ARC RESOURCES LTD. ANNOUNCES APPROVAL OF RESOLUTIONS AT ANNUAL AND GENERAL MEETING OF SHAREHOLDERS

CALGARY, AB, May 5, 2023 /CNW/ - (TSX: ARX) ARC Resources Ltd. ("ARC" or the "Corporation") is pleased to announce that its shareholders approved all resolutions at its Annual and General Meeting of Shareholders (the "Meeting") held on May 5, 2023.

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

1.  Resolution to appoint 10 board members, with 91.12 per cent to 99.34 per cent of shares represented at the Meeting voting in favour of individual directors as follows:

2.  Resolution to appoint PricewaterhouseCoopers LLP, Chartered Professional Accountants, as the Corporation's auditors, with 99.75 per cent of the shares represented at the Meeting voting in favour of the resolution.

3.  Resolution to accept the Corporation's approach to executive compensation ("say on pay"), as disclosed in ARC's 2022 Information Circular ? Proxy Statement, with 96.21 per cent of shares represented at the Meeting voting in favour of the advisory resolution.

ARC Resources Ltd. is a pure-play Montney producer and one of Canada's largest dividend-paying energy companies, featuring low-cost operations and leading ESG performance. ARC's investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business. ARC's common shares trade on the Toronto Stock Exchange under the symbol ARX.

Please visit ARC's website at www.arcresources.com or contact Investor Relations:
E-mail: [email protected]
Telephone: (403) 503-8600
Fax: (403) 509-6427
Toll Free: 1-888-272-4900
ARC Resources Ltd.
Suite 1200, 308 - 4 Avenue SW
Calgary, AB  T2P 0H7

SOURCE ARC Resources Ltd.