Corporate Event Notice CE13-34

DATE: February 25, 2013
RE: HollyFrontier Corporation (“HFC/HFC1C”)
Special Cash Distribution
Ex-Distribution Date: March 1, 2013

Attached, for your information is an important memo from the OCC.

We urge you to read this (see link) and distribute to others within your organization you deem appropriate.

 http://www.theocc.com/webapps/infomemos?number=32281&date=201302

If clicking on the link above does not work, then copy and paste into your browser.

Key Information:

The above security has declared a special cash dividend per share.  The OCC will reduce the start of day prices by the distribution amount on the morning of Ex-Date.

Special Cash Distribution Amount $0.50 per share
Ex-Date 3/1/13
GTC Order Handling New OCC Methodology* No change to Price or Quantity

* Member firms must determine if the new GTC order terms meet their clients’ objectives and cancel or cancel/replace orders as appropriate.