Mr. Jean-Paul Lachance reports

PEYTO EXPLORATION & DEVELOPMENT CORP. CONFIRMS MONTHLY DIVIDEND FOR JUNE 15, 2023

Peyto Exploration & Development Corp.'s monthly dividend with respect to May, 2023, of 11 cents per common share is to be paid on June 15, 2023, for shareholders of record on May 31, 2023.

Dividends paid by Peyto to Canadian residents are eligible dividends for Canadian income tax purposes.

Shareholders and interested investors are encouraged to visit the Peyto website to learn more about what makes Peyto one of North America's most exciting energy companies. The website also includes a monthly report, which discusses various topics chosen by the president and chief executive officer, and includes estimates of monthly capital expenditures and production.

We seek Safe Harbor.