Mr. Philip Hodge reports

PINE CLIFF ENERGY LTD. PROVIDES 2025 CAPEX GUIDANCE AND DECLARES APRIL DIVIDEND

Pine Cliff Energy Ltd. has set a 2025 capital spending program of approximately $23.5-million. This includes $12.5-million dedicated to strategic drilling in its core central Alberta area, with the balance allocated for facilities maintenance and asset retirement obligations.

Reallocating capital to support drilling program

In 2024, Pine Cliff halted its development drilling program while Canadian gas prices were low and instead allocated capital to shareholders through dividend payments. Pine Cliff continuously reviews its capital allocation options, and with a highly economic inventory on its land base, Pine Cliff has decided to direct a portion of its adjusted funds flow into asset development. Drilling is planned for the second half of 2025, and Pine Cliff expects to provide production guidance for 2025 later this year once the optimal use and timing of the development capital across its land base is determined.

As a result of Pine Cliff's shifting capital allocation, the dividend will be reduced from six cents per share annually to 1.5 cents per share per year. Pine Cliff declares a monthly dividend of 0.125 cent per common share to be paid on April 30, 2025, to shareholders of record on April 15, 2025. This dividend and future dividends are expected to be designated as non-eligible dividends for Canadian income tax purposes. Since introducing the dividend in June, 2022, Pine Cliff has allocated over $100 million-in dividend distributions and will continue to balance near-term shareholder distributions with long-term shareholder returns.

About Pine Cliff Energy Ltd.

Pine Cliff is a natural gas and crude oil company with a long-term view of creating shareholder value.

We seek Safe Harbor.