Pipestone Energy Corp. Announces Equitable Origin Certification

Calgary, Alberta, January 20, 2022 — Pipestone Energy Corp. (“Pipestone” or the
“Company”) today announced it has achieved independent certification of all its production from its world
class Pipestone Wembley asset under the Equitable Origin EO100™ Standard for Responsible Energy
Development. The certified unit is in the Montney formation, located west of Grande Prairie, Alberta,
covering more than 90,000 net acres.

The company began the process of seeking independent certification through Equitable Origin in April 2021.
The EO100™ Standard for Responsible Energy Development is a set of rigorous performance standards
for energy development projects that was developed by the non-profit organization Equitable Origin. The
EO100™ standard represents leading industry practices for site-level ESG performance of energy and is
based on a consensus from industry, NGOs, affected communities and government agencies to incentivize
excellence in social and environmental performance of energy projects.

Specifically, Equitable Origin has certified Pipestone’s produced natural gas against the five principles of the EO100™ Standard, including corporate governance and ethics; social impacts, human rights and community engagement; Indigenous Peoples’ rights; occupational health & safety and fair labor standards; and environmental impacts, biodiversity and climate change. As part of certification, Pipestone has committed to a continuous improvement plan encompassing all five principles. Progress against this plan will be evaluated annually.

Read the full press release here.

More information about the assessment is available in Pipestone’s Summary Report.