Crius Energy Trust (the "Trust" or "Crius Energy") announced that the Board of Directors of Crius Energy Administrator Inc., the administrator of the Trust (the "Board"), has approved a change in the Trust's distribution schedule from a monthly distribution to a quarterly distribution.

"The change to a quarterly distribution schedule aligns with our strategy to simplify and streamline operations, allows us to better manage our intra-quarter liquidity and brings our distribution payment policy in line with our industry peers as well as the majority of TSX-listed companies that pay dividends regularly," commented Michael Fallquist, Chief Executive Officer of Crius Energy.

In conjunction with the change to a quarterly distribution schedule, the Board also approved a distribution of $0.209 per Unit for the first quarter of 2019.

Under the new quarterly distribution schedule, any future distributions declared by the Board would be for the three-month period ending on March 31, June 30, September 30 or December 31, as applicable. The distribution record date for each quarterly distribution period will be the last Business Day (as defined in the Trust indenture) of the second calendar month following the end of the applicable quarter, with the distribution payment date to be the 15th day of the month following the distribution record date (or if such day is not a Business Day, on the following Business Day).

In accordance with the new quarterly distribution schedule, the distribution record date and distribution payment date for the distribution of $0.209 per Unit for the first quarter of 2019 will be May 31, 2019 and June 17, 2019, respectively.

With the exception of the distribution for the first quarter of 2019, which was approved by the Board on January 14, 2019, the Board expects that any future quarterly distributions will normally be declared on or about the 15th day of the month immediately following the end of the applicable quarterly distribution period.

"We are pleased to maintain our distribution for the first quarter of 2019 at the same level paid to unitholders in the fourth quarter of 2018. We are confident that the strategic changes we've made to our business, which result in a $35 million annual improvement to our earnings, support the sustainability of the distribution going forward," said Fallquist