Mr. Derek Evans reports

PENGROWTH RECEIVES CONTINUED LISTING STANDARD NOTIFICATION FROM THE NEW YORK STOCK EXCHANGE REGARDING THE PRICE OF ITS COMMON STOCK

Pengrowth Energy Corp. received notification on Oct. 29, 2015, from the New York Stock Exchange (NYSE) that Pengrowth is no longer in compliance with one of the NYSE's continued listing standards resulting from the average closing price of Pengrowth's common stock being less than $1 (U.S.) per share over a consecutive 30-trading-day period. As of Oct. 28, 2015, the average closing price of Pengrowth's common stock, traded on the NYSE over the preceding consecutive 30-trading-day period, was 99 U.S. cents per share.

Under the NYSE's rules, Pengrowth has a period of six months from the date of the NYSE notification to regain compliance with the NYSE's price listing standard and avoid delisting. Pengrowth can regain compliance if, during the applicable cure period following receipt of the NYSE notification, on the last trading day of any calendar month, Pengrowth's common stock has a closing price of at least $1 (U.S.) per share and a 30-trading-day average closing price of at least $1 (U.S.) per share. Management of Pengrowth will continue to actively monitor the stock price and evaluate all available options to regain compliance with the NYSE's price listing standard within the applicable cure period. If Pengrowth determines to remedy the non-compliance by taking action that requires shareholder approval, then Pengrowth may seek to obtain such shareholder approval at its next annual meeting, which is scheduled to take place more than six months from the date of the NYSE notification. In the event that at the expiration of the applicable cure period, Pengrowth has not regained compliance, the NYSE will commence suspension and delisting procedures.

Pengrowth intends to notify the NYSE of its intent to cure this price deficiency and return to compliance with the NYSE's price listing standard prior to the expiration of the applicable cure period.

Non-compliance with the NYSE's price listing standard does not affect Pengrowth's business operations, nor does it breach or cause an event of default under any of Pengrowth's agreements with its lenders. Pengrowth continues to be in compliance with the terms of all of those agreements. In addition, non-compliance with the NYSE minimum share price listing standard does not affect the continued listing and trading of Pengrowth's common shares on the Toronto Stock Exchange.

Pengrowth's common stock will continue to be listed and traded on the NYSE during the applicable cure period under the symbol PGH, but the NYSE will assign a .BC indicator to the symbol to denote that Pengrowth is below the NYSE's price listing standard. This indicator will be removed at such time as Pengrowth is deemed compliant with the NYSE's price listing standard.

We seek Safe Harbor.