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Report on Voting From the 2022 Annual and Special Shareholders Meeting

CALGARY, Alberta, May 10, 2022 (GLOBE NEWSWIRE) -- (TSX - NVA) NuVista Energy Ltd. ("NuVista") announces that the following matters were approved at the annual and special meeting of the shareholders of NuVista held on May 10, 2022. Each of the matters is described in greater detail in the Notice of Annual and Special Meeting of Shareholders and Information Circular dated March 25, 2022 (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
  114,410,095
 75.25% 37,622,903 24.75%

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 111,194,606 73.14% 40,838,392 26.86%
Ronald J. Eckhardt 112,585,832 74.05% 39,447,166 25.95%
K. L. (Kate) Holzhauser 114,278,622 75.17% 37,754,376 24.83%
Keith A. MacPhail 102,906,178 67.69% 49,126,820 32.31%
Ronald J. Poelzer 110,819,425 72.89% 41,213,573 27.11%
Sheldon B. Steeves 113,205,653 74.46% 38,827,345 25.54%
Deborah S. Stein 113,165,933 74.44% 38,867,065 25.56%
Jonathan A. Wright 113,588,145 74.71% 38,444,853 25.29%
Grant A. Zawalsky 108,820,839 71.58% 43,212,159 28.42%

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
  148,210,041 96.65% 5,138,310
 3.35%

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
  113,847,636 74.88% 38,185,362 25.12%

5.        Approval of an Amendment to the Share Award Incentive Plan

By resolution passed via ballot, the amendment to NuVista's share award incentive plan to increase the number of common shares issuable thereunder was approved. The results of the ballot were as follows:

  Votes For Percent Votes
Against
 Percent
  112,534,495 74.02% 39,498,503 25.98%

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. WrightRoss L. AndreachukMike J. Lawford
President and CEOVP, Finance and CFOChief Operating Officer
(403) 538-8501(403) 538-8539(403) 538-1936

2500, 525 8th Ave SW
Calgary, Alberta T2P 1G1
Phone: (403) 538-8500
Fax: (403) 538-8505
24 Hour Emergency Call-In24 Hour Emergency Call-In
1-403-538-8500
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