Obsidian Energy amends credit agreement with RBC, BMO, ICBC Standard Bank effective Aug. 4, 2026

Obsidian Energy entered a second amending agreement effective Aug. 4, 2026, updating its April 28, 2026 credit agreement.

• Royal Bank of Canada, Bank of Montreal, and ICBC Standard Bank serve as lenders; RBC acts as agent.
• The amendment expands “2025 Notes” to include 8.125% senior unsecured notes due Dec. 3, 2030 issued on Dec. 3, 2025, July 22, 2026.
• The Permitted Junior Debt cap was reset at CAD 350 million; it may be unsecured or second-lien, subject to a second-lien intercreditor agreement.
• Distributions or junior-debt prepayments were tightened; they now require total debt-to-EBITDA at or below 1.5 and undrawn availability of at least 20%.