Mr. Scott Rook reports

CHEMTRADE LOGISTICS ANNOUNCES SUCCESSFUL THIRD READING OF REZONING APPLICATION FOR THE NORTH VANCOUVER CHLOR-ALKALI FACILITY

The rezoning application for Chemtrade Logistics Income Fund's chlor-alkali facility, located in North Vancouver, passed third reading at last night's District of North Vancouver council meeting. This is an important step in the rezoning process but does not constitute final adoption of the bylaw amendment, which is expected to occur in the coming weeks.

Chemtrade submitted a rezoning application to the district in September, 2025, seeking a bylaw amendment to allow the continued production of liquid chlorine at its facility, an activity that has safely taken place since 1957. The adoption of the bylaw amendment would enable Chemtrade to advance planned safety upgrades intended to ensure the continued production of liquid chlorine at the facility.

"The North Vancouver facility has been operating safely for almost 70 years and is a critical producer of liquid chlorine used in municipal water treatment in Canada. The facility also produces caustic soda and hydrochloric acid, both of which play a critical role in supporting the energy sector, pulp and paper, technology, water treatment, and mining. In total, over 60 per cent of the facility's production stays in Canada, supporting Canadian businesses and industry. We are taking steps to secure its long-term operations as a critical facility in B.C. and Canada," said Scott Rook, president and chief executive officer of Chemtrade. "With the successful passing of third reading, we have achieved an important milestone and look forward to the final adoption of the bylaw amendment; however, final adoption remains subject to district council approval, which is tentatively scheduled for July 20, 2026. If successful at this next stage, we will immediately move forward with our plans for additional investment in capital safety projects aimed at improving reliability and safety while further reducing potential risk."

Following bylaw adoption, Chemtrade intends to focus on securing development permits from the district, which would allow for the completion of several capital projects at the facility aimed at improving safety and reliability while further reducing potential risk to the community. The projects are intended to be implemented over the next four years utilizing planned facility turnaround activities to complete the majority of the work. The overall project completion date is expected in late 2030. Final adoption of the bylaw amendment remains subject to further district council consideration and approval, and there can be no assurance that the bylaw amendment will ultimately be adopted.

"Our North Vancouver facility is a key piece of infrastructure not only for Chemtrade but also for the safety and security of drinking water in Canada -- chlorine produced in the facility is a critical chemical used in the treatment of water for millions of people across Western Canada. We are committed to ensuring it remains compliant with all current regulatory requirements," added Mr. Rook. "Since 2010, over $500-million have been invested in the modernization of the facility's operations. Chemtrade plans to continue investments in the next four years to ensure the facility remains a safe and reliable community partner."

While Chemtrade is seeking final adoption of the bylaw amendment from the district council, it also intends to continue engagement with the Vancouver Fraser Port Authority to finalize its land lease for a portion of the facility situated on port lands. In 2025, Chemtrade and the port entered into a non-binding letter of intent outlining terms of a new 20-year agreement.

About Chemtrade Logistics Income Fund

Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world. Chemtrade is one of North America's largest suppliers of sulphuric acid, spent-acid processing services, inorganic coagulants for water treatment, sodium chlorate, sodium nitrite and sodium hydrosulphite. Chemtrade is also one of the largest producers of high-purity sulphuric acid for the semiconductor industry in North America. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products and zinc oxide. Additionally, Chemtrade provides value-added water solutions as well as industrial services such as processing byproducts and waste streams.

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