RNS Number : 8163R

Gran Tierra Energy Inc.

05 March 2019

March 5, 2019

Gran Tierra Energy Inc.

(the "Company")

Notification of Transactions in the Company's Shares by Director and Persons Discharging Managerial Responsibility

The Company announces the following transactions in Performance Stock Units and Stock Options undertaken by directors / persons discharging managerial responsibility ("PDMRs").

Performance Stock Units ("PSUs") and Stock Options have been granted to PDMRs effective March 1, 2019.  The PSUs entitle the holder to receive, at the option of the Company, either the underlying number of shares of the Company's common stock upon vesting of such units or a cash payment equal to the value of the underlying shares. The PSUs granted on March 1, 2019 vest after three years, subject to the continued employment of the grantee. Upon vesting, the underlying number of common shares or the cash payment equivalent to their value may range from zero to 200% of the number of PSU's vested, based on the Company's performance with respect to the applicable performance targets.

Each Stock Option permits the holder to purchase one share of common stock of the Company at the stated exercise price. The exercise price equals the market price of a share of common stock at the time of grant. Stock Options vest over three years and expire five years from the date of issue.

The notification set out below is provided in accordance with the requirement of Article 19 of the EU Market Abuse Regulation.

Contact Information:

Gary Guidry
Chief Executive Officer

Ryan Ellson
Chief Financial Officer

Rodger Trimble
Vice President, Investor Relations

(403) 265-3221

info@grantierra.com

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Gary Guidry, President and Chief Executive Officer

Ed Caldwell, Vice President, Health Safety and Environment & Corp. Social Responsibility

Ryan Ellson, Chief Financial Officer

Jim Evans, Vice President, Corporate Services

Alan Johnson, Vice President, Asset Management

Glen Mah, Vice President, Business Development

Susan Mawdsley, Vice President, Finance and Corporate Controller

Rodger Trimble, Vice President, Investor Relations

Lawrence West, Vice President, Exploration

2

Reason for the notification

a)

Position/status

See 1 a) above

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Gran Tierra Energy Inc.

b)

LEI

549300IH2S17MAIUCM32

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Performance Stock Units

Each Performance Stock Unit represents a contingent right to receive one share of Gran Tierra Energy Inc. common stock.

Identification code

n/a

b)

Nature of the transaction

Grant of Performance Stock Units

c)

Price(s) and volume(s)

PDMR	Price(s)	Volume (s)
Gary Guidry Ed Caldwell Ryan Ellson Jim Evans Alan Johnson Glen Mah Susan Mawdsley Rodger Trimble Lawrence West	n/a n/a n/a n/a n/a n/a n/a n/a n/a	545,455 178,571 372,727 217,532 155,844 155,844 155,844 155,844 217,532

d)

Aggregated information

- Aggregated volume

- Price

Price(s)	Volume (s)
n/a	2,155,193

e)

Date of the transaction

1 March 2019

f)

Place of the transaction

Outside a trading venue

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Stock Options

Each Stock Option represents a right to purchase one share of Gran Tierra Energy Inc. common stock at the stated exercise price

Identification code

n/a

b)

Nature of the transaction

Grant of Stock Options

c)

Price(s) and volume(s)

PDMR	Price(s)	Volume (s)
Gary Guidry Ed Caldwell Ryan Ellson Jim Evans Alan Johnson Glen Mah Susan Mawdsley Rodger Trimble Lawrence West	USD 2.32 USD 2.32 USD 2.32 USD 2.32 USD 2.32 USD 2.32 USD 2.32 USD 2.32 USD 2.32	291,667 95,486 199,306 116,319 83,333 83,333 83,333 83,333 116,319

d)

Aggregated information

- Aggregated volume

- Price

Price(s)	Volume (s)
USD 2.32	1,152,429

e)

Date of the transaction

1 March 2019

f)

Place of the transaction

Outside a trading venue

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