Mr. Dan Cuthbertson reports

KEYERA ANNOUNCES CLOSING OF $1.0 BILLION SENIOR NOTES AND $604 MILLION BOUGHT-DEAL EQUITY OFFERINGS AND EXERCISE OF OVER-ALLOTMENT OPTION

Keyera Corp. has completed its previously announced offering of $1.0-billion aggregate principal amount of senior unsecured notes and bought deal public offering of approximately $604-million of common shares of the company.

Pursuant to the equity offering, the company issued 11,274,600 common shares, including 1,470,600 common shares issued pursuant to the exercise in full by the underwriters of their overallotment option. The common shares were issued at a price of $53.55 per common share.

The common shares were offered through a syndicate of underwriters, led by RBC Capital Markets and TD Securities, as joint bookrunners. The notes were offered on a private placement basis, in reliance upon exemptions from the prospectus requirements in each of the provinces of Canada, through a syndicate of dealers co-led by RBC Capital Markets and CIBC Capital Markets.

The net proceeds from the equity offering and some of the net proceeds from the note offering will be used to repay indebtedness drawn under a short-term credit facility used to finance Keyera's acquisition of a non-operated 50-per-cent interest in the KAPS pipeline from Stonepeak Partners LP, which resulted in Keyera owning the entire interest in KAPS, the details of which were announced by Keyera on June 17, 2026. The balance of the net proceeds from the note offering is expected to be used to finance the redemption or repayment of Keyera Partnership's outstanding 3.96 per cent senior unsecured notes due October, 2026, prior to or at their maturity date.

For further information regarding the acquisition and the equity offering, including related risk factors, refer to the company's prospectus supplement dated June 18, 2026, to the base shelf prospectus of the company dated Dec. 22, 2025. The base shelf and the prospectus supplement are accessible on SEDAR+.

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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