Obsidian Energy Announces Date of First Quarter 2025 Results and AGSM Webcast

Calgary, Alberta–( April 30, 2025) – OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) expects to release our first quarter 2025 financial and operational results (the “Release“) before North American markets open on Wednesday, May 7, 2025. In addition, the first quarter management’s discussion and analysis and the unaudited consolidated financial statements will be available on our website at www.obsidianenergy.com, and under our SEDAR+ profile at www.sedarplus.ca and EDGAR profile at www.sec.gov on or about the same date.

OBE Announces Date of Q1 2025 Results and AGSM Webcast

ANNUAL AND SPECIAL MEETING

The Company’s Annual and Special Meeting (the “Meeting“) is scheduled for Wednesday, May 7, 2025, at 1:00 p.m. MT (3:00 p.m. ET) at the offices of Obsidian Energy, Suite 200, 207 – 9 Avenue SW, Calgary, Alberta. Access to the Meeting will, subject to Company’s by-laws, be limited to essential personnel, registered shareholders and proxyholders entitled to attend and vote at the Meeting as well as invited guests. Additional information about the Meeting can be found on our website.

In association with the Meeting, our President and CEO, Stephen Loukas and other members of management will host a webcast presentation after the formal portion of the meeting at 2:00 p.m. MT (4:00 pm ET) (the “Presentation“).

The Presentation will be broadcast live on the Internet and may be accessed either through our website or directly at the webcast portal. Those who wish to listen to the Presentation should connect at least five to 10 minutes prior to the scheduled start time through the following numbers:

Canada/U.S.: 1-844-763-8274 (toll-free)
International: 1-647-484-8814

A question-and-answer session will be held following the Presentation. If you wish to submit a question to the Company, participants can do so ahead of time after registering on the webcast portal on the Intranet or by emailing questions to investor.relations@obsidianenergy.com. An updated corporate presentation and the Presentation will be available following the webcast on our website.

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