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Report on Voting From the 2021 Annual Meeting of Shareholders

CALGARY, Alberta, May 11, 2021 (GLOBE NEWSWIRE) -- (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 11, 2021. Each of the matters is described in greater detail in the Notice of Annual Meeting of Shareholders and Information Circular dated March 26, 2021 (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

81,177,213

66.74%

40,461,527

33.26%

2. Election of Directors

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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

81,033,201

66.62%

40,605,539

33.38%

Ronald J. Eckhardt

80,559,900

66.23%

41,078,840

33.77%

Keith A. MacPhail

80,862,449

66.48%

40,776,291

33.52%

Ronald J. Poelzer

80,958,149

66.56%

40,680,591

33.44%

Brian G. Shaw

81,514,923

67.01%

40,123,817

32.99%

Sheldon B. Steeves

81,492,373

67.00%

40,146,367

33.00%

Deborah S. Stein

81,625,336

67.10%

40,013,404

32.90%

Jonathan A. Wright

81,545,016

67.04%

40,093,724

32.96%

Grant A. Zawalsky

80,825,511

66.45%

40,813,229

33.55%

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

122,561,533

99.73%

332,504

0.27%

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

81,110,723

66.68%

40,528,017

33.32%

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

Ross L. Andreachuk

Mike J. Lawford

President and CEO

VP, Finance and CFO

Chief Operating Officer

(403) 538-8501

(403) 538-8539

(403) 538-1936