An anonymous director reports

CANACOL ENERGY LTD. ANNOUNCES MEETING RESULTS

At the annual general and special meeting held in Bogota, Colombia, on July 10, 2020, holders of common shares of Canacol Energy Ltd. (i) re-elected Charle Gamba, Michael Hibberd, David Winter, Gregory D. Elliot, Francisco Diaz, Oswaldo Cisneros, Gonzalo Fernandez-Tinoco and Ariel Merenstein to the board of directors; (ii) appointed KPMG LLP as Canacol's auditor; and (iii) approved the amended stock option plan of the corporation and the unallocated stock options thereunder.

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

Nominee                      Votes for   % for  Votes withheld  % withheld

Charle Gamba                91,523,771  98.67%       1,235,240       1.33%  
Michael Hibberd             89,073,888  96.03%       3,685,123       3.97%  
David Winter                85,335,570  92.00%       7,423,441       8.00%  
Gregory D. Elliot           90,969,065  98.07%       1,789,946       1.93%  
Francisco Diaz              89,588,954  96.58%       3,170,057       3.42%  
Oswaldo Cisneros            90,934,636  98.03%       1,824,375       1.97%  
Gonzalo Fernandez-Tinoco    81,263,568  87.61%      11,495,443      12.39%  
Ariel Merenstein            91,950,081  99.13%         808,930       0.87%  

Further disclosure on the matters approved at the meeting can be found in the management information circular dated May 21, 2020, and the report of voting results for the meeting each available on SEDAR.

About Canacol Energy Ltd.

Canacol is a gas exploration and production company with operations focused in Colombia.