May 22, 2025

WHITECAP RESOURCES INC. TO TERMINATE ITS U.S. REPORTING OBLIGATIONS WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION IN RESPECT OF ITS COMMON SHARES

CALGARY, ALBERTA – Whitecap Resources Inc. ("Whitecap") (TSX: WCP) intends to file a certification with the U.S. Securities and Exchange Commission (the "SEC") today in order to terminate the registration, and its reporting obligations, in respect of its common shares under the U.S. Securities Exchange Act of 1934, as amended (the "Exchange Act"). If the SEC does not object, such deregistration and termination will become effective 90 days from today’s filing or such shorter period as the SEC may determine. However, Whitecap’s reporting obligations with the SEC in respect of its common shares, including its obligations to file annual reports and furnish other reports, will immediately be suspended upon today’s filing.

Whitecap’s common shares will continue to be listed on the Toronto Stock Exchange, and Whitecap will continue to meet its Canadian continuous disclosure obligations through filings with the applicable Canadian securities regulators. Whitecap’s filings may be accessed through the SEDAR+ website (www.sedarplus.com) and on our website at www.wcap.ca.

About Whitecap
Whitecap Resources Inc. is an oil-weighted growth company that pays a monthly cash dividend to its shareholders. Our business is focused on profitable production growth combined with sustainable dividends to shareholders. Our objective is to fully fund our capital expenditures and dividend payments within funds flow. For further information about Whitecap, please visit our website at www.wcap.ca.

For further information:

Grant Fagerheim, President & CEO
or
Thanh Kang, Senior Vice President & CFO

Whitecap Resources Inc.
3800, 525 – 8th Avenue SW
Calgary, AB  T2P 1G1
(403) 266-0767
InvestorRelations@wcap.ca
www.wcap.ca

Refer to full press release for forward-looking statements and advisories.

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