X0202 SCHEDULE 13G 0001283718 XXXXXXXX LIVE Common Stock 03/31/2026 0000893538 SM Energy Co 78454L100 1700 Lincoln Street Suite 3200 Denver CO 80203 Rule 13d-1(b) CPPIB Crestone Peak Resources Canada Inc. Z4 0 14493791 0 14493791 14493791 N 6.1 FI Item 11 is calculated based on a total of 238,359,166 shares of common stock of SM Energy Co. (the "Issuer") outstanding as of February 2, 2026, as disclosed in the Issuer's Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2026. Canada Pension Plan Investment Board Z4 0 14493791 0 14493791 14493791 N 6.1 FI Item 11 is calculated based on a total of 238,359,166 shares of common stock of the Issuer outstanding as of February 2, 2026, as disclosed in the Issuer's Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2026. SM Energy Co 1700 Lincoln Street, Suite 3200, Denver, Colorado 80203 Each of the following is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." This statement is filed on behalf of: Canada Pension Plan Investment Board CPPIB Crestone Peak Resources Canada Inc. The principal business office address for each of the Reporting Persons is as follows: One Queen Street East Suite 2500 Toronto, Ontario M5C 2W5 Canada Each of the Reporting Persons is organized under the laws of Canada. N FI Pension investment manager subject to the Canada Pension Plan Investment Board Act. The information contained on the cover pages to this Schedule 13G is incorporated by reference into this Item 4. The ownership information presented herein represents beneficial ownership of Common Stock as of the date of this filing, based upon 238,359,166 shares of common stock of the Issuer outstanding as of February 2, 2026, as disclosed in the Issuer's Annual Report on Form 10-K. The securities reported herein are directly held by CPPIB Crestone Peak Resources Canada Inc., a wholly owned subsidiary of Canada Pension Plan Investment Board. As such, the Reporting Persons may be deemed to have shared voting power and dispositive power with respect to such securities. The information contained on the cover pages to this Schedule 13G is incorporated by reference into this Item 4. See Item 5 on the cover pages. See Item 6 on the cover pages. See Item 7 on the cover pages. See Item 8 on the cover pages. Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. By signing below I certify that, to the best of my knowledge and belief, the Canadian regulatory scheme applicable to a pension investment manager subject to the Canada Pension Plan Investment Board Act is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D. 99.1 Power of Attorney of Canada Pension Plan Investment Board 99.2 Joint Filing Agreement CPPIB Crestone Peak Resources Canada Inc. /s/ Brian Savage 05/15/2026 Canada Pension Plan Investment Board /s/ Pierre Abinakle 05/15/2026 See Exhibit 99.1 Power of Attorney of Canada Pension Plan Investment Board.