Pine Cliff Energy : Announces Results of Shareholders’ Meeting and Annual Share Unit and Stock Option Grant

About this update from Pine Cliff Energy Ltd.

Calgary, Alberta-(Newsfile Corp. - May 29, 2026) - Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX: PNE) (OTCQX:PIFYF) is pleased to announce all matters presented for approval at the Annual Meeting of Shareholders on May 29, 2026 (the "Meeting") have been approved. A total of 134,450,284 common shares representing 37.51% of Pine Cliff's issued and outstanding common shares were voted in connection with the Meeting. Each of the five nominees proposed by Pine Cliff and as set out in the Information Circular - Proxy Statement provided to shareholders in connection with the Meeting were duly elected as directors. Each of the nominees was elected as shown below: Name of Nominee Voted For Percent Votes Withheld Percent Hilary A. Foulkes 120,880,996 90.70% 12,387,445 9.30% Robert B. Fryk 120,872,831 90.70% 12,395,610 9.30% Philip B. Hodge 133,110,594 99.88% 157,847 0.12% Calvin B. Jacober 121,076,479 90.85% 12,191,962 9.15% Jacqueline R. Ricci 120,603,015 90.50% 12,665,426 9.50% Deloitte LLP, Chartered Accountants, were appointed auditors of the Company for the ensuing year and the Board of Directors of Pine Cliff (the "Board")were authorized to fix their remuneration. The complete report on the voting results for the Meeting is available under the Company's profile at www.sedarplus.ca. The Board has approved an annual grant of an aggregate of 12,526,432 deferred share units, restricted share units and stock options to its directors, officers and employees. The deferred share units issued to Board members vest upon resignation or retirement from the Board. The restricted share units vest over three years annually beginning on May 29, 2026. The stock options vest over three years annually, have an exercise price of $0.60 per share and will expire between May 29, 2028,and May 20, 2030. Ms. Hilary A. Foulkes has been appointed Chair of the Board, following the decision by Mr. William S. Rice not to stand for re-election. The Board would like to thank Mr. Rice for his dedication and service to Pine Cliff and wish him continued success and enjoyment in his retirement. June Dividend Pine Cliff has declared a monthly dividend of$0.00125 per common share to be paid June 30, 2026, to shareholders of record on June 15, 2026. This dividend and future dividends are expected to be designated as non-eligible dividends for Canadian income tax purposes until furthe...

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