The Toronto Stock Exchange reports that pursuant to a proposed arrangement involving, among others, Parkland Corp., Sunoco LP, SunocoCorp LLC (formerly, NuStar GP Holdings LLC) and 2709716 Alberta ULC (formerly, 2709716 Alberta Ltd.) (the purchaser), Sunoco will acquire, indirectly through the purchaser, all of the issued and outstanding Parkland shares by way of a court-approved plan of arrangement under Section 193 of the Business Corporations Act (Alberta).

According to the TSX, pursuant to the plan of arrangement, in exchange for each Parkland share, holders of Parkland shares may elect to receive one of the following three options: (i) $44 in cash; (ii) approximately 0.536 common unit of SunocoCorp; or (iii) $19.80 in cash and 0.295 of a SunocoCorp unit. The cash elected consideration and the unit elected consideration are subject to proration, maximum amounts and adjustments in accordance with the plan of arrangement.

Notwithstanding the election for the cash elected consideration or unit elected consideration made by a Parkland shareholder, as applicable, such Parkland shareholder may receive their consideration as a combination of cash and SunocoCorp units, depending on the elections (including deemed elections) made by all Parkland shareholders as a result of the maximum amounts and prorationing in the plan of arrangement.

The TSX notes that no fractional SunocoCorp units will be issued under the plan of arrangement. Where the total number of SunocoCorp units to be issued to a former Parkland shareholder would result in a fraction of a SunocoCorp unit being issuable, such former Parkland shareholder will receive, in lieu of such fractional SunocoCorp unit, a cash amount determined by reference to the volume weighted average trading price of the SunocoCorp units on the New York Stock Exchange on the first five trading days on which the SunocoCorp units trade on such exchange following the effective date, converted into Canadian dollars based on the daily rate published by the Bank of Canada on the last day of such five-day period.

If the total cash amount a former Parkland shareholder is entitled to receive pursuant to the plan of arrangement would otherwise include a fraction of one cent, then the aggregate cash amount such former Parkland shareholder is entitled to receive shall be rounded down to the nearest whole one cent. Cash amounts in lieu of fractional SunocoCorp units will be paid only following the determination of the fractional rate and only by cheque.

The TSX reports that the election deadline is 5 p.m. Calgary time on Oct. 17, 2025. Registered Parkland shareholders must complete and return the letter of transmittal and election form, together with the share certificates and/or DRS advices representing their Parkland shares, to Computershare Investor Services Inc. at its principal offices in Toronto prior to the election deadline. Parkland shareholders who do not make a valid election prior to the election deadline will be deemed to have elected to receive the combination elected consideration. Trades from 9:30 a.m. Toronto time to 12 p.m. Toronto time on Oct. 17, 2025, will settle on the same day.

For more information, see Parkland's management information circular and proxy statement dated May 26, 2025, available on SEDAR+. Also see Parkland's news releases dated Sept. 11, 2025, and Oct. 8, 2025.