Energy SpA — Remuneration Information 2020

Mar 4, 2020

National Storage Mechanism | Additional information

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RNS Number : 9212E

Gran Tierra Energy Inc.

04 March 2020

March 4, 2020

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.

Performance Stock Units ("PSUs") and Stock Options have been granted to PDMRs effective February 28, 2020.  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 28, 2020 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 PSU's 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 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.

This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

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

info@grantierra.com

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

Remi Anthony Berthelet, Chief Operating Officer

Jim Evans, Vice President, Corporate Services

Glen Mah, Vice President, Exploration, Ecuador

Rodger Trimble, Vice President, Investor Relations

Lawrence West, Vice President, Exploration

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 Remi Anthony Berthelet Jim Evans Glen Mah Rodger Trimble Lawrence West	n/a n/a n/a n/a n/a n/a n/a	1,631,068 1,114,563 978,641 650,485 466,019 466,019 650,485

d)

Aggregated information

- Aggregated volume

- Price

Price(s)	Volume (s)
n/a	5,957,280

e)

Date of the transaction

28 February 2020

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 Remi Anthony Berthelet Jim Evans Glen Mah Rodger Trimble Lawrence West	USD 0.77 USD 0.77 USD 0.77 USD 0.77 USD 0.77 USD 0.77 USD 0.77	976,744 667,442 586,047 389,535 279,070 279,070 389,535

d)

Aggregated information

- Aggregated volume

- Price

Price(s)	Volume (s)
USD 0.77	3,567,443

e)

Date of the transaction

28 February 2020

f)

Place of the transaction

Outside a trading venue

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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