Mr. Grant Fagerheim reports

WHITECAP RESOURCES ANNOUNCES CHANGES TO BOARD OF DIRECTORS, INCLUDING THE APPOINTMENT OF SCOTT ALTHEN

Whitecap Resources Inc. has appointed Scott Althen has been appointed to its board of directors, effective March 1, 2026, and Craig Bryksa has retired from the board to pursue other opportunities.

Mr. Althen recently retired from PwC Canada following a distinguished career of more than 30 years in public practice, where he served public and private energy companies. He brings extensive exploration and production industry knowledge, along with significant transaction experience. Mr. Althen is also a past director of the Petroleum Accountants Society of Canada.

Mr. Althen will serve on Whitecap's corporate governance and compensation committee and reserves committee.

Mr. Althen's appointment follows the resignation of Mr. Bryksa, who joined Whitecap's board of directors on May 12, 2025, following the completion of the Veren Inc. transaction. Mr. Bryksa was previously president and chief executive officer of Veren, a role he held from May, 2018, and had been with Veren and its predecessor organizations since 2006.

"We're pleased to welcome Scott to the Whitecap board and look forward to leveraging his deep financial expertise to further strengthen our board," said Ken Stickland, chair of the board of directors. "At the same time, we would like to thank Craig for his service on the Whitecap board and for the significant contributions he made to Veren and its predecessors over many years. We wish him all the best in his future endeavours."

About Whitecap Resources Inc.

Whitecap Resources is a leading Canadian energy company committed to delivering reliable returns to shareholders through the responsible development of oil and natural gas assets in the Western Canadian sedimentary basin. With a strong record of profitable growth and a sustainable dividend, Whitecap delivers long-term value to investors, supported by investment-grade financial strength.