Cenovus Energy acquires additional MEG Energy common shares

Executive Summary

• Cenovus Energy Inc. acquired an additional 3,276,460 common shares of MEG Energy Corp., bringing its total beneficial ownership to 25,000,000 shares (≈9.8% of MEG’s outstanding share count).
• The acquisition is part of the previously announced transaction between Cenovus and MEG; Cenovus intends to vote the newly‑acquired shares in favour of that deal.
• Cenovus may adjust its ownership level in MEG over time, subject to market conditions and securities law requirements.

Key Details

• Shares Acquired: 3,276,460 MEG common shares purchased on TSX or other Canadian alternative exchanges/markets.
• Total Ownership Post‑Acquisition: 25,000,000 MEG common shares (≈9.8% of 254,378,035 total outstanding shares).
• Purpose: Acquisition furthers Cenovus’s previously announced transaction with MEG; the company plans to vote the shares in favour of that transaction.
• Future Flexibility: Cenovus may increase or decrease its beneficial ownership in MEG based on market conditions and applicable securities laws.
• Forward‑Looking Statements: The release contains forward‑looking information regarding voting intentions, future ownership levels, and potential adjustments to the stake.

Notable Quotes

(No direct quotes from executives were included in the release.)