Parkland Income Fund Announces the Purchase of Columbia Fuels

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Red Deer, Alberta, June 15, 2009: Parkland Income Fund (TSX: PKI.UN) today announced that
it has reached an agreement in principle to acquire the fuel distribution business of Columbia
Fuels Ltd. (“Columbia”) for approximately $34.5 million. Headquartered in Victoria BC,
Columbia is a fuel distribution company specializing in home heating oil, bulk petroleum and bio
fuels and operates bulk fuel terminals on Vancouver Island and the Sunshine Coast region of
British Columbia. Completion of the acquisition is subject to, among other things, the settlement
of final documentation and obtaining any necessary third party consents. It is presently expected
that the acquisition will close on or about June 16, 2009 with an effective date of June 1, 2009.

Parkland’s President and CEO Mike Chorlton said “The proposed acquisition of Columbia is
exciting as it is expected to provide a strong operating platform on Vancouver Island including a
strong customer base and storage and delivery capability. It is expected to be accretive to
Parkland earnings immediately.”

The acquisition price of approximately $34.5 million consists of the issuance of Class C Limited
Partnership Units valued at $2,000,000 (at the 10 day volume weighted average price of Parkland
units trading on the TSX immediately prior to the effective date of the acquisition) and the
balance drawn from Parkland’s cash on hand and incremental borrowing. Class C Limited
Partnership Units receive the same monthly distributions as Fund Units, have voting rights and
are convertible into regular Fund units.

Parkland has entered into a credit agreement which will, subject to the satisfaction of customary
banking conditions, increase Parkland’s credit line availability to $265 million from $169 million.
This includes a working capital line, a significant letter of credit facility and a capital facility.
The capital facility is intended to fund acquisitions as well as future organic growth expenditures. 

Parkland Income Fund currently operates retail and wholesale fuels and convenience store
businesses under its Fas Gas Plus, Fas Gas, Race Trac Fuels and Short Stop Food Stores brands
and through independent branded dealers, and transports fuel and other products through its
Distribution division. With approximately 625 locations, Parkland has developed a strong market
niche in Canadian non-urban markets focused in the West and Ontario. The Fund supplies
propane, bulk fuel, heating oil, lubricants, industrial fluids, agricultural inputs and associated
services to commercial and industrial customers in Alberta, British Columbia and the Yukon
Territory under the Neufeld, United Petroleum and Great Northern Oil brands. Additionally,
Parkland operates the Bowden refinery near Red Deer, Alberta as a storage and contractprocessing

 Parkland is focused on creating and delivering value for its unitholders through the continuous
refinement of its site portfolio, increasing revenue diversification through growth in non-fuel
rvenues and active supply chain management.

The Fund’s units trade on the Toronto Stock Exchange (TSX) under the symbol PKI.UN. For
more information, visit

Certain information included herein is forward-looking. Forward-looking statements include,
without limitation, statements regarding the future financial position, business strategy, budgets,
projected costs, capital expenditures, financial results, taxes and plans and objectives of or
involving Parkland. Many of these statements can be identified by looking for words such as
“believe”, “expects”, “expected”, “will”, “intends”, “projects”, “projected”, “anticipates”,
“estimates”, “continues”, or similar words and include but are not limited to, statements
regarding the closing of the acquisition and timing thereof, accretive effects of the acquisition,
the anticipated benefits of the acquisition and the availability of additional funds under
Parkland’s credit line. Parkland believes the expectations reflected in such forward-looking
statements are reasonable but no assurance can be given that these expectations will prove to be
correct and such forward-looking statements should not be unduly relied upon. Forward-looking
statements are not guarantees of future performance and involve a number of risks and
uncertainties some of which are described in the Fund’s annual report, annual information form
and other continuous disclosure documents. Such forward-looking statements necessarily involve
known and unknown risks and uncertainties and other factors, which may cause the Fund’s
actual performance and financial results in future periods to differ materially from any
projections of future performance or results expressed or implied by such forward-looking
statements. Such factors include, but are not limited to: general economic, market and business
conditions; industry capacity; competitive action by other companies; refining and marketing
margins; the ability of suppliers to meet commitments; actions by governmental authorities
including increases in taxes; changes in environmental and other regulations; and other factors,
many of which are beyond the control of Parkland. Any forward-looking statements are made as
of the date hereof and the Fund does not undertake any obligation, except as required under
applicable law, to publicly update or revise such statements to reflect new information,
subsequent or otherwise.

For further information, contact:

Parkland Industries Ltd., Administrator of Parkland Income Fund:

Red Deer: Mike W. Chorlton, President and CEO (403) 357-6400
John G. Schroeder, Vice President and CFO (403) 357-6400

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