Investor Presentaiton

• Lubricants & Specialties Integrated Model from Crude to Finished Products Rack Back captures the value between feedstock cost and base oil market prices (elastic index pricing) Rack Forward captures the value between base oil market prices and product sales revenues from customers (inelastic index pricing) RACK BACK RACK FORWARD I VGO/HCB 13 Base Oil Production Blending & Packaging Distribution R&D Marketing Mississauga Base Oil Plant Le 3rd Party Base Oil Base Oil Mississauga Facility Sonneborn Facilities I GA Red Giant Facilities Sales Finished Lubricants & Greases Petrolatums Sodium Sulfonates Waxes White Oils Specialty Products Base Oil HF Sinclair

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