Acquisition | PIPESTONE ENERGY CORP | 3rd October 2023

On August 1, 2023 Strathcona Resources Ltd. and PIPESTONE ENERGY CORP announced that they have entered into a definitive agreement to form a new corporation in which Strathcona will acquire all of the issued and outstanding common shares of PIPESTONE ENERGY CORP for a share consideration of 0.067967 NewCo Shares. PIPESTONE ENERGY CORP shareholders approved the arrangement on September 27,2023. The Arrangement is expected to close on October 3, 2023, subject to the receipt of a final order from the Court of King?s Bench of Alberta with respect to the Arrangement and the satisfaction or waiver of customary closing conditions.

• PIPESTONE ENERGY CORP will be removed from the Index.
• The weight of PIPESTONE ENERGY CORP (PIPE.TO) based on its last close price will be distributed pro rata to remaining Index constituents.
• Effective Date (open): 03/10/2023

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