Pengrowth Energy Corporation announced that it has reached an agreement for a 31 day extension of the maturity date under its Credit Facility and under its secured notes that were previously due October 18, 2019 (the “October Notes”). Pengrowth remains in ongoing discussions with its lenders and noteholders regarding a potential transaction that would address an overall extension of maturities under the Company’s Credit Facility and Secured Notes. The Company’s CAD 330 million Credit Facility is provided by a broad syndicate of domestic and international banks and had a scheduled maturity of September 30, 2019. The lenders have agreed to provide the Company with a 31 day extension of the maturity date under the Credit Facility to October 31, 2019 with a maximum facility draw of CAD 180 million under the Credit Facility and a CAD 5 million Excess Cash provision. Holders of the Secured Notes have agreed to the extension of the Credit Facility and to a 31 day extension of the maturity date under the October Notes to November 18, 2019. The Company will continue to operate its free cash flow positive business as usual. This short-term extension will allow the Company to continue to advance discussions with its lenders and noteholders with the objective of completing a long-term extension transaction. The mutual goal of Pengrowth and its senior debtholders is to negotiate a three year extension that allows the Company the flexibility to reduce its outstanding debt with the benefit of additional time and improved market conditions.