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Imperial provides update on unconventional portfolio

CALGARY, Alberta--(BUSINESS WIRE)--Following annual review of its company business and strategic plan, Imperial (TSE: IMO, NYSE American: IMO) has re-assessed the long-term development plans of its unconventional portfolio in Alberta, Canada and no longer plans to develop a significant portion of this portfolio. The decision not to develop these assets will result in a non-cash, after-tax charge of approximately $0.9 billion to $1.2 billion in the company’s fourth quarter 2020 results.