Topaz acquires Montney royalty assets for $71.7 MM – Acquisition Summary

Acquisition Announcement

• Company: Topaz Energy Corp. (TSX: TPZ)

• Transaction: Entered into definitive agreements with Tourmaline Oil Corp.

• Details:

  • Acquiring gross overriding royalty interests on ~134,000 gross acres in NEBC Montney.

  • Over 65% of the land is undeveloped.

  • Includes ~410 future tier-one Montney drilling locations with multi-zone upside.

  • Aligns Topaz with Tourmaline’s long-term Montney growth strategy.

• Purchase Price: $71.7 million (cash, before adjustments).

• Funding: Through existing credit facilities.

Financial Updates

• Q3 2025 Results Release: November 3, 2025.

• Earnings Call: November 4, 2025 at 9:00 a.m. MST (11:00 a.m. EST).

About Topaz

• Focus: Royalty and infrastructure energy company.

• Strategy:

  • Generate free cash flow growth.

  • Deliver reliable, sustainable dividends.

  • Strong partnership with Tourmaline, Canada’s largest natural gas producer.

  • Pursues acquisitions from other high-quality energy companies.

• Listing: Common shares trade on the TSX under TPZ.

• Index: Included in the S&P/TSX Composite Index.