Company Announcements

CALGARY, AB , Jan. 31, 2025 /CNW/ - Strathcona Resources Ltd. ("Strathcona" or the "Company") (TSX: SCR) today announced that Waterous Energy Fund Co-investment (Canadian) LP and Waterous Energy Fund Co-investment (International) LP (together, the "WEF Funds"), two of the limited partnerships comprising Waterous Energy Fund ("WEF"), have completed a share pass-through transaction resulting in the disposition of 24,010,576 common shares of Strathcona, representing approximately 11.2% of the issued and outstanding common shares of Strathcona, by the WEF Funds to their limited partners (the "Transaction").

Following completion of the Transaction, the ownership of the issued and outstanding common shares of Strathcona by limited partnerships comprising WEF collectively decreased from approximately 90.8% to approximately 79.6%, resulting in public float of over 20%.

The Transaction was comprised of a series of reorganizational steps and the number of issued and outstanding shares of Strathcona remains the same following completion of the Transaction. The Transaction did not require shareholder approval.

The common shares distributed pursuant to the Transaction may be subject to applicable Canadian and U.S. securities law resale restrictions.

About Strathcona

Strathcona is one of North America's fastest growing oil and gas producers with operations focused on thermal oil, enhanced oil recovery and liquids-rich natural gas. Strathcona is built on an innovative approach to growth achieved through the consolidation and development of long-life oil and gas assets. Strathcona's common shares (symbol SCR) are listed on the Toronto Stock Exchange (TSX).

For more information about Strathcona, visit www.strathconaresources.com.

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SOURCE Strathcona Resources Ltd.