WESTSHORE TERMINALS Q1 REPORT, Q2 DIVIDEND, AND BOARD AND EXECUTIVE OFFICER CHANGES

VANCOUVER, BC, May 2, 2025 /CNW/ - Westshore Terminals Investment Corporation (TSX: WTE) ("Westshore" or the "Corporation") announced today that it has filed its earnings report for the first quarter ended March 31, 2025, and related management's discussion and analysis with the Canadian security regulatory authorities. Copies of the documents are available on SEDAR+ at www.sedarplus.ca and the Corporation's website at www.westshore.com.

The Corporation also announced today that a dividend of $0.375 per share will be paid on or before July 15, 2025, to shareholders of record on June 30, 2025. The dividend will be designated an "eligible dividend" for Canadian tax purposes.

The Corporation also announced today that William Stinson has informed the Corporation that he will not stand for re-election as a director at the 2025 annual general meeting of the Corporation (the "AGM") and, effective as of the AGM, he will retire as Chief Executive Officer of the Corporation and President of Westshore Terminals Ltd. (the "General Partner"), the general partner of Westshore Terminals Limited Partnership ("Westshore LP").

Effective upon Mr. Stinson's retirement, the Board will appoint Mr. Dallas Ross as Chair of the Board and Mr. Ross will resign as Chief Financial Officer of the Corporation. The Board will appoint Mr. Glenn Dudar, currently Vice President and General Manager of Westshore LP, as Chief Executive Officer of the Corporation and President of the General Partner. Mr. Dudar is being nominated for election as a director of the Corporation at the AGM. Effective upon Mr. Ross' resignation as Chief Financial Officer, the Board will appoint Ms. Angela Morfitt, currently Director of Finance and Corporate Services of Westshore LP, as Chief Financial Officer of the Corporation. In addition to these additional roles, Mr. Dudar and Ms. Morfitt will continue with their current duties with Westshore LP.

Mr. Stinson has served as a director/trustee since the initial public offering of the Corporation's predecessor in 1997 and has been Chair of the Board of Directors since 2002 and the Chief Executive Officer of the Corporation since 2007.

Mr. Ross commented, "On behalf of the Board and the Corporation, I would like to thank Bill for his invaluable contributions to Westshore.  Bill's vast experience through his extensive and distinguished business career have helped Westshore navigate multiple changes since it went public in 1997, positioning it well for the decades to come."

In addition to the retirement of Mr. Stinson, two other directors of the Corporation will not stand for re-election at the AGM. The nominees for election as directors at the AGM will be detailed in the Corporation's management information circular.

SOURCE Westshore Terminals Investment Corporation

For further information, please contact: Glenn Dudar, Vice President/General Manager, [phone]