Mr. Craig Blackwood reports

ADVANTAGE ANNOUNCES CEO TRANSITION AND APPOINTMENT OF INTERIM CEO

Advantage Energy Ltd.'s Michael Belenkie has stepped down as president and chief executive officer and as a director of the corporation, effective today. The board of directors has appointed John Festival as interim CEO, effective immediately.

Mr. Festival commented:

"Advantage's business is performing well and continues to deliver strong results. With the Progress gas plant now complete and production set to reach record levels in the second half of the year, we are entering a period of meaningful free cash flow generation, excellent capital efficiency and strong operational momentum, driven by an exceptional team. Our commitment to operational excellence, disciplined capital allocation and return of capital to shareholders is unchanged. My focus is continuity of execution while the board identifies the right permanent leader for the corporation. The board will conduct a comprehensive search process to identify that individual. I look forward to working closely with our executive team during this transition. On behalf of the board, I want to thank Michael for his leadership and contributions to Advantage and wish him well in his next chapter."

About Mr. Festival:

Mr. Festival has over 35 years of experience in the Western Canadian energy industry. He served as president and CEO of BlackRock Ventures Inc. from 1999 to 2006, and as president and CEO of BlackPearl Resources Inc. from 2009 to 2019. He currently serves on the boards of Athabasca Oil Corp. and Cardinal Energy Ltd. Mr. Festival joined the Advantage board of directors in March, 2024, and has served as chair since May, 2025. He holds a bachelor of science in chemical engineering from the University of Saskatchewan.

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