Due to restrictions on gatherings implemented by the Government of Alberta in response to the COVID-19 (Coronavirus) outbreak, guidelines issued with respect to social distancing and out of concern for the wellbeing of all participants, we strongly recommend that registered shareholders not attend the meeting in-person. Any person attending the Meeting in person will be required to follow the Company’s health and safety measures, which will include physical distancing, use of personal protective equipment (including facemasks) and completion of a health-assessment. The precautionary measures being taken by the Company are intended to reduce the potential risks associated with the COVID-19 pandemic, and they may be further updated as necessary to take into account evolving recommendations and directives of public health authorities.

Following the conclusion of the Meeting, our Interim President and CEO, Mr. Stephen Loukas, will host a webcast presentation. Please see further details below.

Shareholders can vote in advance of the meeting by mail, telephone or internet in the manner set out in the meeting materials that have been sent to shareholders, copies of which can be accessed on our website at www.obsidianenergy.com^[1].

YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY

The Board of Directors recommend that Shareholders vote FOR the proposed resolutions.
Submit your vote in advance of the proxy deposit deadline of
9:00 a.m. (MDT) on Tuesday, July 28, 2020.

Webcast

Following the conclusion of the Meeting, our Interim President and CEO, Mr. Stephen Loukas will host a webcast presentation online on Thursday, July 30, 2020 at 10:30 am Mountain Time (12:30 pm Eastern Time).

This webcast presentation will also be broadcast live on the Internet and may be accessed directly at the following URL:https://produceredition.webcasts.com/starthere.jsp?ei=1345300&tp_key=e31cae696f^[2]

Alternatively, to listen to the conference call, please call 416-764-8659 or 1-888-664-6392 (toll-free).