Questerre enters mediation protocol in Quebec proceedings

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THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS

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CALGARY, Alberta, Sept. 03, 2026 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (Euronext Growth Oslo: QGAS) (TSE, OSE: QEC) announced today that it has signed a mediation protocol with the Attorney General of Quebec and the Quebec Ministry of the Economy, Innovation and Energy. Utica Resources Inc., Gaspé Énergies Inc., Utica Resources Northeast Inc., Utica Resources Southwest Inc. and Utica Resources Joly Inc. (collectively “Utica”), a separate plaintiff in the test cases, are also parties to the protocol.

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The mediation relates to Quebec Superior Court files 200-17-028534-188, 200-17-033326-224 and 200-17-032721-219. The mediator will be selected by agreement of the parties. Sessions will be held in Quebec City.

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Under the protocol, the parties will jointly apply to the court to have next steps in the court timetable in these files deferred by a minimum of 120 days from the date of signature. The mediation is voluntary and non-binding, and no party is obliged to reach an agreement.

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The mediation process is confidential. The Company will not comment further on the proceedings or the mediation while it continues, except as required by securities law.

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Questerre is an energy technology and innovation company focused on responsibly developing oil and gas resources.

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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 but is not limited to the appointment of a mediator, the application to defer the next steps in the court timetable and the mediation process.

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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.

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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.