June 15, 2018 - 7:30 AM EDT
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Superior Plus Updates Evolution 2020 Goals and Will Host 2018 Investor Day


Superior’s (TSX: SPB) 2018 Investor Day will be held today at the One King West hotel in Toronto, Ontario, with the formal presentation scheduled to begin at 9 a.m. EDT. An overview of the acquisition of NGL Propane and a detailed update on Superior’s current operations, integration of Canwest Propane, financial position and Evolution 2020 will be presented. Evolution 2020 is a strategic initiative which historically has included an aspirational goal to increase EBITDA from operations by a range of $50 to $150 million by the end of 2020 as compared to 2016. Superior will provide an update on its progress on the Evolution 2020 initiative as part of the presentation, including its new aspirational goal of increasing EBITDA from operations by a range of $200 to $250 million by the end of 2020 as compared to 2016.

A copy of the presentation to be used by Superior in conjunction with Investor Day will be posted on Superior's website today at 8:30 a.m.

Webcast of Investor Day Presentation
A live audio webcast of the meeting will be accessible from Superior's website at www.superiorplus.com under the webcasts section. Additionally, the meeting can be accessed by phone through the following line: 1-844-389-8661.

About the Corporation
Superior consists of two primary operating businesses: Energy Distribution includes the distribution of propane and distillates, and supply portfolio management; and Specialty Chemicals includes the manufacture and sale of specialty chemicals.

Forward Looking Information
The Evolution 2020 aspirational goal with respect to EBITDA from operations may be considered to be forward-looking information within the meaning of applicable Canadian securities laws. This forward-looking information is provided for the purpose of providing information about certain of management’s operational goals for the future and may not be appropriate for other purposes. It is based on various assumptions and expectations that Superior believes are reasonable in the circumstances. No assurance can be given that these assumptions and expectations will prove to be correct or that Superior will be able to achieve the aspirational goals which management has set. Those assumptions and expectations are based on information currently available to Superior, including information obtained from third party industry analysts and other third party sources, and the historic performance of Superior’s businesses, as well as the historic performance of businesses which it has recently acquired or has agreed to acquire. Such assumptions include anticipated financial performance, current business and economic trends, the amount of future dividends paid by Superior, business prospects, utilization of tax basis, regulatory developments, currency, exchange and interest rates, future commodity prices relating to the oil and gas industry, future oil rig activity levels, trading data, cost estimates, Superior’s ability to obtain financing on acceptable terms, the successful completion of acquisitions contributing approximately $10 million to $200 million in annual EBITDA (including synergies), organic growth of approximately 3-5% in annual EBITDA for each business, the anticipated and sustained recovery in the chlor-alkali sector within Specialty Chemicals and no significant divestitures or changes in the strategic direction of the business. The forward looking information is also subject to the risks and uncertainties set forth below.

By its very nature, forward-looking information involves numerous assumptions, risks and uncertainties, both general and specific. Should one or more of these risks and uncertainties materialize or should underlying assumptions prove incorrect, as many important factors are beyond our control, Superior’s actual performance and financial results may vary materially from those estimates and intentions contemplated, expressed or implied in the forward-looking information. These risks and uncertainties include incorrect assessments of value when making acquisitions, increases in debt service charges, the loss of key personnel, fluctuations in foreign currency and exchange rates, inadequate insurance coverage, liability for cash taxes, counterparty risk, compliance with environmental laws and regulations, reduced customer demand, operational risks involving our facilities, force majeure, labour relations matters, Superior’s ability to access external sources of debt and equity capital, and the risks identified in Superior’s most recent Annual Information Form. The preceding list of assumptions, risks and uncertainties is not exhaustive. Readers are also encouraged to review a copy of the presentation to be used by Superior in conjunction with Investor Day for further detailed information in respect of the Evolution 2020 strategic initiative.

When relying on forward-looking information to make decisions with respect to Superior, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Any forward-looking information is provided as of the date of this release and, except as required by law, Superior does not undertake to update or revise such information to reflect new information, subsequent or otherwise. For the reasons set forth above, investors should not place undue reliance on forward-looking information.

Non-GAAP Financial Measures
In this release, Superior has used the following term that is not defined by International Financial Reporting Standards (a “Non-GAAP Financial Measure”), but is used by management to evaluate the performance of Superior and its business: earnings before interest, taxes, depreciation and amortization (“EBITDA”) from operations. This measure may also be used by investors, financial institutions and credit rating agencies to assess Superior’s performance and ability to service debt. Non-GAAP financial measures do not have standardized meanings prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies. Non-GAAP measures should not, therefore, be considered in isolation or used in substitute for measures of performance prepared in accordance with GAAP. In particular, investors are cautioned that EBITDA from operations should not be construed as an alternative to net earnings, cash flow from operating activities or other measures of financial results determined in accordance with GAAP as an indicator of Superior’s performance.

Securities regulations require that non-GAAP financial measures are clearly defined, qualified and reconciled to their most comparable GAAP financial measures. Except as otherwise indicated, these non-GAAP financial measures are calculated and disclosed on a consistent basis from period to period. Specific items may only be relevant in certain periods.

EBITDA from operations is defined as Adjusted EBITDA excluding costs that are not considered representative of Superior’s underlying core operating performance, including gains and losses on foreign currency hedging contracts, corporate costs and transaction and other costs. Adjusted EBITDA represents earnings before interest, taxes, depreciation, amortization, losses (gains) on disposal of assets, finance expense, restructuring costs, transaction and other costs, and unrealized gains (losses) on derivative financial instruments. Management uses EBITDA from operations to set targets for Superior (including annual guidance and variable compensation targets). EBITDA from operations and Adjusted EBITDA are reconciled to net earnings before income taxes.

See “Non-GAAP Financial Measures” in Superior’s most recent MD&A for further discussion of non-GAAP measures used by Superior and their reconciliations.

For further information about Superior, please visit our website at: www.superiorplus.com

Superior Plus Corp.
Beth Summers, 416-340-6015
Executive Vice President and Chief Financial Officer
Rob Dorran, 416-340-6003
Vice President, Investor Relations and Treasurer
[email protected]
Toll Free: 1-866-490-PLUS (7587).

Source: Business Wire (June 15, 2018 - 7:30 AM EDT)

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