Mr. Jean-Paul Lachance reports

PEYTO EXPLORATION & DEVELOPMENT CORP. ANNOUNCES VOTING RESULTS FROM ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS Peyto

The nominees listed in the information circular/proxy statement dated April 2, 2025, were elected as directors of Peyto Exploration & Development Corp. at Peyto's annual and special meeting of shareholders held on May 22, 2025. The detailed results of the votes for the election of directors, the appointment of an auditor, the advisory vote on executive compensation and the approval of the total shareholder return rights plan held at the meeting are set out herein.

Election of directors

On a vote by ballot, each of the nine nominees proposed by management was elected as a director of Peyto (see an attached table).

Appointment of auditor

By ordinary resolution passed via ballot, Deloitte LLP was appointed as auditor of Peyto until the next annual meeting, or until its successor is duly appointed, and the directors were authorized to fix the auditor's remuneration. The results of the ballot are provided in an attached table.

Advisory vote on executive compensation

By ordinary resolution passed via ballot, the non-binding advisory resolution concerning Peyto's approach to executive compensation was approved. The results of the ballot are provided in an attached table.

Approval of the total shareholder return rights plan

By ordinary resolution passed via ballot, Peyto's total shareholder return rights plan was ratified and approved. The results of the ballot are provided in an attached table.