MEG Energy Reports 2024 Director Election Voting Results

CALGARY, May 7, 2024 - MEG Energy Corp. ("MEG" or the "Corporation") (TSX: MEG) is pleased to announce that at its annual meeting of shareholders held on May 7, 2024 (the "Meeting"), all resolutions were approved as follows:

Election of Directors

Each of the nine (9) nominees listed in its Management Information Circular dated March 18, 2024, were elected as directors. The results of the shares voted in respect of the election of each director are set out below.

Appointment of Auditor

An ordinary resolution was passed approving the appointment of PricewaterhouseCoopers LLP as auditor of the Corporation for the ensuing year at such remuneration as the directors of the Corporation may determine.

Non-Binding Advisory Vote on Approach to Executive Compensation

An advisory resolution was passed accepting the Corporation's approach to executive compensation. The voting results were as follows:

Full voting results for the meeting are also available on SEDAR+ at www.sedarplus.ca.

MEG is an energy company focused on sustainable in situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. MEG is actively developing innovative enhanced oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the responsible economic recovery of oil as well as lower carbon emissions. MEG transports and sells thermal oil (AWB) to customers throughout North America and internationally. MEG is a member of the Pathways Alliance, a group of Canada's largest oil sands producers working together to address climate change and achieve the goal of net zero emissions¹ by 2050. MEG's common shares are listed on the Toronto Stock Exchange under the symbol "MEG" (TSX: MEG).

Learn more at www.megenergy.com.

For further information, please contact:

Investor Relations
T 403.767.0515
E invest@megenergy.com

Media Relations
T 403.775.1131
E media@megenergy.com

SOURCE MEG Energy Corp.