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Pieridae Releases 2022 Environmental, Social and Governance Report

Press Release

CALGARY, ALBERTA – October 11, 2022 – Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) is pleased to release its 2022 Environmental, Social and Governance (“ESG”) Report, detailing the Company’s ESG performance for the year ended December 31, 2021 and progress in the past year.

Pieridae strives for excellence in all aspects of its ESG performance and is committed to the safe and responsible production and delivery of reliable natural gas and natural gas liquids. The Company’s ESG vision is to be responsible stewards of the environment, foster mutually beneficial relationships with Indigenous Peoples in Canada and our stakeholders, and be leaders in demonstrating good governance to establish trust, act with purpose and support Pieridae’s business vision.

“We continue our strategic focus on meeting the global demand for sustainable and reliable energy in an ethical and equitable manner. We are focused on improving our engagement efforts, diversity and inclusion skills and Indigenous knowledge base: we are not perfect, but we are active learners” said Pieridae’s Chief Executive Officer, Alfred Sorensen.

Highlights

  • Increased the percentage of women on our Board from 12.5% to 37.5% from 2020 to 2022;
  • Added a Director of ESG to the Senior Leadership Team in 2022;
  • Performed an updated ESG Materiality Assessment with a broad range of stakeholders in 2022;
  • Expanded ESG Data disclosures to follow the notable international reporting framework from the Sustainability Accounting Standards Board (“SASB”), in addition to referencing frameworks from the Taskforce on Climate Related Financial Disclosures (“TSFD”), and the Global Reporting Initiative (“GRI”);
  • Held three Indigenous knowledge-sharing events in 2021 and 2022, including a Workshop for Senior Management;
  • Reduced total Scope 1 GHG emissions by 5% from 2020 to 2021 and reduced combined Scope 1 and 2 GHG emissions intensity by 2.8% from 2020 to 2021; and
  • Contributed $125,000 of community and social investment funding in 2021 to organizations such as local food banks, community associations and events.

Pieridae’s ongoing commitment to responsible and sustainable energy production for Canadians is demonstrated in the 2022 ESG Report. To read the full report, please visit www.pieridaeenergy.com

About Pieridae
Pieridae is a majority Canadian‐owned corporation based in Calgary that was founded in 2011. The Company is focused on the exploration, extraction and processing of natural gas as well as analyzing options for a reconfigured LNG Project that fits with the current environment and would supply Europe and other markets. Pieridae provides the energy to fuel people’s daily lives while supporting the environment and the transition to a lower‐carbon economy.

For further information please contact:

Alfred Sorensen, Chief Executive Officer
Telephone: (403) 261‐5900

Adam Gray, Chief Financial Officer
Telephone: (403) 261‐5900

Investor Relations
[email protected]

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