Parkland Corporation announced the departure of Simpson Oil Limited (Simpson) nominees Michael Christiansen and Marc Halley from the Company's Board of Directors, effective December 31, 2023. Mr. Christiansen and Mr. Halley were nominated for election to the Board pursuant to the terms of the Board Nomination Agreement between Simpson Oil and Parkland, dated March 21, 2023 (the Board Nomination Agreement), and subsequently elected to the Board at Parkland's Annual General Meeting on May 4, 2023. Simpson has provided notice of its waiver of its nomination rights under the Board Nomination Agreement.

In accordance with its terms, the Board Nomination Agreement will terminate as of April 2, 2024. Simpson remains subject to the standstill, voting and other obligations set forth in the governance agreement between Simpson and Parkland dated January 8, 2019 (the Governance Agreement). Parkland will continue to enforce the terms of the Governance Agreement going forward.