CALGARY, Alberta, Feb. 26, 2026 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced it will exercise its right to redeem its 2.577% Series 1 Preferred Shares (the "Series 1 Preferred Shares") and its 3.948% Series 2 Preferred Shares (the "Series 2 Preferred Shares", collectively, the "Series 1 & 2 Preferred Shares") on March 31, 2026 (the "Redemption"). All of the Series 1 & 2 Preferred Shares outstanding will be redeemed at the price of $25.00 per share, for an aggregate amount payable to holders of $300 million, less required withholdings, if any, funded primarily from cash on hand.

As previously announced, the Company's Board of Directors has declared quarterly dividends of $0.16106 per Series 1 Preferred Share and $0.24337 per Series 2 Preferred Share, each payable on March 31, 2026, to shareholders of record as of March 13, 2026. These will be the final dividends paid on the Series 1 & 2 Preferred Shares.

Inquiries from registered holders of Series 1 & 2 Preferred Shares should be directed to Cenovus's Registrar and Transfer Agent, Computershare Investor Services Inc. at 1-866-332-8898 or (514) 982-8717 outside North America. Beneficial holders, who are not directly registered holders of Series 1 & 2 Preferred Shares, should contact the financial institution, ...