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.

Derek W. Evans | Member, Nominating and Governance Committee | Member, Reserves and Sustainability Committee

DEREK W. EVANS

Director since 2026

Mr. Evans is an independent businessman with over 40 years of experience in various operational and senior executive positions in the oil and gas business in Western Canada.

Mr. Evans currently serves as Chair of the Board of Directors of AltaGas Ltd. He previously served as Executive Chairman of Pathways Alliance, a consortium of Canada’s largest oilsands producers, from May 2024 until February 2026. Prior to that, he was President, Chief Executive Officer and a Director of MEG Energy Corp. from 2018 to May 2024, and President, Chief Executive Officer and a Director of Pengrowth Energy Corp. from 2009 until 2018.

Mr. Evans holds a Bachelor of Science in Mining Engineering from Queen’s University, is a registered professional engineer in Alberta, and holds 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 | Chair, Nominating & Governance Committee | Member, Human Resources and Compensation 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.

Deanna L. Zumwalt | Member, Reserves and Sustainability Committee | Member, Audit Committee

DEANNA L. ZUMWALT

Director since 2026

Ms. Zumwalt is an accomplished executive and corporate director with extensive experience in finance, energy marketing, and diversified investment management. She joined the Board in July 2026.

Ms. Zumwalt was most recently President and Chief Executive Officer of Coril Holdings Ltd. (“Coril”), a Calgary-based privately held diversified investment company with subsidiaries and investments in railway maintenance, commercial real estate and other asset classes, from 2021 to 2025. During her tenure at Coril, she also chaired the boards of Loram Maintenance of Way Inc., Triovest Realty Advisors Inc. and INLIV Inc., having previously held progressively senior roles including President and Chief Financial Officer. Prior to Coril, Ms. Zumwalt held a variety of senior commercial, financial and energy marketing leadership positions at Nexen Energy ULC, including Vice President, Energy Marketing and Vice President, North American Crude Oil Marketing. Earlier in her career, she held finance positions with Anadarko Petroleum and began her career with Arthur Andersen LLP.

Ms. Zumwalt is the Founder and Board Chair of Calgary Wild FC and currently serves as a director of Calgary Economic Development and WIQ Technologies, where she chairs the Audit Committee. She has also served on the Board of SECURE since 2019, where she has chaired the Audit Committee.

Ms. Zumwalt is a Chartered Professional Accountant (CPA, CA), holds the ICD.D designation from the Institute of Corporate Directors, and earned a Diploma in Financial Strategy from the University of Oxford.