HOUSTON — Equilon Enterprises LLC dba Shell Oil Products U.S., a subsidiary of Royal Dutch Shell plc, has completed the sale of its Puget Sound Refinery near Anacortes, Washington, to a subsidiary of HollyFrontier Corp., an independent refiner headquartered in Texas, for $350 million in cash plus the value of the hydrocarbon inventory, subject to customary closing adjustments. The agreement covers the sale of Shell’s Puget Sound Refinery, the on-site cogeneration facility and the associated logistics infrastructure. Shell will retain product offtake agreements to support its existing retail marketing business in the Pacific Northwest. Shell’s off-site logistics assets are excluded from the sale.

For more information, visit www.shell.us or www.hollyfrontier.com.