This document corrects and replaces in its entirety the press release that was issued by Baytex Energy Corp., on April 28, 2022 at 8:02 PM EST. The correction relates to the total number of shares represented by shareholders at the meeting. The replaced press release follows in full below:

Calgary, Alberta--(Newsfile Corp. - April 29, 2022) - Baytex Energy Corp. (TSX: BTE) reports that all matters presented for approval at the annual and special meeting of shareholders held on April 28, 2022 were approved. A total of 216,754,960 common shares being 38.08% of Baytex's issued and outstanding shares were represented at the meeting.

At the meeting, all of the nominees proposed as directors were duly elected. Results of the vote are set out below:

KPMG LLP was appointed as Baytex's auditor until the next annual meeting of its shareholders, and the directors were authorized to fix their remuneration. The result of the vote is as follows:

A non-binding advisory resolution with respect to Baytex's approach to executive compensation was approved. The result of the vote is as follows:

A special resolution to approve the unallocated awards under Baytex's share award incentive plan was approved. The result of the vote is as follows:

Baytex Energy Corp. is an energy company based in Calgary, Alberta. The company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Baytex's common shares trade on the Toronto Stock Exchange under the symbol BTE.

For further information about Baytex, please visit our website at www.baytexenergy.com or contact:

Brian Ector, Vice President, Capital Markets

Toll Free Number: 1-800-524-5521
Email: investor@baytexenergy.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122242