Parkland Strengthens Board with Appointment of Two Independent Directors

CALGARY, AB, March 18, 2025 /PRNewswire-HISPANIC PR WIRE/ — Parkland Corporation (”Parkland” or the “Company”) (TSX: PKI) today is pleased to announce the appointment of Felipe Bayon and Sue Gove to its Board of Directors (the “Board”), effective March 18, 2025. These appointments reinforce the Company’s commitment to strong corporate governance by adding two highly experienced c-suite leaders.

“Felipe and Sue are accomplished executives with expertise in industries and sectors that align with Parkland’s business,” said Michael Jennings, Chair of the Board. “Felipe’s deep energy industry experience in Parkland’s broader international region combined with Sue’s extensive retail experience and governance expertise, will be invaluable as the Company explores all options to maximize value for all shareholders.”

Mr. Bayon brings more than 30 years of leadership experience in the global energy sector. He previously held senior operational roles with BP plc and served as President and Chief Executive Officer of Ecopetrol S.A. (”Ecopetrol”), Colombia’s largest integrated energy company and one of the largest and most influential corporations in Parkland’s international region. While at Ecopetrol, Mr. Bayon spearheaded the company’s transformation into a diversified energy group, delivered record safety and financial performance and strengthened corporate governance.

Ms. Gove has extensive experience in the retail sector, including holding positions as Chief Executive Officer, Chief Financial Officer and Chief Operating Officer. In addition to a deep understanding of consumer behaviour, Ms. Gove has led multiple strategic transformations and brings extensive public and private company board experience including a 12-year tenure at AutoZone Inc., where she spent 8 years as Chair of the Nominating and Governance Committee. Ms. Gove currently serves on the board of directors of LKQ Corporation.

These appointments mark the latest step in Parkland’s ongoing commitment to strong governance and a rigorous, ongoing board renewal process, which has prioritized recruiting directors with deep industry and executive expertise. Additionally, as Parkland undergoes its previously announced strategic review, Mr. Bayon and Ms. Gove’s expertise will provide valuable perspective in evaluating opportunities to maximize value for all shareholders.

With today’s announcement, Parkland has added six highly experienced Independent Directors to the Board over the past two years to ensure a governance structure that blends relevant expertise with fresh perspectives and organizational continuity.

Parkland’s Annual General Meeting of Shareholders is scheduled to take place on May 6, 2025. The Company continues to openly invite Simpson Oil to rejoin the Board and participate on the Special Committee which is leading the Company’s previously announced strategic review.

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.

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 the words “expect”, “will”, “could”, “would”, “believe”, “continue”, “pursue” 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 commitment to strong corporate governance and its board renewal process; expectations relating to the newly appointed directors as well as those appointed over the past two years; Parkland’s strategic review and expectations relating thereto, including maximizing value for all shareholders; and Parkland’s Annual General Meeting of Shareholders and the date 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 included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. 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; micro and macroeconomic trends and conditions, including increases in interest rates, inflation, imposition of tariffs and fluctuating commodity prices; Parkland’s ability to execute its business strategy, including its board renewal process and its strategic review, and realizing benefits resulting therefrom; Parkland’s Annual General Meeting of Shareholders and the date thereof; and any 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 in this news release are expressly qualified by this cautionary statement.