Mr. Gary Guidry reports

GRAN TIERRA ENERGY INC. PROVIDES OPERATIONAL UPDATE

Gran Tierra Energy Inc. has provided an operational update. All dollar amounts are in United States dollars, and production amounts are on an average working interest before royalties (WI) basis unless otherwise indicated. Per-barrel (bbl) and bbl of oil per day (BOPD) amounts are based on WI sales before royalties.

Message to shareholders

Gary Guidry, president and chief executive officer of Gran Tierra, commented: "During 2023 year to date, Gran Tierra has completed most of its development program for 2023 with the drilling of 19 development wells, consisting of 12 new production wells and seven new water injection wells. We remain on track and on budget with our development and exploration drilling programs for 2023. We are also very pleased with the exciting oil production results that we are seeing from our Acordionero, Costayaco and Moqueta infill development well drilling programs.

"The success of our 2023 development program has been an important factor in our ongoing ramp-up in oil production during 2023 and continues to demonstrate the excellent production capabilities of our major assets. We expect the ongoing positive results from our waterflood projects in the Acordionero, Costayaco, Moqueta and Suroriente fields to continue adding oil production from existing and new wells for the remainder of 2023. We are also beginning to see positive results in our polymer flood project in Acordionero.

"By completing the majority of our development program in the first five months of 2023, we expect to realize higher oil production for the rest of 2023. With most of our development capital behind us, this should allow us to maximize cash flow. We believe the company is well positioned to optimize value and grow production from our assets through continued enhanced oil recovery activities as demonstrated by our total current average production of approximately 36,800 BOPD."

Operations update

Production:

• Gran Tierra has begun to ramp up production in the latter half of second quarter 2023, as newly drilled Acordionero, Costayaco and Moqueta oil wells have been steadily brought on-line. Gran Tierra's total current average production is approximately 36,800 BOPD.
• During second quarter to date 2023, the company has achieved total average production of approximately 33,600 BOPD.
• During 2023 year to date, Gran Tierra has achieved total average production of approximately 32,400 BOPD, which is within the company's previous forecast range for 2023 of 32,000 to 34,000 BOPD.

Development:

• During 2023 year to date, Gran Tierra has drilled a total 19 development wells in Colombia, consisting of 12 new production wells and seven new water injection wells:
  • Acordionero:
    • Development drilling resumed in January, 2023, with a 10-well program that was completed in April, 2023.
    • Six wells are on production and four wells are on water injection.
    • As a result of the development program and continued good performance of the field's enhanced oil recovery through waterflood, Acordionero has achieved average production of approximately 18,600 BOPD during second quarter to date 2023, which is the highest level since May, 2019.
    • During second quarter 2023, Gran Tierra achieved a new water injection record of approximately 72,000 bbl of water injected per day.
    • The polymer flood pilot was expanded with the start-up of a third polymer injection well during second quarter 2023. Acordionero's polymer flood pilot is expected to increase the field's ultimate oil recovery.
  • Costayaco:
    • Gran Tierra has finished drilling all seven wells in the company's 2023 Costayaco development campaign. The program consisted of four production wells and three water injection wells.
    • Two production wells are currently on long-term production test and two water injection wells started up during second quarter 2023.
    • A summary of the recent production tests for the two new Costayaco production wells is provided herein.

• The remaining two new production wells and one new water injection well are expected to be completed and tied in during June, 2023.
• The completion and stimulation of the remaining production wells and waterflood optimization through additional water injection are expected to continue to grow Costayaco's oil production throughout the year.

Moqueta:

• Two production wells that were drilled during first quarter 2023 have both been stimulated and placed on production.
• A summary of the recent production tests for the three newest Moqueta production wells is provided herein.

• One production well is currently being drilled, with one additional production well expected to be drilled during late June to early July, 2023.
• The two additional production wells, along with two planned conversions of existing wells into water injection wells, are expected to grow Moqueta's oil production and optimize its waterflood.

About Gran Tierra Energy Inc.

Gran Tierra Energy, together with its subsidiaries, is an independent international energy company currently focused on oil and natural gas exploration and production in Colombia and Ecuador. The company is currently developing its existing portfolio of assets in Colombia and Ecuador and will continue to pursue additional growth opportunities that would further strengthen the company's portfolio. The company's common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE.

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