Justin Jenkins

Ned Baramov

Noah Katz

Spiro Dounis

Theresa Chen

Charles Douglas Bryant

Gabriel Moreen

Jeremy Tonet

- Sunoco LP announced the commencement of **private exchange offers** for outstanding Canadian and U.S. dollar denominated notes previously issued by Parkland Corporation, offering new Sunoco notes with substantially identical terms.  **[1552275_0001193125-25-231024_d78128dex991.htm:0]** **[1552275_0001193125-25-231024_d78128dex991.htm:0]** **[1552275_0001193125-25-231024_d78128dex991.htm:1]** **[1552275_0001193125-25-231024_d78128d8k.htm:3]** **[1552275_0001193125-25-231024_d78128dex991.htm:3]** 
- Concurrently, Sunoco is soliciting consents to **amend the indentures** governing the Parkland notes, aiming to eliminate restrictive covenants, certain events of default, financial reporting covenants, and change of control purchase offers.  **[1552275_0001193125-25-231024_d78128dex991.htm:2]** **[1552275_0001193125-25-231024_d78128d8k.htm:3]** 
- The **Early Participation Date is October 20, 2025**, for holders to receive greater consideration, including a cash payment and an early participation premium, with the offers set to expire on **November 4, 2025**.  **[1552275_0001193125-25-231024_d78128dex991.htm:2]** **[1552275_0001193125-25-231024_d78128d8k.htm:3]** **[1552275_0001193125-25-231024_d78128dex991.htm:3]** 
- These exchange offers and consent solicitations are **conditional upon the completion of Sunoco's acquisition of Parkland Corporation**.  **[1552275_0001193125-25-231024_d78128dex991.htm:4]** 
- On October 3, 2025, Sunoco also entered into an **Amendment No. 4 to its Third Amended and Restated Credit Agreement** to permit the issuance of the new notes and the guaranty of any outstanding Parkland notes.  **[1552275_0001193125-25-231024_d78128dex101.htm:0]** **[1552275_0001193125-25-231024_d78128d8k.htm:1]**

Sunoco LP Commences Private Exchange Offers for Parkland Corporation Notes and Amends Credit Agreement

- Sunoco LP has commenced private offers to exchange **Canadian dollar and U.S. dollar denominated notes** previously issued by Parkland Corporation, totaling **C$1.6 billion** and **US$2.6 billion** respectively.  **[1552275_20251006DA90867:0]** **[1552275_20251006DA90867:1]** 
- Holders tendering notes by the **Early Participation Date of October 20, 2025**, will receive **Early Participation Exchange Consideration**, which includes a **C$2.50 or US$2.50 cash payment** and a **C$50.00 or US$50.00 early participation premium**.  **[1552275_20251006DA90867:2]** **[1552275_20251006DA90867:3]** 
- Concurrently, Sunoco is soliciting consents to amend the indentures governing the Parkland notes, aiming to eliminate most restrictive covenants, certain events of default, financial reporting covenants, and change of control offers.  **[1552275_20251006DA90867:2]** 
- These exchange offers and consent solicitations are contingent upon the **completion of Sunoco's acquisition of all outstanding common shares of Parkland**.  **[1552275_20251006DA90867:4]**

Sunoco LP Announces Exchange Offers and Consent Solicitations for Parkland Corporation Notes

- Sunoco LP and Parkland Corporation announced the **expiration of the waiting period** under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act).  **[1552275_0001193125-25-211323_d20317dex991.htm:0]** 
- The HSR Act waiting period expired on **September 19, 2025**, at 11:59 p.m. Eastern Time.  **[1552275_0001193125-25-211323_d20317d8k.htm:2]** 
- This satisfies a crucial regulatory approval for Sunoco's pending acquisition of Parkland.  **[1552275_0001193125-25-211323_d20317dex991.htm:0]** 
- The acquisition is expected to close in the **fourth quarter of 2025**, contingent on other regulatory approvals and customary closing conditions.  **[1552275_0001193125-25-211323_d20317dex991.htm:0]**

Sunoco and Parkland Announce Expiration of HSR Act Waiting Period

- **Sunoco LP** and **Parkland Corporation** announced the expiration of the waiting period under the **Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act)**.  **[1552275_20250922DA79570:0]** 
- This expiration satisfies a **key regulatory approval** necessary for Sunoco's pending acquisition of Parkland.  **[1552275_20250922DA79570:0]** 
- The transaction is expected to close in the **fourth quarter of 2025**, subject to obtaining other regulatory approvals and customary closing conditions.  **[1552275_20250922DA79570:0]**

Sunoco LP and Parkland Corporation Announce HSR Act Waiting Period Expiration

- Sunoco LP issued **5.625% Senior Notes due 2031** and **5.875% Senior Notes due 2034** on **September 18, 2025**.  **[1552275_0001193125-25-207487_d936183dex41.htm:0]** **[1552275_0001193125-25-207487_d936183d8k.htm:2]** 
- The company also closed a private offering of **1,500,000 Series A Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units** on **September 18, 2025**, generating **approximately $1,476 million** in net proceeds.  **[1552275_0001193125-25-207487_d936183d8k.htm:5]** 
- The proceeds from both the Senior Notes and Preferred Offering are intended to fund a portion of the cash consideration for the **Parkland Acquisition**.  **[1552275_0001193125-25-207487_d936183d8k.htm:0]** **[1552275_0001193125-25-207487_d936183d8k.htm:5]** 
- Both the Senior Notes and Series A Preferred Units are subject to a **special mandatory redemption** if the Parkland Acquisition is not consummated by **May 5, 2026**, or if the acquisition agreement is terminated or deemed unlikely to be completed.  **[1552275_0001193125-25-207487_d936183d8k.htm:0]** **[1552275_0001193125-25-207487_d936183d8k.htm:2]** 
- The Series A Preferred Units entitle holders to certain rights that are **senior** to the rights of common unit holders.  **[1552275_0001193125-25-207487_d936183d8k.htm:5]**

Sunoco (SUN)