AGENCY AGREEMENTAgency Agreement • November 18th, 2021 • Obsidian Energy Ltd. • Crude petroleum & natural gas • Alberta
Raymond James Ltd. (“Raymond James”) and Stifel Nicolaus Canada Inc. (and together with Raymond James, the “Agents”) understand that Obsidian Energy Ltd. (the “Corporation”) proposes to issue and offer, pursuant to the Final Prospectus (as defined herein) for sale a minimum of 2,840,909 subscription receipts of the Corporation (the “Offered Receipts”) at a price of $4.40 per Offered Receipt (the “Offering Price”) for aggregate gross proceeds to the Corporation of a minimum of $12,500,000 (the “Minimum Offering”) and up to a maximum of 5,113,636 Offered Receipts at the Offering Price for aggregate gross proceeds to the Corporation of a maximum of $22,500,000 (the “Maximum Offering” and whether the Minimum Offering or any amount up to and including the Maximum Offering, the “Offering”). Each Offered Receipt will entitle the holder thereof to receive, upon satisfaction of the Escrow Release Conditions (as defined herein), and without payment of additional consideration or further action,
OBSIDIAN ENERGY LTD. - and - RAYMOND JAMES LTD. and STIFEL NICOLAUS CANADA INC. - and - TSX TRUST COMPANY SUBSCRIPTION RECEIPT AGREEMENT Providing for the Issue of Subscription Receipts Dated November 18, 2021Subscription Receipt Agreement • November 18th, 2021 • Obsidian Energy Ltd. • Crude petroleum & natural gas • Alberta
OBSIDIAN ENERGY LTD., a corporation organized pursuant to the laws of the Province of Alberta (hereinafter referred to as the “Corporation” or “Obsidian Energy”)
