Gear Energy Ltd. Announces Results of Directors Vote

Gear Energy Ltd. ("Gear") (TSX:GXE) is pleased to announce that the nominees listed in Gear's management proxy circular dated March 20, 2023 were elected as directors of Gear. The detailed results of the vote for the election of directors held at Gear's annual meeting of shareholders held today (the "Meeting") are set out below.

On a vote by ballot, each of the following seven nominees proposed by management was elected as a director of Gear:

Nominee		Outcomeof Vote		Votes For		% For		Votes Withheld		% Withheld
Greg Bay		Elected		47,856,468		88.753%		6,064,245		11.247%
Harry English		Elected		52,643,190		97.631%		1,277,523		2.369%
Ingram Gillmore		Elected		53,146,477		98.564%		774,236		1.436%
Don T. Gray		Elected		52,494,948		97.356%		1,425,765		2.644%
Scott Robinson		Elected		53,060,853		98.405%		859,860		1.595%
Wilson Wang		Elected		52,986,595		98.268%		934,118		1.732%
Bindu Wyma		Elected		53,033,410		98.354%		887,303		1.646%

For details of the voting results on the other matters considered at the Meeting, see Gear's Report of Voting Results to be filed on SEDAR at www.sedar.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Ingram Gillmore	David Hwang
President & CEO	Vice President Finance & CFO
403-538-8463	403-538-8437
Email: [e-mail]
Website: www.gearenergy.com