Minimum Wage Talks: Who's Looking Out for Small Enterprises?
The government has decided that in 2025 the minimum wage increase will be the largest on record.
New guidelines for the national average minimum wage have been issued by the Central Minimum Wages Council of the Ministry of Health, Labor and Welfare. They call for an increase from the current ¥1,055 to ¥1,118 JPY ($7.14 to $7.57 USD). Such a boost by 6.0% would be the largest ever for the hourly wage.
Real wages, allowing for price fluctuations, were negative for six consecutive months through June. It is commendable that the minimum wage guidelines, which impact the hourly wages of part-time and casual workers, have been significantly raised to support the daily lives of workers. But steady increases in wage levels will also be needed from next fiscal year onward, if we are to realize a virtuous economic cycle.
Going forward, prefectural councils will make individual decisions on minimum wage levels for their areas based on these guidelines. Remedying regional disparities remains an issue, but if the ¥63 target is met, hourly wages will exceed ¥1,000 ($6.77) in all prefectures for the first time. Then-Keidanren chairman Masakazu Tokura (left) and Rengo president Tomoko Yoshino discuss wages in Tokyo on January 22, 2025.
Small and medium-sized enterprises are the most sensitive to the impact of minimum wage hikes. The problem is that they are finding it difficult to make payments.
Small and medium-sized enterprises are already spending a high proportion of their limited profits on labor costs. The "labor share of income," which indicates what percentage of profit is spent on labor costs, is in the 30% range for large companies. However, it is in the 70-80% range for small and medium-sized enterprises.
In urban areas, the hourly wages paid part-time workers are noticeably higher than the minimum wage. The labor shortage in such areas is serious, and if businesses cannot secure personnel, their very survival is at risk.
It is essential that each company make efforts to improve productivity by introducing IT technology so as to generate the capital needed to increase wages.
We would like to see the government support investments that lead to increased productivity. It will also be necessary to further strengthen monitoring of transactions with large companies so that increases in raw material and labor costs for smaller companies can be passed on through transaction prices.
Raising the minimum wage directly translates into increased take-home pay. It is something the government can claim as an achievement even without having to incur large fiscal outlays.
Last fall (2024), Prime Minister Shigeru Ishiba brought forward the government's target date for raising the minimum wage to ¥1,500 ($10.15) from the mid-2030s to sometime before the end of this decade. To achieve this ambitious goal, an increase of more than 7% will be necessary every fiscal year from now onwards.
However, it will be up to private companies to actually increase wages. It would be counterproductive if hasty increases in wage levels result in reduced overtime and work shifts, or job insecurity.
We urge the government to keep this in mind while striving to create an environment that will lead to steady increases.
Author: Editorial Board, The Sankei Shimbun
このページを 日本語 で読む
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
3 hours ago
- Cision Canada
AUXICO ANNOUNCES CORPORATE UPDATE - SALE OF MEXICAN SUBSIDIARY AND APRIL 17, 2025 TECHNICAL PRESENTATION REVIEW
MONTREAL, Aug. 13, 2025 /CNW/ - Auxico Resources Canada Inc. (CSE: AUAG) ("Auxico" or the "Company") announces the completion of the sale of its wholly owned Mexican subsidiary, Auxico Resources S.A. de C.V., for total proceeds of USD $200,000. The transaction follows the option agreement previously announced on April 10, 2025, and was completed through the transfer of all issued and outstanding shares to entities controlled by Concordia Silver Company S.A. de C.V. The Company also announces that it is retracting the technical and scientific information contained in its April 17, 2025 Management Update Call presentation. This information was not prepared or approved by a Qualified Person as required under Regulation 43-101 respecting Standards of Disclosure for Mineral Projects ("Regulation 43-101") and included concentrate grades, production rates, and cost estimates that should not have been disclosed. Auxico did not intend to provide any information of a technical nature that acted as a proxy for the rare earth metals contained in any deposits on the projects currently being operated by the Company, and Auxico further confirms that it has no mineral resources or mineral reserves calculated with respect to its exploration projects. As such, this information should not be relied upon when making an investment decision. To support the review process, the Company has mandated Eugene Puritch, CET, President and Principal Mining Engineer at P&E Mining Consultants Inc., a Qualified Person as defined by Regulation 43-101, to review the presentation. The Company confirms that all future technical disclosures will comply with Canadian securities regulations. About Auxico Resources Canada Inc. Auxico Resources Canada Inc. is a Canadian company that was founded in 2014 and is based in Montreal, trading on the Canadian Stock Exchange (CSE) under the symbol AUAG. Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia and Bolivia. Additional information on Auxico can be found on the Company's website ( or on SEDAR+ ( under "Auxico Resources Canada Inc." The CSE has neither approved nor disapproved the contents of this press release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release. Cautionary Note Regarding Forward-Looking Statements This press release contains statements that constitute "forward-statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the planned studies, drill program and the development of the Minastyc, El Bento/Monte Verde or other Projects, its sampling programs, indications and other mining projects and prospects thereof, related to the Company's operations in Colombia and/or Bolivia. Such statements and information reflect the current view of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various risk factors. These factors include, among others, uncertainties arising from the COVID-19 pandemic, and general economic conditions or conditions in the financial markets. The reader is referred to the Company's public filings for a more complete discussion of such risk factors, and their potential effects, which may be accessed through the Company's profile on SEDAR+ ( Except as required by securities law, the Company does not intend, and does not assume any obligation, to update or revise any forward-looking information, whether as a result of new information, events or otherwise.
Cision Canada
11 hours ago
- Cision Canada
Intellistake Technologies Corp. Appoints Alessandro Spanò, COO of $90M USD Singularity Venture Hub and Former VP of Operations at $1.5B USD Valued SingularityDAO Labs, to Advisory Board to Accelerate Operational Excellence in Decentralized AI and Digital Asset Infrastructure
Chief Operating Officer (" COO") of Singularity Venture Hub (" SVH"), overseeing Incubation and Treasury Management divisions with 15 portfolio companies and over $90M USD in assets under management Former VP of Operations at SingularityDAO Labs, scaling to $1.5B+ USD valuation and securing $20M+ USD in early-stage funding Proven expertise in scalable business frameworks and compliance systems for multi-entity Web3 organizations Cross-sector leadership experience including healthcare operations as Partner in Italy's Fisiokinè Network VANCOUVER, BC, Aug. 13, 2025 /CNW/ - Intellistake Technologies Corp. (CSE: ISTK) (OTCQB: ISTKF) (FSE: E41) ("Intellistake" or the "Company") is pleased to announce the appointment of Alessandro Spanò to its Advisory Board. A seasoned executive specializing in building and scaling ventures in Web3, decentralized finance (" DeFi"), and artificial intelligence (" AI") sectors, Spanò will provide strategic operational guidance to support the Company's growth as a technology company focused on decentralized AI and digital currencies. Spanò brings extensive expertise in operational structuring and multi-entity management from his current role as COO of SVH, where he co-led the platform's creation and now oversees both the Incubation and Treasury Management divisions. Under his operational leadership, the company manages a portfolio of 15 companies and over $90 million USD in assets under management, positioning him at the forefront of Web3 venture scaling and digital asset operations. His proven track record includes his previous role as Vice President of Operations at SingularityDAO Labs, where he played a pivotal role in scaling the organization and leading spin-off acceleration strategies. His operational excellence contributed to projects that collectively reached a fully diluted valuation of over $1.5 billion USD and secured more than $20 million USD in early-stage funding—demonstrating his ability to execute at scale in the rapidly evolving digital asset ecosystem. " Alessandro brings the kind of operational depth that transforms vision into execution—something that's critical as we position to move from business plan to on-chain reality," said Jason Dussault, CEO of Intellistake Technologies Corp. "His expertise in scaling multi-entity Web3 operations isn't theoretical for us—it's directly applicable as we continue to expand our validator infrastructure and begin treasury operations. The institutional frameworks he's built at Singularity Venture Hub provide a proven blueprint for the kind of sophisticated digital asset management we're preparing to implement." Spanò's expertise extends beyond pure technology operations. As a Partner in the Fisiokinè Network—Italy's leading private healthcare network specializing in physiotherapy with multiple medical centers across the country—he contributed to strategic growth and operational development of healthcare facilities, showcasing his versatility in building operational frameworks across diverse sectors. This cross-industry experience provides him with a unique perspective on implementing scalable systems that can adapt to complex regulatory environments—a critical capability as Intellistake navigates the evolving landscape of digital asset regulation. His deep understanding of Web3 operations and compliance frameworks positions him to guide companies in navigating evolving international standards for DeFi and digital asset management. This expertise will be instrumental as the Company executes its three core business pillars across the decentralized AI and digital asset ecosystem. " Joining Intellistake's advisory board represents a natural evolution of our collaboration," said Alessandro Spanò. "What excites me most is their commitment to building institutional-grade operational frameworks from day one. Their proactive approach to infrastructure, compliance, and scalability reflects a clear vision for long-term success at the intersection of decentralized finance and AI. By prioritizing secure systems, regulatory alignment, and future-ready architecture from the outset, Intellistake is positioning itself as a trusted and resilient player capable of supporting both institutional partners and innovative builders in this rapidly evolving space." About Intellistake Intellistake's mission is to provide traditional investors with regulated access to the intersection of artificial intelligence and blockchain technology, through familiar stock exchange mechanisms. The Company seeks to eliminate technical barriers including digital asset wallet management and private key security, while addressing the institutional access gap that has historically limited participation to celebrities and venture capitalists with early access to private AI companies. For additional information on the business of Intellistake please refer to Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" concerning anticipated developments and events related to the Company that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, all statements in respect of the Company's growth and development, the operations and business segments of the Company; the expected contributions of Mr. Spanò, expectations regarding the market for digital currencies and decentralized AI. In certain cases, forward-looking information can be identified by the use of words such as "expects", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "would", or "might" suggesting future outcomes, or other expectations, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain assumptions regarding, among other things, the Company will continue to have access to financing until it achieves profitability; the technology and blockchain industries in which the Company intends to focus its business in will grow at the rate and in the manner expected; the ability to attract qualified personnel; the success of market initiatives and the ability to grow brand awareness; the ability to distribute Company's services; the Company creates strategies to mitigate risks associated with cryptocurrency price fluctuations; the Company remains compliant with all applicable laws and securities regulations; the Company engages and collaborates with local experts, as necessary, to address jurisdiction-specific matters and ensures compliance with foreign regulations to avoid penalties; the Company addresses any potential cybersecurity threats promptly and effectively; and the ability to successfully deploy the new business strategy as a result of the change of business. While the Company considers these assumptions to be reasonable, they may be incorrect. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed by the forward-looking information. Such factors include risks related to general business, economic and social uncertainties; failure to raise the capital necessary to fund its operations; inability to create strategies to mitigate the risks associated with cryptocurrency price fluctuations; the costs of regulation in the digital asset industries increase to the extent that the Company is no longer generating sufficient returns for shareholders; failure to promptly and effectively address cybersecurity threats; insufficient resources to maintain its operations on a competitive basis; and the actual costs, timing and future plans differs expectations; legislative, environmental and other judicial, regulatory, political and competitive developments; the inherent risks involved in the cryptocurrency and general securities markets; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the Company's success may depend on the continued involvement of key personnel, including advisors, whose involvement cannot be guaranteed; institutional adoption of decentralized AI infrastructure remains uncertain and may not occur at the pace or scale anticipated; evolving regulatory frameworks, including those related to AI (such as Canada's proposed Artificial Intelligence and Data Act), may impose additional compliance burdens or restrict certain business activities; valuation figures are based on publicly available market data and internal assessments at the time of the referenced transactions and may not reflect current or future valuations; the volatility of digital currency prices; the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties; delay or failure to receive regulatory approvals; failure to attract qualified personnel, labour disputes; and the additional risks identified in the "Risk Factors" section of the Company's filings with applicable Canadian securities regulators. Although the Company has attempted to identify factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause results not to be as anticipated. Readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update forward-looking information.
National Post
a day ago
- National Post
Superior Announces Q2 2025 Results with Strong First Half; Reaffirms Guidance
Article content All dollar amounts are in USD unless otherwise noted and changes in performance are relative to same period of 2024 unless otherwise noted Article content Adjusted EBITDA (1) in the first half of the year (H1) was up $15.1 million, or 5.4%. Second quarter 2025 Adjusted EBITDA (1) of $33.5 million was down $9.8 million primarily due to lower propane volumes following a strong Q1 H1 Adjusted EBTDA per share (1) of $0.95 was up $0.13. Q2 Adjusted EBTDA per share (1) of $0.05 was down $0.02 H1 Adjusted Net Earnings (Loss) per share (1) of $0.43 was up $0.14. Q2 Adjusted Net Earnings (Loss) per share (1) of $(0.25) was down $0.02 H1 Free Cash Flow per share (1) of $0.81 increased $0.36. Second quarter Free Cash Flow per share (1) of $(0.14) increased by $0.02 Superior Delivers remains on track and contributed $5.0 million to Adjusted EBITDA (1) in H1 and $2.7 million in Q2; Adjusted EBITDA (1) in the CNG business grew $3.8 million, or 4.8%, in H1, and $0.2 million, or roughly flat, in Q2 Superior is reaffirming its 2025 expected Adjusted EBITDA (1) growth rate of approximately 8% Returned approximately C$114.5 million to common shareholders through dividends and share repurchases in H1, including the repurchase of approximately 5.7% of outstanding shares. In Q2, the company repurchased 3.2% of outstanding shares and since November 2024 the company has now repurchased just over 10% of outstanding shares Article content Article content (1) Article content Adjusted EBITDA, Adjusted EBTDA per share, Adjusted Net Earnings per share and Free Cash Flow per share are Non-GAAP Financial Measures. See 'Non-GAAP Financial Measures and Ratios' section below. Article content TORONTO — Superior Plus Corp. (' Superior ' or ' the company ') (TSX: SPB) today released its second quarter results for the period ended June 30, 2025. Article content 'We delivered a strong first-half and continue to build momentum as we advance our Superior Delivers transformation,' said Allan MacDonald, President and Chief Executive Officer. 'As expected, the second quarter reflected seasonally lower volumes for our propane business, particularly following strong Q1 deliveries along with the deferral of some Q2 deliveries as part of our transformation initiatives. Second quarter performance was also impacted by a wholesale supply disruption due to a temporary plant shutdown in California. Superior Delivers remains on track, and we are well positioned for the remainder of the year.' Article content 'I'm also encouraged by the performance of our CNG business, especially given the challenges in the oil and gas sector,' continued MacDonald. 'Through disciplined cost management and strong performance outside of the wellsite business, Certarus grew EBITDA by 5% in the first half of 2025 and maintained its leadership position in the market as the sector navigates a temporary cyclical slowdown.' Article content Three Months Ended Six Months Ended June 30 June 30 (millions of dollars) 2025 2024 (2) 2025 2024 (2) U.S. Propane Adjusted EBITDA (1) – 9.6 163.6 153.5 Canadian Propane Adjusted EBITDA (1) 12.6 13.5 61.7 59.2 CNG Adjusted EBITDA (1) 27.4 27.2 82.5 78.7 Adjusted EBITDA from operations (1) 40.0 50.3 307.8 291.4 Corporate Operating Costs (1) (6.5) (7.0) (13.8) (12.5) Adjusted EBITDA (1) 33.5 43.3 294.0 278.9 Note: Beginning in Q1 2025, the contribution from wholesale activities has been rolled into the U.S. and Canadian Propane segments to better reflect how the business operates. (1) Adjusted EBITDA from operations, Corporate Operating Costs and Adjusted EBITDA are Non-GAAP Financial Measures. See 'Non-GAAP Financial Measures and Ratios' section below. (2) Comparative figures have been restated to be consistent with Superior's segment disclosure. See 'Overview of Superior and Basis of Presentation' for more information about the change in segment reporting. Article content Financial Overview Three Months Ended Six Months Ended June 30 June 30 (millions of dollars, except per share amounts) 2025 2024 2025 2024 Revenue 423.2 422.9 1,431.6 1,320.6 Gross Profit 228.9 235.2 727.8 700.4 Net earnings (loss) for the period (14.7) (45.3) 131.7 39.9 Net earnings (loss) for the period attributable to Superior per share, basic and diluted $ (19.4) $ (50.0) $ 122.3 $ 30.5 Adjusted Net Earnings per share (1)(2) $ (0.25) $ (0.23) $ 0.43 $ 0.29 Adjusted EBITDA from operations (1) 40.0 50.3 307.8 291.4 Adjusted EBITDA (1) 33.5 43.3 294.0 278.9 Adjusted EBITDA per share (1)(3) $ 0.13 $ 0.16 $ 1.12 $ 1.00 Adjusted EBTDA per share (1)(3) $ 0.05 $ 0.07 $ 0.95 $ 0.82 Free Cash Flow per share (1)(2) $ (0.14) $ (0.16) $ 0.81 $ 0.45 Cash dividends declared on common shares Cash dividends declared per share C$ 0.045 C$ 0.18 C$ 0.09 C$ 0.36 (1) Adjusted EBITDA from operations, Adjusted EBITDA, Adjusted EBTDA per share, Adjusted Net Earnings per share and Free Cash Flow per share are Non-GAAP Financial Measures. See 'Non-GAAP Financial Measures and Ratios' section below. (2) The basic weighted average number of outstanding shares for the three and six months ended June 30, 2025 was 227.9 million and 231.7 million (three and six months ended June 30, 2024 was 248.6 million and 248.6 million). The preferred share dividends are deducted from the numerator in this calculation. (3) The diluted weighted average number of outstanding shares for the three and six months ended June 30, 2025 was 257.9 million and 261.7 million (three and six months ended June 30, 2024 was 278.6 million and 278.6 million). The diluted weighted average number of shares assumes the exchange of the issued and outstanding preferred shares into common shares. There were no other dilutive instruments for the three and six months ended June 30, 2025 and 2024. Article content Propane Distribution Results and Superior Delivers (changes in performance are relative to the same period of 2024) Article content First half 2025 adjusted EBITDA (1) across propane operations increased by $12.6 million, or 5.9%, driven by strong volumes in Q1 and contribution from Superior Delivers. Q2 Adjusted EBITDA (1) across propane operations declined by $10.5 million due to the timing of deliveries following high-volumes in Q1 and the impact from the company's targeted improvement in delivery efficiency reducing customers' in-tank volume during the quarter. Within the wholesale business, which is now disclosed as part of the U.S. and Canadian propane segments, a temporary supply disruption in California also negatively impacted margins in the second quarter. Results from Superior Delivers continue to progress in line with expectations, contributing $5.0 million to Adjusted EBITDA (1) in the first half and $2.7 million in Q2. Within the Customer Growth pillar, the company continues to advance sophisticated pricing analytics and implement new pricing strategies. Through the Cost-to-Serve pillar, the company has begun schedule optimization and is utilizing more sophisticated delivery efficiency tools which are performing well. Additionally, scheduling optimization has been successfully deployed to more than half of the company's markets across North America and is expected to be in all markets prior to the return of the high-volume heating season. The company continues to expect Superior Delivers to contribute $20 million in Adjusted EBITDA (1) in 2025 and remains on track to deliver at least $70 million of incremental Adjusted EBITDA (1) by 2027. Article content Q2 CNG Results (changes in performance are relative to the same period in 2024) Article content H1 Adjusted EBITDA (1) increased by 4.8% to $82.5 million; Q2 Adjusted EBITDA (1) increased 0.7% to $27.4 million as strong results in the company's industrial, renewable natural gas ('RNG') and Hydrogen businesses largely offset competitive pressures in the wellsite business. The company's industry-leading fleet of mobile storage units ('MSUs'), averaged 869 in the second quarter, up 14% mainly due to additions made in the second half of 2024. Q2 volumes of 7,186,000 MMBtu increased 2.5%, while MMBtu per MSU declined by 10% reflecting wellsite market conditions and increased mix of revenue from industrial, RNG and Hydrogen segments. Revenue from Industrial, RNG, and Hydrogen increased 48%, driven by consistent work over the past several quarters to expand our business with new customers and projects in these industry segments. Certarus collaborated with Mitsubishi Power and Georgia Power to deliver the world's largest hydrogen fuel blending demonstration on an advanced class gas turbine for power generation across several weeks in May and June. The company's efficiency improvement actions drove a decrease of approximately 5% in operating cost per MMBtu during the second quarter. Article content Quarterly Dividend and Common Share Repurchases Article content Consistent with its previously communicated capital allocation strategy, Superior expects to allocate approximately C$140 million annually to share repurchases. The company is on track with its share repurchase plans and expects to renew its NCIB in mid-Q4. During H1 2025, Superior repurchased 13.6 million common shares, or approximately 5.7% of its outstanding public float, at an average price of C$6.87 per share for a total of approximately C$93.4 million, or C$95.4 million including related taxes. During Q2 2025, Superior repurchased 7.4 million common shares, or approximately 3.2% of its outstanding public float, at an average cost of C$7.30 per share for a total of approximately C$53.2 million. Declaring a quarterly common share dividend of C$0.045 per share, payable to shareholders of record as of September 29, 2025. The common share dividend will be payable on October 15, 2025. Debt and Leverage Article content The company's Leverage Ratio (1) as of Q2 2025 was 3.8x, compared to 3.7x at Q1 2025 due to the higher US dollar value of Canadian dollar denominated debt and lower Q2 2025 Adjusted EBITDA. Q2 2025 leverage was flat compared with 3.8x at Q2 2024. The company now expects to end 2025 with a Leverage Ratio of ~3.7x, up slightly from the prior target of 3.6x, mainly due to a stronger-than-forecast Canadian dollar. The company is maintaining its mid-2027 target of 3.0x. On August 8 th, the company and its syndicate of lenders executed an amendment to both secured revolving credit facilities. Under the amendments, the C$750M core revolver term has been extended to August 2030 and the limit has been converted to US$600M. The C$550M side car facility term has been extended to August 2028. These amendments provide the company with ample flexibility to execute its strategic plan. Article content MD&A and Financial Statements Article content Superior's MD&A and the unaudited condensed Consolidated Financial Statements as at and for the quarter ended June 30, 2025 provide a detailed explanation of Superior's operating results. These documents are available online on Superior's website at Article content Superior Plus Financial Reports Article content and on Superior's profile at Article content SEDAR+ Article content . Article content 2025 Second Quarter Conference Call Article content A conference call and webcast to discuss the 2025 second quarter financial results will be held at 8:30 AM EDT on Wednesday, August 13, 2025. To register as a participant, please use the following link: Article content Register Here Article content . The webcast will be available for replay on Superior's website at: Article content Article content under the Events section. Article content About Superior Plus Article content Superior is a leading North American distributor of propane, compressed natural gas, renewable energy and related products and services, servicing approximately 750,000 customer locations in the U.S. and Canada. Through its primary businesses, propane distribution and CNG, RNG and hydrogen distribution, Superior safely delivers low carbon Article content 1 Article content fuels to residential, commercial, utility, agricultural and industrial customers not connected to a pipeline. By displacing more carbon intensive fuels, Superior is a leader in the energy transition and helping customers lower operating costs and improve environmental performance. Article content 1 Superior defines 'low carbon' and 'lower carbon' fuels as those with a lower carbon intensity than fossil fuels that may be utilized in the same application (e.g. diesel, gasoline). Article content Forward-Looking Information Article content This news release contains information or statements that are or may be 'forward-looking statements' within the meaning of applicable Canadian securities laws. When used in this presentation, the words 'may', 'will', 'should', 'expect', 'plan', 'anticipate', 'believe', 'estimate', 'predict', 'forecast', 'project', 'intend', 'target', 'potential', 'continue' or the negative of these terms or terminology of a similar nature as they relate to Superior or an affiliate/subsidiary of Superior are intended to identify forward-looking statements. Forward-looking statements in this news release include, without limitation, information and statements relating to: Superior's future financial position, the anticipated initiatives, impact of, and our ability to successfully execute on the Article content transformation, expected 2025 EBITDA growth, expected 2025 Adjusted EBITDA growth of $20 million attributable to Article content Superior Delivers Article content initiatives in 2025 and $70+ million by 2027, expected allocation of capital to share repurchases in 2025, expected renewal of an NCIB in 2025, anticipated increases in shareholder value and expected Leverage Ratio at 2025 and the company's mid-term target leverage ratio. Article content Forward-looking information is provided to provide information about management's expectations and plans for the future and may not be appropriate for other purposes. Forward-looking information herein is based on various assumptions, and expectations that Superior believes are reasonable in the circumstances, including assumptions about our ability to execute on the goals and targets of the Superior Delivers transformation, including $35 million in Adjusted EBITDA growth from cost-to-serve improvements, $30 million in Adjusted EBITDA growth from customer growth initiatives; and $5 million in Adjusted EBITDA growth from the company's wholesale business activities, in each case, from 2025 to 2027; foreign exchange rates; competition; expected average weather; interest rates remaining flat with the current level; number and average acquisition price of common shares repurchased; management's estimates and expectations in relation to future economic and business conditions and the resulting impact on growth and accretion in various financial metrics; the absence of significant undisclosed costs or liabilities associated with acquisitions; and other assumptions disclosed in Superior's 2025 Q2 MD&A available at SEDAR+ at and on Superior's website at No assurance can be given that these assumptions and expectations will prove correct. 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 and businesses it has acquired. Superior cautions that the assumptions used to prepare such forward-looking information, including estimated financial guidance, could prove to be incorrect or inaccurate. Article content 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 expectations contemplated, expressed or implied in the forward-looking information. These risks and uncertainties include the success and of, and timing to achieve, the initiatives being pursued pursuant to the Superior Delivers program, ongoing capital requirements of the businesses, weather differing materially from the five year average weather, market conditions, demand and competition for CNG in jurisdictions where CNG operates, economic activity in the oil and gas sector, commodity prices, risks relating to incorrect assessments of value when making acquisitions, failure to realize expected cost-savings and synergies from acquisitions, increases in debt service charges, the loss of key personnel, fluctuations in foreign currency and exchange rates, fluctuations in commodity prices, increasing rates of inflation, inadequate insurance coverage, liability for cash taxes, counterparty risk, compliance with environmental laws and regulations, reduced customer demand, operational risks involving our facilities and equipment, force majeure, labour relations matters, our ability to access external sources of debt and equity capital, and the risks identified in (i) our 2024 Annual MD&A under the heading 'Risk Factors' and (ii) Superior's most recent Annual Information Form. The preceding list of assumptions, risks and uncertainties is not exhaustive. Article content When relying on our 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 document 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. Article content The estimates and targets regarding Superior's future financial performance, including, but not limited to, estimated target of incremental Adjusted EBITDA of $70 million from the Superior Delivers transformation by 2027, are provided herein to assist readers in understanding Superior's estimated and targeted financial results, and such information may not be appropriate for other purposes. Superior and its management believe that such information has been prepared based on assumptions that are reasonable in the circumstances, reflecting management's best estimates and judgements, and represents, to the best of management's knowledge and opinion, Superior's estimated and targeted financial results. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results. Article content Non-GAAP Financial Measures and Ratios Article content Throughout this news release, Superior has identified specific terms, including ratios, that it uses that are not standardized measures under International Financial Reporting Standards ('Non-GAAP Financial Measures') and, therefore may not be comparable to similar financial measures disclosed by other issuers. Information to reconcile these Non-GAAP Financial Measures to the most directly comparable financial measures in Superior's condensed consolidated financial statements as at and for the three months ended June 30, 2025 ('Q2 2025 Financial Statements') is provided below. Certain additional disclosures for these Non-GAAP Financial Measures, including an explanation of the composition of these financial measures, how they provide helpful information to an investor, and any additional purposes management uses for them, are incorporated by reference from the 'Non-GAAP Financial Measures and Reconciliations' section in Superior's 2025 Second Quarter MD&A dated August 13, 2025, available on Article content . Article content Adjusted EBITDA is consistent with the Segment profit (loss) disclosed in Note 18 Reportable Segment Information of the Financial Statements. Adjusted EBITDA from operations is the sum of U.S. Propane, Canadian Propane, and CNG Segment profit (loss). Adjusted EBITDA per share is calculated by dividing Adjusted EBITDA by the weighted average outstanding shares assuming the exchange of the issued and outstanding preferred shares into common shares. Article content Adjusted EBTDA is calculated as Adjusted EBITDA less interest on borrowings and interest on lease liability. Adjusted EBTDA per share is calculated by dividing Adjusted EBTDA by the weighted average outstanding shares assuming the exchange of the issued and outstanding preferred shares into common shares. Article content Corporate Operating Costs are defined as Corporate Segment profit (loss) disclosed in Note 18 Reportable Segment Information of the condensed consolidated financial statements as at and for the three months ended June 30, 2025. Article content Capital Expenditures are inclusive of purchases of property, plant and equipment and intangible assets and lease additions. Article content Leverage Ratio is determined by dividing Superior's Net Debt by its Pro Forma Adjusted EBITDA, both of these components are Non-GAAP Financial Measures. Proforma Adjusted EBITDA is Adjusted EBITDA calculated on a 12-month basis giving effect to acquisitions, if any, to the first day of the calculation period. Proforma Adjusted EBITDA was calculated by taking the sum of the year ended December 31, 2024 Adjusted EBITDA ($455.5 million) and the Adjusted EBITDA for the six months ended June 30, 2025 ($294.0 million) less the Adjusted EBITDA for the six months ended June 30, 2024 ($278.9 million). Net Debt is calculated as the sum of borrowings after deferred financing fees ($1,809.2 million) reduced by cash and cash equivalents ($21.6 million) as at June 30, 2025. Article content Free Cash Flow per share is calculated as Segment Profit (Loss) ($33.5 million) less interest expense ($20.7 million), taxes paid ($10.6 million), capital expenditures ($27.5 million), transaction, restructuring and other costs ($2.4 million) and the preferred share dividend paid in the period ($4.7 million). Free Cash Flow per share is calculated by dividing Free Cash Flow by the weighted average common outstanding shares. This calculation excludes changes in non-cash operating working capital and other, which can fluctuate meaningfully and from quarter to quarter and can therefore detract from the purpose of the metric which is to demonstrate the performance from the underlying operations. Article content Adjusted Net Earnings is calculated as segment profit for the period ($33.5 million) and adjusting for depreciation and amortization ($64.5 million), taxes ($2.5 million), gain (loss) on disposal ($1.6 million), finance expense ($21.4 million) and the preferred share dividend paid in the period ($4.7 million). Adjusted Net Earnings per share is calculated by dividing Adjusted Net Earnings by the weighted average common shares outstanding. This metric was changed from the prior quarter to align the treatment of gains (losses) on financial and non-financial derivatives and foreign currency translation to be consistent with Adjusted EBITDA. Article content Article content Article content Article content Article content Contacts Article content Superior Plus Corp. Article content Article content Website: Article content Article content Article content E-mail: Article content investor-relations@ Article content Article content Article content Article content
