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 14, 2024 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		58,603,862		89.327%		7,002,297		10.673%
Don T. Gray		Elected		59,467,801		90.644%		6,138,358		9.356%
Kevin Johnson		Elected		63,041,696		96.091%		2,564,463		3.909%
Scott Robinson		Elected		62,702,722		95.574%		2,903,437		4.426%
Kathy Turgeon		Elected		62,503,738		95.271%		3,102,421		4.729%
Wilson Wang		Elected		62,457,347		95.200%		3,148,812		4.800%
Bindu Wyma		Elected		61,537,864		93.799%		4,068,295		6.201%

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.sedarplus.ca.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Kevin Johnson
President & CEO
403-538-8463

David Hwang
Vice President Finance & CFO
403-538-8437

Email: [e-mail]
Website: www.gearenergy.com