Mr. Gary Guidry reports

GRAN TIERRA ENERGY INC. ANNOUNCES ISSUANCE OF NEW 9.500% SENIOR SECURED AMORTIZING NOTES DUE 2029 AS PART OF THE PREVIOUSLY ANNOUNCED EXCHANGE OFFERS

Gran Tierra Energy Inc. has issued $487.59-million (U.S.) aggregate principal amount of its 9.5 per cent senior secured amortizing notes due 2029 (the new notes) as part of its previously announced offers to exchange the 6.25 per cent senior notes due 2025 (the 2025 notes), issued by Gran Tierra Energy International Holdings Ltd., and the 7.75 per cent senior notes due 2027 (the 2027 notes), issued by the company.

Gary Guidry, president and chief executive officer of Gran Tierra, commented:

"We are very pleased with the successful completion of the exchange offers, which we believe is highly beneficial for both Gran Tierra and our stakeholders. The company's balance sheet is now stronger due to an improved amortization schedule, less restrictive conditions and overall reduced leverage. The exchange offers, in tandem with our solid operating cash flow, provide additional financial flexibility and a stronger platform as the company continues to execute its strategy of delivering profitable production growth, free cash flow generation and value creation for stakeholders. Our mandate to develop high-value resource opportunities to deliver top-quartile returns remains unchanged. We intend to continue to high-grade our portfolio through our integrated strategy of acquiring, exploring, developing, producing and enhancing high-quality oil and gas assets. We appreciate the support received from our bond investor base as we believe it demonstrates the underlying confidence in Gran Tierra's producing assets, as well as our business strategy, especially in today's volatile markets."

Benefits of the exchange offers include:

• Maturities extension: The issuance of the new notes results in an extension of maturity to 2029. The new notes also reduce Gran Tierra's refinancing risk by flattening the debt principal repayments by amortizing the repayments over a longer period. The new notes' principal repayment schedule also better aligns with the company's projected cash flows.
• Financial flexibility: The exchange offers unlock capital for strategic uses and provides additional flexibility on capital allocation, including capital expenditures required for organic growth, mergers and acquisitions activities, and potential shareholder returns via share buybacks.
• Strengthened balance sheet and overall debt reduction: The $60-million of cash deployed as part of the exchange offers reduces Gran Tierra's overall gross debt.
• Enhanced liquidity: Combining both the 2025 notes and the 2027 notes into a single series of new notes with $487.59-million (U.S.) aggregate principal amount enhances trading liquidity for noteholders.
• Positive rating agency view: Rating agencies are taking a positive view on the credit due to the new senior secured structure, prepayment of 2025 notes and the new amortization profile.
• Retaining supportive existing bondholder base: The broad investor base participation in the exchange offers is a clear testament to the market's confidence in and support of Gran Tierra's strategy.

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 new growth opportunities that would further strengthen the company's portfolio.

We seek Safe Harbor.