Superior Plus Announces January 2023 Cash Dividend

January 2023 Cash Dividend – $0.06 per share

TORONTO–(BUSINESS WIRE)–Superior Plus Corp. (“Superior”) (TSX:SPB) today announced its cash dividend for the month of January 2023 of $0.06 per share payable on February 15, 2023. The record date is January 31, 2023 and the ex-dividend date will be January 30, 2023. Superior’s annualized cash dividend rate is currently $0.72 per share. This dividend is an eligible dividend for Canadian income tax purposes.

A summary of Superior’s dividends paid for the year 2022 is detailed below. These dividends are considered to be an eligible dividend for Canadian income tax purposes.

Record Date	Payment Date	Dividend
November 30, 2022	December 15, 2022	$0.06
October 31, 2022	November 15, 2022	$0.06
September 30, 2022	October 17, 2022	$0.06
August 31, 2022	September 15, 2022	$0.06
July 31, 2022	August 15, 2022	$0.06
June 30, 2022	July 15, 2022	$0.06
May 31, 2022	June 15, 2022	$0.06
April 30, 2022	May 13, 2022	$0.06
March 31, 2022	April 18, 2022	$0.06
February 28, 2022	March 15, 2022	$0.06
January 31, 2022	February 15, 2022	$0.06
December 31, 2021	January 14, 2022	$0.06
	2022 Total	$0.72

Move to Quarterly Dividend Payments

As previously communicated and subject to approval of future common share dividends by the Board of Directors, Superior intends to move from its current practice of paying monthly dividends to a quarterly common share dividend payment, following the monthly March 2023 dividend to be paid in April 2023. Quarterly dividend payments are expected to be made on the last business day of March, June, September and December to shareholders of record on the 10th day of the corresponding month, if, as and when declared by the Board of Directors. Should the record date fall on a weekend or on a statutory holiday, the record date will be the next succeeding business day following the weekend or statutory holiday. Subject to approval by the Board of Directors, the first quarterly dividend is expected to be paid in June 2023.

About the Corporation

Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing approximately 890,000 customer locations in the U.S. and Canada.

For further information about Superior, please visit Superior’s website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Capital Markets, Tel: (416) 340-6003, E-mail: investor-relations@superiorplus.com, Toll-Free: 1-866-490-PLUS (7587).

Forward-Looking Information

This news release contains certain forward-looking information and statements based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “will”, “expects”, “annualized”, and similar expressions.

In particular, this news release contains forward-looking statements and information relating to: future dividends, which may be declared on Superior’s common shares; the timing and the amount of such dividend payments; and the expected tax treatment thereof. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release regarding, among other things: the success of Superior’s operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms promptly. These forward-looking statements are not guarantees of future performance and are subject to several known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading “Risk Factors” in Superior’s management’s discussion and analysis and annual information form for the year ended December 31, 2021, which can be found at www.sedar.com.

Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.

Contacts

Beth Summers, Executive Vice President and Chief Financial Officer

Tel: (416) 340-6015

or

Rob Dorran, Vice President, Capital Markets

Tel: (416) 340-6003

E-mail: investor-relations@superiorplus.com
Toll-Free: 1-866-490-PLUS (7587).