Investor Presentaiton

Historical and Projected Capital Spending 2010: $56.8 mm $14.5 Refining ■Retail, Marketing and Other 2012 (E): $133.1 mm 2011: $81.0 mm $45.0 $42.3 $36.0 $50.4 $82.7 Estimate includes a full- year of capital spending at Lion Oil Company 2012 (E) 2011 (A) 2010 (A) 21 221

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