CALGARY, ALBERTA–(Marketwired – May 23, 2017) – Canadian Natural Resources Limited (TSX:CNQ)(NYSE:CNQ) (“Canadian Natural” or the “Company”) announces that on May 23, 2017, it priced the following medium term notes to be sold to investors in Canada:
| Note / Coupon | Principal | Maturity | Price per Note | Yield to Maturity |
| 3 year / 2.05% | $900,000,000 | June 1st, 2020 | C$99.977 | 2.058% |
| 9.5 year / 3.42% | $600,000,000 | December 1st, 2026 | C$100.00 | 3.420% |
| 30 year / 4.85% | $300,000,000 | May 30th, 2047 | C$100.00 | 4.850% |
TD Securities Inc., RBC Dominion Securities Inc., and Scotia Capital Inc. acted as joint lead agents and joint book-runners for the offering of the medium-term notes. BMO Nesbitt Burns Inc., and CIBC World Markets Inc., acted as joint lead agents and AltaCorp Capital Inc. and Desjardins Securities Inc. acted as co-agents for the offering of the medium-term notes.
Canadian Natural intends to apply the net proceeds from the sale of the medium-term notes to partially finance the previously announced acquisition of working interest in the Athabasca Oil Sands Project and to pay certain fees and expenses related to the acquisition.
The sale of the medium-term notes was issued under the Company’s Canadian base shelf prospectus dated October 30, 2015.