Keyera completes acquisition of core Fort Saskatchewan facilities

CALGARY, AB – Keyera Corp. (TSX: KEY) (“Keyera” or the “Corporation”) today confirms the closing of the previously announced acquisition of a 21% working interest in the Keyera Fort Saskatchewan (“KFS”) complex from Plains Midstream Canada, bringing its total ownership in KFS to 98%. Total cash consideration including adjustments was $366.5 million.

The transaction offers many benefits to Keyera including:

Meaningful synergies with Keyera’s integrated platform
Accretive to Distributable Cash Flow per share¹
Increased fractionation capacity in a high-demand market, while eliminating new-build project execution risk in an inflationary environment
Additional capital efficient growth options including the potential for future fractionation debottlenecks

The acquisition includes capacity additions of about 14,000 barrels per day of fractionation, 6,000 barrels per day of de-ethanization, 3.7 million barrels of storage and 79,200 barrels per day of capacity in four pipelines that transport NGLs between Edmonton and Fort Saskatchewan.

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; iso-octane 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.

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