Strathcona Resources Ltd. Receives TSX Approval for Normal Course Issuer Bid

Core Viewpoint - Strathcona Resources Ltd. has received approval from the Toronto Stock Exchange to initiate a normal course issuer bid (NCIB) to repurchase up to 5% of its outstanding common shares, aiming to enhance long-term shareholder returns as the market price does not reflect the underlying value of the business [1]. Group 1: NCIB Details - The NCIB allows Strathcona to purchase up to 10,711,780 common shares, based on 214,235,608 shares outstanding as of March 5, 2026 [1]. - Purchases will be made through the TSX and other designated exchanges, with a limit of 25% of the average daily trading volume, which is 162,460 shares for the six-month period from September 1, 2025, to February 28, 2026 [1]. - The NCIB will commence on March 17, 2026, and will expire on March 16, 2027, or when the maximum number of shares is acquired [1]. Group 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 [1]. - The company employs an innovative growth strategy through the consolidation and development of long-life assets [1].