Mr. Dean Setoguchi reports

KEYERA PROVIDES UPDATE ON TIMING OF ACQUISITION OF PLAINS' CANADIAN NGL BUSINESS

Keyera Corp. today provided an update on the expected timing surrounding its previously announced acquisition of Plains' Canadian natural gas liquids business.

The transaction continues to advance through the regulatory process, but the transaction is no longer expected to close by around the end of the first quarter of 2026 as previously anticipated. Based on the current status of the regulatory process, Keyera is now working toward closing the transaction in May, 2026.

"We remain fully confident that this transaction is in the best interest of industry, Keyera, and Canada. Bringing these assets under Canadian ownership would advance national energy security, strengthen competition, and ensure that value and investment stay in Canada," said Dean Setoguchi, president and chief executive officer of Keyera. "We continue to reaffirm the strategic rationale and expected value creation of this transaction."

The combination of Keyera and Plains' NGL (natural gas liquid) platforms will expand Canadian ownership of critical energy infrastructure, deliver economic and energy security benefits for Canada, and expand market access and service reliability for producers and consumers alike.

Keyera remains committed to updating stakeholders as the regulatory process progresses and will provide further information in due course.

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; isooctane 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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