PrairieSky Receives TSX Approval for Renewed Normal Course Issuer Bid

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CALGARY, Alberta, June 01, 2026 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX: PSK) is pleased to announce that the Toronto Stock Exchange (the “TSX“) has accepted the notice of PrairieSky’s intention to commence a normal course issuer bid (the “NCIB“).

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On April 20, 2026, PrairieSky announced its intention to seek TSX approval to renew its NCIB for an additional one-year period. The NCIB allows the Company to purchase up to 17,554,375 common shares which represents approximately 7.6% of the common shares outstanding, being 232,442,555 as of May 21, 2026, and 10% of the public float of 175,543,755 common shares which is defined as the common shares outstanding after excluding common shares beneficially owned by directors and executive officers of PrairieSky and persons who beneficially own or exercise control or direction over more than 10% of the issued and outstanding common shares of PrairieSky. The NCIB will commence on June 4, 2026 and will expire no later than June 3, 2027.

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Under the NCIB, common shares may be repurchased in open market transactions on the TSX, and/or other Canadian alternative trading systems. In accordance with the rules of the TSX governing normal course issuer bids, the total number of common shares the Company is permitted to purchase is subject to a daily purchase limit of 123,171 common shares, representing 25% of the average daily trading volume of common shares on the TSX calculated for the six-month period ended April 30, 2026, being approximately 492,686 common shares. However, the Company may make one block purchase per calendar week which exceeds the daily repurchase restriction. Any common shares that are purchased under the NCIB will be cancelled by PrairieSky.

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The Company believes that from time to time the market price of the common shares may not reflect their underlying value. The purchase of common shares will increase the proportion of interest of, and be advantageous to, all remaining shareholders. In addition, any purchases by the Company will afford increased liquidity to those shareholders of the Company who may wish to dispose of their common shares.

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PrairieSky has entered into an automatic share purchase plan with its broker in order to facilitate purchases of its common shares. The automatic purchase plan allows for purchases by the Company of its common shares at any time, including, without limitation, when the Company would ordinarily not be permitted to make purchases due to regulatory restrictions or self-imposed blackout periods. Purchases will be made by PrairieSky’s broker based upon the parameters prescribed by the TSX and the terms of the parties’ written agreement.

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PrairieSky currently intends to purchase up to a maximum of 17,554,375 common shares to effect NCIB purchases over the next 12 months. PrairieSky purchased 3,092,684 common shares on the TSX and other Canadian alternative trading systems under its current normal course issuer bid which authorized the purchase for cancellation of up to 15,355,946 common shares and commenced on June 4, 2025 and runs to June 3, 2026. Since instituting the normal course issuer bid in 2016 to March 31, 2026, PrairieSky has purchased and cancelled an aggregate of 23.2 million common shares at a weighted average price per share of $17.81.