Mr. Gary Guidry reports

GRAN TIERRA ENERGY INC. ANNOUNCES PRICING OF AN ADDITIONAL $100 MILLION AGGREGATE PRINCIPAL AMOUNT OF ITS 9.500% SENIOR SECURED AMORTIZING NOTES DUE 2029

Gran Tierra Energy Inc. has priced its offering of an additional $100-million aggregate principal amount of its previously issued 9.500 per cent senior secured amortizing notes due 2029 in a private placement to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act of 1933, as amended, and to non-U.S. persons in transactions outside of the United States pursuant to Regulation S under the securities act and pursuant to certain prospectus exemptions in Canada.

Gran Tierra previously had outstanding $487.59-million (U.S.) aggregate principal amount of 9.500 per cent senior secured amortizing notes due 2029. The notes will have the same terms and provisions as the original notes, except for the issue price, and will form the same series as the original notes, including with respect to interest payments. Gran Tierra expects to close the offering on Feb. 6, 2024. Gran Tierra expects to receive net proceeds, after initial purchasers' discounts and commissions and estimated fees and offering expenses, of approximately $88.3-million. Upon settlement, the notes are expected to trade under the same Cusip number as the original notes, except that the notes sold pursuant to Regulation S under the securities act will have a different Cusip number than the original notes until 40 days after the issue date of the notes.

The notes will be guaranteed by certain subsidiaries of Gran Tierra. Gran Tierra intends to use the net proceeds from the offering to repay the outstanding amounts borrowed under its existing credit facility (after which the credit facility will be terminated), and any remaining net proceeds from the offering for general corporate purposes, which may include additional capital to appraise and develop exploration discoveries, repayment of other indebtedness, working capital, and/or acquisitions.

The offering is being made, and the notes are being offered and issued, only: (a) in the United States to investors who are reasonably believed to be qualified institutional buyers (as defined in Rule 144A under the securities act) in reliance upon the exemption from the registration requirements of the securities act; (b) outside of the United States to investors who are persons other than U.S. persons (as defined in Rule 902 under the securities act) in reliance upon Regulation S under the securities act; and (c) pursuant to certain prospectus exemptions in Canada.

This press release is being issued pursuant to and in accordance with Rule 135c under the securities act.

About Gran Tierra Energy Inc.

Gran Tierra Energy Inc. together with its subsidiaries is an independent international energy company currently focused on international oil and natural gas exploration and production with assets currently 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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