News

TORONTO, Ontario, May 30, 2024 – Chemtrade Logistics Income Fund (TSX: CHE.UN) (“Chemtrade” or the “Fund”) today announced that the Toronto Stock Exchange (“TSX”) has accepted its notice of intention to proceed with a normal course issuer bid (“NCIB”).

Under the NCIB, Chemtrade is authorized to purchase up to 11,672,524 of its units (out of the 117,172,629 units outstanding as of May 28, 2024) representing approximately 10% of Chemtrade’s public float (being 116,725,246 units) as of May 28, 2024. The NCIB commences on June 3, 2024 and will terminate on June 2, 2025 or such earlier date that Chemtrade completes purchases.

Purchases of units will be effected through the facilities of the TSX and/or alternative Canadian trading systems and will be made by means of open market transactions, or such other means as may be permitted by the TSX, including block purchases of units. Daily purchases on the TSX will be limited to a maximum of 71,092 units, representing 25% of the average daily trading volume for the six months ended April 30, 2024 (being 284,368 units), except where purchases are made in accordance with the block purchase exception of the TSX rules. All units purchased by Chemtrade under the NCIB will be cancelled.

The price that Chemtrade will pay for any units acquired by it will be the market price of the units on the TSX and/or alternative Canadian trading systems at the time of acquisition or such other price as may be permitted by the TSX.

Chemtrade may have funds available from time to time that are not required for operations or investment. In deciding to establish the NCIB, the Board of Trustees of Chemtrade believes that from time to time the units trade in a price range that does not adequately reflect the value of the units in relation to Chemtrade’s business and its future business prospects. Chemtrade believes that the purchase of units under the NCIB is a suitable use of such funds in light of the potential benefits to remaining unitholders. Although Chemtrade presently intends to purchase units under its NCIB, there can be no assurances that any such purchases will be completed and purchases may be suspended by Chemtrade at any time.

In connection with the NCIB, Chemtrade has entered into an automatic purchase plan with its designated broker to allow for purchases of units during certain pre-determined blackout periods, subject to certain parameters as to price and number of units. Outside of these pre-determined black-out periods, units will be purchased in accordance with management’s discretion, subject to applicable law. The plan constitutes an automatic plan for purposes of applicable Canadian securities legislation and has been pre-cleared by the TSX.

Caution Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of certain securities laws, including the Securities Act (Ontario). Forward-looking statements can be generally identified by the use of words such as “anticipate”, “continue”, “estimate”, “expect”, “expected”, “intend”, “may”, “will”, “project”, “plan”, “should”, “believe” and similar expressions. Specifically, forward-looking statements in this news release include statements respecting certain future expectations about the NCIB and any purchases of units thereunder.

Forward-looking statements in this news release describe the expectations of the Fund and its subsidiaries as of the date hereof. These statements are based on assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risks and uncertainties detailed under the “Risk Factors” section of the Fund’s latest Annual Information Form and the “Risks and Uncertainties” section of the Fund’s most recent Management’s Discussion & Analysis.

Although the Fund believes the expectations reflected in these forward-looking statements and the assumptions upon which they are based are reasonable, no assurance can be given that actual results will be consistent with such forward-looking statements, and they should not be unduly relied upon. With respect to the forward-looking statements contained in this news release, the Fund has made assumptions regarding: there being no significant disruptions affecting the operations of the Fund and its subsidiaries.

Except as required by law, the Fund does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement.

Further information can be found in the disclosure documents filed by Chemtrade Logistics Income Fund with the securities regulatory authorities, available at www.sedarplus.com.

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For further information:

Rohit Bhardwaj Chief Financial Officer Tel: (416) 496-4177

Ryan Paull Corporate Development Manager Tel: (973) 515-1831

Website: www.chemtradelogistics.com