Calgary, Alberta -- Questerre Energy Corporation ("Questerre" or the "Company")
(TSX, OSE: QEC) announced it will apply to list the Company's Series 2 Preferred
Shares (the "Preferred Shares") on Euronext Growth Oslo (the "Listing"),
operated by Euronext Oslo Børs. The Company will submit the application for the
Listing on June 23, 2026.

The Preferred Shares track the economic performance and value of the Company's
Quebec assets, including its significant natural gas discovery in the Quebec
Utica shale. The Preferred Shares were issued in January 2026. This followed the
reorganization of the Company's share capital, as approved by the Common
shareholders at the Special Meeting held on January 15, 2026.

Subject to approval of the application for the Listing by Euronext Oslo Børs and
satisfaction of applicable conditions, the first day of trading in the Preferred
Shares on Euronext Growth Oslo is expected to be on or about June 30, 2026.

Michael Binnion, President and Chief Executive Officer of Questerre, commented,
"This listing on Euronext Growth Oslo gives our shareholders direct liquidity in
our Quebec assets. The market will have direct exposure to one of North
America's most important undeveloped natural gas resources. We believe this is
an important step in unlocking the full value of this discovery."

He added, "Our shareholders participate in the future of this discovery through
two paths. Should a political and business solution permit development of the
project, our Common and Preferred shareholders will share the asset equally,
subject to the Common shareholders funding a 10-well program to demonstrate
commercial advancement of the project."

He further added, "Should development not proceed, any financial compensation
received by the Company would be allocated 95% to the Preferred shareholders and
5% to the Common shareholders. According to an independent expert report, the
damages related to the discovery are estimated to be between C$700 million and
C$4.8 billion. To optimize the tax treatment of any such distribution, and in
accordance with articles of the Company, the Preferred Shares would be converted
into Common Shares based on the 90-day volume weighted average trading price of
the Common Shares immediately prior to the distribution."

In connection with the proposed Listing, the Company intends to place before the
Common and Preferred shareholders a vote on a consolidation of the Preferred
Shares at the Annual and Special Meeting of Shareholders scheduled for June 23,
2026. The initial proposal in the Management Information Circular dated May 23,
2026 (the "Circular"), reflected a consolidation of the Preferred Shares on a
100:1 basis. Following the mailing of the Circular, the Company plans to amend
this resolution to a proposed consolidation on a 10:1 basis. This will result in
approximately 45,221,345 Preferred Shares outstanding. The proposed
consolidation will be subject to shareholder and regulatory approval.

The consolidation will be implemented prior to the first day of trading of the
Preferred Shares on Euronext Growth Oslo. SB1 Markets AS is acting as Euronext
Growth Advisor and Wikborg Rein Advokatfirma AS is acting as legal advisor to
the Company in connection with the Listing. 

Questerre is an energy technology and innovation company focused on responsibly
developing oil and gas resources. The Company holds a significant natural gas
discovery in the Quebec Utica shale, widely recognized as one of the most
important undeveloped natural gas resources in Eastern Canada. The Company
believes society can successfully transition its energy portfolio. With new
clean technologies and innovation to responsibly produce and use energy, society
can sustain both human progress and the natural environment. 

Questerre is a believer that the future success of the energy industry depends
on a balance of economics, environment, and society. We are committed to being
transparent and are respectful that the public must be part of making the
important choices for our energy future.

For further information, please contact:

Questerre Energy Corporation
Jason D'Silva, Chief Financial Officer
(403) 777-1185 | (403) 777-1578 (FAX) |Email: info@questerre.com

Advisory Regarding Forward-Looking Statements This news release contains certain
statements which constitute forward-looking statements or information
("forward-looking statements") within the meaning of applicable securities laws
in Canada. Any statements about Questerre's expectations, beliefs, plans, goals,
targets, predictions, forecasts, objectives, assumptions, information and
statements about possible future events, conditions and results of operations or
performance are not historical facts and may be forward-looking. Forward-looking
information is often, but not always, made through the use of words or phrases
such as "anticipates", "aims", "strives", "seeks", "believes", "can", "could",
"may", "predicts", "potential", "should", "will", "estimates", "plans",
"mileposts", "projects", "continuing", "ongoing", "expects", "intends" and
similar words or phrases suggesting future outcomes. Forward-looking information
in this news release includes the submission and approval of the application for
the Listing, the satisfaction of the applicable listing conditions, the expected
first day of trading, the Company's views on providing its shareholders
liquidity in its Quebec assets and the approval of the consolidation of the
Preferred Shares by the Common and Preferred shareholders.

Although Questerre believes that the expectations reflected in these
forward-looking statements are reasonable, undue reliance should not be placed
on them because Questerre can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and conditions,
by their very nature they involve inherent risks and uncertainties. Current
conditions, economic and otherwise, render assumptions, although reasonable when
made, subject to greater uncertainty. Undue reliance should not be placed on
forward-looking information as actual results may differ materially from those
expressed or implied by forward-looking information. 

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; 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. 

Additional information regarding some of these risks, expectations or
assumptions and other risk factors may be found in the Company's Annual
Information Form for the year ended December 31, 2025, and other documents
available on the Company's profile at www.sedarplus.ca. Readers are cautioned
not to place undue reliance on these forward looking statements. The
forward-looking statements contained in this news release are made as of the
date hereof and Questerre undertakes no obligations to update publicly or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise, unless so required by applicable securities laws.
reof and Questerre undertakes no obligations to update publicly or revise\
any forward-looking statements\, whether as a result of new information\, future\
events or otherwise\, unless so required by applicable securities laws.\