GRAN TIERRA ENERGY INC.

Transaction in Own Shares • Oct 5, 2021

National Storage Mechanism | Additional information

RNS Number : 9842N

Gran Tierra Energy Inc.

05 October 2021

October 5, 2021

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 the Company's common shares, Deferred Stock Units and Stock Options undertaken by directors / persons discharging managerial responsibility ("PDMRs").

Deferred Stock Units ("DSUs") and Stock Options have been granted to certain PDMRs effective October 1, 2021 in accordance with the payment of directors' fees for the fourth quarter of 2021. Each DSU represents a contingent right to receive one share of the Company's common stock.  The DSUs vest in full on award and are paid out at such time as the director ceases to be a member of the Board of Directors of the Company.  Each Stock Option permits the holder to purchase one share of common stock of the Company at the stated exercise price. The exercise price equals the market price of a share of common stock at the time of grant. The Stock Options vest immediately and expire five years from the date of issue.

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

Rodger Trimble

Vice President, Investor Relations

(403) 265-3221

[email protected]

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Peter Dey, Director

Ron Royal, Director

David Smith, Director

Brooke Wade, Director

2

Reason for the notification

a)

Position/status

See 1 a) above

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Gran Tierra Energy Inc.

b)

LEI

549300IH2S17MAIUCM32

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Stock Options

Each Stock Option represents a right to purchase one share of Gran Tierra Energy Inc. common stock at the stated exercise price

Identification code

n/a

b)

Nature of the transaction

Grant of Stock Options

c)

Price(s) and volume(s)

PDMR	Price(s)	Volume (s)
Peter Dey Ron Royal David Smith Brooke Wade	USD 0.76 USD 0.76 USD 0.76 USD 0.76	13,824 13,824 13,824 13,824

d)

Aggregated information

- Aggregated volume

- Price

Price(s)	Volume (s)
USD 0.76	55,296

e)

Date of the transaction

1 October 2021

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Peter Dey, Director

Evan Hazell, Director

Robert Hodgins, Director

Alison Redford, Director

Ron Royal, Director

David Smith, Director

Brooke Wade, Director

2

Reason for the notification

a)

Position/status

See 1 a) above

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Gran Tierra Energy Inc.

b)

LEI

549300IH2S17MAIUCM32

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Deferred Stock Units

Each Deferred Stock Unit represents a contingent right to receive one share of Gran Tierra Energy Inc. common stock.

Identification code

n/a

b)

Nature of the transaction

Grant of Deferred Stock Units

c)

Price(s) and volume(s)

PDMR	Price(s)	Volume (s)
Peter Dey Evan Hazell Robert Hodgins Alison Redford Ron Royal David Smith Brooke Wade	n/a n/a n/a n/a n/a n/a n/a	55,436 49,609 49,479 41,861 55,436 25,488 55,436

d)

Aggregated information

- Aggregated volume

- Price

Price(s)	Volume (s)
n/a	332,745

e)

Date of the transaction

1 October 2021

f)

Place of the transaction

Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Alison Redford
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gran Tierra Energy Inc.
b)	LEI	549300IH2S17MAIUCM32
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Deferred Stock Units Each Deferred Stock Unit represents a contingent right to receive one share of Gran Tierra Energy Inc. common stock.  The Deferred Stock Units vest in full on award and are paid out at such time as the reporting person ceases to be a member of the Board of Directors of the Issuer.
	Identification code	n/a
b)	Nature of the transaction	Election for payment of Director's fees
c)	Price(s) and volume(s)	n/a
d)	Aggregated information - Aggregated volume - Price	Effective October 1, 2021, Director's fees payable to Alison Redford to be paid as: Cash Retainer - 55% Deferred Stock Units and 45% Cash Committee Fees - 100% Cash Equity Retainer - 100% Deferred Stock Units
e)	Date of the transaction	1 October 2021
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Evan Hazell
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gran Tierra Energy Inc.
b)	LEI	549300IH2S17MAIUCM32
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Deferred Stock Units Each Deferred Stock Unit represents a contingent right to receive one share of Gran Tierra Energy Inc. common stock.  The Deferred Stock Units vest in full on award and are paid out at such time as the reporting person ceases to be a member of the Board of Directors of the Issuer.
	Identification code	n/a
b)	Nature of the transaction	Change in election of payment of Director's fees
c)	Price(s) and volume(s)	n/a
d)	Aggregated information - Aggregated volume - Price	Effective October 1, 2021, the Director's fees payable to Evan Hazell to be paid as: Cash Retainer - 100% Cash Committee Fees - 100% Deferred Stock Units Equity Retainer - 100% Deferred Stock Units
e)	Date of the transaction	1 October 2021
f)	Place of the transaction	Outside a trading venue

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