Ms. Audrey Mascarenhas reports

QUESTOR TECHNOLOGY INC. ANNOUNCES RECORD 2013 FINANCIAL RESULTS

Questor Technology Inc. has released its financial and operating results for the year ended Dec. 31, 2013. The company's audited annual financial statements have been prepared in accordance with international financial reporting standards.

The company reported the highest profit in its history of $2,544,049 (10.1 cents per basic share), 145 per cent higher than profit of $1,040,356 (4.2 cents per basic share) for the year ended Dec. 31, 2012. The increase in profit was due to increased incinerator sales during the year, partially offset by lower rental and combustion services revenues, and increased administration costs.

                 FINANCIAL HIGHLIGHTS SUMMARY

                                  For the year ended Dec. 31,
                                         2013           2012

Revenue                           $ 9,574,950    $ 6,684,475
Gross profit                        4,725,576      3,078,180
EBITDA                              3,454,374      1,723,363
Profit and total comprehensive
income                              2,544,049      1,040,356
Cost of sales as a percentage of
revenue                                 50.6%          53.9%
Funds flow from operations
before movements in non-cash
working capital                     3,543,893      1,826,443

"We continued to penetrate the U.S. market moving from 47 per cent of total unit sales revenue last year to 52 per cent this year. In addition, with a second unit going to Russia in 2013 and two into Europe, our exposure in those markets continues to grow. While the number of units we sold in 2013 was more than double the prior year, current year sales were muted by the deferral of the anticipated fourth quarter delivery of eight units to a Canadian oil sands operator. Those units were delivered in the first quarter of 2014," said Audrey Mascarenhas, president and chief executive officer. "In 2013 we sold five units from our rental fleet to customers with short delivery times frames and have more units in fabrication than we have ever had in the past to meet upcoming sale and rental commitments, using cash generated from operations. We expect demand for our incinerators to intensify, particularly in the United States as the effective date for the new Environmental Protection Agency regulations draws nearer.

"Questor's product quality and combustion expertise are becoming more recognized on a daily basis globally. Our incineration technology is unique in its ability to allay public concerns regarding air quality and is capable of meeting emissions standards across a wide range of applications. Emissions legislation introduced in the United States and Europe are expected to continue to increase interest in our incinerators as companies look for solutions to flaring and emissions control.

"We are well positioned to pursue growth opportunities in North America and Europe in the coming year."

Operational highlights for 2013

Relative to the company's strategic priorities, the following selected events and achievements demonstrate Questor's progression in 2013:

• Generated revenue of $9,574,950, the highest in the company's history, up 43 per cent from the prior year;
• Demonstrated the company's technical expertise and competence in the destruction of low-heat-content gases through the deployment of incineration equipment and related technology to shale gas and oil sands developments, and to amine, dehydration, and other crude oil and natural gas processing applications. As a result, certain customers have identified Questor's technology as best practice and specify the use of the company's solutions in their tenders to third parties for field equipment;
• Exploited the growing demand arising from the industry's focus on shale gas opportunities investing $4.4-million in 2013 in the fabrication of units for rental fleet additions or for sale to customers with short lead times;
• Delivered in second quarter 2013 the second of the company's incineration units into Russia. The Russian market holds strong potential for Questor as that country focuses on opportunities to reduce waste gas flaring. Additional orders for sale or rental units in Russia are expected to be received in 2014;
• Advanced the development and commercialization of a process to recover waste heat from incineration and convert the heat to power, purchasing in early 2014 all of the outstanding shares of ClearPower Systems Inc., which has prototype technology to deliver 50 kilowatts of power from waste heat;
• Engaged in discussions with fabricators in Europe with respect to the potential to have incinerators for sale or rent in European markets fabricated in closer proximity to the customer;
• Built market awareness and recognition for Questor's expertise in matters relating to air quality through presentations made by invitation at several events worldwide including:
  • Ms. Mascarenhas made a presentation called "Clearing the Air" in February, 2013, as part of an Alberta oil and gas mission to Poland and again in mid-May at the ACI Tight and Shale Gas Summit in Istanbul, Turkey.
  • She also presented, along with the company's chief operating officer, to senior executives at several major U.S. oil and gas companies in Houston in late April of 2013 regarding capabilities of the company's incinerators/thermal oxidizers.
  • On May 10, 2013, Ms. Mascarenhas made a presentation at the Western Energy Summit entitled "Climbing to New Heights with Clean Air Solutions."
  • A further mission took Ms. Mascarenhas in late May of 2013 to Bahrain, Abu Dhabi and Oman, where she participated in the latter country in workshops focused on clean air solutions, and attended meetings with corporate and government individuals who had expressed interest in Questor's technology.
  • Ms. Mascarenhas attended at the SelectUSA Investment Summit in Washington on Oct. 31, 2013.
  • She was keynote speaker at the Society of Petroleum Engineers (SPE) luncheon on Nov. 21 in Oklahoma City.
  • She travelled to Mexico at the end of November to present at the Pemex Technology Exchange Forum.
• Copies of these presentations are available on the company's website.

Subsequent to Dec. 31, 2013

At Dec. 31, 2013, the company had confirmed incinerator sales orders of $4.0-million. Since the beginning of 2014, confirmed incinerator sales orders for an additional $2.6-million have been received. Of the $6.6-million of associated revenue to be recorded in relation to these orders, $2.8-million is expected to be recognized in first quarter 2014 based on customer delivery schedules and $3.8-million in second quarter 2014. In addition, long-term rental contracts have been signed with four new customers, three of which will be using the company's larger units for extended periods.

Questor Technology was selected to the 2014 TSX Venture 50, first out of 10 in its category of clean technology. This is the second year in a row the company has earned the honour which is a ranking of strong performers on the TSX Venture Exchange. It comprises 10 companies from each of the following five sectors: mining, oil and gas, diversified industries, clean technology, and technology and life sciences.

Shareholders are invited to attend the company's annual general meeting to be held on Tuesday, June 24, 2014, at 3 p.m. MT in the company's corporate offices at 1121, 940 Sixth Ave. SW, Calgary, Alta. In addition to the formal business items, management will be presenting an overview of Questor's results for the financial year ended Dec. 31, 2013, and first quarter ended March 31, 2014, and discussing the company's strategic initiatives for 2014.

Questor's audited financial statements and notes thereto, and management's discussion and analysis for the year ended Dec. 31, 2013, will be available shortly on the company's website and through SEDAR.

                                                                                                  
                      STATEMENT OF COMPREHENSIVE INCOME

                                                 For the year ended Dec. 31,
                                                        2013           2012

Revenue                                          $ 9,574,950    $ 6,684,475
Cost of sales                                     (4,849,374)    (3,606,295)
Gross profit                                       4,725,576      3,078,180
Administration (expense)                          (1,645,923)    (1,621,055)
Gain/(loss) on disposal of property and
equipment                                             14,457        (27,865)
Depreciation of property and equipment               (41,261)       (41,316)
Amortization of intangible assets                     (1,218)        (1,218)
Net foreign exchange gains                            91,363         10,603
Other income                                           9,689         23,997
Profit before tax                                  3,152,683      1,421,326
Income tax (expense)                                (608,634)      (380,970)
Profit and total comprehensive income            $ 2,544,049    $ 1,040,356
Earnings per share
Basic                                                $ 0.101        $ 0.042
Diluted                                              $ 0.098        $ 0.041

We seek Safe Harbor.