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Pieridae Announces Voting Results Report Following Its Annual Meeting of Shareholders

Pieridae Alberta Production Ltd.Pieridae Alberta Production Ltd.

Pieridae Alberta Production Ltd.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR
BROADCAST IN THE UNITED STATES

CALGARY, Alberta, May 9, 2024 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (TSX: PEA) announced today that, in accordance with section 11.3 of Regulation 51-102 respecting Continuous Disclosure Obligations, the Company has published its report on the voting results which briefly describes the questions voted on and the results of the votes on The annual meeting of shareholders (the “Meeting”) of Pieridae held on May 9, 2024. Each of the matters discussed at the meeting is described below and in more detail in the notice of the annual meeting of shareholders of 2024 and in the management information circular dated March 25, 2024, a copy of which is available on SEDAR.

Pieridae had 159,099,336 common shares outstanding and entitled to vote at the meeting, of which 64,197,292 (40.35%) were voted on.

VOTING RESULTS

1. Number of administrators: By a resolution passed by ballot, the number of directors of the Company to be elected at the meeting was approved at eight. Proxies were received in this matter as follows:

Votes for

Votes against

Number

Percent

Number

Percent

48,120,568

74.96

16,076,724

25.04

2. Election of directors: By resolution adopted by ballot, the following eight nominees were each elected directors of the Corporation to serve until the next annual meeting of shareholders of the Corporation, or until their successors are elected or appointed. The results of the vote were as follows:

Candidate

Votes for

Votes retained

Number

Percent

Number

Percent

Charles Boulanger

46,143,859

74.14

16,096,708

25.86

Richard Couillard

45,977,043

73.87

16,263,524

26.13

Doug Dreisinger

46,143,634

74.14

16,096,933

25.86

Gail Harding, KC

46,138,566

74.13

16,102,001

25.87

Andrew Judson

46,083,551

74.04

16,157,016

25.96

Patricia McLeod, KC

46,088,880

74.05

16,151,687

25.95

Darcy Reding

61,942,161

99.52

298 406

0.48

Kiren Singh

46,132,030

74.12

16,108,537

25.88

A biography of the board members is available in the management information circular.

3. Appointment of auditors: By a resolution passed by ballot, Ernst & Young LLP has been appointed as auditor of the Company to serve until the close of the next annual meeting of shareholders of the Company. Proxies were received in this matter as follows:

Votes for

Votes retained

Number

Percent

Number

Percent

64,129,917

99.90

67,375

0.10

4. Executive remuneration: By a non-binding resolution adopted by ballot, the advisory vote on executive compensation, also known as the “advisory vote on compensation,” as described in the management information circular, was approved. Proxies were received in this matter as follows:

Votes for

Votes against

Number

Percent

Number

Percent

61,145,510

98.24

1,095,057

1.76

ABOUT PIERIDAS

Pieridae is a Canadian energy company headquartered in Calgary, Alberta. The Company is a major upstream producer and toll processor of natural gas, NGLs, condensates and sulfur from the Canadian foothills and adjacent regions of Alberta and northeastern British Columbia. Pieridae’s vision is to provide responsible and affordable natural gas and derivative products to meet the energy security needs of society. Pieridae’s common shares trade on the TSX under the symbol “PEA”.

For more information, visit www.pieridaeenergy.comor please contact:

Darcy Reding, President and CEO

Adam Gray, CFO

Telephone: (403) 261-5900

Telephone: (403) 261-5900

Investor Relations

[email protected]

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.