February 17, 2026
SaskWorks Venture Fund Inc. Provides Update on Steel Reef Investment
Regina, Saskatchewan, February 17, 2026 – SaskWorks Venture Fund Inc. (“SaskWorks” or the “Fund”) is providing an update regarding its previously disclosed plans to facilitate an orderly disposition of SaskWorks’ minority investment (the “Steel Reef Interest”) in Steel Reef Infrastructure Corp. (“Steel Reef”). Following constructive engagement with applicable regulators, SaskWorks has received a short administrative accommodation to evaluate an alternative path that could achieve the objectives of an orderly disposition by SaskWorks of the Steel Reef Interest without the complexity and cost of the previously proposed restructuring (the “Proposed Steel Reef Transaction”) between SaskWorks and SRIC Holdings Inc. (“Newco”). The Proposed Steel Reef Transaction and its rationale are described in more detail in the management proxy circular of SaskWorks dated November 7, 2025 and in the preliminary prospectus of Newco dated January 23, 2026, both available on SEDAR+ at www.sedarplus.ca. SaskWorks





