Mr. Bob Espey reports

PARKLAND FUEL CORPORATION ANNOUNCES 2016 GUIDANCE IN ADVANCE OF ANNUAL INVESTOR DAY

Parkland Fuel Corp. has released its 2016 adjusted earnings before interest, taxes, depreciation and amortization guidance in advance of its annual investor day tomorrow. (All financial figures are expressed in Canadian dollars.)

Guidance range for 2016 adjusted EBITDA

Parkland has announced 2016 adjusted EBITDA guidance of $235-million to $265-million, building upon its previously announced 2015 adjusted EBITDA guidance of $200-million to $230-million (see June 25, 2015, press release).

Two thousand sixteen is the first fiscal year in which Parkland will have the benefit of a full year of contribution from the assets of Pioneer Energy. As a result, Parkland projects the Pioneer business to contribute approximately $55-million to adjusted EBITDA. Such amount is based on historical Pioneer financial information without synergies and an assumption that the Pioneer business will maintain its current performance. On an annualized basis, the contribution to adjusted EBITDA of the Pioneer business is consistent with Parkland's expectations and previous disclosure. The presentation for Parkland's investor day is posted on Parkland's website.

"I am proud of the exceptional growth that our team has achieved over the last five years, and am excited to be laying out some new ambitious goals that will continue to drive Parkland's growth for our shareholders, business partners and employees," said Bob Espey, president and chief executive officer of Parkland.

The lower end of the 2016 guidance range accounts for potential adverse market conditions in Western Canada and the northern United States, and the higher end of the range accounts for potential upside and contributions from Pioneer synergies and organic growth during 2016.

Additional considerations

The 2016 guidance range also includes contribution from the assets in the 11 communities subject to the commissioner's concerns, and the indirect economic interest derived from the Pioneer commercial assets, which are expected to be disposed over time. The aggregate financial impact of the dispositions of any of these assets is not expected to be material. Once the dispositions are complete, Parkland expects to provide a further update on the proceeds realized and adjusted EBITDA sold.

Other than as disclosed herein, the factors and assumptions which contribute to Parkland's assessment of the 2016 guidance range are consistent with existing Parkland disclosure. Parkland's 2016 guidance range is subject to risks and uncertainties inherent in Parkland's business. Readers are directed to Parkland's management's discussion and analysis for the six months ended June 30, 2015, and the year ended Dec. 31, 2014, and Parkland's annual information form for the year ended Dec. 31, 2014, for a description of such factors, assumptions, risks and uncertainties, the manner in which adjusted EBITDA is determined, and Parkland's adjusted EBITDA for the year ended Dec. 31, 2014.

Parkland's 2016 guidance range assumes that 2015 adjusted EBITDA guidance (see revised 2015 adjusted guidance section of the June 25, 2015, press release) will be achieved and reflects management's current views of the variances therefrom that are expected to result from Parkland's operations and business in 2016.