GRAN TIERRA ENERGY INC.

Share Issue/Capital Change • Mar 2, 2022

National Storage Mechanism | Additional information

RNS Number : 2888D

Gran Tierra Energy Inc.

01 March 2022

March 1, 2022

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 Stock Options have been granted to PDMRs effective February 24, 2022.  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 February 24, 2022 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.

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 the grant.  Stock Options vest over three years and expire five years from the date of issue.

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

Rodger Trimble

Vice President, Investor Relations

(403) 265-3221

[email protected]

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Gary Guidry, President and Chief Executive Officer

Ryan Ellson, Executive Vice President and Chief Financial Officer

Jim Evans, Vice President, Corporate Services

Lawrence West, Vice President, Exploration

Rodger Trimble, Vice President, Investor Relation

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

Performance Stock Units

Each Performance 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 Performance Stock Units

c)

Price(s) and volume(s)

PDMR	Price(s)	Volume (s)
Gary Guidry Ryan Ellson Jim Evans Rodger Trimble Lawrence West	n/a n/a n/a n/a n/a	923,077 630,769 368,132 263,736 368,132

d)

Aggregated information

- Aggregated volume

- Price

Price(s)	Volume (s)
USD 0.00	2,553,846

e)

Date of the transaction

24 February 2022

f)

Place of the transaction

Outside a trading venue                                                  

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)
Gary Guidry Ryan Ellson Jim Evans Rodger Trimble Lawrence West	USD USD USD USD USD	357,000 256,250 149,554 107,143 149,554

d)

Aggregated information

- Aggregated volume

- Price

Price(s)	Volume (s)
USD 1.42	1,019,501

e)

Date of the transaction

24 February 2022

f)

Place of the transaction

Outside a trading venue                                                  

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