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Report on Voting From the 2022 Annual and Special Shareholders Meeting

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NuVista Energy Ltd.
NuVista Energy Ltd.

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. 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