Partial Redemption of Senior Notes

Obsidian Energy announced that we issued a notice to holders of our 11.95 percent Senior Unsecured Notes due July 27, 2027 (the “Notes”) of our election to redeem, on a pro rata basis, $30.0 million of the $110.8 million aggregate principal amount of the Notes currently outstanding (the “Redemption Notice”), as disclosed in our related news release.  As outlined in the Redemption Notice, the redemption date is August 29, 2025 (the “Redemption Date”) and the Notes will be redeemed based on a redemption price of $1,029.88 per $1,000 principal amount of the redeemed Notes (or 102.988 percent of principal amount), plus accrued and unpaid interest thereon up to, but not including the Redemption Date.

Redemption Notice

Registered holders of the Notes may also obtain a copy of the Redemption Notice from Computershare by telephone at 1-800-564-6253 or email at corporateactions@computershare.com