{"id":273191,"date":"2025-10-31T21:47:00","date_gmt":"2025-10-27T12:18:00","guid":{"rendered":"https:\/\/hispanicprwire.com\/english-parkland-reports-2025-third-quarter-results-and-provides-update-on-the-sunoco-transaction\/"},"modified":"2025-10-31T21:50:01","modified_gmt":"2025-11-01T01:50:01","slug":"parkland-publica-los-resultados-del-tercer-trimestre-de-2025-y-ofrece-informacion-actualizada-sobre-la-transaccion-con-sunoco","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/parkland-publica-los-resultados-del-tercer-trimestre-de-2025-y-ofrece-informacion-actualizada-sobre-la-transaccion-con-sunoco\/","title":{"rendered":"Parkland Reports 2025 Third Quarter Results and Provides Update on the Sunoco Transaction"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen10{\nPADDING-RIGHT:0.83em; 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BORDER-TOP:1pt none black; BORDER-BOTTOM:none black; BORDER-LEFT:1pt none black; BORDER-RIGHT:1pt none black; VERTICAL-ALIGN: BOTTOM; FONT-SIZE: 8PT; FONT-FAMILY: ARIAL; COLOR: BLACK; MARGIN:0em\n}\n.prnrbrb1{\nBORDER-RIGHT:black 1pt\n}\n.prnsblb1{\nBORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n.prnml8{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.67em !IMPORTANT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnbbbs{\nBORDER-BOTTOM:black 0.5pt solid\n}\n.prnpr4{\nPADDING-RIGHT:0.33em\n}\n.prnml10{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.83em !IMPORTANT\n}\n.prnpr10{\nPADDING-RIGHT:0.83em\n}\n.prnsbtb1{\nBORDER-TOP:black 1pt\n}\n.prncbts{\nBORDER-TOP:black 0.5pt solid\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt  black; BORDER-RIGHT:1pt  black; BORDER-BOTTOM:1pt  black; BORDER-LEFT:1pt  black\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnsbbb1{\nBORDER-BOTTOM:black 1pt\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p class=\"prntac\"><i>Strong third quarter Adjusted EBITDA<sup>1<\/sup> of <span class=\"xn-money\">$540 million<\/span><\/i><\/p>\n<p class=\"prntac\"><i>On track to deliver midpoint of 2025 Adjusted EBITDA Guidance<sup>2<\/sup> of <span class=\"xn-money\">$1.8<\/span> to <span class=\"xn-money\">$2.1 billion<\/span><\/i><\/p>\n<p class=\"prntac\"><i>Sunoco Transaction<sup>3<\/sup> expected to close on <span class=\"xn-chron\">October 31, 2025<\/span><\/i><\/p>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">CALGARY, AB<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Oct. 27, 2025<\/span><\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; Parkland Corporation (&#8220;Parkland&#8221;, &#8220;we&#8221;, the &#8220;Company&#8221;, or &#8220;our&#8221;) (TSX: PKI), today announced its financial and operating results for the three and nine months ended <span class=\"xn-chron\">September 30, 2025<\/span>.<\/p>\n<p>&#8220;Parkland delivered another strong quarter, reflecting the strength of its diversified business, and clearly demonstrating our ability to deliver\u00a02025 Adjusted EBITDA guidance,&#8221; said <span class=\"xn-person\">Bob Espey<\/span>, President and Chief Executive Officer. &#8220;As we approach this important milestone, I am incredibly proud and grateful of the Parkland team and the industry leading business we have built together. I am excited about Parkland&#8217;s next phase of growth with Sunoco, the power of the combined platform, and have confidence in the Company&#8217;s ability to deliver significant synergies and long-term value for its stakeholders.&#8221;<\/p>\n<p><b>Q3 2025 Highlights<\/b><\/p>\n<ul type=\"disc\">\n<li>Delivered Adjusted EBITDA of <span class=\"xn-money\">$540 million<\/span>, up from <span class=\"xn-money\">$431 million<\/span> in Q3 2024, primarily driven by strong operations and margins at the Burnaby Refinery and robust performance in the <span class=\"xn-location\">Canada<\/span> and International segments. These were partially offset by softness in the <span class=\"xn-location\">USA<\/span> segment due to continued macroeconomic pressures and competition.<\/li>\n<li>Net earnings of <span class=\"xn-money\">$129 million<\/span> (<span class=\"xn-money\">$0.74<\/span> per share, basic), up from <span class=\"xn-money\">$91 million<\/span> (<span class=\"xn-money\">$0.52<\/span> per share, basic) in Q3 2024, and Adjusted earnings<sup>4<\/sup> of <span class=\"xn-money\">$180 million<\/span> (<span class=\"xn-money\">$1.03<\/span> per share<sup>4<\/sup>, basic), as compared to <span class=\"xn-money\">$106 million<\/span> (<span class=\"xn-money\">$0.61<\/span> per share, basic) in Q3 2024.<\/li>\n<li>Trailing twelve months (&#8220;TTM&#8221;) Available cash flow<sup>4<\/sup> of <span class=\"xn-money\">$668 million<\/span> (<span class=\"xn-money\">$3.83<\/span> per share<sup>4<\/sup>), up from $627\u00a0million (<span class=\"xn-money\">$3.58<\/span> per share) in 2024, primarily driven by higher Adjusted EBITDA. TTM Cash generated from operating activities<sup>2<\/sup> of <span class=\"xn-money\">$1,646 million<\/span> (<span class=\"xn-money\">$9.45<\/span> per share<sup>2<\/sup>), up from <span class=\"xn-money\">$1<\/span>,490\u00a0million (<span class=\"xn-money\">$8.51<\/span> per share) in 2024.<\/li>\n<li>Leverage Ratio<sup>5<\/sup> decreased to 3.1 times (3.6 times in Q4 2024) and liquidity available<sup>2<\/sup> of approximately <span class=\"xn-money\">$2<\/span>.3\u00a0billion.<\/li>\n<li>Total\u00a0recordable injury frequency rate<sup>6<\/sup> on a TTM basis was 1.07, compared to 1.04 in Q3 2024.<\/li>\n<\/ul>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">____________________________<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total of segments measure. See &#8220;Measures of Segment Profit(Loss) and Total of Segments Measures&#8221; section of this news release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Supplementary financial measure. See &#8220;Supplementary Financial Measures&#8221; section of this news release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">On May 5, 2025, Parkland and Sunoco LP (NYSE: SUN) (&#8220;Sunoco&#8221;) announced that they entered into a definitive agreement whereby Sunoco will acquire all outstanding shares of Parkland by way of a court-approved plan of arrangement (the &#8220;Plan of Arrangement&#8221;) in a cash and equity transaction valued at approximately U.S.$9.1 billion, including assumed debt (the &#8220;Transaction&#8221;).<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Non-GAAP financial measure or non-GAAP financial ratio. See &#8220;Non-GAAP Financial Measures and Ratios&#8221; section of this news release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(5)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Capital management measure. See &#8220;Capital Management Measures&#8221; section of this news release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(6)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Non-financial measure. See &#8220;Non-Financial Measures&#8221; section of this news release.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><b>Q3 2025 Segment Highlights<\/b><\/p>\n<ul type=\"disc\">\n<li><span class=\"xn-location\">Canada<\/span> delivered Adjusted EBITDA of <span class=\"xn-money\">$208 million<\/span>, compared to <span class=\"xn-money\">$196 million<\/span> in Q3 2024, driven by stronger fuel unit margins from continued price and supply optimization. Results were partially offset by softer retail demand in our company-owned network, which is reflected in our Company same-store volume growth (&#8220;Company\u00a0SSVG&#8221;)<sup>6<\/sup>\u00a0of (2.3) percent. Food and Company C-Store same-store sales growth (&#8220;Food and Company C-Store SSSG&#8221;)<sup>4<\/sup> excluding cigarettes was 4.1 percent, reflecting continued growth in alcohol and packaged beverages driven by successful marketing initiatives through our loyalty program.<\/li>\n<li>International delivered Adjusted EBITDA of <span class=\"xn-money\">$161 million<\/span>, compared to <span class=\"xn-money\">$150 million<\/span> in Q3 2024, reflecting strong volume growth in both the retail and commercial businesses.<\/li>\n<li><span class=\"xn-location\">USA<\/span> delivered Adjusted EBITDA of <span class=\"xn-money\">$28 million<\/span>, compared to <span class=\"xn-money\">$52 million<\/span> in Q3 2024, driven by lower fuel unit margins due to an ongoing competitive pricing environment and reduced rail and regional arbitrage opportunities.\u00a0<\/li>\n<li>Refining delivered Adjusted EBITDA of <span class=\"xn-money\">$151 million<\/span>, compared to <span class=\"xn-money\">$48 million<\/span> in Q3 2024, driven by higher refining margins combined with strong composite utilization<sup>6<\/sup> of 103.1 percent.<\/li>\n<\/ul>\n<p><b>Update on the Sunoco Transaction<\/b><\/p>\n<p>Parkland announced that the Transaction is expected to close on <span class=\"xn-chron\">October 31, 2025<\/span>, subject to the satisfaction or waiver of customary closing conditions. Following completion of the Transaction, Parkland shares will be delisted from the Toronto Stock Exchange.<\/p>\n<p>Common Units representing limited liability company interests in SunocoCorp (&#8220;SunocoCorp Units&#8221;), to be issued to shareholders of Parkland in connection with the Transaction, are expected to begin trading on the New York Stock Exchange on <span class=\"xn-chron\">November 3, 2025<\/span> under the ticker symbol &#8220;SUNC&#8221;.<\/p>\n<p>Parkland also announced the preliminary results of the elections in respect of the consideration received pursuant to the Transaction. Based on the elections received by the election deadline of <span class=\"xn-chron\">October 17, 2025<\/span>:<\/p>\n<ul type=\"disc\">\n<li>Parkland shareholders holding approximately 94,964,700 Parkland shares elected the all-cash consideration,<\/li>\n<li>Parkland shareholders holding approximately 9,734,800 Parkland shares elected the all\u00a0SunocoCorp Unit consideration; and<\/li>\n<li>Parkland shareholders holding approximately 69,911,000 Parkland shares elected, or were deemed to have elected, a combination of cash and\u00a0SunocoCorp Unit consideration.<\/li>\n<\/ul>\n<p>The all-cash elected consideration and all SunocoCorp Unit elected consideration are subject to proration, maximum amounts and adjustments in accordance with the Plan of Arrangement.<\/p>\n<p>Due to the pending closing of the Transaction, Parkland will not host a conference call or webcast to discuss its third quarter results.<\/p>\n<p><b>Consolidated Financial Overview<\/b><\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Three months ended\u00a0<br \/>September 30,\u00a0<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Financial Summary<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2025<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Sales and operating revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>7,353<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7,126<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>540<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">431<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Canada<sup>(2)(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>208<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">196<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\"><span class=\"prnews_span\">International<sup>(2)(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>161<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">150<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\"><span class=\"prnews_span\">USA<sup>(2)(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>28<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">52<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Refining<sup>(2)(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>151<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">48<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u00a0 \u00a0Corporate<sup>(2)(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(8)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(15)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net earnings (loss)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>129<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">91<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net earnings (loss) per share \u2013 basic ($ per share)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>0.74<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.52<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net earnings (loss) per share \u2013 diluted ($ per share)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>0.73<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.52<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Trailing twelve months (&#8220;TTM&#8221;) Cash generated from (used in) operating activities<sup>(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>1,646<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,490<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">TTM Cash generated from (used in) operating activities per share<sup>(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>9.45<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8.51<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">TTM Available cash flow<sup>(5)(6)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>668<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">627<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">TTM Available cash flow per share<sup>(5)(6)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>3.83<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.58<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">TTM ROIC<sup>(6)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>8.5\u00a0%<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7.8\u00a0%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total of segments measure. See &#8220;Measures of Segment Profit (Loss) and Total of Segments Measures&#8221; section of this news release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(<\/sup><sup>2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">For comparative purposes,\u00a0 certain amounts certain amounts in 2024 were revised to conform to the presentation used in the current period with respect to the allocation of Corporate costs. See Note 2d of the Interim Condensed Consolidated Financial Statements for further details<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Measure of segment profit (loss). See &#8220;Measures of Segment Profit (Loss) and Total of Segments Measures&#8221; section of this news release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Supplementary financial measure. See &#8220;Supplementary Financial Measures&#8221; section of this news release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(5)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">For comparative purposes, certain amounts were reclassified between realized and unrealized gain\/(loss) on risk management with no changes to Adjusted EBITDA or net earnings to conform to the presentation used in the current period.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(6)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Non-GAAP financial measure or non-GAAP financial ratio. See &#8220;Non-GAAP Financial Measures and Ratios&#8221; section of this news release.\u00a0 \u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><b>MD&amp;A and Annual Consolidated Financial Statements<\/b><\/p>\n<p>The Management&#8217;s Discussion and Analysis for the three and nine months ended <span class=\"xn-chron\">September 30, 2025<\/span> (the &#8220;Q3 2025 MD&amp;A&#8221;) and Interim Condensed Consolidated Financial Statements for the three and nine months ended <span class=\"xn-chron\">September 30, 2025<\/span> (the &#8220;Q3 2025 Condensed Consolidated Financial Statements&#8221;) provide a detailed explanation of Parkland&#8217;s operating results for the three and nine months ended <span class=\"xn-chron\">September 30, 2025<\/span>. An English version of these documents will be available online at <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4541405-1&amp;h=1100833913&amp;u=https%3A%2F%2Fwww.parkland.ca%2F&amp;a=www.parkland.ca\" target=\"_blank\" rel=\"nofollow\">www.parkland.ca<\/a> and the System for Electronic Data Analysis and Retrieval+ (&#8220;SEDAR+&#8221;) after the results are released by newswire under Parkland&#8217;s profile at <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4541405-1&amp;h=2131816395&amp;u=https%3A%2F%2Fwww.sedarplus.ca%2F&amp;a=www.sedarplus.ca\" target=\"_blank\" rel=\"nofollow\">www.sedarplus.ca<\/a>. The French versions of the Q3 2025 MD&amp;A and the Q3 2025\u00a0Condensed Consolidated Financial Statements will be posted to <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4541405-1&amp;h=1100833913&amp;u=https%3A%2F%2Fwww.parkland.ca%2F&amp;a=www.parkland.ca\" target=\"_blank\" rel=\"nofollow\">www.parkland.ca<\/a> and SEDAR+ as soon as they become available.<\/p>\n<p><b>About Parkland Corporation<\/b><\/p>\n<p>Parkland is a leading international fuel distributor, marketer, and convenience retailer with safe and reliable operations in twenty-six 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&#8217; 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 <span class=\"xn-location\">Canada<\/span>, <span class=\"xn-location\">the United States<\/span> and the <span class=\"xn-location\">Caribbean<\/span> region, we have developed supply, distribution and trading capabilities to accelerate growth and business performance.<\/p>\n<p>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.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>Certain statements contained herein constitute forward-looking information and statements (collectively, &#8220;forward-looking statements&#8221;). When used the words &#8220;expect&#8221;, &#8220;will&#8221;, &#8220;could&#8221;, &#8220;would&#8221;, &#8220;believe&#8221;, &#8220;continue&#8221;, &#8220;pursue&#8221;, &#8220;on track&#8221;, &#8220;aim&#8221; 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: business strategies, objectives and initiatives; expectation to remain on track to achieve midpoint of 2025 Adjusted EBITDA Guidance range; Parkland&#8217;s ability to achieve 2025 guidance; the combined company&#8217;s ability to deliver significant synergies and long-term value to stakeholders; and the Transaction, including the completion and timing thereof, and expectations respecting the trading of the SunocoCorp Units.<\/p>\n<p>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 obligation to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to: the completion of the Transaction, including the timing thereof and realizing the benefits resulting therefrom; Parkland&#8217;s ability to successfully integrate its operations with Sunoco following the Transaction; 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&#8217;s ability to execute its business objectives, projects and strategies, including the completion, financing and timing thereof, realizing the benefits therefrom, meeting our targets, outlook and commitments relating thereto, and the impact of the Transaction thereon; ability to remain on track to achieve the midpoint of 2025 Adjusted EBITDA Guidance range and achieve its 2025 guidance and the assumptions relating thereto; and other factors, many of which are beyond the control of Parkland and the assumptions and risks described in &#8220;Cautionary Statement Regarding Forward-Looking Information&#8221; and &#8220;Risk Factors&#8221; included in Parkland&#8217;s most recently filed Annual Information Form, and in &#8220;Forward-Looking Information&#8221; and &#8220;Risk Factors&#8221; in the Q4 2024 MD&amp;A, each as filed on SEDAR+ and available on the Parkland website at <a href=\"http:\/\/www.parkland.ca\" rel=\"nofollow\">www.parkland.ca<\/a>. In addition, the 2025 Adjusted EBITDA Guidance reflects continued integration of acquired businesses and synergy capture, and progression of organic growth initiatives, and key material assumptions include: market trends in line with Parkland&#8217;s current expectations; expected performance from Parkland&#8217;s combined retail and commercial lines of business during the 2025 financial year that is consistent with the prior year; Burnaby Refinery composite utilization of 90 to 95% based on the Burnaby Refinery&#8217;s crude processing capacity of 55,000 bpd, and completion of planned maintenance, including deferral of the previously planned turnaround to 2026; and implementation of ongoing cost reductions across the business. The forward-looking statements contained in this news release are expressly qualified by these cautionary statements.<\/p>\n<p><b>Specified Financial Measures<\/b><\/p>\n<p>This news release contains total of segments measures, non-GAAP financial measures and non-GAAP financial ratios, supplementary financial measures and capital management measures (collectively, &#8220;specified financial measures&#8221;). Parkland&#8217;s management uses certain specified financial measures to analyze the operating and financial performance, leverage, and liquidity of the business. These specified financial measures do not have any standardized meaning under International Financial Reporting Standards as issued by the International Accounting Standards Board (&#8220;IFRS Accounting Standards&#8221;) and are therefore unlikely to be comparable to similar measures presented by other companies. The specified financial measures should not be considered in isolation or used in substitute for measures of performance prepared in accordance with the IFRS Accounting Standards. <span class=\"xn-person\">See Section<\/span> 15 of the Q3 2025 MD&amp;A, which is incorporated by reference into this news release, for further details regarding specified financial measures used by Parkland.<\/p>\n<p><i>Non-GAAP Financial Measures and Ratios<\/i><\/p>\n<p>Adjusted earnings (loss) is a non-GAAP financial measure and Adjusted earnings (loss) per share is a non-GAAP financial ratio, each representing the underlying core operating performance of business activities of Parkland at a consolidated level. The most directly comparable financial measure to Adjusted earnings (loss) and Adjusted earnings (loss) per share is Net earnings (loss).<\/p>\n<p>Adjusted earnings (loss) and Adjusted earnings (loss) per share represent how well Parkland&#8217;s operational business is performing, while considering depreciation and amortization, interest on leases and long-term debt, accretion and other finance costs, and income taxes. The Company uses these measures because it believes that Adjusted earnings (loss) and Adjusted earnings (loss) per share are useful for management and investors in assessing the Company&#8217;s overall performance, as they exclude certain items that are not reflective of the Company&#8217;s underlying business operations.<\/p>\n<p><span class=\"xn-person\">See Section<\/span> 15 of the Q3 2025 MD&amp;A, which is incorporated by reference into this news release, for the detailed definition and composition of Adjusted earnings (loss) and Adjusted earnings (loss) per share.<\/p>\n<p>Please see below for the reconciliation of Adjusted earnings (loss) to net earnings (loss) and the calculation of Adjusted earnings (loss) per share.<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Three months ended <br \/>September\u00a030,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Nine months ended <br \/>September\u00a030,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise stated)<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2025<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2025<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net earnings (loss)<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>129<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">91<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>365<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">156<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Add\/(less):<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Acquisition, integration and other costs<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>22<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">61<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>97<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">137<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\"><span class=\"prnews_span\">(Gain) loss on foreign exchange \u2013 unrealized<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>7<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(2)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\"><span class=\"prnews_span\">(Gain) loss on risk management and other \u2013 unrealized<sup>(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(3)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(48)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(51)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Costs related to the Sunoco Transaction<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>38<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>84<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Other (gains) and losses<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(4)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(93)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Other adjusting items<sup>(1)(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>8<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>19<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">33<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Tax normalization<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(17)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(5)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(16)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(48)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted earnings (loss)<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>180<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">106<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>403<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">305<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Weighted average number of common shares (million shares)<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>175<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">174<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>174<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">175<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Weighted average number of common shares adjusted for the effects of dilution (million shares)<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>177<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">176<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>176<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">177<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted earnings (loss) per share ($ per share)<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Basic<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>1.03<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.61<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2.31<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.74<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>1.02<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.60<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2.29<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.72<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other adjusting items for the three months ended September 30, 2025, include: (i) the share of depreciation, income taxes and other adjustments for investments in joint ventures and associates of $8 million (2024 &#8211; $4 million); (ii) other income of $3 million (2024 &#8211; $3 million); and (iii) realized gains and losses on risk management and other assets and liabilities related to underlying physical sales activity in another period of $3 million gain (2024 &#8211; nil). Other adjusting items for the nine months ended September 30, 2025, include: (i) the share of depreciation, income taxes and other adjustments for investments in joint ventures and associates of $21 million (2024 &#8211; $11 million); (ii) other income of $6 million (2024 &#8211; $8 million); (iii) realized gains and losses on risk management and other assets and liabilities related to underlying physical sales activity in another period of $4 million gain (2024 &#8211; $12 million loss); (iv) adjustment to foreign exchange gains and losses related to cash pooling arrangements of $4 million gain (2024 &#8211; $4 million loss); and (v)\u00a0realized risk management gains related to interest rate swaps, as these gains do not relate to commodity sale and purchase transactions, of nil (2024 -$2 million gain).<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">The tax normalization adjustment was applied to net earnings (loss) adjusting items that were considered temporary differences, such as acquisition, integration and other costs, unrealized foreign exchange gains and losses, unrealized gains and losses on risk management and other, gains and losses on asset disposals, changes in fair value of redemption options, changes in estimates of environmental provisions, loss on inventory write-downs for which there are offsetting associated risk management derivatives with unrealized gains,\u00a0 impairments of non-current assets and costs related to the Sunoco Transaction. The tax impact was estimated using the effective tax rates applicable to jurisdictions where the related items occur.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Weighted average number of common shares is calculated in accordance with Parkland&#8217;s accounting policy contained in Note 2 of the Annual\u00a0 Consolidated Financial Statements.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">For comparative purposes, certain amounts were reclassified between realized and unrealized gain\/(loss) on risk management with no changes to\u00a0 Adjusted earnings (loss) to conform to the presentation used in the current period.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Available cash flow is a non-GAAP financial measure and Available cash flow per share is a non-GAAP financial ratio. The most directly comparable financial measure for Available cash flow and Available cash flow per share is cash generated from (used in) operating activities. Parkland uses these measures to set targets (including annual guidance and variable compensation target) and monitor its ability to generate cash flow for capital allocation, including distributions to shareholders, investment in the growth of the business, and deleveraging. <span class=\"xn-person\">See Section<\/span> 15 of the Q3 2025 MD&amp;A, which is incorporated by reference into this news release, for the detailed definition and composition of Available cash flow and Available cash flow per share. See the following table for a calculation of historical Available cash flow and Available cash flow per share and a reconciliation to cash generated from (used in) operating activities.\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"4\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended<\/span><\/p>\n<\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Trailing twelve<br \/>months ended <br \/><\/b><b>September 30, <br \/>2025<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">December <br \/>31,\u00a02024<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">March 31, <br \/>2025<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">June 30, <br \/>2025<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30, <br \/>2025<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Cash generated from (used in) operating activities<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">462<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">286<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">502<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">396<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>1,646<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Reverse: Change in other assets and other liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">80<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(7)<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">22<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>96<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Reverse: Net change in non-cash working capital related to operating activities<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(180)<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">53<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(87)<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">42<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(172)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Maintenance capital expenditures<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(96)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(62)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(70)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(56)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(284)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Dividends received from investments in associates and joint ventures<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>21<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Interest on leases and long-term debt<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(87)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(89)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(83)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(82)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(341)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Payments of principal amount on leases <\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(76)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(77)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(74)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(71)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(298)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Available cash flow<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">110<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">117<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">187<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">254<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>668<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Weighted average number of common shares (millions)<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>174<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">TTM Available cash flow per share<\/span><\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>3.83<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"4\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prnpr4 prnpl2 prnnbbs prnnbls prnnbrs prnvab prntar\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"4\" rowspan=\"1\"><\/td>\n<td class=\"prnpr4 prnpl2 prndbbst prnnbls prnnbrs prnvab prntar\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"4\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended<\/span><\/p>\n<\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Trailing twelve<br \/>months ended <br \/>September 30, <br \/>2024<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">December <br \/>31,\u00a02023<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">March 31, <br \/>2024 <sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">June 30, <br \/>2024<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30, <br \/>2024<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Cash generated from (used in) operating activities<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">417<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">217<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">450<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">406<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,490<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Reverse: Change in other assets and other liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">28<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(68)<\/span><\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(41)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Reverse: Net change in non-cash working capital related to operating activities<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">17<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">55<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(34)<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">21<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">59<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Maintenance capital expenditures<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(93)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(59)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(53)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(71)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(276)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Dividends received from investments in associates and joint ventures<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">16<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Interest on leases and long-term debt<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(88)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(85)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(88)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(85)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(346)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Payments on principal amount on leases<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(71)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(71)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(64)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(69)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(275)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Available cash flow<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">181<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">87<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">222<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">137<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">627<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Weighted average number of common shares (millions)<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">175<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">TTM Available cash flow per share<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.58<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">For comparative purposes, certain amounts within the net change in non-cash working capital related to operating activities for the three months ended March 31, 2024, were revised to conform to the current period presentation.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Weighted average number of common shares is calculated in accordance with Parkland&#8217;s accounting policy contained in Note 2 of the Annual Consolidated Financial Statements.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>ROIC is a non-GAAP financial ratio. The measure is calculated as a ratio of Net operating profit after tax (&#8220;NOPAT&#8221;) divided by average invested capital. NOPAT describes the profitability of Parkland&#8217;s base operations, excluding the impact of leverage and certain other items of income and expenditure that are not considered representative of Parkland&#8217;s underlying core operating performance. NOPAT is based on Adjusted EBITDA, defined in the &#8220;Measures of Segment Profit (Loss) and Total of Segments Measures&#8221; section of this news release, less depreciation and amortization expense,\u00a0 including pro-forma depreciation on assets classified as held for sale, and the estimated tax expense using the expected average tax rate estimated using statutory tax rates in each jurisdiction where Parkland operates. Average invested capital is the amount of capital deployed by Parkland that represents the average of opening and closing debt, including debt liabilities classified as held for sale, as well as shareholder&#8217;s equity, including equity reserves, net of cash and cash equivalents. We use this non-GAAP measure to assess Parkland&#8217;s efficiency in investing capital.\u00a0\u00a0\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"4\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>ROIC<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">December <br \/>31, 2024<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">March 31, <br \/>2025<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">June 30, <br \/>2025<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September <br \/>30,\u00a02025<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Trailing twelve<br \/>months <\/b><b>ended<br \/>September 30,\u00a0<br \/>2025<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net earnings (loss)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(29)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">64<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">172<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">129<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>336<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Add\/(less):<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Income tax expense (recovery)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(8)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">39<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">39<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>78<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Acquisition, integration and other costs<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">81<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">29<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">46<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">22<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>178<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Depreciation and amortization<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">210<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">202<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">220<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">213<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>845<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Finance cost<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">92<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">99<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">93<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">91<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>375<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">(Gain) loss on foreign exchange &#8211; unrealized<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(5)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(4)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">(Gain) loss on risk management and other &#8211; unrealized\u00a0 \u00a0 \u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">34<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(51)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(17)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Costs related to the Sunoco Transaction<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">46<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">38<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>84<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Other (gains) and losses<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">30<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(19)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(70)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(63)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Other adjusting items<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">20<\/span><\/p>\n<\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(6)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">17<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>39<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted EBITDA<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">428<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">375<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">508<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">540<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>1,851<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less: Depreciation and amortization<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(210)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(202)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(220)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(213)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(845)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less: Pro-forma depreciation and amortization on <br \/>assets classified as held for sale<\/span><\/p>\n<\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(7)<\/span><\/p>\n<\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(7)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">14<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>\u2014<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted EBIT<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">211<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">166<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">302<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">327<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>1,006<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Average effective tax rate<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>21.9\u00a0%<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less: Taxes<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(220)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net operating profit after tax<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>786<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Opening invested capital<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>9,306<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Closing invested capital<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>9,280<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Average invested capital<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>9,293<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Return on invested capital<\/span><\/p>\n<\/td>\n<td class=\"prngen29\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen29\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen29\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen29\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>8.5\u00a0%<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnpr10 prnpl2 prnvab prntal prnsbtb1 prnrbrb1 prnsbbb1 prnsblb1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen31 prntar\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen5\" colspan=\"5\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Invested Capital<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>September 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"5\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2025<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"5\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Long-term debt &#8211; current portion<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>848<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">220<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"5\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Long-term debt<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>5,569<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6,104<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"5\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Long-term debt in liabilities classified as held for sale<sup>(1)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">181<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"5\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Shareholders&#8217; equity<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>3,267<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3,164<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"5\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Exclude: Cash and cash equivalents<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(406)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(363)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"5\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>9,280<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9,306<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\" colspan=\"5\" rowspan=\"1\"><\/td>\n<td class=\"prngen34\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\" colspan=\"5\" rowspan=\"1\"><\/td>\n<td class=\"prngen34\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table id=\"splitTable\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"5\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>ROIC<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">December <br \/>31,\u00a02023<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">March 31,<br \/>2024<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">June 30,<br \/>2024<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September <br \/>30,\u00a02024<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Trailing twelve<br \/>months ended<br \/>September\u00a030,\u00a0<br \/>2024<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net earnings (loss)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">86<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(5)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">70<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">91<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">242<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Add\/(less):<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Income tax expense (recovery)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(15)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(29)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">20<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">17<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(7)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Acquisition, integration and other costs<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">42<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">30<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">46<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">61<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">179<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Depreciation and amortization<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">222<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">206<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">202<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">207<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">837<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Finance cost<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">89<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">91<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">99<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">96<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">375<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">(Gain) loss on foreign exchange &#8211; unrealized<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">(Gain) loss on risk management and other &#8211; unrealized<sup>(2)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">28<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">56<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(48)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">39<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Other (gains) and losses<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">10<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">13<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Other adjusting items<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">18<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">39<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted EBITDA<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">463<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">327<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">504<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">431<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,725<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less: Depreciation and amortization<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(222)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(206)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(202)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(207)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(837)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted EBIT<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">241<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">121<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">302<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">224<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">888<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Average effective tax rate<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen17\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">19.0\u00a0%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less: Taxes<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen28\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(169)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net operating profit after tax<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">719<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Opening invested capital<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9,238<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Closing invested capital<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9,306<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Average invested capital<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9,272<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Return on invested capital<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen12\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7.8\u00a0%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnpr10 prnpl2 prnvab prnsbtb1 prnrbrb1 prnsbbb1 prnsblb1\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Invested Capital<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30,<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2023<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Long-term debt &#8211; current portion<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">220<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">180<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Long-term debt<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6,104<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6,227<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Long-term debt in liabilities classified as held for sale<sup>(1)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">181<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Shareholders&#8217; equity<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3,164<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3,259<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Exclude: Cash and cash equivalents<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(363)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(428)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9,306<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9,238<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">For comparative purposes, long-term debt in liabilities classified as held for sale were included as part of invested capital as at September 30, 2024, to\u00a0conform to the current period presentation.\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">For comparative purposes, certain amounts were reclassified between realized and unrealized gain\/(loss) on risk management for the three months\u00a0ended March 31, 2024, with no changes to Adjusted EBITDA.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Food and Company C-Store SSSG\u00a0is a non-GAAP financial ratio\u00a0and refers to the period-over-period sales growth generated by retail food and convenience stores at the same Company sites. The effects of opening and closing stores, temporary closures (including closures for On the Run \/ March\u00e9 Express conversions), expansions of stores, renovations of stores, and stores with changes in food service models in the period are excluded to derive a comparable same-store metric. Same-store sales growth is a metric commonly used in the retail industry that provides meaningful information to investors in assessing the health and strength of Parkland&#8217;s brands and retail network, which ultimately impacts financial performance. The most directly comparable financial measure to Food and Company C-Store SSSG is food and convenience store revenue within sales and operating revenue.<\/p>\n<p>Below is a reconciliation of convenience store revenue (Food and C-Store revenue) for the <span class=\"xn-location\">Canada<\/span> segment with the Food and Company C-Store same store sales (&#8220;SSS&#8221;), and the calculation of the Food and Company C-Store SSSG.\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Three months ended <br \/>September\u00a030,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Nine months ended <br \/>September\u00a030,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2025<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">%<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2025<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">%<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Food and Company C-Store revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>86<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">82<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>248<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">242<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Add:<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Point-of-sale (&#8220;POS&#8221;) value of goods and services sold at Food and Company C-Store operated by retailers and franchisees<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>313<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">312<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>876<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">891<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less:<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Rental and royalty income from retailers, franchisees and other<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(64)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(62)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(182)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(184)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Same Store revenue adjustments<sup>(4)<\/sup> (excluding cigarettes)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(15)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(14)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(41)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(38)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Food and Company C-Store same-store sales (including cigarettes)<\/span><\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>320<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">318<\/span><\/p>\n<\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.5\u00a0%<\/span><\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>901<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">911<\/span><\/p>\n<\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(1.2)\u00a0%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less:<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Same Store revenue adjustments<sup>(4)<\/sup> (cigarettes)<\/span><\/p>\n<\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(102)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(109)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(284)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(312)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Food and Company C-Store same-store sales (excluding cigarettes)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>218<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">209<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.1\u00a0%<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>617<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">599<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.7\u00a0%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen37\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"prngen37\" colspan=\"3\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen37\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"prngen37\" colspan=\"3\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended <br \/>September\u00a030,<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Nine months ended <br \/>September\u00a030,<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2023<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">%<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2023<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">%<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Food and Company C-Store revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">82<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">81<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">242<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">230<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Add:<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Point-of-sale (&#8220;POS&#8221;) value of goods and services sold at Food and Company C-Store operated by retailers<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">314<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">331<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">895<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">925<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less:<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Rental income from retailers and other<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(61)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(67)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(183)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(186)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Same Store revenue adjustments<sup>(4)(5)<\/sup> (excluding cigarettes)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(15)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(13)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(43)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(39)<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Food and Company C-Store same-store sales (including cigarettes)<\/span><\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">320<\/span><\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">332<\/span><\/p>\n<\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(3.8)\u00a0%<\/span><\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">911<\/span><\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">930<\/span><\/p>\n<\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(2.2)\u00a0%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less:<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Same Store revenue adjustments<sup>(4)(5)<\/sup> (cigarettes)<\/span><\/p>\n<\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(109)<\/span><\/p>\n<\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(118)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(309)<\/span><\/p>\n<\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(331)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Food and Company C-Store same-store sales (excluding cigarettes)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">211<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">214<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(1.1)\u00a0%<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">602<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">599<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.3\u00a0%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Percentages are calculated based on actual amounts and are impacted by rounding.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">POS values used to calculate Food and Company C-Store SSSG are not a Parkland financial measure and do not form part of Parkland&#8217;s consolidated financial statements, as Parkland earns rental income from retailers in the form of a percentage rent on convenience store sales. POS values are calculated based on the information obtained from Parkland&#8217;s POS systems at retail sites, including transactional data, such as sales, costs, and volumes, which are subject to internal controls over financial reporting. We also use this data to calculate rental income from retailers in the form of a percentage rent on convenience store sales, which is recorded as revenue in our consolidated financial statements.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Includes rental income from retailers in the form of a percentage rent on Food and Company C-Store sales, royalty, and franchisee fees and excludes revenues from automated teller machines, POS system licensing fees, and other.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">This adjustment excludes the effects of acquisitions, opening and closing stores, temporary closures (including closures for On the Run \/ March\u00e9\u00a0Express conversions), expansions of stores, renovations of stores, and stores with changes in food service models, to derive a comparable same-store\u00a0metric.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(5)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Excludes sales from acquisitions completed within the year as these will not impact the metric until after the completion of one year of the acquisitions when the sales or volume generated establishes the baseline for these metrics.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>These non-GAAP financial measures and ratios should not be considered in isolation or used in substitute for measures of performance prepared in accordance with IFRS Accounting Standards. Except as otherwise indicated, these non-GAAP financial measures and ratios are calculated and disclosed on a consistent basis from period to period. <span class=\"xn-person\">See Section<\/span> 15 of the Q3 2025 MD&amp;A, which is incorporated by reference into this news release, for further details regarding Parkland&#8217;s non-GAAP financial measures and ratios.<\/p>\n<p><i>Capital Management Measures<\/i><\/p>\n<p>Parkland&#8217;s primary capital management measure is the Leverage Ratio, which is used internally by key management personnel to monitor Parkland&#8217;s overall financial strength, capital structure flexibility, and ability to service debt and meet current and future commitments. In order to manage its financing requirements, Parkland may adjust capital spending or dividends paid to shareholders or issue new shares or new debt. The Leverage Ratio is calculated as a ratio of Leverage Debt to Leverage EBITDA and does not have any standardized meaning prescribed under IFRS Accounting Standards. It is, therefore, unlikely to be comparable to similar measures presented by other companies. The detailed calculation of the Leverage Ratio is as follows:\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prnpr2 prnpl2 prnvab prntal prncbts prnrbrb1 prnbbbs prnsblb1\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)<\/span><\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>September 30, 2025<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">December 31, 2024<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Leverage Debt<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>4,937<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5,268<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Leverage EBITDA<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>1,571<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,481<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Leverage Ratio<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>3.1<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.6<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>September 30, 2025<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">December 31, 2024<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Long-term debt<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>6,417<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6,641<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less:<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Lease obligations<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(1,091)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,054)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Cash and cash equivalents<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(406)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(385)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Non-recourse debt<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(73)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(30)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Risk management liability (asset)<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(10)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(30)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Add:<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Non-recourse cash<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>30<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">31<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\"><span class=\"prnews_span\">Letters of credit and other<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>70<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">95<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Leverage Debt<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>4,937<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5,268<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Represents non-recourse debt and non-recourse cash balance related to project financing.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Represents the risk management asset\/liability associated with the spot element of the cross-currency swap designated in a cash flow hedge relationship to hedge the variability of principal cash flows of the 2024 Senior Notes resulting from changes in the spot exchange rates.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"4\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended<\/span><\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Trailing twelve<br \/>months ended<\/b><br \/><b>September 30, 2025<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">December 31,<br \/>2024<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">March 31,<br \/>2025<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">June 30,<br \/>2025<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30,<br \/>2025<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted EBITDA<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">428<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">375<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">508<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">540<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>1,851<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Share incentive compensation<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>33<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Reverse: IFRS 16 impact<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(91)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(93)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(90)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(87)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(361)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">348<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">290<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">425<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">460<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>1,523<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Acquisition pro-forma adjustment<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other adjustments<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>46<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Leverage EBITDA<\/span><\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>1,571<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Includes the impact of operating leases prior to the adoption of IFRS 16, previously recognized under operating costs, which aligns with management&#8217;s\u00a0view of the impact of earnings.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Includes the impact of pro-forma pre-acquisition EBITDA estimates based on anticipated benefits, costs and synergies from acquisitions.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Includes adjustments to normalize Adjusted EBITDA for non-recurring events relating to the unplanned shutdown at the Burnaby Refinery, completion\u00a0of turnarounds at the Burnaby Refinery and the EBITDA attributable to EV charging operations financed through non-recourse project financing.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prnpr4 prnpl2 prnvab prncbts prnrbrb1 prnsbbb1 prnsblb1\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"4\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended<\/span><\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Trailing twelve<br \/>months ended<br \/>December 31, 2024<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">March 31,<br \/>2024<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">June 30,<br \/>2024<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September <br \/>30,\u00a02024<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">December <br \/>31,\u00a02024<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted EBITDA<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">327<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">504<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">431<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">428<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,690<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Share incentive compensation<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">31<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Reverse: IFRS 16 impact<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(83)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(80)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(84)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(91)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(338)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnpr4 prnpl2 prnvab prnsbtb1 prnrbrb1 prnsbbb1 prnsblb1\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">250<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">432<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">353<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">348<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,383<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Acquisition pro-forma adjustment<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other adjustments<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">87<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Leverage EBITDA<\/span><\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,481<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Includes the impact of operating leases prior to the adoption of IFRS 16, previously recognized under operating costs, which aligns with management&#8217;s view of the impact of earnings.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Includes the impact of pro-forma pre-acquisition EBITDA estimates based on anticipated benefits, costs and systems from acquisitions.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Includes adjustments to normalize Adjusted EBITDA for non-recurring events relating to the unplanned shutdowns at the Burnaby Refinery and the\u00a0EBITDA attributable to EV charging operations financed through non-recourse project financing.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><i>Measures of Segment Profit (Loss) and Total of Segments Measures<\/i><\/p>\n<p>Adjusted earnings (loss) before interest, taxes, depreciation and amortization (&#8220;Adjusted EBITDA&#8221;) is a measure of segment profit (loss) and its aggregate is a total of segments measure used by the chief operating decision maker to make decisions about resource allocation to the segment and to assess its performance. In accordance with IFRS Accounting Standards, adjustments and eliminations made in preparing an entity&#8217;s financial statements and allocations of revenue, expenses, and gains or losses shall be included in determining reported segment profit (loss) only if they are included in the measure of the segment&#8217;s profit (loss) that is used by the chief operating decision maker. As such, Parkland&#8217;s Adjusted EBITDA is unlikely to be comparable to measures of segment profit (loss) presented by other issuers, who may calculate these measures differently. Parkland views Adjusted EBITDA as the key measure for the underlying core operating performance of business segment activities at an operational level. Adjusted EBITDA is used by management to set targets for Parkland (including annual guidance and variable compensation targets) and is used to determine Parkland&#8217;s ability to service debt, finance capital expenditures and provide for dividend payments to shareholders. <span class=\"xn-person\">See Section<\/span> 15 of the Q3 2025 MD&amp;A, which is incorporated by reference into this news release, for the detailed definition and composition of Adjusted EBITDA. Refer to the table below for the reconciliation of Adjusted EBITDA to net earnings (loss), which is the most directly comparable financial measure, for the three and nine months ended <span class=\"xn-chron\">September 30, 2025<\/span> and September\u00a030, 2024.<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prnpr4 prnpl2 prnvab prntal prncbts prnrbrb1 prnsbbb1 prnsblb1\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Three months ended<br \/><\/b><b>September 30,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Nine months ended<br \/>September 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions)<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2025<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2025<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>540<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">431<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>1,423<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,262<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less\/(add):<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Acquisition, integration and other costs<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>22<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">61<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>97<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">137<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Depreciation and amortization<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>213<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">207<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>635<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">615<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Finance costs<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>91<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">96<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>283<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">286<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">(Gain) loss on foreign exchange \u2013 unrealized<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>7<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(2)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">(Gain) loss on risk management and other \u2013 unrealized<sup>(4)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(3)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(48)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(51)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Costs related to the Sunoco Transaction<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>38<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>84<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Other (gains) and losses<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(4)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(93)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Other adjusting items<sup>(3)(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>8<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>19<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">33<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Income tax expense (recovery) <\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>39<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">17<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>86<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net earnings (loss)<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>129<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">91<\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>365<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">156<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total of segments measure. See Section 15 of the Q3 MD&amp;A.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u00a0<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other (gains) and losses for the three months ended September 30, 2025, include: (i) $3 million gain (2024 &#8211; $24 million loss) in others; (ii) $3 million (2024 &#8211; $3 million) in other income; (iii) $1 million non-cash valuation loss (2024 &#8211; $5 million loss) due to the change in estimates of environmental provisions; (iv) $1 million loss (2024 &#8211; $2 million gain) on disposal of assets; and (v) nil non-cash valuation (2024 &#8211; $25 million gain) due to change in fair value of redemption options. Other (gains) and losses for the nine months ended September 30, 2025, include: (i) $76 million non-cash valuation gain (2024 &#8211; $1 million gain) due to change in fair value of redemption options; (ii) $10 million (2024 &#8211; $8 million) in other income; (iii) $3 million gain (2024 -$33 million loss) in others; (iv) $3 million non-cash valuation gain (2024 &#8211; $11 million gain) due to the change in estimates of environmental provisions; and (v) $1 million gain (2024 &#8211; $5 million gain) on disposal of assets.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u00a0<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other adjusting items for the three months ended September 30, 2025, include: (i)\u00a0 the share of depreciation, income taxes and other adjustments for investments in joint ventures and associates of $8 million (2024 &#8211; $4 million); (ii) other income of $3 million (2024 &#8211; $3 million); and (iii) realized gains and losses on risk management and other assets and liabilities related to underlying physical sales activity in another period of $3 million gain (2024 &#8211; nil). Other adjusting items for the nine months ended September 30, 2025, include: (i) the share of depreciation, income taxes and other adjustments for investments in joint ventures and associates of $21 million (2024 &#8211; $11 million); (ii) other income of $6 million (2024 &#8211; $8 million); (iii) realized gains and losses on risk management and other assets and liabilities related to underlying physical sales activity in another period of $4 million gain (2024 &#8211; $12 million loss); (iv) adjustment to foreign exchange gains and losses related to cash pooling arrangements of $4 million gain (2024 &#8211; $4 million loss); and (v)\u00a0realized risk management gains related to interest rate swaps, as these gains do not relate to commodity sale and purchase transactions, of nil (2024 -$2 million gain).<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">For comparative purposes, certain amounts were reclassified between realized and unrealized gain\/(loss) on risk management for the nine months ended September 30, 2024, with no changes to Net earnings (loss).<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><i>Supplementary Financial Measures<\/i><\/p>\n<p>Parkland uses a number of supplementary financial measures, including TTM Cash generated from (used in) operating activities, TTM Cash generated from (used in) operating activities per share, liquidity available and Adjusted EBITDA Guidance and Capital Expenditure Guidance, to evaluate the success of our strategic objectives. These measures may not be comparable to similar measures presented by other issuers, as other issuers may calculate these measures differently. <span class=\"xn-person\">See Section<\/span> 15 of the Q3 2025 MD&amp;A, which is incorporated by reference into this news release, for further details regarding supplementary financial measures used by Parkland, including the composition of such measures.<\/p>\n<p><b>Non-Financial Measures<\/b><\/p>\n<p>Parkland uses a number of non-financial measures, including Company SSVG, composite utilization and total recordable injury frequency rate, to measure the success of our strategic objectives and to set variable compensation targets for employees, where applicable. These non-financial measures are not accounting measures, do not have comparable IFRS Accounting Standards measures, and may not be comparable to similar measures presented by other issuers, as other issuers may calculate these metrics differently. <span class=\"xn-person\">See Section<\/span> 15 of the Q3 2025 MD&amp;A, which is incorporated by reference into this news release, for further details on the non-financial measures used by Parkland.<\/p>\n<p>SOURCE  Parkland Corporation<\/p>\n<\/div>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p class=\"prntac\"><i>Strong third quarter Adjusted EBITDA<sup>1<\/sup> of <span class=\"xn-money\">$540 million<\/span><\/i><\/p>\n<p class=\"prntac\"><i>On track to deliver midpoint of 2025 Adjusted EBITDA Guidance<sup>2<\/sup> of <span class=\"xn-money\">$1.8<\/span> to <span class=\"xn-money\">$2.1 billion<\/span><\/i><\/p>\n<p class=\"prntac\"><i>Sunoco Transaction<sup>3<\/sup> expected to close on <span class=\"xn-chron\">October 31, 2025<\/span><\/i><\/p>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">CALGARY, AB<\/span><\/span>, <span class=\"legendSpanClass\">&lt;span&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-273191","post","type-post","status-publish","format-standard","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/273191","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=273191"}],"version-history":[{"count":"1","href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/273191\/revisions"}],"predecessor-version":[{"id":273310,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/273191\/revisions\/273310"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=273191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=273191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=273191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}