Cenovus Energy Postpones MEG Energy Shareholder Meeting

Cenovus Energy Inc. announced the postponement of the special meeting of MEG Energy Corp. shareholders to vote on the proposed acquisition of MEG by Cenovus. The meeting, originally scheduled for October 22, 2025, has been rescheduled to October 30, 2025, with the proxy submission deadline extended to October 29, 2025. As of the postponement, approximately 63% of MEG shares represented by proxy or expected to be voted in person were in favor of the transaction. The transaction requires approval from at least 66⅔% of MEG shares represented at the meeting. Cenovus reiterated that the terms of the transaction, which include a 44% premium to MEG’s unaffected 20-day volume-weighted average share price as of May 15, 2025, represent its best and final offer. MEG shareholders have the option to elect cash or Cenovus shares, subject to certain conditions. Cenovus encourages all MEG shareholders to vote in favor of the transaction.