Insider ownership post corporate reorganization

Questerre Energy Corporation ("Questerre" or the "Company") refers to the stock exchange announcements made January 16, 2026, regarding the Special Meeting of Shareholders (the "Meeting") and January, 20, 2026, regarding key dates of the corporate reorganization.

In the Meeting, it was resolved that the Company’s existing Class A Common Shares (the “Common Shares”) were exchanged for a new class of Class A Common Shares (the “New Common Shares”) and Series 2 Preferred Shares, and the original Common Shares have been cancelled.

The Effective Date of the exchange of shares was January, 27, 2026, where the exchange of the Common Shares with the Company's New Common Shares and Series 2 Preferred Shares was completed, whereby the Series 2 Preferred Shares were recorded in the share registers in Canada and Norway and distributed to the Company's shareholders while the Common Shares were cancelled and replaced by the New Common Shares, which will continue to trade under the same ISIN number as the cancelled Common Shares. For each Common Share, the shareholders have received one (1) New Common Share and one (1) Series 2 Preferred Share.

Mandatory notifications of trade

The following primary insiders and close associates of primary insiders have participated in the exchange, whereby their Common Shares were exchanged with an equal number of New Common shares and new Series 2 Preferred Shares:

Hans Jacob Holden, Director, has received 275,000 New Common Shares and 275,000 Series 2 Preferred Shares Dennis Sykora, Director, has received 593,750 New Common Shares and 593,750 Series 2 Preferred Shares Bjorn Inge Tonnessen, Director, has received 445,000 New Common Shares and 445,000 Series 2 Preferred Shares Michael Binnion, President and CEO, and related parties in aggregate have received 23,890,112 New Common Shares and 23,890,112 Series 2 Preferred Shares Jason D’Silva, Chief Financial Officer, has received 5,515,863 New Common Shares and 5,515,863 Series 2 Preferred Shares John Brodylo, VP Exploration, has received 1,734,100 New Common Shares and 1,734,100 Series 2 Preferred Shares Rick Tityk, VP Land, has received 1,050,000 New Common Shares and 1,050,000 Series 2 Preferred Shares

For further information please contact:

Questerre Energy Corporation Jason D’Silva, Chief Financial Officer (403) 777-1185 | (403) 777-1578 (FAX) | Email: info@questerre.com

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This information is subject to the disclosure requirements pursuant to the Market Abuse Regulation (EU) 596/2014 (MAR) article 19 number 3.