Keyera Provides Update on Regulatory Process for Acquisition of Plains' Canadian NGL Business

Keyera Provides Update on Regulatory Process for Acquisition of Plains' Canadian NGL Business

CALGARY, AB, May 5, 2026 /CNW/ - Keyera Corp. (TSX: KEY) ("Keyera" or the "Company") today provided an update on the regulatory process related to its previously announced acquisition of substantially all of Plains' Canadian natural gas liquids ("NGL") business (the "Transaction").

Keyera has received a filing from the Competition Bureau in connection with the Transaction and is currently reviewing the materials.

• Shortly before the opening of markets, Keyera received a filing from the Competition Bureau and is preparing a more detailed communication, which is expected to be provided later today.
• This regulatory proceeding does not prevent the company's ability to close the Transaction.
• The Company disagrees with the Commissioner's assertions and characterization of the Transaction, and intends to respond to the application. As the Company has previously advised, the Transaction will strengthen competition across the basin and provide customers with improved access to key markets and greater flexibility in how their products are handled, transported and sold.

About Keyera Corp.

Keyera Corp. (TSX: KEY) operates an integrated Canadian-based energy infrastructure business with extensive interconnected assets and depth of expertise in delivering energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, transportation, storage, and marketing; isooctane production and sales; and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner.

Additional Information

For more information about Keyera Corp., please visit our website at www.keyera.com or contact:

Dan Cuthbertson, General Manager, Investor Relations
Tyler Monzingo, Senior Specialist Investor Relations

Email: ir@keyera.com
Telephone: 1-403-205-7670
Toll free: 1-888-699-4853

SOURCE Keyera Corp.