Mr. Michael Gracher reports

TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES AGREEMENT TO SELL SYLVAN LAKE GAS PROCESSING FACILITY TO PARALLAX ENERGY OPERATING INC.

Tidewater Midstream and Infrastructure Ltd. has entered into a definitive agreement with Parallax Energy Operating Inc. for the sale of its Sylvan Lake gas plant and associated gas gathering infrastructure for total proceeds of approximately $5.5-million, subject to customary adjustments. The Sylvan Lake gas processing facility is a non-core asset of Tidewater, located in central Alberta. The transaction is expected to have an immaterial impact to Tidewater's 2025 operating results and the proceeds received therefrom are anticipated to be used to repay amounts outstanding on the corporation's senior credit facility.

"The disposition of the Sylvan Lake gas processing facility represents yet another milestone for Tidewater as we look to optimize our asset portfolio and improve financial flexibility. In the first half of 2025, Tidewater announced cumulative non-core asset sales of approximately $30-million, at what we believe to be very healthy and attractive valuation ranges. We believe these sales highlight the strength of Tidewater's asset base and look forward to further advancing the remainder of our non-core asset sales program," said Jeremy Baines, chief executive officer of Tidewater.

The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions and certain regulatory approvals, including the receipt of approval from the Alberta Energy Regulator.

About Tidewater Midstream and Infrastructure Ltd.

Tidewater is traded on the Toronto Stock Exchange under the symbol TWM. Tidewater's business objective is to profitably grow and create shareholder value in the North American natural gas, natural gas liquids, crude oil, refined product and renewable energy value chain. Its operations include downstream facilities, natural gas processing facilities, natural gas liquids infrastructure, pipelines, storage and various renewable initiatives. To complement its infrastructure asset base, the corporation also markets crude, refined product, natural gas, natural gas liquids, and renewable products and services to customers across North America. Tidewater is a majority shareholder of Tidewater Renewables. Additional information relating to Tidewater is available on SEDAR+ and Tidewater's website.

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