Kaybob

The Company’s Kaybob properties are located in the greater Kaybob area near Fox Creek, Alberta and
include the Kaybob North Duvernay development and other natural gas and oil producing properties.
Paramount’s Kaybob land holdings include approximately 110,000 net acres of Duvernay rights and
approximately 180,000 net acres of Montney rights.

The Kaybob properties had average sales volumes of 19,088 Boe/d in the first quarter of 2026 (38.0 MMcf/d of shale gas, 36.2 MMcf/d of conventional natural gas, 5,797 Bbl/d of NGLs, 867 Bbl/d of light and medium crude oil and 56 Bbl/d of tight oil).