Pieridae Energy Changes Name to Cavvy Energy

CALGARY, ALBERTA – May 12, 2025 – Cavvy Energy Ltd. (formerly Pieridae Energy Limited) (“Cavvy” or the “Company”) (TSX:PEA) is pleased to announce that the Company has changed its name from Pieridae Energy Limited to Cavvy Energy Ltd., effective May 9, 2025.

The Company first announced its intention to change its name on March 27, 2025 and obtained shareholder approval for the name change at the Company’s Annual and Special Meeting of Shareholders (the “Meeting”) held on May 8, 2025. The Company received approval from the Toronto Stock Exchange (the “TSX”) in respect of the name change and expects that its common shares will begin trading on the TSX under the new name and the ticker symbol “CVVY” as of the open of markets on May 13, 2025.

Following the name change, the Company also completed the previously announced continuance out of the federal jurisdiction of Canada under the Canada Business Corporations Act and into the provincial jurisdiction of Alberta under the Business Corporations Act (Alberta) (the “ABCA”), effective May 9, 2025. As a result of the continuance, the Company now exists under and is governed by the ABCA. Additionally, in connection with the continuance, the Company has adopted new by-laws under the ABCA. The continuance, including the adoption of the new by-laws in connection therewith, was approved by shareholders at the Meeting.

No action is required to be taken by the Company’s shareholders in respect of the name change or the continuance. The Certificate and Articles of Amendment effecting the name change, Certificate and Articles of Continuance effecting the continuance and new by-laws of the Company are available on the Company’s website and under the Company’s SEDAR+ profile at www.sedarplus.ca

About Cavvy Energy

Cavvy Energy is a Canadian energy company headquartered in Calgary, Alberta. The Company is a significant upstream producer and midstream custom processor of natural gas, NGLs, condensate, and sulphur from Western Canada. Cavvy’s vision is to provide responsible, affordable natural gas and derived products to meet society’s energy security needs.

For further information, visit www.cavvyenergy.com, or please contact:

Darcy Reding, President & Chief Executive Officer                Adam Gray, Chief Financial Officer
Telephone: (403) 261‐5900                                                                 Telephone: (403) 261‐5900

Investor Relations
investors@cavvyenergy.com

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