Questerre updates Quebec Spinout and PX Energy transaction

Contributing sentiments towards policy:

54% : Due to Canadian tax legislation applicable to taxable preferred shares, including Part VI.1 tax under the Income Tax Act (Canada), the tracking preferred shares will not be redeemable for a minimum of five years and will be convertible at the option of the Company into Questerre Common Shares upon the occurrence of certain events.
54% : Questerre is a believer that the future success of the oil and gas industry depends on a balance of economics, environment, and society.
51% : THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICATO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS CALGARY, Alberta, Dec. 18, 2025 (GLOBE NEWSWIRE) -- Questerre Energy Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) updated corporate developments related to the spin out of its Quebec assets (the "Quebec Spinout") and the PX Energy transaction.
48% : Advertisement The capital reorganization as proposed does not constitute a taxable event under Canadian or Norwegian tax legislation.
44% : Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including, without limitation: the following risk factors: additional funding requirements; exploration, development, and production risks; volatility in the oil and gas industry; prices, markets, and marketing of crude oil and natural gas; liquidity and the company's substantial capital requirements; prices, markets, and marketing of crude oil and natural gas; political uncertainty; non-government organizations; changing investor sentiment; global financial market volatility; adverse economic conditions; alternatives to and changing demand for petroleum products; environmental risks; regulatory risks; inability of management to execute its business plan; competition from other issuers; expiration of licenses and leases; Indigenous claims; possible failure to realize anticipated benefits of acquisitions; and reputational risks.

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