BOARD OF DIRECTORS

James S. Kinnear

Chairman, Chief Executive Officer and Director

Mr. Kinnear graduated from the University of Toronto in 1969 with a B.Sc. degree, received a C.F.A. designation in 1979 and worked in the securities industry in Toronto and London, England and Montreal where he was a partner in a securities firm. In 1980, Kinnear moved to Calgary and founded Kinnear Financial Limited (KFL) and in 1982 founded Pengrowth Management Limited. In 1988 he created Pengrowth Energy Trust, now called Pengrowth Energy Corporation. Until September 2009, he was the Chairman and Chief Executive Officer of Pengrowth Energy Corporation.

Mr. Kinnear was awarded the Ernst and Young, Prairies Region Entrepreneur of the Year award for 2001; the Alberta Centennial Medal in recognition of outstanding service to the people and province of Alberta (2005); Calgary's Consumers Choice Awards for Businessman of the Year (2006); the Fraser Milner Casgrain Pinnacle Award for entrepreneurship and community service (2007); Alberta Venture's Business Person of the Year (2007); The Paul Harris Fellowship from Rotary International (2008); The Royal Canadian Golf Association Distinguished Service Award (2008) and Honorary Doctorate of Commerce from St. Mary's University, Halifax (2009). He is a member of the Canadian Council of Chief Executives and as the National Benefactor, made the largest single donation to the Duke of Edinburgh's Award Program in Canada. In 2012 Kinnear was awarded the Queen's Diamond Jubilee Medal. Mr. Kinnear is a former member of the Banff Centre Board of Governors, director of the Canadian Olympic Foundation, and the National Arts Centre Foundation Board, director of the Calgary Petroleum Club, and governor of the Oilmen's Golf Tournament. Through Pengrowth Management Limited, Kinnear made a major contribution to the Calgary Flames Hockey organization including the naming rights to the Saddledome from 2000 - 2010. In 2005, he initiated the Pengrowth Nova Scotia Scholarship program which provides scholarships to post secondary students in Nova Scotia. Kinnear was the hosting sponsor for the Kinnear Classic Golf Tournament which raised in excess of $10 million over 20 years for much needed equipment for the Rockyview Hospital. Kinnear also personally made the largest individual donation in the history of The Banff Centre to create The Kinnear Centre for Creativity & Innovation which opened in 2010.

Mr. Kinnear also acts as the President, the Chief Executive Officer and a director of KFL, the Chairman, the Chief Executive Officer and a director of Caledonian GORR ULC, the Chairman, the Chief Executive Officer and a director of CIM, the Chairman, the Chief Executive Officer and a director of CGC and the Chairman and a director of CGL.

Charles V. Selby

President and Director

Mr. Selby holds a Bachelor of Science (Honours) degree in Chemical Engineering from Queen's University and a Juris Doctor degree from the University of Calgary. He is a professional engineer and a member of the Law Society of Alberta. In his early career, Mr. Selby worked as a petroleum engineer in C-42 Canada, the U.S. and Saudi Arabia. He subsequently practiced law with a major Canadian law firm, specializing in securities, oil and natural gas and international financial transactions. Commencing in the early 1990's, Mr. Selby was engaged in the growth and development of a number of companies in the energy business. Mr. Selby was a Vice President of Pengrowth Corporation where he worked closely with Jim Kinnear for almost 20 years. Mr. Selby is also the Chairman and Chief Executive Officer of Montana Exploration Corp., a publicly traded oil and gas company engaged in the business of, exploration for, and development, production and marketing of, petroleum and natural gas in western Canada and Montana. He also sits on the board of NXT Energy Services Corp., a public company that conducts aerial reconnaissance surveys for the oil and gas industry.

Mr. Selby is also the President and a director of CGC, CIM and Caledonian GORR ULC. He is also the Corporate Secretary of KFL and a director of CGL.

Rod McIsaac

Director

Mr. McIsaac holds a Bachelor of Arts (Honours) degree in Economics from the University of Western Ontario and an MBA from the Schulich School of Business at York University. During his career, Rod has held a number of high profile management positions at JP Morgan, SBC Warburg (now UBS) and Scotia Capital. Most recently, Mr. McIsaac was Chairman and CEO of HSBC Securities (Canada), the Canadian investment dealer of one of the world's largest banks. He led HSBC's strategic initiatives in M&A advisory and capital markets using its global expertise to advantage in the Canadian market. Mr. McIsaac is also a member of the Independent Review Committee for the group of retail investment funds managed by Portfolio Strategies Securities Inc. He is committed to continuing education and holds the ICD.D designation from the Institute of Corporate Directors, an organization that promotes the effectiveness of directors. Rod contributes over 30 years of experience in corporate finance and investment banking to the Caledonian team.

Keith Turnbull

Director

Mr. Turnbull is a Chartered Accountant and has been a business consultant since his retirement as a Partner from KPMG on December 31, 2009. Mr. Turnbull has extensive experience in all aspects of public company accounting, finance and management matters, including serving as Office Managing Partner at KPMG's Calgary office, where he was responsible for the strategic direction and growth of the Calgary practice, as well as its audit, tax and advisory business. Mr. Turnbull is a member of the Alberta and Canadian Institute of Chartered Accountants and the Institute of Corporate Directors. Mr. Turnbull is currently a director of Bellatrix Exploration Ltd. and Crown Point Energy Inc. and is a former director of Angle Energy Inc., CE Franklin Ltd., Renegade Petroleum Ltd. and UNX Energy Inc.