Imperial announces primary results of its substantial issuer shot

Imperial Oil Limited( TSE IMO, NYSE American IMO) blazoned moment the primary results of its substantial issuer shot( the “ Offer ”), pursuant to which Imperial offered to buy for cancellation up to$1.5 billion of its common shares( the “ Shares ”). The Offer progressed by way of a modified Dutch transaction, which had a tender price range from$78.50 per Share to$94.00 per Share, and included the option for shareholders to share via a commensurate tender. The Offer expired at 500p.m.( Calgary time) on December 8, 2023. All quantities are in Canadian bones

In agreement with the terms and conditions of the Offer and grounded on the primary computation of Computershare Investor ServicesInc., as depositary for the Offer( the “ Depositary ”), Imperial expects to take up and pay for Shares at a price of$78.50 per Share under the Offer( the “ Purchase Price ”), representing an aggregate purchase of roughly$1.5 billion and3.4 percent of the total number of Imperial’s issued and outstanding Shares as of the close of business on October 30, 2023. incontinently following completion of the Offer, Imperial anticipates that Shares will be issued and outstanding.

Shares were validly proffered and not withdrawn pursuant to transaction tenders at or below the Purchase Price and pursuant to buy price tenders. Since the Offer was oversubscribed, shareholders who made transaction tenders at or below the Purchase Price and shareholders who made, or were supposed to have made, purchase price tenders will have the number of Shares bought prorated following the determination of the final results of the Offer( other than “ odd lot ” tenders, which aren’t subject to proration). Imperial presently expects that shareholders who made transaction tenders at or below the Purchase Price and shareholders who made, or were supposed to have made, purchase price tenders will have roughly 20 percent of their proffered Shares bought by Imperial. Shareholders who made transaction tenders at a price in excess of the Purchase Price shouldn’t anticipate to have any of their Shares bought by Imperial. Shares are anticipated to be taken up and bought pursuant to commensurate tenders.

Exxon Mobil Corporation, Imperial’s maturity shareholder, made a commensurate tender under the Offer and will maintain its commensurate Share power at roughly69.6 percent following completion of the Offer.

The number of Shares to be bought, the proration factor and the Purchase Price appertained to over are primary, remain subject to verification by the Depositary and assume that all Shares proffered through notice of guaranteed delivery will be delivered within the two trading- day agreement period. Upon take- up and payment of the Shares bought, Imperial will issue a press release telling the final results, including the final proration factor, the final Purchase Price, the estimated paid- up capital per Share and the “ specified quantum ” for purposes of the Income Tax Act( Canada).

instantly after similar press release, payment for the Shares accepted for purchase will be made in agreement with the terms of the Offer and applicable law, and the Depositary will return all other Shares proffered and not bought.

The full details of the Offer are described in the offer to buy and issuer shot indirect dated November 3, 2023, as well as the affiliated letter of transmittal and notice of guaranteed delivery, clones of which were filed and are available on SEDAR and on EDGAR

This news release is for instructional purposes only and doesn’t constitute an offer to buy or the supplication of an offer to vend Shares.

Imperial is one of Canada’s largest intertwined oil painting companies. It’s active in all phases of the petroleum assiduity in Canada, including the disquisition for, and product and trade of, crude oil painting and natural gas. In Canada, it’s a major patron of crude oil painting, the largest petroleum muck and a leading marketer of petroleum products. It’s also a major patron of petrochemicals. The company’s operations are conducted in three main parts Upstream, Downstream and Chemical.

After further than a century, Imperial continues to be an assiduity leader in applying technology and invention to responsibly develop Canada’s energy coffers. As Canada’s largest petroleum muck, a major patron of crude oil painting, a crucial petrochemical patron and a commanding energies marketer from seacoast to seacoast, our company remains married to high norms across all areas of our business.

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exemplary statement Statements of unborn events or conditions in this release, including protrusions, prospects and estimates are forward- looking statements. Forward- looking statements can be linked by words similar as believe, anticipate, intend, propose, plan, anticipate, unborn, continue, probably, may, should, will and analogous references to unborn ages. Forward- looking statements in this release include, but aren’t limited to, references to the number of Shares, the Purchase Price and the aggregate quantum Imperial expects to pay on take up and payment of proffered Shares in connection with the Offer; the number of Shares issued and outstanding following completion of the Offer; the anticipated proration due to oversubscription; prospects for shareholders who have made transaction tenders at a price in excess of the Purchase Price; the number of Shares to be taken up and paid for pursuant to commensurate tenders; ExxonMobil’s awaited effects following completion of the Offer; farther communication regarding completion of the Offer; the payment for Shares in agreement with the Offer; and the return of Shares not bought.

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