S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite Index

TORONTO, Nov. 12, 2025 /CNW/ - The shareholders of Cenovus Energy Inc. (TSX: CVE) and MEG Energy Corp. (TSX: MEG) have agreed to the terms of a Plan of Arrangement resulting in the combination of the two companies. Each share of MEG Energy will be exchanged for $30.00 in cash or 1.255 shares of Cenovus Energy for each MEG Energy share held, subject to proration such that the aggregate consideration paid to MEG Energy consists of 50% cash and 50% consideration in Cenovus Energy shares.

In anticipation of the arrangement closing, MEG Energy will be removed from the S&P/TSX Composite Index prior to the open of trading on November 17, 2025. The shares outstanding of Cenovus Energy will be increased at the same time to reflect the issuance of shares. Accordingly, the new shares outstanding of Cenovus Energy will be increased to 1,958,255,195 with an increased IWF of 0.72 in the S&P/TSX indices.

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