Calgary, Alberta--(Newsfile Corp. - March 4, 2026) - Baytex Energy Corp. (TSX:BTE) (NYSE:BTE) ("Baytex" or the "company") announces that its Board of Directors has declared a quarterly cash dividend of CDN$0.0225 per share to be paid on April 1, 2026 for shareholders of record on March 13, 2026.

The U.S. dollar equivalent amount is approximately US$0.0164 per share assuming a foreign exchange rate of 1.37 CAD/US. Payments to shareholders who are not residents of Canada will be net of any Canadian withholding taxes that may be applicable. This dividend is designated an "eligible dividend" for Canadian tax purposes and is considered a "qualified dividend" for U.S. income tax purposes.

Baytex Energy Corp.

Baytex Energy Corp. is a Calgary-based energy company committed to driving shareholder value through disciplined execution. It operates a high-quality, high-return portfolio in the Western Canadian Sedimentary Basin, featuring the Pembina Duvernay and heavy oil plays in Alberta and Saskatchewan. These core assets are backed by an extensive drilling inventory and consistently generate strong cash flow. Baytex's common shares are traded on the New York Stock Exchange and the Toronto Stock Exchange under the symbol BTE.

For further information about Baytex, please visit our website at www.baytexenergy.com or contact:

Brian Ector, Senior Vice President, Capital Markets and Investor Relations

Toll Free Number: 1-800-524-5521
Email: investor@baytexenergy.com

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