Mr. Dan Cuthbertson reports

KEYERA ANNOUNCES UNPLANNED ALBERTA ENVIROFUELS FACILITY OUTAGE

Keyera Corp. experienced today an extended unplanned outage at its Alberta Envirofuels facility (AEF).

In early January, 2026, Keyera initiated an unplanned outage at AEF to investigate an observed reduction in plant performance. Following the facility shutdown and subsequent inspection, the company identified component failure involving long-life equipment that had been replaced approximately three years ago as part of AEF's continuing maintenance and reliability programs. The company is currently investigating the cause of this early equipment failure.

Due to the expected timing required for the fabrication, delivery and installation of replacement components, the company currently anticipates that AEF will return to service in May, 2026. Throughout this process, Keyera's priority remains the safety of its employees and contractors, and the long-term integrity and reliability of the facility.

The company now plans to complete the previously planned six-week major turnaround, scheduled for fall 2026, during the current outage period, eliminating the need for a separate shutdown later in the year.

2026 financial impacts (stand-alone, pre-Plains acquisition)

• Including the previously planned six-week major turnaround that has been pulled forward into the current outage, the total impact on 2026 marketing segment realized margin is expected to be approximately $110-million;
• Realized margin in the liquids infrastructure segment is expected to be impacted by approximately $15-million;
• Cash taxes are now expected to decrease by approximately $30-million;
• Maintenance capital is expected to increase by approximately $10-million, resulting in a revised 2026 guidance range of $140-million to $160-million, up from the previously expected range of $130-million to $150-million.

In line with established practice, the company will provide its 2026 marketing guidance following the conclusion of the NGL (natural gas liquids) contract season as part of its first quarter 2026 financial results in May.

About Keyera Corp.

Keyera operates an integrated Canadian-based energy infrastructure business with extensive interconnected assets and depth of expertise in delivering energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, transportation, storage and marketing; iso-octane production and sales; and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high-quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely, and in an environmentally and financially responsible manner.

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