F&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="font-size: 10pt; width: 12%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Exhibit&nbsp;<BR>
Number</U></FONT></TD>
    <TD STYLE="text-align: left; font-size: 10pt; vertical-align: bottom; width: 88%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Description</U></FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><A HREF="tm2521658d5_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><A HREF="tm2521658d5_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dealer agreement by and among Canadian Natural Resources Limited and the Dealers named therein</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom"><B>Canadian Natural Resources Limited</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">(Registrant)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 47%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: August 29, 2025</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Stephanie A. Graham</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stephanie A. Graham</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Corporate Secretary&nbsp;&amp; Associate General Counsel (Canada)</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2521658d5_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="margin: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt">August&nbsp;28, 2025</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian Natural
Resources Limited</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">2100, 855 &ndash;
2<SUP>nd</SUP> Street S.W.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Calgary, AB T2P
4J8</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"><FONT STYLE="font-size: 10pt"><B>Attention:</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Victor
                                            C. Darel</B></FONT></TD></TR><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Chief
                                            Financial Officer</B></FONT></TD></TR>
                                                                                                             </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Dear Sir:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We
understand that Canadian Natural Resources Limited (&ldquo;<B>Canadian Natural</B>&rdquo;) proposes to issue and sell from time to time
in all of the provinces of Canada (the &ldquo;<B>Selling Provinces</B>&rdquo;) and in such other jurisdictions as Canadian Natural may
determine from time to time, including in the United States as contemplated by Schedule&nbsp;E (collectively with the Selling Provinces,
the &ldquo;<B>Jurisdictions</B>&rdquo;), unsecured medium term notes (the &ldquo;<B>Medium Term Notes</B>&rdquo;), as described in the
English and French language versions of Canadian Natural&rsquo;s short form base shelf prospectus dated August&nbsp;28, 2025, as amended
or supplemented from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Subject
to the terms and conditions contained herein, including the attached schedules, Canadian Natural hereby appoints, severally, ATB Securities
Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Desjardins Securities Inc., Merrill Lynch Canada Inc., Mizuho Securities Canada
Inc., MUFG Securities (Canada),&nbsp;Ltd., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., SMBC Nikko
Securities Canada,&nbsp;Ltd., and TD Securities Inc. and such other investment dealer or dealers as Canadian Natural may from time to
time appoint as hereinafter provided (collectively, the &ldquo;<B>Dealers</B>&rdquo; and individually, a &ldquo;<B>Dealer</B>&rdquo;)
as its exclusive agents (subject to Canadian Natural&rsquo;s rights to sell Medium Term Notes and to appoint additional agents as provided
hereunder) to solicit, from time to time, offers to purchase Medium Term Notes, such solicitations to be made directly or through other
investment dealers approved in writing by Canadian Natural (together with the Dealers, referred to herein as the &ldquo;<B>Selling Firms</B>&rdquo;)
and in the Jurisdictions only, and the Dealers hereby severally accept the appointment. Canadian Natural may appoint additional agents
hereunder by delivering to the then existing Dealers a copy of this Agreement or an addendum hereto signed by each such additional agent,
whereupon each such additional agent shall become one of the Dealers hereunder unless one or more of the existing Dealers is reasonably
of the view that the new agent would not be able to fulfill its responsibilities under this Agreement and so notifies Canadian Natural
within ten days of receipt of the foregoing copy of this Agreement. The agency sales will be subject to acceptance by Canadian Natural
of all offers to purchase Medium Term Notes and to the requirements of any applicable Securities Laws (as defined below) or any other
applicable laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">A
Dealer, either alone or severally, and not jointly, with one or more of the other Dealers, may from time to time purchase, as principal
for resale to the public at prices to be negotiated with each purchaser, in the Jurisdictions only, Medium Term Notes from Canadian Natural
at prices and commissions, if any, as may from time to time be agreed upon between Canadian Natural and the Dealer or Dealers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Canadian
Natural and the Dealers shall follow the Operating Procedures (as defined below) with respect to the sale of the Medium Term Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Canadian
Natural may also, from time to time, offer the Medium Term Notes directly to the public at prices and upon terms agreed to by Canadian
Natural and the purchaser of the Medium Term Notes (or any agent or investment dealer acting on behalf of the purchaser), provided that
Canadian Natural may not so offer the Medium Term Notes: (a)&nbsp;on a date Canadian Natural requests the Dealers to solicit offers to
purchase Medium Term Notes; or (b)&nbsp;during any period commencing on the date on which a Dealer, either alone or together with one
or more of the other Dealers, has agreed to purchase Medium Term Notes as principal for resale, and ending, unless otherwise agreed with
the Dealer or Dealers, on the date on which all agreements relating to sales of such Medium Term Notes by or through the Dealers are
binding on the public purchasers of Medium Term Notes. No commission shall be payable to the Dealers for sales made directly by Canadian
Natural.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">For
each Medium Term Note sold under this Agreement by one or more of the Dealers acting as agent or agents of Canadian Natural, Canadian
Natural shall pay, to the Dealer or Dealers making such sale, a commission as determined in accordance with Part&nbsp;I of Schedule&nbsp;A
hereto, unless otherwise agreed by such Dealer or Dealers and Canadian Natural. For each Medium Term Note sold to one or more of the
Dealers as principal, Canadian Natural shall pay, to the Dealer or Dealers purchasing such Medium Term Note, a commission as determined
in accordance with Part&nbsp;II of Schedule&nbsp;A hereto, unless otherwise agreed by such Dealer or Dealers and Canadian Natural. The
commission in respect of any particular Medium Term Note shall be payable in the same currency as the principal of the Medium Term Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>1.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>DEFINITIONS</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Agreement</B>&rdquo;
                                            means this agreement as amended from time to time;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Annual
                                            Information Form</B>&rdquo; means, at any time, the annual information form of Canadian Natural
                                            incorporated or deemed to be incorporated by reference in the Prospectus;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Anti-Money
                                            Laundering Laws</B>&rdquo; has the meaning given to such term in Section&nbsp;7(b)(xxviii);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Canadian
                                            Natural</B>&rdquo; has the meaning given to such term in the first paragraph of this Agreement;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(e)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Canadian
                                            Natural&rsquo;s Counsel</B>&rdquo; means Bennett Jones LLP or such other legal counsel acceptable
                                            to Canadian Natural;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(f)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Canadian
                                            Natural Upgrading Limited</B>&rdquo; means Canadian Natural Upgrading Limited, a corporation
                                            existing pursuant to the laws of the province of Alberta;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(g)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>CFPOA</B>&rdquo;
                                            has the meaning given to such term in Section&nbsp;7(b)(xxvi);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(h)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Consolidated
                                            Net Tangible Assets</B>&rdquo; means the total amount of assets of any person on a consolidated
                                            basis (less applicable reserves and other properly deductible items) after deducting therefrom:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">all
                                            current liabilities (excluding any indebtedness classified as a current liability and any
                                            current liabilities, in each case which are by their terms extendible or renewable at the
                                            option of the obligor thereon, in each case to a time more than 12 months after the time
                                            as of which the amount thereof is being computed);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">all
                                            goodwill, trade names, trademarks, patents and other like intangibles; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">non-controlling
                                            interests in subsidiaries as defined under GAAP;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">in each
case, as shown on the most recent annual audited or quarterly unaudited consolidated balance sheet of such person computed in accordance
with GAAP;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>DBRS</B>&rdquo;
                                            means Morningstar DBRS, a division of DBRS Limited, and any successors thereto;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(j)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Dealers</B>&rdquo;
                                            has the meaning given to such term in the second paragraph of this Agreement, and &ldquo;<B>Dealer</B>&rdquo;
                                            means any one of the Dealers;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(k)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Dealers&rsquo;
                                            Counsel</B>&rdquo; means Norton Rose Fulbright Canada LLP or such other legal counsel acceptable
                                            to the Dealers and Canadian Natural;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(l)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Distribution</B>&rdquo;
                                            and &ldquo;<B>Distribution to the Public</B>&rdquo; have the meanings attributed thereto
                                            under applicable Securities Laws, and &ldquo;<B>Distribute</B>&rdquo; means to effect a Distribution;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(m)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Engineering
                                            Reports</B>&rdquo; means, collectively, the independent petroleum engineering evaluations
                                            of Canadian Natural&rsquo;s oil and natural gas interests with an effective date of December&nbsp;31,
                                            2024, by each of Sproule and GLJ (as the same may be updated or superseded from time to time)
                                            and includes any other engineering evaluations or reports prepared by any other Independent
                                            Engineering Consultant and referred to in the Prospectus or the documents or information
                                            incorporated or deemed to be incorporated by reference in the Prospectus;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(n)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Exchange</B>&rdquo;
                                            means the Toronto Stock Exchange;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(o)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>FCPA</B>&rdquo;
                                            has the meaning given to such term in Section&nbsp;7(b)(xxvi);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(p)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Financial
                                            Statements</B>&rdquo; means, collectively, at any time, the audited annual comparative consolidated
                                            financial statements of Canadian Natural, together with the notes thereto and the auditors&rsquo;
                                            report thereon, and the unaudited interim comparative consolidated financial statements of
                                            Canadian Natural together with the notes thereto incorporated or deemed to be incorporated
                                            by reference in the Prospectus;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(q)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; background-color: white">&ldquo;</FONT><FONT STYLE="font-size: 10pt"><B>Fitch</B><FONT STYLE="background-color: white">&rdquo;
                                            </FONT>means Fitch Ratings Inc.;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(r)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; background-color: white">&ldquo;<B>GAAP</B>&rdquo;
                                            means generally accepted accounting principles which are in effect from time to time in Canada;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(s)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; background-color: white">&ldquo;<B>Governmental
                                            Authority</B>&rdquo; means any government, regulatory authority, governmental department,
                                            agency, commission, bureau, official, minister, Crown corporation, court, body, board, tribunal
                                            or dispute settlement panel or other law-making organization or entity: (i)&nbsp;having or
                                            purporting to have jurisdiction on behalf of any nation, province, territory or state or
                                            any other geographic or political subdivision of any of them; or (ii)&nbsp;exercising, or
                                            entitled or purporting to exercise, any administrative, executive, judicial, legislative,
                                            policy, regulatory or taxing authority or power;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(t)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>GLJ</B>&rdquo;
                                            means GLJ Ltd., independent petroleum consultants;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(u)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Independent
                                            Engineering Consultant</B>&rdquo; means any petroleum engineering consultant which produces
                                            delivers a Report on Reserves Data to Canadian Natural pursuant to NI 51-101;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(v)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Jurisdictions</B>&rdquo;
                                            has the meaning given to such term in the first paragraph of this Agreement;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(w)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>limited-use
                                            version</B>&rdquo; has the meaning ascribed thereto under NI 41-101;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(x)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Marketing
                                            Documents</B>&rdquo; means collectively all: (i)&nbsp;Standard Term Sheets; and (ii)&nbsp;Marketing
                                            Materials in either or both the English and French languages (including any Template Version,
                                            revised Template Version or limited-use version thereof), and in either case provided to
                                            a potential investor in connection with a Distribution of Medium Term Notes;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(y)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Marketing
                                            Materials</B>&rdquo; has the meaning ascribed to the term &ldquo;marketing materials&rdquo;
                                            set forth in NI 41-101;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(z)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>material</B>&rdquo;
                                            or &ldquo;<B>materially</B>&rdquo;, when used in relation to Canadian Natural, means material
                                            in relation to Canadian Natural and its Subsidiaries, taken as a whole;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(aa)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>material
                                            change</B>&rdquo;, &ldquo;<B>material fact</B>&rdquo; and &ldquo;<B>misrepresentation</B>&rdquo;
                                            have the meanings attributed thereto under applicable Securities Laws;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(bb)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Material
                                            Subsidiaries</B>&rdquo; means a Subsidiary whereby the total assets of such Subsidiary (excluding
                                            inter-corporate amounts) exceed 10% of Consolidated Net Tangible Assets;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(cc)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Medium
                                            Term Notes</B>&rdquo; has the meaning given to such term in the first paragraph of this Agreement;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(dd)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Moody&rsquo;s</B>&rdquo;
                                            means Moody&rsquo;s Investors Service,&nbsp;Inc., and any successor thereto;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ee)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>NI
                                            41-101</B>&rdquo; means National Instrument 41-101 &ndash; <I>General Prospectus Requirements</I>
                                            adopted by the Securities Commissions, as amended or replaced from time to time;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ff)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>NI
                                            44-102</B>&rdquo; mean National Instrument 44-102 &ndash; <I>Shelf Distributions</I> adopted
                                            by the Securities Commissions, as amended or replaced from time to time;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(gg)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>NI
                                            51-101</B>&rdquo; means National Instrument 51-101 &ndash; <I>Standards of Disclosure for
                                            Oil and Gas Activities</I>, as amended or replaced from time to time;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(hh)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>No
                                            Trade Period</B>&rdquo; has the meaning attributed thereto in Section&nbsp;5;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>OFAC</B>&rdquo;
                                            has the meaning given to such term in Section&nbsp;7(b)(xxvii);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(jj)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Operating
                                            Procedures</B>&rdquo; means the procedures for the sale of Medium Term Notes on an agency
                                            basis as described in Schedule B hereto;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(kk)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Person</B>&rdquo;
                                            includes any individual, partnership, limited partnership, limited liability company, joint
                                            venture, syndicate, sole proprietorship, company or corporation with or without share capital,
                                            unincorporated association, trust, trustee, executor, administrator or other legal representative,
                                            or Governmental Authority, however designated or constituted;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ll)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Policy</B>&rdquo;
                                            means, collectively, NI 44-102, Companion Policy 44-102CP of the Canadian Securities Administrators
                                            as it may be amended or replaced from time to time;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(mm)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Pricing
                                            Supplement</B>&rdquo; means a pricing supplement in either or both the English and French
                                            languages incorporated by reference into the Prospectus for purposes of a Distribution of
                                            the Medium Term Notes, as contemplated by the Policy;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(nn)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Principal
                                            Indenture</B>&rdquo; means the trust indenture dated as of August&nbsp;1, 2003, as the same
                                            has been and may be amended or supplemented from time to time, including as amended by a
                                            supplemental indenture dated October&nbsp;28, 2011 between Canadian Natural and Computershare
                                            Trust Company of Canada, as trustee, providing for the issue of Debt Securities (as defined
                                            in the Principal Indenture) of Canadian Natural;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(oo)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Prospectus</B>&rdquo;
                                            means the short form base shelf prospectus of Canadian Natural dated August&nbsp;28, 2025
                                            relating to the Distribution of the Medium Term Notes, in both the English and French languages,
                                            including the documents or information incorporated or deemed to be incorporated therein
                                            by reference, as supplemented or amended from time to time;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(pp)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Prospectus
                                            Amendment</B>&rdquo; means an amendment to the Prospectus, in both the English and French
                                            languages unless the context indicates otherwise and includes an amendment by way of a material
                                            change report as contemplated by the Policy;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(qq)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Prospectus
                                            Supplement</B>&rdquo; means a shelf prospectus supplement, in either or both the English
                                            and French languages, incorporated or deemed to be incorporated by reference in the Prospectus
                                            for purposes of a Distribution of the Medium Term Notes, as contemplated by the Policy, which
                                            term shall, as applicable, include a Pricing Supplement and which shall include any Marketing
                                            Materials included or incorporated or deemed to have been incorporated by reference into
                                            such Prospectus Supplement;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(rr)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Provide</B>&rdquo;
                                            in the context of sending or making available Marketing Materials to a potential investor
                                            of Medium Term Notes has the meaning ascribed to the term &ldquo;provide&rdquo; under Securities
                                            Laws, whether in the context of a &ldquo;road show&rdquo; (as defined in NI 41-101) or otherwise;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ss)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Public
                                            Record</B>&rdquo; means all information filed by Canadian Natural with any Securities Commission
                                            on or after January&nbsp;1, 2024, including, without limitation, the Prospectus and any other
                                            information filed with any Securities Commission in compliance with, or intended compliance
                                            with, any applicable Securities Laws;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(tt)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Rating
                                            Agency</B>&rdquo; means each of DBRS, Moody's and Fitch and, if a rating is solicited by
                                            Canadian Natural in respect of the Medium Term Notes from an additional &quot;designated
                                            rating organization&quot; (as defined in NI 44-101) other than DBRS, Moody's and Fitch, also
                                            such additional designated rating organization;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(uu)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Securities
                                            Commissions</B>&rdquo; means the securities commission or the securities regulatory authority
                                            in each of the Jurisdictions;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(vv)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Securities
                                            Laws</B>&rdquo; means the securities acts or similar statutes of each of the Jurisdictions
                                            and all published instruments, rules, regulations, policy statements, notices, blanket orders
                                            and rulings of the Securities Commissions thereunder, and exemptive orders applicable to
                                            Canadian Natural;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ww)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>SEDAR+</B>&rdquo;
                                            means the System for Electronic Data Analysis and Retrieval +;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xx)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Selling
                                            Firms</B>&rdquo; has the meaning given to such term in the second paragraph of this Agreement;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(yy)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Selling
                                            Provinces</B>&rdquo; has the meaning given to such term in the first paragraph of this Agreement;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(zz)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Shelf
                                            Procedures</B>&rdquo; means the rules&nbsp;and procedures established pursuant to (i)&nbsp;the
                                            Policy and (ii)&nbsp;and Alberta Securities Commission Blanket Order 44-501 &ndash; <I>Exemptions
                                            for Well-Known Seasoned Issuers</I>, as varied or amended from time to time, and equivalent
                                            blanket orders issued by the other Securities Commissions, as the same may be varied or amended
                                            from time to time;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(aaa)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Sproule</B>&rdquo;
                                            means Sproule International Limited, independent petroleum engineering consultants;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(bbb)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Standard
                                            Term Sheet</B>&rdquo; has the meaning ascribed to the term &ldquo;standard term sheet&rdquo;
                                            under NI 41-101;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ccc)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Subsidiary</B>&rdquo;
                                            means:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">a
                                            person of which another person alone or in conjunction with its other Subsidiaries owns an
                                            aggregate number of Voting Shares sufficient to enable the election of a majority of the
                                            directors (or other persons performing similar functions) regardless of the manner in which
                                            other Voting Shares are voted; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">a
                                            person of which another person alone or in conjunction with its other Subsidiaries has, through
                                            the operation of any agreement or otherwise, the ability to elect or cause the election of
                                            a majority of the directors (or other persons performing similar functions) or otherwise
                                            exercise control over the management and policies of such person;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">and shall
include any person in like relation to a Subsidiary and, in relation to Canadian Natural, includes, for greater certainty, each Material
Subsidiary and, references herein to Subsidiary, unless otherwise specifically indicated herein, shall be references to a Subsidiary
of Canadian Natural;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ddd)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Supplemental
                                            Indenture</B>&rdquo; means a supplemental trust indenture to the Principal Indenture providing
                                            for the issue of series of Medium Term Notes;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(eee)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Template
                                            Version</B>&rdquo; has the meaning ascribed to the term &ldquo;template version&rdquo; under
                                            NI 41-101 and includes any revised template version of Marketing Materials as contemplated
                                            by NI 41-101;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(fff)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>to
                                            the knowledge of Canadian Natural</B>&rdquo; means information to the actual knowledge of
                                            Victor Darel, Chief Financial Officer of Canadian Natural and Brenda Balog, Vice-President,
                                            Legal and General Counsel of Canadian Natural, after due and reasonable inquiry where required,
                                            and does not include the knowledge or awareness of any other individual or any other constructive,
                                            implied or imputed knowledge;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ggg)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Underwriting
                                            Addendum</B>&rdquo; means an addendum to this Agreement substantially in the form of Schedule
                                            C hereto, evidencing the agreement between Canadian Natural and a Dealer or Dealers relating
                                            to a particular purchase of Medium Term Notes by such Dealer or Dealers as principal;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(hhh)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>United
                                            States</B>&rdquo; or &ldquo;<B>U.S.</B>&rdquo; means the United States of America, its territories
                                            and possessions, any state of the United States and the District of Columbia;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>U.S.
                                            Securities Laws</B>&rdquo; means all of the applicable federal securities laws and regulations
                                            of the United States, including, without limitation, the United States <I>Securities Act
                                            of 1933</I>, as amended and United States <I>Securities Exchange Act of 1934</I>, as amended;
                                            and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(jjj)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Voting
                                            Shares</B>&rdquo; means shares of capital stock of any class of a corporation and other interests
                                            of any other persons having under all circumstances the right to vote for the election of
                                            the directors of such corporation or other person or in the case of any person which is not
                                            a corporation, persons having similar powers or (if there are no such persons) income or
                                            capital interests (however called), provided that, for the purpose of this definition, shares
                                            which only carry the right to vote conditionally on the happening of an event shall not be
                                            considered Voting Shares whether or not such event shall have happened.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 1in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SCHEDULES</B></FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule
    A</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Commission
    Rates</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule
    B</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
    Procedures</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule
    C</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting
    Addendum</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule
    D</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due
    Diligence Review Process for the Medium Term Note Program</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule
    E</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S.
    Selling Restrictions</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Capitalized
terms in each Schedule not otherwise defined have the meaning of such term in the Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>2.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>TERMS
                                            OF MEDIUM TERM NOTES</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">The Medium
Term Notes will be issued pursuant to the Principal Indenture and shall, in all material respects, have the attributes and characteristics
described in the Prospectus. All terms and conditions of each Medium Term Note issued by Canadian Natural from time to time will be determined
by Canadian Natural in its sole discretion. These terms and conditions shall include, without limiting the generality of the foregoing,
the maturities of the Medium Term Notes, the interest rate and interest payment dates for the Medium Term Notes and the issue price of
the Medium Term Notes (at par, at a premium or at a discount).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>3.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>FILING
                                            OF PROSPECTUS DOCUMENTS AND MARKETING MATERIALS</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural will as soon as possible fulfill and will continue to fulfill during the term of
                                            this Agreement, all legal requirements to be fulfilled by Canadian Natural (including, without
                                            limitation, from time to time, any filings, proceedings and legal requirements set forth
                                            in the Shelf Procedures) to enable the Medium Term Notes to be continuously offered for sale
                                            and sold to the public in each of the Selling Provinces under the Shelf Procedures in compliance
                                            with applicable Securities Laws by or through investment dealers and brokers who comply with
                                            applicable Securities Laws.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Without
                                            limiting the generality of subsection&nbsp;3(a), Canadian Natural shall prepare and approve
                                            in writing any Marketing Materials proposed to be Provided by the Dealers to any potential
                                            investor of Medium Term Notes, such Marketing Materials to comply with applicable Securities
                                            Laws and to be acceptable in form and substance to the Dealers and Dealers&rsquo; Counsel,
                                            acting reasonably, and approved in writing on behalf of the Dealers as contemplated by applicable
                                            Securities Laws, and, if required under applicable Securities Laws, Canadian Natural shall
                                            file a Template Version and any revised Template Version of such Marketing Materials, as
                                            applicable, on SEDAR+ on or before the day that the Marketing Materials are first Provided
                                            to any potential investor. Any comparables (as defined in NI 41-101) shall be removed from
                                            the Template Version or any revised Template Version in accordance with NI 44-102 prior to
                                            filing such on SEDAR+. Canadian Natural covenants and agrees with the Dealers not to provide
                                            any Marketing Materials directly to any potential investor of Medium Term Notes.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">To
                                            the extent that in so fulfilling such legal requirements as referred to in subsection&nbsp;3(a)&nbsp;and
                                            3(b), the filings or proceedings referred to in subsection&nbsp;3(a)&nbsp;and 3(b)&nbsp;result
                                            in the Dealers assuming additional liability, Canadian Natural shall consult with the Dealers
                                            as to such filings and proceedings it proposes to effect, provided that there shall be no
                                            obligation of Canadian Natural to consult with the Dealers in respect of documents filed
                                            as part of its continuous disclosure obligations.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>4.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>DISTRIBUTION
                                            OF THE MEDIUM TERM NOTES</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">The Dealers
shall, on such dates as Canadian Natural has notified the Dealers in accordance with the Operating Procedures that it requires funds,
use their best efforts to solicit offers to purchase the Medium Term Notes from, and sell the Medium Term Notes to, members of the public
in the Selling Provinces, directly and through other Selling Firms, only as permitted by and in compliance with applicable Securities
Laws, upon the terms and conditions set forth in the Prospectus and in this Agreement. If one or more of the Dealers agrees to purchase
the Medium Term Notes in accordance with the Operating Procedures, they may sell Medium Term Notes to members of the public in the Selling
Provinces, directly and through other Selling Firms. The Dealers may solicit offers to purchase or sell Medium Term Notes in the United
States subject to the provisions of subsection&nbsp;7(c)&nbsp;and Schedule&nbsp;E. Subject to obtaining the prior agreement of Canadian
Natural, the Dealers may solicit offers to purchase or sell Medium Term Notes outside of the Selling Provinces and the United States
in accordance with applicable law (including, if applicable, U.S. Securities Laws and state securities laws) but will not solicit offers
to purchase or sell Medium Term Notes so as to require registration of Medium Term Notes (or the offering thereof) or the filing of a
prospectus with respect to the distribution of Medium Term Notes under the laws of such jurisdictions, and will require each Selling
Firm to agree with the Dealers not to so solicit or sell. For purposes of this Section&nbsp;4, the Dealers shall be entitled to assume
that the Medium Term Notes are qualified for Distribution in all of the Selling Provinces, and in the United States subject to the provisions
of subsection&nbsp;7(c)&nbsp;and Schedule&nbsp;E. Canadian Natural has delivered or shall deliver, to the Dealers copies of all receipts
received from the Securities Commissions, if any, received from time to time for the Prospectus or any Prospectus Supplement or Prospectus
Amendment as soon as they are available. The Dealers shall, as soon as practicable after the Dealers have distributed Medium Term Notes,
and in any event within five days of a reasonable request from Canadian Natural, provide Canadian Natural with a comprehensive breakdown
of the Medium Term Notes distributed by the Dealers collectively, both through agency sales and principal sales (separately enumerated),
in each of the Jurisdictions where a breakdown is required for the purpose of calculating fees payable by Canadian Natural to the Securities
Commissions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>5.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>NO
                                            TRADE PERIOD</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">During
the period of a Distribution or Distribution to the public of the Medium Term Notes under the Prospectus, Canadian Natural shall not,
during the time period (the &ldquo;<B>No Trade Period</B>&rdquo;) in which Canadian Natural believes, in its reasonable judgment, that
any change or fact described below (which has not been announced or is the subject of the filing of a confidential material change report)
is sufficiently imminent and probable that a reasonably prudent reporting issuer would not Distribute its own securities, continue the
Distribution or Distribution to the public of the Medium Term Notes until such No Trade Period ends either through a change in circumstances
or a public announcement of such change or fact being made or otherwise:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">any
                                            change (actual, anticipated, contemplated or threatened), to the knowledge of Canadian Natural,
                                            in the business, affairs, operations, assets, liabilities (contingent or otherwise), capital
                                            or ownership of Canadian Natural and its Subsidiaries, taken as a whole; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">any
                                            change in any matter covered by a statement contained or incorporated by reference in the
                                            Prospectus or any Marketing Documents as amended or supplemented immediately prior to such
                                            change; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">any
                                            fact which has arisen or which has been discovered which would have been required to have
                                            been stated in the Prospectus or any Marketing Documents had the fact arisen or been discovered
                                            on or prior to the date of a Prospectus Supplement or Pricing Supplement or any Marketing
                                            Documents,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">which
change or fact in any case is, or may be, of such a nature as (i)&nbsp;to render the Prospectus or any Marketing Documents, immediately
prior to such change or fact, misleading or untrue in any material respect, or (ii)&nbsp;would result in the Prospectus or any Marketing
Documents, immediately prior to such change or fact, containing a misrepresentation, or (iii)&nbsp;would result in the Prospectus or
any Marketing Documents, immediately prior to such change or fact, not complying with the laws of any Jurisdiction, or (iv)&nbsp;would
reasonably be expected to have a significant effect on the market price or value of the Medium Term Notes. Canadian Natural shall promptly
comply with all applicable filing and other requirements under Securities Laws in the Selling Provinces arising as a result of such change
or fact. In addition, if during the period of the Distribution or Distribution to the public of the Medium Term Notes under the Prospectus,
there is any change in any applicable Securities Laws which results in a requirement to file a Prospectus Amendment, Canadian Natural
shall make such filing as soon as possible. Canadian Natural shall notify the Dealers in writing, with the full particulars, of such
a change and shall also discuss with the Dealers any change or fact in respect of which there may be doubt respecting the applicability
of this Section&nbsp;5.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>6.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>DELIVERY
                                            OF DOCUMENTS</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural shall cause to be delivered to the Dealers:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">on
                                            the date of this Agreement, the Prospectus in the English and French languages as filed with
                                            the Securities Commissions signed as required by applicable Securities Laws and acceptable
                                            in form and substance to the Dealers and the Dealers&rsquo; Counsel, acting reasonably;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">on
                                            the date of this Agreement, all documents, in the English and French languages, incorporated
                                            or containing information incorporated by reference into the Prospectus and not previously
                                            delivered to the Dealers, provided that if such continuous disclosure documents are, or information
                                            is, available to the public on the SEDAR+ website, such documents or information shall be
                                            deemed to have been delivered in satisfaction of this requirement;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">on
                                            the date of any Pricing Supplement, ratings confirmations (verbally or in writing) from each
                                            Rating Agency that has issued ratings on the Medium Term Notes (excluding any unsolicited
                                            ratings);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">as
                                            soon as they are available, copies of such continuous disclosure documents or information
                                            as may have been or as may be incorporated or deemed to be incorporated by reference, at
                                            the appropriate time or times, under the heading &ldquo;Documents Incorporated by Reference&rdquo;
                                            in the Prospectus and not previously delivered to the Dealers, provided that if such continuous
                                            disclosure documents are, or information is, available to the public on the SEDAR+ website,
                                            such documents or information shall be deemed to have been delivered in satisfaction of this
                                            requirement;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(v)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">as
                                            soon as they are available, copies of any Prospectus Amendment, any Prospectus Supplement
                                            and any Pricing Supplement as contemplated by the Policy, signed as required by applicable
                                            Securities Laws and acceptable in form and substance to the Dealers and the Dealers&rsquo;
                                            Counsel, including copies of any documents or information incorporated or deemed to be incorporated
                                            by reference therein and not previously delivered hereunder and, where applicable, receipts
                                            from the applicable Securities Commissions in respect of the filing thereof and further provided
                                            that each Pricing Supplement need be delivered only to the Dealer or Dealers involved in
                                            the particular Distribution of Notes to which the Pricing Supplement relates;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(vi)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">at
                                            the time the French language version of the Prospectus, or any Prospectus Amendment or any
                                            Prospectus Supplement (other than a Pricing Supplement) is delivered (or as soon as practicable
                                            thereafter) to the Dealers pursuant to this Section&nbsp;6 or at the time the French language
                                            version of a form of Pricing Supplement or any Marketing Documents are first delivered (or
                                            as soon as practicable thereafter) to the Dealers pursuant to this Section&nbsp;6, an opinion
                                            of Canadian Natural&rsquo;s Qu&eacute;bec counsel or a translation services firm, acceptable
                                            to the Dealers and Dealers&rsquo; Counsel, acting reasonably, dated the date of such Prospectus,
                                            Prospectus Amendment, Prospectus Supplement or Pricing Supplement or any Marketing Documents,
                                            as the case may be, to the effect that, except for selected financial information, management&rsquo;s
                                            discussion and analysis of financial condition and results of operations, financial statements,
                                            operating statements and supplementary data, notes to financial statements and auditors&rsquo;
                                            reports, or any such information contained in a business acquisition report (collectively,
                                            the &ldquo;<B>Financial Information</B>&rdquo;) and the auditors&rsquo; consents contained
                                            in or incorporated by reference therein, each of such Prospectus, Prospectus Amendment, Prospectus
                                            Supplement or Pricing Supplement or any Marketing Documents, as the case may be, in the French
                                            language, together with any document or information in the French language incorporated by
                                            reference therein is in all material respects a complete and adequate translation thereof
                                            in the English language, and that the two versions are not susceptible to any materially
                                            different interpretations with respect to any material matter and an opinion of Canadian
                                            Natural&rsquo;s auditors at the same time or times and substantially to the same effect,
                                            in respect of the Financial Information and the auditors&rsquo; consents, provided that with
                                            respect to the Pricing Supplement, such opinion may be limited to the Pricing Supplement
                                            and any other information included or incorporated by reference in the Prospectus and in
                                            respect of which such an opinion has not previously been delivered to the Dealers;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(vii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">at
                                            the time of the delivery to the Dealers, pursuant to this Section&nbsp;6, of:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(A)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            Prospectus, any Prospectus Amendment or any Prospectus Supplement; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(B)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">any
                                            Marketing Materials in the event the Template Version or any revised Template Version of
                                            such is first filed on SEDAR+ after the filing of the related Pricing Supplement, and in
                                            either case containing or incorporating by reference updated earnings coverage ratios, or
                                            at the time Canadian Natural files updated earnings coverage ratios or other material financial
                                            information that will be incorporated by reference into the Prospectus, any Prospectus Amendment,
                                            any Pricing Supplement, any Template Version or any revised Template Version of such Marketing
                                            Materials and the Dealers so request;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><FONT STYLE="font-size: 10pt">a comfort
letter from Canadian Natural&rsquo;s auditors, dated the date of the Prospectus, the Prospectus Amendment or the Prospectus Supplement,
the Template Version and, if applicable the revised Template Version of, such Marketing Materials as the case may be, and acceptable
in form and substance to the Dealers, acting reasonably, with respect to certain financial and accounting information relating to Canadian
Natural contained in such Prospectus, Prospectus Amendment, Prospectus Supplement, the Template Version and, if applicable the revised
Template Version of such Marketing Materials, as the case may be, or financial statements. The comfort letter shall be based on a review
by the auditors having a cut-off date not more than two business days prior to the date of the comfort letter or, with respect only to
updated earnings coverage information, the date of Canadian Natural&rsquo;s last quarter end and shall be in addition to any comfort
letters which must be filed with Securities Commissions pursuant to applicable Securities Laws;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(viii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">as
                                            soon as they are available, copies of all Marketing Documents in the English and French languages
                                            as required by applicable Securities Laws, together with, in the case of any Marketing Materials
                                            proposed to be Provided to potential investors of Medium Term Notes, that number of commercial
                                            copies of the Prospectus, any Prospectus Amendment and any applicable Prospectus Supplement
                                            that has been filed on SEDAR+, including copies of any documents or information incorporated
                                            by reference therein, as the Dealers may reasonably require, without charge, in those cities
                                            in the Jurisdictions that the Dealers may reasonably request, provided that Canadian Natural
                                            or its commercial printer is provided with written instructions as to quantities and location
                                            of such deliveries; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ix)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">upon
                                            receipt of written instructions to Canadian Natural or its commercial printer as to quantities
                                            and location of delivery, as soon as they are available and in any event within two business
                                            days from the date of the document in the case of the Prospectus, a Prospectus Amendment
                                            or a Prospectus Supplement (other than a Pricing Supplement) and, in the case of a Pricing
                                            Supplement, one business day from the date thereof, that number of commercial copies of the
                                            Prospectus, any Prospectus Amendment, any Prospectus Supplement and any Pricing Supplement,
                                            including copies of any documents or information incorporated by reference therein, as the
                                            Dealers may reasonably require, without charge, in those cities in the Jurisdictions that
                                            the Dealers may reasonably request; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural&rsquo;s delivery to the Dealers of the documents referred to in subsection&nbsp;6(a)(i),
                                            (ii), (iv), (v), (viii)&nbsp;and (ix)&nbsp;hereof shall constitute a representation and warranty
                                            by Canadian Natural to the Dealers that: (i)&nbsp;each such document at the time of its filing
                                            fully complied with the provisions of applicable Securities Laws; and (ii)&nbsp;all information
                                            and statements contained therein (except any information relating solely to the Dealers and
                                            provided by them in writing expressly for inclusion therein) are, at the respective dates
                                            of delivery thereof, true and correct, and, together with the Prospectus, contain no misrepresentation
                                            and constitute full, true and plain disclosure of all material facts relating to Canadian
                                            Natural and its Subsidiaries, taken as a whole, and the Medium Term Notes. Such delivery
                                            (in the absence of notification to cease Distribution of the Medium Term Notes by Canadian
                                            Natural as contemplated by Section&nbsp;5) shall constitute Canadian Natural&rsquo;s consent
                                            to the use by the Selling Firms of such documents in connection with the Distribution of
                                            the Medium Term Notes in compliance with the provisions of this Agreement.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>7.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>REPRESENTATIONS
                                            AND WARRANTIES</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural&rsquo;s delivery to a Dealer of a Pricing Supplement or Marketing Materials shall
                                            constitute a representation and warranty by Canadian Natural to such Dealer that:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">each
                                            Medium Term Note to which the Pricing Supplement or Marketing Materials relates will at its
                                            date of issue be duly and validly issued pursuant to the Principal Indenture or a Supplemental
                                            Indenture, as the case may be, and will constitute a legal, valid and binding obligation
                                            of Canadian Natural enforceable in accordance with its terms, subject to applicable qualifications
                                            as to enforceability;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            Prospectus, each Prospectus Amendment, each Prospectus Supplement, the Pricing Supplement
                                            and each Marketing Document comply with the provisions of applicable Securities Laws (except
                                            for any information contained therein relating solely to the Dealers and provided by them
                                            in writing expressly for inclusion therein);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            Principal Indenture is a legal, valid and binding obligation of Canadian Natural, enforceable
                                            in accordance with its terms and complies with all applicable legal requirements;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            Prospectus (except any information contained therein in writing provided by and relating
                                            solely to the Dealers) constitutes full, true and plain disclosure of all material facts
                                            relating to Canadian Natural and its Subsidiaries, taken as a whole, and the Medium Term
                                            Notes, and any Marketing Materials Provided to any potential investors in connection with
                                            a Distribution of Medium Term Notes do not contain any misrepresentation; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(v)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            issuance of each Medium Term Note to which the Pricing Supplement relates will not result
                                            in a breach of, a default under or the creation of any lien on Canadian Natural&rsquo;s properties
                                            under, any agreement or instrument to which it is a party or by which its property and assets
                                            are bound or affected.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural represents and warrants to the Dealers that:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural is eligible to make use of the Shelf Procedures;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">each
                                            Medium Term Note to which the Pricing Supplement or Marketing Materials relates will at its
                                            date of issue be duly and validly issued pursuant to the Principal Indenture and will constitute
                                            a legal, valid and binding obligation of Canadian Natural enforceable in accordance with
                                            its terms, subject to applicable bankruptcy, insolvency and arrangement laws affecting creditors&rsquo;
                                            rights generally and the discretion of the courts in granting equitable relief;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural has fulfilled or will fulfill all requirements to be fulfilled by it, including the
                                            filing of the Prospectus and all continuous disclosure materials required to be filed pursuant
                                            to applicable Securities Laws (including the filing of the Prospectus Supplement, any Pricing
                                            Supplement, any Template Version or revised Template Version of Marketing Materials and any
                                            other documents required to be filed with the Prospectus Supplement, which Canadian Natural
                                            will file within the time limits prescribed in the Shelf Procedures), to enable the Medium
                                            Term Notes to be offered for sale and sold to the public in the Selling Provinces through
                                            registrants who have complied with the relevant provisions of applicable Securities Laws
                                            and the terms and conditions of their registration;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            Prospectus was prepared and will be filed in each of the Selling Provinces in compliance
                                            with applicable Securities Laws, including the Shelf Procedures, and receipts for the Prospectus
                                            will be issued by or on behalf of the Securities Commissions prior to the filing of a Prospectus
                                            Supplement or a Pricing Supplement;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(v)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            Prospectus (excluding information and statements relating solely to the Dealers), does not
                                            contain a misrepresentation and constitutes full, true and plain disclosure of all material
                                            facts relating to the offering of the Medium Term Notes, and complies with the provisions
                                            of applicable Securities Laws (except for any information contained therein relating solely
                                            to the Dealers and provided by them in writing expressly for inclusion therein);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(vi)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            Prospectus Supplement, Pricing Supplement and each Marketing Document (excluding information
                                            and statements relating solely to the Dealers), as the case may be, as of their dates, will
                                            not contain a misrepresentation and will constitute full, true and plain disclosure of all
                                            material facts relating to the offering of the Medium Term Notes;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(vii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural has been duly incorporated and organized and is valid and subsisting or validly existing,
                                            as applicable, under the laws of its jurisdiction of incorporation and has all requisite
                                            corporate authority and power to carry on its business, as now conducted as presently proposed
                                            to be conducted by it, and to own its assets;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(viii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural has no Material Subsidiaries, except for Canadian Natural Upgrading Limited;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ix)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural and each of its Material Subsidiaries is qualified to carry on business under the
                                            laws of each jurisdiction in which it carries on its business;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(x)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural has full corporate power and authority to issue the Medium Term Notes;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xi)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural is not in default or breach of, and the execution and delivery of, and the performance
                                            of and compliance with the terms of this Agreement by Canadian Natural or any of the transactions
                                            contemplated hereby and thereby does not and will not result in any breach of, or constitute
                                            a default under, and does not and will not create a state of facts which, after notice or
                                            lapse of time or both, would result in a breach of or constitute a default under, any term
                                            or provision of the articles, by-laws or resolutions of Canadian Natural, or any indenture
                                            (including the Principal Indenture), mortgage, note, contract, agreement (written or oral),
                                            instrument, lease or other document to which Canadian Natural is a party or by which it is
                                            bound, or any judgment, decree, order, statute, rule&nbsp;or regulation applicable to Canadian
                                            Natural, which default or breach might reasonably be expected to materially adversely affect
                                            the business, operations, capital or condition (financial or otherwise) of Canadian Natural
                                            and its Subsidiaries (taken as a whole);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural has full corporate power and authority to enter into this Agreement and to perform
                                            its obligations set out herein and this Agreement has been and will be, duly authorized,
                                            executed and delivered by Canadian Natural and is a legal, valid and binding obligation of
                                            Canadian Natural enforceable against Canadian Natural in accordance with the Agreement&rsquo;s
                                            terms, subject to the general qualifications that:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(A)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">enforceability
                                            may be limited by bankruptcy, insolvency or other laws affecting creditors&rsquo; rights
                                            generally; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(B)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">equitable
                                            remedies, including the remedies of specific performance and injunctive relief, are available
                                            only in the discretion of the applicable court;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xiii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">except
                                            as disclosed in the Prospectus there has not been any material adverse change in the capital,
                                            assets, liabilities or obligations (absolute, accrued, contingent or otherwise) of Canadian
                                            Natural and its Subsidiaries (taken as a whole), from the position set forth in the Financial
                                            Statements;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xiv)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            description of the assets and liabilities of Canadian Natural and its Subsidiaries (taken
                                            as a whole) set forth in the Financial Statements fairly presents, in accordance with GAAP,
                                            the financial position and condition of Canadian Natural and its Subsidiaries (taken as a
                                            whole) as at the dates thereof and reflects all material liabilities (absolute, accrued,
                                            contingent or otherwise) of Canadian Natural and its Subsidiaries, as at the dates thereof;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xv)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">except
                                            as disclosed in the Financial Statements, there are no actions, suits, proceedings or inquiries
                                            pending or, to the knowledge of Canadian Natural, threatened against or affecting Canadian
                                            Natural at law or in equity or before or by any federal, provincial, municipal or other governmental
                                            department, commission, board, bureau, agency or instrumentality which in any way materially
                                            adversely affect, or may in any way materially adversely affect, the business, operations
                                            or condition (financial or otherwise) or assets of Canadian Natural and its Subsidiaries
                                            (taken as a whole) or which affect or may affect the Distribution of the Medium Term Notes;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xvi)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">except
                                            as disclosed in the Prospectus, since December&nbsp;31, 2024, Canadian Natural has not incurred,
                                            assumed or suffered any liability (absolute, accrued, contingent or otherwise) or entered
                                            into any transaction which is or may be material to Canadian Natural and its Subsidiaries
                                            (taken as a whole) and is not in the ordinary course of business;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xvii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            information and statements set forth in the Public Record were, taken as a whole, true, correct,
                                            and complete and did not contain any material misrepresentation, as of the date of such information
                                            or statements;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xviii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            authorized capital of Canadian Natural consists of an unlimited number of common shares,
                                            of which as at August&nbsp;5, 2025, approximately 2,088.7 million common shares are issued
                                            and outstanding as fully paid and non-assessable, and Preferred Shares, issuable in series,
                                            with the Board of Directors authorized to fix the number of shares in each series and to
                                            determine the designation, rights, privileges, restrictions and conditions attaching to the
                                            shares of each series at the time the shares are issued, of which as of the date hereof,
                                            none are issued and outstanding;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xix)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">no
                                            person holds any securities convertible or exchangeable into common shares of Canadian Natural
                                            or has any agreement, warrant, option, right or privilege being or capable of becoming an
                                            agreement, warrant, option or right for the purchase of any unissued securities of Canadian
                                            Natural, except that as of August&nbsp;5, 2025, approximately 57.2 million common shares
                                            of Canadian Natural are reserved for issuance upon the exercise of stock options currently
                                            issued to employees or other service providers;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xx)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            issued and outstanding common shares of Canadian Natural are listed and posted for trading
                                            on the Exchange and the New York Stock Exchange;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xxi)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural is a &ldquo;reporting issuer&rdquo; or has equivalent status in the provinces of
                                            British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia,
                                            Prince Edward Island and Newfoundland and Labrador within the meaning of the applicable Securities
                                            Laws in such provinces;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xxii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">neither
                                            any Securities Commission, the Exchange nor any similar regulatory authority has any order
                                            which is currently outstanding preventing or suspending trading in any securities of Canadian
                                            Natural and Canadian Natural is not in default of any material requirement of applicable
                                            Securities Laws;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xxiii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Computershare
                                            Trust Company of Canada at its principal office in the City of Calgary has been duly appointed
                                            trustee under the Principal Indenture;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xxiv)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural has made available to Sproule and GLJ prior to the issuance of the Engineering Reports,
                                            for the purpose of preparing the Engineering Reports, all information requested by Sproule
                                            or GLJ, as applicable, which information does not contain any material misrepresentation.
                                            Canadian Natural has no knowledge of a material adverse change in any reserves information
                                            provided to Sproule or GLJ, as applicable, since the date that such information was so provided.
                                            Canadian Natural believes that the Engineering Reports reasonably present the quantity of
                                            oil and gas reserves and for Sproule reasonably present the pre-tax discounted value of estimated
                                            future net revenue values of oil and gas reserves of Canadian Natural as at the effective
                                            dates thereof in respect of the reserves information therein based upon information available
                                            in respect of such reserves at the time such report was prepared and the pricing assumptions
                                            contained therein;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xxv)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">neither
                                            Canadian Natural nor, to the knowledge of Canadian Natural, any director, officer, agent,
                                            employee or affiliate of Canadian Natural, is aware of or has taken any action, directly
                                            or indirectly, that would reasonably be expected to result in a material violation by such
                                            persons of the U.S. <I>Foreign Corrupt Practices Act of 1977</I>, as amended, and the rules&nbsp;and
                                            regulations thereunder (the &ldquo;<B>FCPA</B>&rdquo;) or the <I>Corruption of Foreign Public
                                            Officials Act </I>(Canada) (the &ldquo;<B>CFPOA</B>&rdquo;), including, without limitation,
                                            making use of the mails or any means or instrumentality of interstate commerce corruptly
                                            in furtherance of an offer, payment, promise to pay or authorization of the payment of any
                                            money, or other property, gift, promise to give, or authorization of the giving of anything
                                            of value to any &ldquo;foreign official&rdquo; (as such term is defined in the FCPA) or any
                                            foreign political party or official thereof or any candidate for foreign political office,
                                            in contravention of the FCPA; Canadian Natural and, to the knowledge of Canadian Natural,
                                            its affiliates have conducted their businesses in material compliance with the FCPA and the
                                            CFPOA and have instituted and maintain policies and procedures designed to ensure, and which
                                            are reasonably expected to continue to ensure, continued compliance therewith;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xxvi)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">neither
                                            Canadian Natural nor, to the knowledge of Canadian Natural, any director, officer, agent,
                                            employee or affiliate of Canadian Natural, is currently subject to any sanctions administered
                                            by the Office of Foreign Assets Control of the U.S. Treasury Department (&ldquo;<B>OFAC</B>&rdquo;);
                                            and Canadian Natural will not directly or indirectly use the proceeds of the Offering, or
                                            lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture
                                            partner or other person or entity, for the purpose of financing the activities of any person
                                            currently subject to any U.S. sanctions administered by OFAC;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xxvii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            operations of Canadian Natural and its Subsidiaries are and have been conducted at all times
                                            in material compliance with applicable financial recordkeeping and reporting requirements
                                            and the money laundering statutes and the rules&nbsp;and regulations thereunder and any related
                                            or similar rules, regulations or guidelines, issued, administered or enforced by any governmental
                                            agency (collectively, the &ldquo;<B>Anti-Money Laundering Laws</B>&rdquo;) and no action,
                                            suit or proceeding by or before any court or governmental agency, authority or body or any
                                            arbitrator involving Canadian Natural with respect to the Anti-Money Laundering Laws is pending
                                            or, to the knowledge of Canadian Natural, threatened; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(xxviii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">in
                                            connection with offers and sales by the Dealers in the United States pursuant to subsection&nbsp;7(c)&nbsp;and
                                            Schedule&nbsp;E, Canadian Natural makes the representations, warranties and covenants applicable
                                            to it in Schedule&nbsp;E hereto.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">In
                                            connection with offers and sales in the United States, the Dealers represent and warrant
                                            to Canadian Natural that they make the representations, warranties and covenants applicable
                                            to them in Schedule E hereto and agree, on behalf of themselves and their United States affiliates,
                                            as applicable, for the benefit of Canadian Natural, to comply with the U.S. selling restrictions
                                            imposed by the laws of the United States and set forth in Schedule&nbsp;E hereto. They also
                                            agree to obtain such an agreement from each other Selling Firm. Notwithstanding the foregoing
                                            provisions of this subsection, a Dealer will not be liable to Canadian Natural under this
                                            subsection or Schedule&nbsp;E with respect to a violation by another Dealer or by another
                                            Selling Firm of the provisions of this subsection&nbsp;7(c)&nbsp;or Schedule&nbsp;E.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>8.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>CLOSING</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
Natural will deliver, or cause to be delivered, to the Dealers, on a date to be mutually agreed upon (the &ldquo;<B>Closing Date</B>&rdquo;),
the following documents:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">a
                                            certificate dated the Closing Date signed on Canadian Natural&rsquo;s behalf by two senior
                                            officers of Canadian Natural acceptable to the Dealers certifying on behalf of Canadian Natural
                                            and not in their personal capacity, to the best of their knowledge after due inquiry, that:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">except
                                            as disclosed in or contemplated by the Prospectus or any Prospectus Amendment, there has
                                            been no material change, financial or otherwise, to the Closing Date in the assets, liabilities
                                            (contingent or otherwise), capital, business or operations of Canadian Natural on a consolidated
                                            basis since December&nbsp;31,&nbsp;2024;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">except
                                            as disclosed in or contemplated by the Prospectus or any Prospectus Amendment, no transaction
                                            of a nature material to Canadian Natural on a consolidated basis has been entered into by
                                            Canadian Natural or any of its Subsidiaries since December&nbsp;31, 2024;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">except
                                            as disclosed in or contemplated by the Prospectus or any Prospectus Amendment, Canadian Natural
                                            on a consolidated basis has no material contingent liabilities;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">except
                                            as disclosed in or contemplated by the Prospectus or any Prospectus Amendment, there are
                                            no actions, suits, proceedings or inquiries pending or, to their knowledge, threatened against
                                            or affecting Canadian Natural or any of its Subsidiaries at law or in equity or before or
                                            by any federal, provincial, municipal or other governmental department, commission, board,
                                            bureau, agency or instrumentality, domestic or foreign, which may in any way materially and
                                            adversely affect Canadian Natural on a consolidated basis;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(v)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">no
                                            order prohibiting the sale of the Medium Term Notes has been issued and remains in effect
                                            by any competent authority having jurisdiction and no proceedings for such purpose are pending
                                            or, to the knowledge of the persons signing the certificate, contemplated or threatened;
                                            and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 16; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(vi)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            representations and warranties of Canadian Natural which are to be made hereunder and at
                                            the time of delivery of a Pricing Supplement to a Dealer are true and correct as at the Closing
                                            Date;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">an
                                            opinion of Canadian Natural&rsquo;s Counsel, in form acceptable to the Dealers, acting reasonably;
                                            and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">letters
                                            of each Rating Agency that has issued ratings confirming their respective ratings on the
                                            Medium Term Notes (excluding any unsolicited ratings), dated on or within two business days
                                            prior to such date as any Medium Term Notes are issued.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>9.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>INDEMNITY
                                            AND CONTRIBUTION</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural shall indemnify and save the Dealers, and the Dealers&rsquo; controlling shareholders,
                                            directors, officers, employees, and agents (each an &ldquo;<B>Indemnified Person</B>&rdquo;),
                                            harmless against and from all liabilities, claims, demands, losses (other than losses of
                                            profit in connection with the Distribution of the Medium Term Notes) costs, damages and expenses
                                            (collectively, a &ldquo;<B>Claim</B>&rdquo;) to which the Indemnified Person may be subject
                                            or which the Indemnified Person may suffer or incur, whether under the provisions of any
                                            statute or otherwise, in any way caused by, or arising directly or indirectly from or in
                                            consequence of:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">any
                                            information or statement contained in the Prospectus or any Marketing Document (other than
                                            any information or statement relating to the Dealers and furnished in writing to Canadian
                                            Natural by the Dealers or the Dealers&rsquo; Counsel expressly for inclusion in the Prospectus)
                                            which is or is alleged to be untrue or any omission or alleged omission to provide any information
                                            or state any fact the omission of which makes or is alleged to make any such information
                                            or statement untrue or misleading in light of the circumstances in which it was made;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">any
                                            misrepresentation or alleged misrepresentation (except a misrepresentation which is based
                                            upon information relating solely to the Dealers and furnished to Canadian Natural by the
                                            Dealers or the Dealers&rsquo; Counsel in writing expressly for inclusion in the Prospectus)
                                            contained in the Prospectus or any Marketing Document;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">any
                                            prohibition or restriction of trading in the securities of Canadian Natural or any prohibition
                                            or restriction affecting the Distribution of the Medium Term Notes imposed by any competent
                                            authority if such prohibition or restriction is based on any misrepresentation or alleged
                                            misrepresentation of a kind referred to in subsection&nbsp;9(a)(i)&nbsp;or (ii);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">any
                                            order made or any inquiry, investigation (whether formal or informal) or other proceeding
                                            commenced or threatened by any one or more competent authorities (not based upon the activities
                                            or the alleged activities of the Dealers, a Selling Firm or their banking or selling group
                                            members, if any) relating to or materially affecting the trading or Distribution of the Medium
                                            Term Notes;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(v)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">any
                                            breach of, default under or non-compliance by Canadian Natural with any representation, warranty,
                                            term or condition of this Agreement;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 17; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(vi)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural not complying with any requirement of applicable Securities Laws in connection with
                                            the transactions contemplated herein; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(vii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            direct sale by Canadian Natural of any Medium Term Notes unless such liability, claim, demand,
                                            loss, cost, damage or expense is caused by the actions of the Indemnified Person,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">provided
that Canadian Natural shall not be liable in such case to the extent that any such Claims are determined by a court of competent jurisdiction
in a final judgement as arising out of or based upon the failure of the Indemnified Person to comply with its obligations under the applicable
Securities Laws at or within the time specified by the Securities Laws; and in such event, such Dealer shall promptly reimburse Canadian
Natural for the respective amounts received from Canadian Natural pursuant to this indemnity in respect of such liabilities, claims,
demands and losses. The Dealers shall be entitled, as trustee, to enforce the obligations contained herein on behalf of any other party
entitled to indemnity or contribution hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">If
                                            any Claim contemplated by subsection&nbsp;9(a)&nbsp;shall be asserted against any Indemnified
                                            Person, such Indemnified Person shall notify Canadian Natural as soon as possible and in
                                            any event within 10 days of becoming aware of the nature of such Claim (provided that any
                                            failure to so notify promptly shall relieve Canadian Natural of liability under this Section&nbsp;9
                                            only to the extent that such failure prejudices Canadian Natural&rsquo;s ability to defend
                                            such Claim or results in any material increase in the liability which Canadian Natural may
                                            have under this Section&nbsp;9, however in the event of such a material increase in the liability
                                            of Canadian Natural, shall relieve Canadian Natural of such liability only to the extent
                                            of such material increase), and Canadian Natural shall be entitled (but not required) to
                                            assume the defence of any suit brought to enforce such claim, provided however, that the
                                            defence shall be through legal counsel selected by Canadian Natural and acceptable to the
                                            Indemnified Person acting reasonably and that no settlement may be made by Canadian Natural
                                            or the Indemnified Person without the prior written consent of the other, such consent not
                                            to be unreasonably withheld. The Indemnified Person shall have the right to retain its own
                                            counsel in any proceeding relating to a claim contemplated by subsection&nbsp;9(a)&nbsp;if:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            Indemnified Person has been advised by counsel in writing that there may be a reasonable
                                            legal defence available to the Indemnified Person which is different from or additional to
                                            a defence available to Canadian Natural (in which case Canadian Natural shall not have the
                                            right to assume the defence of such proceedings on the Indemnified Person&rsquo;s behalf);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural shall not have taken the defence of such proceedings and employed counsel within
                                            ten (10)&nbsp;days after notice of commencement of such proceedings; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            employment of such counsel has been authorized by Canadian Natural in connection with the
                                            defence of such proceeding;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">and, in
any such event, the reasonable fees and expenses of such Indemnified Person&rsquo;s counsel (on a solicitor and his client basis) shall
be paid by Canadian Natural, provided that Canadian Natural shall not, in connection with any one such action or separate but substantially
similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the fees
and expenses of more than one separate law firm (in addition to any local counsel) for all such Indemnified Person; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 18; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">In
                                            order to provide for just and equitable contribution in circumstances in which the indemnification
                                            provided for in this Agreement is due in accordance with its terms but is, for any reason,
                                            held by a court to be unavailable from Canadian Natural on ground of policy or otherwise,
                                            each of Canadian Natural and the party or parties seeking indemnification shall contribute
                                            to the aggregate liabilities, claims, demands, losses (other than losses of profit in connection
                                            with the Distribution of the Medium Term Notes), costs, damages and expenses (including legal
                                            or other expenses reasonably incurred in connection with investigation or defence of the
                                            same) to which they may be subject or which they may suffer or incur;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">in
                                            such proportion as is appropriate to reflect the relative benefit received by Canadian Natural
                                            on the one hand, and by the party or parties seeking indemnity on the other hand, from the
                                            offering of the Medium Term Notes; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">if
                                            the allocation provided by subsection&nbsp;9(c)(i)&nbsp;above is not permitted by applicable
                                            law, in such proportion as is appropriate to reflect not only the relative benefits referred
                                            to in subsection&nbsp;9(c)(i)&nbsp;above but also to reflect the relative fault of the party
                                            or parties seeking indemnity, on the one hand, and the parties from whom indemnity is sought,
                                            on the other hand, in connection with the statements, commissions, or omissions or other
                                            matters which resulted in such liabilities, claims, demands, losses, costs, damages or expenses
                                            as well as any other relevant equitable considerations;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">provided
that the Dealers shall not be liable in any event to contribute in the aggregate, any amount in excess of the fees or any portion thereof
actually received by them in connection with the Distribution of the Medium Term Notes. The relative benefits received by Canadian Natural,
on the one hand, and the Dealers, on the other hand, shall be deemed to be in the same proportion that the aggregate principal amount
of the Medium Term Notes sold by the Dealers under the Prospectus (net of fees but before deducting expenses) bear to the fees received
by the Dealers. In the case of liability arising out of the Prospectus, the relative fault of Canadian Natural, on the one hand, and
of the Dealers, on the other hand, shall be determined by reference, among other things, to whether the misrepresentation or alleged
misrepresentation, order, inquiry, investigation or other matter or thing referred to in this Section&nbsp;9 relates to information supplied
or which ought to have been supplied by, or steps or actions taken or done on behalf of or which ought to have been taken or done on
behalf of, Canadian Natural or the Dealers, and the parties, relative intent, knowledge, access to information and opportunity to correct
or prevent such misrepresentation or alleged misrepresentation, order, inquiry, investigation or other matter or thing referred to in
this Section&nbsp;9.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
Natural agrees that it would not be just and equitable if contributions pursuant to this Agreement were determined by pro rata allocation
or by any other method of allocation which does not take into account the equitable considerations referred to in the immediately preceding
paragraphs. The rights to contribution provided in this subsection&nbsp;9(c)&nbsp;shall be in addition to, and without prejudice to,
any other right to contribution which the Dealers may have.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
Natural waives all right of contribution by statute or common law which it may have against the Dealers in respect of losses, demands,
claims, costs, damages, expenses or liabilities which it may sustain as a direct or indirect consequence of the Prospectus or any other
document containing or being alleged to contain a misrepresentation, provided that such right against any one of the Dealers is not waived
in respect of losses, claims, demands, costs, damages, expenses or liabilities sustained as a direct or indirect consequence of there
being a misrepresentation or omission in any information in respect of the Dealers furnished to Canadian Natural by any one or more of
the Dealers in writing specifically for use therein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 19; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">If
                                            and to the extent that a court of competent jurisdiction in a final judgment from which no
                                            appeal can be made or any federal, provincial, municipal or other governmental department,
                                            commission, board, bureau, agency or instrumentality, domestic or foreign in a final ruling
                                            from which no appeal can be made shall determine that the liabilities, claims, actions, suits,
                                            proceedings, losses, costs, damages or expenses resulted from the gross negligence, fraud,
                                            wilful default or wilful misconduct of an Indemnified Person claiming indemnity, the rights
                                            of indemnity and rights of contribution provided for in this Section&nbsp;9 shall cease to
                                            apply to such Indemnified Person. For greater certainty, Canadian Natural and the Dealers
                                            agree that they do not intend that any failure by the Dealers to conduct such reasonable
                                            investigation as necessary to provide the Dealers with reasonable grounds for believing the
                                            Prospectus and any Prospectus Amendment contained no misrepresentation shall constitute &ldquo;gross
                                            negligence&rdquo; or &ldquo;wilful misconduct&rdquo; for purposes of this Section&nbsp;9
                                            or otherwise disentitle the Dealers from indemnification or contribution hereunder.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(e)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Without
                                            limiting the generality of subsection 9(d), the rights of indemnity provided under subsection
                                            9(a)&nbsp;and rights of contribution provided under subsection 9(c)&nbsp;shall not apply
                                            if Canadian Natural has complied with subsection 6(a)(i), (ii), (iv), (v), (ix)&nbsp;and
                                            (x), as applicable, and the person asserting any claim contemplated by this Section&nbsp;9
                                            was not provided with a copy of the Prospectus, any Prospectus Amendment, any Prospectus
                                            Supplement or any Pricing Supplement that corrects any misrepresentation or alleged misrepresentation
                                            that is the basis for such claim and that is required, under applicable Securities Laws,
                                            to be delivered to such person by the Dealers.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>10.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>PURCHASERS&rsquo;
                                            REMEDIES</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">Should
any purchaser of the Medium Term Notes from any of the Dealers or from any of the Selling Firms effectively rescind the purchaser&rsquo;s
contract for the purchase of the Medium Term Notes pursuant to statutory rights of rescission referenced under the heading &ldquo;Statutory
Rights of Withdrawal and Rescission&rdquo; in the Prospectus, or should the purchaser effectively enforce a statutory right of action
for damages referenced under the same heading, Canadian Natural shall upon the request of the Dealer or Selling Firm:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">indemnify
                                            the Dealer and the Selling Firm, or any shareholder, director, officer or employee thereof,
                                            and save the Dealer and the Selling Firm, or any director or officer thereof, harmless from
                                            any losses or damages suffered directly; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">pay
                                            or satisfy all reasonable legal and other expenses incurred by the Dealer and the Selling
                                            Firm in connection with the defence of any action to enforce the rescission right or right
                                            of action commenced by the purchaser;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">provided
that these obligations shall not apply if such rescission or right of action for damages arises out of, or is based upon, an untrue statement
furnished in writing to Canadian Natural by any of the Dealers specifically for use in the Prospectus or if a purchaser exercises a right
of withdrawal within the time limits set forth in Securities Laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>11.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>TERMINATION
                                            BY DEALERS OF PURCHASE AS PRINCIPAL</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">In addition
to any other remedies which may be available to the Dealers, a Dealer shall be entitled, at its option, to terminate and cancel its obligations
to purchase Medium Term Notes as principal, without any liability on its part, immediately upon written notice to Canadian Natural at
any time prior to the completion of such purchase, if after such Dealer has agreed to purchase Medium Term Notes as principal:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">any
                                            order to cease or suspend trading in any securities of Canadian Natural, or prohibiting or
                                            restricting the Distribution of the Medium Term Notes, is made, or proceedings are announced,
                                            commenced or threatened for the making of any such order, by any Securities Commissions or
                                            similar regulatory authority, the Exchange or by any other competent authority, and has not
                                            been rescinded, revoked or withdrawn;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 20; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">any
                                            inquiry, investigation (whether formal or informal) or other proceeding in relation to Canadian
                                            Natural or any of its directors or senior officers (relating to their activities as directors
                                            or senior officers of Canadian Natural or their ability to continue to serve as directors
                                            or senior officers of Canadian Natural) is announced, commenced or threatened by any Securities
                                            Commission, the Exchange or by any other competent authority if, in the reasonable opinion
                                            of any Dealer, the announcement, commencement or threatening thereof materially adversely
                                            affects or may materially adversely affect the trading or Distribution of the Medium Term
                                            Notes;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">there
                                            shall have occurred or been discovered by any Dealer any material adverse change, as determined
                                            by any Dealer in its sole discretion, acting reasonably, in the business, operations, capital
                                            or condition (financial or otherwise) of Canadian Natural and its Subsidiaries taken as a
                                            whole or their properties, assets, liabilities or obligations (absolute, accrued, contingent
                                            or otherwise);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">there
                                            should develop, occur or come into effect or existence any event, action, state, condition
                                            or financial occurrence, or any catastrophe of national or international consequence, any
                                            law or regulation, or any other occurrence of any nature whatsoever, which, in the sole opinion
                                            of any Dealer, acting reasonably, seriously adversely affect or involve, or will seriously
                                            adversely affect or involve, the financial markets or the business, operations or affairs
                                            of Canadian Natural, such that it would not be practical (in the sole opinion of any Dealer)
                                            to market the Medium Term Notes; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(e)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                            rating assigned by any Rating Agency (excluding any unsolicited ratings) to the unsecured
                                            debt securities of Canadian Natural (which includes the Medium Term Notes) as of the Trade
                                            Date (as defined in Schedule&nbsp;B) shall have been lowered since that date or if any such
                                            rating agency shall have publicly announced that is has under surveillance or review, with
                                            possible negative implications, its rating of any debt securities of Canadian Natural (excluding
                                            any unsolicited ratings).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">In the
event of a termination by any Dealer pursuant to this Section&nbsp;11, there shall be no further liability on the part of such Dealer
or of Canadian Natural to such Dealer except in respect of the obligations of Canadian Natural under Sections&nbsp;9 and 16.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>12.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>SEVERAL
                                            OBLIGATIONS</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">If, with
respect to any particular sale of Medium Term Notes, two or more of the Dealers agree to purchase the Medium Term Notes as principals,
the obligations of such Dealers to purchase the Medium Term Notes shall be several and not joint in that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">each
                                            Dealer shall be obligated to purchase and pay for only the percentage of the Medium Term
                                            Notes set opposite its name in the applicable Underwriting Addendum; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">if
                                            one or more of the Dealers shall fail or refuse to purchase its applicable percentage of
                                            the Medium Term Notes, each of the other relevant Dealers shall be relieved, without liability,
                                            of its obligation to purchase its respective percentage of the Medium Term Notes on submission
                                            to Canadian Natural of reasonable evidence of its ability and willingness to fulfill its
                                            obligation;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 21; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">provided
that those of the remaining Dealers who shall be willing and able to purchase their respective percentage of the Medium Term Notes shall
have the right, but not the obligation, to purchase the Medium Term Notes not taken up, on a pro rata basis or as they may otherwise
agree. Nothing in this Section&nbsp;12 shall oblige Canadian Natural to sell to any or all of the Dealers who have entered into an Underwriting
Addendum with Canadian Natural less than all of the Medium Term Notes which Canadian Natural has agreed to sell under such Underwriting
Addendum or shall relieve from liability to Canadian Natural any of the Dealers who shall default in its obligation to purchase its respective
percentage of the Medium Term Notes under such Underwriting Addendum.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>13.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>DUE
                                            DILIGENCE</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural shall allow the Dealers and the Dealers&rsquo; Counsel to carry out the due diligence
                                            which the Dealers may reasonably require in order to fulfil the Dealers obligations as registrants
                                            and to enable the Dealers to responsibly execute the certificate in the Preliminary Prospectus,
                                            the Prospectus, a Prospectus Supplement or a Pricing Supplement required to be executed by
                                            the Dealers and as contemplated by Schedule&nbsp;D hereto. Canadian Natural shall promptly
                                            give the Dealers reasonable notice of the meetings contemplated by Schedule&nbsp;D; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">If
                                            any Dealer is not satisfied with the content of a Prospectus Amendment, including, as applicable,
                                            the documents and information incorporated therein by reference required to be filed by Canadian
                                            Natural in connection with the Distribution of the Medium Term Notes or if any Dealer gives
                                            notice to Canadian Natural that, in that Dealer&rsquo;s judgment, acting reasonably, a Prospectus
                                            Amendment is required under Securities Laws to be filed by Canadian Natural and Canadian
                                            Natural is not prepared to file such Prospectus Amendment or if Canadian Natural determines
                                            in its sole discretion that it does not wish to continue the agency arrangement specified
                                            herein (in respect of one or more of the Dealers), Canadian Natural or that Dealer, as applicable,
                                            shall be entitled to terminate its rights and obligations under this Agreement upon delivery
                                            of notice to that effect, in which event there shall be no liability on the part of that
                                            Dealer to Canadian Natural or of Canadian Natural to that Dealer or Dealers, except in respect
                                            of liability, if any, which may arise on the part of Canadian Natural under the provisions
                                            of Sections 9 and 16 hereof. Upon such termination Canadian Natural and the remaining Dealers
                                            shall promptly file:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">if
                                            appropriate, a Prospectus Amendment indicating that the applicable Dealer or Dealers have
                                            ceased to be a Dealer or Dealers under the Prospectus and containing a new prospectus certificate
                                            page&nbsp;signed by the remaining Dealers; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">any
                                            other documents as may be required under Securities Laws.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>14.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>NO
                                            JOINT OBLIGATIONS</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
Natural agrees that the obligations of the Dealers hereunder are several and not joint or joint and several.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 22; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>15.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>NOTICES</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Any notice or other communication to
be given hereunder shall, in the case of notice to Canadian Natural, be addressed to Victor C. Darel, Chief Financial Officer at Canadian
Natural&rsquo;s address on page 1 hereof (E-Mail: [REDACTED]) and, in the case of notice to the Dealers, be addressed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">ATB Securities
Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">66 Wellington
Street West, Suite&nbsp;3530</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Toronto,
ON M5K 1A1</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Attention:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>Andrew
Becker</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">E-Mail:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>[REDACTED]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">BMO Nesbitt
Burns Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">100 King
Street West</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">7<SUP>th</SUP>
Floor</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Toronto,
ON M5X 1H3</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Attention:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>Nicholas
Mann</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">E-Mail:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>[REDACTED]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">CIBC World
Markets Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">BCE Place</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">161 Bay
Street</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Toronto,
Ontario M5J 2S8</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Attention:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>Christiane
(Tia) Plona</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">E-Mail:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>[REDACTED]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Desjardins
Securities Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">25 York
Street, Suite&nbsp;1000</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Toronto,
Ontario M5J 2V5</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Attention:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>Michael
Giansante</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">E-Mail:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>[REDACTED]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Merrill
Lynch Canada Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Brookfield
Place</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">181 Bay
Street, Suite&nbsp;400</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Toronto,
Ontario M5J 2V8</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Attention:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>Jamie
Hancock</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">E-Mail:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>[REDACTED]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Mizuho
Securities Canada Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">c/o
Mizuho Securities USA LLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">1271
Avenue of the Americas</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">New York,
NY 10020</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Attention:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>Debt
Capital Markets Desk</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">With a
copy to:&#8239;&#8239;&#8239;Office of the General Counsel</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">E-Mail:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>[REDACTED]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">MUFG Securities
(Canada),&nbsp;Ltd.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Royal Bank
Plaza, South Tower</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">200 Bay
Street, Suite&nbsp;3400</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Toronto,
ON, M5J 2J1</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Attention:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>Steve
Uszkay</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">E-Mail:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>[REDACTED]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 23; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">National
Bank Financial Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">130 King
Street West</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">4FL Podium</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Toronto,
Ontario M5X 1J9</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Attention:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>Tushar
Kittur</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">E-Mail:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>[REDACTED]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">RBC Dominion
Securities Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">P.O.&nbsp;Box
50, 200 Bay Street</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">2<SUP>nd</SUP>
Floor, North Tower Royal Bank Plaza</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Toronto,
Ontario M5J 2W7</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Attention:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>Jamie
Wetmore</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">E-Mail:<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>[REDACTED]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Scotia
Capital Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">40 Temperance
Street</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">4<SUP>th</SUP>
Floor</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Toronto,
Ontario M5H 0B4</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Attention:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Patrick
Breithaupt</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">E-Mail:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;[REDACTED]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">SMBC Nikko
Securities Canada,&nbsp;Ltd.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">c/o SMBC
Nikko Securities America,&nbsp;Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">277 Park
Avenue</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">New York,
NY, 10172</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Attention:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Debt
Capital Markets</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">E-Mail:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;[REDACTED]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">TD Securities
Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">7<SUP>th</SUP>
Floor, 222 Bay Street</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Toronto,
Ontario M5K 1A2</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Attention:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Mark
Laing</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">E-Mail:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;[REDACTED]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">Any notice
or other communication shall be in writing and, unless delivered personally to a responsible officer of the addressee, shall be given
by electronic mail to the addressee, and shall be deemed to be given at the time electronically mailed or delivered, if electronically
mailed or delivered to the recipient on a business day (in Calgary) and before 5:00 p.m.&nbsp;(Calgary time) on such business day, and
otherwise shall be deemed to be given at 9:00 a.m.&nbsp;(Calgary time) on the next following business day (in Calgary). Any party may
change its address for notice by notice to the other parties hereto given in the manner herein provided.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>16.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>FEES
                                            AND EXPENSES</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">The costs
and expenses of or incidental to the offering and issue of the Medium Term Notes including, without limitation, the fees and expenses
of Dealers&rsquo; Counsel and Canadian Natural&rsquo;s auditors, the costs of printing and delivering the definitive Medium Term Notes,
the cost of printing the Prospectus, any Prospectus Amendments, any Prospectus Supplement or any Pricing Supplement and any Marketing
Document, the expenses of qualifying the issue and distributing the Medium Term Notes under applicable Securities Laws, all out of pocket
expenses of the Dealers and all marketing, advertising and promotional expenses, including the costs of any roadshows, confidential marketing
memoranda, presentation materials and the Dealer&rsquo;s transportation costs related to the offering of Medium Term Notes shall be paid
by Canadian Natural, whether or not the offering and issue contemplated herein is completed, or as may be agreed to between Canadian
Natural and the Dealers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 24; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>17.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>UNITED
                                            STATES SELLING RESTRICTIONS</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">The attached
Schedule E is incorporated into and forms part of this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>18.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>MISCELLANEOUS</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            term of the Dealers&rsquo; obligations under this Agreement shall expire on the earlier of:
                                            (i)&nbsp;the date that is 25 months from the date of the receipt for the Prospectus; or (ii)&nbsp;the
                                            date on which Canadian Natural files a new Prospectus to replace or supersede the Prospectus
                                            for the purposes of Canadian Natural&rsquo;s continuing Medium Term Note program unless terminated
                                            earlier pursuant to the provisions of subsection 13(b)&nbsp;hereof.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            representations, warranties, indemnities and agreements herein contained shall survive the
                                            sale by the Dealers of the Medium Term Notes.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">It
                                            shall be a condition of the issue and sale of Medium Term Notes hereunder that the terms
                                            and conditions of Canadian Natural&rsquo;s Principal Indenture shall be complied with at
                                            the time of each issue and sale of Medium Term Notes.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">This
                                            Agreement shall be governed by and construed in accordance with the laws of the Province
                                            of Alberta and the courts of that province shall have exclusive jurisdiction over any dispute
                                            hereunder.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(e)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">No
                                            waiver, modification or amendment of any term of this Agreement shall be effective unless
                                            effected in writing.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(f)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">This
                                            Agreement may be executed in several counterparts, each of which when so executed shall be
                                            deemed to be an original and all counterparts together shall constitute one and the same
                                            instrument. A signed counterpart by way of electronic transmission shall be as binding upon
                                            the parties as an originally signed counterpart. Each of the parties to this Agreement will
                                            be entitled to rely on delivery of an electronic copy of this Agreement and acceptance by
                                            each party of any such electronic copy will be legally effective to create a valid and binding
                                            agreement between the parties to this Agreement in accordance with the terms of this Agreement.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(g)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">If
                                            any provision of this Agreement is deemed to be void, voidable or unenforceable, in whole
                                            or in part, it shall be deemed not to affect or impair the validity of any other provision
                                            of this Agreement and such void, voidable or unenforceable provision shall be severable from
                                            this Agreement.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">If the
foregoing is in accordance with your understanding of the terms of the transaction we are to enter into and if such terms are agreed
to by you, please confirm your acceptance by signing this letter in the place indicated below, in which event this letter shall constitute
a binding Agreement between Canadian Natural and the Dealers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 25; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>ATB
    SECURITIES INC.</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">(signed) &ldquo;<I>Andrew Becker</I>&rdquo;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>BMO
    NESBITT BURNS INC.</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">(signed) &ldquo;<I>Shannon Jones</I>&rdquo;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>CIBC
    WORLD MARKETS INC.</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">(signed) &ldquo;<I>Christiane Plona</I>&rdquo;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>DESJARDINS
    SECURITIES INC.</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">(signed) &ldquo;<I>Ryan Godfrey</I>&rdquo;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>MERRILL
    LYNCH CANADA INC.</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">(signed) &ldquo;<I>Jamie Hancock</I>&rdquo;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>MIZUHO
    SECURITIES CANADA INC.</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">(signed) &ldquo;<I>Stephen E. Leamer</I>&rdquo;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>MUFG
    SECURITIES (CANADA),&nbsp;LTD.</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">(signed) &ldquo;<I>Steve Uszkay</I>&rdquo;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NATIONAL
    BANK FINANCIAL INC.</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">(signed) &ldquo;<I>Tushar Kittur</I>&rdquo;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>RBC DOMINION SECURITIES INC. &nbsp;</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; width: 45%"><FONT STYLE="font-size: 10pt">(signed) &ldquo;<I>James Wetmore</I>&rdquo;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 26; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>SCOTIA CAPITAL INC. &nbsp;</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; width: 45%"><FONT STYLE="font-size: 10pt">(signed) &ldquo;<I>Patrick
    Breithaupt&rdquo;</I>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>SMBC NIKKO SECURITIES CANADA,&nbsp;LTD. &nbsp;</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">(signed) &ldquo;<I>Dong Sohn</I>&rdquo;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>TD SECURITIES INC. &nbsp;</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">(signed) &ldquo;<I>Mark Laing</I>&rdquo;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 27; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The
foregoing accurately reflects the terms of the transaction we are to enter into and such terms are hereby agreed to by Canadian Natural
as evidenced by the signatures of its duly authorized officers on its behalf.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">DATED this 28<SUP>th</SUP>
day of August, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif">CANADIAN NATURAL RESOURCES LIMITED</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%">Per: &nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%">(signed) &ldquo;<I>Victor C. Darel</I>&rdquo;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Victor C. Darel</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Chief Financial Officer</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Per: &nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(signed) &ldquo;<I>Brenda G. Balog</I>&rdquo;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Brenda G. Balog</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Vice-President, Legal and General Counsel</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp; &nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 28; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>SCHEDULE A</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Commission
Rates</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Part&nbsp;I &ndash; Agency Sales</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">The following are
the commission rates that shall apply to any sale of Medium Term Notes by a Dealer, acting as agent, unless Canadian Natural and the
Dealer otherwise agree:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Term and Medium Term Notes</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Commission Rate</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: center">&ge; 1 year and &lt; 2 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: center">0.10%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 2 years and &lt;3 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.20%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 3 years and &lt;4 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.25%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 4 years and &lt;5 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.30%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 5 years and &lt;7 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.35%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 7 years and &lt;8 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.37%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 8 years and &lt; 11 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.40%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 11 years and &lt; 16 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.45%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 16 years and &lt;30 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.50%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 30 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">To be negotiated</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Part&nbsp;II &ndash; Principal Sales</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">The following are
the commission rates that shall apply to any purchase of Medium Term Notes by any one or more Dealers, acting as principals, unless Canadian
Natural and the relevant Dealers otherwise agree:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Term and Medium Term Notes</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Commission Rate</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: center">&ge; 1 year and &lt; 2 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: center">0.125%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 2 years and &lt; 3 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.250%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 3 years and &lt; 4 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.375%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 4 years and &lt; 5 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.500%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 5 years and &lt; 6 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.625%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 6 years and &lt; 8 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.650%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 8 years and &lt; 10 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.700%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 10 years and &lt; 16 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.750%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 16 years and &lt; 30 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.900%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&ge; 30 years</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">To be negotiated</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 29; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>SCHEDULE B</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Operating
Procedures</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The
following outlines the procedures that will apply to the sale of Medium Term Notes by a Dealer or Dealers acting as agents of Canadian
Natural.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt"><B>A.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>General</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural may establish, in consultation with the Dealers, or any of them, for the current
                                            Business Day: (i)&nbsp;an appropriate rate structure for Medium Term Notes to be sold by
                                            the Dealers pursuant to the Agreement and (ii)&nbsp;Canadian Natural&rsquo;s requirements
                                            for funds to be raised by the sale of such Medium Term Notes. The rate structure requirements
                                            for funds so established shall be based upon market conditions and Canadian Natural&rsquo;s
                                            current and prospective funding requirements.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Whenever
                                            a Dealer obtains a firm offer to purchase a Medium Term Note at the prevailing rate structure
                                            for the current Business Day, the Dealer shall telephone or otherwise contact Canadian Natural
                                            to determine whether Canadian Natural still requires funds and, if it does, Canadian Natural
                                            shall confirm by telephone or otherwise that the Dealer may accept such offer on behalf of
                                            Canadian Natural or may acquire such interest as principal on terms then mutually agreed
                                            upon by the Dealer and Canadian Natural for resale by the Dealer pursuant to such offer.
                                            If Canadian Natural and the Dealer so agree to the acquisition of such Medium Term Note by
                                            the Dealer as principal, the provisions of this Agreement applicable to a Dealer acquiring
                                            a Medium Term Note as principal for resale shall apply.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">All
                                            orders accepted by Canadian Natural on a particular day, such day of acceptance hereinafter
                                            referred to as the &ldquo;Trade Date&rdquo;, shall be settled on the second Business Day
                                            following the Trade Date or such other date as may be agreed to by the Relevant Dealers (as
                                            defined below) and Canadian Natural (the &ldquo;<B>Closing Date</B>&rdquo;).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">As
                                            used herein, the term &ldquo;Relevant Dealers&rdquo; refers to the Dealer or Dealers through
                                            whom any particular sale of Medium Term Notes is affected. For any particular sale of Medium
                                            Term Notes where the Medium Term Notes are sold through more than one Dealer, Canadian Natural
                                            may appoint a coordinating Dealer, in which case all steps which must or may be taken by
                                            the Relevant Dealers as contemplated by the following procedures may be taken by the coordinating
                                            Dealer on the Relevant Dealers behalf, and each of the Relevant Dealers authorizes Canadian
                                            Natural to deal solely with, accept notification of any such steps from and effect payment
                                            of the commissions payable to the Relevant Dealers to, the coordinating Dealer on behalf
                                            of all the Relevant Dealers.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">All
                                            references to time in this Schedule&nbsp;B are to Calgary local time. In this Schedule&nbsp;B
                                            a &ldquo;Business Day&rdquo; shall mean a day which is not a Saturday, Sunday, holiday or
                                            a day on which businesses in either Calgary or Toronto are generally not open for business.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">These
                                            Operating Procedures shall be in effect until such time as Canadian Natural and the Dealers
                                            shall agree that revisions to these Operating Procedures are desirable.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">The provisions
of Part&nbsp;B of these Operating Procedures shall apply to the issuance of Global Notes and the provisions of Part&nbsp;C of these Operating
Procedures shall apply to the issuance of Certificated Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 30; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt"><B>B.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Global
                                            Notes</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Each
                                            Global Note shall be registered in the name of CDS&nbsp;&amp; Co, as nominee for CDS Clearing
                                            and Depository Services Inc. (&ldquo;<B>CDS</B>&rdquo;), on the register maintained under
                                            the Principal Indenture. The beneficial owner of an interest in a Global Note (each, a &ldquo;<B>Book-Entry
                                            Interest</B>&rdquo;) shall designate one or more participants in CDS to act as agent or agents
                                            for such owner in connection with the book-entry system maintained by CDS, and CDS shall
                                            record in book-entry form, in accordance with instructions provided by such participants,
                                            a credit balance with respect to such Book-Entry Interest in the account of such participants.
                                            The Book-Entry Interests shall be recorded through the records of such participants or through
                                            the records of such participants and one or more indirect participants in CDS.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            Relevant Dealers shall verbally advise Canadian Natural of as much of the following information
                                            as is available immediately following the acceptance of any offer by the Relevant Dealers
                                            acting as agents on behalf of Canadian Natural:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">purchaser
                                            of each Book-Entry Interest;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">principal
                                            amount and currency of each Book-Entry Interest;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">in
                                            the case of a fixed rate Global Note, the interest rate, or, in the case of a floating rate
                                            Global Note, all relevant information relating to the manner of calculation of interest;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">interest
                                            payment dates, including the initial interest payment date;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(e)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Closing
                                            Date;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(f)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">maturity
                                            date;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(g)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">price;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(h)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">net
                                            proceeds;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">spread
                                            vs. comparable benchmark;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(j)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Trade
                                            Date;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(k)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Relevant
                                            Dealers commission;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(l)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">jurisdiction
                                            of sale; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(m)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">redemption
                                            provisions.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">That
portion of the information referred to above that is necessary in order to prepare a Pricing Supplement, that is, the information referred
to in sub-paragraphs B.2(b), (c), (d), (e), (f), (g), (h), (j)&nbsp;and (m)&nbsp;above, shall be confirmed by electronic mail by the
Relevant Dealers to Canadian Natural by 1:00 p.m.&nbsp;on the Trade Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">By
                                            2:00 p.m.&nbsp;on the Trade Date, Canadian Natural shall forward to the Relevant Dealers
                                            a Pricing Supplement, which shall include identification of the CUSIP ISIN number. As soon
                                            as practicable thereafter, Canadian Natural shall request eligibility of the ISIN. By the
                                            end of the Business Day prior to the Closing Date, the Relevant Dealers shall deliver the
                                            Prospectus and any amendments (including the Pricing Supplement) to the purchaser of each
                                            Book-Entry Interest as of the Closing Date, provided that Canadian Natural has previously
                                            delivered the applicable Pricing Supplement to the Relevant Dealers.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 31; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">As
                                            soon as practicable after ISINs have been made eligible and in any event prior to the Closing
                                            Date, Canadian Natural shall prepare and forward a copy of the requisite BEO Acknowledgment
                                            Form&nbsp;to the office of CDS in electronic form, with a copy to the Calgary office of CDS
                                            by fax or e-mail.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">By
                                            5:00 p.m.&nbsp;on the Business Day prior to the Closing Date, the Relevant Dealers shall
                                            advise the Calgary office of CDS of the names and FINS numbers of the participants in whose
                                            name the Book Entry Interests shall be recorded.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">At
                                            8:00 a.m.&nbsp;on the Closing Date (the &ldquo;<B>Closing Time</B>&rdquo;), Canadian Natural
                                            shall deliver to Computershare Trust Company of Canada (the &ldquo;<B>Trustee</B>&rdquo;)
                                            a &ldquo;Written Order of the Corporation&rdquo; requesting the certification and delivery
                                            of a Global Note in the form prescribed by the Principal Indenture; such &ldquo;Written Order
                                            of the Corporation&rdquo; shall specify CDS&nbsp;&amp; Co as the registered owner and the
                                            Calgary office of CDS as the place of delivery, and shall also specify the date of issue,
                                            principal amount, currency, maturity date, interest rate (if any), manner of calculation
                                            of interest (if any) and redemption provisions (if any). The Trustee shall authenticate the
                                            Global Note and deliver it to the Calgary office of CDS immediately after the Closing Time
                                            and before 9:00 a.m.&nbsp;on the Closing Date.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">7.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">At
                                            the Closing Time, the Relevant Dealers shall deliver to Canadian Natural the purchase price
                                            of the Medium Term Notes net of the commission to the Relevant Dealers.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">Payment
of the purchase price for the Medium Term Notes shall be made (a)&nbsp;in the case of payment in cash, by wire transfer to a bank account
previously designated by Canadian Natural and such transfer shall be evidenced by an email from the Relevant Dealers to Canadian Natural
quoting the reference number, as provided by the initiating bank, of the particular electronic funds transfer, and/or (b)&nbsp;in the
case of payment in outstanding securities or other non-cash assets, in a manner agreed as between Canadian Natural and the Relevant Dealers.
If the Relevant Dealers do not provide the foregoing reference number for a wire transfer by 9:00 a.m.&nbsp;on the Closing Date, then
in Canadian Natural&rsquo;s sole discretion the transaction shall not close until the next Business Day and Canadian Natural shall be
compensated by the Relevant Dealers for its cost of funds incurred as a result of the delay in closing, as such amount is determined
by Canadian Natural, acting reasonably, for the period from but not including the scheduled Closing Date to and including the date that
the transaction closes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">8.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            Relevant Dealers shall confirm the purchase of each Book-Entry Interest to the purchaser
                                            thereof by mailing a written confirmation to such purchaser.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">9.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">If
                                            the Closing Date is rescheduled or cancelled, Canadian Natural shall deliver to the Trustee
                                            and CDS a cancellation message to such effect as soon as possible and by no later than 9:00
                                            a.m.&nbsp;on the Closing Date.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">10.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">If
                                            a Global Note is cancelled after closing, Canadian Natural shall instruct the Trustee to
                                            mark such Global Note &ldquo;void and cancelled&rdquo;, and instruct the Trustee to make
                                            appropriate entries in its records. The CUSIP number assigned to such Global Note shall,
                                            in accordance with CUSIP service bureau procedures, be cancelled and not reassigned.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">11.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">As
                                            soon as reasonably practical and in any event within such time as will enable Canadian Natural
                                            to comply with applicable Securities Laws and this Schedule, the Relevant Dealers shall advise
                                            Canadian Natural of the amount of Medium Term Notes sold in each Jurisdiction in order to
                                            enable Canadian Natural to deliver the Pricing Supplement and associated fees to the securities
                                            regulatory authorities of such Jurisdictions in compliance with applicable Securities Laws.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 32; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt"><B>C.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Certificated
                                            Notes</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            Relevant Dealers shall verbally advise Canadian Natural of so much of the following information
                                            as is available immediately following the acceptance of any offer by the Relevant Dealers
                                            acting as agents on behalf of Canadian Natural:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">exact
                                            names of the persons (the &ldquo;<B>Registered Owners</B>&rdquo;) in favour of whom the Certificated
                                            Notes are to be registered;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">exact
                                            address of each Registered Owner and address for payment of principal and interest;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">splits;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">delivery
                                            locations, being all or some of the principal offices of the Trustee in Montreal, Toronto,
                                            Winnipeg, Calgary and Vancouver;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(e)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">taxpayer
                                            identification number of each Registered Owner; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">The information
specified in sub-paragraphs B(2)(b), (c), (d), (e), (f), (g), (h), (i), (j), (k), (1)&nbsp;and (m)&nbsp;above (with any reference therein
 &ldquo;Book-Entry Interest&rdquo; or &ldquo;Global Note&rdquo; replaced by &ldquo;<B>Certificated Note</B>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">That
                                            portion of the information referred to in paragraph C(1)&nbsp;above that is necessary in
                                            order to prepare a Pricing Supplement, that is, the information referred to in subparagraphs
                                            B(2)(b), (c), (d), (e), (f), (g), (h), (j)&nbsp;and (m)&nbsp;(with any reference therein
                                            to &ldquo;Book-Entry Interest&rdquo; or &ldquo;Global Note&rdquo; replaced by &ldquo;<B>Certificated
                                            Note</B>&rdquo;), shall be confirmed by electronic mail by the Relevant Dealers to Canadian
                                            Natural by 5:00 p.m.&nbsp;on the Trade Date. The remainder, if any, of the information referred
                                            to in paragraph C(l)&nbsp;above shall be supplied by the Relevant Dealers to Canadian Natural
                                            by electronic mail no later than 11:00 a.m.&nbsp;on the second Business Day prior to the
                                            Closing Date.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">As
                                            soon as practicable after ISINs have been made eligible and in any event prior to the Closing
                                            Date, Canadian Natural shall prepare and forward a copy of the requisite BEO Acknowledgment
                                            Form&nbsp;to the office of CDS in electronic form, with a copy to the Calgary office of CDS
                                            by fax or email.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">By
                                            2:00 p.m.&nbsp;on the Business Day prior to the Closing Date, Canadian Natural shall forward
                                            to the Relevant Dealers a Pricing Supplement, which shall include identification of the CUSIP
                                            number. By the end of the Business Day prior to the Closing Date, the Relevant Dealers shall
                                            deliver the Prospectus and any amendments (including the Pricing Supplement) to the purchasers
                                            of the Certificated Notes as of the Closing Date, provided that Canadian Natural has previously
                                            delivered the applicable Pricing Supplement to the Relevant Dealers.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">By
                                            5:00 p.m.&nbsp;on the Business Day prior to the Closing Date, Canadian Natural shall deliver
                                            to the Trustee a &ldquo;Written Order of the Corporation&rdquo; requesting the certification
                                            and delivery of Certificated Notes in the form prescribed by the Principal Indenture; such
                                            &ldquo;Written Order of the Corporation&rdquo; shall specify the Registered Owners as owners,
                                            the delivery locations of the Certificated Notes as specified in sub-paragraph C(1)(d)&nbsp;above
                                            and shall also specify the date of issue, principal amount, currency, maturity date, interest
                                            rate (if any), manner of calculation of interest (if any) and redemption provisions (if any).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            Trustee shall authenticate the Certificated Notes and deliver them to the foregoing delivery
                                            locations prior to the Closing Time.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 33; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">7.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">At
                                            8:00 a.m.&nbsp;on the Closing Date (the &ldquo;<B>Closing Time</B>&rdquo;), the Relevant
                                            Dealers shall deliver to Canadian Natural the purchase price of the Medium Term Notes net
                                            of the commission to the Relevant Dealers.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">Payment
of the purchase price for the Medium Term Notes shall be made by (a)&nbsp;in the case of payment in cash, wire transfer to a bank account
previously designated by Canadian Natural and such transfer shall be evidenced by an email from the Relevant Dealers to Canadian Natural
quoting the reference number, as provided by the initiating bank, of the particular electronic funds transfer, and/or (b)&nbsp;in the
case of payment in outstanding securities or other non-cash assets, in a manner agreed as between Canadian Natural and the Relevant Dealers.
If the Relevant Dealers do not provide the foregoing reference number for a wire transfer by 9:00 a.m.&nbsp;on the Closing Date, then
in Canadian Natural&rsquo;s sole discretion the transaction shall not close until the next Business Day and Canadian Natural shall be
compensated by the Relevant Dealers for its cost of funds incurred as a result of the delay in closing, as such amount is determined
by Canadian Natural, acting reasonably, for the period from but not including the scheduled Closing Date to and including the date that
the transaction closes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">8.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Upon
                                            receipt of payment as provided in paragraph C(7), Canadian Natural shall instruct the Trustee
                                            to make the Certificated Notes available to the Registered Owners or their representatives
                                            at the locations specified in sub-paragraph C(1)(d)&nbsp;above.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">9.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            Relevant Dealers shall confirm the purchase of the Certificated Notes to the purchasers thereof
                                            by mailing a written confirmation to each such purchaser.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">10.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">If
                                            the Closing Date is rescheduled or cancelled, Canadian Natural shall deliver to the Trustee
                                            a cancellation message to such effect as soon as possible and by no later than 9:00 a.m.&nbsp;on
                                            the Closing Date.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">11.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">As
                                            soon as reasonably practical and in any event within such time as will enable Canadian Natural
                                            to comply with applicable Securities Laws and this Schedule, the Relevant Dealers shall advise
                                            Canadian Natural of the amount of Medium Term Notes sold in each Jurisdiction in order to
                                            enable Canadian Natural to deliver the Pricing Supplement and associated fees to the securities
                                            regulatory authorities of such Jurisdictions in compliance with applicable Securities Laws.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 34; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>SCHEDULE C</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Underwriting
Addendum</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">[Date]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian Natural
Resources Limited</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Suite&nbsp;2100,
Bankers Hall East</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">855 &ndash; 2nd
Street S.W.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Calgary, AB T2P
4J8</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Dear Sirs:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We refer to the dealer agreement dated August
28, 2025 (the &ldquo;<B>Dealer Agreement</B>&rdquo;) among Canadian Natural Resources Limited, (&ldquo;<B>Canadian Natural</B>&rdquo;)
and the undersigned (the &ldquo;<B>Underwriters</B>&rdquo;) <B>[and name any other parties to the Dealer Agreement that are not Underwriters]</B>.
Terms which are defined in the Dealer Agreement and its applicable schedules have the same meaning herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Underwriters
understand that Canadian Natural proposes to issue $&#9679; principal amount of Medium Term Notes (the &ldquo;<B>Offered Notes</B>&rdquo;)
having the following attributes:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">Issue Date:</TD>
    <TD STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif">&#9679;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">Maturity Date:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">Interest Rate:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;% per annum</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">Interest Payment Dates:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#9679; and &#9679;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">Initial Interest Payment Date:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">Redemption Provisions:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 1in">Other:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">As described in the Prospectus.</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Subject to the
terms and conditions of the Dealer Agreement, as supplemented or modified by the terms and conditions hereof, the Underwriters hereby
offer to purchase from Canadian Natural, and by its acceptance hereof Canadian Natural agrees to sell to the Underwriters, at <B>[specify
date and time]</B> (the &ldquo;<B>Closing Time</B>&rdquo;), all but not less than all of the Offered Notes at a purchase price (the &ldquo;<B>Purchase
Price</B>&rdquo;) equal to &#9679;% of the principal amount thereof <B>[, plus accrued interest, if any, from</B>&#9679;<B>, </B>&#9679;
<B>to the date of delivery of the Offered Notes]</B>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">The percentage
of the principal amount of the Offered Notes which each of the Underwriters shall be severally obligated to purchase is as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">ATB Securities Inc.</TD>
    <TD STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif">&#9679;%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">BMO Nesbitt Burns Inc.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">CIBC World Markets Inc.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">Desjardins Securities Inc.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">Merrill Lynch Canada Inc.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">Mizuho Securities Canada Inc.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">MUFG Securities (Canada),&nbsp;Ltd.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">National Bank Financial Inc.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">RBC Dominion Securities Inc.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">Scotia Capital Inc.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">SMBC Nikko Securities Canada,&nbsp;Ltd.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1in">TD Securities Inc.</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;%</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">In consideration
of the agreement of the Underwriters to purchase the Offered Notes and the services rendered and to be rendered by the Underwriters in
connection herewith, Canadian Natural agrees to pay the Underwriters at the Closing Time an aggregate fee (the &ldquo;<B>Underwriting
Fee</B>&rdquo;) of &#9679;% of the principal amount of the Offered Notes. For greater certainty, the services rendered by the Underwriters
shall not be subject to any Goods and Services Tax provided for in the <I>Excise Tax Act</I> (Canada) because any taxable supplies provided
shall be incidental to the exempt financial services provided.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 35; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">C-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">For greater certainty,
Canadian Natural and the Underwriters shall follow the Operating Procedures described in Schedule B to the Dealer Agreement applicable
to <B>[Global Notes] [Certificated Notes]</B>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">In the event of
any inconsistency between this Underwriting Addendum and the Dealer Agreement, this Underwriting Addendum shall govern.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">This offer and
the agreement resulting from the acceptance by Canadian Natural of this offer may be executed in several counterparts, each of which
when so executed shall be deemed to be an original and such counterparts together shall constitute one and the same agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">If the foregoing
is acceptable to Canadian Natural, please signify such acceptance on the duplicates of this letter and return such duplicates to <B>[insert
name of Dealer]</B>, which accepted offer, with the Dealer Agreement, shall constitute the contract for the purchase by the Underwriters
and the sale by Canadian Natural of the Offered Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Yours truly,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Accepted this &#9679;
day of&#9679;,&#9679;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif">CANADIAN NATURAL RESOURCES LIMITED</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 35%">&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</TD>
    <TD STYLE="font-size: 10pt; width: 60%">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 36; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">C-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>SCHEDULE D</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Due Diligence
Review Process for the Medium Term Note Program</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Quarterly Review with Senior Management</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">After
receiving and reviewing each of the quarterly unaudited financial statements for Canadian Natural, representatives of each of the Dealers
and Dealers&rsquo; Counsel may, at the option of the Dealers, meet with one or more members of the senior management of Canadian Natural
and its counsel to conduct an updated due diligence session with respect to the affairs of Canadian Natural. This meeting may take the
form of a conference call. Prior to the foregoing quarterly due diligence session, Dealers&rsquo; Counsel shall review the minutes of
the directors, shareholders, executive and audit committee meetings for each such quarter. These documents shall be provided to Dealers&rsquo;
Counsel by in-house legal counsel for Canadian Natural and such counsel shall be available to answer questions regarding these documents.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Annual Review for Canadian Natural&rsquo;s
Annual Information Form&nbsp;and Annual Report</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The
Dealers may request a draft of Canadian Natural&rsquo;s annual information form, annual management discussion&nbsp;&amp; analysis and
consolidated annual financial statements, and, upon such request, Canadian Natural shall supply same. Representatives of each of the
Dealers and Dealers&rsquo; Counsel may, at their option, meet with members of the senior management of Canadian Natural and its counsel
to conduct an annual due diligence review in conjunction with the filing of Canadian Natural&rsquo;s annual information form, annual
management discussion&nbsp;&amp; analysis and annual audited financial statements. The Dealers and Dealers&rsquo; Counsel may, at their
option, also meet with the auditors of Canadian Natural to conduct a due diligence review with respect to Canadian Natural&rsquo;s annual
financial information.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Review of Material Change Reports</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">As
soon as possible upon the earlier of the issuance of a press release relating to a material change report or the filing of a material
change report, Canadian Natural shall, if requested by the Dealers, meet with representatives of the Dealers and Dealers&rsquo; Counsel
(which may be by means of a conference call) to discuss the subject matter of the material change report so that the Dealers can be satisfied
that the material change report which will be or has been incorporated by reference into the Prospectus adequately discloses all material
facts relating to the material change.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Review of Material Contracts</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Dealers&rsquo;
Counsel shall be allowed to review all contracts entered into by Canadian Natural prior to or during the term of the Note program which
are of such magnitude or importance as to render their disclosure or discussion in Canadian Natural&rsquo;s next annual information form
necessary, desirable or likely, subject to complying with applicable confidentiality provisions. In-house legal counsel to Canadian Natural
shall be available to answer questions regarding these contracts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Credit Ratings</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Canadian
Natural shall promptly notify the Dealers if Canadian Natural becomes aware of a change or proposed change in a credit rating assigned
by a Rating Agency of the Medium Term Notes or of any other debt security of Canadian Natural (excluding any unsolicited ratings).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 37; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">D-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>SCHEDULE E</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>U.S. Selling
Restrictions</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt"><B>A.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Definitions.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">As used
herein, unless the context otherwise requires:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Directed
                                            Selling Efforts</B>&rdquo; means &ldquo;directed selling efforts&rdquo; as that term is defined
                                            in Rule&nbsp;902(c)&nbsp;of Regulation S. Without limiting the foregoing, but for greater
                                            clarity in this Agreement, it means, subject to the exclusions from the definition of &ldquo;directed
                                            selling efforts&rdquo; contained in Regulation S, any activity undertaken for the purpose
                                            of, or that could be reasonably expected to have the effect of, conditioning the market in
                                            the United States for any of the Medium Term Notes, and includes the placement of any advertisement
                                            in a publication &ldquo;with a general circulation in the United States&rdquo; that refers
                                            to the offering of such securities;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Distribution
                                            Compliance Period</B>&rdquo; means a 40-day period that begins on the completion of the distribution
                                            of Medium Term Notes with respect to a particular Trade Date (as defined in Schedule B),
                                            as determined and certified by the managing underwriter or person performing similar functions,
                                            except that all offers and sales by a Dealer, a member of the Selling Dealer Group, or any
                                            other person that participates in the distribution of an unsold allotment of the Medium Term
                                            Notes shall be deemed to be made during the Distribution Compliance Period;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Foreign
                                            Issuer</B>&rdquo; means a &ldquo;foreign issuer&rdquo; as that term is defined in Rule&nbsp;902(e)&nbsp;of
                                            Regulation S;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>General
                                            Solicitation</B>&rdquo; and &ldquo;<B>General Advertising</B>&rdquo; mean &ldquo;general
                                            solicitation and &ldquo;general advertising&rdquo;, respectively, as used in Rule&nbsp;502(c)&nbsp;under
                                            the U.S. Securities Act, including advertisements, articles, notices or other communications
                                            published in any newspaper, magazine or similar media or broadcast over radio or television
                                            or the Internet, or any seminar or meeting whose attendees had been invited by general solicitation
                                            or general advertising;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Qualified
                                            Institutional Buyer</B>&rdquo; has the meaning attributed thereto in Rule&nbsp;144A;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Regulation
                                            D</B>&rdquo; means Regulation D promulgated under the U.S. Securities Act;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">7.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Regulation
                                            S</B>&rdquo; means Regulation S promulgated under the U.S. Securities Act;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">8.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Rule&nbsp;144A</B>&rdquo;
                                            means Rule&nbsp;144A promulgated under the U.S. Securities Act;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">9.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>SEC</B>&rdquo;
                                            means the United States Securities and Exchange Commission;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">10.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>Selling
                                            Dealer Group</B>&rdquo; means the dealers and brokers other than the Dealers who participate
                                            in the offer and sale of the Medium Term Notes pursuant to the Agreement;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">11.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>United
                                            States</B>&rdquo; means the United States of America, its territories and possessions, any
                                            state of the United States and the District of Columbia;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">12.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>U.S.
                                            Exchange Act</B>&rdquo; means the United States <I>Securities Exchange Act of 1934</I>, as
                                            amended;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">13.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>U.S.
                                            Person</B>&rdquo; means a U.S. person as that term is defined in Rule&nbsp;902(k)&nbsp;of
                                            Regulation S; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">14.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>U.S.
                                            Securities Act</B>&rdquo; means the United States <I>Securities Act of 1933</I>, as amended.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 38; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">E-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt"><B>B.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>U.S.
                                            Securities Act.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">The parties
hereto acknowledge and agree that the Medium Term Notes have not been and shall not be registered under the U.S. Securities Act and may
not be offered or sold within the United States or to or for the account or benefit of a U.S. Person, except in certain transactions
exempt from the registration requirements of the U.S. Securities Act pursuant to the exemption from registration provided by Rule&nbsp;144A.
The Dealers shall obtain the agreement of Canadian Natural prior to the offer and sale of any Medium Term Notes hereunder in the United
States or to or for the account or benefit of a U.S. Person, each of such offers and sales being effected pursuant to the exemption from
registration provided by Rule&nbsp;144A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt"><B>C.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Representations,
                                            Warranties and Covenants of Canadian Natural</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
Natural represents, warrants, covenants and agrees to and with the Dealers that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural is a Foreign Issuer;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Except
                                            with respect to securities offered and sold to the Dealers for resale to Qualified Institutional
                                            Buyers pursuant to Rule&nbsp;144A, neither Canadian Natural nor any of its affiliates, nor
                                            any person acting on its or their behalf, has made or shall make:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">any
                                            offer to sell, any solicitation to buy, or any sale of the Medium Term Notes in the United
                                            States or to or for the account or benefit of a U.S. Person; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">any
                                            other sale of the Medium Term Notes, unless, at the time the buy order was or shall have
                                            been originated, (A)&nbsp;the purchaser is or was outside the United States or (B)&nbsp;Canadian
                                            Natural, its affiliates and any person acting on its or their behalf reasonably believe that
                                            the purchaser is or was outside the United States;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">None
                                            of Canadian Natural, its affiliates or any person acting on its or their behalf has engaged
                                            or shall engage in any Directed Selling Efforts in the United States, has offered or shall
                                            offer to sell the Medium Term Notes by means of any form of General Solicitation or General
                                            Advertising or in any manner involving a public offering within the meaning of Section&nbsp;4(a)(2)&nbsp;of
                                            the U.S. Securities Act, or has taken or shall take any action that would cause the exclusions
                                            or exemptions from registration afforded by Regulation S and Rule&nbsp;144A to be unavailable
                                            for offers and sale of the Medium Term Notes offered pursuant to this Agreement;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">All
                                            offering materials and documents (other than press releases) used in connection with offers
                                            and sales of the Medium Term Notes prior to the expiration of the Distribution Compliance
                                            Period include, or will include, statements to the effect that the Medium Term Notes have
                                            not been registered under the U.S. Securities Act and may not be offered or sold in the United
                                            States or to or for the account or benefit of U.S. Persons unless the Medium Term Notes are
                                            registered under the U.S. Securities Act or an exemption from the registration requirements
                                            of the U.S. Securities Act is available. Such statements have appeared, or will appear, (i)&nbsp;on
                                            the cover or inside cover page&nbsp;of any prospectus or offering circular; (ii)&nbsp;in
                                            the underwriting section of any prospectus or offering circular; and (iii)&nbsp;in any advertisement
                                            made or issued by Canadian Natural, any of its affiliates or any person acting on its or
                                            their behalf (other than the Dealers, their respective affiliates, or any person acting on
                                            any of their behalf, in respect of which no representation is made);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian
                                            Natural is not required to register as an &ldquo;investment company&rdquo; under the United
                                            States <I>Investment Company Act of 1940</I>, as amended;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            Medium Term Notes shall satisfy the requirements set forth in Rule&nbsp;144A(d)(3)&nbsp;promulgated
                                            under the U.S. Securities Act;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 39; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">E-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">7.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">If
                                            the Dealers obtain the agreement of Canadian Natural to offer and sell any Medium Term Notes
                                            hereunder in the United States or to or for the account or benefit of a U.S. Person, in connection
                                            therewith, Canadian Natural shall prepare and furnish to the Dealers a U.S. private placement
                                            memorandum (the &ldquo;<B>U.S. Placement Memorandum</B>&rdquo;) pursuant to which each purchaser
                                            shall be deemed to have represented and warranted for the benefit of Canadian Natural and
                                            the Dealers that:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">it
                                            is authorized to purchase the Medium Term Notes and it is a Qualified Institutional Buyer
                                            and acknowledges that the sale of Medium Term Notes to it is being made in reliance on Rule&nbsp;144A,
                                            and it is acquiring such Medium Term Notes for its own account or for the account of one
                                            or more Qualified Institutional Buyers with respect to which it exercises sole investment
                                            discretion and not with a view to any resale, distribution or other disposition of the Medium
                                            Term Notes in violation of United States federal or state securities laws;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">it
                                            understands and acknowledges that the Medium Term Notes will not be and have not been registered
                                            under the U.S. Securities Act or the securities laws of any state of the United States, and
                                            are therefore &ldquo;restricted securities&rdquo; within the meaning of Rule&nbsp;144, and
                                            that if in the future it shall decide to resell, pledge or otherwise transfer such Medium
                                            Term Notes, the same may be resold, pledged or otherwise transferred only (A)&nbsp;to Canadian
                                            Natural, (B)&nbsp;in the United States, in accordance with Rule&nbsp;144A to a person it
                                            reasonably believes is a Qualified Institutional Buyer that purchases for its own account
                                            or for the account of a Qualified Institutional Buyer and to whom notice is given that the
                                            offer, sale or transfer is being made in reliance on Rule&nbsp;144A, (C)&nbsp;outside the
                                            United States, in accordance with Rule&nbsp;904 of Regulation S and in compliance with applicable
                                            local laws and regulations, (D)&nbsp;in a transaction exempt from registration under the
                                            U.S. Securities Act pursuant to Rule&nbsp;144 and in compliance with any applicable state
                                            securities laws of the United States, or (E)&nbsp;in a transaction that does not require
                                            registration under the U.S. Securities Act or any applicable United States state securities
                                            laws, and, in each case, it has furnished to Canadian Natural an opinion of counsel of recognized
                                            standing or other evidence reasonably satisfactory to Canadian Natural to that effect;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">it
                                            understands that all Medium Term Notes sold in the United States as part of this offering
                                            will bear a legend to the following effect for so long as required by applicable law:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">THE SECURITIES
REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;<B>U.S. SECURITIES
ACT</B>&rdquo;) OR STATE SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES FOR THE BENEFIT OF CANADIAN NATURAL
RESOURCES LIMITED THAT SUCH SECURITIES MAY&nbsp;BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (A)&nbsp;TO CANADIAN NATURAL RESOURCES
LIMITED, (B)&nbsp;OUTSIDE THE UNITED STATES IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES ACT, (C)&nbsp;INSIDE
THE UNITED STATES IN ACCORDANCE WITH RULE 144A UNDER THE U.S. SECURITIES ACT, (D)&nbsp;PURSUANT TO THE EXEMPTION FROM REGISTRATION UNDER
THE U.S. SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER, OR (E)&nbsp;PURSUANT TO ANOTHER EXEMPTION FROM REGISTRATION AFTER,&nbsp;IN EACH
CASE, PROVIDING A LEGAL OPINION OR OTHER EVIDENCE SATISFACTORY TO CANADIAN NATURAL RESOURCES LIMITED.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">A NEW CERTIFICATE
BEARING NO LEGEND MAY&nbsp;BE OBTAINED FROM COMPUTERSHARE TRUST COMPANY OF CANADA UPON DELIVERY OF THIS CERTIFICATE AND A DULY EXECUTED
DECLARATION,&nbsp;IN A FORM&nbsp;SATISFACTORY TO COMPUTERSHARE TRUST COMPANY OF CANADA AND CANADIAN NATURAL RESOURCES LIMITED, TO THE
EFFECT THAT THE SALE OF THE SECURITIES REPRESENTED HEREBY IS BEING MADE IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES
ACT.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 40; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">E-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">provided
that if the Medium Term Notes are being sold in compliance with the requirements of Rule&nbsp;904 of Regulation S, the legend may be
removed by providing a declaration to Computershare Trust Company of Canada to the following effect (or as Canadian Natural may prescribe
from time to time):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;The undersigned
(A)&nbsp;acknowledges that the sale of the securities to which this declaration relates is being made in reliance on Rule&nbsp;904 of
Regulation S under the U.S. Securities Act of 1933, as amended, (the &ldquo;U.S. Securities Act&rdquo;) and (B)&nbsp;certifies that (1)&nbsp;it
is not an &ldquo;affiliate&rdquo; (as defined in Rule&nbsp;405 under the U.S. Securities Act) of Canadian Natural Resources Limited;
(2)&nbsp;the offer of such securities was not made to a person in the United States and either (a)&nbsp;at the time the buy order was
originated, the buyer was outside the United States, or the seller and any person acting on its behalf reasonably believe that the buyer
was outside the United States or (b)&nbsp;the transaction was executed on or through the facilities of The Toronto Stock Exchange and
neither the seller nor any person acting on its behalf knows that the transaction has been prearranged with a buyer in the United States;
(3)&nbsp;neither the seller nor any person acting on its behalf engaged in any directed selling efforts in connection with the offer
and sale of such securities; (4)&nbsp;the sale is bona fide and not for the purpose of &ldquo;washing off&rsquo; the resale restrictions
imposed because the securities are &ldquo;restricted securities&rdquo; (as that term is defined in Rule&nbsp;144(a)(3)&nbsp;promulgated
under the U.S. Securities Act); (5)&nbsp;the seller does not intend to replace the securities sold in reliance on Rule&nbsp;904 of Regulation
S with fungible unrestricted securities; and (6)&nbsp;the contemplated sale is not a transaction, or part of a series of transactions
which, although in technical compliance with Regulation S is part of a plan or scheme to evade the registration provisions of the U.S.
Securities Act. Terms used herein have the meanings given to them by Regulation S&rdquo;;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">provided,
further, that if the Medium Term Notes are being sold under Rule&nbsp;144 of the U.S. Securities Act, the legend may be removed by delivery
to Computershare Trust Company of Canada of an opinion of counsel of recognized standing and reasonably satisfactory to Canadian Natural,
to the effect that such legend is no longer required under the U.S. Securities Act or state securities laws;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">it
                                            acknowledges that it has not purchased the Medium Term Notes as a result of any General Solicitation
                                            or General Advertising, including advertisements, articles, notices or other communications
                                            published in any newspaper, magazine or similar media, or broadcast over radio or television,
                                            or any seminar or meeting whose attendees have been invited by General Solicitation or General
                                            Advertising;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(e)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">it
                                            consents to Canadian Natural making a notation on its records or giving instructions to any
                                            transfer agent or trustee for the Medium Term Notes in order to implement the restrictions
                                            on transfer set out herein; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 41; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">E-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(f)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">it
                                            understands and acknowledges that it is making the representations and warranties and agreements
                                            contained herein with the intent that they may be relied upon by Canadian Natural and the
                                            Dealers in determining its eligibility or (if applicable) the eligibility of others on whose
                                            behalf it is contracting hereunder to purchase the Medium Term Notes; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">8.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">So
                                            long as any Medium Term Notes which have been sold in the United States in reliance upon
                                            Rule&nbsp;144A are outstanding and are &ldquo;restricted securities&rdquo; within the meaning
                                            of Rule&nbsp;144(a)(3)&nbsp;under the U.S. Securities Act, Canadian Natural shall either:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">avail
                                            itself of the exemption provided by Rule&nbsp;12g3-2(b)&nbsp;under the U.S. Exchange Act;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">file
                                            reports and other information with the SEC under Section&nbsp;13 or 15(d)&nbsp;of the U.S.
                                            Exchange Act; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">furnish
                                            to any holder of the Medium Term Notes and any prospective purchaser of the Medium Term Notes
                                            designated by such holder, upon request of such holder, the information required to be delivered
                                            pursuant to Rule&nbsp;144A(d)(4)&nbsp;under the U.S. Securities Act (so long as such requirement
                                            is necessary in order to permit holders of the Medium Term Notes to effect resales under
                                            Rule&nbsp;144A).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt"><B>D.</B></FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Representations,
                                            Warranties and Covenants of the Dealers</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">Each
Dealer severally but not jointly represents, warrants, covenants and agrees to and with Canadian Natural that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            Dealer has not offered or sold, and shall not offer to sell, any of the Medium Term Notes
                                            except (i)&nbsp;in an offshore transaction in accordance with Rule&nbsp;903 of Regulation
                                            S or (ii)&nbsp;within the United States in accordance with Rule&nbsp;144A as provided below.
                                            Accordingly, none of the Dealer, its affiliates nor any persons acting on its or their behalf
                                            (except to the extent that resales to Qualified Institutional Buyers in the United States
                                            are permitted) has made or shall make (i)&nbsp;any offer to sell or any solicitation of an
                                            offer to buy any Medium Term Notes in the United States, or to or for the account or benefit
                                            of a U.S. Person, (ii)&nbsp;any sale of such securities to any purchaser unless, at the time
                                            the buy order was or shall have been originated, the purchaser was outside the United States,
                                            or such Dealer, affiliate or person acting on its or their behalf reasonably believe that
                                            such purchaser was outside the United States, or (iii)&nbsp;any Directed Selling Efforts
                                            in the United States with respect to the Medium Term Notes;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            Dealer has not entered and shall not enter into any contractual arrangement with respect
                                            to the distribution of the Medium Term Notes in the United States, except with its affiliates,
                                            any Selling Firm or with the prior written consent of Canadian Natural;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            Dealer shall require its affiliates and each member of the Selling Dealer Group to agree,
                                            for the benefit of Canadian Natural, to comply with, and shall use its best efforts to ensure
                                            that each member of the Selling Dealer Group complies with, the provisions of this Schedule
                                            E as if such provisions applied to such affiliate or member of the Selling Dealer Group;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            Dealer will not offer or sell any Medium Term Notes prior to the expiration of the Distribution
                                            Compliance Period (whether or not part of its unsold allotment), except in accordance with
                                            the provisions of Rule&nbsp;903 or Rule&nbsp;904 of Regulation S, as applicable, pursuant
                                            to registration of the Medium Term Notes under the U.S. Securities Act or pursuant to an
                                            available exemption from the registration requirements of the U.S. Securities Act;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            Dealer shall send to each affiliate, Selling Firm or other person receiving a selling concession,
                                            fee or other remuneration to which it sells Medium Term Notes during the Distribution Compliance
                                            Period a confirmation or other notice setting forth the restrictions on offers and sales
                                            of such securities in the United States or to or for the account or benefit of a U.S. Person
                                            in compliance with Rule&nbsp;903(b)(2)&nbsp;of Regulation S;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 42; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">E-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            Dealer has reasonable grounds to believe and does believe that each offeree and each purchaser
                                            of Medium Term Notes in the United States is, or is acting for the account or benefit of,
                                            a U.S. Person that is a Qualified Institutional Buyer;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">7.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Neither
                                            the Dealer nor any of its affiliates or persons acting on its and their behalf has offered
                                            or sold or shall offer to sell, any of the Medium Term Notes except in accordance with all
                                            applicable United States state securities laws and all applicable U.S. broker-dealer requirements;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">8.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            Dealer shall not, either directly or through any of its affiliates, solicit offers for, or
                                            offer to sell, the Medium Term Notes in the United States by means of any form of General
                                            Solicitation or General Advertising or in any manner involving a public offering within the
                                            meaning of Section&nbsp;4(a)(2)&nbsp;of the U.S. Securities Act;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">9.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            Dealer and members of the Selling Dealer Group shall solicit (and shall cause its affiliates
                                            to solicit) offers for the Medium Term Notes in the United States only from, and shall offer
                                            the Medium Term Notes only to, persons who they reasonably believe to be Qualified Institutional
                                            Buyers in transactions meeting the requirements of Rule&nbsp;144A and in compliance with
                                            any applicable state securities laws of the United States, provided that prior to any such
                                            sale the Dealer shall provide to each such purchaser a copy of the U.S. Placement Memorandum;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">10.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            Dealer shall inform (and cause its affiliates offering or selling Medium Term Notes to inform)
                                            all purchasers of the Medium Term Notes in the United States that the Medium Term Notes have
                                            not been and shall not be registered under the U.S. Securities Act and are being sold to
                                            them without registration under the U.S. Securities Act in reliance on Rule&nbsp;144A thereunder;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">11.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            private placement memorandum for the offering of the Medium Term Notes in the United States
                                            shall contain disclosure in form and substance satisfactory both to Canadian Natural and
                                            the Dealers;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">12.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Each
                                            Dealer shall deliver, through its United States affiliate, a copy of a private placement
                                            memorandum for the U.S. offering and the prospectus to each person in the United States purchasing
                                            Medium Term Notes from it;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">13.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">At
                                            the closing of the sale of any particular Medium Term Note, the Dealer, together with its
                                            United States affiliate, if it has offered or sold Medium Term Notes in the United States,
                                            shall deliver a certificate, in customary form and substance reasonably satisfactory to Canadian
                                            Natural, relating to the manner of the offer and sale in the United States of the Medium
                                            Term Notes;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">14.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Any
                                            Medium Term Notes sold in the United States or to or for the account or benefit of a U.S.
                                            Person shall first be purchased by the Dealer (or its United States affiliate) as principal
                                            and resold in the United States in accordance with the provisions of this Schedule E. The
                                            Dealer (or its United States affiliate) shall purchase, pursuant to this Schedule E, only
                                            those Medium Term Notes in respect of which it has received buy orders in the United States
                                            by Qualified Institutional Buyers and payment for the purchased Medium Term Notes, it being
                                            the intention of the parties that the Dealer (or its United States affiliate) or any member
                                            of the Selling Dealer Group purchase and sell such Medium Term Notes in a &ldquo;riskless
                                            principal transaction&rdquo; as that term is defined in paragraph (a)(5)&nbsp;of Rule&nbsp;144A;
                                            and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.5in"><FONT STYLE="font-size: 10pt">15.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Each
                                            United States affiliate of a Dealer that has or shall have offered or offer, sold or sell
                                            Medium Term Notes in the United States is a duly registered broker-dealer with the SEC, and
                                            is a member of, and in good standing with, the Financial Industry Regulatory Authority,&nbsp;Inc.
                                            on the date such representation is made.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 43; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">E-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
