Articles from Waterous Energy Fund Management Corp.

Waterous Energy Fund Management Corp. (the "WEF Manager"), in its capacity as manager of Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund III (US) LP, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP and Waterous Energy Fund III (International FI) LP (collectively, the "WEF Receiptholders") and as manager of certain other limited partnerships, including but not limited to, Waterous Energy Fund (Canadian) LP, Waterous Energy Fund (US) LP, Waterous Energy Fund (International) LP and Waterous Energy Fund II Aggregator LP (together with the WEF Receiptholders and certain other entities managed by the WEF Manager, the "WEF Funds"), today announced that on June 27, 2025 the WEF Receiptholders have purchased 21,400,000 subscription receipts (the "Subscription Receipt") of Strathcona Resources Ltd. (TSX: SCR) (the "Issuer"), at a price of $30.92 per Subscription Receipt, for an aggregate purchase price of $661,688,000.00 (the "Investment"). Immediately prior to the completion of the Investment, the WEF Funds collectively owned an aggregate of 170,536,718 common shares of the Issuer (the "Common Shares"), representing approximately 79.6% of the issued and outstanding Common Shares. Following the completion of the Investment, the WEF Funds collectively own an aggregate of 170,536,718 Common Shares, representing approximately 79.6% of the issued and outstanding Common Shares, and 21,400,000 Subscription Receipts, representing all of the issued and outstanding Subscription Receipts.

Waterous Energy Fund Management Corp. (the "WEF Manager"), in its capacity as manager of certain limited partnerships, including but not limited to, Waterous Energy Fund (Canadian) LP, Waterous Energy Fund (US) LP, Waterous Energy Fund (International) LP, Waterous Energy Fund II Aggregator LP, Waterous Energy Fund Co-Investment (Canadian) LP and Waterous Energy Fund Co-Investment (International) LP (together with certain other entities managed by the WEF Manager, the "WEF Funds"), today announced that Waterous Energy Fund Co-Investment (Canadian) LP and Waterous Energy Fund Co-Investment (International) LP have completed a series of reorganizational steps as part of a share pass-through transaction, resulting in the disposition of 24,010,576 common shares ("Common Shares") of Strathcona Resources Ltd. (the "Company"), representing approximately 11.2% of the issued and outstanding Common Shares of the Company, to their limited partners, and were subsequently dissolved and wound up (the "Transaction"). Immediately before the Transaction, the WEF Funds collectively owned an aggregate of 194,547,294 Common Shares, representing approximately 90.8% of the issued and outstanding Common Shares of the Company. Following completion of the Transaction, the remaining WEF Funds collectively own an aggregate of 170,536,718 Common Shares, representing approximately 79.6% of the issued and outstanding Common Shares of the Company.