An anonymous director reports

STRATHCONA RESOURCES LTD. RECEIVES TSX APPROVAL FOR NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted Strathcona Resources Ltd.'s notice to commence a normal course issuer bid (NCIB) to purchase outstanding common shares representing up to 5 per cent of its issued and outstanding common shares.

Under the NCIB, purchases of common shares may be made through the facilities of the TSX, other designated exchanges and/or alternative Canadian trading systems, or as otherwise may be permitted under applicable securities laws or by the Alberta Securities Commission or any applicable Canadian securities administrator. The actual number of common shares that may be purchased under the NCIB and the timing of any such purchases will be determined by Strathcona. Strathcona believes that, from time to time, the market price of its common shares does not reflect the underlying value of its business and the purchase of its common shares for cancellation represents an attractive opportunity to enhance long-term shareholder returns. As of March 5, 2026, Strathcona has 214,235,608 common shares outstanding and, therefore, is permitted to purchase up to 10,711,780 of its outstanding common shares pursuant to the NCIB. Common shares purchased under the NCIB will be cancelled.

The NCIB will be effected in accordance with the TSX normal course issuer bid rules, which contain restrictions on the number of common shares that may be purchased on a single day, subject to certain exceptions for block purchases, based on the average daily trading volumes of Strathcona's common shares on the applicable exchange. Subject to exceptions for block purchases, Strathcona will limit daily purchases of common shares on the TSX in connection with the NCIB to no more than 25 per cent (40,615 common shares) of the average daily trading volume of the common shares on the TSX for the six-month period from Sept. 1, 2025, to Feb. 28, 2026 (162,460 common shares), during any trading day. Purchases under the NCIB will be made through open-market purchases at market price as well as by other means as may be permitted under applicable securities laws. Purchases of common shares may commence on March 17, 2026, and will expire on the earlier of March 16, 2027, the date on which the company has acquired the maximum number of common shares allowable under the NCIB or otherwise decides not to make any further purchases under the NCIB.

Strathcona has entered into an automatic purchase plan with a broker which will enable Strathcona to provide standard instructions and purchase common shares on the open market during self-imposed blackout periods. Outside of these blackout periods, common shares may be purchased in accordance with management's discretion.

A copy of Strathcona's notice filed with the TSX may be obtained by any shareholder, without charge, by contacting Strathcona at info@strathconaresources.com.

About Strathcona Resources Ltd.

Strathcona is one of North America's fastest-growing pure play heavy oil producers with operations focused on thermal oil and enhanced oil recovery. Strathcona is built on an innovative approach to growth achieved through the consolidation and development of long-life assets. Strathcona's common shares (symbol: SCR) are listed on the TSX.

We seek Safe Harbor.