Gibson Energy Inc. is conducting a bought deal equity offering of 7,591,000 common shares at $26.35 per share, raising gross proceeds of approximately $200 million. After deducting underwriting commissions of approximately $8 million, net proceeds will total approximately $192 million. The offering includes an over-allotment option for up to 569,325 additional common shares, representing 7.5 percent of the base offering, exercisable within 30 days following the closing date at the same price. If exercised in full, total gross proceeds would reach approximately $215 million. The offering is anticipated to close on or about February 17, 2026, or such later date as agreed, but no later than February 24, 2026.

The net proceeds will be used to partially finance the $400 million acquisition of midstream infrastructure assets in the Chauvin area of Alberta, with the remainder funded through Gibson's existing revolving credit facility. The transaction is expected to deliver mid-single digit accretion to distributable cash flow per share while maintaining leverage neutrality. Offering expenses of approximately $750,000 will be paid through a draw on the revolving credit facility.

CIBC World Markets Inc. and Scotia Capital Inc. serve as co-bookrunners, with syndicate members including BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc., TD Securities Inc., ATB Capital Markets Corp., Merrill Lynch Canada Inc., Peters & Co Limited, and Raymond James Ltd. Norton Rose Fulbright Canada LLP acts as legal counsel to Gibson, while Blake, Cassels & Graydon LLP advises the underwriters.