HF Sinclair and Holly Energy Partners Report Early Results of Note Exchange and Consent Solicitations, Extend Early Participation Consideration

HF Sinclair Corporation (NYSE:DINO) ("HF Sinclair") and Holly Energy Partners, L.P. (NYSE:HEP) ("HEP") today announced that as of 5:00 p.m., New York City time, on November 13, 2023 (the "Early Participation Date"), that $880,229,000 in aggregate principal amount of outstanding HEP Notes (as defined below) previously issued by HEP and Holly Energy Finance Corp. ("Finance Corp." and, together with HEP, the "HEP Issuers"), representing approximately 97.80% of the total outstanding principal amount of the HEP Notes, have been validly tendered and not validly withdrawn (and consents thereby validly given and not validly withdrawn) in connection with its previously announced private exchange offers (each an "Exchange Offer" and, collectively, the "Exchange Offers") and related consent solicitations (collectively, the "Consent Solicitations") and that the following Early Participation Exchange Consideration (as defined below) in respect of each $1,000 principal amount of such HEP Notes if accepted for purchase is to be paid: