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------- Fold ------- Fold Appointment of Proxyholder I/We being holder(s) of securities of Cardiol Therapeutics Inc. (the “Corporation”) hereby appoint: David Elsley, or failing this person, Chris Waddick (the "Management Nominees") OR Print the name of the person you are appointing if this person is someone other than the Management Nominees listed herein. Note: If completing the appointment box above YOU MUST go to http://www.computershare.com/cardiol and provide Computershare with the name and email address of the person you are appointing. Computershare will use this information ONLY to provide the appointee with a user name to gain entry to the online meeting. as my/our proxyholder with full power of substitution and to attend, act and to vote for and on behalf of the holder in accordance with the following direction (or if no directions have been given, as the proxyholder sees fit) and on all other matters that may properly come before the Annual General Meeting of shareholders of the Corporation to be held online at https:// web.lumiagm.com/452344863 on June 28, 2022 at 4:30 pm, Eastern Time, and at any adjournment or postponement thereof. VOTING RECOMMENDATIONS ARE INDICATED BY HIGHLIGHTED TEXT OVER THE BOXES. 1. Election of Directors 01. David Elsley For Withhold 02. Jennifer Chao For Withhold 03. Michael Willner For Withhold 04. Colin Stott 05. Peter Pekos 06. Dr. Guillermo Torre-Amione 07. Chris Waddick 08. Teri Loxam 2. Appointment of Auditors To appoint BDO Canada LLP, Chartered Professional Accountants, as auditors of the Corporation and to authorize remuneration to be fixed by the Board. For Withhold Signature of Proxyholder I/We authorize you to act in accordance with my/our instructions set out above. I/We hereby revoke any proxy previously given with respect to the Meeting. If no voting instructions are indicated above, and the proxy appoints the Management Nominees, this Proxy will be voted as recommended by Management. Signature(s) Date Interim Financial Statements - Mark this box if you would like to receive Interim Financial Statements and accompanying Management’s Discussion and Analysis by mail. Annual Financial Statements - Mark this box if you would like to receive the Annual Financial Statements and accompanying Management’s Discussion and Analysis by mail. Information Circular - Mark this box if you would like to receive the Information Circular by mail for the next securityholders' meeting. If you are not mailing back your proxy, you may register online to receive the above financial report(s) by mail at www.computershare.com/mailinglist. 3 4 1 7 6 4 A R 1 D T P Q