Questerre reports annual grant of stock options to directors and employees

Questerre Energy Corporation ("Questerre" or the "Company") reported that the Board, at its annually scheduled meeting, which included an evaluation of overall compensation, has granted to directors, officers and employees a total of 6,000,000 options to acquire Common Shares at a price of C$0.235 per Common Share on February 7, 2023. The exercise price is determined as the closing price on TSX the day prior to the grant. The options will expire on February 6, 2028. The options were granted as follows: Board Members Current Proposed Total Bjorn Inge Tonnessen 1,497,000 300,000 1,797,000 Mireille Fontaine 830,000 200,000 1,030,000 Dennis Sykora 933,500 200,000 1,133,500 Hans Jacob Holden 918,500 200,000 1,118,500 Management Michael Binnion 8,004,000 1,200,000 9,204,000 John Brodylo 4,020,000 600,000 4,620,000 Peter Coldham 4,060,000 600,000 4,660,000 Jason D'Silva 5,460,000 1,000,000 6,460,000 Dana Shepherdson 3,200,000 600,000 3,800,000 Rick Tityk 4,020,000 600,000 4,620,000 Employees 2,180,000 500,000 2,680,000 Former Directors 174,500 0 174,500 Total 35,297,500 6,000,000 41,297,500 We seek safe harbor