Mr. Glenn Dudar reports

WESTSHORE TERMINALS ANNOUNCES FILING OF Q3 2023 QUARTERLY REPORT AND Q4 2023 DISTRIBUTION

Westshore Terminals Investment Corp. has filed its earnings report for the third quarter ended Sept. 30, 2023, and related management's discussion and analysis with the Canadian security regulatory authorities. Copies of the documents are available on SEDAR+ and the corporation's website. The comparative statement of cash flows contains a reclassification for 2022 of amounts received in respect of potash infrastructure additions. The reclassification has no net effect on the statement of cash flows, and no effect at all on the balance sheet or income statement. The 2022 audited financial statements are being refiled to reflect the reclassification.

Westshore also announced today that a dividend of 35 cents per share will be paid on or before Jan. 15, 2024, to shareholders of record on Dec. 31, 2023, which is the same per-share amount that was paid in Q3 2023. The fourth quarter 2023 dividend will be designated an eligible dividend for Canadian tax purposes.

For the nine months ended Sept. 30, 2023, Westshore loaded 21.0 million tonnes compared with 19.0 million tonnes for the same period in 2022.

Throughput volumes for 2023 as a whole are anticipated to be in the range of 27.0 million to 27.5 million tonnes. The average loading charge for 2023 is expected to be approximately $12.85.

For 2024, based on information currently available, volumes are projected to be approximately 25 million tonnes, and the average loading charge for the year is estimated at $13.25.

We seek Safe Harbor.