NuStar Energy L.P. Declares Series A, Series B and Series C Preferred Units and Common Unit First Quarter 2019 Distributions

SAN ANTONIO–(BUSINESS WIRE)–NuStar Energy L.P. (NYSE: NS) today announced that its Board of
Directors has declared a first quarter 2019 Series A preferred unit
distribution of $0.53125 per unit, a Series B preferred unit
distribution of $0.47657 per unit and a Series C preferred unit
distribution of $0.56250 per unit. The preferred unit distributions will
be paid on June 17, 2019 to holders of record as of June 3, 2019.

NuStar Energy L.P.’s Board of Directors also declared a first quarter
2019 common unit distribution of $0.60 per unit. The first quarter
common unit distribution will be paid on May 14, 2019 to holders of
record as of May 8, 2019.

A conference call with management is scheduled for 10:00 a.m. CT on
Thursday, May 9, 2019, to discuss the financial and operational results
for the first quarter of 2019. Investors interested in listening to the
discussion may dial toll-free 844/889-7787, passcode 8288856.
International callers may access the discussion by dialing 661/378-9931,
passcode 8288856. The partnership intends to have a playback available
following the discussion, which may be accessed by dialing toll-free
855/859-2056, passcode 8288856. International callers may access the
playback by dialing 404/537-3406, passcode 8288856. The playback will be
available until 10:59 p.m. CT on June 9, 2019.

Investors interested in listening to the live discussion or a replay via
the internet may access the discussion directly at https://edge.media-server.com/m6/p/t43p2xxs
or by logging on to NuStar Energy L.P.’s website at www.nustarenergy.com.

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 approximately
9,800 miles of pipeline and 75 terminal and storage facilities that
store and distribute crude oil, refined products and specialty liquids.
The partnership’s combined system has more than 88 million barrels of
storage capacity, and NuStar has operations in the United States,
Canada, Mexico and St. Eustatius in the Caribbean. For more information,
visit NuStar Energy L.P.’s website at www.nustarenergy.com.

This release serves as qualified notice to nominees under Treasury
Regulation Sections 1.1446-4(b)(4) and (d). Please note that 100% of
NuStar Energy L.P.’s distributions to foreign investors are attributable
to income that is effectively connected with a United States trade or
business. Accordingly, all of NuStar Energy L.P.’s distributions to
foreign investors are subject to federal income tax withholding at the
highest effective tax rate for individuals and corporations, as
applicable. Nominees, and not NuStar Energy L.P., are treated as the
withholding agents responsible for withholding on the distributions
received by them on behalf of foreign investors.

Contacts

NuStar Energy, L.P., San Antonio
Investors, Tim Delagarza, Manager,
Investor Relations
Investor Relations: 210-918-INVR (4687)
or
Media,
Mary Rose Brown, Executive Vice President and Chief Administrative
Officer,
Corporate Communications: 210-918-2314
website: http://www.nustarenergy.com

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