PEYTO EXPLORATION & DEV Business Summary

Peyto Exploration & Development Corp. (PEY) is a pure-play Canadian energy company primarily engaged in the exploration, development, and production of unconventional natural gas and natural gas liquids (NGLs) within the Alberta Deep Basin. The company generates revenue through the direct sale of produced commodities, leveraging a vertically integrated business model where it owns and operates its own gas processing plants and gathering infrastructure to maintain a peer-leading low-cost structure. Its primary business segments are categorized by product stream: Natural Gas, which accounts for the majority of production volume, and Natural Gas Liquids (including condensate, pentane, and butane). Peyto distinguishes itself through a disciplined hedging program and a focus on high-margin, long-life reserves, positioning it as a top-tier low-cost operator relative to direct competitors such as Tourmaline Oil Corp., ARC Resources Ltd., Whitecap Resources Inc., and Ovintiv Inc. Founded in 1998 by Don Gray and Richard Braund, the company is currently led by President and CEO Jean-Paul "JP" Lachance, a 30-year industry veteran who previously served as the company’s COO. The executive team includes Tavis Carlson as VP and Chief Financial Officer, who brings extensive experience from Altura Energy and PwC, and Riley Frame as VP of Engineering and Chief Operating Officer. The leadership is supported by a robust Board of Directors chaired by co-founder Don Gray and including former CEO Darren Gee, alongside independent directors such as Brian Davis and Debra Gerlach. Notable institutional backing includes Pricoa Private Capital, reflecting the company’s long-standing reputation for capital discipline and consistent dividend distributions.