Obsidian Energy Announces TSX Approval for Renewal of Normal Course Issuer Bid

Executive Summary

• Obsidian Energy received TSX acceptance of its notice to renew the Normal Course Issuer Bid (NCIB), permitting repurchase of up to 6,458,536 common shares (≈10% of public float) over a 12‑month period starting 3 Mar 2026.
• The NCIB will expire no later than 2 Mar 2027 and includes daily purchase limits with an allowance for one block purchase per calendar week.
• Shares repurchased under the NCIB will be cancelled, which management believes will enhance per‑share metrics and shareholder value.

Key Details

• Authorized Repurchase Amount: Up to 6,458,536 common shares (≈10% of public float as of 17 Feb 2026).
• Public Float Basis: 64,585,363 common shares on 17 Feb 2026; total outstanding shares 67,306,951.
• Program Period: Commences 3 Mar 2026 and expires no later than 2 Mar 2027.
• Daily Purchase Limit: 59,759 shares (25% of average daily volume of 239,036 shares for the six‑month period ended 31 Jan 2026).
• Block Purchase Provision: One block purchase per calendar week may exceed the daily limit.
• Cancellation Policy: All repurchased shares will be cancelled upon acquisition.
• Automatic Securities Purchase Plan: Pre‑cleared “automatic plan” allowing broker‑executed purchases during blackout periods, subject to parameters set by Obsidian Energy.
• Prior NCIB (Mar 2025 – Mar 2026): Fully utilized; 7,144,408 shares repurchased at a VWAP of ≈ $7.16 per share.

Notable Quotes

(No direct quotes were provided in the release.)