Dividend payments to non-residents of Canada will be subject to withholding taxes at the Canadian statutory rate of 25%.  Shareholders may be entitled to a reduced withholding tax rate under a tax treaty between their country of residence and Canada.  Non-resident registered shareholders must complete and return Form NR301 to TSX Trust Company, Alvopetro’s transfer agent, to be eligible for a reduced withholding tax rate.  Instructions on how to complete the form are included in the link below. 

Access Form NR301 at:  https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/nr301/nr301-13e.pdf

Mail Form NR301 to TSX Trust Company at:

TSX Trust Company
301 - 100 Adelaide Street West
Toronto, Ontario, M5H 4H1

Attn: Investor services (re: Alvopetro)

Non-resident beneficial shareholders who hold their shares through a bank or broker should contact their bank/broker directly to assess withholding tax and eligibility for reduced withholding tax rates under applicable tax treaties with Canada.

Shareholders are advised that the information included herein should not be considered tax advice. All shareholders should consult their own tax advisors with respect to the tax consequences to them of any dividends.