Market Overview

Baytex Reports Shareholder Meeting Results

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CALGARY, Alberta, May 07, 2020 (GLOBE NEWSWIRE) -- Baytex Energy Corp. ("Baytex") ((TSX, NYSE:BTE) reports that all matters presented for approval at the annual meeting of shareholders held today were approved.  A total of 197,784,694 common shares being 35.29% 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.

Name of Nominee   Votes For
    #   %
Mark R. Bly   165,423,477   95.85
Trudy M. Curran   164,527,859   95.33
Naveen Dargan   161,051,482   93.32
Don G. Hrap   165,567,164   95.93
Edward D. LaFehr   164,550,408   95.34
Jennifer A. Maki   165,841,160   96.09
Gregory K. Melchin   163,942,950   94.99
David L. Pearce   165,624,975   95.97

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

Votes For
#   %
191,168,691   96.90
     

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

Votes For
#   %
159,011,068   92.13

Baytex Energy Corp. is an oil and gas corporation 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. Approximately 83% of Baytex's production is weighted toward crude oil and natural gas liquids. Baytex's common shares trade on the Toronto Stock Exchange and the New York 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

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