PEY Peyto Exploration and Development Corp

Peyto Exploration & Development Corp. (TSX – PEY) ("Peyto") is pleased to announce that the nominees listed in the information circular – proxy statement dated March 28, 2023 were elected as directors of Peyto at Peyto's annual meeting of shareholders (the "Meeting") held today, June 13, 2023. The detailed results of the vote for the election of directors held at the Meeting are set out below.

Election of Directors

On a vote by ballot, each of the following eight nominees proposed by management was elected as a director of Peyto:

Nominee		Outcome of Vote		Votes For		Votes Withheld
Donald Gray		Elected		47,729,123		46,599,621
Michael MacBean		Elected		74,156,222		20,172,522
Brian Davis		Elected		87,312,482		7,016,262
Darren Gee		Elected		88,414,884		5,913,860
Jean-Paul Lachance		Elected		92,395,011		1,933,733
Jocelyn McMinn		Elected		91,258,108		3,070,636
John W. Rossall		Elected		85,468,174		8,860,570
Debra Gerlach		Elected		92,727,012		1,601,732

Gregory Fletcher and Kathy Turgeon did not stand for re-election as directors at the Meeting. Peyto wishes to thank each of Mr. Fletcher and Ms. Turgeon for their service as directors of Peyto. Ms. Turgeon continues to serve as the Vice President and Chief Financial Officer of Peyto.

For further information please contact:

Jean-Paul Lachance
President and Chief Executive Officer
Phone:	(403) 451-4111
Fax:	(403) 451-4100