MEG Energy Announces Appointment of New Director to its Board

Calgary, Alberta - March 8, 2023 - MEG Energy Corp. (TSX: MEG) is pleased to announce the appointment of Ms. Susannah Pierce to its Board of Directors, effective March 6, 2023.

About Susannah Pierce

Ms. Pierce brings a wealth of experience in the energy industry and corporate governance to MEG Energy's Board. She has held various leadership roles in the sector, including:

Chief Executive Officer of Suncor Energy (2019-2021): Led the strategic direction and operations of Canada's largest integrated energy company.
Chief Operating Officer of Suncor Energy (2018-2019): Oversaw all facets of the company's operations, including exploration, production, refining, and marketing.
Executive Vice President of Suncor Energy (2016-2018): Responsible for Suncor's upstream and downstream businesses.

Ms. Pierce also serves as a director of several other organizations, including:

Chair of the Board of Trustees for the Calgary Philharmonic Orchestra
Director of Enbridge Inc.
Director of Nutrien Ltd.

Board Composition and Diversity

Ms. Pierce's appointment strengthens the diversity and expertise of MEG Energy's Board. She is the first female member to join the Board since 2020. The Board now comprises:

Chair: Derek Evans
Directors: Susannah Pierce, Cynthia Hansen, Guy Middleton, Mark Smith, and Derek Evans

MEG Energy's Commitment to Governance

MEG Energy is committed to maintaining a high standard of corporate governance. The Board's primary responsibilities include:

Providing strategic oversight and guidance to the company's management team.
Ensuring the company operates ethically and in compliance with all applicable laws and regulations.
Protecting the interests of shareholders and stakeholders.

Executive Leadership Team

The appointment of Ms. Pierce to the Board complements the expertise of MEG Energy's executive leadership team, which includes:

President and CEO: Derek Evans
Chief Operating Officer: Gayle McDonald
Chief Financial Officer: Danica Pagnutti
Senior Vice President, Exploration and Production: Dennis Caldwell
Senior Vice President, Marketing and Strategy: Karen Mann

About MEG Energy

MEG Energy is a leading Canadian energy company focused on sustainable in situ oil sands development. The company's operations are located in the Cold Lake region of Alberta, Canada. MEG Energy is committed to responsible and efficient development, minimizing environmental impact, and advancing Indigenous engagement and partnerships.