Questerre applies to list Preferred Shares on Euronext Growth Oslo

About this update from Questerre Energy Corporation Class A

THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS CALGARY, Alberta, June 22, 2026 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX, OSE: QEC) announced it will apply to list the Company’s Series 2 Preferred Shares (the “Preferred Shares”) on Euronext Growth Oslo (the “Listing”), operated by Euronext Oslo Børs. The Company will submit the application for the Listing on June 23, 2026. The Preferred Shares track the economic performance and value of the Company's Quebec assets, including its significant natural gas discovery in the Quebec Utica shale. The Preferred Shares were issued in January 2026. This followed the reorganization of the Company's share capital, as approved by the Common shareholders at the Special Meeting held on January 15, 2026. Subject to approval of the application for the Listing by Euronext Oslo Børs and satisfaction of applicable conditions, the first day of trading in the Preferred Shares on Euronext Growth Oslo is expected to be on or about June 30, 2026. Michael Binnion, President and Chief Executive Officer of Questerre, commented, "This listing on Euronext Growth Oslo gives our shareholders direct liquidity in our Quebec assets. The market will have direct exposure to one of North America’s most important undeveloped natural gas resources. We believe this is an important step in unlocking the full value of this discovery." He added, “Our shareholders participate in the future of this discovery through two paths. Should a political and business solution permit development of the project, our Common and Preferred shareholders will share the asset equally, subject to the Common shareholders funding a 10-well program to demonstrate commercial advancement of the project.” He further added, “Should development not proceed, any financial compensation received by the Company would be allocated 95% to the Preferred shareholders and 5% to the Common shareholders. According to an independent expert report, the damages related to the discovery are estimated to be between C$700 million and C$4.8 billion. To optimize the tax treatment of any such distribution, and in accordance with articles of the Company, the Preferred Shares would be converted into Common Shares based on the 90-day vol...

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