Prairie Provident Announces New Board Member and Creation of ESG Board Committee

CALGARY, March 03, 2022 - Prairie Provident Resources Inc. ("Prairie Provident", "PPR" or the "Company") is pleased to announce the appointment of Ms. Bettina Pierre-Gilles to its Board of Directors (the "Board"), effective March 03, 2022 and the creation of its Environmental, Social and Governance (ESG) Board Committee.

With more than 20 years of experience across the conventional and renewable energy sector, significant knowledge of capital markets and M&A activity, Prairie Provident believes Ms. Pierre-Gilles will bring valuable insights and meaningful contributions to the Board. Along with her ICD.D designation from the Institute of Corporate Directors program, Ms. Pierre-Gilles brings extensive experience serving on corporate boards in a variety of Committee Chair positions which will add further diversity of thought and corporate governance skills to Prairie Provident's Board.

Currently, Ms. Pierre-Gilles is the Chair and Managing Director of the Piikani Investment Corporation, a Treaty 7 First Nations based in Southern Alberta; Board Member of Bow Valley College, where she is the Chair of the Community Relations Committee for the College; Board of Trustees Member of Queen's University's Board of Governors; Associate Mentor at the Creative Destruction Lab ("CDL") Rockies; and Junior Achievement of Southern Alberta Business Program Mentor.

She holds the Certified Professional Accountant (CPA-CMA) designation, an ICD.D designation from the Institute of Corporate Directors of Canada and received an MBA from Queen's University. Ms. Pierre-Gilles will be appointed Chair of the newly formed ESG Committee and will serve as a member of the Corporation's Audit Committee.

Recognizing the importance of Board oversight of sustainability, the Board has established a stand-alone ESG Committee. As Chair, Ms. Pierre-Gilles will lead the Committee's work with management to prepare PPR's inaugural ESG report and develop ESG strategy, targets, and management systems.

ABOUT PRAIRIE PROVIDENT:

Prairie Provident is a Calgary-based company engaged in the exploration and development of oil and natural gas properties in Alberta. The Company's strategy is to optimize cash flow from our existing assets, grow a base waterflood business in Evi (Slave Point Formation) and Michichi (Banff Formation) providing stable low decline cash flow, and organically develop a new complementary play to facilitate reserves and production growth. The Princess area in Southern Alberta continues to provide short cycle returns through successful development of the Glauconite and Ellerslie Formations.

For further information, please contact:

Prairie Provident Resources Inc.
Tony Berthelet
President and Chief Executive Officer
Tel: (403) 292-8125
Email: tberthelet@ppr.ca