PrairieSky Receives TSX Approval for Renewed Normal Course Issuer Bid

Executive Summary

• PrairieSky Royalty Ltd. has received Toronto Stock Exchange (TSX) approval to renew its Normal Course Issuer Bid (NCIB) for a one-year period, authorizing the repurchase of up to 17,554,375 common shares.
• The bid will run from June 4, 2026, to June 3, 2027, with a daily purchase limit of 123,171 shares and provisions for one weekly block purchase exceeding that limit.
• All repurchased shares will be cancelled, and the company has implemented an automatic share purchase plan with its broker to facilitate transactions, including during regulatory blackout periods.

Key Details

• Maximum Repurchase Authorization: Up to 17,554,375 common shares (~7.6% of outstanding shares, 10% of public float)
• Outstanding Shares (as of May 21, 2026): 232,442,555 common shares
• Public Float: 175,543,755 common shares (excluding shares held by directors, executive officers, and >10% beneficial owners)
• NCIB Period: June 4, 2026, to June 3, 2027
• Daily Purchase Limit: 123,171 common shares (25% of the 6-month average daily trading volume ending April 30, 2026)
• Block Purchase Provision: One purchase per calendar week permitted to exceed the daily limit
• Execution Venues: Open market transactions on the TSX and/or other Canadian alternative trading systems
• Share Treatment: All purchased shares will be cancelled by PrairieSky
• Automatic Purchase Plan: Broker-managed plan allows purchases at any time, including during regulatory restrictions or self-imposed blackout periods, per TSX rules and broker agreement terms
• Current NCIB Activity (June 4, 2025 – June 3, 2026): Authorized up to 15,355,946 shares; 3,092,684 shares purchased to date
• Cumulative Historical Purchases (2016 – March 31, 2026): 23.2 million common shares purchased and cancelled at a weighted average price of $17.81 per share