An anonymous director reports

ARC RESOURCES LTD. ANNOUNCES RECEIPT OF INVESTMENT CANADA ACT APPROVAL

The government of Canada has approved the previously announced plan of arrangement involving ARC Resources Ltd., Shell PLC and Shell Canada Ltd., in accordance with the terms of the Investment Canada Act.

As previously announced on July 14, 2026, additional key regulatory approvals have been obtained that are conditions to closing of the arrangement. To date, approvals under the Competition Act, the Canada Transportation Act and the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (United States) have been obtained, and the Alberta Securities Commission has also granted exemptive relief to Shell from applicable requirements in connection with Shell's share buyback programs on the United Kingdom and Netherlands markets, each of which approvals and exemptive relief are conditions to closing the arrangement.

The arrangement was approved by holders of common shares of ARC on July 14, 2026, and the Court of King's Bench of Alberta granted the final order approving the arrangement on July 15, 2026.

The arrangement is expected to close on or about Sept. 2, 2026, subject to the satisfaction or waiver of customary closing conditions.

About ARC Resources Ltd.

ARC Resources is a pure-play Montney producer and one of Canada's largest dividend-paying energy companies, featuring low-cost operations. ARC's investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business. ARC's common shares trade on the Toronto Stock Exchange under the symbol ARX.

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