NVA NuVista Energy Ltd

(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 9, 2023. Each of the matters is described in greater detail in the Notice of Annual Meeting of Shareholders and Information Circular dated March 28, 2023 (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
		148,135,055		99.81%				274,765		0.19%

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		108,704,746		73.25%		39,705,074		26.75%
Ronald J. Eckhardt		109,676,538		73.90%		38,733,282		26.10%
K. L. (Kate) Holzhauser		110,173,684		74.24%		38,236,136		25.76%
Mary Ellen Lutey		110,337,727		74.35%		38,072,093		25.65%
Keith A. MacPhail		104,908,170		70.69%		43,501,650		29.31%
Ronald J. Poelzer		102,893,034		69.33%		45,516,786		30.67%
Deborah S. Stein		104,267,749		70.26%		44,142,071		29.74%
Jonathan A. Wright		109,838,872		74.01%		38,570,948		25.99%
Grant A. Zawalsky		106,271,044		71.61%		42,138,776		28.39%

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
		144,337,075		96.82%		4,741,273		3.18%

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
		108,539,418		73.13%		39,870,402		26.87%

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		Ivan J. Condic		Mike J. Lawford
President and CEO		VP, Finance and CFO		Chief Operating Officer
(403) 538-8501		(403) 538-1954		(403) 538-1936