Cenovus Energy announces redemption of Series 7 Preferred Shares

CALGARY, Alberta, June 02, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (“Cenovus” or the “Company”) (TSX: CVE) (NYSE: CVE) announced today it will exercise its right to redeem the Company’s 3.935% Series 7 Preferred Shares (the “Series 7 Preferred Shares”) on June 30, 2025 (the “Redemption”). All 6 million Series 7 Preferred Shares outstanding will be redeemed at the price of $25.00 per share, for an aggregate amount payable to holders of $150 million, less required withholdings, if any, funded primarily from cash on hand.

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