MEG Energy announces the Passing of Board Chair Ian D. Bruce

CALGARY, Oct. 17, 2023 - MEG Energy Corp. (TSX:MEG) ("MEG" or the "Corporation") sadly announces that Mr. Ian D. Bruce, Board Chair, passed away unexpectedly on Sunday, October 15, 2023. Mr. Bruce was elected to the MEG Board in 2019 and served as Board Chair since 2020.

Mr. Derek Evans, Chief Executive Officer, commented, "It is with great sadness that we announce the passing of Mr. Bruce. Ian was passionate about our industry and brought a wealth of experience and wisdom to MEG. He was a tremendous supporter of MEG and our management team and will be greatly missed by all of us at MEG and all who knew him. On behalf of our Board of Directors, management team and employees, we extend our deepest sympathies to Ian's family."

MEG is an energy company focused on sustainable in situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. MEG is actively developing innovative enhanced oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the responsible economic recovery of oil as well as lower carbon emissions. MEG transports and sells thermal oil (AWB) to customers throughout North America and internationally. MEG is a member of the Pathways Alliance, a group of Canada's largest oil sands producers working together to address climate change and achieve the goal of net zero emissions¹ by 2050. MEG's common shares are listed on the Toronto Stock Exchange under the symbol "MEG" (TSX: MEG).

Learn more at www.megenergy.com

For further information, please contact:

Investor Relations
T 403-767-0515
E invest@megenergy.com

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E media@megenergy.com

SOURCE MEG Energy Corp.