Strathcona Boosts Stake in MEG Energy: A Strategic Move

In a significant move that underscores its confidence in the energy sector, Strathcona Resources Ltd. has confirmed the acquisition of an additional 1,500,000 common shares of MEG Energy Corp. This latest transaction further solidifies Strathcona's substantial investment in MEG Energy, a key player in the Canadian oil sands industry.

The acquisition, which was completed through a private agreement on September 18, 2025, saw Strathcona purchase these shares at a price of C$20.45 per share.

This brought the total consideration for this particular transaction to an impressive C$30,675,000, signaling a robust commitment from Strathcona Resources.

Prior to this recent purchase, Strathcona Resources held 44,800,000 common shares of MEG Energy, representing approximately 15.86% of the outstanding shares.

With the addition of these 1.5 million shares, Strathcona's total ownership now stands at 46,300,000 common shares, translating to a significant 16.39% stake in MEG Energy Corp. This increase of 0.53% in ownership firmly establishes Strathcona's position as a major long-term shareholder.

Strathcona Resources has consistently stated that its holdings in MEG Energy are primarily for investment purposes.

This latest acquisition reinforces that strategic outlook. The company also maintains flexibility regarding its future actions, indicating that it may, from time to time, acquire additional common shares or dispose of existing ones, depending on market conditions, the business, and the financial condition of MEG Energy, as well as other relevant factors.

As a leading Calgary-based oil and gas producer, Strathcona Resources Ltd.

is known for its strategic investments and operational expertise within the energy landscape. Its continued investment in MEG Energy suggests a positive long-term view on MEG’s assets and future performance, reflecting broader trends and opportunities within the Canadian energy market.

This increased stake is likely to be watched closely by market analysts and stakeholders, as it could potentially influence future strategic directions and strengthen the ties between two significant entities in Canada’s vital energy sector.