NEWSROOM

Annual recognition highlights organizations that have demonstrated a commitment to business integrity through robust ethics, compliance, and governance programs

CALGARY, AB, March 4, 2024 /CNW/ - Frontera Energy Corporation (TSX: FEC) ("Frontera" or the "Company"), has received the 2024 World's Most Ethical Companies^® recognition by Ethisphere, a global leader in defining and advancing the standards of ethical business practices.

Frontera has been recognized for the fourth time since 2021 and is one of only two honorees in the Oil & Gas industry. In 2024, 136 honorees were recognized spanning 20 countries and 44 industries.

Orlando Cabrales, Chief Executive Officer, Frontera commented:

"Frontera is very proud to be recognized for the fourth consecutive year as a World's Most Ethical Companies honoree and one of only two honorees in the global Oil & Gas industry. This recognition is a reflection of our unwavering commitment to transparency and integrity, and aligns with our mission to be a force that contributes to the sustainable development of the regions where we operate."

Ana Lucia Goyes, Chief Compliance Officer, Frontera commented:

"This recognition is a testament to our commitment to the highest standards of ethics and integrity that we seek to demonstrate every day. We strive to go one step ahead and be integrity influencers for our stakeholders in the regions where we operate"

Erica Salmon Byrne, Ethisphere Chief Strategy Officer and Executive Chair commented:

"It's always inspiring to recognize the World's Most Ethical Companies^®. Through the rigorous review process, we see the dedication of these organizations to continually improving their ethics, compliance, and governance practices to the benefit of all stakeholders," said Erica Salmon Byrne, Ethisphere's Chief Strategy Officer and Executive Chair. "Companies that elevate best-in-class cultures of ethics and integrity set a standard for corporate citizenship for their peers and competitors to follow. Congratulations to Frontera for achieving this honor and demonstrating that strong ethics is good business."

The listed 2024 World's Most Ethical Companies^® Honorees outperformed a comparable index of global companies by 12.3 percentage points from January 2019 to January 2024.

The World's Most Ethical Companies assessment is grounded in Ethisphere's proprietary Ethics Quotient^®, an extensive questionnaire that requires companies to provide over 240 different proof points on their culture of ethics; environmental, social, and governance (ESG) practices; ethics and compliance program; diversity, equity, & inclusion; and initiatives that support a strong value chain. That data undergoes further qualitative analysis by our panel of experts who spend thousands of hours vetting and evaluating each year's group of applicants. This process serves as an operating framework to capture and codify truly best-in-class ethics and compliance practices from organizations across industries and from around the world.

To view the full list of this year's honorees, please visit the World's Most Ethical Companies website, at https://worldsmostethicalcompanies.com/honorees.

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 27 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.

Ethisphere is the global leader in defining and advancing the standards of ethical business practices that strengthen corporate brands, build trust in the marketplace, and deliver business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies build strong cultures of ethics and integrity. Ethisphere honors superior achievement through its World's Most Ethical Companies^® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA), and showcases trends and best practices in ethics with Ethisphere Magazine. Ethisphere also advances business performance through data-driven assessments, guidance, and benchmarking against its unparalleled data: the Culture Quotient dataset reflecting the ethical business practices of 3+ million employees around the world; and the Ethics Quotient dataset, featuring 240+ data points on the ethics, compliance, social, and governance practices of the World's Most Ethical Companies. For more information, visit https://ethisphere.com.

SOURCE Frontera Energy Corporation