Questerre reports option exercise and annual grant of stock options to directors and employees

Questerre Energy Corporation (“Questerre” or the “Company”) reported that members of the Board of Directors and Management exercised 4,000,000 stock options with an exercise price of $0.18 per Common Shares for net proceeds to the Company of $0.72 million. A total of 4,000,000 Common Shares were issued on the exercise of the stock options. Pre-Acquisition Acquisition Current Holdings Directors Hans Holden 25,000 250,000 275,000 Dennis Sykora 443,750 150,000 593,750 Bjorn Tonnessen 45,000 400,000 445,000 Officers Michael Binnion 21,990,112 1,900,000 23,890,112 Jason D'Silva 4,215,863 1,300,000 5,515,863 Total 26,719,72 4,000,000 30,719,725

With the approval of the Board of Directors with respect to an evaluation of overall compensation, the Company has granted directors, officers and employees a total of 7,300,000 options to acquire Common Shares at a price of C$0.27 per Common Share on January 23, 2025. The exercise price is determined as the closing price on TSX. The options will expire on January 21, 2031. Current Grant Closing Directors Bjorn Tonnessen 1,250,000 400,000 1,650,000 Dennis Sykora 780,000 250,000 1,030,000 Hans J Holden 780,000 250,000 1,030,000 Jauvonne Kitto 400,000 250,000 650,000 Management Michael Binnion 6,620,000 1,900,000 8,520,000 John Brodylo 3,310,000 350,000 3,660,000 Jason D'Silva 4,760,000 1,300,000 6,060,000 Filippo Segatori - 1,000,000 1,000,000 Jyoti Parmar 250,000 100,000 350,000 David Pellegrin 350,000 500,000 850,000 Rick Tityk 3,310,000 350,000 3,660,000 Other 6,000,000 650,000 6,650,000 27,810,000 7,300,000 35,110,000 We seek Safe Harbour.