Superior Plus To Acquire Certarus, Adding A High Organic Growth Low Carbon Cng, Rng And Hydrogen Distribution Platform To Superior’S Existing Energy Distribution Business

Superior Plus Corp. (“Superior”) (TSX: SPB) and Certarus Ltd. (“Certarus”) are pleased to announce that the companies have entered into a definitive arrangement agreement (the “Arrangement Agreement”) for Superior to acquire Certarus, a leading North American low carbon energy solutions provider (the “Acquisition”) for a total acquisition value of $1.05 billion, representing 8.5x 2022E EBITDA. Under the terms of the Acquisition, Superior will acquire all the outstanding common shares of Certarus, representing an equity value of $853 million and assume Certarus’ outstanding senior bank credit and leases with a total value of $196 million. The Certarus shareholders will receive $353 million in cash and $500 million of Superior common shares priced at $10.25 per share, representing approximately 17% pro forma ownership. The transaction has been unanimously approved by the Board of Directors of both Superior and Certarus and is expected to close in the first quarter of 2023, subject to customary closing conditions.