Mr. Brian Schmidt reports

TAMARACK VALLEY ENERGY ANNOUNCES BOARD APPOINTMENT OF NEW INDEPENDENT DIRECTOR

Tamarack Valley Energy Ltd. has appointed Shannon Joseph to the company's board of directors, effective Feb. 1, 2024. Ms. Joseph is the chairperson of Energy for a Secure Future, an initiative of Canada's natural gas value chain. Previously she held the position of vice-president of government relations and indigenous affairs at the Canadian Association of Petroleum Producers (CAPP).

Ms. Joseph is a sustainable development and public affairs professional, bringing over 15 years of diversified non-profit and private-sector experience in strategy development, federal, provincial and international government relations, and indigenous relations related to Canada's energy sector and municipalities. She led work related to federal policies, as an advocate for Canada's upstream oil and natural gas industry, in support of initiatives focused on addressing climate change.

A member of the Order of Engineers of Quebec, Ms. Joseph holds a bachelor of engineering from McGill University and a master of applied science in civil engineering from the University of Toronto. Ms. Joseph has served on the boards of directors of the Canadian Environmental Grantmakers Network (now Environmental Funders Canada) and the Energy Council of Canada and was a member of the advisory council for the University of Ottawa's Positive Energy initiative.

Brian (Aakaikkitstaki) Schmidt, president and chief executive officer of Tamarack, commented: "On behalf of the board of directors and executive management team, we are excited to welcome Shannon to our board. We look forward to her expertise and guidance as Tamarack reiterates our commitment to strong governance, strategic execution and stakeholder engagement."

About Tamarack Valley Energy Ltd.

Tamarack is an oil and gas exploration and production company committed to creating long-term value for its shareholders through sustainable free funds flow generation, financial stability and the return of capital. The company has an extensive inventory of low-risk, oil development drilling locations focused primarily on Charlie Lake, Clearwater and EOR (enhanced oil recovery) plays in Alberta. Operating as a responsible corporate citizen is a key focus to ensure the company delivers on its environmental, social and governance (ESG) commitments and goals.