#1 Restricted stock units granted under the HollyFrontier Corporation 2020 Long Term Incentive Plan. The restricted stock units are subject to restrictions that will lapse on December 1, 2022, provided the reporting person has served on the board of directors of the Issuer from the grant date until such vesting date. Unless settlement is deferred pursuant to the company's deferred compensation arrangement for directors, the vested restricted stock units will be paid within 30 days following the vesting date in the form of the Issuer's common stock equal to the number of vested restricted stock units.

#2 The number reported includes 1,400 shares of common stock acquired by Mr. Rose pursuant to a dividend reinvestment plan.

#1 The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $28.75 to $29.00, inclusive. The reporting person undertakes to provide to HollyFrontier Corporation, any security holder of HollyFrontier Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.