Topaz to acquire Montney royalty assets from Tourmaline

Mr. Marty Staples reports TOPAZ ANNOUNCES TUCK-IN ACQUISITION OF NEBC MONTNEY ROYALTY ASSETS Topaz Energy Corp. has entered into definitive agreements with Tourmaline Oil Corp. to acquire gross overriding royalty interests on approximately 134,000 gross acres, over 65 per cent undeveloped, in its NEBC (northeastern British Columbia) Montney core royalty area for total cash consideration of $71.7-million, before customary closing adjustments. The acquisition lands feature approximately 410 primarily Tier 1 future Montney drilling locations (1), multizone upside optionality and provides Topaz full alignment to each of Tourmaline's future growth projects under its multiyear NEBC Montney buildout plan. The acquisition will be financed using the company's existing credit facilities. Third quarter 2025 results Topaz is scheduled to release its third quarter 2025 financial results on Nov. 3, 2025. Topaz will host the third quarter conference call on Nov. 4, 2025, at 9 a.m. MST (11 a.m. EST). 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 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, 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. Topaz focuses on top-quartile energy resources and assets best positioned to attract capital in order to generate sustainable long-term growth and profitability. Topaz's common shares are listed and posted for trading on the Toronto Stock Exchange under the trading symbol TPZ, and the company is included in the S&P/TSX Composite Index. This is the headline index for Canada and is the principal benchmark measure for the Canadian equity markets, represented by the largest companies on the TSX. (1) Source: Tourmaline's May 7, 2025, news release -- based on Tourmaline's internally estimated total identified gross future drilling locations. We seek Safe Harbor.