Mr. Alfred Sorensen reports

PIERIDAE ANNOUNCES VOTING RESULTS REPORT FOLLOWING ITS ANNUAL SHAREHOLDER MEETING

In accordance with Section 11.3 of National Instrument 51-102 Continuous Disclosure Obligations, Pieridae Energy Ltd. has released its voting results report that briefly describes the matters voted upon and the outcome of the votes at the annual meeting of shareholders of Pieridae held on May 11, 2023. Each of the matters acted upon at the meeting is described herein and in greater detail in the 2023 notice of annual meeting of shareholders and management information circular dated March 27, 2023, a copy of which is available on SEDAR.

Pieridae had 159,066,975 common shares outstanding and eligible to vote at the meeting, of which 64,397,354 (40.48 per cent) were voted.

Voting results

1. Number of directors: 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 the matter as shown in the attached table.

2. Election of directors: By resolution passed by ballot, the following eight nominees were each elected as a director of the company to serve until the next annual meeting of shareholders of the company, or until their successors are elected or appointed. The results of the vote were as shown in the attached table.

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

3. Appointment of auditor: By a resolution passed by ballot, Ernst & Young LLP was appointed as the auditor of the company to hold office until close of the next annual meeting of shareholders of the company. Proxies were received in the matter as shown in the attached table.

4. Executive compensation: By a non-binding resolution passed via ballot, the advisory vote on executive compensation, also known as "say on pay," as described in the management information circular, was approved. Proxies were received in the matter as shown in the attached table.

About Pieridae Energy Ltd.

Pieridae is a Canadian energy company headquartered in Calgary, Alta. Through a number of corporate and asset acquisitions, Pieridae has grown into a significant upstream and mid-stream producer with assets concentrated in the Canadian foothills, producing conventional natural gas, NGLs, condensate and sulphur. Pieridae provides the energy to fuel people's daily lives while supporting the environment and the transition to a lower-carbon economy. Pieridae's common shares trade on the Toronto Stock Exchange under the symbol PEA.