Obsidian Energy Ltd. 2026 Annual and Special Meeting Materials

This filing contains materials related to Obsidian Energy Ltd.'s 2026 Annual and Special Meeting, including the Notice of Meeting, Management Information Circular, and Proxy Statement. The meeting is scheduled for May 7, 2026, and will cover several key items. Shareholders will receive the consolidated financial statements for the year ended December 31, 2025, and the auditor's report. Key agenda items include the appointment of auditors for the upcoming year, the election of directors, and a non-binding advisory vote on the company's executive compensation approach. Additionally, shareholders will vote on proposed amendments to the Stock Option Plan, including an increase in the maximum number of shares issuable and the removal of the annual grant rate restriction. Approval is also sought for all unallocated options and share unit awards under the respective plans. The filing details the procedures for proxy voting, information on director nominees, and the company's corporate governance practices. It also outlines the company's approach to executive compensation and provides details on equity compensation plans.