Mr. Marty Staples reports

TOPAZ ENERGY CORP. CLOSES PREVIOUSLY ANNOUNCED CLEARWATER ROYALTY ACQUISITION AND PUBLISHES ANNUAL SUSTAINABILITY REPORT

Topaz Energy Corp. has completed the acquisition of a newly created 5-per-cent gross overriding royalty interest on Deltastream Energy Corp.'s entire Clearwater acreage in Alberta, for total cash consideration of $265.3-million, before customary closing adjustments.

Topaz has published its 2021 sustainability report which outlines the company's sustainable investment strategy that is focused on developing partnerships with responsible operators and leveraging technical expertise to invest in top-quartile, long-life, prolific plays supported by inflation-protected, commodity-resilient revenue streams. The report provides Topaz's comprehensive performance metrics, including zero scope 1 and 2 emissions, that were developed in alignment with the GHG Protocol, the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) and the World Economic Forum (WEF). Furthermore, Topaz's ESG (environmental, social, governance) reporting was enhanced through the adoption of the recommended disclosures of the Task Force on Climate-Related Financial Disclosures (TCFD) and third party verification of certain performance data. The report is available on the company's website.

Additional information

Additional information about Topaz is available on SEDAR under the company's profile and on Topaz's website.

About Topaz Energy Corp.

Topaz is a unique royalty and infrastructure energy company focused on generating free cash flow (FCF) growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada's largest and most active natural gas producer, Tourmaline Oil Corp., an investment-grade senior Canadian E&P (exploration and production) company, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance best practices. Topaz focuses on top-quartile energy resources and assets best positioned to attract capital in order to generate sustainable long-term growth and profitability.

The Topaz royalty and energy infrastructure revenue streams are generated primarily from assets operated by natural gas producers with some of the lowest greenhouse gas emissions intensity in the Canadian senior upstream sector, including Tourmaline, which has received awards for environmental sustainability and conservation efforts. Certain of these producers have set long-term emissions reduction targets and continue to invest in technology to improve environmental sustainability.

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