CALGARY, AB, Dec. 8, 2025 – Vermilion Energy Inc. (“Vermilion” or the “Company”) (TSX: VET) (NYSE: VET) has filed an early warning report (the “Early Warning Report”) regarding its investment in Coelacanth Energy Inc. (“Coelacanth”).
On December 8, 2025, Vermilion divested 30,000,000 common shares (“Common Shares”) of Coelacanth in a privately negotiated deal with a consortium of purchasers. The shares were sold at $0.76 each, generating total proceeds of $22,800,000 (the “Transaction”). This sale represented over 2% of the total issued and outstanding Common Shares, which necessitated the filing of the Early Warning Report.
Before the Transaction, Vermilion controlled a total of 110,179,104 Common Shares, equating to roughly 20.7% of the total. After the sale, its holdings now stand at 80,179,104 Common Shares, representing approximately 15.0%.
The sale is part of Vermilion’s ongoing strategy to reduce debt and strengthen its business resilience. Although an amendment to the investor rights agreement with Coelacanth restricts Vermilion from selling more than 60,000,000 of its original 110,179,104 shares before June 8, 2026, without consent, the company may still reduce its stake further in the short term based on market, economic, industry, and other relevant conditions. Vermilion will continue to assess its investment and may adjust its holdings in Coelacanth securities in the future, depending on these factors and any applicable agreement amendments.
This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. The Early Warning Report is available for review under Coelacanth’s profile on SEDAR+ at .
About Vermilion
Vermilion is an international gas producer focused on creating value by acquiring, exploring, and developing liquids-rich natural gas assets in Canada and conventional natural gas in Europe, while also optimizing its portfolio of low-decline oil assets. This diversification provides substantial free cash flow through direct exposure to global commodity prices and greater flexibility in capital allocation.
The company’s core priorities are health and safety, environmental stewardship, and profitability, in that sequence. The safety of the public and its employees, along with protecting the environment, are paramount. Vermilion also places a strong emphasis on strategic community investment across all its operational regions.
Vermilion is listed on the Toronto Stock Exchange and the New York Stock Exchange under the ticker symbol VET.
SOURCE Vermilion Energy Inc.