Vermilion is an international energy producer that seeks to create value through the acquisition, exploration, development, and optimization of producing assets in North America, Europe, and Australia. Their business model emphasizes free cash flow generation and returning capital to investors when economically warranted, augmented by value-adding acquisitions.

Vermilion is targeting production growth primarily through the exploitation of light oil and liquids-rich natural gas conventional resource plays in Canada and the United States, the exploration and development of high-impact natural gas opportunities in the Netherlands and Germany, and through oil drilling and workover programs in France and Australia. Vermilion holds a 20% working interest in the Corrib gas field in Ireland.

Vermilion's priorities are health and safety, the environment, and profitability, in that order. Nothing is more important to them than the safety of the public and those who work with them, and the protection of their natural surroundings. They have been recognized by leading ESG rating agencies for their transparency on and management of key environmental, social, and governance issues. In addition, they emphasize strategic community investment in each of their operating areas. VERMILION HAS BUILT A HIGHLY PROSPECTIVE EXPLORATION PORTFOLIO ACROSS CEE Approximately 2.0 million net acres of undeveloped land in the Pannonian basin across three countries. Focused on under-invested basins prospective for both oil and gas that can benefit from new technology.

Vermilion's strategic model aims to deliver annual organic production growth funded with internally generated cash flow. Vermilion sets its targets for organic production per-share growth at rates that are appropriate to our asset base. This self-funded growth model is underpinned by our operating, geographic and organizational models.

► Primary drivers of Vermilion’s historically strong performance:

• Low debt levels

• Diversified asset base that reduces volatility.

• Top decile netbacks & low declines from conventional / semi-conventional asset base that drive strong FCF.

• Strong exposure to premium price European gas and Brent oil.

• Strong returns to shareholders driven by strong FCF generation - $40 per share dividends paid.

• Consistently achieving market guidance targets.

► Europe consumes approximately 45-50 Bcf/d of natural gas, with demand increasing due to energy transition government policies

► Power sector gas use is expected to grow during the transition.

• Germany is shutting down nuclear generation and has recently accelerated the phase-out of coal from 2038 to 2030.

• Europe transitioning away from Russian gas and prioritizing domestic energy security o Ireland has committed to building nine gas-fired generators by 2024.

• Natural gas is recognized by the EU as a necessary transition fuel.