Director/PDMR Shareholding

November 8, 2024

Gran Tierra Energy Inc.

(the "Company")

Notification of Transactions in the Company's Shares by Directors and Persons Discharging Managerial Responsibility

The Company announces the following transactions in Performance Stock Units undertaken by directors / persons discharging managerial responsibility ("PDMRs").

Performance Stock Units ("PSUs") and Restricted Stock Units ("RSUs") have been granted to PDMRs effective November 6, 2024 (the "Grant Date"). The PSUs entitle the holder to receive, at the option of the Company, either the underlying number of shares of the Company's common stock upon vesting of such units or a cash payment equal to the value of the underlying shares. The PSUs granted on the Grant Date vest after three years, subject to the continued employment of the grantee.  Upon vesting the underlying number of common shares or the cash payment equivalent to their value may range from zero to 200% of the number of PSUs vested, based on the Company's performance with respect to the applicable performance targets.

The RSUs shall have a three-year vesting period commencing on the Grant Date, subject to the continued employment of the grantee, with 1/3rd of the shares vesting and becoming exercisable on the one-year anniversary of the Grant Date, 1/3rd of the shares vesting and becoming exercisable on the second anniversary of the Grant Date, and 1/3rd of the shares vesting and becoming exercisable on the third anniversary of the Grant Date.

The Notification of Dealing Form for the vesting and payment of the PSUs for PDMRs can be found below.

The notification set out below is provided in accordance with the requirement of Article 19 of the EU Market Abuse Regulation.

Contact Information:

Gary Guidry
President and Chief Executive Officer

Ryan Ellson
Executive Vice President and Chief Financial Officer

Phillip Abraham
Executive Vice President, Legal

(403) 265-3221

[email protected]