Calumet Specialty Products Partners, L.P. Acquires United Petroleum Company

INDIANAPOLIS, Mar. 4, 2014 /PRNewswire/ — Calumet Specialty Products Partners,
L.P. (NASDAQ: CLMT) (“Calumet” or the “Partnership”) a leading independent
producer of specialty hydrocarbon and fuel products, today announced that it
acquired United Petroleum Company (“United”), a wholesale supplier and
distributor of premium motor oils, coolants and greases. Financial terms of the
transaction were not disclosed.

Privately-held United owns Quantum®, one of the fastest growing lubricants
brands in the industry. Founded in 2011, United currently sells more than 160
Quantum-branded products through more than 50 distributors with sales in 35
states nationally. Through its Quantum brand, United sells products into the
passenger car, heavy duty truck, farming and industrial end-markets through its
distribution partners. The Quantum brand has become one of the most recognized
new lubricants brands in recent years, supported by one of the most respected
sales and marketing organizations in the lubricants industry.

“The Quantum brand is one of the fastest growing lubricants brands in the
industry,” stated Jennifer Straumins, President and COO of Calumet Specialty
Products Partners. “The team at United has brought together a highly effective
sales and marketing organization that we intend to leverage as we seek to
further increase our addressable markets, while growing our customer base.”

“This acquisition will allow us to further diversify our portfolio of
multi-tiered branded lubricants,” stated Bryan Yourdon, Vice President of
Calumet’s Branded and Packaged products group. “The Quantum brand will join the
Royal Purple and Bel-Ray lubricants brands to provide our global customer base
with a unique, fully-integrated product offering. We are excited to welcome the
employees of United to the Calumet family.”

About Calumet Specialty Products Partners, L.P.

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is a master limited
partnership and is a leading independent producer of high-quality, specialty
hydrocarbon products in North America. Calumet processes crude oil and other
feedstocks into customized lubricating oils, solvents and waxes used in
consumer, industrial and automotive products. Calumet also produces fuel
products including gasoline, diesel and jet fuel. Calumet is based in
Indianapolis, Indiana and has twelve facilities located in northwest Louisiana,
northwest Wisconsin, northern Montana, western Pennsylvania, Texas and eastern
Missouri and New Jersey.

Safe Harbor Statement

Certain statements and information in this press release may constitute
“forward-looking statements.” The words “believe,” “expect,” “anticipate,”
“plan,” “intend,” “foresee,” “should,” “would,” “could” or other similar
expressions are intended to identify forward-looking statements, which are
generally not historical in nature. These forward-looking statements are based
on our current expectations and beliefs concerning future developments and their
potential effect on us. While management believes that these forward-looking
statements are reasonable as and when made, there can be no assurance that
future developments affecting us will be those that we anticipate. All comments
concerning our expectations for future sales and operating results are based on
our forecasts for our existing operations and do not include the potential
impact of any future acquisitions. Our forward-looking statements involve
significant risks and uncertainties (some of which are beyond our control) and
assumptions that could cause actual results to differ materially from our
historical experience and our present expectations or projections. Important
factors that could cause actual results to differ materially from those in the
forward-looking statements include: the overall demand for specialty hydrocarbon
products, fuels and other refined products; our ability to produce specialty
products and fuels that meet our customers’ unique and precise specifications;
the impact of fluctuations and rapid increases or decreases in crude oil and
crack spread prices, including the resulting impact on our liquidity; the
results of our hedging and other risk management activities; our ability to
comply with financial covenants contained in our debt instruments; the
availability of, and our ability to consummate, acquisition or combination
opportunities and the impact of any completed acquisitions; labor relations; our
access to capital to fund expansions, acquisitions and our working capital needs
and our ability to obtain debt or equity financing on satisfactory terms;
successful integration and future performance of acquired assets, businesses or
third-party product supply and processing relationships; our ability to timely
and effectively integrate the operations of recently acquired businesses or
assets, particularly those in new geographic areas or in new lines of business;
environmental liabilities or events that are not covered by an indemnity,
insurance or existing reserves; maintenance of our credit ratings and ability to
receive open credit lines from our suppliers; demand for various grades of crude
oil and resulting changes in pricing conditions; fluctuations in refinery
capacity; our ability to access sufficient crude oil supply through long-term or
month-to-month evergreen contracts and on the spot market; the effects of
competition; continued creditworthiness of, and performance by, counterparties;
the impact of current and future laws, rulings and governmental regulations,
including guidance related to the Dodd-Frank Wall Street Reform and Consumer
Protection Act; shortages or cost increases of power supplies, natural gas,
materials or labor; hurricane or other weather interference with business
operations; our ability to access the debt and equity markets; accidents or
other unscheduled shutdowns; and general economic, market or business
conditions. For additional information regarding known material factors that
could cause our actual results to differ from our projected results, please see
our filings with Securities and Exchange Commission (“SEC”), including our 2012
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports
on Form 8-K. Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date they are made. We
undertake no obligation to publicly update or revise any forward-looking
statements after the date they are made, whether as a result of new information,
future events or otherwise.

SOURCE Calumet Specialty Products Partners, L.P.

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