Gran Tierra Announces Transaction in Own Shares

Source: www.gulfoilandgas.com 12/8/2023, Location: Europe

On October 31, 2023 Gran Tierra Energy Inc. ("Gran Tierra") announced a normal course issuer bid (the "NCIB") through the facilities of the Toronto Stock Exchange ("TSX"). The Company received regulatory approval from the TSX on November 1, 2023 to commence the 2023 NCIB. Pursuant to the NCIB, Gran Tierra may, for a one year period, purchase for cancellation or hold to satisfy awards granted under Gran Tierra's 2007 Equity Incentive Plan (the "2007 Equity Incentive Plan") up to 3,234,914 of its shares of common stock at prevailing market prices at the time of purchase. The NCIB commenced on November 3, 2023 and will expire on November 2, 2024, or earlier if the 10.00% share maximum is reached. The purpose of the NCIB is to reduce the share capital of Gran Tierra or to satisfy awards granted under the 2007 Equity Incentive Plan.

All transactions were made under ISIN US38500T2006 and effected by Eight Capital on behalf of Gran Tierra. A full breakdown of the individual trades is attached to this announcement. Following the above transactions, Gran Tierra will have 32,461,091 issued and outstanding shares.


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