CALGARY, AB – (TSX: PMT) – Perpetual Energy Inc. (“Perpetual” or the “Company”) announced today that the maturity date applicable to the Company’s first lien revolving credit facility has been extended to July 16, 2021 and the $20 million borrowing limit maintained. The borrowing limit is scheduled to be redetermined and the revolving credit period extended on or before July 16, 2021. The maturity of the Company’s second lien Term Loan has been extended to July 30, 2021. These loan maturity extensions provide additional time to finalize negotiations with its lenders and for the Company to explore opportunities to enhance its liquidity. If the revolving credit facility maturity is not extended on or before July 16, 2021, the revolving credit facility will cease to revolve, and all outstanding balances will be repayable. Similarly, if the Term Loan maturity is not further extended by July 30, 2021, the Term Loan will be repayable.