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Parex Resources Inc. press release

Parex Resources Announces Voting Results of Shareholders' Meeting

TSX - Toronto Stock Exchange · Oil · Natural Gas · Canada · Management & Governance

Parex Resources Announces Voting Results of Shareholders’ Meeting

CALGARY, Alberta, May 12, 2026 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce that on May 12, 2026, it held its annual general and special meeting of shareholders (the “Meeting”) and all matters presented 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 | 68,487,623 | 98.92% | 747,336 | 1.08% | | Alberto Consuegra | 68,979,558 | 99.63% | 255,401 | 0.37% | | Sigmund Cornelius | 68,949,552 | 99.59% | 285,407 | 0.41% | | Mona Jasinski | 68,066,053 | 98.31% | 1,168,906 | 1.69% | | Jeff Lawson | 68,964,542 | 99.61% | 270,417 | 0.39% | | G.R. (Bob) MacDougall | 68,215,645 | 98.53% | 1,019,314 | 1.47% | | Glenn McNamara | 66,186,412 | 95.60% | 3,048,547 | 4.40% | | Imad Mohsen | 68,918,928 | 99.54% | 316,031 | 0.46% | | Carmen Sylvain | 67,147,669 | 96.99% | 2,087,290 | 3.01% |

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 | | 64,349,936 | 92.94% |

Full voting results on all matters considered at the Meeting are available on the Company’s profile on SEDAR+ (www.sedarplus.ca).

About Parex Resources Inc.

Parex is one of the largest independent oil and gas companies in Colombia, focusing on sustainable, conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogotá, Colombia. Parex 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 investor.relations@parexresources.com

Steven Eirich Senior Investor Relations & Communications Advisor Parex Resources Inc. 587-293-3286 investor.relations@parexresources.com

NOT FOR DISTRIBUTION OR FOR DISSEMINATION IN THE UNITED STATES

PDF available: http://ml.globenewswire.com/Resource/Download/896cc559-740e-4bcc-b030-cee26c101f75

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