Vermilion Energy Inc T.VET

Closing of Its Senior Unsecured Notes Offering

[Betteryear2]

CALGARY, AB, April 26, 2022 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX: VET) (NYSE: VET) announces the closing of our previously announced private offering (the "Offering") of US$400 million aggregate principal amount of 8-year senior unsecured notes (the "New Notes"), which were priced at 99.241% of par. The New Notes mature on May 1, 2030 and have a fixed coupon of 6.875% per annum, paid semi-annually on May 1 and November 1, commencing November 1, 2022. The Company has given irrevocable notices to the lenders of its revolving credit facility that it will use the net proceeds from the New Notes to reduce the amount outstanding on the revolving credit facility. Contemporaneous with the closing of the New Notes, the maturity date of Vermilion's revolving credit facility was extended to May 29, 2026 (from May 31, 2024) and the total facility amount was reduced to Vermilion's targeted level of $1.6 billion (from $2.1 billion).