Gibson Energy Inc. · TSX:GEI
Gibson Energy — Merger or Acquisition (February 2026)
15 slides from Gibson Energy's merger presentation, Feb 10, 2026
Slide 1: Acquisition of Complementary Chauvin Infrastructure Assets
Delivering on Focused Disciplined Growth Acquisition of Complementary Chauvin Infrastructure Assets February 2026 TSX I GEI
Slide 2: Legal Notice
Legal Notice A short form base shelf prospectus (the “Base Shelf Prospectus”) of Gibson Energy Inc. (“Gibson”, “we”, “our” or the “Company”) dated February 6, 2026, containing important information relating to the securities described in this document has been filed with the securities regulatory au
Slide 3: Forward-Looking Statement Notice
Forward-Looking Statement Notice Definitions All references in this presentation (the “Presentation”) to Gibson’s business and asset base are only inclusive of the equity portion of facilities Gibson owns and operates. Forward-Looking Statements Certain statements contained in this document constitu
Slide 4: Transaction Summary
Transaction Summary Expands conventional heavy crude capabilities with immediate organic growth upside Gibson to acquire ~30 mbbl/d(1) 50% of volume Two actionable Teine Energy’s crude oil pipeline & contracted with expansion infrastructure Teine Energy opportunities portfolio of Hardisty oil hub-co
Slide 5: Transaction Highlights
Transaction Highlights Strategically located crude oil infrastructure platform directly connected to the Hardisty oil hub Platform Connectivity Resource Customers Growth Value Value chain Expands and Proven and Establishes Shovel-ready Delivers mid extension extends attractive relationship with port
Slide 6: Acquired Assets are Highly Integrated with Core Hardisty Terminal
Acquired Assets are Highly Integrated with Core Hardisty Terminal The Hardisty oil hub-connected assets support Gibson’s infrastructure growth objectives System Geographic Footprint Chauvin Crude Oil Pipeline T44 Chauvin + ~75 km pipeline from Chauvin to the Hardisty oil hub T43 Hardisty Terminal Oi
Slide 7: Robust Upstream Supply Dynamics
Robust Upstream Supply Dynamics Mannville development expected to fuel future growth Area Activity Map Catchment Area Oil Production Overview T50 (mbbl/d) T49 ~5.5% T48 CAGR T47 T46 T45 108 Chauvin Hardisty Terminal T44 83 Oil Hub T43 Jan. 2021 Nov. 2025 T42 T41 + Low well costs, strong initial prod
Slide 8: Two Immediately Actionable Organic Growth Projects
Two Immediately Actionable Organic Growth Projects Near-term infrastructure growth projects competitive with highest-return organic opportunities Gibson Hardisty Connection ✓ Conditionally sanctioned project to add interconnection with Gibson's existing Hardisty terminal assets (currently connected
Slide 9: Accelerates Achievement of Investor Day Growth Goals
Accelerates Achievement of Investor Day Growth Goals Acquisition allows Gibson to materially accelerate its pipeline network extension goal, with expectations to facilitate new partnerships through the extension of its reach from its core Hardisty terminal Enhanced Accelerated Producer Extend Pipeli
Slide 10: Enhances Gibson's Financial Profile
Enhances Gibson’s Financial Profile Accretive on-strategy transaction while maintaining Gibson’s strong financial position Segment EBITDA(1) Growth ($mm; $/sh) Chauvin Infrastructure Immediately Accretive Marketing Infrastructure Chauvin + Mid-single digit accretion to DCF per share Infrastructure A
Slide 11: Committed to Disciplined Financial Principles
Committed to Disciplined Financial Principles Adhering to Gibson’s key financial principles and maintaining investment grade credit ratings Net Debt / Adjusted EBITDA(1,2) Leverage Neutral + $215 million funded through fully underwritten equity offering + Pro forma infrastructure-only leverage ratio
Slide 12: Aligned with Gibson's Focused and Disciplined Strategy
Aligned with Gibson’s Focused and Disciplined Strategy Strategically aligned Acquisition strengthens Gibson’s value proposition Consistent with Complements Accelerates Crude Oil Gibson’s focus on crude oil Crown Jewel Gibson’s existing asset base Infrastructure infrastructure growth objectives Focus
Slide 13: Readers' Advisory
Readers’ Advisory This Presentation has been prepared by Gibson solely for information purposes. Recipients of this Presentation may not reproduce or otherwise redistribute, in whole or in part, the Presentation to any other person. This Presentation does not constitute an offer to sell or a solicit
Slide 14: Specified Financial Measures
Specified Financial Measures This Presentation contains references to certain non-IFRS financial measures and ratios and industry measures that are used by the Company, as indicators of financial performance. These measures include: EBITDA, Adjusted EBITDA, Infrastructure Adjusted EBITDA, Marketing
Slide 15: Contact Information
Contact Information Investor Relations (403) 776-3077 investor.relations@gibsonenergy.com Media Relations (403) 476-6334 communications@gibsonenergy.com www.gibsonenergy.com FEBRUARY 2026 | TSX GEI
Gibson Energy — Merger or Acquisition (February 2026) on 6ix