Mergers & Acquisitions:

• Saint John, NB based Petro Service announced the acquisition of Calgary based MI Petro Group, a gas station service company providing technical field and maintenance services to the retail fuel industry. The acquisition is aimed at strengthening Petro Service’s Western Canadian presence and to enhance its nationwide fueling solutions. MI Petro Group consists of two offices in Calgary and Maple Ridge with 23 personnel, as well as serves as a Gilbarco distributor.

• Gibson Energy Inc. (TSX:GEI) announced the $400MM cash acquisition of Calgary based Teine Energy Ltd.’s Chauvin infrastructure assets. The acquisition consists of a crude oil pipeline and associated infrastructure assets connecting Chauvin to the Hardisty oil hub. The transaction has an implied EBITDA multiple of 7.5x based on 2026E adjusted EBITDA.

• Coquitlam, BC based Hoskin Group announced the acquisition of Calgary based Westech Industrial, a provider of industrial instrumentation and integrated process solutions. Westech provides analytical instruments, flame and gas detection systems, and custom-engineered technologies to the oil and gas, petrochemical, F&B, pharmaceutical and municipal markets from its five locations nationwide. The acquisition complements Hoskin’s Avensys and CTH operations.

Financing:

• The Alberta government is investing $28MM via the Technology, Innovation and Emissions Reduction (TIER) fund, to advance technology to reduce carbon emissions and improve the energy sector’s environmental performance. The funding will be allocated to six projects varying from $625,000 to $12MM each, including to the likes of CNERGREEN Corp., Total Containment Inc., and Tourmaline Oil Corp. (TSX:TOU).

Other:

• E&P: Advantage Energy Ltd. concluded its strategic review process, indicating none of the proposals received or alternatives evaluated were in the best interests of the Corporation and its shareholders.

• According to the International Energy Agency (IEA), global oil supply is now forecasted to increase by 2.4MM bpd in 2026 to 108.6MM bpd. This follows a ~3.1MM bpd increase in 2025. The IEA forecasts global oil demand to grow by 930,000 bpd in 2026.

• According to Stats Canada, January inflation was 2.3 per cent year-over-year (2.4 per cent increase in Dec. 2025).

Financial Results: