CALGARY, Alberta, May 07, 2024 (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 7, 2024. Each of the matters is described in greater detail in the Notice of Annual and Special Meeting of Shareholders and Information Circular dated March 22, 2024 (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 |
| 159,003,969 | 99.78% | 346,914 | 0.22% |
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 | 120,355,595 | 75.69% | 38,645,165 | 24.31% |
| Ronald J. Eckhardt | 120,683,415 | 75.90% | 38,317,345 | 24.10% |
| K. L. (Kate) Holzhauser | 114,591,790 | 72.07% | 44,408,970 | 27.93% |
| Mary Ellen Lutey | 121,260,267 | 76.26% | 37,740,493 | 23.74% |
| Keith A. MacPhail | 105,729,342 | 66.50% | 53,271,418 | 33.50% |
| Ronald J. Poelzer | 114,618,736 | 72.09% | 44,382,024 | 27.91% |
| Deborah S. Stein | 116,814,789 | 73.47% | 42,185,971 | 26.53% |
| Jonathan A. Wright | 121,376,032 | 76.34% | 37,624,728 | 23.66% |
| Grant A. Zawalsky | 109,304,669 | 68.74% | 49,696,091 | 31.26% |
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 |
| 151,628,827 | 95.15% | 7,722,057 | 4.85% |
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 |
| 120,962,396 | 76.08% | 38,038,364 | 23.92% |
5. Approval of the Amended and Restated Stock Option Plan
By resolution passed via ballot, the amendments to NuVista's stock option plan to, among other things, increase the number of shares issuable thereunder was approved. The results of the ballot were as follows:
| Votes For | Percent | Votes Against | Percent |
| 112,365,595 | 70.67% | 46,635,165 | 29.33% |
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 Pipestone and Wapiti areas of the Alberta Deep Basin.
FOR FURTHER INFORMATION CONTACT:
| Jonathan A. Wright | Ivan J. Condic | Mike J. Lawford |
| CEO | VP, Finance and CFO | President and COO |
| (403) 538-8501 | (403) 538-1954 | (403) 538-1936 |
