NuStar Acquires Full Ownership in Linden, NJ Refined Products Terminal

Acquisition Expected To Be Immediately Accretive to 2015 Earnings;

Strengthens NuStar’s New York Harbor and East Coast Market Presence

SAN ANTONIO--()--NuStar Energy L.P. (NYSE: NS) announced today that it has acquired full ownership of a refined products terminal in Linden, NJ, which is located in the New York Harbor. The terminal was previously operated as a joint venture with Linden Holding Corp, and NuStar had 50 percent ownership of the facility. NuStar purchased the remaining ownership interest from Linden Holding Corp, a subsidiary of NIC Holding Corp, for $142.5 million, and the acquisition is projected to contribute approximately $20 million of incremental earnings before interest, taxes, depreciation and amortization (EBITDA) in 2015.

“I am very pleased that we are starting 2015 with a strategic acquisition that will contribute significantly to our earnings this year and in the years to come”

“I am very pleased that we are starting 2015 with a strategic acquisition that will contribute significantly to our earnings this year and in the years to come,” said NuStar President and CEO Brad Barron. “Having sole ownership of the terminal further strengthens our presence in the New York Harbor and the East Coast market, and it may provide opportunities for expansion as well.”

Barron also noted that the acquisition will give NuStar the opportunity to take advantage of synergies between the Linden terminal and the Linden NuTop terminal, which was already wholly owned by NuStar. The terminals are located adjacent to each other, so NuStar can achieve greater efficiency and economies of scale in owning both of them outright.

The Linden terminal has 4.3 million barrels of refined products storage capacity, primarily storing gasoline, jet fuel and fuel oils. It has a deep-water ship dock and one barge dock that are used for inbound and outbound shipments. The terminal also has inbound pipeline connections to the Colonial and Sun pipelines, and an outbound connection to the Buckeye Pipeline. The NuTop terminal has 389,000 barrels of refined product storage capacity and receives shipments via truck and pipeline, and delivers product via its eight-bay truck loading rack.

About NuStar Energy L.P.

NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar currently has 8,643 miles of pipeline and 81 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids. The partnership’s combined system has approximately 93 million barrels of storage capacity, and NuStar has operations in the United States, Canada, Mexico, the Netherlands, including St. Eustatius in the Caribbean, and the United Kingdom. For more information, visit NuStar Energy L.P.’s Web site at www.nustarenergy.com.

Within the text of this release, we make reference to certain non-GAAP financial measures, which should not be considered as alternatives to GAAP measures. Reconciliations of these non-GAAP financial measures to the most directly comparable financial measure calculated in accordance with GAAP are included on our website at www.nustarenergy.com within the Investors tab.

Contacts

NuStar Energy, L.P., San Antonio
Investors, Chris Russell, Vice President,
Investor Relations: 210-918-3507
chris.russell@nustarenergy.com
or
Media, Mary Rose Brown, Executive Vice President,
Administration: 210-918-2314
maryrose.brown@nustarenergy.com
Web site: http://www.nustarenergy.com

NuStar Energy L.P.