Mr. Brian Ector reports

BAYTEX PROVIDES UPDATE ON THE IMPACT OF THE ALBERTA WILDFIRES

Baytex Energy Corp. is providing an update on the impact of the wildfires in Alberta to its operations.

As a result of the shut-in of third party infrastructure in west-central and northwest Alberta, approximately 10,000 barrels of oil equivalent/day (70 per cent crude oil) of sales volumes have been curtailed since the evening of May 5, 2023. Currently, approximately 60 per cent of the curtailed volumes remain on-line and are producing into inventory. Baytex continues to monitor the situation and will provide an update when appropriate.

Baytex is incredibly proud of how its personnel have responded with sound, safety-focused decision making. The company would like to thank the emergency responders and firefighters who are protecting its communities.

About Baytex Energy Corp.

Baytex Energy is an energy company based in Calgary, Alta. The company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian sedimentary basin and in the Eagle Ford in the United States. Baytex's common shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE.