WESTSHORE TERMINALS ANNOUNCES Q3 QUARTERLY DIVIDEND

VANCOUVER, BC, Sept. 19, 2022 /CNW/ - Westshore Terminals Investment Corporation (TSX: WTE) ("Westshore" or the "Corporation") announced today that a dividend of $0.30 per share will be paid on or before October 15, 2022 to shareholders of record on September 30, 2022. The dividend will be designated an "eligible dividend" for Canadian tax purposes. The dividend program going forward is subject to review based on operating performance, market conditions, and other factors.

Through September 16, 2022, year-to-date Westshore loaded 19.0 million tonnes at an average rate of $12.06 per tonne. Commencing September 17, operations halted due to the ILWU Local 502 work stoppage.  We cannot anticipate the duration of the work stoppage; hence we are not able to provide guidance on volumes or rates for 2022 overall until operations resume.

The foregoing statements concerning anticipated throughput volumes, average handling rate and the level of future dividends are forward-looking statements that reflect the current expectations of the Corporation with respect to future events and performance. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether such performance or results will be achieved.

Forward-looking statements are based on information available at the time they are made, assumptions made by management, and management's good faith belief with respect to future events and will be impacted by and are subject to the risks and uncertainties outlined in the Corporation's Annual Information Form that could cause actual performance or results to differ materially from those reflected in the forward-looking statements, historical results or current expectations.

SOURCE Westshore Terminals Investment Corporation

Glenn Dudar, Vice President/General Manager, [phone]