Board of Directors

MARK R. BLY

Director since 2017

Mr. Bly is an independent businessman with over 35 years of experience in the oil and gas industry, primarily with BP, a global producer of oil and gas. Mr. Bly led several key E&P units for BP in Alaska, the North Sea and in North America. Subsequently, he was a member of the E&P Executive Group, overseeing an international E&P portfolio. In his final role as Executive Vice President, Safety and Operations Risk, he led the transformational program to drive operational excellence and risk management across all of BP’s global activities. He currently serves as an independent director of Secure Waste Infrastructure. Mr. Bly holds a Master of Science degree in structural engineering from the University of California, Berkeley and a Bachelor of Science degree in civil engineering from the University of California, Davis.

Chad E. Lundberg | President and Chief Executive Officer

Chad E. Lundberg

Director since 2026

Mr. Lundberg was appointed President and Chief Executive Officer of Baytex in May 2026, having previously served as President and Chief Operating Officer since 2025 and Chief Operating Officer since 2021. He joined Baytex in August 2018 as Vice President, Light Oil. Mr. Lundberg is an accomplished energy executive with deep experience in operations, management, and organizational transformation. He has a proven track record of building high-performing teams, driving cost efficiencies, and leading complex technical operations, with a strong focus on responsible resource development and financial discipline. Prior to joining Baytex, Mr. Lundberg was Vice President, Operations at Raging River Exploration Inc. from 2016 to 2018, where he led the operational scaling of key assets. Earlier in his career, he held progressive technical and management roles at Crescent Point Energy Corporation from 2008 to 2016, contributing to significant company growth and strategic market expansion. Mr. Lundberg holds a Bachelor of Science in Mechanical Engineering from the University of Calgary.

Trudy M. Curran | Chair, Human Resources & Compensation Committee | Member, Nominating & Governance Committee

TRUDY M. CURRAN

Director Since 2016

Ms. Curran is a retired businesswoman with extensive experience in human resources, mergers and acquisitions, financing and governance. She served as an officer of Canadian Oil Sands Limited from September 2002 until its sale in February 2016. As Senior Vice President, General Counsel & Corporate Secretary of Canadian Oil Sands Limited, she was responsible for legal, human resources and administration and a member of the executive team focused on strategy and risk management. From 2003 to 2016, she was a director of Syncrude Canada Ltd., where she served as chair of the Human Resources and Compensation Committee and as a member of the Pension Committee. She currently serves as a director of Trican Well Service Ltd., and Equinox Gold Corp. Additionally, she served as a member of the Alberta Securities Commission from July 2017 to April 2026 and was co-chair of the Executive Committee of the Calgary chapter of the Institute of Corporate Directors. Ms. Curran holds a Bachelor of Arts Degree in English and a Bachelor of Laws degree (both with distinction) from the University of Saskatchewan and the ICD.D designation from the Institute of Corporate Directors.

Don G. Hrap | Chair, Reserves & Sustainability Committee | Member, Audit Committee

DON G. HRAP

Director since 2020

Mr. Hrap is an independent businessman with over 35 years of experience in the oil and gas industry. Most recently, he served as President, Lower 48 at ConocoPhillips, a role he held from 2009 to 2018. During his time at ConocoPhillips, he also served as president of the Lower 48 and Latin America, and previously as Senior Vice President of Western Canada Gas. He joined ConocoPhillips in 2006 through the merger with Burlington Resources, where he was Senior Vice President of Operations for Burlington Canada. Earlier in his career, he was Vice President for the North American Division at Gulf Canada Resources, where he worked for 17 years. Mr. Hrap is currently a director of WildFire Energy I LLC, a private oil and gas exploration company. He is a former Chairman and member of the API Upstream Committee, a former member of the Independent Petroleum Association of America (IPAA), and a former member of the Executive Committee of the U.S. Oil and Gas Association. He holds a Bachelor of Science in Mechanical Engineering from the University of Manitoba (1982) and a Master of Business Administration from the University of Calgary (1995).

Jennifer A. Maki | Chair, Audit Committee | Member, Human Resources & Compensation Committee

JENNIFER A. MAKI

Director since 2019

Ms. Maki joined the Board on September 9, 2019. Most recently, she served as Chief Executive Officer of Vale Canada and Executive Director of Vale – SA – Base Metals from 2014 to 2017 Prior to that, she held several senior positions with Vale Base Metals, including Chief Financial Officer & Executive Vice-President from 2007 to 2014, Vice-President & Treasurer, and with Inco Limited as Assistant Controller. She was actively involved in managing Vale’s Base Metals businesses outside Canada serving as a member of the Board of Commissioners of PT Vale Indonesia Tbk from 2007 to 2017, including as its President Commissioner from 2014 to 2017, and as a director of Vale Nouvelle-Calédonie SAS. She also Chaired Vale Canada’s Pension Committee from 2007 to 2017. Before joining Vale/Inco, Ms. Maki spent 10 years with PricewaterhouseCoopers LLP in roles of increasing responsibility. She served as a director of Next Generation Manufacturing Canada, a not-for-profit organization from September 2018 to October 2024 and is currently a Director at Franco-Nevada Corporation and Pan American Silver Corp. Ms. Maki has been named a Fellow of the Chartered Professional Accountants by CPA Ontario, holds the ICD.D designation from the Institute of Corporate Directors and has earned the CERT Certificate in Cybersecurity Oversight from the Software Engineering Institute at Carnegie Mellon University. She also holds a Bachelor of Commerce degree from Queen’s University and a postgraduate diploma from the Institute of Chartered Accountants, both in Ontario, Canada.

David L. Pearce | Member, Human Resources and Compensation Committee | Member, Reserves & Sustainability Committee

DAVID L. PEARCE

Director since 2018

Mr. Pearce is currently the Deputy Chairman of Azimuth Capital Management, a private equity energy firm, where he has served since July 2014. He was an Operating Partner with the Azimuth predecessor KERN Partners from 2008 to 2014. From March 2012 to August 2018, Mr. Pearce was a director of Raging River Exploration Inc. He also spent nearly a decade with Northrock Resources Ltd. from 1999 to 2008, where he held several senior officer positions, including President and Chief Executive Officer. Earlier in his career, he held management roles at Fletcher Challenge Canada, Amoco Canada, and Dome Petroleum. Mr. Pearce has a Bachelor of Science (Honors) in Mechanical Engineering from the University of Manitoba.

Steve D.L. Reynish | Chair, Nominating & Governance Committee | Member, Audit Committee

STEVE D.L. REYNISH

Director since 2020

Mr. Reynish is an experienced executive with extensive experience in oil and gas, mining and clean energy. Most recently, he served as President and Chief Executive Officer of Enlighten Innovations, a private Calgary based clean energy technology organization which he joined in 2020. Prior to Enlighten, Mr. Reynish served as an Executive Vice President at Suncor Energy Inc. for eight years in a variety of capacities where he was accountable for the company’s strategy, ESG and corporate development initiatives, new technology development, joint venture and commercial portfolios – all instrumental in positioning Suncor as a toptier Western Canadian based integrated energy company. Mr. Reynish also served as interim CFO for the Company. Earlier in his career, Mr. Reynish was President of Marathon Oil Canada, having joined through its acquisition of Western Oil Sands, where he served as Executive Vice President, Operations. Prior to his entry into Canada, he held senior positions within the Anglo American Group, including Vice President of Mining of Anglo Base Metals in Johannesburg and Chief Executive Officer of Bindura Nickel in Zimbabwe. Mr. Reynish holds a Master’s degree in Mining Engineering and an MBA, both earned in the United Kingdom. He has also completed postgraduate studies at IMD and the Wharton School. He is currently a member of the board of Energy Safety Canada and a member of the Institute of Corporate Directors (ICD) and National Association of Corporate Directors (NCAD). He is also a former Member of the Board of Governors of the Oxford Institute of Energy Studies, the Canadian Associated of Petroleum Produces (CAPP), and the Canada Institute.

Jeffrey E. Wojahn | Member, Nominating and Governance Committee | Member, Reserves and Sustainability Committee

Jeffrey E. WojaHn

Director since 2023

Mr. Jeffrey E. Wojahn joined the Board in June 2023, concurrent with Baytex’s acquisition of Ranger Oil Corporation. He served on Ranger’s Board since September 2019. Mr. Wojahn was Executive Vice President of EnCana Corporation from 2003 to 2013 and President of Encana Oil & Gas (USA) Inc. from 2006 to 2013. Over his career, he has held executive, senior management, and operational roles in both Canada and the United States with extensive experience in unconventional resource play development. From 2014 to 2017, he served as an Advisory Board member for Morgan Stanley Energy Partners. In 2017, he co-founded and served as the Executive Chairman of MiddleFork Energy Partners, a privately held exploration and production company. Subsequently, MiddleFork Energy merged with Koda Resources and Mr. Wojahn became a director of the company. He has also served as a director of Bonanza Creek and Civitas Resources, and is currently a director of Apex Natural Gas LLC. Mr. Wojahn holds a Bachelor of Science degree in Geophysics from the University of Calgary (1985) and has completed numerous executive management and business programs.