Peyto Exploration & Development Corp. Announces Voting Results From Annual and Special Meeting of Shareholders

About this update from Peyto Exploration & Development Corp.

CALGARY, Alberta, May 23, 2025 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. (TSX – PEY) (" Peyto ") is pleased to announce that the nominees listed in the information circular – proxy statement dated April 2, 2025 were elected as directors of Peyto at Peyto's annual and special meeting of shareholders (the " Meeting ") held on May 22, 2025. The detailed results of the votes for the election of directors, the appointment of auditors, the advisory vote on executive compensation and approval of the total shareholder return rights plan held at the Meeting are set out below. Election of Directors On a vote by ballot, each of the following nine nominees proposed by management was elected as a director of Peyto: Nominee Outcome of Vote Votes For Votes Withheld Donald Gray Elected 86,197,115 9,670,104 Michael MacBean Elected 91,436,025 4,431,195 Brian Davis Elected 93,801,543 2,065,676 Darren Gee Elected 93,274,345 2,592,875 Jean-Paul Lachance Elected 94,383,235 1,483,984 Jocelyn McMinn Elected 89,376,549 6,490,671 John W. Rossall Elected 95,416,660 450,559 Debra Gerlach Elected 94,478,939 1,388,281 Nicki Stevens Elected 92,357,435 3,509,784 Appointment of Auditors By ordinary resolution passed via ballot, Deloitte LLP, Chartered Professional Accountants, were appointed as auditors of Peyto until the next annual meeting or until their successors are duly appointed, and the directors were authorized to fix their remuneration. The results of the ballot were as follows: Votes For Percent (%) Votes Withheld Percent (%) 95,603,268 95.11% 4,910,425 4.89% Advisory Vote on Executive Compensation By ordinary resolution passed via ballot, the non-binding advisory resolution concerning Peyto's approach to executive compensation was approved. The results of the ballot were as follows: Votes For Percent (%) Votes Against Percent (%) 89,147,761 92.99% 6,719,458 7.01% Approval of the Total Shareholder Return Rights Plan By ordinary resolution passed via ballot, Peyto's total shareholder return rights plan was ratified and approved. The results of the ballot were as follows: Votes For Percent (%) Votes Against Percent (%) 90,874,189 94.79% 4,993,029 5.21% For further information please contact: Jean-Paul Lachance President and Chief Executive Officer Phone: (403) 451-4111 Fax: (403) 451-4100

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