Cenovus Energy Inc.

Priced offering of senior notes, part of the plan to fund the acquisition of assets in Western Canada from ConocoPhillips. Notes will be issued in three series: US$1.2 billion of 4.25% notes due 2027, US$700 million of 5.25% notes due 2037, and US$1 billion of 5.40% notes due 2047. Acquisition includes ConocoPhillips' 50% interest in the FCCL Partnership, the companies' jointly owned oil sands venture operated by Cenovus, and most of ConocoPhillips' Deep Basin assets in Alberta and British Columbia. Acquisition is scheduled to close in second-quarter 2017, and Cenovus will use the net proceeds to pay a portion of the cash consideration. When the offer closes, the net proceeds will be placed in escrow alongside interest.