Mr. Anthony Marino reports

TENAZ ENERGY CORP. ANNOUNCES 2024 ANNUAL MEETING RESULTS

Tenaz Energy Corp. has released the results from its annual meeting of shareholders, held on June 14, 2024. A total of 7,626,698 common shares, representing approximately 28 per cent of the company's issued and outstanding common shares, were represented in person or by proxy at the meeting.

All of the matters put forward before the shareholders, as set out in the company's management information circular dated May 10, 2024, were approved by the requisite majority of votes cast at the meeting.

Election of directors

Nominees were elected as directors of the company for the ensuing year, with the specific voting results being set out herein.

Nominee          Votes for    % for    Votes withheld    % withheld

Anna Alderson    7,310,426   99.220%           57,496         0.780%   
John Chambers    7,323,204   99.393%           44,718         0.607%   
Anthony Marino   7,323,204   99.393%           44,718         0.607%   
Marty Proctor    7,322,504   99.384%           45,418         0.616%   
Varinia Radu     7,310,826   99.225%           57,096         0.775%   
Mark Rollins     7,323,604   99.399%           44,318         0.601%   

Other matters

At the meeting, the shareholders of the company also: (i) fixed the number of directors at six for the ensuing year; and (ii) approved the appointment of Deloitte LLP, chartered professional accountants, as the company's auditor and authorized the directors to fix its remuneration.

Organizational update

Michael Kaluza has notified Tenaz of his intention to retire from the position of chief operating officer, capping an extraordinarily successful 47-year career in the energy industry. Mr. Kaluza was a founding member of the company's executive team and has played an important role in Tenaz's progress since 2021. It extends its gratitude for his numerous contributions to Tenaz and to earlier ventures with members of the Tenaz team.

It is pleased to announce the appointment of Jenson Tan as chief operating officer to replace Mr. Kaluza after an appropriate transition period. Mr. Tan brings 22 years of energy industry experience to his new role, most recently serving as vice-president of business development at Vermilion Energy. He has extensive operating, engineering and management experience in a wide range of international, U.S. and Canadian projects, including engineering and asset management of a number of offshore production and development fields. Mr. Tan has a bachelor of science degree in petroleum engineering from the University of Texas.

About Tenaz Energy Corp.

Tenaz is an energy company focused on the acquisition and sustainable development of international oil and gas assets. At present, Tenaz has domestic operations in Canada along with offshore natural gas assets in the Netherlands. Its domestic operations consist of a semi-conventional oil project in the Rex member of the Upper Mannville group at Leduc-Woodbend in central Alberta. Its Netherlands natural gas assets are located in the Dutch sector of the North Sea. Tenaz's common shares are listed for trading on the Toronto Stock Exchange under the symbol TNZ.