NuStar Energy Investor Conference Presentation Deck

NuStar Thanks to Our Employees' Perseverance and Hard Work, We Generated Solid Full-Year 2020 Results... 2020 Actions Maintained Reliable Operations & Industry-leading Health & Safety Record Reduced Expenses $52 million* Reduced Strategic Capital Spending 66% Reduced Debt With $106 million Proceeds From Sale of Terminal Issued $1.2 billion of Senior Notes to Address Bond Maturities Until 2025 2020 Results Adjusted EBITDA $723 MM 8% HIGHER Than Our 2019 Results *- 2020 actuals compared to pre-Covid 2020 guidance for spending/expenses 1 - Please see Appendix for reconciliations of non-GAAP financial measures to their most directly comparable GAAP measures 4

View entire presentation