Mr. Charle Gamba reports

CANACOL ENERGY LTD. ANNOUNCES MEETING RESULTS

At the annual general meeting held in Bogota, Colombia, on June 23, 2023, holders of common shares of Canacol: (i) elected Charle Gamba, Michael Hibberd, David Winter, Francisco Diaz, Juan Argento, Gonzalo Fernandez-Tinoco, Ariel Merenstein and Gustavo Gattass to the board of directors; and (ii) appointed KPMG LLP as Canacol's auditor.

The detailed results of the vote for the election of directors held at the meeting are set out herein.

Nominee                     Votes for    % for   Votes withheld   % withheld 

Charle Gamba               15,942,583   99.747%          40,511        0.253%   
Michael Hibberd            15,818,949   98.973%         164,145        1.027%   
David Winter               15,817,123   98.962%         165,971        1.038%   
Francisco Diaz             15,812,669   98.934%         170,425        1.066%   
Juan Argento               15,854,843   99.198%         128,251        0.802%   
Gonzalo Fernandez-Tinoco   15,323,116   95.871%         659,978        4.129%   
Ariel Merenstein           15,829,636   99.040%         153,458        0.960%   
Gustavo Gattass            15,947,496   99.777%          35,598        0.223%   

Further disclosure on the matters approved at the meeting can be found in the management information circular dated May 12, 2023, and the report of voting results for the meeting, each available on SEDAR.

About Canacol Energy Ltd.

Canacol is a natural gas exploration and production company with operations focused in Colombia. The corporation's common stock trades on the Toronto Stock Exchange, the OTCQX in the United States and the Colombia Stock Exchange under the ticker symbol CNE, CNNEF and CNE.C, respectively.