Advantage Announces Renewal of Credit Facility at $400 Million

Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce the renewal of the Corporation's existing $400 million revolving credit facility, following completion of its annual review by the syndicate of lenders.

Upon closing of the previously announced sale of a 12.5% interest in the Glacier Gas Plant for $100 million in July 2020 (see Advantage news release dated April 13, 2020), Advantage and the lending syndicate have agreed to adjust the revolving credit facility to $350 million, resulting in a significant net increase in liquidity and further strengthening of the balance sheet.

Advantage would like to acknowledge the continued strong support from the lending syndicate of long-standing business partners.

For further information: Craig Blackwood, Chief Financial Officer, (403) 718-8005 OR Investor Relations, Toll free: 1-866-393-0393; ADVANTAGE OIL & GAS LTD., 2200, 440 - 2nd Avenue SW, Calgary, Alberta T2P 5E9, Phone: (403) 718-8000, Fax: (403) 718-8332, Web Site: www.advantageog.com, E-mail: ir@advantageog.com