For Immediate Release

Release Date: August 31, 2016

SAINT JOHN, NB — Irving Oil and former company president Mayank (“Mike”) Ashar announced today that their ongoing legal dispute has been resolved.  The settlement ends the action that Mr. Ashar filed against Irving Oil in March 2015 in the Court of the Queen’s Bench of New Brunswick.  Mr. Ashar and Irving Oil are pleased to have concluded the matter on amicable terms.  The terms of the settlement are confidential.