Paramount Resources Ltd. Announces Annual General Meeting Results

CALGARY, AB, May 5, 2021 /CNW/ - Paramount Resources Ltd. (the "Company") (TSX: POU) announces that the following eight director nominees were elected at today's annual general meeting of shareholders:

	VOTES FOR		VOTES WITHHELD
	Number	Percent (%)	Number	Percent (%)
James Riddell	103,951,126	99.93%	69,800	0.07%
James Bell	103,455,770	99.46%	565,156	0.54%
Wilfred Gobert	101,488,593	97.57%	2,532,333	2.43%
Dirk Jungé	103,848,141	99.83%	172,785	0.17%
Kim Lynch Proctor	103,945,519	99.93%	75,407	0.07%
Robert MacDonald	103,817,004	99.80%	203,922	0.20%
Keith MacLeod	103,910,907	99.89%	110,019	0.11%
Susan Riddell Rose	103,478,619	99.48%	542,307	0.52%

In addition:

• The re-appointment of Ernst & Young LLP, Chartered Professional Accountants, as auditors of the Company was approved with 105,497,656 (99.56%) of the votes cast for and 462,600 (0.44%) votes withheld.
  
  
• An ordinary resolution approving the unallocated options under the Company's stock option plan was approved with 100,225,352 (96.35%) of the votes cast for and 3,795,574 (3.65%) of the votes cast against.
  
  
• An ordinary resolution confirming certain amendments to the bylaws of the Company concerning the holding of shareholder meetings by electronic means was approved with 103,963,440 (99.94%) of the votes cast for and 57,486 (0.06%) of the votes cast against.

ABOUT Paramount

Paramount is an independent, publicly traded, liquids-focused Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas reserves and resources, including longer-term strategic exploration and pre-development plays, and holds a portfolio of investments in other entities. The Company's principal properties are located in Alberta and British Columbia. Paramount's class A common shares are listed on the Toronto Stock Exchange under the symbol "POU".

SOURCE Paramount Resources Ltd.

Paramount Resources Ltd., J.H.T. (Jim) Riddell, President and Chief Executive Officer and Chairman; Paul R. Kinvig, Chief Financial Officer; Rodrigo (Rod) Sousa, Executive Vice President, Corporate Development and Planning, www.paramountres.com, Phone: [phone]