Mr. Mark Stainthorpe reports

CANADIAN NATURAL RESOURCES LIMITED ANNOUNCES QUARTERLY DIVIDEND

Canadian Natural Resources Ltd.'s board of directors approved a 5-per-cent increase to its quarterly cash dividend on its common shares to $1.05 per common share. The dividend will be payable on April 5, 2024, to shareholders of record at the close of business on March 15, 2024.

Since March 2, 2023, the company has increased its quarterly dividend 24 per cent through three separate increases for a combined increase of 20 cents per common share. This demonstrates the confidence that the board of directors has in the sustainability of the company's business model, the company's strong balance sheet, and the strength of the company's diverse long-life, low-decline reserves and asset base. The company's leading record of dividend increases continues, with 2024 marking the 24th consecutive year of dividend increases with a compound annual growth rate (CAGR) of 21 per cent over that time.

Canadian Natural is a senior crude oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the United Kingdom portion of the North Sea and offshore Africa.

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