CALGARY - Frontera Energy Corporation (TSX: FEC) ('Frontera' or the 'Company') today released its 2021 Sustainability Report (the 'Sustainability Report'), announced its 2022 environmental, social and governance ('ESG') targets and reaffirmed its commitment to continue to develop and implement meaningful actions to strengthen its ESG performance across its business.

Orlando Cabrales, Chief Executive Officer, Frontera commented: 'I am pleased to report that Frontera achieved 98% of its 2021 ESG goals and I am excited by the challenge of delivering our 2022 ESG goals and objectives. Frontera's ESG strategy is guided by our values of integrity, respect, commitment, sustainability and culture. We are building a sustainable future through operational excellence and business integrity, caring for the health and safety of our people and the communities where we operate, being responsible with the ecosystems and the environment, and creating value for our social setting.'

Frontera's 2021 Sustainability Report report details Frontera's sustainability challenges, the Company's performance against its 2021 ESG goals and publicly establishes its 2022 ESG objectives. The 2021 Sustainability Report covers the period from January 1, 2021 to December 31, 2021 and has been prepared in accordance with the Sustainable Accounting Standards Board (SASB), Task Force on Climate-Related Financial Disclosures (TCFD), Carbon Disclosure Project (CDP) and the Global Reporting Initiative (GRI), the Global Compact, the Voluntary Principles on Human Rights and Security, and the UN Sustainable Development Goals. Frontera has voluntarily published annual Sustainability Reports since 2016 as part of its continuous and transparent disclosure efforts to highlight its ESG achievements and challenges.

About Frontera

Frontera Energy Corporation is a Canadian public company involved in the exploration, development, production, transportation, storage and sale of oil and natural gas in South America, including related investments in both upstream and midstream facilities. The Company has a diversified portfolio of assets with interests in 34 exploration and production blocks in Colombia, Ecuador and Guyana, and pipeline and port facilities in Colombia. Frontera is committed to conducting business safely and in a socially, environmentally and ethically responsible manner.

Cautionary Note Concerning Forward-Looking Statements

This press release contains forward-looking information within the meaning of Canadian securities laws. Forward-looking information relates to activities, events or developments that Frontera believes, expects or anticipates will or may occur in the future. Forward-looking information in this presentation includes, without limitation, Frontera's 2022 ESG goals and expectations regarding the Company's 2022 Sustainability Report. All information other than historical fact is forward-looking information.

Forward-looking information reflects the current expectations, assumptions and beliefs of Frontera based on information currently available to it and considers the experience of Frontera and its perception of historical trends. Although Frontera believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be placed on such information. Forward-looking information is subject to a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Frontera. The actual results of Frontera may differ materially from those expressed or implied by the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Frontera. The annual information form of Frontera for the year ended December 31, 2021, and Frontera's management's discussion and analysis for the year ended December 31, 2021, and quarter ended March 31, 2022, and other documents Frontera files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available without charge by referring to Frontera's profile on SEDAR at www.sedar.com. All forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Frontera disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.

Contact:

Brent Anderson

Tel: 403-705-8827

Email: ir@fronteraenergy.ca

Web: www.fronteraenergy.ca

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