Baytex Energy Shareholders Elect Board, Approve KPMG and Executive Pay Vote at Annual Meeting

Baytex Energy NYSE: BTE held its annual meeting of shareholders virtually, with Chair of the Board Mark Bly presiding and James Maclean, the company’s chief legal officer and corporate secretary, serving as secretary of the meeting.

During the meeting, Bly said the company had received confirmation from Odyssey Trust Company that the notice of meeting, information circular and proxy forms had been properly mailed to shareholders. He also said the scrutineer’s report showed that a quorum was present, allowing the meeting to proceed.

Baytex conducted voting through the Lumi virtual meeting platform, along with votes previously submitted by proxy. Bly told shareholders that those who had already voted did not need to vote again, noting that a new vote would revoke a prior vote submitted before the cutoff.

Shareholders Elect Board Nominees

The company presented the election of directors as one of the main items of business. Bly said the nominees were the individuals listed in Baytex’s information circular and proxy statement dated March 20, 2026.

The directors elected were:

• Mark Bly
• Trudy Curran
• Chad Lundberg
• Don Hrap
• Jennifer Maki
• David Pearce
• Steve Reynish
• Jeffrey Wojahn

After voting closed, Bly said he had been advised by the scrutineers that all resolutions had been approved by more than the required majority and that the nominees had been duly elected as directors of Baytex.

KPMG Appointed as Auditor

Shareholders also voted on the appointment of the company’s auditor. Chad Kalmakoff moved that KPMG LLP be appointed as Baytex’s auditor until the next annual meeting, or until a successor is appointed, and that the auditor’s remuneration be fixed by the board of directors. Maclean seconded the motion.

Bly later declared the motion carried after the voting results were tabulated.

Executive Compensation Vote Approved

The meeting also included a non-binding advisory vote on Baytex’s approach to executive compensation, as described in the company’s information circular and proxy statement. Kalmakoff moved that the advisory resolution be approved, and Maclean seconded the motion.

Before voting closed, Maclean asked whether any comments or questions had been submitted by a registered shareholder or proxy holder. He reported that no questions had been submitted.

Financial Statements Presented

Bly also presented Baytex’s financial statements for the year ended December 31, 2025. He said the statements were available on the Lumi dashboard page and electronically on the company’s website.

Bly said detailed voting results would be released within 48 hours. The meeting was then terminated following a motion by Kalmakoff, seconded by Maclean.

About Baytex Energy NYSE: BTE

Baytex Energy Corp. is an oil & gas exploration and production company. The firm engages in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company was founded on June 3, 1993 and is headquartered in Calgary, Canada.

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