Gibson Energy Reports 2025 Fourth Quarter and Full Year Results Highlighted by Record Infrastructure EBITDA and Announces 5% Dividend Increase

All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, Feb. 17, 2026 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (TSX:GEI) ("Gibson" or the "Company") announced today its financial and operating results for the three and twelve months ended December 31, 2025. Key Highlights: Delivered record quarterly Infrastructure EBITDA(1) of $160 million, driven by strong volume growth and the completion of key capital projects Announced a 5% dividend increase, the seventh consecutive annual increase Subsequent to the quarter, announced the $400 million strategic acquisition of Teine Energy's portfolio of Chauvin Infrastructure Assets and concurrent $215 million equity financing Executed two major contract extensions of 20 and 10 years at Edmonton, further enhancing the stability and quality of Infrastructure cash flows Completed key capital projects during the quarter, including the Cactus II connection and the start-up of the new Duvernay infrastructure as part of the long-term partnership with Baytex Over 10 million hours worked and counting without a lost-time injury, highlighting our continued focus on maintaining a best-in-class safety performance Expects to deploy approximately $100 million of organic growth capital in 2026 “We delivered strong fourth quarter results, closing out a record year for Gibson in 2025,” said Curtis Philippon, President & Chief Executive Officer. “Year-over-year fourth quarter performance was driven by the Cactus II connection at Gateway, the successful execution of our dredging project, and the start-up of our Baytex partnership in the Duvernay. Subsequent to quarter-end, we announced the strategic and accretive acquisition of Teine's Chauvin Infrastructure Assets, which enhances our Canadian crude infrastructure footprint and creates an additional platform for long-term growth. Together, with the previously announced Wink-to-Gateway Integration project, these initiatives support our targeted 7%+ Infrastructure EBITDA per share growth over the next five years and underpin our ability to continue delivering sustainable shareholder returns.” Financial Highlights: Infrastructure Adjusted EBITDA(1) of $622 million for the full year, including $160 million in the fourth quarter, a $21 million increase over the full year 2024, primarily due to reduced operating costs, contributions from key capital projects coming online, and increased throughput at the Edmonton and Gateway Terminals, partially offset by a weakening U.S. dollar and lower volume at the Hardisty Terminal Marketing Adjusted EBITDA(1) of $15 million for the full year, including $1 million in the fourth quarter, a $48 million decrease over full year 2024, reflecting a challenging environment for both crude marketing and refined products Adjusted EBITDA(1) on a consolidated basis of $581 million for the full year, including $145 million in the fourth quarter, a $29 million decrease over the full year 2024, primarily due to the impact of items affecting segment EBITDA as noted above and a slight increase in general and administrative costs Net income of $198 million for the full year, including $41 million in the fourth quarter, a $45 million increase over the full year 2024, primarily due to the impact of items affecting Adjusted EBITDA(1) as noted above, movement in unrealized gains and losses for corporate financial instruments, partially offset by foreign exchange losses Distributable Cash Flow(1) of $337 million for the full year, including $79 million in the fourth quarter, a $38 million decrease over the full year 2024, primarily due to lower adjusted EBITDA as noted above as well as higher spending on replacement capital in the current year, offset by lower current income taxes and lease payments Dividend payout ratio(2) on a trailing twelve-month basis of 84% Net debt to adjusted EBITDA(2) ratio of 3.9x at December 31, 2025 compared to 3.5x at December 31, 2024 Strategic Developments and Highlights: Subsequent to the quarter, announced the strategic acquisition of Teine Energy’s portfolio of Chauvin Infrastructure Assets for $400 million; the acquisition will extend Gibson’s strategic footprint in Canada and support infrastructure growth; the transaction is expected to deliver mid single-digit accretion to distributable cash flow per share and is anticipated to close in Q2, 2026, subject to regulatory approvals Today, Gibson closed its previously announced $215 million bought deal common equity offering, including the exercise in full of the over-allotment option by the underwriters Subsequent to the quarter, Gibson’s Board of Directors approved a quarterly dividend of $0.45 per common share, an increase of $0.02 per common share or 5%, beginning with the dividend payable in April On December 2, 2025, the Company announced major contract extensions of 20 and 10 years at Edmonton and the sanctioning of a new Wink-to-Gateway Integration project (1)   Adjusted EBITDA and distributable cash flow are non-GAAP financial measures. See the “Specified Financial Measures” section of this release. (2)   Net debt to adjusted EBITDA ratio and dividend payout ratio are non-GAAP financial ratios. See the “Specified Financial Measures” section of this release. Management’s Discussion and Analysis and Financial Statements The 2025 fourth quarter Management’s Discussion and Analysis and audited Consolidated Financial Statements provide a detailed explanation of Gibson’s financial and operating results for the three months and year ended December 31, 2025, as compared to the three months and year ended December 31, 2024. These documents are available at www.gibsonenergy.com and on SEDAR+ at www.sedarplus.ca. Earnings Conference Call & Webcast Details A conference call and webcast will be held to discuss the 2025 fourth quarter and year-end financial and operating results at 7:00am Mountain Time (9:00am Eastern Time) on Wednesday, February 18, 2026. To register for the call, view dial-in numbers, and obtain a dial-in PIN, please access the following URL: https://register-conf.media-server.com/register/BI61ac0ddcb7d143d28a0924288eff6c39  Registration at least five minutes prior to the conference call is recommended. This call will also be broadcast live on the Internet and may be accessed directly at the following URL: https://edge.media-server.com/mmc/p/27ei8kjq/  The webcast will remain accessible for a 12-month period at the above URL. Supplementary Information Gibson has also made available certain supplementary information regarding the 2025 fourth quarter and full year financial and operating results, available at www.gibsonenergy.com. About Gibson Gibson is a leading liquids infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of liquids and refined products, as well as waterborne vessel loading. Headquartered in Calgary, Alberta, the Company's operations are located across North America, with core terminal assets in Hardisty and Edmonton, Alberta, Ingleside and Wink, Texas, and a facility in Moose Jaw, Saskatchewan. Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange. For more information, visit www.gibsonenergy.com. Forward-Looking Statements Certain statements contained in this press release constitute forward-looking information and statements (collectively, “forward-looking statements”). All statements other than statements of historical fact are forward-looking statements. The use of any of the words ‘‘anticipate’’, ‘‘continue’’, ‘‘expect’’, “enhance”, “extend”, ‘‘may’’, ‘‘will’’, and “target” and similar expressions are intended to identify forward-looking statements. Forward-looking statements included or referred to in this press release include, but are not limited to, statements concerning: the anticipated timing and completion of the acquisition of Teine's Chauvin infrastructure assets, and the benefits to be derived therefrom; Gibson’s ability to achieve its financial targets and the anticipated timing thereof; Gibson’s ability to deliver sustainable shareholder returns; and Gibson’s anticipated strategic footprint and expected infrastructure growth. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. The Company does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, the risks and uncertainties described in “Forward-Looking Information” and “Risk Factors” included in the Company's Annual Information Form and Management's Discussion and Analysis, each dated February 17, 2026, as filed on SEDAR+ and available on the Gibson website at www.gibsonenergy.com. For further information, please contact: Investor Relations Phone: (403) 776-3077 Email: [email protected] Media Phone: (403) 476-6334 Email: [email protected] Specified Financial Measures This press release refers to certain financial measures that are not determined in accordance with GAAP, including non-GAAP financial measures and non-GAAP financial ratios. Readers are cautioned that non-GAAP financial measures and non-GAAP financial ratios do not have standardized meanings prescribed by GAAP and, therefore, may not be comparable to similar measures presented by other entities. Management considers these to be important supplemental measures of the Company’s performance and believes these measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in industries with similar capital structures. For further details on these specified financial measures, including relevant reconciliations, see the "Specified Financial Measures" section of the Company’s MD&A for the years endedDecember 31, 2025 and 2024, which is incorporated by reference herein and is available on Gibson's SEDAR+ profile at www.sedarplus.ca and Gibson's website at www.gibsonenergy.com. a)   Adjusted EBITDA Noted below is the reconciliation to the most directly comparable GAAP measures of the Company's segmented and consolidated adjusted EBITDA for the three and twelve months ended December 31, 2025, and 2024: Three months ended December 31, Infrastructure Marketing Corporate and Adjustments Total ($ thousands) 2025 2024 2025 2024 2025 2024 2025 2024                   Segment profit         161,501           127,444         1,819           (16,435 )         —           —           163,320           111,009   Unrealized loss (gain) on derivative financial instruments         (2,563 )         6,359         (1,209 )         11,662           —           —           (3,772 )         18,021   General and administrative         —           —         —           —           (15,370 )         (18,065 )         (15,370 )         (18,065 ) Adjustments to share of profit from equity accounted investees         1,560           1,169         —           —           —           —           1,560           1,169   Executive transition and restructuring costs         —           —         —           —           —           6,304           —           6,304   Environmental remediation provision         —           9,287         —           —           —           —           —           9,287   Post-close purchase price adjustment         —           2,670         —           —           —           —           —           2,670   Renewable power purchase agreement         —           —         —           —           (730 )         (713 )         (730 )         (713 ) Adjusted EBITDA         160,498           146,929         610           (4,773 )         (16,100 )         (12,474 )         145,008           129,682   Years ended December 31, Infrastructure Marketing Corporate and Adjustments Total ($ thousands) 2025 2024 2025 2024 2025 2024 2025 2024                   Segment profit 621,321   574,010 29,150   52,956 —   —   650,471   626,966   Unrealized (gain) loss on derivative financial instruments (4,740 ) 10,105 (14,025 ) 9,778 —   —   (18,765 ) 19,883   General and administrative —   — —   — (56,008 ) (69,985 ) (56,008 ) (69,985 ) Adjustments to share of profit from equity accounted investees 5,456   5,240 —   — —   —   5,456   5,240   Executive transition and restructuring costs —   — —   — 2,405   16,969   2,405   16,969   Environmental remediation provision —   9,287 —   — —   —   —   9,287   Post-close purchase price adjustment —   2,670 —   — —   —   —   2,670   Renewable power purchase agreement —   — —   — (2,872 ) (888 ) (2,872 ) (888 ) Adjusted EBITDA 622,037   601,312 15,125   62,734 (56,475 ) (53,904 ) 580,687   610,142     Three months ended December 31, ($ thousands) 2025   2024         Net Income (Loss) 41,292   (5,563 )       Income tax expense 10,198   7,575   Depreciation, amortization, and impairment charges 46,685   55,217   Finance costs, net 36,038   34,033   Unrealized (gain) loss on financial instruments (3,772 ) 18,021   Unrealized loss (gain) on power purchase agreement 3,894   (4,375 ) Share-based compensation 6,002   6,882   Adjustments to share of profit from equity accounted investees 1,560   1,169   Corporate foreign exchange loss (gain) and other 3,111   (1,538 ) Environmental remediation provision —   9,287   Post-close purchase price adjustment —   2,670   Executive transition and restructuring costs —   6,304   Adjusted EBITDA 145,008   129,682     Years ended December 31, ($ thousands) 2025   2024         Net Income 197,638   152,174         Income tax expense 56,778   53,780   Depreciation, amortization, and impairment charges 175,608   186,669   Finance costs, net 139,367   138,318   Unrealized (gain) loss on derivative financial instruments (18,765 ) 19,883   Unrealized (gain) loss on renewable power purchase agreement (5,286 ) 2,332   Share-based compensation 17,828   22,040   Acquisition and integration costs —   1,371   Adjustments to share of profit from equity accounted investees 5,456   5,240   Corporate foreign exchange loss (gain) and other 9,658   (591 ) Environmental remediation provision —   9,287   Post-close purchase price adjustment —   2,670   Executive transition and restructuring costs 2,405   16,969   Adjusted EBITDA 580,687   610,142     b)   Distributable Cash Flow The following is a reconciliation of distributable cash flow from operations to its most directly comparable GAAP measure, cash flow from operating activities:   Three months ended December 31, Years ended December 31, ($ thousands) 2025   2024   2025   2024             Cash flow from operating activities         93,355           67,276           510,159           598,454   Adjustments:         Changes in non-cash working capital and taxes paid         45,406           53,978           52,932           (10,642 ) Replacement capital         (14,514 )         (11,727 )         (47,840 )         (35,987 ) Cash interest expense, including capitalized interest         (34,331 )         (31,931 )         (131,672 )         (134,336 ) Acquisition and integration costs         —           —           —           1,371   Executive transition and restructuring costs         —           6,304           2,405           16,969   Lease payments         (7,170 )         (6,063 )         (25,618 )         (30,241 ) Current income tax         (3,250 )         (6,685 )         (23,266 )         (30,318 ) Distributable cash flow         79,496           71,152           337,100           375,270     c)   Dividend Payout Ratio Years ended December 31,   2025   2024   Distributable cash flow 337,100   375,270   Dividends declared 281,696   266,858   Dividend payout ratio 84 % 71 %   d)   Net Debt To Adjusted EBITDA Ratio   Years ended December 31,   2025   2024         Current and long-term debt 2,702,342   2,598,635   Lease liabilities 79,064   48,180   Less: unsecured hybrid notes (450,000 ) (450,000 ) Less: cash and cash equivalents (55,846 ) (57,069 )       Net debt 2,275,560   2,139,746   Adjusted EBITDA 580,687   610,142   Net debt to adjusted EBITDA ratio 3.9   3.5