BOE Report

NuVista Energy Ltd. announces closing of $230 million private placement of senior unsecured notes

CALGARY, Alberta- NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) announced today that it has completed its previously announced private placement of $230 million aggregate principal amount of 7.875% senior unsecured notes due July 23, 2026 (the “Notes”).

The Notes were offered through a syndicate of underwriters led by CIBC Capital Markets and RBC Capital Markets, as joint book runners, Scotiabank, as co-lead manager, and ATB Capital Markets, BMO Capital Markets and Peters & Co., as co-managers.

The Company intends to use the net proceeds of the Notes to fully redeem its $220 million aggregate principal amount of 6.5% senior unsecured notes due March 2, 2023 at a redemption price of 101.625%, plus accrued and unpaid interest.

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Forward-Looking Information and Statements

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” “forecast” and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this news release contains forward-looking information and statements pertaining to the intended use of proceeds of the Notes, including the redemption of the Company’s 6.5% senior unsecured notes.

Forward-looking statements or information are based on a number of material factors, expectations or assumptions of NuVista which have been used to develop such statements and information but which may prove to be incorrect. Although NuVista believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because NuVista can give no assurance that such expectations will prove to be correct.

The forward-looking information and statements contained in this news release speak only as of the date of this news release, and NuVista does not assume any obligation to publicly update or revise any of the included forward-looking statements or information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

CONTACT: FOR FURTHER INFORMATION CONTACT: Jonathan A. Wright President and CEO (403) 538-8501 Ross L. Andreachuk VP, Finance and CFO (403) 538-8539 Mike J. Lawford Chief Operating Officer (403) 538-1936