Strathcona Resources Ltd. Provides Update on Form of $2.1 Billion Special Distribution

Core Viewpoint - Strathcona Resources Ltd. is set to distribute a special dividend of $2.142 billion to its shareholders as part of a business reorganization into a pure-play heavy oil company, following the sale of its Montney business segment [1][2]. Company Overview - Strathcona is recognized as one of North America's fastest-growing pure-play heavy oil producers, focusing on thermal oil and enhanced oil recovery [4]. - The company aims to achieve growth through the consolidation and development of long-life assets [4]. Special Distribution Details - The special distribution will be executed as part of a statutory plan of arrangement, allowing shareholders to choose between a dividend or a return of capital [2]. - Shareholder materials related to the special distribution are expected to be mailed in October 2025, with the shareholder meeting and payment scheduled for the fourth quarter of 2025 [3]. - The distribution is contingent upon approval from Strathcona's board of directors and necessary regulatory approvals [3].