That first export marked the beginning of a new era for LNG in the United States and laid the foundation for what has become a decade of safe, reliable operations at Sawgrass LNG & Power’s Miami liquefaction facility and at customer sites across the region.

Since that milestone, Sawgrass LNG & Power has grown into one of the most experienced LNG suppliers serving customers in the Southeast United States and throughout the Caribbean. Over the past decade, the company has supported a wide range of users, from transportation and industrial customers to resorts and island utilities seeking to transition away from diesel and heavy fuel oil. Sawgrass LNG & Power’s focus on operational safety and reliability has helped customers reduce energy costs, lower emissions, and strengthen system resilience in regions where energy delivery can be particularly challenging.

“We take pride in our place in the history of U.S. LNG and in the industry’s extraordinary growth over the last decade. We are especially proud to have been the first to deliver LNG to Barbados, the Bahamas, and Haiti. Sawgrass looks forward to continuing to grow and support our customers with energy solutions over the next ten years,” said Daniel McLaughlin, President & Chief Commercial Officer.

Today, Sawgrass LNG & Power continues to expand to meet rising demand from customers seeking practical, lower-cost alternatives to conventional liquid fuels across the Florida and Caribbean markets. The company’s deep experience operating in remote markets has made it a trusted partner for utilities, industrial operations, commercial customers, and transportation providers alike. As it enters its second decade, Sawgrass LNG & Power remains committed to the principles that have defined its success: safe operations, reliable service, and strong partnerships with the customers and communities it serves.

About Sawgrass LNG & Power

Sawgrass LNG & Power is a leading provider of LNG supply and gas-to-power solutions, serving a diverse range of customers in the Southeastern U.S. and the Caribbean. Headquartered in Miami, Florida, the company operates a state-of-the-art LNG facility and provides turnkey LNG supply, logistics, and gas-to-power solutions for utilities, industrial users and commercial operators.

Logo – https://mma.prnewswire.com/media/2762051/Sawgrass_LNG__Power_Logo.jpg

For complete instructions, please refer to the letter of transmittal and election form previously mailed to registered shareholders on September 11, 2025 and the associated press release issued by the Company on the same day, each available on www.parkland.ca and the Company’s profile on SEDAR+ at www.sedarplus.ca.

Beneficial (non-registered) shareholders whose Company Shares are registered in the name of an intermediary such as a broker, investment dealer, bank, trust company, trustee, nominee or other intermediary should not use the letter of transmittal but rather should contact their intermediary for instructions and assistance in depositing their Company Shares and electing the form of consideration they wish to receive. Every intermediary has its own procedures with respect to the election and may have an earlier election deadline.

The Sunoco Arrangement is expected to close in the fourth quarter of 2025, subject to obtaining certain remaining regulatory approvals and the satisfaction or waiver of customary closing conditions.

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.

Forward-Looking Statements

Certain statements contained herein constitute forward-looking information and statements (collectively, “forward looking statements”). When used in this press release, the words “expect”, “may”, “shall”, “will”, and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements with respect to, among other things, the Election Deadline, the completion of the Sunoco Arrangement and the expected timing thereof, the receipt of the remaining key regulatory approvals that are a condition to completing the Sunoco Arrangement and the satisfaction or waiver of customary closing conditions.

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 should not be unduly relied upon. These forward-looking statements speak only as of the date hereof. 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: general economic, regulatory, market and business conditions; the completion of the Sunoco Arrangement on anticipated terms and the closing date thereof, or at all, including obtaining certain remaining regulatory approvals and the satisfaction or waiver of customary closing conditions; Parkland’s ability to execute its business strategy; action by other persons or companies; the consideration to be received by Parkland shareholders is subject to proration, maximum amounts and adjustments, such that a Parkland shareholder may not receive all of the consideration in the form that they elect to receive; and 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 dated March 5, 2025, under the headings “Forward-Looking Information” and “Risk Factors” in the Q2 Management’s Discussion and Analysis dated August 5, 2025, and under the heading “Risk Factors” in Parkland’s management information circular and proxy statement dated May 26, 2025, each as filed on SEDAR+ and available on Parkland’s website at www.parkland.ca.

The forward-looking statements contained herein are expressly qualified by this cautionary statement.

For Further Information: Investor Inquiries, 1-855-355-1051, Investor.Relations@parkland.ca

Logo – https://mma.prnewswire.com/media/2791212/Parkland_Corporation_Parkland_Corporation_Announces_Election_Dea.jpg

The expiration of the waiting period under the HSR Act satisfies an important regulatory approval necessary for the completion of the Transaction, which is expected to close in the fourth quarter of 2025, subject to obtaining other regulatory approvals and the satisfaction of certain customary closing conditions.

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. Parkland’s retail network meets the fuel, and convenience needs of everyday consumers. Parkland’s commercial operations provide businesses with fuel to operate, complete projects and better serve their customers. In addition to meeting its 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, Parkland has developed supply, distribution, and trading capabilities to accelerate growth and business performance.

Parkland’s strategy is focused on two interconnected pillars: its Customer Advantage and its Supply Advantage. Through its Customer Advantage, Parkland aims to be the first choice of its customers through its proprietary brands, differentiated offers, extensive network, competitive pricing, reliable service, and compelling loyalty program. Parkland’s 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 it operates, through its well-positioned assets, significant scale, and deep supply and logistics capabilities. Parkland’s business is underpinned by our people and our values of safety, integrity, community, and respect, which are embedded across its organization.

About Sunoco LP

Sunoco LP (NYSE: SUN) is a leading energy infrastructure and fuel distribution master limited partnership operating in over 40 U.S. states, Puerto Rico, Europe, and Mexico. The Partnership’s midstream operations include an extensive network of approximately 14,000 miles of pipeline and over 100 terminals. This critical infrastructure complements the Partnership’s fuel distribution operations, which serve approximately 7,400 Sunoco and partner branded locations and additional independent dealers and commercial customers. SUN’s general partner is owned by Energy Transfer LP (NYSE: ET).

Forward-Looking Statements

Certain statements contained herein constitute forward-looking information and statements (collectively, “forward looking statements”). When used in this news release, the word “expect” 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 completion of the Transaction and the timing thereof.

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 should not be unduly relied upon. These forward-looking statements speak only as of the date hereof. Neither Parkland nor Sunoco undertakes any obligation 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: general economic, regulatory, market and business conditions; the completion of the Transaction on the anticipated terms and timing, or at all, including obtaining regulatory approvals and the satisfaction or waiver of customary closing conditions ; actions by persons or others; the risk that disruptions from the Transaction will harm Sunoco’s or Parkland’s business, including current plans and operations and that management’s time and attention will be diverted on Transaction-related issues; potential adverse reactions or changes to business relationships, including with employees, suppliers, customers, competitors or credit rating agencies, resulting from the Transaction; the potential for modification or adjustment of the arrangement agreement governing the terms of the Transaction; potential business uncertainty, including the outcome of commercial negotiations and changes to existing business relationships during the pendency of the Transaction that could affect Sunoco’s and/or Parkland’s financial performance and operating results; and certain restrictions during the pendency of the Transaction that may impact Parkland’s ability to pursue certain business opportunities or strategic transactions or otherwise operate its business. See also the risks and uncertainties described (i) under the headings “Cautionary Statement Regarding Forward-Looking Information” and “Risk Factors” in Parkland’s current Annual Information Form dated March 5, 2025, under the headings “Forward-Looking Information” and “Risk Factors” in the Q2 Management’s Discussion and Analysis dated August 5, 2025, and under the heading “Risk Factors” in Parkland’s management information circular and proxy statement dated May 26, 2025, each as filed on SEDAR+ and available on Parkland’s website at www.parkland.ca, (ii) in Item 1A of Sunoco’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (”SEC”) on February 14, 2025 and in Item 1A of Sunoco’s Quarterly Reports on Form 10-Q, filed with the SEC on May 8, 2025 and August 7, 2025.

The forward-looking statements contained herein are expressly qualified by this cautionary statement.

For Further Information; Investor Inquiries, 1-855-355-1051, Investor.Relations@parkland.ca.

Logo – https://mma.prnewswire.com/media/2778031/Parkland_Corporation_Parkland_Corporation_and_Sunoco_LP_Announce.jpg

Due to the pending arrangement with Sunoco LP that was previously announced on May 5, 2025, Parkland will not host a conference call or webcast to discuss its second quarter results.

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.

The Company is pleased to announce that all matters presented at the Meeting were approved, including the special resolution (the “Arrangement Resolution”) approving the arrangement with Sunoco LP (the “Arrangement”) and election of all ten nominees listed in the management information circular dated May 26, 2025 (the “Information Circular”). The complete results of voting for business considered at the Meeting are set out below and are made available on Parkland’s SEDAR+ profile at www.sedarplus.ca.

The Arrangement remains subject to other closing conditions, including regulatory approvals and the final approval by the Court of King’s Bench of Alberta. The Arrangement is expected to close in the second half of 2025.

Resolution 1

Approval of the Arrangement Resolution:

Resolution 2

Election of directors of Parkland to hold office until the close of the next annual meeting of shareholders, until their successor is elected or appointed, or until they otherwise cease to hold office:

Resolution 3

Reappointment of PricewaterhouseCoopers LLP, Chartered Accountants, as auditor of Parkland until the close of the next annual meeting of shareholders, with remuneration to be determined by the board of directors of Parkland:

Resolution 4

Approval, on a non-binding and advisory basis, of Parkland’s approach to executive compensation as set forth and described in the Information Circular:

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 in this news release, the words “commit”, “ensure”, “enhance”, “expect”, “increase”, “ongoing”, “will”, 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 final approval of the Court of King’s Bench of Alberta, receipt of regulatory approvals, satisfaction of the conditions precedent to the Arrangement and the anticipated timing of closing of the Arrangement.

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 should not be unduly relied upon. These forward-looking statements speak only as of the date hereof. 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: general economic, regulatory, market and business conditions; the completion of the Arrangement on anticipated terms and timing, or at all, including obtaining court approval, regulatory approvals and other customary closing conditions; Parkland’s ability to execute its business strategy; action by other persons or companies; the expected timing of the court approval and the anticipated effective date of the Arrangement may be changed or delayed; and 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, under the headings “Forward-Looking Information” and “Risk Factors” in Parkland’s Management’s Discussion and Analysis for the most recently completed financial period, and under the heading “Risk Factors” in the Information Circular, each as filed on SEDAR+ and available on Parkland’s website at www.parkland.ca. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

The forward-looking statements contained herein are expressly qualified by this cautionary statement.

Logo – https://mma.prnewswire.com/media/2718127/Parkland_Corporation_Parkland_Corporation_Announces_Results_of_t.jpg

ISS noted that “when viewed in proper context, there are compelling reasons to believe that this deal is the best path forward for shareholders.” Among the reasons cited were the offer premium, flexible consideration (subject to pro-ration), the absence of competing proposals, support from Parkland’s largest shareholder, and the opportunity for shareholders to participate in future upside potential of the combined entity.¹

Glass Lewis emphasized the compelling fit and enhanced diversification, scale and optionality of the combined platform. Further, the firm specifically cited the advantages of the C-corp holding structure and improved capital markets access for the combined company.¹

In addition to the endorsements from ISS and Glass Lewis, the Arrangement has been supported by fairness opinions provided to Parkland’s Board of Directors by each of Goldman Sachs Canada Inc. and BofA Securities, Inc., and to the independent Special Committee of the Board of Directors by BMO Nesbitt Burns Inc. Parkland’s Special Committee and Board of Directors have unanimously recommended shareholders vote FOR the Arrangement.

Voting and Meeting Details
To ensure your vote is counted, shareholders must submit their votes by Friday, June 20, 2025, at 9:00 a.m. (Calgary Time). Parkland encourages shareholders to vote today to avoid missing this deadline.

In addition to voting on the proposed Arrangement with Sunoco, shareholders will be asked to consider several important matters at the Meeting, including the election of the Company’s Board of Directors, the appointment of Parkland’s auditor, an advisory, non-binding vote on Parkland’s approach to executive compensation, and to receive Parkland’s audited financial statements for 2024. These matters received overwhelming support from ISS and Glass Lewis.

The Meeting will be held on June 24, 2025, at 9:00 a.m. (Calgary Time) at the Calgary TELUS Convention Centre in Calgary, Alberta.

The Management Information Circular and related Meeting materials can be found on Parkland’s SEDAR+ profile at www.sedarplus.ca, as well as at ParklandSunoco.ca.

Questions? Need Help Voting?
If you have questions or need assistance voting, please contact Kingsdale Advisors at 1-888-518-6832 (toll-free in North America) or 1-647-251-9740 (text and call enabled outside North America), or by email at contactus@kingsdaleadvisors.com

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.

About Sunoco LP
Sunoco (NYSE: SUN) is a leading energy infrastructure and fuel distribution master limited partnership operating in over 40 U.S. states, Puerto Rico, Europe, and Mexico. Sunoco’s midstream operations include an extensive network of approximately 14,000 miles of pipeline and over 100 terminals. This critical infrastructure complements the Partnership’s fuel distribution operations, which serve approximately 7,400 Sunoco and partner branded locations and additional independent dealers and commercial customers. Sunoco’s general partner is owned by Energy Transfer LP (NYSE: ET).

Forward-Looking Statements
Certain statements contained herein constitute forward-looking information and statements (collectively, “forward looking statements”). When used in this news release, the words “commit”, “ensure”, “enhance”, “expect”, “increase”, “ongoing”, “will”, 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: Parkland’s Annual and Special Meeting of Shareholders and the timing thereof;

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 should not be unduly relied upon. These forward-looking statements speak only as of the date hereof. 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: general economic, market and business conditions; Parkland’s Annual and Special Meeting of Shareholders and the results thereof, Parkland’s ability to execute its business strategy; action by other persons or companies; and 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 herein are expressly qualified by this cautionary statement.

The forward-looking statements contained herein are expressly qualified by this cautionary statement.

Establishes a Scalable Platform for Long-Term Value Creation

CALGARY, AB, May 28, 2025 /PRNewswire-HISPANIC PR WIRE/ — Parkland Corporation (”Parkland”, “we”, the “Company” or “our”) (TSX: PKI) today announced the filing of its Management Information Circular (the “Circular”) and accompanying materials for the upcoming annual and special meeting (the “Meeting”) of the Parkland shareholders (the “Company Shareholders”) in connection with its previously announced strategic transaction involving Sunoco LP (”Sunoco”), and a wholly-owned subsidiary of Sunoco group (”SunocoCorp”).

This transformative transaction marks a pivotal moment for Parkland, delivering immediate value to Company Shareholders while positioning the combined company for long-term growth. The transaction will be implemented by way of a plan of arrangement (the “Plan of Arrangement”) under the Business Corporations Act (Alberta) (the “Arrangement”).

The Best Path Forward for Parkland and Our Shareholders

Parkland’s board of directors (the “Parkland Board”) unanimously recommends that Company Shareholders vote FOR the special resolution approving the Arrangement (the “Arrangement Resolution”).

Key benefits of the Arrangement include:

Immediate Value and Future Upside

• The Arrangement represents a 25% premium based on the 7-day volume-weighted average price of both the Parkland shares and Sunoco units as of May 2, 2025.
• Company Shareholders benefit from the flexibility to choose one of three forms of consideration:
  • C$19.80 in cash and 0.295 common units of SunocoCorp (which will be a newly listed NYSE public company that holds an interest in Sunoco);
  • C$44.00 in cash¹; or
  • 0.536 SunocoCorp common units¹.
• Company Shareholders who receive SunocoCorp common units will be able to participate in future upside, including potential dividend growth, resulting from the combined business. For two years post-closing, holders of SunocoCorp common units will receive dividends on their units equal to the distributions made to holders of Sunoco common units.

The Strategic Rationale for the Arrangement

• The combined company will be one of the largest independent fuel distributors in the Americas, creating greater scale and stability, and is expected to grow returns, improve margins and increase distributable cash flow per unit.
• The transaction leverages the complementary strengths of both companies to create a more diversified portfolio spanning Canada, the U.S., and the Caribbean, reducing single-industry exposure while improving earnings resiliency and minimizing volatility.
• The combined company is expected to achieve US$250 million in annual run-rate synergies by the third year, strengthening financial performance and boosting shareholder returns.

Sunoco’s Commitment to Responsible Stewardship and Growth in the Markets Parkland Serves

• Sunoco will maintain a Canadian headquarters in Calgary and significant employment levels in Canada.
• Sunoco is committed to ongoing investment in Canadian operations, including the Burnaby Refinery and Parkland’s transportation energy infrastructure expansion plans.
• The combined company’s expanded free cash flow will provide additional resources for reinvestment in Canada, the U.S., and the Caribbean in support of both existing and new opportunities.

These commitments affirm a vote of confidence in Canada, with Sunoco returning to a country where it has a long history of investment.

Additional Factors

The Arrangement is the result of arm’s length negotiations between Parkland and Sunoco with the Company Special Committee (the “Special Committee”) actively overseeing the process and guiding management and advisors. Following this thorough process, the Special Committee and the Parkland Board concluded that the consideration payable to Company Shareholders reflects Sunoco’s highest price.

The Special Committee and the Parkland Board evaluated the Arrangement in light of Parkland’s financial condition, operational performance, strategic alternatives, and market conditions. After reviewing fairness opinions provided to the Parkland Board by Goldman Sachs Canada Inc. and BofA Securities Inc., as well as a fairness opinion provided to the Special Committee by BMO Nesbitt Burns Inc., all of which deemed the consideration fair from a financial perspective, the Special Committee unanimously determined the Arrangement is in the best interests of Parkland and its shareholders.

Based on this determination, the Special Committee recommended, and the Board unanimously endorsed, the Arrangement. The transaction is not subject to financing conditions, and Sunoco has demonstrated a strong commitment to completing it efficiently. The reasons for the Parkland Board’s unanimous recommendation are more fully described under the headings “The Arrangement – Recommendation of the Parkland Board” and “The Arrangement – Reasons for the Recommendations” in the Circular.

The Arrangement is subject to court approval, Company Shareholder approval, regulatory approvals and other customary closing conditions.

Other Business at the Meeting

In addition to considering and voting on the Arrangement Resolution, Company Shareholders will also deal with several important matters at the Meeting (the “Annual Matters”), the first three of which will be subject to a shareholder vote. These include:

1. Election of Directors: Company Shareholders will be asked to elect the slate of current Parkland Board members (other than Lisa Colnett who is not standing for re-election): Felipe Bayon, Nora Duke, Robert Espey, Sue Gove, Timothy Hogarth, Richard Hookway, Michael Jennings, Angela John, James Neate, and Mariame McIntosh Robinson to the Parkland Board to complete the Arrangement. The Company did not receive any nominations under its advance notice bylaw.
2. Appointment of Auditor: Company Shareholders will vote on the reappointment of PricewaterhouseCoopers LLP as the auditor of Parkland for the upcoming fiscal year and authorize the Parkland Board to fix their remuneration.
3. Advisory Vote on Executive Compensation: Company Shareholders will have the opportunity to cast a non-binding advisory vote on Parkland’s approach to executive compensation.
4. Review of Financial Statements: Company Shareholders will receive the Company’s audited financial statements for the fiscal year ended December 31, 2024, along with the accompanying auditor’s report.

The Parkland Board recommends that Company Shareholders vote FOR each of the Annual Matters to ensure strong governance and operational excellence during this transitional period.

Meeting and Voting Details:

The Meeting will be held on June 24, 2025, at 9:00 a.m. (Calgary Time), in person at the Calgary TELUS Convention Centre in Calgary, Alberta. Company Shareholders are encouraged to review the Circular, which provides detailed information about the Arrangement and voting instructions. Company Shareholders are urged to vote well in advance of the Meeting and in any event, prior to the Voting Deadline, on June 20, 2025, at 9:00 A.M. (Calgary Time).

The mailing of the Circular and accompanying materials to Company Shareholders of record as of May 23, 2025 has commenced.

The Circular and related Meeting materials can be found on Parkland’s SEDAR+ profile at www.sedarplus.ca, as well as at ParklandSunoco.ca. Company Shareholders may request copies of the Circular and Meeting materials by electronic mail or by courier by sending an email to legal@parkland.ca no later than 10 business days prior to the Meeting, or any adjournment or postponement thereof.

If you have questions or need assistance voting, please contact Kingsdale Advisors at 1-888-518-6832 (toll-free in North America) or 1-647-251-9740 (text and call enabled outside North America), or by email at contactus@kingsdaleadvisors.com.

Vote Online

Registered Company Shareholders: Visit www.investorvote.com with your 15-digit control number.

Beneficial Company Shareholders: Visit www.proxyvote.com with your 16-digit control number.

Vote by Telephone

Registered Company Shareholders: Call toll-free at 1-866-732-8683 (in North America) or 1-312-588-4290 (in countries outside of North America) with your 15-digit control number.

Beneficial Company Shareholders: Call 1-800-474-7493 for English and 1-800-474-7501 for French (in Canada) or 1-800-454-8683 (in the United States) with your 16-digit control number.

Vote by Mail

Registered Company Shareholders: Complete, sign and date your BLUE form of proxy and return it in the postage paid envelope included in your package by mail in accordance with the instructions therein.

Beneficial Company Shareholders: Complete, sign and date your BLUE voting instruction form and return it in the postage paid envelope included in your package by mail in accordance with the instructions therein.

Questions? Need Help Voting?
If you have questions or need assistance voting when you receive the Circular and accompanying materials, please contact Kingsdale Advisors at 1-888-518-6832 (toll-free in North America) or 1-647-251-9740 (text and call enabled outside North America), or by email at contactus@kingsdaleadvisors.com.

To obtain current information about the Arrangement and the Annual Matters, please visit ParklandSunoco.ca.

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.

About Sunoco LP
Sunoco (NYSE: SUN) is a leading energy infrastructure and fuel distribution master limited partnership operating in over 40 U.S. states, Puerto Rico, Europe, and Mexico. Sunoco’s midstream operations include an extensive network of approximately 14,000 miles of pipeline and over 100 terminals. This critical infrastructure complements the Partnership’s fuel distribution operations, which serve approximately 7,400 Sunoco and partner branded locations and additional independent dealers and commercial customers. Sunoco’s general partner is owned by Energy Transfer LP (NYSE: ET).

Forward-Looking Statements
Certain statements contained herein constitute forward-looking information and statements (collectively, “forward looking statements”). When used in this news release, the words “commit”, “ensure”, “enhance”, “expect”, “increase”, “ongoing”, “will”, 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 Arrangement, and the anticipated benefits thereof; the consideration payable to the Company Shareholders under the Arrangement; the business of the Combined Company after giving effect to the Arrangement; the expected value creation resulting from the arrangement; anticipated tax efficiencies associated with SunocoCorp structure; the anticipated dividends payable to holders of SunocoCorp Common Units; the listing of SunocoCorp on the NYSE; the business, financial performance, operations and size of the Combined Company; Sunoco’s commitment to maintaining a Canadian headquarters in Calgary for the Combined Company; the Combined Company’s free cash flow and anticipated uses thereof; the mailing of Parkland’s Circular and accompanying materials to Company Shareholders; and the Meeting, and the anticipated timing and location thereof;

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 should not be unduly relied upon. These forward-looking statements speak only as of the date hereof. 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: general economic, market and business conditions; the completion of the Arrangement on anticipated terms and timing, or at all, including obtaining court approval, Company Shareholder approval, regulatory approvals and other customary closing conditions; the anticipated benefits of the Arrangement may not be realized; the consideration to be received by Company Shareholders is subject to proration, such that a Company Shareholder may not receive all of the consideration in the form that they elect to receive; the SunocoCorp Common Units to be received by Company Shareholders as a result of the Arrangement will have different rights from the Company shares; the amount of any dividends or distributions to be paid by SunocoCorp following the Arrangement will not be guaranteed; anticipated tax treatment; potential litigation relating to the Arrangement that could be instituted against Sunoco or Parkland; potential adverse reactions or changes to business relationships, including with employees, suppliers, customers, competitors or credit rating agencies, resulting from the Arrangement; certain restrictions during the pendency of the Arrangement that may impact Parkland’s ability to otherwise operate its business; the expected timing of the Meeting, the court approval and the anticipated effective date of the Arrangement may be changed or delayed; and 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 dated March 5, 2025, under the headings “Forward-Looking Information” and “Risk Factors” included in the Management’s Discussion and Analysis dated May 5, 2025, and under the heading “Risk Factors” in Parkland’s Circular, dated May 26, 2025, each as filed on SEDAR+ and available on Parkland’s website at www.parkland.ca and www.parklandsunoco.ca.

The forward-looking statements contained herein are expressly qualified by this cautionary statement.

Under each Indenture, the consummation of the Transaction would constitute a Change of Control (as defined in such Indenture). A Change of Control Triggering Event with respect to a series of Notes (as defined in the applicable Indenture) would occur if a decrease by one or more gradations (including gradations within the ratings categories, as well as between categories) (a “Ratings Decline”) by certain ratings agency or agencies occur within 90 days before or after the earliest of (x) a Change of Control (as defined in the applicable Indenture), (y) the date of public notice of the occurrence of a Change of Control (as defined in the applicable Indenture) or (z) public notice of the intention of Parkland to effect a Change of Control (as defined in the applicable Indenture) (with such 90-day period to be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by an applicable rating agency). If a Change of Control Triggering Event (as defined in the applicable Indenture) with respect to a series of Notes occurs, each holder of such series would have the right to require Parkland to repurchase all or any part of such holder’s Notes of that series on the terms set forth in the applicable Indenture. If a Change of Control Offer (as defined in the applicable Indenture) is made with respect to a series of Notes, Parkland would be required to offer a cash payment equal to 101% of the principal amount of the Notes of that series to be purchased, plus accrued and unpaid interest. Subsequent to the announcement of the Transaction, Standard & Poor’s Rating Services, Moody’s Investor Services Inc. and DBRS Limited each released reports with respect to the Notes, none of which included a downgrade of the rating of the Notes or an announcement of consideration for possible downgrade of the rating of the Notes. Fitch Ratings, Inc. does not provide a rating with respect to the Notes.

Subject to the conditions described in the consent solicitation statement dated May 27, 2025, as amended from time to time (the “Consent Solicitation Statement”), Parkland is seeking consent from the holders of each series of Notes to amend the Indenture for each such series to (collectively, the “Proposed COC Amendments”):

a) eliminate Parkland’s potential obligation under such Indenture to make a “Change of Control Offer” (as defined in such Indenture) as a result of the Transaction; and

b) amend the defined term “Change of Control” in such Indenture to provide that Sunoco and its affiliates will be “Qualified Owners” of Parkland.

With respect to each series of the Notes, the adoption of the Proposed COC Amendments will require the valid and unrevoked consents of holders of at least a majority of the aggregate outstanding principal amount of such series as of the applicable Record Date (as defined below). Receipt of the requisite consent with respect to one series of Notes is not a condition to the completion of the Consent Solicitation with respect to any other series of Notes.

Each Consent Solicitation will expire at 5:00 p.m., Eastern Daylight Time, on June 9, 2025 (such date and time with respect to a Consent Solicitation, as the same may be terminated or extended by Parkland from time to time, in its sole discretion, the “Expiration Date”). Only holders of record of the USD Notes as of 5:00 p.m., Eastern Daylight Time, on May 23, 2025 and holders of record of the CAD Notes as of 5:00 p.m., Eastern Daylight Time, on May 26, 2025 (each, a “Record Date”), are eligible to deliver consents to the Proposed COC Amendments applicable to such series of Notes. Parkland may, in its sole discretion, abandon, terminate, amend or extend any Consent Solicitation with regard to a series of Notes at any time and from time to time as described in the Consent Solicitation Statement.

Only holders of Notes of a series as of the applicable Record Date who deliver valid and unrevoked consents to the Proposed COC Amendments on or prior to the earlier of the applicable Consent Time (as defined in the Consent Solicitation Statement) and the Expiration Date for such series shall receive the Consent Fees set forth in the table above, which are subject to the terms and conditions set forth in the Consent Solicitation Statement. Payment of the consent fees with respect to each series of Notes is subject to the satisfaction (or waiver) by Parkland of certain conditions, including receipt of the applicable requisite consents.

This press release is for informational purposes only and the Consent Solicitations are being made solely on the terms and subject to the conditions set forth in the Consent Solicitation Statement. Holders of any series of Notes are urged to read and carefully consider the information contained in the Consent Solicitation Statement for the detailed terms of the Consent Solicitation and the procedures for consenting to the Proposed COC Amendments. Further, this press release does not constitute an offer to sell or the solicitation of an offer to buy any series of Notes or any other securities. The Consent Solicitation Statement does not constitute a solicitation of consents in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such solicitation under applicable securities laws. Barclays Capital Inc. and RBC Capital Markets, LLC / RBC Dominion Securities Inc. are serving as solicitation agents with respect to the Consent Solicitations. D.F. King & Co., Inc. is serving as Information Agent and Tabulation Agent in connection with the Consent Solicitations with respect to the USD Notes. Computershare Investor Services Inc. is serving as Tabulation Agent in connection with the Consent Solicitations with respect to the CAD Notes. Questions or requests for assistance related to the Consent Solicitations or for additional copies of the Consent Solicitation Statement and other related documents may be directed to Barclays Capital Inc. and RBC Capital Markets, LLC / RBC Dominion Securities Inc. at (212) 528-7581, (212) 618-7843 and (416) 842-6311, respectively, or to D.F. King & Co., Inc. at (212) 269-5550 and (800) 659-5550.

Forward-Looking Statements

Certain statements contained herein constitute forward-looking information and statements (collectively, “forward-looking statements”). When used in this news release, the words “believes”, “expects”, “expected”, “will”, “plan”, “intends”, “target”, “would”, “seek”, “could”, “projects”, “projected”, “anticipates”, “estimates”, “continues” 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 Transaction and the Consent Solicitations.

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 should not be unduly relied upon. These forward-looking statements speak only as of the date hereof. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities laws. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include statements regarding the consummation of the Transaction, the Consent Solicitations, including the timing thereof, and the Proposed COC Amendments. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks, assumptions and uncertainties. For more information, please see the risks and uncertainties described under the headings “Cautionary Statement Regarding Forward-Looking Information” and “Risk Factors” in Parkland’s current Annual Information Form dated March 5, 2025, and under the headings “Forward-Looking Information” and “Risk Factors” included in the Q1 2025 Management’s Discussion and Analysis dated May 5, 2025, each as filed on SEDAR+ and available on Parkland’s website at www.parkland.ca.

The forward-looking statements contained herein are expressly qualified by this cautionary statement.

About Parkland Corporation

Parkland is a leading international fuel distributor, marketer, and convenience retailer with safe and reliable operations in 26 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.

For more information: Investor Inquiries, 1-855-355-1051, Investor.Relations@parkland.ca.