Baytex Energy Corp 2025年度报告

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the YesNo Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.☐Emerging growth company If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if theregistrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† † The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board toits Accounting Standards Codification after April 5, 2012. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this Annual Report on Form 40-F are forward-looking statements within the meaning of Section 21E of theSecurities and Exchange Act of 1934, as amended (the "Exchange Act") and Section 27A of the Securities Act of 1933, as amended. Principal Documents The following documents are filed as part of this Annual Report on Form 40-F and incorporated herein by reference: A.Annual Information Form For the Registrant's Annual Information Form for the year ended December 31, 2025, see Exhibit 99.1 of this Annual Report on Form40-F. B.Audited Annual Financial Statements For the Registrant's Audited Consolidated Financial Statements for the year ended December 31, 2025, including the report of itsIndependent Registered Public Accounting Firm with respect thereto, see Exhibit 99.2 of this Annual Report on Form 40-F. C.Management's Discussion and Analysis For the Registrant's Management's Discussion and Analysis of the operating and financial results for the year ended December 31,2025, see Exhibit99.3 of this Annual Report on Form 40-F. D. Supplemental Oil and Gas Information For the Registrant's Supplemental Disclosures about Extractive Activities - Oil and Gas (unaudited), see Exhibit 99.4 of this AnnualReport on Form 40-F. Controls and Procedures A.Certifications The required disclosure is included in Exhibits 99.5, 99.6, 99.7 and 99.8 of this Annual Report on Form 40-F. B.Disclosure Controls and Procedures As of the end of the Registrant's fiscal year ended December 31, 2025, an internal evaluation was conducted under the supervision ofand with the participation of the Registrant's management, including the Chief Executive Officer and the Chief Financial Officer, ofthe effectiveness of the design and operation of the Registrant's "disclosure controls and procedures" (as defined in Rule 13a-15(e)under Exchange Act). Based on that evaluation, the Chief Executive Officer and the Chief Financial Officer concluded that the designand operation of the Registrant's disclosure controls and procedures were effective to ensure that the information required to be It should be noted that while the Chief Executive Officer and the Chief Financial Officer believe that the Registrant's disclosurecontrols and procedures provide a reasonable level of assurance that they are effective, they do not expect that the Registrant'sdisclosure controls and procedures will prevent all errors and fraud. A control system, no matter how well conceived or operated, can C.Management's Annual Report on Internal Control Over Financial Reporting Management's Annual Report on Internal Control Over Financial Reporting is included in the Management's Report that accompaniesthe Registrant's Audited Consolidated Financial Statements for the year ended December 31, 2025, filed as Exhibit 99.2 to this Annual D.Attestation Report of Independent Registered Public Accounting Firm The Attestation Report of the Registrant's Auditor is included in the Report of Independent Registered Public Accounting Firmthataccompanies the Registrant's Audited Consolidated Financial Statements for the year ended December 31, 2025, filed as Exhibit E.Changes in Internal Control Over Financial Report