Saturn Oil & Gas Inc. Announces TSX Approval to Renew the Normal Course Issuer Bid Following Successful Completion of Existing Program

Core Viewpoint - Saturn Oil & Gas Inc. has received approval from the Toronto Stock Exchange to renew its Normal Course Issuer Bid (NCIB) for an additional year, following the successful completion of the previous NCIB [1][6]. Group 1: NCIB Details - The renewed NCIB allows Saturn to repurchase up to 12,078,583 common shares, which is approximately 10% of the public float as defined by the TSX [4]. - As of August 21, 2025, Saturn had 192,858,149 shares issued and outstanding, with 120,785,837 shares in the public float [4]. - The NCIB will be effective from August 27, 2025, to August 26, 2026, or until it is completed or terminated by the company [4]. Group 2: Share Repurchase Performance - Under the previous NCIB, Saturn repurchased and canceled 9,732,312 shares for a total of $20.3 million, at an average price of $2.09 per share [2]. - The total shares repurchased from August 27, 2024, to July 31, 2025, amounted to 11.3 million, representing a reduction of approximately 6% in shares outstanding [2]. Group 3: Strategic Intent - The company believes there are discrepancies between the current share price and the inherent value of the business, and the NCIB is seen as a method to enhance shareholder value [3]. - Delivering returns to shareholders is a fundamental aspect of the company's strategy, with share buybacks viewed as an effective tool [3]. Group 4: Purchase Mechanism - The maximum number of shares that can be repurchased in a single trading day is 65,420, which is 25% of the average daily trading volume over the past six months [5]. - ATB Capital Markets will conduct the NCIB on behalf of the company, with purchases made on the open market in accordance with regulatory requirements [5]. Group 5: Automatic Securities Purchase Plan - The company has established an automatic securities purchase plan with ATB to facilitate purchases under the NCIB [7]. - Purchases will be made at ATB's discretion, adhering to the limitations of the plan and TSX rules [7].