Mergers & Acquisitions:

• ACT Energy Technologies Ltd. (TSX:ACX) announced the US$24.2MM asset acquisition of Conroe, TX based Stryker Energy Directional Services LLC, a provider of directional drilling services across the southern U.S. The acquisition of Stryker, which relies on rented third-party mud motors for ~50% of its jobs, will strengthen ACT’s U.S. platform and enhance its drilling technologies. The purchase price consists of US$12.5MM cash, US$5MM equity, and US$6.7MM promissory note structured over three years at 6% interest per annum.

• Fort St. John, BC based Stimulate Energy Services Inc., a provider of well stimulation, optimization, water management and chemical services, announced the merger with Green Energy Services’ fluid treatment division. The merger strengthens the combined entity’s service offerings across Western Canada under the Stimulate banner.

• E&P: Trio Petroleum Canada announced the acquisition of select heavy oil assets in west-central Saskatchewan from NovaCor Exploration. The acquisition consists of producing heavy oil wells, related equipment and infrastructure, and additional development and optimization opportunities.

Other:

• Tidewater Midstream and Infrastructure Ltd. (TSX:TWM) announced long-term agreements for gas handling and NGL supply and fractionation at the Brazeau River Complex in central Alberta. Tidewater will process up to 75MMcf/d of natural gas while receiving marketing rights to the ethane, propane and butane derived from such processing.

• According to Statistics Canada, Canada recorded a $583MM deficit in October 2025 compared to a $243MM surplus recorded in September. Exports to the U.S. represented 67% of all exports, the lowest non-pandemic level since 1997. Exports increased by 2.1% led by stronger demand for gold, silver, and platinum group metals. Excluding this product group, total exports fell 2.5%. Imports increased by 3.4%, led by electronic and electrical equipment parts.

• According to Statistics Canada, the Canadian unemployment rate rose from 6.5% in November to 6.8% in December. Despite the economy adding 8,200 jobs, the number of people seeking employment increased to drive unemployment higher. Average hourly wages increased by 3.4% year over year in December.