Mr. Brian Schmidt reports

TAMARACK VALLEY ENERGY ANNOUNCES DECLARATION OF MONTHLY DIVIDEND

Tamarack Valley Energy Ltd. has declared a monthly cash dividend on its common shares of 1.25 cents per share, in accordance with the company's dividend policy. The dividend will be payable on March 15, 2024, to shareholders of record at the close of business on Feb. 29, 2024. This monthly cash dividend is designated as an eligible dividend for Canadian income tax purposes.

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 Tamarack delivers on its environmental, social and governance (ESG) commitments and goals.

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