WOODLAND ANNCR 1

Obsidian Energy has reached an initial agreement with the Woodland Cree First Nation following road blockades. Concerns about lack of communication regarding expansion plans led to the blockades. Extensive discussions between the company and the First Nation, facilitated by a mediator, aimed to achieve a fair agreement. The agreement runs through 2025, with production being restarted. Obsidian Energy has reached an initial agreement with the Woodland Cree First Nation following road blockades initiated in February. The blockades were a result of concerns that Obsidian was not keeping the First Nation informed about its expansion plans on their traditional territory. Stephen Lucas, President and CEO of Obsidian, stated that extensive discussions between the company and the First Nation, facilitated by a mediator, aimed to achieve a fair and mutually beneficial agreement. The agreement between Obsidian Energy and the Woodland Cree runs through the end of 2025. No other terms have been released. Production from the field that had been shut down during the blockade is being restarted. In Woodland Cree First Nation, I'm Brie Boucher.