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Disclaimer: 

Certain statements included or incorporated by reference on this website may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, respectively (collectively referred to herein as “forward-looking statements or information”). Such forward-looking statements or information typically contain statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose” or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking statements or information may include, but are not limited to: capital expenditures and Vermilion’s ability to fund such expenditures; business strategies, objectives and priorities; Vermilion’s budget; the flexibility of Vermilion’s capital program and operations; operational and financial performance; sustainability (Environment, Social, and Governance or ESG) data, targets, objectives, projections, goals and performance; estimated volumes of reserves and resources; petroleum and natural gas sales; future production levels and the timing thereof, including Vermilion’s annual guidance, and rates of average annual production growth; the potential financial impact of climate-related risks; acquisition and disposition plans and the timing thereof, including the impacts integration of the Westbrick assets and the disposition of the Saskatchewan and US assets; operating and other expenses, including the payment and amount of future dividends; royalty and income tax rates and Vermilion’s expectations regarding future taxes and taxability; and the timing of regulatory proceedings and approvals.

Such forward-looking statements or information are based on a number of assumptions of which all or any may prove to be incorrect. In addition to any other assumptions identified on this website, assumptions have been made regarding, among other things: the timely receipt of required regulatory approvals and the possibility that government policies or laws may change or governmental approvals may be delayed or withheld; foreign currency exchange rates and interest rates and inflation rates; the ability of the Company to conduct operations in a safe manner; political stability of the areas in which the Company operates; the effects of changes to international trade policies; the accuracy of the Company’s 2025 budget; the ability of the Company to retain key employees; the regulatory framework regarding royalties, taxes and environmental matters; global economic conditions; and the ability of the Company to execute plans.

Although Vermilion believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements or information because Vermilion can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates, and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Vermilion and described in the forward-looking statements or information. These risks and uncertainties include, but are not limited to: commodity prices; exchange rates; interest rates; geopolitical tensions; volatility of foreign exchange rates; inflationary pressures; increase in operating costs; cost of new technology; tax, royalty, and other government legislation; government regulations; policy and legal risks; political events and terrorist attacks; variations in interest rates and foreign exchange rates; environmental legislation; hydraulic fracturing regulations; climate change; competition; international operations and future geographical/industry expansion; acquisition assumptions; and other risks and uncertainties described elsewhere on this website or in Vermilion’s other filings with Canadian and US securities regulatory authorities. Many factors could cause Vermilion’s or any particular business unit’s actual results, performance, or achievements to vary from those described on this website, including, without limitation, those listed above and the assumptions upon which they are based proving incorrect. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described on this website as intended, planned, anticipated, believed, sought, proposed, estimated, forecasted, expected, projected, or targeted and such forward-looking statements included on this website should not be unduly relied upon. The impact of any one assumption, risk, uncertainty, or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and Vermilion’s future decisions and actions will depend on management’s assessment of all information at the relevant time. Such statements speak only as of the date on this website. The forward-looking statements or information contained on this website are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking statements contained on this website are expressly qualified by these cautionary statements.

On this website contains references to sustainability/ESG data and performance that reflect metrics and concepts that are commonly used in such frameworks as the Greenhouse Gas Protocol, Global Reporting Initiative, the Task Force on Climate-related Financial Disclosures, and the Sustainability Accounting Standards Board. Vermilion has used best efforts to align with the most commonly accepted methodologies for ESG reporting, including with respect to climate data and information on potential future risks and opportunities, in order to provide a fuller context for our current and future operations. However, these methodologies are not yet standardized, are frequently based on calculation factors that change over time, continue to evolve rapidly and in some cases do not yet exist. Readers are particularly cautioned to evaluate the underlying definitions and measures used by other companies, as these may not be comparable to Vermilion’s. While Vermilion will continue to monitor and adapt its reporting accordingly, the Company is not under any duty to update or revise the related sustainability/ESG data or statements except as required by applicable securities laws.

In addition, in respect of the sustainability and ESG-related matters contained on this website, Vermilion cautions the reader of the following:

• This website contains references to sustainability and ESG related data, including data obtained from clients and other third-party sources. Vermilion’s use of third-party data cannot be taken as an endorsement of the third-party or its data or be construed as granting any form of intellectual property. Although Vermilion believes these sources are reliable, Vermilion has not independently verified all third-party data, or assessed the assumptions underlying such data, and cannot guarantee their accuracy. The data used by Vermilion in its sustainability and ESG-related disclosures may be limited in quantity, unavailable, or inconsistent across sectors. Certain third-party data may also change over time as sustainability and ESG standards evolve. These factors could have a material effect on Vermilion’s sustainability and ESG- related objectives and the ability to meet them.
• Certain statements on the website, including those related to targets, may be aspirational, as is made clear in the text. Achieving these targets and other aspirations depends on various assumptions, including about technological, economic, scientific, policy and legal trends and developments. As such, the information, the targets and aspirations set out on this website are subject to evolution, amendment, update and restatement over time. The terms “ESG”, “sustainability” and “net zero” and similar terms, taxonomies and criteria are evolving, and Vermilion’s use of such terms may change to reflect such evolution. Vermilion may need to purchase carbon and clean energy instruments, including carbon offset credits, to meet its sustainability and ESG-related objectives. The market for these instruments is still developing and their availability may be limited. The maturity, liquidity and economics of this market may make it more difficult than expected for Vermilion to achieve its sustainability and ESG-related objectives.

This is an evolving area, and as such our historical statements may not reflect our current approach of sustainability-related practice. On this website is not required to be prepared or filed by Vermilion under applicable securities laws, and the information contained herein should not be read as necessarily rising to the level of materiality of disclosure required in our securities law filings to be considered to be incorporated into such filings.