Mr. Shant Madian reports

CRESCENT POINT ANNOUNCES THE CLOSING OF CDN$500 MILLION EQUITY OFFERING

Crescent Point Energy Corp. has completed its previously announced bought-deal public offering of Crescent Point common shares through a syndicate of underwriters co-led by BMO Capital Markets and RBC Capital Markets. Crescent Point issued 48.55 million common shares at a price of $10.30 per common share, for gross proceeds of approximately $500-million.

Crescent Point has also granted the underwriters an overallotment option to purchase, on the same terms and conditions of the offering, up to an additional 15 per cent of the common shares issued in connection with the offering. The overallotment option is exercisable, in whole or in part, by the underwriters at any time (and from time to time) up to and including 30 days after closing of the offering. If the overallotment is fully exercised, the maximum gross proceeds raised under the offering will be approximately $575-million.

Crescent Point intends to use the net proceeds from the offering to partially finance the cash portion of the consideration payable in connection with the acquisition of Hammerhead Energy Inc., an oil-and-liquids-rich Alberta Montney producer, for total consideration of approximately $2.55-billion, which was announced on Nov. 6, 2023. If the transaction is not completed, Crescent Point intends to use the net proceeds from the offering to reduce existing indebtedness, finance future growth opportunities, including acquisitions, finance its capital expenditures or for other general corporate purposes.

The common shares have been offered to the public through the underwriters and their affiliates by way of a prospectus supplement to Crescent Point's short form base shelf prospectus dated Nov. 3, 2023, filed with the securities regulatory authorities in each of the provinces of Canada and included in its registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission (SEC). The offering is made only by the prospectus. The prospectus contains important detailed information about the securities being offered. Before investing, prospective purchasers should read the prospectus supplement, the prospectus and the documents incorporated by reference therein for more complete information about Crescent Point and the offering.

Copies of the prospectus and the prospectus supplement are available free of charge on the SEC website. Alternatively, copies may be obtained upon request in Canada by contacting BMO Nesbitt Burns Inc., Brampton distribution centre, care/of The Data Group of Companies, 9195 Torbram Rd., Brampton, Ont., L6S 6H2, by telephone at 905-791-3151, extension 4312, or by e-mail at torbramwarehouse@datagroup.ca, and in the United States by contacting BMO Capital Markets Corp., attention: equity syndicate department, 151 W 42nd St., 32nd floor, New York, N.Y., 10036, by telephone at 800-414-3627 or by e-mail at bmoprospectus@bmo.com. Additionally, copies of these documents may be obtained upon request in Canada from RBC Capital Markets, attention: distribution centre, RBC Wellington Square, 8th floor, 180 Wellington St. W, Toronto, Ont., M5J 0C2, by phone: 416-842-5349 or by e-mail: Distribution.RBCDS@rbccm.com, and in the United States from RBC Capital Markets LLC, at 200 Vesey St., 8th floor, New York, N.Y., 10281-8098, attention: equity syndicate, by phone: 877-822-4089 or by e-mail: equityprospectus@rbccm.com.

We seek Safe Harbor.