Strathcona Resources Ltd. Receives Court Approval for Special Distribution

About this update from Strathcona Resources Ltd.

Strathcona Resources Ltd. Receives Court Approval for Special Distribution /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } Canada NewsWire CALGARY, AB, Nov. 28, 2025 /CNW/ - Strathcona Resources Ltd. ("Strathcona") today announced that the Court of King's Bench of Alberta issued a final order approving the previously announced plan of arrangement pursuant to Section 193 of the Business Corporations Act (Alberta), under which Strathcona will make a special distribution of $10.00 per share, or approximately $2.142 billion in aggregate, to its shareholders (the "Special Distribution"). The Special Distribution also received shareholder approval yesterday at a special meeting to consider the Special Distribution. Timeline/Next Steps The Special Distribution is expected to be effected on December 22, 2025.Shareholders may elect to receive the Special Distribution as a return of capital by following the procedures set out in Strathcona's management information circular dated October 28, 2025 (the "Circular") and related materials, which are available under Strathcona's profile on SEDAR+ or under the "Investors" section of Strathcona's website www.strathconaresources.com. Any such election is optional and no election or other action is required to be taken by a shareholder to receive the Special Distribution as a dividend, unless such shareholder is a registered shareholder whose common shares are represented by certificate(s). The election deadline is 5:00 p.m. (Calgary time) on December 16, 2025.Beneficial shareholders will receive payment from their intermediary (usually a bank, trust company, securities broker or other financial institution) on or after December 22, 2025, depending on such intermediary's procedures. Odyssey Trust Company will deliver payment to each registered shareholder as soon as practicable after December 22, 2025.Upon completion of the Special Distribution, Strathcona's common shares will be assigned new CUSIP and ISIN numbers. Common shares will continue to trade under the existing CUSIP and ISIN numbers (862952108/CA8629521086) until the close of business on December 22, 2025, representing the entitlement of holders of s...

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