Paramount Resources Ltd. — AGM Information 2020

Apr 1, 2020

Paramount resources Ltd.

NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

An annual general meeting (the "Meeting") of the shareholders of Paramount Resources Ltd. (the "Corporation") will be held at the Corporation's offices at 2800, 421 – 7th Avenue S.W., Calgary, Alberta, on Thursday, May 7, 2020 at 10:30 a.m. (Calgary time). The purpose of the Meeting is to:

1. receive the audited consolidated financial statements of the Corporation for the fiscal year ended December 31, 2019 and the independent auditors' report thereon;
2. elect the directors of the Corporation;
3. appoint the auditors of the Corporation; and
4. transact any other business as may properly come before the Meeting and any adjournment(s) of the Meeting.

By order of the Board of Directors

(signed) "E. Mitchell Shier" Corporate Secretary

Calgary, Alberta, Canada March 20, 2020

Due to restrictions on mass gatherings implemented by the Government of Alberta in response to the COVID-19 (Coronavirus) outbreak and out of concern for the wellbeing of all participants, shareholders and guests will not be permitted to physically attend the Meeting. Shareholders are encouraged to exercise their voting rights by mail, telephone or internet in advance of the Meeting. A live audio webcast of the Meeting will be available. The details for the webcast will be announced prior to the Meeting via press release and will be available on the Corporation's website at www.paramountres.com.