Dividend Reinvestment Plan (DRIP)

Shareholders can choose to receive their dividends either as a cash payment or automatically reinvest their dividends to purchase additional Cenovus shares through the DRIP. Cenovus shares purchased with reinvested cash dividends are acquired in the open market. For more information, see the materials below, contact our transfer and DRIP agent, Computershare Investor Services Inc., or go to the Cenovus Investor Centre.

Shareholders who hold their Cenovus shares directly (registered shareholders) may enrol through our transfer and DRIP agent at the address and telephone number noted below or go to the Cenovus Investor Centre.

Shareholders who hold their shares through a broker, investment dealer, financial institution or other nominee (“Broker”) (beneficial shareholders) may enrol through such Broker. See the exception noted under “Important Notice” below.

DRIP materials

Important notice to U.S. shareholders

The Depository Trust Company (“DTC”) terminated its participation in DRIPs for Canadian securities for all events announced with a record date beyond March 31, 2014. As a result, a U.S. beneficial shareholder who wants to participate in the DRIP must either become a registered shareholder or transfer their shares to a Canadian Broker. Shareholders should note that they may incur costs in connection with effecting such transactions and should consult with their Broker before taking any action.

To become a registered shareholder, U.S. shareholders must contact their U.S. Broker to request that their Cenovus shares be withdrawn from their account and issued in their personal name and address (this changes the shareholder’s status from a beneficial shareholder to a registered shareholder). Upon receiving these instructions, the U.S. Broker will request this withdrawal and issuance of shares via Cenovus’s registrar and transfer agent, Computershare Investor Services Inc. Once the transfer is complete, the new U.S. registered shareholder may enrol with Computershare to participate in the DRIP at the address and telephone number noted below or go to the Cenovus Investor Centre.

To transfer shares to a Canadian Broker, U.S. shareholders must contact their U.S. Broker to request that their Cenovus shares be withdrawn from their U.S. account and deposited with a Canadian Broker. Once deposited with a Canadian Broker, shareholders may enrol through such Canadian Broker.

Please see the below link for the official notice from DTC, including additional information for beneficial holders who want to participate in dividend reinvestment (Document #0064-14):

http://www.dtcc.com/en/legal/important-notices.aspx?q=0064-14&pgs=1

Registrar and Transfer agent

Computershare Investor Services Inc.
100 University Avenue
8th Floor
Toronto, Ontario M5J 2Y1

Telephone: toll-free North America: (866) 332-8898
outside North America: (514) 982-8717