Report on Voting From the 2021 Annual Meeting of Shareholders

CALGARY, Alberta, May 11, 2021 (GLOBE NEWSWIRE) — (TSX – NVA) NuVista Energy Ltd. (“NuVista“) announces that the following matters were approved at the annual meeting of the shareholders of NuVista held on May 11, 2021. Each of the matters is described in greater detail in the Notice of Annual Meeting of Shareholders and Information Circular dated March 26, 2021 (the “Circular“).

1. Fixing the Number of Directors

By resolution passed via ballot, the number of directors to be elected at the meeting was fixed at nine members. The results of the ballot were as follows:

  Votes For   Percent   Votes Against   Percent
  81,177,213   66.74%   40,461,527   33.26%

2. Election of Directors

By resolution passed via ballot, the following nine nominees were appointed as directors of NuVista to serve until the next annual meeting of shareholders of NuVista, or until their successors are elected or appointed. The results of the ballot were as follows:

Name of Nominee   Votes For   Percent   Votes Withheld   Percent
                 
Pentti O. Karkkainen   81,033,201   66.62%   40,605,539   33.38%
Ronald J. Eckhardt   80,559,900   66.23%   41,078,840   33.77%
Keith A. MacPhail   80,862,449   66.48%   40,776,291   33.52%
Ronald J. Poelzer   80,958,149   66.56%   40,680,591   33.44%
Brian G. Shaw   81,514,923   67.01%   40,123,817   32.99%
Sheldon B. Steeves   81,492,373   67.00%   40,146,367   33.00%
Deborah S. Stein   81,625,336   67.10%   40,013,404   32.90%
Jonathan A. Wright   81,545,016   67.04%   40,093,724   32.96%
Grant A. Zawalsky   80,825,511   66.45%   40,813,229   33.55%

3. Appointment of Auditors

By resolution passed via ballot, KPMG LLP, Chartered Professional Accountants, were appointed as auditors of NuVista to hold office until close of 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
  122,561,533   99.73%   332,504   0.27%

4. Non-Binding Advisory Resolution on Executive Compensation

By advisory resolution passed via ballot, NuVista’s approach to executive compensation was approved. The results of the ballot were as follows:

  Votes For   Percent   Votes Against   Percent
  81,110,723   66.68%   40,528,017   33.32%

INVESTOR INFORMATION

NuVista is an independent Canadian oil and natural gas exploration, development and production corporation with its Common Shares trading on the Toronto Stock Exchange under the symbol “NVA”.

NuVista is an oil and natural gas company actively engaged in the exploration for, and the development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin. Our primary focus is on the scalable and repeatable condensate-rich Montney formation in the Wapiti and Pipestone area of the Alberta Deep Basin.

FOR FURTHER INFORMATION CONTACT:

  Jonathan A. Wright Ross L. Andreachuk Mike J. Lawford
  President and CEO VP, Finance and CFO Chief Operating Officer
  (403) 538-8501 (403) 538-8539 (403) 538-1936

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