Company Announcements

CALGARY, AB , March 30, 2026 /CNW/ - Keyera Corp. (TSX: KEY) ("Keyera" or the "Company") today provided an update on the expected timing surrounding its previously announced acquisition of Plains' Canadian natural gas liquids business.

The Transaction continues to advance through the regulatory process, but the transaction is no longer expected to close by around the end of the first quarter of 2026 as previously anticipated. Based on the current status of the regulatory process, Keyera is now working toward closing the transaction in May 2026.

"We remain fully confident that this transaction is in the best interest of industry, Keyera, and Canada. Bringing these assets under Canadian ownership would advance national energy security, strengthen competition, and ensure that value and investment stay in Canada," said Dean Setoguchi, President and Chief Executive Officer of Keyera. "We continue to reaffirm the strategic rationale and expected value creation of this transaction."

The combination of Keyera and Plains' NGL platforms will expand Canadian ownership of critical energy infrastructure, deliver economic and energy security benefits for Canada, and expand market access and service reliability for producers and consumers alike.

Keyera remains committed to updating stakeholders as the regulatory process progresses and will provide further information in due course.

About Keyera Corp.
Keyera Corp. (TSX: KEY) operates an integrated Canadian-based energy infrastructure business with extensive interconnected assets and depth of expertise in delivering energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, transportation, storage, and marketing; isooctane production and sales; and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner.

Additional Information
For more information about Keyera Corp., please visit our website at www.keyera.com or contact:

Dan Cuthbertson, General Manager, Investor Relations
Tyler Monzingo, Senior Specialist Investor Relations

Email: ir@keyera.com
Telephone: 1-403-205-7670
Toll free: 1-888-699-4853

Forward-Looking Information
This press release contains certain statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking information"). Forward-looking information is typically identified by words such as "anticipate", "continue", "expect", "intend", "are", and similar words or expressions, including the negatives or variations thereof. All statements other than statements of historical fact contained in this document are forward-looking information, including, without limitation, statements regarding the anticipated timing for closing the acquisition of Plains' Canadian natural gas liquids business, if required, Keyera's intent to seek approval to extend the outside acquisition closing date from the holders of its senior unsecured notes, hybrid notes and subscription receipts issued to fund the acquisition, and the expected benefits of the transaction.

All forward-looking information reflects Keyera's beliefs and assumptions based on information available at the time the applicable forward-looking information is made and in light of Keyera's current expectations with respect to such things as the outlook for general economic trends, industry trends, commodity prices, the integrity, the reliability of Keyera's assets. All forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, events, levels of activity and achievements to differ materially from those anticipated in the forward-looking information and other risks, uncertainties and other factors, many of which are beyond the control of Keyera. Further information about the factors affecting forward-looking information and management's assumptions and analysis thereof is available in Keyera's Management's Discussion and Analysis for the year ended December 31, 2025 and in Keyera's Annual Information Form available on Keyera's profile on SEDAR+ at www.sedarplus.ca. Management believes that its assumptions and expectations reflected in the forward-looking information contained herein are reasonable based on the information available on the date such information is provided and the process used to prepare the information. However, it cannot assure readers that these expectations will prove to be correct.

Readers are cautioned that the foregoing list of important factors is not exhaustive and they should not unduly rely on the forward-looking information included in this press release. Further, readers are cautioned that the forward-looking information contained herein is made as of the date of this press release. Unless required by law, Keyera does not intend and does not assume any obligation to update any forward-looking information. All forward-looking information contained in this press release is expressly qualified by this cautionary statement.

SOURCE Keyera Corp.

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