ROCKPOINT GAS STORAGE INC. ANNOUNCES C$427 MILLION SECONDARY BOUGHT DEAL OFFERING

ROCKPOINT GAS STORAGE INC. ANNOUNCES C$427 MILLION SECONDARY BOUGHT DEAL OFFERING

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

THE BASE SHELF PROSPECTUS IS ACCESSIBLE, AND THE PROSPECTUS SUPPLEMENT FOR THE OFFERING AND ANY AMENDMENT TO THE DOCUMENTS WILL BE ACCESSIBLE, WITHIN
TWO BUSINESS DAYS, THROUGH SEDAR+

CALGARY, AB, Feb. 17, 2026 /CNW/ - Rockpoint Gas Storage Inc. ("Rockpoint" or the "Company") announced today that Rockpoint and BIF II CalGas Carry (Delaware) LLC, BIP BIF II U.S. Holdings (Delaware) LLC, Swan Equity Carry LP and BIP BIF II Swan AIV LP (collectively, the "Selling Shareholders"), which are affiliates of Brookfield Asset Management Private Institutional Capital Adviser (Canada), L.P. ("Brookfield"), have entered into an agreement with a syndicate of underwriters (the "Underwriters") led by RBC Capital Markets and J.P. Morgan, as joint lead bookrunners, to complete a secondary offering on a bought deal basis (the "Offering") of class "A" common shares of the Company (the "Class A Shares"). Under the agreement, the Underwriters have agreed to purchase 15,260,000 Class A Shares from the Selling Shareholders at a purchase price of C$28.00 per Class A Share for total gross proceeds of approximately C$427 million.

The Selling Shareholders have granted the Underwriters an option (the "Over-Allotment Option"), exercisable, in whole or in part, at any time until and including the date that is 30 days following the closing of the Offering, to purchase up to an additional 1,140,000 Class A Shares at the offering price to cover over-allotments, if any, and for market stabilization purposes. The net proceeds of the Offering will be paid directly to the Selling Shareholders. The Company will not receive any proceeds from the Offering.

The Class A Shares will be offered by way of a prospectus supplement to the final short form base shelf prospectus of the Company dated December 31, 2025 in all of the provinces and territories of Canada and may also be offered by way of private placement in the United States and internationally as permitted in accordance with applicable securities laws.

The Offering enables Rockpoint to expand its market float and trading liquidity, with affiliates of Brookfield retaining majority ownership (on a diluted basis), reflecting strong conviction in the Company's outlook. Following completion of the Offering, affiliates of Brookfield will beneficially own 1,140,000 of the 53,200,000 outstanding Class A Shares (reduced to no Class A Shares if the Over-Allotment Option is exercised in full) and will continue to own all of the Company's 79,800,000 outstanding class "B" voting shares, comprising approximately 61% of the votes attached to the 133,000,000 total outstanding shares of the Company (60% if the Over-Allotment Option is exercised in full).

The Offering is expected to close on or about February 23, 2026, subject to customary closing conditions.

The Class A Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States or to a U.S. person (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to certain exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Class A Shares in the United States, nor shall there be any sale of the Class A Shares in any state or other jurisdiction in the United States to any person or entity to which it is unlawful to make such offer, sale or solicitation in such state or jurisdiction.

Access to the prospectus supplement, the corresponding base shelf prospectus and any amendments to the documents is provided in accordance with applicable securities legislation relating to procedures for providing access to such documents. The base shelf prospectus is, and the prospectus supplement will be within two business days of the date hereof accessible under the Company's profile on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the prospectus supplement, the corresponding base shelf prospectus and any amendment to the documents may be obtained, without charge, from any of the following by providing any of them with an email address or address, as applicable, from: RBC Dominion Securities Inc. by mail at Attention: Distribution Centre, RBC Wellington Square, 8th Floor, 180 Wellington Street West, Toronto, Ontario, Canada, M5J 0C2 and by e-mail at distribution.rbcds@rbccm.com; or J.P. Morgan Securities Canada Inc. by mail at Attention: Equity Sales Desk, Suite 4500, TD Bank Tower, 66 Wellington Street West, Toronto, Ontario, Canada, M5K 1E7.

About Rockpoint Gas Storage

Rockpoint Gas Storage is the largest independent pure play operator of natural gas storage facilities in North America. Rockpoint Gas Storage owns and operates six strategically located natural gas storage facilities with a combined effective working gas storage capacity of approximately 280 Bcf that is critical for ensuring the reliable and stable supply of natural gas in its service areas. The Company believes that the assets are uniquely positioned to capture the benefits associated with growing natural gas demand, particularly from LNG, gas-fired power generation to support data centre growth, oil sands and electrification broadly. Rockpoint Gas Storage's business strategy is to optimize its storage platform to capitalize on these demand trends and offer its customers unique and highly customizable natural gas storage solutions which are critical to their operations.

Proudly headquartered in Calgary, Alberta, Rockpoint Gas Storage's asset portfolio has a 38-year operating history and is managed by an industry leading and highly experienced management team.

Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable securities laws ("forward-looking information"). Forward-looking information includes statements regarding possible events, conditions, performance or results that are based on Rockpoint's current expectations, estimates and assumptions regarding future events or circumstances. Forward-looking information is often identified by words such as "may", "will", "would", "should", "could", "expects", "plans", "intends", "trends", "indicates", "anticipates", "believes", "estimates", "predicts", "likely", "potential" or similar expressions suggesting future events or circumstances. In particular, forward-looking information in this press release includes, among other things, information relating to the Offering, including the closing and the timing thereof and the filing of the prospectus supplement in connection therewith.

Forward-looking information is based on various factors and assumptions made by the Company which Rockpoint believes are reasonable as of the date hereof based on information currently available. However, no assurances can be provided that such factors and assumptions will prove to be correct and forward-looking information should not be unduly relied upon or read as a guarantee of future events, conditions, performance or results. Forward-looking information involves a number of known and unknown risks, uncertainties and other factors, many of which are beyond Rockpoint's control, that may cause actual events, conditions, performance or results to differ materially from that expressed or implied by such forward-looking information. Such assumptions, risks and other factors include those identified in the base shelf prospectus and prospectus supplement, including under the headings "Risk Factors" therein.

The forward-looking information contained in this press release represents the Company's expectations as of the date hereof and, except as required by applicable securities laws, Rockpoint undertakes no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise. All forward-looking information in this press release is expressly qualified in its entirety by this cautionary statement.

SOURCE Rockpoint Gas Storage Inc.