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HollyFrontier Corporation: Corporate Profile

HollyFrontier Corporation (NYSE: HFC) is an independent petroleum refiner in the United States with operations throughout the mid-continent, southwestern and Rocky Mountain regions. Subsidiaries of HollyFrontier Corporation produce and market gasoline, diesel, jet fuel, asphalt, heavy products and specialty lubricant products. The Company is headquartered in Dallas, Texas and operates five complex refineries with 457,000 barrels per day of crude oil processing capacity. Subsidiaries of HollyFrontier Corporation manufacture and market lubricants and specialty products through a subsidiary. Subsidiaries of HollyFrontier Corporation manufacture and market asphalt products and other heavy products at our five refineries and at our asphalt terminals in Arizona and New Mexico. The Company owns a 39% interest in Holly Energy Partners, L.P. (NYSE: HEP), which includes our 2% general partner interest.

Our refining operations are located in Cheyenne, Wyoming; El Dorado, Kansas; Artesia, New Mexico; Tulsa, Oklahoma and Woods Cross, Utah. Each of the refineries has the complexity to convert discounted, heavy and sour crude oils into a high percentage of gasoline, diesel and other high value refined products. The Company markets products primarily throughout the Rocky Mountains, Plains states and Southwestern regions, which are among the most attractive refined product markets in the United States.

HollyFrontier owns a 39% interest, including the 2% general partnership interest, in Holly Energy Partners, L.P. (NYSE: HEP), a master limited partnership that owns and operates petroleum logistics assets including pipelines, terminals and tankage throughout the mid-continent. Through subsidiaries, HEP owns or leases approximately 3,400 miles of petroleum product and crude oil gathering pipelines in Texas, New Mexico, Oklahoma, Nevada, and Utah. HEP also owns tankage and refined product terminals in several Southwestern, Rocky Mountain, and Mid-Continent states. Read more or visit the Holly Energy Partners website.

HollyFrontier Refining & Marketing LLC markets lubricants, basestocks, specialty process oils and waxes. The majority of the lubricant and wax products are manufactured at the Tulsa Refinery and marketed through terminals in California, Georgia, North Carolina, Texas, Ohio, and Connecticut. The principal products consist of paraffinic oils, aromatic oils, waxes, horticultural oils and asphalt modifiers.

Specialty lubricant products are sold in both commercial and specialty markets. Base oil customers include blender-compounders who prepare the various finished lubricants and grease products that are sold to end users. Agricultural oils are formulated into EPA-registered pesticidal oils and adjuvants with herbicides. Process oil customers include the rubber and chemical industries. Specialty waxes are sold primarily to packaging customers as coating material for paper and cardboard and to non-packaging customers in the construction materials, adhesive and candle-making markets.

Our subsidiaries manufacture and market a variety of heavy products including performance-grade (PG) asphalt, fuel oil, vacuum tower bottoms, carbon black oil (slurry), roofing flux and zero pen asphalt (pitch). We market these products to highway contractors, government agencies, construction material suppliers, asphalt maintenance companies and other wholesale customers from the refinery loading racks. We also have asphalt terminals located in Artesia and Albuquerque, New Mexico and Glendale, Arizona, where we market PG asphalts, modified asphalts and commodity and modified emulsion products to a variety of customers and government agencies.


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