PXT Parex Resources Inc

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 KruchtenSenior Vice President, Capital Markets & Corporate PlanningParex Resources Inc. 403-517-1733investor.relations@parexresources.com

Steven EirichInvestor Relations & Communications AdvisorParex Resources Inc.587-293-3286investor.relations@parexresources.com

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