Stonepeak Partners LP along with certain funds managed by Blue Wolf Capital Partners LLC entered into an arrangement agreement to acquire Logistec Corporation (TSX:LGT.B) from Sumanic Investments Inc. and others for approximately CAD 870 million on October 15, 2023. certain funds managed by Blue Wolf Capital Partners LLC and Stonepeak Partners LP will acquire Logistec Corporation for CAD 67 per share in cash. Purchaser have received an equity commitment letter and debt commitment letter for the financing of acquisition. The consideration offered under the transaction represents a 61.2% premium to the unaffected 20-day volume-weighted average trading price per Class A Common Share and a 62.2% premium to the unaffected 20-day volume-weighted average trading price per Class B Subordinate Voting Share on the Toronto Stock Exchange on May 19, 2023, the last trading day prior to the announcement of the strategic review process, and a 14.5% premium to the 20-day volume weighted average trading price per Class A Common Share and a 9.9% premium to the 20-day volume-weighted average trading price per Class B Subordinate Voting Share on the Toronto Stock Exchange on October 13, 2023. Following completion of the transaction, the Corporation will become a privately held company and will apply to cease to be a reporting issuer under Canadian securities laws and the Class A Common Shares and Class B Subordinate Voting Shares will no longer be publicly traded on the Toronto Stock Exchange. Blue Wolf is funding its portion of the purchase price with capital it manages on behalf of its limited partners via private equity fund capital as well as select co-investors, together with an additional preferred investment in the Purchaser by Stonepeak. A termination fee of CAD 32 million would be payable by the Corporation to the Purchaser in certain circumstances, including in the context of a superior proposal supported by the Corporation. The Corporation would also be entitled to a reverse termination fee of CAD 59 million if the transaction is not completed in certain circumstances.

LOGISTEC's Board of Directors has evaluated the Arrangement Agreement with the Corporation's management and legal and financial advisors, and following the receipt and review of the unanimous recommendation of the Special Committee, the Board of Directors has unanimously determined that the transaction is in the best interests of LOGISTEC and is fair to its shareholders, and unanimously recommends that LOGISTEC's shareholders approve the transaction. As of December 18, 2023, LOGISTEC's shareholders have approved the previously announced plan of arrangement. The transaction will be implemented by way of a plan of arrangement under the Business Corporations Act (Québec) and is expected to close in the first quarter of 2024, subject to customary closing conditions, including the receipt of regulatory approvals and clearances in Canada and the United States, LOGISTEC shareholder approval and Court approval. The transaction is not subject to any financing condition. As of December 22, 2023, Superior Court of Québec has issued a final order and approved the transaction. The transaction is expected to close during the week of January 8, 2024.

TD Securities Inc. is acting as exclusive financial advisor to the Corporation and Blair Franklin Capital Partners Inc. is acting as independent financial advisor to the Special Committee. Rothschild & Co is acting as exclusive financial advisor to Blue Wolf. William J. Braithwaite and David Massé of Stikeman Elliott LLP acting as independent legal advisors to the Special Committee and Jean Michel Lapierre and Caitlin Rose of Fasken Martineau DuMoulin LLP and K&L Gates LLP as legal advisors to the Corporation. Robin Mahood of McCarthy Tétrault LLP and Laura Delanoy of Willkie Farr & Gallagher LLP are acting as legal advisors to Blue Wolf. Davies Ward Phillips & Vineberg LLP is acting as legal advisor to Sumanic Investments Inc. Blair Franklin Capital Partners acted as fairness opinion to the board of Logistec Corporation.