Financial Outlook

(millions of dollars, except per share amounts)	2009 ⁽¹⁾ Prior	2009 ⁽²⁾⁽⁴⁾⁽⁵⁾⁽⁶⁾ Current
EBITDA from operations
Fuel Distribution	95-105	95-105
Specialty Chemicals	95-105	95-105
Construction Products Distribution	20-25	20-25
Fixed-Price Energy Services	9-12	9-12
Adjusted operating cash flow per share	$1.95-$2.10	$1.90-$2.05
Dividends paid per share	$1.62	$1.62
Senior Debt/EBITDA Ratio ⁽³⁾	1.9	2.0
Total Debt/EBITDA Ratio ⁽³⁾	3.0	3.2

⁽¹⁾	As provided in Superior’s 2009 Second Quarter Financial Results.
⁽²⁾	The assumptions, definitions, and risk factors relating to the Financial Outlook are discussed in Management’s Discussion and Analysis of the 2009 Third Quarter Results.
⁽³⁾	Superior’s debt ratios take into account the impact of the off-balance sheet receivable sales program amounts, the efficiency and growth projects and excludes Port Edwards project debt of $150 million (US$130 million) as well as project EBITDA contribution. Including the Port Edwards project debt with no corresponding EBITDA would result in a year-end Senior Debt to EBITDA ratio of 2.6x and Total Debt to EBITDA ratio of 3.8x.
⁽⁴⁾	The current 2009 financial outlook includes the acquisitions of SPI and SRH which closed on September 24, 2009 and September 30, 2009, respectively.
⁽⁵⁾	The current 2009 financial outlook includes the convertible debenture, common share, and senior unsecured debenture financings as discussed in Management’s Discussion and Analysis of the 2009 Third Quarter Results.
⁽⁶⁾	The current 2009 financial outlook does not include any benefit or cost related to the announced GES acquisition on November 4, 2009.

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