#Canada #Calgary #Vermilion Energy #Unsecured Notes #Westbrick Energy

Vermilion Energy Inc. Pricing Announcement

On January 28, 2025, Vermilion Energy Inc. confirmed the pricing of its long-anticipated private offering, which involves senior unsecured notes upon raising up to US$400 million. These notes are set to mature on February 15, 2033, bearing an interest rate of 7.250% per annum, which will be disbursed semi-annually to investors.

This strategic initiative is seen as a significant move by Vermilion as it prepares to finalize the offering on or around February 11, 2025, contingent upon standard closing conditions being met. The proceeds from this offering are earmarked for multiple key objectives, including the redemption and repayment of the company's outstanding 5.625% senior notes due in 2025, facilitating the acquisition of Westbrick Energy Ltd., covering transaction-related fees and expenses, and addressing outstanding credit facility borrowings.

The new notes will not be registered under the U.S. Securities Act or relevant state securities laws, meaning they cannot be sold or offered in the United States without proper registration or exemption. Furthermore, sales in Canada will be made on a prospectus-exempt basis, targeting institutional accredited investors within specific provinces in Canada and qualified institutional buyers in the U.S.

Vermilion emphasizes that this offering does not represent a solicitation to sell or buy securities within jurisdictions where such activities would be illegal.

Forward-Looking Information

This announcement includes what are referred to as 'forward-looking statements'. These statements encompass expectations regarding the size of the Offering, its terms, and how the financial proceeds will be utilized. While Vermilion considers these expectations reasonable, there can be no assurance they will materialize, and the company advises caution when relying on such forecasts.

The success of the Offering hinges on several factors, including the necessity of obtaining the requisite consents and approvals, the ability to finalize the Westbrick Acquisition as discussed, and the overall condition of the economic and market landscape. Unforeseen circumstances, including potential delays in closing the offering, could adversely impact Vermilion's operational and financial standings.

About Vermilion Energy

Vermilion Energy is recognized as a global energy producer dedicated to driving value from the acquisition, exploration, development, and optimization of energy assets spread across North America, Europe, and Australia. The company prioritizes generating free cash flow and returning value to investors when conditions permit, while also engaging in acquisitions that enhance its resource base.

The company's core operations emphasize the extraction of light oil and natural gas from both conventional and unconventional sources, upholding commitments to health, safety, environmental sustainability, and community investments in every region where it operates. Vermilion is publicly traded on the Toronto and New York Stock Exchanges under the ticker symbol VET.