Mr. Patrick Oliver reports

BONTERRA ENERGY CORP. ANNOUNCES APPROVAL OF ALL RESOLUTIONS AT ANNUAL & SPECIAL MEETING OF SHAREHOLDERS AND VOTING RESULTS

At Bonterra Energy Corp.'s annual and special meeting of shareholders, held on May 18, 2023, a total of 15,687,804 shares, representing 42.19 per cent of common shares outstanding, were represented in person or by proxy. Shareholders approved all resolutions listed in the management information circular dated April 3, 2023, including the election of each of the six nominees proposed as directors. The detailed results of the vote are set out herein.

Election of directors

The six director nominees proposed by management were elected by ballot. Proxies and in-person votes were received.

                VOTING RESULTS FOR ELECTION OF DIRECTORS

Director nominee         Votes for   Per cent    Votes withheld   Per cent

John J. Campbell        12,832,074      85.00%        2,265,296      15.00%
Stacey E. McDonald      12,739,939      84.39%        2,357,431      15.61%
Patrick G. Oliver       12,835,163      85.02%        2,262,207      14.98%
Jacqueline R. Ricci     12,739,949      84.39%        2,357,421      15.61%
D. Michael G. Stewart   14,954,054      99.05%          143,316       0.95% 
Rodger A. Tourigny      12,912,916      85.53%        2,184,454      14.47%

Appointment of auditor

The appointment of Deloitte LLP as auditor of the company was approved by show of hands. Proxies and in-person votes were received.

            VOTING RESULTS FOR AUDITOR

Votes for   Per cent    Votes withheld     Per cent

14,645,274     95.98%          613,197         4.02% 

Stock option plan

The approval of all unallocated options under the company's stock option plan was approved by ballot. Proxies and in-person votes were received.

      VOTING RESULTS FOR STOCK OPTION PLAN

Votes for    Per cent    Votes against    Per cent

10,077,490      66.75%       5,019,880       33.25%

Bonterra Energy is a conventional oil and gas corporation with operations in Alberta, Saskatchewan and British Columbia, focused on its strategy of long-term, sustainable growth and value creation for shareholders. The company's shares are listed on the Toronto Stock Exchange under the symbol BNE.