Mr. Eugene Woychyshyn reports

NXT ENERGY SOLUTIONS INC. ANNOUNCES RESULTS OF AGM

NXT Energy Solutions Inc. has provided the voting results from its annual meeting of shareholders held on July 15, 2024.

Shareholders approved the following:

• Election of directors: Eight directors of the company were elected to hold office until the next annual meeting of shareholders, or until their successors are duly elected or appointed.
• Appointment of auditor: MNP LLP was appointed as the auditor of the company for the next year at a remuneration to be determined by the board of directors.
• Control person resolution: The resolution to approve MCAPM LP as a new control person was approved.
• Insider participation resolution: The resolution to allow MCAPM the option to convert convertible debentures acquired in private placements into the company's common shares, over 10 per cent of the company's outstanding shares, was approved.
• Security-based compensation arrangement: The resolution to allow the company's directors the option to convert convertible debentures acquired in a private placement into the company's common shares was approved.

Further details are set out in the company's information circular dated June 13, 2024, posted on the company's website and filed on SEDAR+.

Specific voting results are provided in an attached table.

About NXT Energy Solutions Inc.

NXT Energy is a Calgary-based technology company, the proprietary airborne SFD survey system of which, applied in numerous basins around the world, uses the principles of quantum mechanics to infer stress anomalies of exploration interest. The method can be used both onshore and offshore to remotely identify areas conducive to fluid entrapment in order to recommend areas with commercial hydrocarbon and/or geothermal potential. The SFD survey system enables the company's clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy. NXT Energy provides its clients with an effective and reliable method to reduce time, costs and risks related to exploration.