Tourmaline Oil Corp.'s Board of Directors has approved an increase to the quarterly base dividend effective Second Quarter 2024 to $0.32/share ($1.28/share on an annualized basis), representing an increase of 7% over the previous quarterly base dividend. The quarterly dividend is expected to be declared in early June and payable on June 28, 2024, to shareholders of record at the close of business on June 14, 2024. The special dividend is, and the quarterly base dividend will be, designated as an eligible dividend for Canadian income tax purposes.