Leverages technology and global capability centres to deliver increased value

Capitalizes on unique competitive advantage provided by access to major shareholder’s technology and global capability centres

Drives long-term revenue growth and productivity of Imperial’s long-life advantaged assets

Committed to meet or beat previously announced production and cost targets

Expected annual expense savings of $150 million

CALGARY, Alberta — Imperial (TSE: IMO, NYSE American: IMO) today announced plans to further improve its industry-leading performance by centralizing additional corporate and technical activities in global business and technology centres, realizing substantial efficiency and effectiveness benefits from scale, integration and technology.

The restructuring is consistent with

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