Vermilion Energy Launches Normal Course Issuer Bid Approved To Repurchase Up To 15,259,187 Shares, Or 10% Of Float Through July 2026

Vermilion Energy Inc. ("Vermilion", "We", "Our", or the "Company") (TSX:VET) (NYSE:VET) is pleased to announce that the Toronto Stock Exchange ("TSX") has approved the notice of Vermilion's intention to commence a normal course issuer bid ("NCIB") through the facilities of the TSX, New York Stock Exchange and other alternative trading platforms in Canada and the United States.

The NCIB allows Vermilion to purchase up to 15,259,187 common shares, representing approximately 10% of its public float as at June 30, 2025, over a twelve-month period commencing on July 12, 2025. The NCIB will expire no later than July 11, 2026. The total number of common shares Vermilion is permitted to purchase on the TSX is subject to a daily purchase limit of 205,865 common shares, representing 25% of the average daily trading volume of 823,460 common shares on the TSX calculated for the six-month period ended June 30, 2025; however, Vermilion may make one block purchase per calendar week which exceeds the daily repurchase restrictions. As of the close of business on June 30, 2025, Vermilion had 154,018,623 common shares issued and outstanding and a public float of 152,591,872 common shares. Any common shares that are purchased under the NCIB will be cancelled upon their purchase by Vermilion.

In connection with the NCIB, Vermilion will enter an automatic purchase plan ("ASPP") with its designated broker to allow for purchases of its common shares during self-imposed blackout periods. Such purchases would be at the discretion of the broker based on parameters provided by the Company prior to any self-imposed blackout period or any period when it is in possession of material undisclosed information. The ASPP has been pre-cleared, as required by the TSX. Outside of these blackout periods, common shares may be purchased under the NCIB in accordance with Management's discretion.

Vermilion has a long history of returning capital to its shareholders as we have paid out over $40 per share in dividends since 2003 and have had an active NCIB since 2022. The Company anticipates returning 40% of excess free cash flow(1) to shareholders in 2025, primarily through the base dividend and share repurchases. Share repurchases continue to screen as one of the most compelling options for returning capital to shareholders as we believe our common shares are trading at a price that does not reflect the appropriate value of the company.

Under its prior NCIB, which runs from July 12, 2024, to July 11, 2025, the Company was allowed to purchase up to 15,689,839 common shares. As at June 30, 2025, Vermilion repurchased an aggregate of 5,631,463 common shares under its prior NCIB at a weighted average price of $12.96 per common share, excluding brokerage fees. The company purchased all common shares through the facilities of the TSX and alternative trading platforms in Canada and the United States.