HollyFrontier Corporation Announces Regular Cash Dividend

DALLAS–(BUSINESS WIRE)–HollyFrontier Corporation (NYSE: HFC) ("HollyFrontier") announced today
that its Board of Directors declared a regular quarterly dividend in the
amount of $0.33 per share, payable on March 14, 2018 to holders of
record of common stock on February 28, 2018.

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 operates through its subsidiaries a
135,000 barrels per stream day ("bpsd") refinery located in El Dorado,
Kansas, a 125,000 bpsd refinery in Tulsa, Oklahoma, a 100,000 bpsd
refinery located in Artesia, New Mexico, a 52,000 bpsd refinery located
in Cheyenne, Wyoming and a 45,000 bpsd refinery in Woods Cross, Utah.
HollyFrontier 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, through its
subsidiary, owns Petro-Canada Lubricants Inc., whose Mississauga,
Ontario facility produces 15,600 barrels per day of base oils and other
specialized lubricant products, and owns a 57% limited partner interest
and a non-economic general partner interest in Holly Energy Partners,
L.P.

Information about the Company may be found on its website at www.hollyfrontier.com.

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.

Contacts

HollyFrontier Corporation
Craig Biery, 214-954-6510
Director,
Investor Relations
Or
Jared Harding, 214-954-6510
Investor
Relations