Pieridae Hires New Chief Operating Officer

COO Brings Proven Track Record of Safely Operating Complex Sour Gas Assets

CALGARY, ALBERTA – April 1, 2021 - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) announced today it has hired a new Chief Operating Officer (“COO”). Darcy Reding will join the Pieridae team April 5th. Mr. Reding is a professional engineer with 30 years of success in small and midsized private and public upstream oil and gas companies, with 20 years in leadership roles.

“We are extremely pleased that Darcy has agreed to join our organization,” said Pieridae CEO Alfred Sorensen. ”It is critical we have someone with senior-level experience running complex sour gas assets. Darcy brings us that skill set and is well positioned to take full advantage of the opportunities Pieridae’s assets offer.

“We also needed someone with a proven record of building a resource base and economically bringing on new reserves that will be critical to filling our gas plants and delivering long-term success,” added Sorensen. “Darcy has previously managed a billion-dollar multi-year program to successfully grow production volumes.”

“I look forward to joining Pieridae and hitting the ground running,” said new Chief Operating Officer Darcy Reding. “My focus will be to ensure the Company’s world-class upstream natural gas infrastructure continues to operate with an impeccable safety and environmental record, while providing an efficient and competitive natural gas processing solution for the Company and its customers.

“My other priorities include building a strong performance-driven culture positioned to deliver on clear and well-understood corporate objectives, and continuing to build and strengthen the technical and economic readiness of the drilling inventory that provides the feedstock for the Goldboro LNG project,” concluded Reding.

Mr. Reding has proven success in creating and executing corporate and ESG strategies while developing and leading high-performing, multi-disciplinary teams consistently outperforming targets and delivering stakeholder value. He spent the last decade at NAL Resources as VP Operations and VP Operations & Geoscience. Prior to NAL, Mr. Reding held progressive technical and leadership roles with Norcen Energy, Northrock Resources, Samson Exploration and Enterra Energy Trust.

About Pieridae:

Founded in 2011, Pieridae, a majority Canadian owned corporation based in Calgary, is focused on the development of integrated energy-related activities, from the exploration and extraction of natural gas to the development, construction and operation of the Goldboro LNG facility and the production of LNG for sale to Europe and other markets. Pieridae is on the leading edge of the re-integration of the LNG value chain in North America. After completion of all the transactions disclosed in this news release, Pieridae has 157,641,871 common shares issued and outstanding which trade on the TSX (“PEA.TO”).

For further information please contact:

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

Rob Dargewitcz, Chief Financial Officer
Telephone: (403) 261-5900

James Millar, Director, External Relations
Telephone: (403) 261-5900