Canadian natural resources limited announces closing of aosp swap transaction and updated 2025 guidance

Calgary, alberta--(newsfile corp. - november 3, 2025) - canadian natural resources limited (tsx: cnq) (nyse: cnq) ("canadian natural" or the "company") announces it has closed the asset swap with shell canada limited and affiliates ("shell") related to the athabasca oil sands project ("aosp"), whereby canadian natural swapped 10% of its working interest in the scotford upgrader and quest carbon capture and storage ("quest") facilities for shell's remaining 10% working interest in the albian oil sands mines, associated reserves and additional various working interests in a number of other non-producing oil sands leases. canadian natural now owns and operates 100% of the albian mines and retains a non-operated 80% interest in the scotford upgrader and quest facilities.
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