Mr. Curtis Philippon reports

GIBSON ENERGY ANNOUNCES MAJOR CONTRACT EXTENSIONS OF 20 AND 10 YEARS AT EDMONTON, SANCTIONING OF NEW WINK-TO-GATEWAY INTEGRATION PROJECT, AND $150 MILLION OF GROWTH CAPITAL IN 2026

Gibson Energy Inc. has renewed a 20-year take-or-pay refined products services agreement with a senior integrated oil sands customer at its Edmonton terminal and has extended a terminal storage take-or-pay agreement by an additional 10 years with a senior integrated oil sands customer. The company also sanctioned an infrastructure project in Texas to further support United States growth.

Key highlights:

• Renewed refined products services agreement with a senior integrated oil sands company at Edmonton by 20 years;
• Extended terminal storage agreement with a senior integrated oil sands company at Edmonton by 10 years;
• Announced new Wink-to-Gateway integration capital project of approximately $50-million, which includes new tankage at Wink and a new pipeline connection at Gateway to drive increased throughput;
• Provided 2026 growth capital guidance of $150-million.

Contract extensions of 20 and 10 years at Edmonton

Gibson renewed a 20-year take-or-pay contract supporting refined products services at its Edmonton terminal with a senior integrated oil sands customer. The company also extended a terminal storage take-or-pay agreement with a senior integrated oil sands customer covering 800,000 barrels of tankage by an incremental 10 years. These commitments underscore the critical role of the Edmonton terminal within the broader global energy landscape.

"The extension of these long-term, take-or-pay contracts at Edmonton speaks to the growing demand for our infrastructure services and the essential role our assets play in supporting our customers," said Curtis Philippon, president and chief executive officer. "We appreciate the continued trust our customers place in us and are proud to support them as a reliable and long-term partner."

Growth capital guidance

The company also announced its 2026 growth capital guidance of $150-million, including approximately $50-million of sanctioned capital predominantly related to the Wink-to-Gateway integration project. The scope of this project will include new tankage and upgrades at Wink and a connector pipeline at Gateway to enable concurrent Permian and Eagle Ford flows. Enhancements will support growing customer demand, ease capacity constraints and increase access to supply for Gateway customers.

The balance of the 2026 growth capital program will be directed toward additional high-return opportunities across Gibson's asset base, which are currently being advanced and evaluated through the company's disciplined capital allocation framework.

"We are pleased to announce our 2026 capital budget, including the newly sanctioned Wink-to-Gateway project, which advances our Infrastructure growth strategy and supports our compelling total return proposition," said Riley Hicks, senior vice-president and chief financial officer. "As we execute these projects, we will remain focused on value creation and financial discipline, delivering within our target five-to-seven-times build multiple and ensuring our funding approach remains aligned with our financial principles."

Replacement capital guidance

Gibson's board of directors approved a replacement capital expenditure program of $50-million to $60-million in 2026. The program reflects continuing investment in the integrity and reliability of Gibson's infrastructure, reinforcing the company's commitment to safe, efficient and industry-leading operations.

Funding position

With this capital program, Gibson remains fully financed and expects to operate well within its financial principles, supported by growing, stable infrastructure cash flows in 2026.

Investor day details

For further information, Gibson will be hosting an investor day on the morning of Dec. 2, 2025, at LUMI Experience in Toronto, Ont. The event will be led by Gibson's Curtis Philippon, president and CEO.

The event will begin at 8:30 a.m. ET and is expected to conclude at 10 a.m. ET. Due to limited capacity, in-person attendance is by invitation only. Please contact Gibson investor relations for further details. A live broadcast and on-demand replay of the event will be available on Gibson's website in the investor centre. The company recommends signing into the event at least 15 minutes prior to the start to ensure sufficient time to register.

Event details

Date:  Dec. 2, 2025

Time:  8:30 a.m. Eastern Time (6:30 a.m. Mountain Time)

Presentation slides and supporting materials will be posted in the investor centre on Gibson's website, and a replay will be made available following the event.

About Gibson Energy Inc.

Gibson is a leading liquids Infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of liquids and refined products, as well as waterborne vessel loading. Headquartered in Calgary, Alta., the company's operations are located across North America, with core terminal assets in Hardisty and Edmonton, Alta., Ingleside and Wink, Tex., and a facility in Moose Jaw, Sask. Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange.

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