The loan will enable CIFI to expand access to financing for private sector infrastructure projects in Official Development Assistance eligible countries across Latin America and the Caribbean. This transaction will help address the approximate USD 2 billion investment gap across energy, water and sanitation, transportation, and telecommunications required to meet the Sustainable Development Goals by 2030, of which 59% is required for new infrastructure. As a result, mobilizing private capital becomes critical in advancing sustainable economic growth.

Latin America and the Caribbean plays a critical role in the clean energy transition. The region demonstrates abundant renewable energy potential and plays a strategic role in supporting global supply chains, which are critical to decarbonization. Additionally, the region is severely vulnerable to climate change through intensified and frequent weather events such as floods, droughts, and hurricanes. In response, CIFI is committed to addressing increased events through its growing renewable energy portfolio, which includes solar energy and solar-plus-battery energy system storage projects. In line with the region’s sustainable development priorities, 70% of the loan proceeds will support climate projects, particularly climate mitigation activities.

Gender‑inclusive organizations demonstrate enhanced innovation, employee retention, and ability to solve complex challenges associated with the energy transition. As a result, CIFI is committed to strengthening gender equality across its portfolio and within its workforce. This includes directing 30% of the loan proceeds towards 2X aligned businesses, enterprises that advance women’s economic participation, and supporting women’s career development internally. As part of its commitment, FinDev Canada is also exploring ways to integrate gender-focused Technical Assistance into CIFI’s clients who benefit from FinDev Canada’s loan proceeds.

This investment reflects Canada’s ongoing strategic partnerships in Latin America and the Caribbean, and highlights opportunities to expand sustainable investments for mutual economic prosperity.

“FinDev Canada is pleased to reaffirm its commitment, and build on its partnership with CIFI to accelerate climate infrastructure projects in Latin America and the Caribbean. Through our renewed collaboration, we can strengthen economic growth, advance gender equality, and promote climate action in a region highly exposed to climate change impacts,” said Lori Kerr, CEO, FinDev Canada.

“We are grateful to FinDev Canada for its trust and for strengthening a long‑standing partnership focused on sustainable and inclusive infrastructure in Latin America and the Caribbean. This financing will support climate action, accelerate the energy transition, and deepen gender‑inclusive practices across our portfolio, contributing to the region’s development needs,” said César Cañedo‑Argüelles, Chief Executive Officer of CIFI.

About FinDev Canada

FinDev Canada is Canada’s bilateral development finance institution (DFI), supporting development through the private sector. We provide financing, investment, and blended finance solutions, as well as technical assistance and advisory, to promote sustainable and inclusive growth in emerging markets and developing economies (EMDEs), in alignment with the Sustainable Development Goals (SDGs) and Paris Agreement commitments. Find out more about FinDev Canada at www.findevcanada.ca.

About CIFI

CIFI is a Panama-based investment platform that provides integrated financial solutions to private developers and investors in sustainable, high-impact infrastructure across Latin America and the Caribbean. With a robust track record of involvement in 220+ transactions valued at over US$2 billion in disbursements, CIFI has successfully mobilized US$21 billion in capital since its incorporation in 2001. Find out more about CIFI at www.cifi.com.

Photo – https://mma.prnewswire.com/media/2956069/FinDev_Canada_FinDev_Canada_provides_USD_30_million_loan_to_CIFI.jpg

Logo – https://mma.prnewswire.com/media/2956067/FinDev_Canada_FinDev_Canada_provides_USD_30_million_loan_to_CIFI.jpg

Hosted in collaboration with the University of Guyana and the Internet Society, the three-day program brings ICANN’s technical expertise directly to local stakeholders to help address challenges related to the local identifier system. The University of Guyana plays a central role in the country’s Internet ecosystem, hosting Guyana’s Internet Exchange Point as well as the country code top-level domain name, .gy. The agenda includes hands-on workshops on the Domain Name System (DNS), Domain Name System Security Extensions (DNSSEC), and security best practices for Internet service providers and network operators, aimed at strengthening local technical capacity and enhancing the resilience of Guyana’s Internet infrastructure.

“The Caribbean premiere of ICANN Near You in Guyana reflects the strong regional and national collaboration that makes the multistakeholder model work,” said Rodrigo de la Parra, ICANN Vice President for Stakeholder Engagement and Managing Director for Latin America and the Caribbean. “We are grateful for the active participation of the Secretariat of the Caribbean Community (CARICOM) and the Office of the Prime Minister of Guyana, as well as the contributions of community leaders such as Lance Hinds, Chair of LACRALO, and Internet governance expert Claire Craig, participating through ICANN’s Community Regional Outreach Program (CROP). Their leadership and support underscore a shared commitment to strengthening technical capacity and Internet resilience across Guyana and the wider Caribbean.”

The event will feature sessions highlighting how stakeholders across Guyana, from students to government officials, can contribute to a stable, secure, and unified global Internet. In addition, ICANN representatives will share practical ways with local law enforcement and government agencies to address DNS Abuse and demonstrate how Guyanese stakeholders can further engage with ICANN’s multistakeholder process.

Participating in ICANN Near You in Guyana is free and open to all. The event will be held at the University of Guyana. For additional details and to register, please visit the registration page.

About ICANN
ICANN’s mission is to help ensure a stable, secure, and unified global Internet. To reach another person on the Internet, you need to type an address – a name or a number – into your computer or other device. That address must be unique so computers know where to find each other. ICANN helps coordinate and support these unique identifiers across the world. ICANN was formed in 1998 as a nonprofit public benefit corporation with a community of participants from all over the world.

Logo – https://mma.prnewswire.com/media/1810953/ICANN_Logo.jpg

The IPS initiative, supported by the World Bank, is designed to enhance the efficiency and connectivity of Barbados’s payment ecosystem by building on its existing strengths and accelerating its modernization. In a 2024 statement, Deputy Governor Michelle Doyle highlighted the value of this transition, noting that “instant payments would eliminate cash flow delays, especially for small businesses.” The initiative reflects the Central Bank of Barbados’s broader commitment to advancing regulatory, legal, and digital literacy frameworks to build a future-ready financial environment.

Montran was selected after a rigorous evaluation based on scalability and interoperability. The 24/7/365 real-time settlement system will integrate banks, credit unions, mobile providers, FinTechs, the Barbados Stock Exchange, and government platforms. With global expertise in deploying advanced security features such as Fraud Detection and QR Payments, Montran will support Barbados’s digital transformation and financial inclusion goals.

“At Montran, we are proud to support the Central Bank of Barbados in this bold step toward digital transformation,” said Matt Walsh, Global Sales Director at Montran. “Our IPS platform will unlock faster, safer, and more inclusive payments for all Barbadians.”

Commenting on the initiative, CBB Governor Dr. Kevin Greenidge noted that the Instant Payments System represents a foundation for future innovation. “This platform will strengthen our payments network, enable real-time settlement across sectors, and enhance system transparency and resilience,” he said.

For Barbadians, the go-live of the IPS marks a significant step forward in financial access and convenience, enabling real-time fund transfers around the clock, expanding access to digital payments, and reducing dependence on costly foreign payment channels. By fostering innovation and streamlining financial services, the IPS will empower small businesses, promote financial inclusion, and support the continued growth of the local economy.

About Montran

Montran is the leading provider of Payment and Capital Market Infrastructure solutions, servicing the world’s foremost financial institutions with installations and operations in over 90 countries. Discover more at www.montran.com.

About the Central Bank of Barbados

The Central Bank of Barbados promotes monetary stability, sound financial institutions, and economic development. The Bank is responsible for issuing currency, managing foreign reserves, and regulating the financial system.

Steven Strom, of Odinbrook Global Advisors, was appointed Independent Director, effective March 18^th, 2025 and Robert Wagstaff, of Riveron Management Services, was appointed Chief Restructuring Officer, effective March 28^th, 2025. Also on that date, Mr. Eduardo Albor was relieved of his duties as an executive and officer of the Company. Since then, Mr. Strom and Mr. Wagstaff have jointly overseen the Company’s management.

These appointments underscore the Company’s commitment to stabilizing operations, preserving value, and executing a viable path out of Chapter 11. Mr. Strom brings over 30 years of experience advising on distressed and special situations, including creditor negotiations, asset sales, valuation, and DIP financings, while Mr. Wagstaff brings 35 years of leadership in Chapter 11 turnarounds, complex restructurings, and integration execution, in Latin America and elsewhere around the world.

Together, they are leading the Company through a Chapter 11 restructuring with an emphasis on animal welfare and safety, stabilizing operations, and maximizing recoveries for stakeholders.

Additional information, including court filings and claims details, is available at veritaglobal.net/dolphinco or by calling 888-733-1434 (U.S./Canada) or 310-751-2633 (International).

ABOUT THE DOLPHIN COMPANY

The Dolphin Company is an aquatic park operator with a global presence, operating 30 parks and dolphin habitats in 8 countries, focusing on interactive experiences with marine mammals and promoting environmental stewardship through education and conservation efforts.

“We’re extremely pleased to be able to serve the global fleet in this important region with an offering of such high quality,” said Baxter Underwood, CEO of Safe Harbor Marinas.

Safe Harbor’s new location in St. Kitts is a naturally protected harbor with world-class amenities and essential superyacht infrastructure making it the Eastern Caribbean’s next premier yachting destination with the ability to accommodate vessels up to 115 meters in length.

The property is a quick water transfer from Nevis and within easy cruising range of St. Barths, making it a smart, central waypoint, that’s designed with captains and crew in mind.

“We are thrilled to continue growing our footprint throughout the most popular cruising areas. St. Kitts is 30 nautical miles from St. Barths,” says Carolina Corral, Senior Vice President at Safe Harbor Marinas.

“We are excited to offer our captains and crew another location that provides the amenities and service they have come to expect at our facilities. Now in the heart of the Caribbean, we can’t wait to see the fleet in St. Kitts,” says Christian Denhard, Senior Vice President at Safe Harbor Marinas.

Together with Safe Harbor Puerto Del Rey, the Caribbean’s largest marina, and Safe Harbor San Juan, Safe Harbor now offers over 1,000 slips in the Caribbean.

About Safe Harbor Marinas

Safe Harbor is the largest owner and operator of marinas in the world. The company provides exceptional service and memorable experiences for the global boating community.

For more, please visit https://shmarinas.com

Logo – https://mma.prnewswire.com/media/2697294/shm_vertical_primary_logo_dark_navy_Logo.jpg

Michael Jennings, Chair of the Board, Appointed as Executive Chair

Provides Preliminary Q1 2025 Results Amidst Macroeconomic and Regulatory Volatility

CALGARY, AB, April 16, 2025 /PRNewswire- Hispanic PR Wire/ — Parkland Corporation (”Parkland” or the “Company”) today announced key management and business updates.

CEO Succession

Bob Espey has informed the Board of Directors that he will step down as President and Chief Executive Officer of Parkland.

“On behalf of the Board, I would like to thank Bob for his vision and leadership over the last fifteen years as President & CEO,” said Michael Jennings, Executive Chair of Parkland. “Bob has led Parkland through a period of exponential growth, transforming the Company from a small regional fuel retailer into one of Canada’s leading fuel and convenience retailers with international operations in twenty-six countries. We thank him for his unwavering commitment and dedication.”

“Serving as Parkland’s CEO has been the opportunity of a lifetime. I want to thank the entire Parkland team — past and present — for their incredible dedication and drive. I am proud of what we have built together,” said Mr. Espey. “Over the past few months, it became clear that stepping down and announcing my departure may help bring resolution to the situation with Simpson Oil Limited and benefit all shareholders. I remain deeply committed to Parkland and will support a smooth transition to new leadership. I look forward to working closely with Michael in his new role as Executive Chair.”

The Board of Directors has formed a CEO search committee (the “Search Committee”) comprised of independent directors to oversee an extensive executive search process to select a qualified candidate to replace Mr. Espey. Mr. Espey’s deep understanding of Parkland’s operations will provide continuity during the search process. He will stay on until the appointment of a new CEO, the completion of the strategic review, or December 31, 2025, whichever occurs first.

Update to Board Responsibilities

Effective immediately, Michael Jennings is appointed Executive Chair. In addition to providing continued leadership to the Board, Mr. Jennings will remain focused on the governance and delivery of a disciplined strategic review process which is being led by a Special Committee of experienced directors, supported by Goldman Sachs Canada and BofA Securities.

The strategic review aims to identify opportunities to maximize shareholder value by evaluating the current business strategy and optimization opportunities, while also considering alternatives including asset divestments, acquisitions, transformative business combinations and a sale of the Company.

In line with best corporate governance practices, James Neate is appointed Lead Independent Director of the Board.

Q1 2025 Preliminary Results

Parkland has a diversified and resilient business. Its base business is well positioned and retains significant operational flexibility to navigate macroeconomic uncertainty on the horizon, which is impacting fuel demand and unit margins.

Recent regulatory developments in Canada and the United States have created volatility and intensified market disruptions. These are curtailing the profitability and movement of refined products into the United States and creating structural shifts in climate and carbon compliance programs.

For the first quarter of 2025, Parkland expects to deliver Adjusted EBITDA of approximately $375 million.

• Canada expects to deliver Adjusted EBITDA of approximately $110 million. While our base fuel retailing, convenience and supply business performed in line with our expectations, the quarter was impacted by a commercial decision to wind down our Californian compliance market position¹. While these markets have historically benefited our strategy, and been profitable, given the broader shift in the macro and regulatory environment listed above, we chose to fully exit our positions in the first quarter, resulting in a charge of approximately $55 million.
• International expects to deliver Adjusted EBITDA of approximately $181 million. This reflects strong underlying commercial and wholesale performance, and continued strength in our South American region, as well as the translation impact of a strengthening U.S. dollar.
• USA expects to deliver Adjusted EBITDA of approximately $16 million. We continue to see macro pressures impacting fuel and convenience demand in line with broader industry trends, as well as competitive market dynamics which are impacting unit margins. Furthermore, a core tenet of our U.S. strategy, which is capitalizing on supply arbitrage opportunities moving refined product between Canada and the U.S., has been impacted by the macro-economic and regulatory developments noted above.
• Refining expects to deliver Adjusted EBITDA of approximately $79 million, which includes the successful completion of a three-week planned maintenance event. The refinery performed safely and reliably in the first quarter which allowed us to benefit from favourable market conditions.

The 2025 Adjusted EBITDA guidance of $1.8 billion to $2.1 billion was purposefully broad to reflect the potential impact of ongoing macroeconomic volatility. Based on current market conditions, Parkland now expects results to be toward the lower end of that range.

Parkland will release its first quarter 2025 results after market close on May 5, 2025. The Annual General Meeting of Shareholders will be held at 9:00 a.m. MT on May 6, 2025, in Calgary, Alberta.

The financial information contained in this release is preliminary, unaudited, and subject to change based on completion of the Company’s quarter-end financial close process and final accounting review.

About Parkland Corporation

Parkland is a leading international fuel distributor, marketer, and convenience retailer with safe and reliable operations in twenty-six countries across the Americas. Our retail network meets the fuel, and convenience needs of everyday consumers. Our commercial operations provide businesses with fuel to operate, complete projects and better serve their customers. In addition to meeting our customers’ needs for essential fuels, Parkland provides a range of choices to help them lower their environmental impact, including manufacturing and blending renewable fuels, ultra-fast EV charging, a variety of solutions for carbon credits and renewables, and solar power. With approximately 4,000 retail and commercial locations across Canada, the United States, and the Caribbean region, we have developed supply, distribution, and trading capabilities to accelerate growth and business performance.

Our strategy is focused on two interconnected pillars: our Customer Advantage and our Supply Advantage. Through our Customer Advantage, we aim to be the first choice of our customers through our proprietary brands, differentiated offers, extensive network, competitive pricing, reliable service, and compelling loyalty program. Our Supply Advantage is based on achieving the lowest cost to serve among independent fuel marketers and distributors in the hard-to-serve markets in which we operate, through our well-positioned assets, significant scale, and deep supply and logistics capabilities. Our business is underpinned by our people and our values of safety, integrity, community, and respect, which are embedded across our organization.

Forward-Looking Statements

Certain statements contained herein constitute forward-looking information and statements (collectively, “forward-looking statements”). When used the words “expect”, “will”, “could”, “would”, “believe”, “continue”, “pursue” and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things: the expected first quarter 2025 consolidated Adjusted EBITDA of Parkland and the expected first quarter 2025 Adjusted EBITDA of each operating segment (each calculated consistently as set out in section 16.A. of the management’s discussion and analysis for the quarter ended December 31, 2024, and note 26(a) to the consolidated financial statements for the year ended December 31, 2024, each dated March 5, 2025); Parkland’s expectation of being within the lower end of the 2025 Adjusted EBITDA Guidance range of $1.8 to $2.1 billion; and Mr. Espey remaining President and CEO until the earlier of an appointment of a new CEO, the completion of the strategic review, or December 31, 2025.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities laws. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks, assumptions and uncertainties including, but not limited to: Parkland’s quarter-end financial close procedures; general economic, market and business conditions; regulatory changes; micro and macroeconomic trends and conditions, including increases in interest rates, inflation, imposition of tariffs and fluctuating commodity prices; Parkland’s ability to execute its business strategy; the results of Parkland annual general meeting of shareholders; and any other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described under the headings “Cautionary Statement Regarding Forward-Looking Information” and “Risk Factors” in Parkland’s current Annual Information Form, and under the headings “Forward-Looking Information” and “Risk Factors” in Parkland’s Management’s Discussion and Analysis for the most recently completed financial period, each as filed on SEDAR+ and available on Parkland’s website at www.parkland.ca. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.