Mr. Jean-Paul Lachance reports

PEYTO EXPLORATION & DEVELOPMENT CORP. ANNOUNCES AN 8% DIVIDEND INCREASE

Peyto Exploration & Development Corp. has made a one-cent-per-common-share increase to its monthly dividend commencing in November, 2026. The board of directors has approved a monthly dividend of 13 cents per common share to shareholders of record on Nov. 30, 2026, payable on Dec. 15, 2026. This new dividend represents an 8-per-cent increase over the current monthly dividend of 12 cents per common share.

This is Peyto's second dividend increase in 2026, following the one-cent-per-common-share monthly increase announced in May, 2026. The company's prudent risk management strategy, industry-leading cost structure and high reserve life index combine to provide secure financing for planned capital programs, dividends and the management of the balance sheet. Over the past three years, Peyto has steadily reduced its net debt by approximately $370-million and lowered its debt/EBITDA (earnings before interest, taxes, depreciation and amortization) leverage ratio from 1.66 times to below 1.00 times.

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

Peyto will release its third quarter 2026 results and preliminary capital budget for 2027 on Nov. 9, 2026.

We seek Safe Harbor.