^{All financial figures are in Canadian dollars unless otherwise noted}

CALGARY, Alberta, July 27, 2026 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (TSX:GEI) ("Gibson" or the "Company") announced today its financial and operating results for the three and six months ended June 30, 2026.

Key Highlights:

Delivered record Infrastructure adjusted EBITDA⁽¹⁾ of $169 million, driven by higher throughput, improved utilization and continued optimization across the growing asset network
Generated Marketing adjusted EBITDA⁽¹⁾ of $15 million, reflecting disciplined execution, strong refined product margins and the benefits of investments made to diversify Gibson’s product mix
Completed the $400 million Chauvin acquisition and advanced the Chauvin expansion project, reinforcing Gibson’s long-term Infrastructure growth strategy
Issued $400 million of 4.45% senior unsecured notes due 2034, achieving the tightest credit spread across any tenor in Gibson’s history and further strengthening financial flexibility
Surpassed one full year without a recordable injury across employees and contractors, reflecting Gibson’s strong safety culture and commitment to operational excellence

“Gibson delivered a strong second quarter, highlighted by record Infrastructure adjusted EBITDA,” said Curtis Philippon, President & Chief Executive Officer. “During the quarter, we closed the Chauvin acquisition and sanctioned the Hardisty Connection Project – important milestones in advancing our long-term Infrastructure growth strategy. Our results reflect the strength of both our Infrastructure and Marketing segments and our team's disciplined execution. Recent progress on market access and pipeline developments has created a more constructive environment for Canadian energy infrastructure. Gibson is uniquely situated to support our customers as these opportunities develop, reinforcing our confidence in our long-term growth strategy and our ability to continue creating long-term shareholder value.”

Financial Highlights:

Infrastructure adjusted EBITDA⁽¹⁾ of $169 million in the second quarter, a $17 million increase from the second quarter of 2025, primarily driven by higher throughput at the Gateway and Edmonton terminals, as well as the Chauvin Infrastructure Assets, along with benefits from the Company’s restructuring efforts
Marketing adjusted EBITDA⁽¹⁾ of $15 million in the second quarter, an $8 million increase from the second quarter of 2025, primarily driven by improved margins resulting from higher crack spreads and the diversification in product mix positively impacting Refined Products
Adjusted EBITDA⁽¹⁾ on a consolidated basis of $169 million in the second quarter, a $22 million increase from the second quarter of 2025, primarily due to the factors impacting segment adjusted EBITDA as noted above and the impact of removing unrealized gains and losses on financial instruments recorded in both periods
Net income of $83 million in the second quarter, a $22 million increase from the second quarter of 2025, primarily due to the factors affecting segment adjusted EBITDA as noted above and lower income tax expense, partially offset by higher general and administrative costs, acquisition and integration costs from the Chauvin Infrastructure Assets, and unrealized gains and losses in relation to corporate financial instruments
Distributable Cash Flow⁽¹⁾ of $96 million in the second quarter, a $15 million increase from the second quarter of 2025, primarily due to the factors contributing to higher adjusted EBITDA as noted above, partially offset by higher finance costs and higher current income tax expense
Dividend payout ratio⁽²⁾ of 88% and net debt to adjusted EBITDA⁽²⁾ ratio of 4.2x on a trailing twelve-month basis; each of which are expected to remain temporarily elevated until a full 12 months of contribution from the Chauvin acquisition is reflected

Strategic Developments and Highlights:

In July, the Board declared a quarterly dividend of $0.45 per common share, payable on October 16, 2026, to shareholders of record at the close of business on September 29, 2026
In July, Morningstar DBRS and S&P reaffirmed Gibson’s Investment Grade credit ratings of BBB(low), Stable Outlook and BBB-, Stable Outlook, respectively, reinforcing the strength of the Company’s financial position
In July, Gibson refinanced amounts drawn under its revolving credit facility with $400 million of 4.45% senior unsecured notes due January 9, 2034, further strengthening its financial flexibility
In June, the Company amended and extended its revolving credit facility, extending the maturity to June 2031
In May, Gibson closed the previously announced acquisition of the Chauvin Infrastructure Assets and concurrently sanctioned the Hardisty Connection growth project

^{(1) Adjusted EBITDA and distributable cash flow are non-GAAP financial measures. See the “Specified Financial Measures” section of this release.}
^{(2) Net debt to adjusted EBITDA ratio and dividend payout ratio are non-GAAP financial ratios. See the “Specified Financial Measures” section of this release.}

Management’s Discussion and Analysis and Financial Statements
The 2026 second quarter Management’s Discussion and Analysis and unaudited Condensed Consolidated Financial Statements provide a detailed explanation of Gibson’s financial and operating results for the three months and six months ended June 30, 2026, as compared to the three months and six months ended June 30, 2025. These documents are available at www.gibsonenergy.com and on SEDAR+ at www.sedarplus.ca.

Earnings Conference Call & Webcast Details
A conference call and webcast will be held to discuss the 2026 second quarter financial and operating results at 7:00am Mountain Time (9:00am Eastern Time) on Tuesday, July 28, 2026.

To register for the call, view dial-in numbers, and obtain a dial-in PIN, please access the following URL:
https://register-conf.media-server.com/register/BI8e44afc655804e42ba4a73ec0fdf8556

Registration at least five minutes prior to the conference call is recommended.

This call will also be broadcast live on the Internet and may be accessed directly at the following URL:
https://edge.media-server.com/mmc/p/bpzb7e3m

The webcast will remain accessible for a 12-month period at the above URL.

Supplementary Information

Gibson has also made available certain supplementary information regarding the 2026 second quarter financial and operating results, available at www.gibsonenergy.com.

About Gibson
Gibson is a leading liquids infrastructure company providing storage, optimization, processing, gathering, and waterborne vessel loading services for liquids and refined products. Headquartered in Calgary, Alberta, the Company's operations are located across North America, with core terminal assets in Hardisty and Edmonton, Alberta, Ingleside and Wink, Texas, and a facility in Moose Jaw, Saskatchewan.

Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange. For more information, visit www.gibsonenergy.com.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information and statements (collectively, “forward-looking statements”). All statements other than statements of historical fact are forward-looking statements. The use of any of the words “anticipate”, ‘‘continue’’, ‘‘expect’’, ‘‘will’’ and similar expressions are intended to identify forward-looking statements. Forward-looking statements included or referred to in this press release include, but are not limited to, statements concerning: the development, construction, completion and expected benefits of the Hardisty Connection and Chauvin expansion projects; Gibson’s long-term growth strategy and ability to create long-term shareholder value; Gibson's ability to support customers as market access and pipeline developments progress; expectations regarding the Company’s dividend payout ratio and net debt to adjusted EBITDA metrics, including their temporary elevation and the expected reduction; the expected timing and payment of the quarterly dividend; and the expected benefits of the Company’s senior notes issuance, including financial flexibility. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. The Company does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, the risks and uncertainties described in “Forward-Looking Information” and “Risk Factors” included in the Company's Annual Information Form dated February 17, 2026, and Management's Discussion and Analysis dated July 27, 2026, as filed on SEDAR+ and available on the Gibson website at www.gibsonenergy.com.

For further information, please contact:

Investor Relations
Phone: (403) 776-3077
Email: investor.relations@gibsonenergy.com

Media
Phone: (403) 476-6334
Email: communications@gibsonenergy.com

Specified Financial Measures

This press release refers to certain financial measures that are not determined in accordance with GAAP, including non-GAAP financial measures and non-GAAP financial ratios. Readers are cautioned that non-GAAP financial measures and non-GAAP financial ratios do not have standardized meanings prescribed by GAAP and, therefore, may not be comparable to similar measures presented by other entities. Management considers these to be important supplemental measures of the Company’s performance and believes these measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in industries with similar capital structures.

For further details on these specified financial measures, including relevant reconciliations, see the "Specified Financial Measures" section of the Company’s MD&A for the three and six months ended June 30, 2026 and 2025, which is incorporated by reference herein and is available on Gibson's SEDAR+ profile at www.sedarplus.ca and Gibson's website at www.gibsonenergy.com.

a) Adjusted EBITDA

Noted below is the reconciliation to the most directly comparable GAAP measures of the Company's segmented and consolidated adjusted EBITDA for the three and six months ended June 30, 2026, and 2025:

Three months ended June 30,	Infrastructure		Marketing		Corporate and Adjustments		Total
($ thousands)	2026	2025	2026	2025	2026	2025	2026	2025

Segment profit	163,965	156,640	49,470	9,068	—	—	213,435	165,708
Unrealized loss (gain) on derivative financial instruments	3,783	(5,225)	(34,304)	(1,409)	—	—	(30,521)	(6,634)
General and administrative	—	—	—	—	(15,931)	(13,017)	(15,931)	(13,017)
Adjustments to share of profit from equity accounted investee	1,562	1,174	—	—	—	—	1,562	1,174
Executive transition costs	—	—	—	—	—	—	—	—
Renewable power purchase agreement	—	—	—	—	(23)	(816)	(23)	(816)
Adjusted EBITDA	169,310	152,589	15,166	7,659	(15,954)	(13,833)	168,522	146,415

Six months ended June 30,	Infrastructure		Marketing		Corporate and Adjustments		Total
($ thousands)	2026	2025	2026	2025	2026	2025	2026	2025

Segment profit	316,882	310,719	16,646	22,928	—	—	333,528	333,647
Unrealized loss (gain) on derivative financial instruments	5,379	(5,680)	1,238	(15,155)	—	—	6,617	(20,835)
General and administrative	—	—	—	—	(34,672)	(27,340)	(34,672)	(27,340)
Adjustments to share of profit from equity accounted investee	3,122	2,347	—	—	—	—	3,122	2,347
Executive transition costs	—	—	—	—	—	2,405	—	2,405
Renewable power purchase agreement		—	—	—	(1,018)	(1,622)	(1,018)	(1,622)
Adjusted EBITDA	325,383	307,386	17,884	7,773	(35,690)	(26,557)	307,577	288,602

	Three months ended June 30,
($ thousands)	2026	2025

Net Income	82,889	60,699

Income tax expense	23,841	20,097
Depreciation, amortization, and impairment charges	47,129	42,993
Finance costs, net	38,132	34,577
Unrealized gain on derivative financial instruments	(30,521)	(6,634)
Unrealized gain on power purchase agreement	(3,738)	(14,531)
Share-based compensation	5,610	4,594
Acquisition and integration costs	5,192	—
Adjustments to share of profit from equity accounted investee	1,562	1,174
Corporate foreign exchange (gain) loss and other	(1,574)	3,446
Adjusted EBITDA	168,522	146,415

	Six months ended June 30,
($ thousands)	2026	2025

Net Income	81,531	110,652

Income tax expense	24,943	34,141
Depreciation, amortization, and impairment charges	96,955	85,525
Finance costs, net	73,946	68,235
Unrealized loss (gain) on derivative financial instruments	6,617	(20,835)
Unrealized gain on renewable power purchase agreement	(95)	(7,744)
Share-based compensation	9,096	7,722
Restructuring costs	8,125	—
Acquisition and integration costs	5,192	—
Adjustments to share of profit from equity accounted investee	3,122	2,347
Corporate foreign exchange (gain) loss and other	(1,855)	6,154
Executive transition costs	—	2,405
Adjusted EBITDA	307,577	288,602

b) Distributable Cash Flow

The following is a reconciliation of distributable cash flow from operations to its most directly comparable GAAP measure, cash flow from operating activities:

	Three months ended June 30,		Six months ended June 30,
($ thousands)	2026	2025	2026	2025

Cash flow from operating activities	187,492	99,380	217,183	221,232
Adjustments:
Changes in non-cash working capital and taxes paid	(30,972)	42,935	67,242	58,352
Replacement capital	(13,225)	(14,655)	(22,819)	(20,463)
Cash interest expense, including capitalized interest	(36,088)	(32,379)	(69,588)	(63,928)
Acquisition and integration costs	5,192	—	5,192	—
Restructuring costs ⁽¹⁾	2,000	—	6,125	—
Executive transition costs ⁽¹⁾	—	—	—	2,405
Lease payments	(6,381)	(6,778)	(13,109)	(13,095)
Current income tax	(11,936)	(7,223)	(20,242)	(12,449)
Distributable cash flow	96,082	81,280	169,984	172,054

Twelve months ended June 30,
($ thousands)	2026	2025

Cash flow from operating activities	506,110	693,302
Adjustments:
Changes in non-cash working capital and taxes paid	61,822	(145,934)
Replacement capital	(50,196)	(45,213)
Cash interest expense, including capitalized interest	(137,332)	(129,904)
Acquisition and integration costs ⁽¹⁾	5,192	—
Restructuring costs ⁽¹⁾	6,125	—
Executive transition costs ⁽¹⁾	—	16,142
Lease payments	(25,632)	(27,302)
Current income tax	(31,059)	(29,716)
Distributable cash flow	335,030	331,375

^{(1) Costs adjusted on an incurred basis.}

c) Dividend Payout Ratio

Twelve months ended June 30,
($ thousands)	2026	2025
Distributable cash flow	335,030	331,375
Dividends declared	296,142	274,372
Dividend payout ratio	88%	83%

d) Net Debt to Adjusted EBITDA Ratio

	Twelve months ended June 30,
($ thousands)	2026	2025

Current and long-term debt	2,933,502	2,704,585
Lease liabilities	90,863	55,120
Less: unsecured hybrid notes	(450,000)	(450,000)
Less: cash and cash equivalents	(39,972)	(41,570)

Net debt	2,534,393	2,268,135
Adjusted EBITDA	599,662	569,448
Net debt to adjusted EBITDA ratio	4.2	4.0

Infrastructure segment adjusted EBITDA	640,034	604,199
Less:
General and administrative	(63,340)	(58,409)
Executive transition costs	—	16,142
Renewable power purchase agreement	(2,268)	(2,510)
	574,426	617,454
Infrastructure leverage	4.4	4.1

Gibson Energy Reports Second Quarter 2026 Results, Highlighted by Record Infrastructure Adjusted EBITDA and Strategic Growth Execution