WESTSHORE TERMINALS ANNOUNCES $165 MILLION CREDIT FACILITY

VANCOUVER, BC, Feb. 20, 2026 /CNW/ - Westshore Terminals Investment Corporation (TSX: WTE) (the "Corporation") is pleased to announce that its wholly-owned subsidiary Westshore Terminals Limited Partnership ("Westshore"), as borrower, the Corporation, as obligor, and Westshore Terminals Ltd., Westshore's general partner (the "General Partner") have entered into an agreement for a $165 million revolving credit facility (the "Credit Facility") with Royal Bank of Canada ("RBC") and The Bank of Nova Scotia ("BNS"), as lenders. RBC is acting as Lead Arranger, Sole Bookrunner, and Administrative Agent for the Credit Facility. All references to dollars ($) in this news release are in Canadian dollars.

The Credit Facility is available for general corporate purposes, including Westshore's commitments relating to the potash project. The Credit Facility constitutes an increase to Westshore's existing $40 million operating facility, which was undrawn as at February 20, 2026 and was scheduled to mature on August 31, 2026.

Key terms of the Credit Facility include the following:

• Facility Amount: $165 million revolving operating loan available in Canadian and US dollars, reducing to $100 million with effect from December 31, 2028, and further reducing to $50 million with effect from December 31, 2029. The Credit Facility includes a $15 million swingline facility (the "Swingline Facility"). The Credit Facility is available by way of CORRA/SOFR loans and Canadian Prime/US Base Rate loans. The Swingline Facility is available by way of Canadian Prime/US Base Rate loans and letters of credit.
• Term: Extension of the existing term, such that the Credit Facility matures on February 20, 2030 (four years from closing).
• Interest Rate: For Canadian dollar borrowings, at Westshore's option, (a) Term Canadian Overnight Repo Rate Average ("CORRA") or Daily Compounded CORRA, in each case plus the applicable CORRA Adjustment (0.29547% for one-month terms and 0.32138% for three-month terms) plus 1.25%, or (b) Prime Rate plus 0.25%. For US dollar borrowings, at Westshore's option, (a) Term Secured Overnight Financing Rate ("SOFR") plus the Term SOFR Adjustment (0.10% per annum) plus 1.25%, or (b) Base Rate plus 0.25%. For letters of credit under the Swingline Facility, the amount of such letter of credit plus 0.25%.
• Fee: The Credit Facility bears customary upfront, standby and agency fees for a facility of this nature.
• Repayment: Interest only, with bullet repayment on maturity and required repayments in line with the Credit Facility limit step-downs on December 31, 2028 and December 31, 2029 (as described above).
• Financial Covenant: Trailing twelve-month EBITDA of the Corporation shall not be less than $75 million and the aggregate distributions made by the Corporation on its common shares in any consecutive prior four quarters may not exceed the trailing twelve-month EBITDA of the Corporation.
• Security: The Credit Facility is secured by an existing debenture, in the principal amount of $195 million, creating a fixed and specific charge on all of Westshore's assets, which debenture is pledged to RBC, as administrative agent. The Credit Facility is also guaranteed by the General Partner and the Corporation (together, the "Guarantors"). The Guarantors' obligation under their respective guarantees are secured by general security agreements in favour of RBC, as administrative agent, creating a fixed charge over each Guarantor's present and after-acquired personal property and a floating charge over each Guarantor's real property.
• Conditions Precedent: Advances under the Credit Facility are subject to the satisfaction of certain customary conditions precedent.

The summary of certain key terms of the Credit Facility above is qualified in its entirety by the full text of the Fourth Amended and Restated Credit Agreement dated February 20, 2026 among Westshore, the Corporation, the General Partner, RBC and BNS, a copy of which will be available on SEDAR+ (www.sedarplus.ca) under the Corporation's issuer profile.

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information includes statements regarding the anticipated use of proceeds from the Credit Facility, the satisfaction of conditions precedent to drawdown under the Credit Facility, and the scheduled reductions in the Credit Facility limit in 2028 and 2029. Forward-looking statements reflect the current expectations of the Corporation with respect to future events and performance and should not be read as guarantees of future events or performance and will not necessarily be accurate indications of whether such events or performance 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 risks and uncertainties, including those 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

For further information, please contact: Glenn Dudar, Chief Executive Officer, [phone]