X0202 SCHEDULE 13G/A 0001839103 XXXXXXXX LIVE 4 Common Shares 06/30/2026 0001279495 BAYTEX ENERGY CORP. 07317Q105 2800, 520 - 3rd Avenue S.W. Calgary A0 T2P 0R3 Rule 13d-1(c) JSTX Holdings, LLC a DE 0.00 31387326.00 0.00 31387326.00 31387326.00 N 4.40 PN Calculated based on 712,593,536 shares of the Issuer's Common Shares outstanding as of June 19, 2026, as reported in an exhibit to a Form 6-K filed by the Issuer with the SEC on June 26, 2026. Juniper Capital III GP, L.P. a DE 0.00 31387326.00 0.00 31387326.00 31387326.00 N 4.40 PN Calculated based on 712,593,536 shares of the Issuer's Common Shares outstanding as of June 19, 2026, as reported in an exhibit to a Form 6-K filed by the Issuer with the SEC on June 26, 2026. Juniper Capital Advisors, L.P. a DE 0.00 31387326.00 0.00 31387326.00 31387326.00 N 4.40 PN Calculated based on 712,593,536 shares of the Issuer's Common Shares outstanding as of June 19, 2026, as reported in an exhibit to a Form 6-K filed by the Issuer with the SEC on June 26, 2026. Edward Geiser a DE 0.00 31387326.00 0.00 31387326.00 31387326.00 N 4.40 IN Calculated based on 712,593,536 shares of the Issuer's Common Shares outstanding as of June 19, 2026, as reported in an exhibit to a Form 6-K filed by the Issuer with the SEC on June 26, 2026. BAYTEX ENERGY CORP. 2800, 520 - 3rd Avenue S.W. Calgary, Alberta T2P 0R3 This statement is filed by the entities and persons listed below, all of whom together are referred to herein as the "Reporting Persons": 1. JSTX Holdings, LLC 2. Juniper Capital III GP, L.P. 3. Juniper Capital Advisors, L.P. 4. Edward Geiser 2727 Allen Parkway, Suite 1850 Houston, TX 77019 See responses to Item 4 on each cover page Y See responses to Item 9 on each cover page See responses to Item 11 on each cover page See responses to Item 5 on each cover page See responses to Item 6 on each cover page See responses to Item 7 on each cover page See responses to Item 8 on each cover page All percentages of beneficial ownership were calculated based on 712,593,536 shares of the Issuer's Common Shares outstanding as of June 19, 2026, as reported in a Form 6-K filed by the Issuer with the SEC on June 26, 2026. 31,387,326 Common Shares are directly held by JSTX Holdings, LLC ("JSTX"), which is owned by Juniper Capital III, L.P., a Delaware limited partnership ("Fund III"). Juniper Capital III GP, L.P., a Delaware limited partnership ("Fund III GP"), is the sole general partner of Fund III and has dispositive power of the Common Shares. Fund III's agreement of limited partnership dictates that the disposition of a material interest held by Fund III, such as the investment in the Issuer, must be approved by two of the three members of the Investment Committee of Fund III GP, one of whom must be Edward Geiser. The day to day operations of Fund III are managed by Advisors, pursuant to a management agreement. Each of Fund III and Fund III GP, may be deemed to beneficially own the shares directly held by JSTX. Advisors, through separate management agreements, has authority to direct voting and disposition over 31,387,326 Common Shares directly held by JSTX. Advisors was formed on July 24, 2014, is a registered investment advisor under the Investment Advisers Act of 1940, as amended, and is principally engaged in the business of advising private funds and separate accounts that invest in securities for which it or its subsidiary serves as, direct or indirect, investment manager, including Fund III. Advisors is controlled by its general partner, Juniper Capital Advisors GP, LLC. Edward Geiser is the sole member of Juniper Capital Advisors GP, LLC. Each of Advisors and Mr. Geiser may be deemed to beneficially own all of the reported securities. The filing of this Statement shall not be construed as an admission that any of the Reporting Persons are, for the purpose of Section 13(d) or 13(g) of the Exchange Act, the beneficial owner of any securities covered by this Statement. N Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. Exhibit A -- Joint Filing Agreement, dated as of June 20, 2023, incorporated by reference to Exhibit A to the Schedule 13G filed June 21, 2023. JSTX Holdings, LLC /s/ Edward Geiser 07/14/2026 Juniper Capital III GP, L.P. /s/ Edward Geiser 07/14/2026 Juniper Capital Advisors, L.P. /s/ Edward Geiser 07/14/2026 Edward Geiser /s/ Edward Geiser 07/14/2026