Mr. Riley Hicks reports

GIBSON ENERGY ANNOUNCES CLOSING OF $400 MILLION CHAUVIN INFRASTRUCTURE ACQUISITION TO EXTEND HARDISTY PLATFORM AND SANCTIONING OF HARDISTY CONNECTION PROJECT

Gibson Energy Inc. has closed its previously announced acquisition of Teine Energy Ltd.'s Chauvin infrastructure assets. Through the transaction, Gibson has acquired a crude oil gathering pipeline system and associated infrastructure connecting Chauvin to the Hardisty oil hub, extending the company's strategic footprint at Hardisty and reinforcing the stable, contracted nature of its cash flows.

"Today marks a significant milestone for Gibson as we complete this strategic acquisition, strengthening our position and ability to deliver services to customers in and around our core Hardisty terminal," said Riley Hicks, senior vice-president and chief financial officer. "Our focus now turns to integration and maintaining the safe, reliable service our customers expect. We are advancing key growth initiatives that support delivery on our investor day targets and create long-term value for shareholders while maintaining a disciplined approach to capital allocation."

The acquisition of the Chauvin infrastructure assets is underpinned by long-term take-or-pay and area-of-dedication agreements with Teine Energy. Concurrent with closing, Gibson has sanctioned the Hardisty Connection growth project which will directly connect the Chauvin infrastructure assets to the company's core terminal and enhance connectivity for customers. By the end of 2026, Gibson expects to sanction the Chauvin pipeline expansion project to increase effective capacity from 30,000 bbl/d (barrels per day) to an expected 45,000 bbl/d.

The $400-million purchase price for the transaction was financed through a combination of net proceeds from Gibson's previously completed $215-million bought deal equity offering and drawings under its existing credit facility.

Gibson received a no-action letter from the Canadian Competition Bureau on April 30, 2026, confirming that the commissioner of competition does not intend to make an application under Section 92 of the Competition Act (Canada) in respect of the transaction.

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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