Pine Cliff Energy Ltd. Declares Monthly Dividend for December 31, 2024 and Extension of Increased Demand Loan

About this update from Pine Cliff Energy Ltd.

Calgary, Alberta--(Newsfile Corp. - December 3, 2024) - Pine Cliff Energy Ltd. (TSX: PNE) (OTCQX: PIFYF) ( "Pine Cliff" or the "Company" ) has declared a regular monthly dividend of $0.005 per common share to be paid December 31, 2024, to shareholders of record on December 16, 2024. This dividend and future dividends are expected to be designated as non-eligible dividends for Canadian income tax purposes until further notice. On November 29, 2024, Pine Cliff extended a temporary increase in its demand loan with a Canadian chartered bank to $15.0 million until April 30, 2025. The increase initially granted on March 27, 2024 was previously scheduled to reduce to $12.0 million effective December 1, 2024. About Pine Cliff Pine Cliff is a natural gas and crude oil company with a long-term view of creating shareholder value. Further information relating to Pine Cliff may be found on sedarplus.ca as well as on Pine Cliff's website at www.pinecliffenergy.com . For further information, please contact: Philip B. Hodge - President and CEO Kristopher B. Zack -CFO and Corporate Secretary Telephone: (403) 269-2289 Fax: (403) 265-7488 Email: [email protected] The TSX does not accept responsibility for the accuracy of this release. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232400

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