Energy

Parex Resources Inc. ("Parex" or the "Company") (TSX: PXT) is pleased to announce that on May 12, 2022 it held its annual general and special meeting of shareholders (the "Meeting") and all matters presented for approval have been fully authorized and approved.

At the Meeting, shareholders approved the election of nine nominees as directors of Parex to serve until the next annual meeting of shareholders or until their successors are elected or appointed. The results of the ballot were as follows:

VOTES FOR
VOTES WITHHELD
Number Percentage Number Percentage
Lisa Colnett 94,439,969 99.21% 751,355 0.79%
Sigmund Cornelius 91,920,996 96.56% 3,270,328 3.44%
Robert Engbloom 76,759,963 80.64% 18,431,361 19.36%
Wayne Foo 94,492,136 99.27% 699,188 0.73%
G. R. (Bob) MacDougall 91,929,726 96.57% 3,261,598 3.43%
Glenn McNamara 95,045,922 99.85% 145,402 0.15%
Imad Mohsen 94,825,221 99.62% 366,103 0.38%
Carmen Sylvain 91,650,393 96.28% 3,540,931 3.72%
Paul Wright 87,301,319 91.71% 7,890,005 8.29%

In addition, a non-binding advisory resolution concerning the Company's approach to executive compensation was approved. The results of the ballot were as follows:

VOTES FOR
Number Percentage
91,181,550 95.79%

Full voting results on all matters considered at the Meeting are available on our SEDAR profile at www.sedar.com.

About Parex Resources Inc.

Parex is the largest independent oil and gas company in Colombia, focusing on sustainable, conventional production. Parex's corporate headquarters are in Calgary, Canada, and the Company has an operating office in Bogotá, Colombia. Parex is a member of the S&P/TSX Composite ESG Index and its shares trade on the Toronto Stock Exchange under the symbol PXT.

For more information, please contact:

Mike Kruchten
Senior Vice President, Capital Markets & Corporate Planning
Parex Resources Inc.
403-517-1733
investor.relations@parexresources.com

PDF available: http://ml.globenewswire.com/Resource/Download/58213c00-8c5a-4cb9-9150-74c5ee614c34


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