An anonymous director reports

ROCKPOINT GAS STORAGE INC. RECEIVES TSX APPROVAL FOR NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted Rockpoint Gas Storage Inc.'s notice of intention to commence a normal course issuer bid (NCIB) in respect of its Class A common shares through the facilities of the Toronto Stock Exchange and/or other alternative trading systems in Canada.

The NCIB will commence on March 27, 2026, and will terminate on the earlier of March 26, 2027, the date on which Rockpoint has purchased the maximum number of Class A shares permitted under the NCIB or the date on which Rockpoint terminates the NCIB in accordance with its terms.

The NCIB allows Rockpoint to repurchase Class A shares in line with its broader capital allocation strategy, which prioritizes maintaining a strong balance sheet, investing in the business to sustainably grow its distributable cash flow and dividends, and returning additional capital to shareholders. Rockpoint believes that, from time to time, the Class A shares may trade in price ranges that do not fully reflect their value. In such circumstances, Rockpoint believes that acquiring Class A shares may represent an attractive and desirable use of funds.

Under the NCIB, Rockpoint may, over a 12-month period commencing on March 27, 2026, purchase in the normal course through the facilities of the TSX and/or other Canadian alternative trading systems, if eligible, up to 5,316,025 Class A shares, such amount representing 10 per cent of the public float (as defined by the TSX) of the Class A shares as at March 23, 2026. Rockpoint had 53.2 million Class A shares issued and outstanding on March 23, 2026.

Subject to certain exemptions for block purchases, the maximum number of Class A shares that Rockpoint may acquire on any one trading day is 53,277 Class A shares, such amount representing 25 per cent of the average daily trading volume of the Class A shares for all of the completed calendar months since the Class A shares were listed on the TSX. All Class A shares purchased by Rockpoint under the NCIB will be cancelled.

Rockpoint may enter into an automatic share purchase plan (ASPP) with its broker in relation to the NCIB to facilitate purchases of Class A shares thereunder at times when Rockpoint would not normally be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Pursuant to any such ASPP, outside of such blackout periods, when Rockpoint is not in possession of material non-public information about itself or its securities, Rockpoint would be entitled to direct its broker to make purchases of Class A shares under the NCIB during a future trading blackout period. Any such purchases will be based on trading parameters established by Rockpoint at the time of giving such direction in accordance with the rules of the TSX, applicable securities laws and the terms of the ASPP.

Throughout the term of the NCIB, Rockpoint and the other parties to the exchange agreement dated Oct. 7, 2025, will undertake certain transactions to maintain the required one-to-one ratios between: (a) the number of outstanding Class A shares and the interests in Swan Equity Aggregator LP and BIF II CalGas (Delaware) LLC (collectively, the OpCos) owned by the company; and (b) the number of Class B voting shares of the company owned by Brookfield Infrastructure Holdings (Canada) Inc. and the interests in the OpCos owned by Brookfield. As a result, purchases of Class A shares under the NCIB will not impact Rockpoint's 40-per-cent ownership interest in the OpCos.

About Rockpoint Gas Storage Inc.

Rockpoint Gas Storage is the largest independent pure-play operator of natural gas storage facilities in North America. Rockpoint Gas Storage owns and operates six strategically located natural gas storage facilities with a combined effective working gas storage capacity of approximately 280 billion cubic feet that is critical for ensuring the reliable and stable supply of natural gas in its service areas. The company believes that the assets are uniquely positioned to capture the benefits associated with growing natural gas demand, particularly from LNG (liquefied natural gas), gas-fired power generation to support data centre growth, oil sands and electrification broadly. Rockpoint Gas Storage's business strategy is to optimize its storage platform to capitalize on these demand trends and offer its customers unique and highly customizable natural gas storage solutions that are critical to their operations.

Proudly headquartered in Calgary, Alta., Rockpoint Gas Storage's asset portfolio has a 38-year operating history, and is managed by an industry leading and highly experienced management team.

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