Mr. James Riddell reports

PARAMOUNT RESOURCES LTD. ANNOUNCES SEPTEMBER DIVIDEND

Paramount Resources Ltd. has declared a cash dividend of 12.5 cents per common share, which will be payable on Sept. 29, 2023, to shareholders of record on Sept. 15, 2023. 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-rich, natural-gas-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.

We seek Safe Harbor.