Mr. James Riddell reports

PARAMOUNT RESOURCES LTD. ANNOUNCES OCTOBER DIVIDEND

Paramount Resources Ltd.'s board of directors has declared a cash dividend of 10 cents per common share that will be payable on Oct. 31, 2022, to shareholders of record on Oct. 17, 2022. The dividend will be designated as an eligible dividend for Canadian income tax purposes.

About Paramount Resources Ltd.

Paramount is an independent, publicly traded, liquids-focused Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and predevelopment plays, and holds a portfolio of investments in other entities. The company's principal properties are located in Alberta and British Columbia. Paramount's Class A common shares are listed on the Toronto Stock Exchange under the symbol POU.

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