Parex Resources Announces Voting Results of Shareholders’ Meeting

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CALGARY, Alberta, May 11, 2023 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce that on May 11, 2023, that 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:

Director VOTES IN FAVOR VOTES WITHHELD
Number Percentage Number Percentage
Lynn Azar 79,107,498 98.89% 886,488 1.11%
Lisa Colnett 78,853,969 98.57% 1,140,017 1.43%
Sigmund Cornelius 69,050,586 86.32% 10,943,400 13.68%
Robert Engbloom 78,542,553 98.19% 1,451,433 1.81%
Wayne Foo 76,505,501 95.64% 3,488,485 4.36%
G.R. (Bob) MacDougall 79,117,266 98.90% 876,720 1.10%
Glenn McNamara 79,302,225 99.14% 691,761 0.86%
Imad Mohsen 79,733,018 99.67% 260,968 0.33%
Carmen Sylvain 78,991,360 98.75% 1,002,626 1.25%

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
75,937,792 94.93%

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

About Parex Resources Inc.

Parex is the largest independent oil and gas company in Colombia, focusing on sustainable, conventional production. The Company’s corporate headquarters are in Calgary, Canada, with 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
[email protected]

Steven Eirich
Investor Relations & Communications Advisor
Parex Resources Inc.
587-293-3286
[email protected]

NOT FOR DISTRIBUTION OR FOR DISSEMINATION IN THE UNITED STATES

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