Peter Dea to Retire from Ovintiv's Board, Steven Nance Steps In as Chairman

Ovintiv Announces Peter Dea's Retirement

Ovintiv Inc. has formally announced the retirement of Peter Dea from its Board of Directors, effective May 6, 2026. Dea has been instrumental in the company’s journey, having joined the Board in 2010 and serving as its Chairman since 2020. Over his extensive career, he has amassed over 40 years of experience in the energy sector, excelling particularly in the exploration and production (EP) industry.

As a vital member of Ovintiv’s leadership team, Dea has significantly contributed to shareholder value and has been a guiding force in navigating the complexities of oil and gas operations. His leadership has been characterized by a strong emphasis on sustainability and strategic development, making him a vital asset to the company throughout his tenure. Moreover, he has been active beyond corporate affairs, establishing a foundation with his family that supports multiple causes, including education, science, and conservation efforts.

Brendan McCracken, President and CEO of Ovintiv, remarked on Dea’s impact: "On behalf of the Board and our leadership team, I would like to thank Peter for his many contributions over the last 15 years. His wealth of knowledge, strong leadership, and dedication have been invaluable to our company. We will miss his wise counsel and wish him well in retirement."

In light of Dea's upcoming departure, Steven Nance has been unanimously elected by the Board to step into the role of Chairman. Nance is no stranger to corporate governance, bringing over a decade of experience as a corporate director. He has held various significant positions on multiple boards and is known for his expertise in governance, mergers and acquisitions, and shareholder engagement. Currently, he serves as the President and Manager of Steele Creek Energy, LLC, a private investment firm specializing in oil and gas.

Having contributed to the Ovintiv Board for six years, Nance also chairs the Environment, Health, and Safety Committee, underscoring his commitment to sound corporate governance and environmental stewardship. As he prepares to take on the official role of Chairman, stakeholders are optimistic about his ability to guide the company toward further growth and stability while continuing Dea's legacy of prioritizing sustainability and corporate responsibility.

Ovintiv is poised to undertake this leadership transition smoothly and is confident that Nance’s proven leadership and diverse expertise will serve the company well in its future endeavors. As Dea steps back, Ovintiv aims to maintain its strong strategic focus and dedication to responsible energy production, ensuring a seamless progression into a new era under Nance’s chairmanship.

For further information about Ovintiv and its initiatives, visit www.ovintiv.com or contact their investor relations at (888) 525-0304.