HollyFrontier Corporation Provides Update on First Quarter Refinery Maintenance

HollyFrontier Corporation (NYSE: HFC) today announced that unplanned
first quarter maintenance at its El Dorado refinery has been completed.
The crude unit is back online and the refinery is in the process of
restarting all downstream units. As a result of planned and unplanned
maintenance in the period, HollyFrontier expects crude oil throughput
for the first quarter 2019 to average between 395,000 and 405,000
barrels per day.

About HollyFrontier Corporation:

HollyFrontier Corporation, headquartered in Dallas, Texas, is an
independent petroleum refiner and marketer that produces high value
light products such as gasoline, diesel fuel, jet fuel and other
specialty products. HollyFrontier owns and operates refineries located
in Kansas, Oklahoma, New Mexico, Wyoming and Utah and markets its
refined products principally in the Southwest U.S., the Rocky Mountains
extending into the Pacific Northwest and in other neighboring Plains
states. In addition, HollyFrontier produces base oils and other
specialized lubricants in the U.S., Canada and the Netherlands, and
exports products to more than 80 countries. HollyFrontier also owns a
57% limited partner interest and a non-economic general partner interest
in Holly Energy Partners, L.P., a master limited partnership that
provides petroleum product and crude oil transportation, terminalling,
storage and throughput services to the petroleum industry, including
HollyFrontier.

HFC Forward Looking Statement:

The statements contained herein relating to matters that are not
historical facts are "forward-looking statements" within the meaning of
the federal securities laws. These statements are based on our beliefs
and assumptions using currently available information and expectations
as of the date hereof, are not guarantees of future performance and
involve certain risks and uncertainties. Although we believe that such
expectations reflected in such forward-looking statements are
reasonable, we cannot give assurance that our expectations will prove to
be correct. Therefore, actual outcomes and results could materially
differ from what is expressed, implied or forecast in these statements.
Any differences could be caused by a number of factors including, but
not limited to:

• risks and uncertainties with respect to the actions of actual or
  potential competitive suppliers of refined petroleum products in
  HollyFrontier's markets;
• the demand for and supply of crude oil and refined products;
• the spread between market prices for refined products and market
  prices for crude oil;
• the possibility of constraints on the transportation of refined
  products;
• the possibility of inefficiencies, curtailments or shutdowns in
  refinery operations or pipelines;
• effects of governmental and environmental regulations and policies;
• the availability and cost of financing to HollyFrontier;
• the effectiveness of HollyFrontier's capital investments and marketing
  strategies;
• HollyFrontier's efficiency in carrying out construction projects;
• the ability of HollyFrontier to acquire refined product operations or
  pipeline and terminal operations on acceptable terms and to integrate
  any future acquired operations;
• the possibility of terrorist attacks and the consequences of any such
  attacks;
• general economic conditions; and
• other financial, operational and legal risks and uncertainties
  detailed from time to time in HollyFrontier's Securities and Exchange
  Commission filings.

The forward-looking statements speak only as of the date made and, other
than as required by law, HollyFrontier undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.

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