Mr. Dan Cuthbertson reports

KEYERA ANNOUNCES $525 MILLION BOUGHT-DEAL OFFERING OF COMMON SHARES

Keyera Corp. has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets and TD Securities Inc., as joint bookrunners under which the underwriters have agreed to purchase, on a bought deal basis, 9,804,000 common shares of the company at a price of $53.55 per common share for aggregate gross proceeds of approximately $525-million.

The net proceeds from the offering will be used to partially repay indebtedness drawn under a short-term credit facility used to finance the acquisition by Keyera of a non-operated 50-per-cent interest in the KAPS pipeline from Stonepeak Partners LP, resulting in Keyera owning the entire interest in KAPS, the details of which were announced today in a separate news release issued by Keyera.

The company has granted the underwriters an overallotment option, exercisable in whole or in part at any time and from time to time for a period of 30 days following the closing of the offering, to purchase up to an additional 1,470,600 common shares on the same terms and conditions as the offering.

The offering is expected to close on or about June 22, 2026, subject to certain conditions, including receipt of all regulatory approvals, including approval of the Toronto Stock Exchange.

The common shares will be offered to prospective purchasers in all provinces of Canada by way of a prospectus supplement to the base shelf prospectus of the company dated Dec. 22, 2025. The common shares may also be offered in the United States by way of private placement to qualified institutional buyers in reliance upon the exemption from registration provided by Rule 144A under the U.S. Securities Act of 1933 and internationally pursuant to applicable private placement exemptions.

Access to the prospectus supplement, the base shelf prospectus and any amendments to the documents is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The base shelf prospectus is, and the prospectus supplement will be (within two business days of the date hereof), accessible on SEDAR+. The common shares are offered under the prospectus supplement. An electronic or paper copy of the prospectus supplement, the base shelf prospectus and any amendment to the documents may be obtained, without charge, from RBC Capital Markets, attention: distribution centre, RBC Wellington Square, eighth floor, 180 Wellington St. West, Toronto, Ont., M5J 0C2, or by e-mail at distribution.rbcds@rbccm.com by providing the contact with an e-mail address or address, as applicable. The base shelf prospectus and prospectus supplement contain important, detailed information about the company and the offering. Prospective investors should read the base shelf prospectus and prospectus supplement (when filed) before making an investment decision.

About Keyera Corp.

Keyera 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; iso-octane 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.

We seek Safe Harbor.