Mr. Eugene Woychyshyn reports

NXT ENERGY SOLUTIONS INC. ANNOUNCES RESULTS OF ANNUAL MEETING OF SHAREHOLDERS

NXT Energy Solutions Inc. has released the voting results from its annual meeting of shareholders held on Aug. 2, 2023.

Shareholders approved the following:

• Election of directors: The incumbent six directors of the company were re-elected to hold office until the next annual meeting of shareholders or until their successors are duly elected or appointed.
• Appointment of auditor: MNP LLP was appointed as the auditor of the company for the next year at a remuneration to be determined by the board of directors.
• Employee share purchase plan: The company's employee share purchase plan was approved for an additional three years.
• Unallocated entitlements: The company's restricted share unit plan was approved for an additional three years.
• Preferred share resolution: The resolution to approve a new class of preferred shares was approved.

Further details are set out in the company's information circular dated June 30, 2023, posted on the company's website and filed on SEDAR+.

Specific voting results are provided in the attached table.

About NXT Energy Solutions Inc.

NXT Energy is a Calgary-based technology company, the proprietary SFD survey system of which utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method, which can be used both onshore and offshore to remotely identify traps and reservoirs with hydrocarbon and geothermal exploration potential. The SFD survey system enables NXT Energy's clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy. NXT Energy provides its clients with an effective and reliable method to reduce time, costs and risks related to exploration.