Mr. Derek Evans reports

PENGROWTH REPORTS LINDBERGH PRODUCTION THAT EXCEEDS FACILITY NAMEPLATE CAPACITY OF 12,500 BBL/D AND CONFIRMS CDN $0.02 CASH DIVIDEND PAYABLE JULY 15, 2015

Pengrowth Energy Corp.'s production from the Lindbergh thermal project now exceeds the project's nameplate capacity of 12,500 barrels per day. With all three well pads now on SAGD (steam-assisted gravity drainage) production, the project is currently producing in excess of 13,000 barrels per day, with an instantaneous steam oil ratio of 1.9. Installation of the remaining downhole electric submersible pumps (ESPs) was completed at the end of May, and all producing wells now have ESPs in place. Production rates from the commercial project continue to increase, tracking the performance of the two pilot well pairs, which have now been on production for over three years and which have been integrated into the commercial project. The project remains on track with continued ramp-up of production expected through the rest of 2015, ultimately achieving production rates of 16,000 bbl per day by the end of the year.

In addition, construction and commissioning of the Husky sales line are expected to be completed by the end of June. The completion of the sales line will provide additional transportation/marketing optionality for the company. Pengrowth expects to utilize both pipeline and rail to move production to markets in an effort to maximize revenues and netbacks.

July dividend

Pengrowth also announces that its July 15, 2015, cash dividend will be two cents per common share. The ex dividend date is June 18, 2015. The dividend will be payable to all shareholders who hold Pengrowth shares at the close of business on the record date of June 22, 2015.

The dividend of two cents per common share is equivalent to approximately 1.6 U.S. cents per common share using a Canadian-/U.S.-dollar exchange rate of $1 (Canadian) to 80.4 U.S. cents. The actual U.S.-dollar equivalent of the dividend will be based upon the actual Canadian-/U.S.-dollar exchange rate in effect on the payment date, net of applicable Canadian withholding taxes for U.S. residents who hold their Pengrowth shares in taxable accounts.

The dividend has been designated as an eligible dividend for Canadian income tax purposes. Pengrowth's dividends are also considered qualified dividends for U.S. income tax purposes.

Pengrowth's board of directors and management regularly review the level of dividends. Pengrowth's board considers a number of factors, including expectations of future commodity prices, capital expenditure requirements, and the availability of debt and equity capital. Dividends can and may fluctuate in the future as a result of the volatility in commodity prices, changes in production levels and capital expenditure requirements.

We seek Safe Harbor.