{"id":98396,"date":"2022-03-08T16:41:00","date_gmt":"2022-03-03T21:24:00","guid":{"rendered":"https:\/\/hispanicprwire.com\/english-parkland-delivers-strong-2021-results-led-by-record-marketing-performance-increases-dividend-and-2022-guidance\/"},"modified":"2022-03-08T17:50:02","modified_gmt":"2022-03-08T21:50:02","slug":"parkland-obtiene-solidos-resultados-en-2021-impulsados-por-un-desempeno-record-de-marketing-aumenta-el-dividendo-y-la-prevision-para-2022","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/parkland-obtiene-solidos-resultados-en-2021-impulsados-por-un-desempeno-record-de-marketing-aumenta-el-dividendo-y-la-prevision-para-2022\/","title":{"rendered":"Parkland delivers strong 2021 results led by record marketing performance; increases dividend and 2022 Guidance"},"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.prngen26{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:1.17em\n}\n.prngen5{\nBORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:0.50em\n}\n.prngen11{\nBORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:0.67em\n}\n.prngen20{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:1.17em\n}\n.prngen22{\nBORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt; TEXT-ALIGN: CENTER; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:0.50em\n}\n.prngen32{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: CENTER; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen21{\nBORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt; TEXT-ALIGN: CENTER; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:1.17em\n}\n.prngen13{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen6{\nBORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt; TEXT-ALIGN: CENTER; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:0.67em\n}\n.prngen4{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt; TEXT-ALIGN: CENTER; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:0.50em\n}\n.prngen15{\nBORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:0.50em\n}\n.prngen14{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen9{\nBORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:0.50em\n}\n.prngen24{\nBORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:0.83em\n}\n.prngen8{\nBORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:0.67em\n}\n.prngen17{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen30{\nBORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:1.17em\n}\n.prngen3{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:0.50em\n}\n.prngen12{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen10{\nBORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:0.50em\n}\n.prngen29{\nBORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:0.83em\n}\n.prngen7{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:0.67em\n}\n.prngen23{\nBORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt; PADDING-RIGHT:1.17em\n}\n.prngen2{\nBORDER-TOP:0pt; BORDER-RIGHT:0pt; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt; BORDER-LEFT:0pt\n}\n.prngen1{\nBORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnsblb1{\nBORDER-LEFT:black 1pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnsbts{\nBORDER-TOP:black 1pt solid\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prnrbrb1{\nBORDER-RIGHT:black 1pt\n}\n.prnpr4{\nPADDING-RIGHT:0.33em\n}\n.prnsbbb1{\nBORDER-BOTTOM:black 1pt\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnml4{\nMARGIN-LEFT:0.33em; MARGIN-TOP:0em; MARGIN-BOTTOM:0em\n}\n.prnml10{\nMARGIN-LEFT:0.83em; MARGIN-TOP:0em; MARGIN-BOTTOM:0em\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">CALGARY, AB<\/span>, <span class=\"xn-chron\">March 3, 2022<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0Parkland Corporation (&#8220;Parkland&#8221;, &#8220;we&#8221;, the &#8220;Company&#8221;, or &#8220;our&#8221;) (TSX:PKI), a leading food and convenience store operator, independent supplier and marketer of fuel and petroleum products and leader in renewable energy, announced today its financial and operating results for the three months and year ended <span class=\"xn-chron\">December 31, 2021<\/span>, increased its 2022 Guidance and announced it is raising its annual dividend for the tenth consecutive year. Highlights include:<\/p>\n<p><b><i>Q4 2021 Highlights<\/i><\/b><\/p>\n<ul type=\"disc\">\n<li>Adjusted EBITDA attributable to Parkland (&#8220;Adjusted EBITDA&#8221;)<sup>1<\/sup> of <span class=\"xn-money\">$260 million<\/span> reflects record performance in all our marketing segments. We estimate an approximately <span class=\"xn-money\">$35 million<\/span> negative impact on Adjusted EBITDA from\u00a0the <span class=\"xn-location\">British Columbia<\/span> floods, which required the shutdown of the Transmountain Pipeline and led to a pause in refinery processing operations.<sup>2<\/sup><\/li>\n<li>Net earnings attributable to Parkland (&#8220;net earnings&#8221;) of <span class=\"xn-money\">$23 million<\/span>, or <span class=\"xn-money\">$0.15<\/span> per share, basic, a decrease of 57 percent from prior year, and Adjusted earnings attributable to Parkland (&#8220;Adjusted earnings&#8221;)<sup>3<\/sup> of <span class=\"xn-money\">$55 million<\/span>, or <span class=\"xn-money\">$0.36<\/span> per share, basic, up approximately 28 percent year-over-year.<sup>4<\/sup><\/li>\n<\/ul>\n<p><b><i>2021 Highlights<\/i><\/b><\/p>\n<ul type=\"disc\">\n<li>Adjusted EBITDA of <span class=\"xn-money\">$1.260 billion<\/span>, up over 30 percent from prior year. <\/li>\n<li>Net earnings of <span class=\"xn-money\">$97 million<\/span>, or <span class=\"xn-money\">$0.64<\/span> per share, basic, up approximately 20 percent from 2020 and Adjusted earnings of <span class=\"xn-money\">$372 million<\/span>, up 200 percent from 2020. <\/li>\n<li>Trailing twelve months distributable cash flow per share<sup>3<\/sup> of <span class=\"xn-money\">$4.34<\/span>, up 35 percent from 2020. <\/li>\n<li>Cash flow from operating activities of <span class=\"xn-money\">$904 million<\/span> fully funded capital expenditures, dividend payments, and interest on leases and long-term debt. <\/li>\n<li>Undertook a record number of acquisitions for attractive values with significant synergy potential; accelerating delivery of our strategy and building on our track record of prudent acquisitions. <\/li>\n<li>Maintained strong liquidity position, with cash and cash equivalents of <span class=\"xn-money\">$284 million<\/span> and unused credit facilities of <span class=\"xn-money\">$1,270 billion<\/span> as at <span class=\"xn-chron\">December 31, 2021<\/span>. Continued to enhance financial strength by taking advantage of favourable conditions to refinance senior notes. Parkland has no debt maturities until 2026. <\/li>\n<li>Delivered 12 percent year-over-year growth in our <span class=\"xn-location\">Canada<\/span>, <span class=\"xn-location\">USA<\/span> and International marketing segments. <\/li>\n<li>Fuel and petroleum volume of 24 billion litres, up over 10 percent from 2020, reflecting the impact of acquisitions, resilient customer demand and ongoing recovery from COVID. <\/li>\n<li>Continued to expand our ON <i>the<\/i> RUN convenience brand with 107 additional locations and grow the reach of our JOURNIE\u2122 rewards program to 1,200 locations. Over the past year, we have almost doubled JOURNIE\u2122 membership, from 1.5 million active members to over 2.9 million.<\/li>\n<\/ul>\n<p><b><i>2022 Outlook<\/i><\/b><\/p>\n<ul type=\"disc\">\n<li>Increased 2022 Adjusted EBITDA guidance to <span class=\"xn-money\">$1.5 billion<\/span> +\/- 5 percent, reflecting our execution confidence and the expected close of previously announced acquisitions. <\/li>\n<li>Increased the annual dividend by 5.3 percent to <span class=\"xn-money\">$1.300<\/span> per share and starting in the second quarter will switch to a quarterly payment schedule.<\/li>\n<\/ul>\n<p>&#8220;I want to thank the Parkland team for an incredible year,&#8221; said <span class=\"xn-person\">Bob Espey President<\/span> and Chief Executive Officer. &#8220;While the BC floods prevented us delivering record Adjusted EBITDA, I am proud of the way we supported impacted communities. We accelerated all aspects of our strategy in 2021 and announced a record number of acquisitions. We expanded our retail, food and loyalty business, and made significant progress on our decarbonization strategy by doubling our renewable fuel production, growing our voluntary carbon offset business and\u00a0advancing our electric vehicle charging network.&#8221;<\/p>\n<p>&#8220;Parkland is poised for continued growth,&#8221; added Espey. &#8220;We enter 2022 ahead of our plan to deliver <span class=\"xn-money\">$2 billion<\/span> of run-rate Adjusted EBITDA by the end of 2025. We are focused on integrating and capturing synergies from the businesses we acquired, driving returns and deleveraging. Our base business and recent acquisitions are on track to deliver strong cash flow, giving us confidence to increase our\u00a0dividend. Our opportunities for growth and value creation have never been greater.&#8221;<\/p>\n<p><b>Q4 2021 Segment Highlights<\/b><\/p>\n<ul type=\"disc\">\n<li><b><span class=\"xn-location\">Canada<\/span><\/b> delivered Adjusted EBITDA of <span class=\"xn-money\">$117 million<\/span>, up almost 5 percent, from <span class=\"xn-money\">$112 million<\/span> in Q4 2020. Performance was underpinned by robust fuel and convenience margins, company C-store same-store sales growth<sup>5<\/sup> (&#8220;SSSG&#8221;) of 4.7 percent (excluding cigarettes) and ongoing economic recovery. We continued to expand our ON <i>the<\/i> RUN convenience brand and successfully extended JOURNIE<sup>TM<\/sup> Rewards across our FasGas network, and now have 2.9 million active members. <\/li>\n<li><b>International<\/b> delivered Adjusted EBITDA of <span class=\"xn-money\">$78 million<\/span>, up over 8 percent, from <span class=\"xn-money\">$72 million<\/span> in Q4 2020. Performance was underpinned by a strong base and resource business, with growing wholesale volumes. We continue to see signs of recovery in some of the larger tourism markets with others expected to reopen in 2022. <\/li>\n<li><b><span class=\"xn-location\">USA<\/span><\/b> delivered Adjusted EBITDA of <span class=\"xn-money\">$41 million<\/span>, up over 400 percent, from <span class=\"xn-money\">$8 million<\/span> in Q4 2020. Performance was underpinned by the impact of acquisitions, synergy capture and continued organic growth initiatives. We are seeing a gradual return in cruise ship sailings in <span class=\"xn-location\">Florida<\/span> and our teams continued to offset the impact of inflation. <\/li>\n<li><b>Supply<\/b> delivered Adjusted EBITDA of <span class=\"xn-money\">$58 million<\/span>, down 28 percent, from <span class=\"xn-money\">$81 million<\/span> in Q4 2020. Performance was impacted by the BC floods, which required the shutdown of the Transmountain Pipeline and led to a pause in refinery processing operations. We estimate an approximately <span class=\"xn-money\">$35 million<\/span> negative impact on Adjusted EBITDA from this event. During the quarter, we also completed a minor planned maintenance turnaround. In 2021, we co-processed a record 86 million litres of bio-feedstocks which has the equivalent environmental effect of taking over 70,000 cars off the road. Full-year composite utilization<sup>6<\/sup> was 84 percent driven by safe and consistent operational performance.<\/li>\n<\/ul>\n<p><b>Parkland is a Sustainability Leader: Awarded AA ESG Rating from MSCI<\/b><\/p>\n<p>Sustainability is deeply embedded across our business and through 2021, we continued to strengthen our focus on this important area. In recognition of our commitment to sustainability, we received an AA ESG Rating from Morgan Stanley Capital International (&#8220;MSCI&#8221;). This places us in the top 17 percent\u00a0of index constituents. Key highlights and environmental accomplishments include:<\/p>\n<ul type=\"disc\">\n<li>Published our Sustainability Report which reflects our goal to achieve zero safety incidents, zero spills, zero tolerance for racism and discrimination, zero tolerance for corruption, bribery, and unethical behaviour and to help our governments achieve their goal of net-zero emissions by 2050. Grounded in meaningful and measurable targets, including ambitious greenhouse gas emission reduction targets, our report formalizes our enterprise-wide sustainability strategy and can be viewed by clicking this link: <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3460918-1&amp;h=2311317077&amp;u=https%3A%2F%2Fwww.parkland.ca%2Fapplication%2Ffiles%2F6816%2F3706%2F2130%2FDrive_to_Zero_Parkland_Sustainability_Report_English_Final.pdf&amp;a=Parkland+%E2%80%93+Drive+to+Zero\" rel=\"nofollow\">Parkland \u2013 Drive to Zero<\/a><\/u>. <\/li>\n<li>Extended our track record of renewable fuel leadership at the Burnaby Refinery, co-processing a record 86 million litres of bio-feedstocks. These fuels play a crucial role helping our commercial customers decarbonize their energy use. In 2021 this had the equivalent effect of taking over 70,000 cars off the road. We have more than doubled our renewable fuel production every year since 2019. <\/li>\n<li>Committed to build <span class=\"xn-location\">British Columbia&#8217;s<\/span> largest network (by site count) of Electric Vehicle (&#8220;EV&#8221;) ultra-fast chargers. Strategically located on key arterial routes between Vancouver Island and <span class=\"xn-location\">Calgary<\/span>, this network will offer customers unrivalled amenity in the form of high-speed charging, premium ON <i>the<\/i> RUN convenience stores and food choices. This network is expected to open during the summer of 2022. <\/li>\n<li>Continued to grow our carbon offset and renewable business, which plays an integral role in our sustainability strategy and in helping our customers meet their environmental commitments. With global demand for voluntary offsets increasing, we delivered significant growth and transacted carbon offset credits across various North American registries. <\/li>\n<li>Became a signatory of the United Nations Global Compact, a voluntary initiative to support the United Nation&#8217;s Sustainable Development Goals.<\/li>\n<\/ul>\n<p><b>Updated 2022 Guidance: Adjusted EBITDA of <span class=\"xn-money\">$1.5 billion<\/span><\/b><\/p>\n<p>Reflecting confidence in our execution capability and continued growth trajectory, as well as the expected close of previously announced acquisitions, we are increasing our Adjusted EBITDA guidance previously disclosed in Parkland&#8217;s <span class=\"xn-chron\">November 16, 2021<\/span> news release. Highlights include:<\/p>\n<ul type=\"disc\">\n<li>Adjusted EBITDA of <span class=\"xn-money\">$1.5 billion<\/span> +\/- 5 percent. This is up approximately 20 percent from 2021 results. <\/li>\n<li>Capital expenditures (attributable to Parkland) are expected to be at the lower end of between <span class=\"xn-money\">$475 million<\/span> and <span class=\"xn-money\">$575 million<\/span>, comprising: <\/li>\n<ul type=\"circle\">\n<li>Growth capital expenditures<sup>7 <\/sup>(attributable to Parkland) of between <span class=\"xn-money\">$250 million<\/span> and <span class=\"xn-money\">$300 million<\/span>. <\/li>\n<li>Maintenance capital expenditures<sup>7<\/sup> (attributable to Parkland) of between <span class=\"xn-money\">$225 million<\/span> and <span class=\"xn-money\">$275 million<\/span>.<\/li>\n<\/ul>\n<\/ul>\n<p><b>Consolidated Financial Overview<\/b><\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prngen1\">\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)<\/span><\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended December\u00a031,<\/span><\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Year ended December\u00a031,<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Financial Summary<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2020<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2020<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Fuel and petroleum product volume (million litres)<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>6,398<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,485<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>23,900<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">21,424<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Sales and operating revenue<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen24 prnpr8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>6,286<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,506<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>21,468<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14,011<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted EBITDA attributable to Parkland (&#8220;Adjusted EBITDA&#8221;)<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>260<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">247<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>1,260<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">967<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Canada<sup>(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>117<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">112<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>439<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">435<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">International<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>78<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">72<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>294<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">270<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">USA<sup>(5)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>41<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>136<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">72<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Supply<sup>(4)(5)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>58<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">81<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>509<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">282<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Corporate<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(34)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(26)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(118)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(92)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net earnings (loss) attributable to Parkland<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>23<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">53<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>97<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">82<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net earnings (loss) per share \u2013 basic ($ per share)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>0.15<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.36<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>0.64<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.55<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net earnings (loss) per share \u2013 diluted ($ per share)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>0.15<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.35<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>0.64<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.54<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted earnings (loss) attributable to Parkland (&#8220;Adjusted earnings&#8221;)<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>55<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">43<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>372<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">124<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted earnings (loss) per share &#8211; basic ($ per share)<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>0.36<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.29<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2.46<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.83<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted earnings (loss) per share &#8211; diluted ($ per share)<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>0.36<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.28<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2.45<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.82<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">TTM Distributable cash flow<sup>(3)(6)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>660<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">480<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>660<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">480<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">TTM Distributable cash flow per share<sup>(3)(6)(7)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>4.34<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3.22<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>4.34<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3.22<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Dividends<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>47<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">47<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>190<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">184<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Dividends per share<sup>(7)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>0.3087<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.3036<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>1.2314<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.2110<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Weighted average number of common shares (million shares)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>153<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">149<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>151<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">149<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total assets<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>11,550<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9,094<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>11,550<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9,094<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Non-current financial liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>6,033<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,377<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>6,033<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,377<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table id=\"convertedTable1e6a\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(1) <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Certain amounts within sales and operating revenue and fuel and petroleum product volumes were restated and reclassified to conform to the presentation used in the current period.\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(2) <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Measure of segment profit. See &#8220;Specified Financial Measures&#8221; section of this news release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(3) <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Non-GAAP financial measure. See &#8220;Specified Financial Measures&#8221; section of this news release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(4) <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Canada Retail and Canada Commercial, formerly presented separately as individual segments, and the Canadian distribution business, formerly presented in Supply, are now included in Canada, reflecting a change in organizational structure in 2020.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(5) <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">For comparative purposes, information for previous periods was restated due to a change in segment presentation. The supply and trading business in the United States, formerly presented in the Supply segment, is now included in the USA segment, reflecting a change in organizational structure in 2021.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(6)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Amounts presented on a trailing-twelve-month basis (&#8220;TTM&#8221;).<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(7)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Calculated based on weighted average number of shares.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><b>Announcing a 5.3 percent annual dividend increase and adoption of quarterly payment schedule<\/b><\/p>\n<p>Parkland&#8217;s annualized common share dividend will increase 5.3 percent from <span class=\"xn-money\">$1.235<\/span> to <span class=\"xn-money\">$1.300<\/span>, effective with the monthly dividend payable on <span class=\"xn-chron\">April 15, 2022<\/span> to shareholders of record at the close of business on <span class=\"xn-chron\">March 22, 2022<\/span>. Starting in the second quarter, any declared\u00a0dividends will be paid on a quarterly basis, at the expected\u00a0rate of <span class=\"xn-money\">$0.325<\/span> per share. \u00a0\u00a0<\/p>\n<p><b>Q4 2021 Conference Call and Webcast Details<\/b><\/p>\n<p>Parkland will host a webcast and conference call on <span class=\"xn-chron\">Friday, March 4<\/span>, at <span class=\"xn-chron\">6:30am MDT<\/span> (<span class=\"xn-chron\">8:30am EDT<\/span>) to discuss the results. To listen to the live webcast and watch the presentation, please use the following link:<\/p>\n<p><u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3460918-1&amp;h=3190649040&amp;u=https%3A%2F%2Fproduceredition.webcasts.com%2Fstarthere.jsp%3Fei%3D1527086%26tp_key%3Dbb26fea062&amp;a=https%3A%2F%2Fproduceredition.webcasts.com%2Fstarthere.jsp%3Fei%3D1527086%26tp_key%3Dbb26fea062\" rel=\"nofollow\">https:\/\/produceredition.webcasts.com\/starthere.jsp?ei=1527086&amp;tp_key=bb26fea062<\/a><\/u><\/p>\n<p>Analysts and institutional investors interested in participating in the question-and-answer session of the conference call may do so by calling 1-888-390-0546 (toll-free) (Conference ID: 33819081). International participants can call 1-587-880-2171 (toll) (Conference ID: 33819081).<\/p>\n<p>Please connect and log in approximately 10 minutes before the beginning of the call. The webcast will be available for replay two hours after the conference call ends at the link above. It will remain available for one year and will also be posted to <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3460918-1&amp;h=4081951770&amp;u=http%3A%2F%2Fwww.parkland.ca%2F&amp;a=www.parkland.ca\" rel=\"nofollow\">www.parkland.ca<\/a><\/u>.<\/p>\n<p><b>MD&amp;A and Consolidated Financial Statements<\/b><\/p>\n<p>The management&#8217;s discussion and analysis for the quarter and year ended <span class=\"xn-chron\">December 31, 2021<\/span> (the &#8220;Q4 2021 MD&amp;A&#8221;) and audited consolidated financial statements for the year ended <span class=\"xn-chron\">December 31, 2021<\/span> (the &#8220;Annual Consolidated Financial Statements&#8221;) provide a detailed explanation of Parkland&#8217;s operating results for the three months and year ended <span class=\"xn-chron\">December 31, 2021<\/span>. An English version of these documents will be available online at <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3460918-1&amp;h=4081951770&amp;u=http%3A%2F%2Fwww.parkland.ca%2F&amp;a=www.parkland.ca\" rel=\"nofollow\">www.parkland.ca<\/a><\/u>\u00a0and SEDAR after the results are released by newswire under Parkland&#8217;s profile at <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3460918-1&amp;h=2213379256&amp;u=https%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow\">www.sedar.com<\/a><\/u>. The Q4 2021 French MD&amp;A and Annual Consolidated French Financial Statements will be posted to <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3460918-1&amp;h=4081951770&amp;u=http%3A%2F%2Fwww.parkland.ca%2F&amp;a=www.parkland.ca\" rel=\"nofollow\">www.parkland.ca<\/a><\/u>\u00a0and SEDAR as soon as they become available.<\/p>\n<p><b>About Parkland Corporation<\/b><\/p>\n<p>Parkland&#8217;s purpose is to Power Journeys and Energize Communities. Through our portfolio of trusted and locally relevant food, convenience, retail, commercial and wholesale brands, we serve over one million customers per day across <span class=\"xn-location\">Canada<\/span>, <span class=\"xn-location\">the United States<\/span>, the <span class=\"xn-location\">Caribbean<\/span> region and Central and <span class=\"xn-location\">South America<\/span>. In addition to leveraging our supply and storage capabilities to provide the essential fuels that our diverse customers rely on, we are a leader in renewable energy and are building an EV charging network to serve growing demand for convenient charging from EV drivers in select markets and decarbonizing through renewable fuels manufacturing, compliance and carbon offsets marketing and trading.<\/p>\n<p>Parkland&#8217;s proven strategy is centered around growing organically, realizing a supply advantage, acquiring prudently, and integrating successfully. We are positioned to lead through the energy transition and are focused on developing our existing business in resilient markets, further diversifying our retail business into food, convenience, and renewable energy solutions (including EV charging), and helping our commercial customers decarbonize their operations. Our strategy is enabled and underpinned by our people, as well as our values of safety, integrity, community, and respect, which are deeply embedded across our organization.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>Certain statements contained in this news release constitute forward-looking information and statements (collectively, &#8220;forward-looking statements&#8221;). When used in this news release the words &#8220;expect&#8221;, &#8220;will&#8221;, &#8220;could&#8221;, &#8220;would&#8221;, &#8220;believe&#8221;, &#8220;continue&#8221;, &#8220;pursue&#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 objectives and strategies, Parkland&#8217;s ambition to generate run-rate Adjusted EBITDA of <span class=\"xn-money\">$2 billion<\/span> by 2025 and the key strategic pillars underpinning such ambition; Parkland&#8217;s 2022 guidance, including Adjusted EBITDA, growth and maintenance capital expenditure guidance; expected future dividend amounts, timing and frequency; Parkland&#8217;s ESG goals and targets, including the expected expansion of our renewables and carbon offset business; expected benefits and synergies to be derived from acquisitions, potential future acquisition opportunities, expected timing of the opening of Parkland&#8217;s electric vehicle ultra-fast charging network in <span class=\"xn-location\">British Columbia<\/span>; and Parkland&#8217;s ability to advance its growth agenda.<\/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 obligations 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, assumptions and uncertainties including, but not limited to, general economic, market and business conditions, including the duration and impact of the COVID-19 pandemic; Parkland&#8217;s ability to execute its business strategies, including without limitation, Parkland&#8217;s ability to consistently identify accretive acquisition targets and successfully integrate them, successfully implement organic growth initiatives and to finance such acquisitions and initiatives on reasonable terms; Parkland&#8217;s ability to grow its supply advantage by leveraging its scale and infrastructure; Parkland&#8217;s ability to achieve its ESG targets; competitive action by other companies; refining and marketing margins; the ability of suppliers to meet commitments; actions by governmental authorities and other regulators including but not limited to increases in taxes or restricted access to markets; changes and developments in environmental and other regulations; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described in &#8220;Forward-Looking Information&#8221; and &#8220;Risk Factors&#8221; included in Parkland&#8217;s Annual Information Form dated <span class=\"xn-chron\">March 5, 2021<\/span>, and &#8220;Forward-Looking Information&#8221; and &#8220;Risk Factors&#8221; included in the Q4 2021 MD&amp;A dated <span class=\"xn-chron\">March 3, 2022<\/span>, each filed on SEDAR and available on the Parkland website at <a href=\"http:\/\/www.parkland.ca\" rel=\"nofollow\">www.parkland.ca<\/a>. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.<\/p>\n<p><b>Specified Financial Measures<\/b><\/p>\n<p>This news release contains total of segments measures, non-GAAP financial measures and ratios and supplementary financial 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 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 IFRS. <span class=\"xn-person\">See Section<\/span> 15 of the Q4 2021 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>Total of Segments Measures<\/i><\/p>\n<p>Adjusted EBITDA 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, 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 or loss only if they are included in the measure of the segment&#8217;s profit or loss that is used by the chief operating decision maker. As such, Parkland&#8217;s Adjusted EBITDA is unlikely to be comparable to similarly named measures 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. Please refer to the table below for the reconciliation of Adjusted EBITDA to net earnings (loss) for the three month and twelve month periods ending <span class=\"xn-chron\">December 31, 2020<\/span> and <span class=\"xn-chron\">December 31, 2021<\/span>.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prngen1\">\n<tr>\n<td class=\"prngen7\"><\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended December\u00a031,<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Year ended December\u00a031,<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2020<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2020<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net earnings (loss)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>27<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">64<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>126<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">112<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Add:<\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen8\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Acquisition, integration and other costs<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>24<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>52<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">52<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Depreciation and amortization<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>156<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">144<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>616<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">609<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Finance costs<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>86<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">58<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>323<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">250<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(Gain) loss on foreign exchange \u2013 unrealized<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>6<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(7)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(Gain) loss on asset disposals<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(5)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(13)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(Gain) loss on risk management and other \u2013 unrealized<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(11)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(11)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>10<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(10)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other (gains) and losses<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>20<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(29)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>203<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other adjusting items<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>4<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>12<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Income tax expense (recovery) <\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(22)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">30<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>36<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">42<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted EBITDA including NCI<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>285<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">271<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>1,358<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,057<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Deduct: Attributable to NCI<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>25<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">24<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>98<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">90<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted EBITDA attributable to Parkland (&#8220;Adjusted EBITDA&#8221;)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>260<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">247<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,260<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">967<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table id=\"convertedTable7faf\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(1)<\/sup>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other (gains) and losses for the three months ended December\u00a031, 2021 include the following: (i) $25 million gain (2020 &#8211; $34 million loss) due to the change in redemption value of Sol Put Option; (ii) $34 million loss (2020 &#8211; $72 million gain) due to the change in fair value of redemption options; and (iii) $11\u00a0million loss (2020 &#8211; $9\u00a0million loss) in Other items.\u00a0Other (gains) and losses for the year ended December 31, 2021 include the following: (i) $87 million loss (2020 &#8211; $23 million loss) due to change in redemption value of Sol Put Option; (ii) $86 million loss (2020 &#8211; $34\u00a0million gain) due to change in fair value of redemption options; and (iii) $30\u00a0million loss (2020 &#8211; $7\u00a0million loss) in Other items. Refer to Note 22 of the Annual Consolidated Financial Statements.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(2)<\/sup>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other Adjusting Items for the three months ended December 31, 2021 include the share of depreciation and income taxes for the Isla joint venture of $4 million (2020 &#8211; nil). Other Adjusting Items for the year ended December 31, 2021 include the following: (i) $1 million loss (2020 &#8211; $5\u00a0million loss) on foreign exchange on cash pooling arrangements within gain (loss) on foreign exchange &#8211; realized; (ii) an unrealized gain of nil (2020 &#8211; $9 million loss) on Intermediation Facility Derivatives within fuel and petroleum product cost of purchases; (iii) share of depreciation and income taxes from the Isla joint venture of $7 million (2020 &#8211; nil).<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><i>Non-GAAP Financial Measures and Ratios<\/i><\/p>\n<p>Adjusted earnings is a non-GAAP financial measure and Adjusted earnings per share is a non-GAAP financial ratio included in this news release to assist management, investors and analysts with the analysis of the operating and financial performance and liquidity of Parkland. These non-GAAP financial measures and ratios do not have any standardized meaning under IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. The non-GAAP financial measures and ratios should not be considered in isolation or used in substitute for measures of performance prepared in accordance with IFRS. Except as otherwise indicated, these non-GAAP measures and ratios are calculated and disclosed on a consistent basis from period to period. See section 15 of the Q4 2021 MD&amp;A, which is incorporated by reference into this news release, for further details regarding Parkland&#8217;s non-GAAP financial measures and ratios. Please see below for the reconciliation of Adjusted earnings (loss) to net earnings (loss) and calculation of Adjusted earnings (loss) per share for the three and twelve month periods ending <span class=\"xn-chron\">December 31, 2020<\/span> and <span class=\"xn-chron\">December 31<\/span>, 2021.\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prngen1\">\n<tr>\n<td class=\"prngen7\"><\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Three months ended December\u00a031,<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Year ended December\u00a031,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise stated)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2020<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2020<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net earnings (loss)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>27<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">64<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>126<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">112<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Add:<\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen8\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Acquisition, integration and other costs<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>24<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>52<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">52<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Loss on modification of long-term debt<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>18<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>77<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">(Gain) loss on foreign exchange \u2013 unrealized<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>6<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(7)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">(Gain) loss on asset disposals<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(5)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(13)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">(Gain) loss on risk management and other \u2013 unrealized<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(11)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(11)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>10<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(10)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Other (gains) and losses<sup>(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>20<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(29)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>203<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Other adjusting items<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>4<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>12<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Tax normalization<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(13)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">15<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(42)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted earnings (loss) including NCI<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>70<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">54<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>418<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">156<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less: Adjusted earnings (loss) attributable to NCI<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>15<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>46<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">32<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted earnings (loss)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>55<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">43<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>372<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">124<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen8\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\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=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>153<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">149<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>151<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">149<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Weighted average number of common shares adjusted for the effects of <br \/>dilution (million shares)<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>153<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">151<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>152<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">151<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted earnings (loss) per share ($ per share)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen8\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Basic<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>0.36<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.29<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2.46<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.83<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.36<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.28<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2.45<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.82<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table id=\"convertedTable3900\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other Adjusting Items for the three months ended December 31, 2021 include the share of depreciation and income taxes for the Isla joint venture of $4 million (2020 &#8211; nil). Other Adjusting Items for the year ended December 31, 2021 include the following: (i) $1 million loss (2020 &#8211; $5\u00a0million loss) on foreign exchange on cash pooling arrangements within gain (loss) on foreign exchange &#8211; realized; (ii) an unrealized gain of nil (2020 &#8211; $9 million loss) on Intermediation Facility Derivatives within fuel and petroleum product cost of purchases; (iii) share of depreciation and income taxes from the Isla joint venture of $7 million (2020 &#8211; nil).<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">The tax normalization adjustment was applied to net earnings (loss) adjusting items that were considered temporary differences, such as gains and losses on asset disposals, acquisition, integration and other costs, unrealized foreign exchange gains and losses, gains and losses on risk management and other, changes in fair value of redemption options, changes in estimates of environmental provisions, and debt modifications. 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=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Weighted average number of common shares are 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<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other (gains) and losses for the three months ended December\u00a031, 2021, include the following: (i) $25 million gain (2020 &#8211; $34 million loss) due to the change in redemption value of Sol Put Option; (ii) $34 million loss (2020 &#8211; $72 million gain) due to the change in fair value of redemption options; (iii) $11\u00a0million loss (2020 &#8211; $9\u00a0million loss) in Other items.\u00a0Other (gains) and losses for the year ended December 31, 2021, include the following: (i) $87 million loss (2020 &#8211; $23 million loss) due to change in redemption value of Sol Put Option; (ii) $86 million loss (2020 &#8211; $34 million gain) due to change in fair value of redemption options; (iii)\u00a0$30\u00a0million loss (2020 &#8211; $7\u00a0million loss) in Other items.\u00a0Refer to Note 22 of the Annual Consolidated Financial Statements.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Distributable cash flow is a cash metric that adjusts for the impact of seasonality in Parkland&#8217;s business by removing non-cash working capital items and excludes the effect of items that are not considered representative of Parkland&#8217;s ability to generate cash flows. Such items include: (i) acquisition, integration, and other costs; (ii) turnaround maintenance capital expenditures; (iii) the change in certain risk management and other instruments, and (iv) interest on leases and long-term debt, and principal payments on leases attributable to non-controlling interests. Parkland uses this non-GAAP financial measure to monitor normalized cash flows of the business by eliminating the impact of Parkland&#8217;s working capital fluctuations and expenditures used in acquisition, integration and other activities, which can vary significantly from quarter-to-quarter. Please refer to the table below for the reconciliation of distributable cash flow to cash generated from (used in) operating activities and a calculation of distributable cash flow per share for the trailing twelve month periods ending <span class=\"xn-chron\">December 31, 2020<\/span> and <span class=\"xn-chron\">December 31, 2021<\/span>.<\/p>\n<p\/>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prngen1\">\n<tr>\n<td class=\"prngen7\"><\/td>\n<td colspan=\"4\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Three months ended<\/b><\/span><\/p>\n<\/td>\n<td class=\"prnsbts prnrbrb0 prnvab prnsbtb0 prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Trailing twelve <br \/>months ended<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>March 31, <br \/>2021<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>June 30, <br \/>2021<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>September 30, <br \/>2021<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>December <br \/>31, 2021<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>December 31, <br \/>2021<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Cash generated from (used in) operating activities<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>264<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>322<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>200<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>118<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>904<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Exclude: Adjusted EBITDA attributable to NCI, net of tax<\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(23)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(21)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(26)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(22)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(92)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>241<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>301<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>174<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>96<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>812<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Reverse: Change in other liabilities and other assets<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(14)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(9)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>4<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>8<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(11)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Reverse: Net change in non-cash working capital<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>53<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>22<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>119<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>148<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>342<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Maintenance capital expenditures attributable to Parkland<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(20)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(45)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(40)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(112)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(217)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Exclude: Turnaround maintenance capital expenditures<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>\u2014<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>\u2014<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>3<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>8<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>11<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Proceeds on asset disposals<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>5<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>1<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>4<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>4<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>14<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Reverse: Acquisition, integration and other costs<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>5<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>11<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>12<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>24<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>52<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Interest on leases and long-term debt<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(54)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(54)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(56)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(59)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(223)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Exclude: Interest on leases and long-term debt attributable to NCI<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>1<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>1<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>1<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>1<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>4<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Payments on principal amount on leases<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(35)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(33)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(36)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(38)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(142)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Exclude: Payments on principal amount on leases attributable to NCI<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>4<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>4<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>5<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>5<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>18<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Distributable cash flow<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>186<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>199<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>190<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>85<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>660<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Weighted average number of common shares (million shares)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>152<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Distributable cash flow per share<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>4.34<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table id=\"convertedTableb29c\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(1) <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Prior to March 31, 2021, distributable cash flow was referred to as adjusted distributable cash flow. <\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(2) <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">For comparative purposes, information for previous periods was restated due to a change in presentation of cash flows from (used in) operating and financing activities. Interest paid on long-term debt and leases, formerly included in &#8220;Cash generated from (used in) operating activities&#8221;, is now included in &#8220;Cash generated from (used in) financing activities&#8221;, reflecting a more relevant presentation of finance costs payments.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(3) <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">For comparative purposes, information for the quarter ended September 30, 2021 was restated due to a change in presentation for certain emission credits and allowances held for trading which were formerly included in &#8220;Risk management and other&#8221; and are now included in &#8220;Inventories&#8221;.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prngen1\">\n<tr>\n<td class=\"prngen7\"><\/td>\n<td colspan=\"4\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prnsbts prnrbrb0 prnvab prnsbtb0 prntar prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Trailing twelve<br \/>\u00a0months ended<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions, unless otherwise noted)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnml4\"><span class=\"prnews_span\">March 31, <br \/>2020<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnml4\"><span class=\"prnews_span\">June 30, <br \/>2020<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30, <br \/>2020<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnml4\"><span class=\"prnews_span\">December 31, <br \/>2020<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnml4\"><span class=\"prnews_span\">December 31, <br \/>2020<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Cash generated from (used in) operating activities<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">328<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">629<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">253<\/span><\/p>\n<\/td>\n<td class=\"prnsbts prnrbrb1 prnvab prnsbbb1 prntar prnpl6 prnsblb1 prnpr6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(40)<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,170<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Exclude: Adjusted EBITDA attributable to NCI, net of tax<\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(20)<\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(15)<\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(24)<\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(20)<\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(79)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">308<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">614<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">229<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(60)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,091<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Reverse: Change in other liabilities, other assets and other instruments<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(21)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">27<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">15<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Reverse: Net change in non-cash working capital<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(135)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(425)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">89<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">288<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(183)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Maintenance capital expenditures attributable to Parkland<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(118)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(50)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(39)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(225)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Exclude: Turnaround maintenance capital expenditures<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">55<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">16<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">74<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Proceeds on asset disposals<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">16<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Reverse: Acquisition, integration and other costs<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">21<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">52<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Interest on leases and long-term debt<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(59)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(59)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(59)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(56)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(233)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Exclude: Interest on leases and long-term debt attributable to NCI<sup>(3)<\/sup><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Include: Payments on principal amount on leases<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(39)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(35)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(40)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(35)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(149)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Exclude: Payments on principal amount on leases attributable to NCI<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">20<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Distributable cash flow<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">20<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">76<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">247<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">137<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">480<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Weighted average number of common shares (million shares)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">149<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Distributable cash flow per share<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3.22<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table id=\"convertedTablec431\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(1) <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Prior to March 31, 2021, distributable cash flow was referred to as adjusted distributable cash flow. <\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(2) <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">For comparative purposes, information for previous periods was restated due to a change in presentation of cash flows from (used in) operating and financing activities. Interest paid on long-term debt and leases, formerly included in &#8220;Cash generated from (used in) operating activities&#8221;, is now included in &#8220;Cash generated from (used in) financing activities&#8221;, reflecting a more relevant presentation of finance costs payments.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(3) <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Beginning September 30, 2020, interest on leases and long-term debt attributable to NCI is excluded from distributable cash flow.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Company C-Store SSSG refers to the period-over-period sales growth generated by retail convenience stores at the same company sites. The effects of opening and closing stores, temporary closures (including closures for ON <i>the<\/i> 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. Company C-Store SSSG does not have any standardized meaning under IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. Please see below for a reconciliation of convenience store revenue of the <span class=\"xn-location\">Canada<\/span> segment with the C-Store same store sales (&#8220;SSS&#8221;) and calculation of the Company C-Store SSSG.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prngen1\">\n<tr>\n<td class=\"prngen20\"><\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Three months ended <br \/>December\u00a031,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Three months ended<br \/><\/b><b>\u00a0December\u00a031,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">($ millions)<\/span><\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2020<\/span><\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2020<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2019<\/span><\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Convenience Store (&#8220;C-store&#8221;) revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>93<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">95<\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>95<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">91<\/span><\/p>\n<\/td>\n<td class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Add:<\/span><\/p>\n<\/td>\n<td class=\"prngen24 prnpr14\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Point-of-sale (&#8220;POS&#8221;) value of goods and services sold at C-stores <br \/>operated by retailers<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>141<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">143<\/span><\/p>\n<\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>143<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">131<\/span><\/p>\n<\/td>\n<td class=\"prngen23\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less:<\/span><\/p>\n<\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Rental income from retailers and others<sup>(1)(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(26)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(23)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(23)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(25)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Same Store revenue adjustments<sup>(4)<\/sup> (excluding cigarettes)<\/span><\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(9)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(9)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(6)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbts prnrbrb1 prnvab prnsbbs prnpl6 prnsblb1 prnpr6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Same Store C-store Sales<sup>(5)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>199<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">206<\/span><\/p>\n<\/td>\n<td class=\"prnsbts prnrbrb1 prnvab prnsbbs prntar prnpl6 prnsblb1 prnpr4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3.2)%<\/span><\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>209<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">193<\/span><\/p>\n<\/td>\n<td class=\"prnsbts prnrbrb1 prnvab prnsbbs prntar prnpl6 prnsblb1 prnpr6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7.8 \u00a0 \u00a0 \u00a0%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less:<\/span><\/p>\n<\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Same Store revenue adjustments<sup>(4)<\/sup> (cigarettes)<\/span><\/p>\n<\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(102)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(114)<\/span><\/p>\n<\/td>\n<td class=\"prngen30\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(115)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(107)<\/span><\/p>\n<\/td>\n<td class=\"prngen30\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Same Store C-Store sales (excluding cigarettes)<sup>(5)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>97<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">92<\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4.7%<\/span><\/p>\n<\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>94<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">86<\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8.7 \u00a0 \u00a0 \u00a0%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table id=\"convertedTableb59d\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Includes rental income from retailers in the form of a percentage rent on convenience store sales.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(2) <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other excluded revenues include automated teller machine and POS system licensing fees.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(3) <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">POS values used to calculate Company C-Store SSSG are not a Parkland financial measure and do not form part of Parkland&#8217;s consolidated financial statements.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(4) <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">This adjustment excludes the effects of opening and closing stores, temporary closures (including closures for ON <i>the<\/i> RUN \/ March\u00e9 Express conversions), expansions of stores, renovations of stores, and stores with changes in food service models, to derive a comparable same-store metric.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(5) <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Percentages are calculated based on unrounded numbers.<\/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 maintenance capital expenditures and growth capital expenditures, to evaluate the success of our strategic objectives and to set variable compensation targets for employees and which are included in this news release. These measures may not be comparable to similar measures presented by other issuers, as other issuers may calculate these metrics differently. See section 15 of the Q4 2021 MD&amp;A, which is incorporated by reference into this news release, for further details on the supplementary financial measures used by Parkland.<\/p>\n<p><b>Non-Financial Measures<\/b><\/p>\n<p>In addition to specified financial measures, Parkland uses a number of non-financial measures, including composite utilization, in measuring the success of our strategic objectives and to set variable compensation targets for employees. These non-financial measures are not accounting measures, do not have comparable IFRS 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 Q4 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<div>\n<table id=\"convertedTable40ca\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td colspan=\"2\" class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prntal prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">__________<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>1<\/sup>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Total of segment measure. See &#8220;Specified Financial Measures&#8221; section of this news release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>2<\/sup>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Estimated based on lost crude throughput and refining margins during the temporary pause in refining operations from November 22 to December 11, 2021.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>3<\/sup>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Non-GAAP financial measure. See &#8221; Specified Financial Measures&#8221; section of this news release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>4<\/sup>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">See &#8220;Specified Financial Measures&#8221; section of this news release for a reconciliation of net earnings to Adjusted earnings. <\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>5<\/sup>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Non-GAAP financial measure. See &#8221; Specified Financial Measures&#8221; section of this news release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>6<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><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<tr>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>7 <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Supplementary financial measure. See &#8220;Specified Financial Measures&#8221; section of this news release.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>\u00a0<\/p>\n<p>Investor Inquiries, <span class=\"xn-person\">Valerie Roberts<\/span>, Director, Investor Relations, 403-956-9282, <a href=\"mailto:Valerie.Roberts@parkland.ca\" rel=\"nofollow\">Valerie.Roberts@parkland.ca<\/a>; Media Inquiries, <span class=\"xn-person\">Simon Scott<\/span>, Director, Corporate Communications, 403-956-9272, <a target=\"_blank\" href=\"mailto:Simon.Scott@parkland.ca\" rel=\"nofollow\">Simon.Scott@parkland.ca<\/a><\/p>\n<p>SOURCE  Parkland Corporation<\/p>\n<\/div>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">CALGARY, AB<\/span>, <span class=\"xn-chron\">March 3, 2022<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0Parkland Corporation (&#8220;Parkland&#8221;, &#8220;we&#8221;, the &#8220;Company&#8221;, or &#8220;our&#8221;) (TSX:PKI), a leading food and convenience store operator, independent supplier and marketer of fuel and petroleum products and leader in renewable energy, announced today its financial and operating results for the three months and year ended <span class=\"xn-chron\">December 31, 2021<\/span>, increased its 2022 Guidance and announced it is raising its annual dividend for the&#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-98396","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\/98396","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=98396"}],"version-history":[{"count":"1","href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/98396\/revisions"}],"predecessor-version":[{"id":98455,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/98396\/revisions\/98455"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=98396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=98396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=98396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}