Mr. Brian Bagnell reports

ADVANTAGE ANNOUNCES CLOSING OF WEMBLEY DISPOSITION

Advantage Energy Ltd. has completed the previously announced sale of its assets in the Wembley area of Alberta for gross cash proceeds of $316-million, prior to closing adjustments. The transaction closed earlier than the timing anticipated in Advantage's Aug. 26, 2026, press release following satisfaction of all regulatory requirements and other closing conditions.

The sale crystallizes significant value from a high-quality asset and provides Advantage with substantial financial and strategic flexibility. Proceeds from the transaction have been applied to reduce bank indebtedness. With the transaction complete, Advantage has resumed significant share repurchases while continuing to prioritize balance sheet strength and disciplined, returns-based capital allocation.

Advantage thanks its employees and the teams involved in completing the transaction efficiently and ahead of the previously anticipated closing timeline.