August 29, 2025. — Strathcona Resources Ltd. announced its intention to purchase an additional 5% of the outstanding common shares of MEG Energy Corp., subject to market conditions and applicable securities laws.
Strathcona currently holds 23.4 million MEG Shares, representing approximately 9.2% of the issued and outstanding shares. The company may acquire up to an additional 5% of the outstanding MEG Shares while the offer is outstanding, potentially increasing its stake to approximately 14.2%.
Following discussions with fellow MEG shareholders, Strathcona intends to vote its MEG Shares against the resolution to approve the acquisition of MEG by Cenovus Energy Inc., which requires approval by at least 66 2/3% of the votes cast at the special meeting of MEG shareholders scheduled for October 9, 2025.
Purchases of MEG Shares will occur as soon as practicable and from time to time, in accordance with applicable securities laws. Strathcona will disclose information concerning the number of MEG Shares purchased after the close of business on each day on which purchases occur.
The offer is scheduled to expire at 5:00 p.m. (Mountain Time) on September 15, 2025.
For inquiries, contact Strathcona by email at info@strathconaresources.com or by phone at (403) 930-3000, or Laurel Hill Advisory Group by email at assistance@laurelhill.com or by phone at 1-877-452-7184 (Toll-Free).
Source: Strathcona Resources Ltd.
