PERPETUAL ENERGY INC. ANNOUNCES ELECTION OF DIRECTORS

CALGARY, AB, May 16, 2023 /CNW/ - (TSX: PMT) – Perpetual Energy Inc. ("Perpetual" or the "Corporation") is pleased to announce that the nominees listed in the management proxy circular dated March 30, 2023 were elected as directors of Perpetual. The detailed results of the vote for the election of directors held at its annual meeting of shareholders earlier today in Calgary, Alberta are set out below. 

Election of Directors

Each of the following five nominees proposed by management was elected as a director of Perpetual:

Nominee		Votes For		% For		Votes Withheld		% Withheld
Susan L. Riddell Rose		36,521,038		99.697		111,103		0.303
Linda A. Dietsche		36,521,038		99.697		111,103		0.303
Geoffrey C. Merritt		36,580,933		99.860		51,208		0.140
Ryan A. Shay		36,579,933		99.857		52,208		0.143
Steven L. Spence		36,580,933		99.860		51,208		0.140

About Perpetual

Perpetual is an oil and natural gas exploration, production and marketing company headquartered in Calgary, Alberta. Perpetual owns a diversified asset portfolio, including liquids-rich conventional natural gas assets in the deep basin of West Central Alberta, heavy crude oil and shallow conventional natural gas in Eastern Alberta and undeveloped bitumen leases in Northern Alberta. Additional information on Perpetual can be accessed at www.sedar.com or from the Company's website at www.perpetualenergyinc.com.

The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

SOURCE Perpetual Energy Inc.

Perpetual Energy Inc., Suite 3200, 605 - 5 Avenue SW Calgary, Alberta, Canada T2P 3H5, Telephone: [phone], Fax: [phone], Email: [email protected]; Susan L. Riddell Rose, President and Chief Executive Officer; Ryan A. Shay, Vice President Finance and Chief Financial Officer