Document:

EX-10.1

 Exhibit 10.1 

STOCKHOLDERS AGREEMENT 

This Stockholders Agreement (this “Agreement”) is made and entered into as of August 2, 2021, to be effective as of the
Closing Date, by and among Hippo Parent Corporation, a Delaware corporation (the “Company”), The Sinclair Companies, a Wyoming corporation (“Sinclair HoldCo”) and the other stockholders set forth on Schedule
I hereto, as may be amended from time to time after the date hereof (each, together with Sinclair HoldCo, a “Stockholder” and collectively, the “Stockholders”). 

WHEREAS, the Company, Sinclair HoldCo, Hippo Holding LLC, a Delaware limited liability company (“Sinclair NewCo”),
HollyFrontier Corporation, a Delaware corporation and Hippo Merger Sub, Inc., a Delaware corporation have entered into a Business Combination Agreement (the “BCA”), dated as of the date hereof, pursuant to which, following the
consummation of the transactions contemplated thereby (collectively, the “Transactions”), Sinclair NewCo will become a wholly-owned subsidiary of the Company and Sinclair HoldCo will become a stockholder of the Company; 

WHEREAS, the Company, Sinclair HoldCo and the Stockholders desire to enter into this Agreement to provide for (a) registration
rights with respect to the shares of Common Stock to be held by Sinclair HoldCo (on behalf of the Stockholders) immediately after the closing of the Transactions and (b) certain other governance matters and restrictions on Transfer and other
matters set forth herein. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

Section 1.    Definitions. As used in this Agreement, the following terms shall have the
meanings set forth in Section 1. Capitalized terms used, but not otherwise defined herein, shall have the meanings ascribed to such terms in the BCA. 

“Accountants” means the independent registered public accounting firm selected by the Board. 

“Activist” means, as of any date of determination, a Person (other than a Sinclair Party) that has, directly or indirectly
through its Affiliates, whether individually or as a member of a Group, within the two-year period immediately preceding such date of determination, (i) publicly made, engaged in or been a
“participant” in any “solicitation” of “proxies” (as such terms are used in the proxy rules of the Commission) to vote, or advise or influence any Person with respect to the voting of, any equity securities of any
issuer, including in connection with a proposed change of control or other extraordinary or fundamental transaction, or a proposal for the election or replacement of directors, not approved (at the time of the first such proposal) by the board of
directors of such issuer, (ii) called, or publicly sought to call, a meeting of the shareholders of any issuer or initiated any shareholder proposal for action by shareholders of any issuer, in each case not approved (at the time of the first
such action) by the board of directors of such issuer, (iii) otherwise publicly acted, alone or in concert with others, to seek to control the management or the policies of any issuer (provided, that this clause (iii) is not intended to
include the activities of any 

 
member of the board of directors of any issuer, with respect to such issuer, taken in good faith solely in his or her capacity as a director of such issuer), (iv) commenced a “tender
offer” (as such term is used in Regulation 14D under the Exchange Act) to acquire the equity securities of an issuer that was not approved (at the time of commencement) by the board of directors of such issuer in a Schedule 14D-9 filed under Regulation 14D under the Exchange Act, or (v) publicly disclosed any intention, plan, arrangement or other contract to do any of the foregoing. 

“Affiliate” means, with respect to any Person, any other Person which directly or indirectly, through one or more
intermediaries, controls, or is under common control with, or is controlled by, such Person. As used in this definition, “control” (including, with its correlative meanings, “controlling,” “controlled by” and
“under common control with”) shall mean possession, directly or indirectly, of power to direct or cause the direction of the actions, management or policies of the specified person (whether through ownership of securities or partnership or
other ownership interests, by contract or otherwise). 
 “Agreement” has the meaning set forth in the preamble hereto. 

“BCA” has the meaning set forth in the recitals hereto. 

“Beneficially Own” has the meaning set forth in Rule 13d-3 under the Exchange Act,
except that a Person shall be deemed to have beneficial ownership of (i) all securities that any such Person has the right to acquire, regardless of whether such right may be exercised immediately or only after the passage of time and
regardless of whether such right is conditional, and (ii) all securities in which such Person has any economic interest, including pursuant to a cash settled call option or other derivative security, contract or instrument in any way related to
the price of shares of such securities. As used in this definition, “Beneficial Ownership” shall have a correlative meaning. 

“Block Trade” has the meaning set forth in Section 5(h)(i). 

“Blue Sky Filings” has the meaning set forth in Section 5(l)(i). 

“Board” means the Board of Directors of the Company. 

“Business Day” means a day other than a Saturday, Sunday or other day on which commercial banks in Dallas, Texas, are
authorized or required by Law to close. 
 “Change of Control” means any of the following: (i) individuals who, as of
the Closing Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date
hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of
the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or
threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; (ii) a sale, lease, exchange or other transfer (in one transaction or a related series of transactions) of all or substantially all of the assets
of the Company and its Subsidiaries on a 

  
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consolidated basis to any Person or Group; or (iii) consummation by the Company of a reorganization, merger or consolidation, or sale or other disposition of all or substantially all of the
assets of the Company, or the acquisition of assets of another entity (each, a “Business Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the individuals and entities who
were the beneficial owners, respectively, of the outstanding Common Stock immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the then outstanding shares of common stock and the combined voting
power of the then outstanding voting securities entitled to vote generally in the election of directors (or equivalent governing authority), as the case may be, of the entity resulting from such Business Combination (including an entity which as a
result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business
Combination, of the outstanding Common Stock, and (B) at least a majority of the members of the board of directors (or equivalent governing authority) of the entity resulting from such Business Combination were members of the Incumbent Board at
the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination. 

“Commission” means the Securities and Exchange Commission or any other Governmental Authority at the time administering the
Securities Act. 
 “Common Stock” means (a) the Company’s common stock, par value $0.01 per share and
(b) any securities issued or issuable directly or indirectly with respect to shares of Common Stock by way of conversion, exercise or exchange, stock dividend or stock split or in connection with a combination of shares, recapitalization,
reclassification, merger, consolidation, reorganization or other similar event. 
 “Company” has the meaning set forth in
the preamble hereto. 
 “Company Bylaws” means the Amended and Restated Bylaws of the Company. 

“Company Certificate of Incorporation” means the Amended and Restated Certificate of Incorporation of the Company. 

“Confidential Information” has the meaning set forth in Section 9(b)(i). 

“Demanding Holder” shall mean any Holder or group of Holders that together elects to dispose of Registrable Securities having
an aggregate value of at least $100 million, at the time of the Underwritten Demand, under a Registration Statement pursuant to an Underwritten Offering. Any action to be taken by the Demanding Holders hereunder with respect to an Underwritten
Offering shall be taken by the Demanding Holders that hold a majority of the Registrable Securities to be included in such Underwritten Offering. 

“DGCL” means the General Corporation Law of the State of Delaware, as the same shall be in effect from time to time. 

“Director” means a member of the Board. 

  
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 “Disinterested Directors” means all of the members of the Board other than
the Sinclair Directors. 
 “Exchange Act” means the Securities Exchange Act of 1934, and the Rules and Regulations adopted
under such act, all as the same shall be in effect from time to time. 
 “Financial Counterparty” shall have the meaning
set forth in Section 5(h)(i). 
 “FINRA” has the meaning set forth in
Section 5(j)(xviii). 
 “Fully Diluted Basis” means, as of the time of determination, the sum of
(i) the number of registered and unregistered shares of Common Stock issued and outstanding, plus (ii) the number of shares of Common Stock issuable upon vesting of all outstanding New Parent Restricted Stock Unit Awards (as defined
in the BCA) that by their terms are to be settled in Common Stock, plus (iii) the number of shares of Common Stock issuable upon vesting at “Target” levels of all outstanding New Parent PSU Awards (as defined in the BCA) that
by their terms are to be settled in Common Stock. If after the Closing the Company issues any securities to employees of the Company or any Director pursuant to a plan that is not substantially similar to plans in effect as of the date hereof, the
calculation of the Company’s outstanding shares of Common Stock on a Fully Diluted Basis shall be revised to reflect such issuance as determined by the Board in its reasonable discretion. An illustrative calculation of the Company’s
outstanding shares of Common Stock on a Fully Diluted Basis as determined based on the assumptions set forth above is set forth as Exhibit A hereto. 

“Governmental Authority” means any Federal, state, municipal, local or foreign government, governmental authority, regulatory
or administrative agency, governmental commission, department, board, bureau, agency or instrumentality, court, tribunal, arbitrator or arbitral body. 

“Group” has the meaning given to such term in Section 13(d)(3) of the Exchange Act. 

“Holder” means any holder of Registrable Securities. 

“Information” has the meaning set forth in Section 5(j)(x). 

“Issuer Free Writing Prospectus” means each “free writing prospectus” (as defined in Rule 405) prepared by or on
behalf of the Company or used or referred to by the Company in any offering of Registrable Securities pursuant to Section 5. 

“Law” means any federal, state, local, municipal or foreign order, judgment, decree, constitution, law (including common
law), ordinance, rule, regulation, statute or treaty, as well as any legally binding policy, guidance, interpretation, manual or binding communication of any Governmental Authority or stock exchange on which the Common Stock is listed. 

“Lock-up Period” means the period commencing on the Closing and ending on the date
that is fifteen (15) months following the Closing. 

  
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 “Nominating Committee” means the Nominating, Governance and Social
Responsibility Committee of the Board or any other committee of the Board that performs similar functions. 
 “NYSE” means
the New York Stock Exchange. 
 “Order” means any order, writ, judgment, injunction, decree, stipulation, determination,
ruling, subpoena or award or other decision issued, promulgated or entered by or with any Governmental Authority. 
 “Other
Coordinated Offering” has the meaning set forth in Section 5(h)(i). 
 “Pending
Transaction” has the meaning set forth in Section 6(e). 
 “Permitted Issuer
Information” means any “issuer information” (as defined in Rule 433 of the Rules and Regulations) used with the prior written consent of the Company in any offering of Registrable Securities pursuant to
Section 5. 
 “Permitted Transfer” has the meaning set forth in
Section 3(b). 
 “Permitted Transferee” has the meaning set forth in
Section 3(b). 
 “Person” shall be construed broadly and shall include an individual, a
partnership, a limited liability partnership, an investment fund, a limited liability company, a corporation (including not-for-profit), an association, a joint stock
corporation, a trust, estate, a joint venture, an unincorporated organization and any Governmental Authority or any other entity of any kind or nature. 

“Piggyback Registration” has the meaning set forth in Section 5(f). 

“Preliminary Prospectus” means any preliminary prospectus relating to an offering of Registrable Securities pursuant to
Section 5, including any prospectus supplement thereto, as filed with the Commission pursuant to Rule 424(b) of the Rules and Regulations, including all material incorporated by reference in the prospectus. 

“Prohibited Actions” has the meaning set forth in Section 6(a). 

“Prohibited Transferee” has the meaning set forth in Section 4(a)(i). 

“Prospectus” means the final prospectus relating to any offering of Registrable Securities pursuant to
Section 5, including any prospectus supplement thereto, as filed with the Commission pursuant to Rule 424(b) of the Rules and Regulations, including all material incorporated by reference in the prospectus. 

“Records” has the meaning set forth in Section 5(j)(x). 

“Registrable Securities” means the Subject Shares until (i) such Subject Shares have been sold pursuant to an effective
Registration Statement or (ii) such Subject Shares have been sold pursuant to Rule 144 promulgated under the Securities Act; provided, that, in the case of either clause (i) or clause (ii), the Subject Shares will remain Registrable
Securities when sold or otherwise Transferred to any Permitted Transferee. 

  
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 “Registration Expenses” has the meaning set forth in
Section 5(k). 
 “Registration Statement” means any registration statement under the Securities
Act that covers the Registrable Securities pursuant to the provisions of this Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to such registration
statement, and all exhibits to and all material incorporated by reference in such registration statement. 
 “Restricted
Shares” means 75% of the shares of the Common Stock issued to Sinclair HoldCo as of the Closing Date pursuant to the BCA. 

“Road Show Material” has the meaning set forth in Section 5(l)(i). 

“Rule 144” means Rule 144 of the Rules and Regulations or any successor rule thereto or any complementary rule thereto. 

“Rule 405” means Rule 405 of the Rules and Regulations or any successor rule thereto or any complementary rule thereto. 

“Rule 433” means Rule 433 of the Rules and Regulations or any successor rule thereto or any complementary rule thereto. 

“Rules and Regulations” means the rules and regulations of the Commission, as the same shall be in effect from time to time.

 “Securities Act” means the Securities Act of 1933, and the Rules and Regulations adopted under that act, all as the same
shall be in effect from time to time. 
 “Sellers’ Counsel” has the meaning set forth in
Section 5(j)(ii). 
 “Shelf Registration Statement” has the meaning set forth in
Section 5(a). 
 “Sinclair Designee Calculation Date” has the meaning set forth in
Section 2(a). 
 “Sinclair Designees” has the meaning set forth in
Section 2(a). 
 “Sinclair Directors” means any Sinclair Designees elected or otherwise serving
as a Director. 
 “Sinclair Family Member” means (i) Carol Holding; (ii) Stephen Holding, Anne Holding Peterson
and Kathleen Holding; (iii) any spouse, former spouse, sibling, niece, nephew, son-in-law,
daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, of any person named in clause (ii); (iv) any lineal descendent of any Person identified in clause (ii) or (iii) and any spouse or former spouse of any
such Person, including adoptive relationships and stepchildren; (v) any trust established by, and in which at least 75% of the beneficial interest is 

  
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directly or indirectly held by or for the benefit of, any one or more Persons identified in clauses (i), (ii), (iii), (iv) or (ix) of this definition and one or more Persons exempt from
federal taxation under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended; (vi) any limited liability company, partnership or other estate planning or family business vehicle of which one or more Persons identified in
clauses (i), (ii), (iii), (iv) or (ix) of this definition serves as managing member, manager, general partner or otherwise, as applicable, and in which at least 75% of the economic interest is directly or indirectly held by or for the benefit
of any one or more of such Persons; (vii) any tax-exempt foundation, charitable trust, non-profit entity or other entity established by any Person identified in
clauses (i), (ii), (iii), (iv) or (ix) of this definition, so long as the voting and disposition authority with respect to the Subject Shares are controlled by or under the appointment of any Person identified in clauses (i), (ii), (iii), (iv)
or (ix) of this definition; (viii) any other Person directly or indirectly controlled by any Person or combination of persons identified in this definition; and (ix) executors, administrators or beneficiaries of the estates of any
such now or hereafter deceased Person, guardians or members of a committee for any such Person who is or becomes incompetent, or similar Persons duly authorized by Law to administer the estate or assets of any such Person identified in this
definition. 
 “Sinclair HoldCo” has the meaning set forth in the preamble hereto. 

“Sinclair NewCo” has the meanings set forth in the preamble hereto. 

“Sinclair Parties” means, collectively, Sinclair HoldCo, the Stockholders and their Permitted Transferees, and each,
individually, a “Sinclair Party”. 
 “Standstill Termination Date” means the earliest to occur of
(i) the fourth anniversary of the Closing, (ii) the date on which the Sinclair Parties Beneficially Own Common Stock constituting less than 10% of all outstanding Common Stock on a Fully Diluted Basis, and (iii) the date on which a
Change of Control occurs. 
 “Stockholder” and “Stockholders” have the meanings set
forth in the preamble hereto. 
 “Subject Shares” means all of the shares of the Common Stock issued to Sinclair HoldCo at
the Closing pursuant to the BCA. 
 “Subsequent Shelf Registration Statement” has the meaning set forth in
Section 5(a)(iii). 
 “Sunset Date” means the earliest to occur of (i) the date on which the
Sinclair Parties Beneficially Own Common Stock constituting less than 5% of all outstanding Common Stock on a Fully Diluted Basis and (ii) the date on which a Change of Control occurs. 

“Transfer” has the meaning set forth in Section 3(a). 

“Underwritten Demand” has the meaning set forth in Section 5(b). 

“Underwritten Offering” means a sale of Common Stock to an underwriter for reoffering to the public. 

“Valid Business Reason” has the meaning set forth in Section 5(c). 

  
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 Section 2.    Sinclair Designees. 

(a)    As soon as practicable following, but no earlier than the day after and no later than five (5) Business Days
after, the Closing, subject to the other provisions of this Section 2, the Company and Sinclair HoldCo shall cooperate and take appropriate actions to cause the Board to include among its membership a number of Directors
designated by Sinclair HoldCo (on behalf of the Stockholders) for election or appointment as Directors (the “Sinclair Designees”) as follows: (i) if the Sinclair Parties Beneficially Own Common Stock constituting not less than
15% of all outstanding Common Stock on a Fully Diluted Basis as of the Sinclair Designee Calculation Date, there shall be two Sinclair Designees; (ii) if the Sinclair Parties Beneficially Own Common Stock constituting less than 15% but more
than or equal to 5% of all outstanding Common Stock on a Fully Diluted Basis as of the Sinclair Designee Calculation Date, there shall be one Sinclair Designee; and (iii) if the Sinclair Parties Beneficially Own Common Stock constituting less
than 5% of all outstanding Common Stock on a Fully Diluted Basis as of the Sinclair Designee Calculation Date, there shall be no Sinclair Designees and Sinclair HoldCo shall not have the right to designate any directors to the Board. For purposes of
this Agreement, the “Sinclair Designee Calculation Date” shall mean the close of business on the date that is one hundred twenty (120) days prior to the anniversary of the Company’s annual meeting of stockholders for the
immediately preceding year; provided, that the first Sinclair Designee Calculation Date shall be the Closing Date, after giving effect to the Closing. 

(b)    If at any time the number of Sinclair Designees serving as Directors exceeds the number provided for in
Section 2(a), the Sinclair Parties shall cause one or more of such Sinclair Designees, as applicable, to offer to resign from the Board within thirty (30) days (it being understood that it shall be in the Board’s
sole discretion whether to accept or reject such offer of resignation, unless any such Sinclair Designee no longer wishes to serve on the Board in which event the resignation shall be accepted). 

(c)    The Sinclair Designees shall resign and the Company’s obligations under this
Section 2 shall terminate effective upon such time that any Sinclair Party violates, through the act of such Sinclair Party or any of its Affiliates, Section 6(a) or Section 7(a) of this Agreement,
which breach is not cured within the earlier of (i) twenty (20) Business Days following written notice from the Company to Sinclair HoldCo of such breach and (ii) the next occurring date of nomination of Directors. Any Sinclair Party shall
be entitled to terminate such Sinclair Party’s rights under this Section 2 by providing prior written notice to the Company and Sinclair HoldCo, which notice shall state the number of shares of Common Stock Beneficially Owned by
such Sinclair Party and the date on which such termination shall be effective. Upon the effectiveness of such termination, the shares of Common Stock Beneficially Owned by such Sinclair Party shall cease to be counted for purposes of determining the
amount of Common Stock Beneficially Owned by the Sinclair Parties for purposes of Section 2(a). 

(d)    Subject to compliance with applicable Laws and the regulations of the NYSE, in connection with each annual meeting
of the Company’s stockholders held after the Closing, Sinclair HoldCo may designate for nomination by the Board or the Nominating Committee the number of persons Sinclair HoldCo is entitled to designate pursuant to
Section 2(a), based on the aggregate Beneficial Ownership of the Sinclair Parties as of the Sinclair Designee Calculation Date. All Sinclair Designees shall possess the director characteristics and

  
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qualifications (i) contained in the Company Bylaws and Corporate Governance Guidelines and (ii) described on Exhibit C, in each case as consistently applied to other members of
the Board. In addition, at all times at least one Sinclair Director, if there is any, shall possess significant management experience in the refining industry, as determined by the Board in its reasonable discretion. 

(e)    Each Sinclair Designee shall be nominated by the Board or the Nominating Committee, as applicable, for election or
appointment as a Director following the Nominating Committee’s interview of each such individual and review of such individual’s qualifications, including such individual’s independence status, and shall be so nominated to serve on
the Board unless the Board or the Nominating Committee, as applicable, reasonably determines that (i) such individual is an officer, director, partner, principal stockholder or Affiliate of any significant competitor, (ii) such individual
would not qualify as an independent director pursuant to NYSE’s listing rules relating to director independence, as then in effect, (iii) the appointment of such individual as a director would cause the Company not to be in compliance with
applicable Law, (iv) such individual is subject to any order, decree or judgment of any Governmental Authority prohibiting service as a director of any public company or (v) such individual is an Affiliate of an Activist. If the Board or
the Nominating Committee, as applicable, determines that any individual designated by Sinclair HoldCo does not satisfy the criteria set forth in the preceding sentence or if any Sinclair Designee is unable to serve on the Board due to resignation,
death or disability, the Board or the Nominating Committee, as applicable, will promptly notify Sinclair HoldCo of such determination and Sinclair HoldCo will be entitled to designate another individual for nomination. The Sinclair Parties agree
that the Sinclair Designees will not become a party to any agreement, arrangement or understanding with any Sinclair Party or any third party (other than the Company with respect to the compensation and other items referred to in Section 2(h)
below) with respect to any compensation (other than indemnification and expense reimbursement) in connection with service or action as a Sinclair Designee. 

(f)    The Company shall use its commercially reasonable efforts to solicit from the stockholders of the Company eligible
to vote for the election of Directors proxies in favor of the Sinclair Designees designated in accordance with this Section 2 in substantially the same manner that it solicits proxies for all other Director nominees
recommended by the Board.
 (g)    Each Sinclair Party acknowledges that each of the Sinclair Directors shall be
required to comply, during the Sinclair Director’s term as a director of the Company, with all policies, processes, procedures, codes, rules, standards, and guidelines applicable, from time to time, to members of the Board, and that each of the
Sinclair Directors shall be required to strictly preserve Confidential Information, including the discussion of any matters considered in meetings of the Board whether or not the matters relate to material
non-public information, subject to the exceptions set forth in Section 9(b)(i) and Section 9(b)(ii). The Sinclair Directors and Sinclair HoldCo shall provide
the Company with such information as is reasonably requested by the Company concerning the Sinclair Designees and Sinclair Directors as is required to be disclosed under applicable Law or stock exchange regulations, including the completion of the
Company’s current standard director and officer questionnaire, in each case promptly after such Sinclair Designees are nominated and from time to time as promptly as necessary to enable the timely filing of the Company’s proxy statement on
Schedule 14A and periodic reports on Forms 10-K and 10-Q with the Commission. 

  
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 (h)    The Company agrees that the Sinclair Directors shall receive the
same compensation, director and officer insurance, indemnity and exculpation arrangements and other benefits as are available to the other non-employee directors on the Board. 

Section 3.    Lock-Up. 

(a)    During the Lock-up Period, no Sinclair Party shall, directly or indirectly,
sell, offer or agree to sell, or otherwise transfer, or loan or pledge (other than a pledge in connection with a bona fide third party debt financing), through swap or hedging transactions, or grant any option to purchase, make any short sale or
otherwise dispose of (“Transfer”), any of the Restricted Shares, except as permitted by Section 3(b) or Section 3(c). 

(b)    Notwithstanding anything to the contrary in Section 3(a), and subject to the other terms
and conditions of this Section 3, a Sinclair Party may Transfer Restricted Shares as set forth below (each, a “Permitted Transfer” and the transferee permitted hereby, a “Permitted
Transferee”): 
 (i)    to a Sinclair Family Member; 

(ii)    as a bona fide gift or gifts (whether or not the recipient is a Sinclair Family Member); or

 (iii)    with the prior written approval of a majority of the Disinterested Directors. 

It shall be a condition to any Permitted Transfer that the Permitted Transferee execute a joinder to this Agreement in the form attached hereto as
Exhibit D (at which time, such Permitted Transferee’s name will be added to Schedule I, and such Permitted Transferee will be deemed a Stockholder for purposes of this Agreement). Subject to
Section 4(d), each Sinclair Party agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent and registrar against the transfer of any Restricted Shares except in compliance with
the foregoing restrictions; provided that, subject to the requirements of securities Laws, the Company shall cause such stop transfer instructions to be terminated immediately upon expiration of the
Lock-up Period. The Company agrees to provide an indemnification in customary form required by its transfer agent so that Permitted Transfers, as well as sales pursuant to Section 5,
may be effected without the requirement for any Sinclair Family Member to deliver a medallion guaranty or similar assurance in connection with any such Transfer. 

(c)    The Restricted Shares shall cease to be “Restricted Shares” and shall be released from the restrictions
on Transfer in Section 3(a) on the dates and in the amounts set forth below: 

(i)    on the date that is six months following the Closing,
one-third of the Restricted Shares shall be relieved from the restrictions on Transfer in Section 3(a); 

(ii)    on the date that is the one year following the Closing,
one-half of the remaining Restricted Shares shall be relieved from the restrictions on Transfer in Section 3(a); and 

  
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 (iii)    on the date is that fifteen months following
the Closing, the remaining Restricted Shares shall be relieved from the restrictions on Transfer in Section 3(a); 

(d)    provided, however, that any or all of the Restricted Shares may be Transferred in connection with the
commencement of any tender offer or exchange offer or the Company’s entry into a definitive agreement with respect to a merger, consolidation or other similar transaction, which tender offer, exchange offer or definitive agreement has been
approved or recommended by the Board or a committee thereof; provided, further, that all shares of Common Stock that cease to be “Restricted Shares” shall continue to be Subject Shares that remain subject to the other terms
and conditions of this Agreement in accordance with their terms, including Section 4, Section 5, Section 6 and Section 7. Any attempt to Transfer
any Restricted Shares in violation of the terms of this Agreement shall be null and void ab initio and no right, title or interest therein or thereto shall be Transferred to the purported Transferee. The Company will not give, and will
not permit the Company’s transfer agent to give, any effect to such attempted Transfer on its records. 

Section 4.    General Transfer Restrictions. 

(a)    Until the Sunset Date, without the prior written approval of a majority of the Disinterested Directors, no Sinclair
Party shall, either individually or acting together with any other Sinclair Parties: 
 (i)    Knowingly
Transfer any Subject Shares to any Person or Group who is listed on Exhibit B (each, a “Prohibited Transferee”); or 

(ii)    Transfer any Subject Shares to any Person or Group who, after giving effect to such Transfer and to
the Transferring Sinclair Party’s knowledge, would own 5% or more of the outstanding shares of Common Stock (other than any Person or Group entitled to file a Schedule 13G pursuant to Rule 13d-1(b)(1)
under the Exchange Act); 
 provided, however, the Subject Shares may be Transferred in connection with the commencement of any
tender offer or exchange offer or the Company’s entry into a definitive agreement with respect to a merger, consolidation or other similar transaction, which tender offer, exchange offer or definitive agreement has been approved or recommended
by the Board or a committee thereof. 
 Notwithstanding anything in this Agreement to the contrary, this
Section 4(a) shall not apply to (A) any Permitted Transfer, (B) any Transfer effected through an Underwritten Offering, Block Trade or Other Coordinated Offering pursuant to an exercise of the registration rights
pursuant to Article 5 so long as the Sinclair Parties effecting any such Transfers shall instruct the managing underwriter(s) of any such Underwritten Offering or the distribution agent of any such Block Trade or Other Coordinated Offering to
exclude (as potential purchasers) Prohibited Transferees from such Underwritten Offering, Block Trade or Other Coordinated Offering, or (C) any Transfer effected through an open market transaction, block trade (other than a Block Trade) or
brokerage sale conducted through a market maker or broker. For the purposes of determining 

  
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“knowledge” for purposes of Section 4(a)(ii), excluding any Transfers contemplated by the immediately preceding sentence, the Transferring Sinclair Party shall
be required to undertake reasonable inquiry into the identity of any potential purchaser(s), which shall be satisfied by (x) reviewing (or causing the applicable Sinclair Party’s legal counsel to review) filings made by the prospective
purchaser on the Commission’s EDGAR system in order to determine whether or not such purchaser beneficially owns 5% or more of the outstanding shares of Common Stock and (y) in the case of any Transfer (in one transaction or a series of
transactions with any potential purchaser) of Subject Shares constituting 1% or more of the outstanding shares of Common Stock, causing such purchaser to execute a certification in form and substance reasonably satisfactory to the Company,
certifying that such purchaser will not own 5% or more of the outstanding shares of Common Stock after giving effect to the proposed Transfer. 

(b)    Any attempt to Transfer any Subject Shares in violation of the terms of this Agreement shall be null and void ab
initio and no right, title or interest therein or thereto shall be Transferred to the purported Transferee. The Company will not give, and will not permit the Company’s transfer agent to give, any effect to such attempted Transfer on
its records. 
 (c)    The Subject Shares held by a Stockholder, whether represented by certificates or in book-entry
form, will bear a legend in substantially the following form: 
 “The securities represented by this certificate have not been
registered under the United States Securities Act of 1933, as amended (the “Act”), or applicable state securities Laws and the holder of such securities may not, directly or indirectly, sell, offer or agree to
sell such securities, or otherwise transfer, directly or indirectly, or loan or pledge, through swap or hedging transactions (or other transaction which is designed to or which reasonably could be expected to lead to or result in a sale or
disposition of such securities even if such securities would be disposed of by someone other than such holder thereof) such securities (“Transfer”) other than in accordance with the terms and
conditions of the Stockholders Agreement, dated as of August 2, 2021, as it may be amended from time to time by and among Hippo Parent Corporation (the “Company”) and certain of
its stockholders and other persons (the “Stockholders Agreement”). The Stockholders Agreement contains, among other things, significant restrictions on the Transfer of the securities of the Company and other
restrictions on the actions by certain stockholders of the Company relating to the Company and/or its securities. A copy of the Stockholders Agreement is available upon request from the Company.” 

(d)    The restrictive legends on any Subject Shares, including the legend in Section 4(c),
shall be removed if (i) such Subject Shares are sold pursuant to an effective Registration Statement, (ii) a Registration Statement covering the resale of such Subject Shares is effective under the Securities Act and the applicable
Stockholder delivers to the Company a representation letter (substantially in the form attached as Exhibit F, with such changes and modifications as any broker may reasonably request) agreeing that such Subject Shares will be sold under such
effective Registration Statement, pursuant to Rule 144 or pursuant to an exemption from registration under the Securities Act (subject to the transferee agreeing to similar restrictions), (iii) if such Subject Shares may be sold by the holder
thereof free of restrictions pursuant to Rule 

  
 12 

 
144(b) under the Securities Act, or (iv) such Subject Shares are being sold, assigned or otherwise transferred pursuant to Rule 144 under the Securities Act; provided, that with
respect to clause (iii) or (iv) above, the holder of such shares of Common Stock has provided all necessary documentation and evidence (which may include an opinion of counsel) as may reasonably be required by the Company to
confirm that the legend may be removed under applicable securities Law. The Company shall cooperate with the applicable Stockholder of Subject Shares to effect removal of the legends on such shares pursuant to this
Section 4(d) as soon as reasonably practicable after delivery of notice from such Holder that the conditions to removal are satisfied (together with any documentation required to be delivered by such Stockholder pursuant to
the immediately preceding sentence). The Company shall bear all costs and expenses associated with the removal of a legend pursuant to this Section 4(d). 

Section 5.    Registration Rights. 

(a)    Shelf Registration. 

(i)    Within five (5) Business Days following the Closing Date, the Company shall file with the
Commission a Registration Statement covering the resale or other disposition of all of the Registrable Securities of Holders that have furnished in writing by the Closing Date the information requested under Section 5(n)
hereof (a “Shelf Registration Statement”). 
 (ii)    The Company shall use its
commercially reasonable efforts to cause such Shelf Registration Statement to become immediately effective upon filing, or if the form of such Shelf Registration Statement would not permit immediate effectiveness, to be declared effective by the
Commission as soon as reasonably practicable after the initial filing of the Shelf Registration Statement, but in any event within ninety (90) days following filing of a Registration Statement on Form S-1
and within forty-five (45) days after filing of a Registration Statement on Form S-3 (if such Form S-3 is not immediately effective upon filing). If at any time a
Registration Statement filed with the Commission pursuant to this Section 5 is effective and Sinclair HoldCo provides written notice to the Company that one or more Holders intend to effect an offering of all or part of the
Registrable Securities included on such Registration Statement, the Company will amend or supplement such Registration Statement as may be necessary in order to enable such offering to take place in accordance with the terms of this Agreement. 

(iii)    If any Registration Statement ceases to be effective under the Securities Act for any reason at
any time (including by expiration of effectiveness with respect to any Registration Statement on Form S-3ASR) while Registrable Securities are still outstanding, the Company shall use its commercially
reasonable efforts to (a) cause, as promptly as is reasonably practicable, such Registration Statement to again become effective under the Securities Act (including using its commercially reasonable efforts to obtain the prompt withdrawal of
any order suspending the effectiveness of such Registration Statement), and shall use its commercially reasonable efforts to amend, as promptly as is reasonably practicable, such Registration Statement in a manner reasonably expected to result in
the 

  
 13 

 
withdrawal of any order suspending the effectiveness of such Registration Statement or (b) to file an additional Registration Statement as a Shelf Registration Statement (a
“Subsequent Shelf Registration Statement”) registering the resale of all Registrable Securities (determined as of two (2) Business Days prior to such filing), and pursuant to any method or combination of methods legally
available to, and requested by, any Holder named therein. If a Subsequent Shelf Registration Statement is filed, the Company shall use its commercially reasonable efforts to (i) cause such Subsequent Shelf Registration Statement to become
effective under the Securities Act as promptly as is reasonably practicable after the filing thereof but in any event within ninety (90) days following filing of a Registration Statement on Form S-1 and
within forth-five (45) days after filing of a Registration Statement on Form S-3 (if such Form S-3 is not immediately effective upon filing) and (ii) keep such
Subsequent Shelf Registration Statement continuously effective, available for use to permit the Holders named therein to sell their Registrable Securities included therein and in compliance with the provisions of the Securities Act until such time
as there are no longer any Registrable Securities. 
 (b)    Underwritten Offerings. Subject to the provisions of
this Section 5, at any time and from time to time during the term of this Agreement, Sinclair HoldCo (on behalf of any Demanding Holder) shall have the right to make written requests to the Company for an Underwritten
Offering pursuant to a Registration Statement filed with the Commission pursuant to this Section 5 (an “Underwritten Demand”). Prior to making any Underwritten Demand, Sinclair HoldCo shall give prior
written notice of such Underwritten Demand to all of the other Holders, and such Underwritten Demand shall contain all of the Registrable Securities requested by all of the other Holders for inclusion in such Registration Statement. All Holders
proposing to distribute their Registrable Securities through such Underwritten Offering under this Section 5(b) shall enter into an underwriting agreement in customary form with the underwriter(s) selected for such
Underwritten Offering by the Company as described below. Any Underwritten Demand shall specify the aggregate amount of Registrable Securities intended to be included in such Underwritten Offering and the intended method of distribution thereof and
whether such offering shall be a “firm commitment” underwriting. Subject to Section 5(g), the Company shall include in such Underwritten Offering all of the Registrable Securities requested by any Holders for
inclusion in such Underwritten Demand. The Company shall have the right to select the managing underwriter or underwriters to administer any Underwritten Offering related to Underwritten Demands, which managing underwriters shall be selected from
those listed on Exhibit E, or, to the extent not listed on Exhibit E, which underwriter(s) shall be agreed upon by the Company and Sinclair HoldCo; provided, that in the event of a “bought deal” or similarly structured
transaction where underwriting terms and pricing are solicited from multiple managing underwriters, the Company shall designate three (3) or more participating underwriters for such transaction from those listed on Exhibit E or which are
otherwise agreed to by the Company and Sinclair HoldCo, and in such case, Sinclair HoldCo shall be entitled to select the managing underwriter from among the participating underwriters designated by the Company. In no event will the Company be
required to effect (i) more than eight (8) Block Trades, Other Coordinated Offerings or Underwritten Offerings relating to Underwritten Demands in the aggregate, or (ii) more than one (1) Block Trade, Other Coordinated Offering
or Underwritten Offering relating to an Underwritten Demand in the aggregate during any one hundred and eighty (180)-day period. The one hundred and eighty (180)-day
periods reference in the preceding sentence will be counted beginning on the Closing Date. 

  
 14 

 (c)    Company’s Right to Defer Registration. The Company
shall be entitled (A) to delay or suspend the (i) initial effectiveness (but not the preparation) of any Registration Statement or (ii) launch of any Underwritten Offering, in each case, filed or requested pursuant to this Agreement,
and (B) from time to time to require the Holders not to sell under any Registration Statement or Prospectus or to suspend the effectiveness thereof, if such initial effectiveness or offering launch would (I) materially interfere with any
active and ongoing material financing, acquisition, corporate reorganization or merger or other material transaction involving the Company, including negotiations related thereto, (II) require the Company to disclose any material nonpublic
information the disclosure of which would reasonably be likely to be detrimental to the Company, or (III) would otherwise have a material adverse effect on the Company’s business or financial condition, in each case as reasonably
determined by the Board in good faith (a “Valid Business Reason”); provided, however, that the Company may not delay or suspend a Registration Statement, Prospectus or Underwritten Offering for more than sixty
(60) consecutive calendar days, or more than ninety (90) days total in any twelve (12)-month period. The Company shall give written notice to Sinclair HoldCo (on behalf of the Holders) of its determination to delay or suspend a
Registration Statement, Prospectus or Underwritten Offering and of the fact that the Valid Business Reason for such postponement no longer exists, in each case, promptly after the occurrence thereof. 

(d)    Registration Statement Form. Registrations under this Section 5 shall be on such
appropriate registration form of the Commission (i) as shall be selected by the Company and as shall be reasonably acceptable to Sinclair HoldCo (on behalf of the Holders) and (ii) as shall permit the transfer of Registrable Securities in
accordance with the intended method or methods of transfer specified by the Holders of Registrable Securities, it being agreed with respect to clauses (i) and (ii) that any Registration Statement shall be an automatic shelf registration
statement (as defined in Rule 405) if the Company is a well-known seasoned issuer (as defined in Rule 405) at the most recent applicable eligibility determination date and (iii) any such Registration Statement shall be on Form S-3 or similar short-form registration statement available to the Company to the extent that the Company is eligible to use such form. If, in connection with any registration under this
Section 5, the managing underwriter, if any, shall advise the Company in writing that in its opinion the use of another permitted form is of material importance to the success of the offering, then such registration shall
be on such other permitted form. 
 (e)    Withdrawal. The Demanding Holders initiating an Underwritten Offering
pursuant to this Section 5 shall have the right to withdraw from such Underwritten Offering for any or no reason whatsoever upon written notification from Sinclair HoldCo to the Company of the intention to withdraw from
such Underwritten Offering prior to the launch of such Underwritten Offering. Following the delivery of any such withdrawal notice to the Company, Sinclair HoldCo shall promptly forward such Withdrawal Notice to any other Holders that had elected to
participate in such Underwritten Offering. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with an Underwritten Demand prior to its withdrawal. The
Demanding Holders shall be deemed to have effected an Underwritten Demand if (i) the Underwritten Demand is launched but not consummated, unless (x) the Registration Statement applicable to such Underwritten

  
 15 

 
Offering is or becomes subject to any stop order, injunction or other Order of the Commission or other Governmental Authority or court by reason of an act or omission by the Company, (y) the
conditions to closing specified in the purchase agreement or underwriting agreement entered into in connection with such Underwritten Offering are not satisfied or waived because of an act or omission by the Company (other than a failure of the
Company or any of its officers or employees to execute or deliver any closing certificate by reason of facts or circumstances existing due to actions of any Holder) or (z) the Holders participating in such Underwritten Offering elect to pay and
have paid to the Company in full the Registration Expenses associated with such Underwritten Offering. 

(f)    Piggyback Registration. If the Company at any time proposes for any reason other than a filing made pursuant
to Section 5(a) or a request made pursuant to Section 5(b) to (i) register Common Stock under the Securities Act (other than on Form S-4 or Form S-8 promulgated under the Securities Act or any successor forms thereto) or (ii) consummate an Underwritten Offering, in either case, for its own account or for the account of other stockholders of the Company,
it shall promptly give notice of such proposed action to Sinclair HoldCo on behalf of the Holders as soon as reasonably practicable (but in the case of filing a Registration Statement, no later than twenty (20) days before the anticipated
filing date), which notice shall (A) describe the amount and type of securities to be included, the intended method(s) of distribution and the name of the proposed managing underwriter or underwriters, if any, and (B) offer to all of the
Holders the opportunity to register or offer for sale such number of Registrable Securities as such Holders may request in writing within (a) five (5) Business Days in the case of filing a Registration Statement and (b) two (2)
Business Days in the case of an Underwritten Offering (unless such offering is an overnight or bought Underwritten Offering, then one (1) Business Day), in each case after receipt of such written notice (such Registration, a “Piggyback
Registration”). The Company shall use its commercially reasonable efforts to cause all such Registrable Securities for which such a request(s) is timely received by the Company to be included in such Piggyback Registration on the same terms
and conditions as the Common Stock otherwise being sold in such Piggyback Registration, and in any event, the Company shall include the Registrable Securities on the same terms and conditions as the Common Stock otherwise being sold in such
Piggyback Registration. Any Holder shall have the right to withdraw from a Piggyback Registration for any or no reason whatsoever upon written notification to the Company and the underwriter or underwriters (if any) of his, her or its intention to
withdraw from such Piggyback Registration prior to, as applicable, the effectiveness of the Registration Statement filed with the Commission with respect to such Piggyback Registration or the pricing of the Underwritten Offering with respect to such
Piggyback Registration. The Company (whether on its own good faith determination or as the result of a request for withdrawal by Persons pursuant to separate written contractual obligations) may withdraw a Registration Statement filed with the
Commission in connection with a Piggyback Registration at any time prior to the effectiveness of such Registration Statement or abandon an Underwritten Offering in connection with a Piggyback Registration at any time prior to the launch of such
Underwritten Offering. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with the Piggyback Registration. For purposes of clarity, any Registration or
Underwritten Offering effected pursuant to this Section 5(f) shall not be counted as an Underwritten Offering pursuant to an Underwritten Demand effected under Section 5(b). 

  
 16 

 (g)    Cutbacks. If the managing underwriter in good faith
advises the Company that the inclusion of all such Registrable Securities proposed to be included in any Underwritten Demand or Piggyback Registration pursuant to Section 5(b) or Section 5(f) would
have a negative effect on the pricing of the Common Stock of the Company to be offered thereby, then the number of shares of Common Stock proposed to be included in such Underwritten Demand or Piggyback Registration shall be allocated among the
Company and the selling Holders in the following order of priority: 
 (i)    In the case of an
Underwritten Offering pursuant to Section 5(b), 
  

	 	(A)	 first, to the Registrable Securities to be offered by the Holders pro rata based on the number of shares
of Registrable Securities Beneficially Owned; 

  

	 	(B)	 then, to Common Stock to be offered by the Company, if any; and 

 

	 	(C)	 then, to Common Stock to be offered by other stockholders who are not Holders, if any. 

(ii)    In the case of a registration pursuant to Section 5(f) or any other
registration, 
  

	 	(A)	 first, to the Common Stock to be offered by the Company; 

 

	 	(B)	 then, to the Registrable Securities to be offered by the Holders pro rata based on the number of shares
of Registrable Securities Beneficially Owned; and 

  

	 	(C)	 then, to Common Stock to be offered by other stockholders who are not Holders, if any. 

(h)    Block Trade; Other Coordinated Offerings. 

(i)    Subject to Section 5(b) and Section 5(c), at any
time and from time to time when an effective Registration Statement is on file with the Commission, if a Demanding Holder wishes to engage in (a) an underwritten registered offering not involving a “roadshow,” an offer commonly known
as a “block trade” (a “Block Trade”), or (b) an “at the market” or similar registered offering through a broker, sales agent or distribution agent, whether as agent or principal, (an “Other
Coordinated Offering”), in each case, (x) with a total offering price reasonably expected to exceed, in the aggregate, $100 million or (y) involving all remaining Registrable Securities held by the Demanding Holder, then if
such Demanding Holder requires any assistance from the Company pursuant to this Section 5(h), Sinclair HoldCo shall notify the Company of the Block Trade or Other Coordinated Offering at least ten (10) Business Days
prior to the day such offering is to commence and the Company shall as expeditiously as possible use its commercially reasonable efforts to facilitate such Block Trade or Other Coordinated Offering; 

  
 17 

 
provided that the Demanding Holders representing a majority of the Registrable Securities wishing to engage in the Block Trade or Other Coordinated Offering shall use commercially
reasonable efforts to work with the Company and any underwriters, brokers, sales agents or placement agents (each, a “Financial Counterparty”) prior to making such request in order to facilitate preparation of the registration
statement, prospectus and other offering documentation related to the Block Trade or Other Coordinated Offering. 

(ii)    Prior to the filing of the applicable “red herring” prospectus or prospectus supplement
used in connection with a Block Trade or Other Coordinated Offering, a majority-in interest of the Demanding Holders initiating such Block Trade or Other Coordinated Offering shall have the right to withdraw
from such Block Trade or Other Coordinated Offering for any or no reason whatsoever upon written notification to the Company, the underwriter or underwriters (if any) and Financial Counterparty (if any). Notwithstanding anything to the contrary in
this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with a Block Trade or Other Coordinated Offering prior to its withdrawal. 

(iii)    The Company shall have the right to select the underwriter or Financial Counterparty (if any) for
any Block Trade or Other Coordinated Offering, which underwriter or Financial Counterparty, to the extent not listed on Exhibit E, shall be agreed upon by the Company and Sinclair HoldCo; provided, that in the event of a
“bought deal” or similarly structured transaction where underwriting terms and pricing are solicited from multiple managing underwriters, the Company shall designate three (3) or more participating underwriters for such transaction
from those listed on Exhibit E or which are otherwise agreed to by the Company and Sinclair HoldCo, and in such case, Sinclair HoldCo shall be entitled to select the managing underwriter from among the participating underwriters
designated by the Company; and provided, further, that to the extent the Demanding Holders can demonstrate to the Company that a proposed Block Trade or Other Coordinated Offering was the result of a reverse inquiry by a Financial
Counterparty to the Demanding Holders, the Demanding Holders may request the Company’s consent to use such Financial Counterparty, which consent will not be unreasonably withheld. 

(i)    Holdback Agreement. In connection with any Underwritten Offering (including any Block Trade or Other
Coordinated Offering) in which a Holder includes Registrable Securities pursuant to this Agreement, each such Holder agrees to execute and deliver a lock-up agreement pursuant to which such Holder agrees with
the underwriter not to sell or purchase any securities of the Company for the shorter of (i) the same period of time following the Underwritten Offering as is agreed to by the Company and the other participating Holders (not to exceed the
shortest number of days that a director of the Company, “executive officer” (as defined under Rule 3b-7 of the Exchange Act) of the Company or any stockholder of the Company (other than such Holder
or director or employee of, or consultant to, the Company) who owns 10% or more of the outstanding Shares contractually agrees with the underwriters of such Underwritten Offering not to sell any securities of the Company following such Underwritten
Offering and (ii) forty-five (45) days from the date of the execution of the underwriting agreement with respect to such Underwritten Offering). 

  
 18 

 (j)     Preparation and Filing. If and whenever the Company is
under an obligation pursuant to the provisions of this Agreement to use its commercially reasonable efforts to effect the registration of any Registrable Securities, the Company shall, as expeditiously as practicable: 

(i)    use its commercially reasonable efforts to cause a Registration Statement that registers such
Registrable Securities to become and remain effective until all of such Registrable Securities have been transferred or are no longer outstanding; 

(ii)    furnish, at least five (5) days before filing a Registration Statement that registers such
Registrable Securities, any Preliminary Prospectus and the Prospectus relating thereto or any amendments or supplements relating to such a Registration Statement or such prospectuses, to one counsel acting on behalf of all selling Holders selected
by Holders of a majority of the Registrable Securities to be sold (the “Sellers’ Counsel”), copies of all such documents proposed to be filed (it being understood that such five (5) day period need not apply to successive
drafts of the same document proposed to be filed so long as such successive drafts are supplied to such counsel in advance of the proposed filing by a period of time that is customary and reasonable under the circumstances), and shall use its
commercially reasonable efforts to reflect in each such document, when so filed with the Commission, such comments as the Holders whose Registrable Securities are to be covered by such Registration Statement may reasonably propose, unless contrary
to applicable Law or the Company reasonably expects that so doing would cause the document to contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein
not misleading; 
 (iii)    prepare and file with the Commission such amendments and supplements to such
Registration Statement and the Prospectus used in connection therewith as may be reasonably requested by the Holders and as may be necessary to update the list of selling stockholders therein or to keep such Registration Statement effective (in each
case including all exhibits thereto and documents incorporated by reference therein) until all of such Registrable Securities have been transferred or are no longer outstanding and to comply with the provisions of the Securities Act with respect to
the sale or other transfer of such Registrable Securities; 
 (iv)    promptly notify the Sellers’
Counsel in writing (A) of the receipt by the Company of any notification with respect to any comments by the Commission with respect to such Registration Statement, any Preliminary Prospectus, the Prospectus or any Issuer Free Writing
Prospectus, or any request by the Commission for the amending or supplementing thereof or for additional information with respect thereto, (B) of the receipt by the Company of any 

  
 19 

 
notification with respect to the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of such Registration Statement or any amendment or supplement
thereto or the initiation of any proceedings for that purpose and (C) of the receipt by the Company of any notification with respect to the suspension of the qualification of such Registrable Securities for sale in any jurisdiction or the
initiation or threatening of any proceeding for such purposes; 
 (v)    use its commercially reasonable
efforts to (A) register or qualify the Registrable Securities covered by the applicable Registration Statement under such securities or “blue sky” Laws of such jurisdictions in the United States as the selling Holders included in such
Registration Statement (in light of their intended plan of distribution) may request (or provide evidence satisfy to such selling Holders that the Registrable Securities are exempt from such registration or qualification) and (B) cause such
Registrable Securities to be registered with or approved by such other Governmental Authorities as may be necessary by virtue of the business and operations of the Company to enable the holders of such Registrable Securities to consummate the
transfer of such Registrable Securities; 
 (vi)    furnish to each selling Holder and the underwriters
or Financial Counterparties, if any, such number of copies of such Registration Statement, any amendments thereto, any exhibits thereto or documents incorporated by reference therein (but only to the extent not publicly available on EDGAR or the
Company’s website), any Preliminary Prospectus, any Issuer Free Writing Prospectus and the Prospectus (each in conformity with the requirements of the Securities Act), and such other documents as such selling Holder, underwriters or Financial
Counterparties may reasonably request in order to facilitate the public offering and sale or other transfer of such Registrable Securities; 

(vii)    notify in writing on a timely basis each selling Holder at any time when the Prospectus is
required to be delivered under the Securities Act, when the Company becomes aware of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then in effect, includes an untrue statement of a
material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing and, at the request of such Holder, prepare and furnish to such
Holder a number of copies reasonably requested by such Holder of a supplement to or an amendment of such Prospectus as may be necessary so that, as thereafter delivered to the offerees of such Registrable Securities, such Prospectus shall not
include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; 

(viii)    use its commercially reasonable efforts to prevent the issuance of an Order suspending the
effectiveness of a Registration Statement, and if one is issued, use its commercially reasonable efforts to obtain the withdrawal of any Order suspending the effectiveness of a Registration Statement as soon as possible; 

  
 20 

 (ix)    retain in accordance with the Rules and
Regulations all Issuer Free Writing Prospectuses not required to be filed pursuant to the Rules and Regulations; and if at any time after the date thereof any event shall have occurred as a result of which any Issuer Free Writing Prospectus, as then
amended or supplemented, would conflict with the information in the Registration Statement, the most recent Preliminary Prospectus or the Prospectus or would include an untrue statement of a material fact or omit to state any material fact necessary
in order to make the statements therein, in light of the circumstances under which they were made, not misleading, or, if for any other reason it shall be necessary to amend or supplement any Issuer Free Writing Prospectus in order to effect
compliance with the Securities Act and the Rules and Regulations, to notify promptly in writing the selling Holders, underwriters and Financial Counterparties and, if required by applicable Law, to file such document and to prepare and furnish
without charge to each such selling Holder, underwriter and Financial Counterparty as many copies as each such selling Holders, underwriter and Financial Counterparty may from time to time reasonably request of an amended or supplemented Issuer Free
Writing Prospectus that will correct such conflict, statement or omission or effect compliance with the Securities Act and the Rules and Regulations; 

(x)    make available for inspection by any underwriter or Financial Counterparty participating in any
transfer pursuant to such Registration Statement and any attorney, accountant or other agent retained by any such Financial Counterparty, during normal business hours and at the offices where normally kept, all pertinent financial and other records,
pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers,
managers and employees to supply all information (together with the Records, the “Information”) reasonably requested by any such Person in connection with such Registration Statement; 

(xi)    in the case of an Underwritten Offering, a Block Trade or an Other Coordinated Offering, use its
commercially reasonable efforts to obtain from its Accountants a “comfort” letter delivered to the underwriters in such offering in customary form and covering such matters of the type customarily covered by comfort letters; 

(xii)    in the case of an Underwritten Offering, a Block Trade or an Other Coordinated Offering, use its
commercially reasonable efforts to obtain from its counsel an opinion or opinions in customary form; 

(xiii)    in the case of an Underwritten Offering, a Block Trade or an Other Coordinated Offering, enter
into and perform its obligations under an underwriting or other purchase or sales agreement, in usual and customary form, with the managing Underwriter or Financial Counterparty of such offering or sale; 

  
 21 

 (xiv)    provide a transfer agent and registrar (which
may be the same entity) for all such Registrable Securities and a CUSIP number for such Registrable Securities, in each case no later than the effective date of such registration; 

(xv)    upon the request of any Financial Counterparty, issue to any Financial Counterparty to which any
selling Holder may sell Registrable Securities in such offering, certificates evidencing such Registrable Securities; 

(xvi)    use its commercially reasonable efforts to list for trading such Registrable Securities on any
national securities exchange on which any shares of Common Stock are listed for or admitted to trading; 

(xvii)    in connection with an Underwritten Offering, participate, to the extent reasonably requested by
the managing underwriter for the offering and the selling Holders, in customary efforts to sell the Registrable Securities being offered, including making available senior management officers of the Company for participation in “road
shows,” drafting sessions and other meetings or presentations as is customary; 

(xviii)    reasonably cooperate with each Holder, underwriter and Financial Counterparty participating in
the transfer of Registrable Securities and their respective counsel in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”), including, if appropriate, the pre-filing of the Prospectus as part of a shelf registration in advance of an Underwritten Offering, a Block Trade or an Other Coordinated Offering; 

(xix)    during the period when the Prospectus is required to be delivered under the Securities Act,
promptly file all documents required to be filed with the Commission, including pursuant to Sections 13(a), 13(c), 14, or 15(d) of the Exchange Act; and 

(xx)    use its commercially reasonable efforts to take all other steps necessary to effect the
registration of such Registrable Securities contemplated hereby. 
 (k)    Expenses. All expenses incident to the
Company’s performance of, or compliance with, this Section 5, including (i) all registration and filing fees, and any other fees and expenses associated with filings required to be made with any stock exchange,
the Commission and FINRA (including, if applicable, the fees and expenses of any “qualified independent underwriter” and its counsel as may be required by the rules and regulations of FINRA); (ii) all fees and expenses of compliance with
state securities or “blue sky” Laws (including fees and disbursements of counsel for the underwriters or Holders in connection with “blue sky” qualifications of the Registrable Securities and determination of their eligibility
for investment under the Laws of such jurisdictions as the managing underwriters may designate); (iii) all printing and related messenger and delivery expenses (including expenses of printing certificates for the Registrable Securities in a form
eligible for deposit with The Depository Trust Company (or any other depositary or transfer agent/registrar) and of printing any Preliminary Prospectus, any Issuer 

  
 22 

 
Free Writing Prospectus and the Prospectus and any amendments thereto); (iv) all fees and disbursements of counsel for the Company and of all independent certified public accountants of the
issuer (including the expenses of any special audit and “comfort” letters required by or incident to such performance); (v) all Securities Act liability insurance if the Company so desires or the underwriters so require; (vi) all fees
and expenses incurred in connection with the listing of the Registrable Securities for trading on any securities exchange; (vii) all road show or similar marketing expenses; and (viii) reasonable fees and expenses of one (1) legal
counsel selected by the Demanding Holders holding a majority of the Registrable Securities to be sold by all the Demanding Holders initiating an Underwritten Demand, or in the case of a Piggyback Registration, by the Holders of a majority of the
Registrable Securities participating in the registration or offering, or in the case of a Block Trade or Other Coordinated Offering, by the Holders of a majority of the Registrable Securities participating in the offering (all such expenses being
herein called “Registration Expenses”), will be borne by the Company, regardless of whether the Registration Statement becomes effective or any Underwritten Offering, Block Trade or Other Coordinated Offering is consummated;
provided, however, that all underwriting discounts and selling commissions applicable to the Registrable Securities shall not be borne by the Company, but shall be borne by the seller or sellers thereof, in proportion to the number of
Registrable Securities sold by such seller or sellers. In addition, the Company will, in any event, pay its internal expenses (including all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of
any audit and the fees and expenses of any Person, including special experts, retained by the Company. 

(l)    Indemnification. 

(i)    In connection with any registration of any Registrable Securities under the Securities Act or any Underwritten
Offering, Block Trade or Other Coordinated Offering pursuant to this Agreement, the Company shall indemnify and hold harmless each Holder of such Registrable Securities, each underwriter, Financial Counterparty or any other Person acting on behalf
of such seller and each other Person, if any, who controls any of the foregoing Persons within the meaning of the Securities Act against any losses, claims, damages or liabilities and expenses, joint or several, to which any of the foregoing Persons
may become subject under the Securities Act or otherwise, to the extent that such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (1) any untrue statement or alleged untrue statement of a
material fact contained in (A) any Preliminary Prospectus, any Registration Statement, the Prospectus or in any amendment or supplement thereto, (B) any Issuer Free Writing Prospectus or in any amendment or supplement thereto, (C) any
Permitted Issuer Information used or referred to in any “free writing prospectus” (as defined in Rule 405) used or referred to by any underwriter or Financial Counterparty, (D) any “road show” (as defined in Rule 433) not
constituting an Issuer Free Writing Prospectus, when considered together with the most recent Preliminary Prospectus (collectively, “Road Show Material”), or (E) any filing made in connection with the qualification of the
offering under the securities or other “blue sky” Laws of any jurisdiction in which Registrable Securities are offered (collectively, “Blue Sky Filings”), (2) the omission or alleged omission to state in any
Preliminary Prospectus, the Registration Statement, the Prospectus, any Issuer Free Writing Prospectus or in any amendment or supplement thereto or in any Permitted Issuer Information or any Road Show Material or any Blue Sky Filings any material
fact required to be stated therein or necessary to make the statements therein (in the case of any Preliminary Prospectus, Issuer Free Writing Prospectus, Permitted Issuer Information, Road 

  
 23 

 
Show Material, Blue Sky Filings and the Prospectus, in the light of the circumstances under which they were made) not misleading or (3) any violation or alleged violation by the Company of
the Securities Act, the Exchange Act, any other federal Law, any state or foreign securities Law, or any rule or regulation promulgated under any of the foregoing Laws, relating to the offer or sale of the Registrable Securities or “blue
sky” Laws applicable to the Company and relating to action or inaction required of the Company in connection with such registration or qualification under such state securities or blue sky Laws; and the Company shall reimburse such seller,
underwriter, Financial Counterparty or other Person acting on behalf of such seller and each such controlling Person for any legal or other expenses reasonably incurred by any of them in connection with investigating or defending any such loss,
claim, damage, liability or action; provided, however, that the Company shall not be liable in any such case to any Holder, Underwriter or Financial Counterparty to the extent that any such loss, claim, damage or liability (or action
in respect thereof) arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in the Preliminary Prospectus, the Registration Statement, the Prospectus, any Issuer Free Writing Prospectus or
in any such amendment or supplement thereto or in any Permitted Issuer Information or any Road Show Material in reliance upon and in conformity with written information relating to such Holder, Underwriter or Financial Counterparty, as the case may
be, furnished to the Company through an instrument duly executed by such Holder, Underwriter or Financial Counterparty, as applicable, specifically for use in the preparation thereof. 

(ii)    In connection with any registration of Registrable Securities under the Securities Act or any Underwritten
Offering, Block Trade or Other Coordinated Offering pursuant to this Agreement, each seller of Registrable Securities shall indemnify and hold harmless (in the same manner and to the same extent as set forth in the preceding paragraph of this
Section 5(l)) the Company, each officer of the Company who shall sign such Registration Statement, each underwriter, Financial Counterparty or other Person acting on behalf of such seller, each Person who controls any of
the foregoing Persons within the meaning of the Securities Act and each other seller of Registrable Securities under such Registration Statement with respect to any statement or omission from any Preliminary Prospectus, the Registration Statement,
the Prospectus, any Issuer Free Writing Prospectus or in any amendment or supplement thereto or in any Road Show Material or Blue Sky Filings, if such statement or omission was made in reliance upon and in conformity with written information
relating to such seller or Registrable Securities furnished to the Company or such underwriter or Financial Counterparty through an instrument duly executed by such seller specifically for use in connection with the preparation of such Preliminary
Prospectus, Registration Statement, Prospectus, Issuer Free Writing Prospectus or in any amendment or supplement thereto or in any Road Show Material or Blue Sky Filings; provided, however, that the obligation to indemnify shall be
individual, not joint and several, for each seller of Registrable Securities and that the maximum amount of liability in respect of such indemnification shall be, limited, in the case of each seller of Registrable Securities, to an amount equal to
the net proceeds actually received by such seller from the sale of Registrable Securities effected pursuant to such registration. 

(iii)    Indemnification similar to that specified in Sections 5(l)(i) and (l)(ii) shall be given by the
Company and each seller of Registrable Securities (with such modifications as may be appropriate) with respect to any required registration or other qualification of such seller’s Registrable Securities under any Federal or state Law or
regulation of Governmental Authority other than the Securities Act. 

  
 24 

 (iv)    Promptly after receipt by an indemnified party of notice of the
commencement of any action involving a claim referred to in the preceding paragraphs of this Section 5(l), such indemnified party will, if a claim in respect thereof is made against an indemnifying party, give written
notice to the latter of the commencement of such action (provided, however, that an indemnified party’s failure to give such notice in a timely manner shall not relieve the indemnifying party of any liability that it may have to
the indemnified party hereunder except to the extent that the indemnifying party forfeits substantive rights or defenses by reason of such failure). In case any such action is brought against an indemnified party, the indemnifying party will be
entitled to participate in and to assume the defense thereof at its own expense, jointly with any other indemnifying party similarly notified to the extent that it may wish, with counsel reasonably satisfactory to such indemnified party, and after
notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party shall not be responsible for any legal or other expenses subsequently incurred by the indemnified party in
connection with the defense thereof. The indemnified party shall have the right to employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be paid by the indemnified party
unless (i) the indemnifying party agrees to pay the same, (ii) the indemnifying party fails to assume the defense of such action with counsel reasonably satisfactory to the indemnified party or (iii) the named parties to any such
action (including any impleaded parties) include both the indemnifying party and the indemnified party and such parties have been advised by such counsel that either (A) representation of such indemnified party and the indemnifying party by the
same counsel would be inappropriate under applicable standards of professional conduct or (B) there may be one or more legal defenses available to the indemnified party which are different from or additional to those available to the
indemnifying party. In any of such cases referred to in clauses (i)-(iii) of the immediately preceding sentence, the indemnifying party shall not have the right to assume the defense of such action on behalf of such indemnified party; it being
understood, however, that the indemnifying party shall not be liable for the fees and expenses of more than one separate firm of attorneys (in addition to any local counsel) for all indemnified parties. No indemnifying party shall be liable for any
settlement entered into without its written consent, which consent shall not be unreasonably withheld. No indemnifying party shall, without the written consent of such indemnified party, effect any settlement of any pending or threatened proceeding
in respect of which such indemnified party is a party and indemnity has been sought hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability for claims that are the
subject matter of such proceeding. 
 (v)    If the indemnification provided for in this
Section 5(l) is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, claim, damage or liability referred to herein, then the indemnifying party, in lieu of
indemnifying such indemnified party hereunder, shall contribute to the amounts paid or payable by such indemnified party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative fault of the
indemnifying party on the one hand and of the indemnified party on the other in connection with the statements or omissions which resulted in such loss, claim, damage or liability as well as any other relevant equitable considerations;
provided, however, that the maximum amount of liability in respect of such contribution shall be 

  
 25 

 
limited, in the case of each seller of Registrable Securities, to an amount equal to the net proceeds actually received by such seller from the sale of Registrable Securities effected pursuant to
such registration. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a
material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person
guilty of fraud shall be entitled to indemnification or contribution hereunder. 
 (vi)    The indemnification and
contribution provided for under this Agreement will remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party and will survive the transfer of Registrable Securities and the termination of this
Agreement. 
 (m)    Underwritten Offerings; Other Offerings. Notwithstanding anything to the contrary set forth
in this Agreement, to the extent that the Company and all the Holders selling Registrable Securities in any Underwritten Offering, Block Trade, Other Coordinated Offering or Piggyback Registration shall enter into an underwriting or similar
agreement on terms reasonably acceptable to the Company and such Holders (to the extent such terms are applicable to such Holders), which agreement contains provisions covering one or more issues addressed in this
Section 5, the provisions contained in this Section 5 addressing such issue or issues shall be of no force or effect with respect to such Underwritten Offering, Block Trade, Other Coordinated
Offering or Piggyback Registration; provided, however, that Section 5(l) shall remain in full force and effect unless such underwriting or similar agreement states that the indemnification provisions of such
agreement supersede Section 5(l). 
 (n)    Information by Holder. Each Holder whose
Registrable Securities are to be included in any Registration Statement or any Underwritten Offering, Block Trade or Other Coordinated Offering shall furnish to the Company such written information regarding such Holder and the distribution proposed
by such Holder as the Company may reasonably request in writing and as shall be reasonably required in connection with any registration, qualification or compliance referred to in this Agreement. 

(o)    Exchange Act Compliance. The Company shall comply with all of the reporting requirements of the Exchange Act
and shall comply with all other public information reporting requirements of the Commission which are conditions to the availability of Rule 144 for the sale of Registrable Securities. The Company shall cooperate with each Holder in supplying such
information as may be necessary for such Holder to complete and file any information reporting forms presently or hereafter required by the Commission as a condition to the availability of Rule 144 (or any comparable successor rules). The Company
shall furnish to each Holder upon request a written statement executed by the Company as to the steps it has taken to comply with the current public information requirement of Rule 144 (or such comparable successor rules). Subject to the
restrictions on Transfer set forth in this Agreement, the Company shall use its commercially reasonable efforts to facilitate and expedite transfers of Registrable Securities pursuant to Rule 144 under the Securities Act, which efforts shall include
timely notice to its transfer agent to expedite such transfers of Registrable Securities. 

  
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 (p)    Termination of Registration Rights. No Holder shall have
any registration rights under this Section 5 upon such Holder ceasing to Beneficially Own any Registrable Securities. In addition, any Holder shall be entitled to terminate such Holder’s rights under this
Section 5 by providing prior written notice to the Company and Sinclair HoldCo, which notice shall state the number of Registrable Securities held by such Holder and the date on which such termination shall be effective. Upon the
effectiveness of such termination, the Registrable Securities held by such Holder shall cease to have any registration rights under this Section 5; provided, that, for the avoidance of doubt, the indemnity provisions and expense
provisions contained in this Section 5 shall remain operative and in full force and effect regardless of any such termination. 

(q)    Registration Rights Notices. For administrative convenience, all notices to or from the Company in respect
of the Sinclair Parties shall be coordinated through Sinclair HoldCo or its designee. 
 (r)    Other Registration
Rights. The Company represents and warrants, as of the date hereof and as of the Closing Date, that no Person has any right to require the Company to register any securities of the Company for sale or to include such securities of the Company in
any Registration Statement filed by the Company for the sale of securities for its own account or for the account of any other Person. Effective beginning the date of this Agreement, the Company shall not, without the prior consent of a majority-in-interest of the Registrable Securities enter into any agreement with respect to its securities that is inconsistent in any material respect with, or provides
registration rights that are senior in priority to, the rights granted to Sinclair HoldCo or the Holders by this Agreement. In furtherance of the foregoing, in no event will the Company enter into any agreement that would permit another holder of
securities of the Company to participate on a pari passu basis (in terms of priority of cut-back based on advice of underwriters) with the Holders in an Underwritten Offering pursuant to
Section 5(b) or a Piggyback Registration pursuant to Section 5(f). 

Section 6.    Stockholder Actions; Standstill Restrictions. 

(a)    Each Sinclair Party agrees that, prior to the Standstill Termination Date, without the prior written approval of a
majority of the Disinterested Directors, or except as expressly contemplated by this Agreement, such Sinclair Party will not, and each Sinclair Party will cause each Sinclair Family Member that it controls (as distinguished from the ability to
influence) not to, directly or indirectly, in any manner (each of the following, “Prohibited Actions”): 

(i)    make a public announcement, proposal or offer (including any solicitation of proxies) to the Board or any of the
Company’s stockholders regarding, or otherwise solicit, seek or offer to effect, or otherwise publicly disclose an intent to propose or enter into or agree to enter into, singly or with any other Person, directly or indirectly, to effect
(A) any business combination, merger, tender offer, exchange offer or similar transaction (whether or not involving a Change of Control) involving the Company or any of its subsidiaries, or (B) any restructuring, recapitalization,
liquidation or similar transaction involving the Company or any of its subsidiaries; provided, however, that the Sinclair Parties and their Affiliates may privately communicate any such proposal or offer to the Company so long as such
private communications do not trigger public disclosure obligations (including the filing of a Schedule 13D or Schedule 13G or any amendment to such a filing); 

  
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 (ii)    form, join or participate in any Group with respect to the
Common Stock other than forming, joining or participating in a group solely between or among (i) Sinclair HoldCo and some or all of the Stockholders or (ii) Sinclair HoldCo, some or all of the Stockholders and their Permitted Transferees
with respect to any shares of Common Stock lawfully transferred to any such Permitted Transferee; 
 (iii)    enter,
agree to enter, propose or offer to enter into any merger, business combination, recapitalization, restructuring, change in control transaction or other similar extraordinary transaction involving the Company or any of its subsidiaries (unless such
transaction is recommended by the Board); 
 (iv)    otherwise act with any Person, including by providing financing
for another party, to seek to control the management, the Board or the policies of the Company (other than any appointment or removal of a Sinclair Designee); 

(v)    acquire, agree or propose or offer to acquire (including through any hedging, swap or other similar transaction)
directly or indirectly, whether by purchase, tender or exchange offer, through the acquisition of control of another Person, by joining a partnership, limited partnership, syndicate or other group (including any group of Persons that would be
treated as a single “person” under Section 13(d) of the Exchange Act) any Common Stock or securities that are convertible or exchangeable into (or exercisable for) Common Stock, other than (A) pursuant to a Permitted Transfer or
(B) as a result of any stock split, reverse stock split, stock dividend, distributions, combinations, reclassifications or other similar transaction of voting securities of the Company; 

(vi)    engage in any solicitation of proxies or written consents to vote any voting securities of the Company, or
conduct any non-binding referendum with respect to any voting securities of the Company, or knowingly assist or participate in any other way, directly or indirectly, in any solicitation of proxies or written
consents with respect to any voting securities of the Company, or otherwise become a “participant” in a “solicitation,” as such terms are defined in the rules under the Exchange Act; 

(vii)    call, or seek to call, a meeting of the stockholders of the Company or initiate any stockholder proposal for
action by stockholders of the Company or advise, encourage or influence any Person (other than its Affiliates and the other Sinclair Parties) with respect to the voting or disposition of any Common Stock (including in any “vote no,”
“withhold” or similar campaign); 
 (viii)    seek, or encourage any Person, to submit nominations to the
Board in furtherance of a “contested solicitation” for the election or removal of directors from the Board or seek or knowingly encourage the removal of any members of the Board or the election of any directors (other than nominees
recommended by the Board); 
 (ix)    demand a copy of the Company’s list of stockholders, whether pursuant to
Section 220 of the DGCL or pursuant to any other statutory right; 

  
 28 

 (x)    deposit any Common Stock in any voting trust or subject any
Common Stock to any arrangement or agreement with respect to the voting of any Common Stock (other than any such voting trust, arrangement or agreement solely among the Sinclair Parties that is otherwise in accordance with this Agreement); 

(xi)    publicly disclose any intention, plan or arrangement prohibited by, or inconsistent with, the foregoing or enter
into any negotiations, agreements or understandings with any Person with respect to any of the foregoing; 

(xii)    publicly disclose, or take any action that would reasonably cause the public disclosure (including the filing of
any document with the Commission or any disclosure to any journalist, member of the media or securities analyst) of, any intent, purpose, plan or proposal to request that the Company or the Board waive, terminate or amend the restrictions in this
Section 6(a); or 
 (xiii)    knowingly facilitate, encourage or assist any third party to do any of the
foregoing. 
 Notwithstanding anything to the contrary contained in this Agreement, none of the Sinclair Parties shall be prohibited or restricted from:
(A) communicating privately with the Board or any officer or director of the Company regarding any matter, so long as such communications are not intended to, and would not reasonably be expected to, require any public disclosure of such
communications by any of the Sinclair Parties or their respective Affiliates, the Company or its Affiliates or any third party, subject in any case to any confidentiality obligations to the Company of any such director or officer and applicable Law,
rules or regulations; (B) taking any action necessary to comply with any Law or any action required by any Governmental Authority or stock exchange that has, or may have, jurisdiction over any Sinclair Party, provided that a breach by
such Sinclair Party of this Agreement is not the cause of the applicable requirement; (C) privately communicating to any Sinclair Family Member publicly available information regarding the Company, provided such communications are not
otherwise reasonably expected to be publicly disclosed; (D) privately communicating to any Sinclair Family Member in a manner that otherwise does not violate the terms of this Agreement; or (E) publicly providing the information required
by Item 5.02(a) of Form 8-K. 
 (b)    The provisions set forth in
Section 6(a) shall not limit the actions of any Sinclair Designee in his or her capacity as a director of the Company (including receipt of any equity incentive or similar awards), recognizing that such actions are subject
to such person’s fiduciary duties to the Company and its stockholders (it being understood and agreed that none of Sinclair HoldCo, the Stockholders, or any of their Affiliates shall seek to do indirectly through any Sinclair Designee any
action that would be prohibited if done directly by Sinclair HoldCo, a Stockholder, or any of their respective Affiliates pursuant to this Section 6). 

(c)    Other than with respect to Subject Shares that are not Restricted Shares, each of the Sinclair Parties represents
and warrants to the Company that, as of the date hereof and as of the effectiveness of this Agreement, neither it, nor any of its Affiliates is engaged in any discussions or negotiations with any Person who is not a Sinclair Family Member, and
neither it, nor any of its Affiliates has any agreements, arrangements, or understandings, written or oral, formal or informal, and whether or not legally enforceable with any Person who is not a Sinclair Family Member concerning the acquisition of
Beneficial Ownership of any securities of the Company. 

  
 29 

 (d)    No later than ten (10) calendar days following the Closing
(or such other date as required by applicable Law), Sinclair HoldCo shall file a Schedule 13D with the Commission with respect to the Company reporting the entry into this Agreement, responding to applicable items of Schedule 13D to conform to their
obligations thereunder and appending or incorporating by reference this Agreement as an exhibit thereto. Sinclair HoldCo shall provide the Company and its counsel a reasonable opportunity to review and comment on the Schedule 13D prior to such
filing, which comments shall be considered in good faith. During the term of this Agreement, each Sinclair Party shall file a Schedule 13D and any amendments to such Schedule 13D with the Commission as and when required by Law. Each Sinclair Party
shall provide the Company and its counsel a reasonable opportunity to review and comment on any amendment to a Schedule 13D prior to such filing, which comments shall be considered in good faith, provided, however, that a Sinclair
Party will not be required to provide amendments to such Schedule 13D for review by the Company and its counsel to the extent any such amendment solely relates to the disposition of Common Stock. 

(e)    Notwithstanding the standstill restrictions in Section 6(a) or the restrictions set forth
in Section 3 or Section 4, at any time during which the Company has executed and delivered a definitive agreement or during which there shall be pending a tender offer or exchange offer for Common
Stock from a third party that has been approved or recommended by the Board, in each case with respect to a Change of Control (each, a “Pending Transaction”), the Sinclair Parties shall be free to Transfer Subject Shares without
regard to the restrictions set forth in Section 3 or Section 4 and shall be entitled to take any Prohibited Actions solely to the extent relating to, or taken with respect to, the Pending
Transaction, or any alternative transaction to the Pending Transaction. If the Pending Transaction and any other Change of Control transactions are abandoned prior to consummation, the standstill restrictions in
Section 6(a) will be restored until they otherwise terminate on the Standstill Termination Date and the restrictions of Section 3 and Section 4 shall thereafter be applicable to
future Transfers of Subject Shares by the Sinclair Parties until such restrictions terminate at the end of the Lock-up Period (with respect to Section 3) or the Sunset Date (with
respect to Section 4). 
 Section 7.    Voting. 

(a)    Subject to Section 6(a), each Sinclair Party may vote, grant a proxy to vote, or execute a
written consent with respect to, any or all of the voting securities of the Company as to which they are entitled to vote, grant a proxy to vote, or execute a written consent, as they may determine in their sole discretion, except with respect to
the following matters: 
 (i)    with respect to each nominee for election to the Board, each Sinclair
Party shall vote either (in such Sinclair Party’s sole discretion) (A) in accordance with the Board’s recommendation or (B) in the same proportion as the votes cast by stockholders of the Company who are not Sinclair Parties; and

 (ii)    with respect to (A) the ratification of the appointment of the Company’s independent
registered public accounting firm, (B) any “say-on-pay” 

  
 30 

 
proposal of the Company, (C) any stockholder proposal, or (D) any proposal related to an incentive compensation plan or material amendment thereof, in each case that is submitted to the
Company’s stockholders for approval, each Sinclair Party shall vote, in each case, in accordance with the Board’s recommendation. 

(b)    In furtherance of Section 7(a), each Sinclair Party shall be present in person or
represented by execution and submission to the Company of the proxy card or voting instruction form solicited by the Company or the Board at all meetings of stockholders to the extent necessary so that all voting securities of the Company as to
which they are entitled to vote shall be counted as present for the purpose of determining the presence of a quorum at such meeting. 

(c)    A Sinclair Party shall be subject to the voting restrictions in Sections 7(a)(i) and (ii) until the
date the Sinclair Parties are no longer entitled to designate any Sinclair Designee under Section 2(a). 

(d)    For the avoidance of doubt, except for the voting restrictions applicable to Company proposals and specifically set
forth above (excluding Section 7(a)(ii) that relates to stockholder proposals rather than Company proposals), the Sinclair Parties shall not be restricted, and shall be entitled to vote in their sole and absolute discretion, with respect to any
proposal submitted by the Company to holders of voting securities of the Company, including matters related to amendments to the Company’s certificate of incorporation or bylaws; equity issuances requiring stockholder approval under applicable
securities exchange listing requirements; mergers involving the Company; or a sale of all or substantially all of the Company’s assets. 

Section 8.    Representations and Warranties. 

(a)    The Company hereby represents and warrants to the other parties hereto as follows: 

(i)    The Company is a corporation duly incorporated, validly existing and in good standing under the Laws
of the State of Delaware and has the corporate power and authority to own, lease and operate its properties and assets and to carry on its business as now being conducted. 

(ii)    The Company has the power and authority to execute and deliver this Agreement and to perform its
obligations hereunder. This Agreement has been duly authorized, executed and delivered by the Company and, when duly executed by the other parties hereto and delivered by such parties, shall constitute the legal, valid and binding obligations of the
Company, enforceable against the Company, in accordance with its terms, subject to Equitable Exceptions. 

(iii)    The execution, delivery and performance of this Agreement by the Company will not
(a) conflict with or result in any breach of any provision of the Organizational Documents of the Company, (b) require any filing with, or the obtaining of any permit, authorization, consent or approval of, any Governmental Authority
(other than any filings required to be made with the Commission), (c) violate, conflict with or result in a default (or any event which, with notice or lapse of time or both, would constitute a default) under, or give rise to any right of

  
 31 

 
termination, cancellation or acceleration under, any of the terms, conditions or provisions of any note, mortgage, other evidence of indebtedness, guarantee, license, agreement, lease or other
contract, instrument or obligation to which the Company or any of its assets may be bound, (d) violate any Law applicable to the Company or (e) result in the creation or imposition of any Lien upon or with respect to any of the assets
owned, leased or licensed by the Company, excluding from the foregoing clauses (b), (c), (d) and (e) such requirements, violations, conflicts, defaults or rights which would not, or would not be reasonably likely to, have a material and adverse
effect on the Company. 
 (b)    Each Sinclair Party hereby represents and warrants to the Company as follows: 

(i)    Such party, if a corporation, limited liability company or other legal entity, is duly organized or
formed, validly existing and in good standing under the Laws of its jurisdiction of incorporation or formation and has the corporate, limited liability company or other legal power and authority to own, lease and operate its properties and assets
and to carry on its business as now being conducted. 
 (ii)    Such party has the power and authority to
execute and deliver this Agreement and to perform its obligations hereunder. This Agreement has been duly authorized, executed and delivered by such party and, when duly executed by the other parties hereto and delivered by such parties, shall
constitute the legal, valid and binding obligations of such party, enforceable against such party, in accordance with its terms, subject to Equitable Exceptions. 

(iii)    The execution, delivery and performance of this Agreement by such party will not (a) conflict
with or result in any breach of any provision of the Organizational Documents of such party, (b) require any filing with, or the obtaining of any permit, authorization, consent or approval of, any Governmental Authority (other than any filings
required to be made with the Commission), (c) violate, conflict with or result in a default (or any event which, with notice or lapse of time or both, would constitute a default) under, or give rise to any right of termination, cancellation or
acceleration under, any of the terms, conditions or provisions of any note, mortgage, other evidence of indebtedness, guarantee, license, agreement, lease or other contract, instrument or obligation to which such party or any of its assets may be
bound, (d) violate any Law applicable to such party or (e), result in the creation or imposition of any Lien upon or with respect to any of the assets owned, leased or licensed by such party, excluding from the foregoing clauses (b), (c), (d)
and (e) such requirements, violations, conflicts, defaults or rights which would not, or would not be reasonably likely to, have a material and adverse effect on such party. 

(iv)    Such party, when taken together with the other Sinclair Parties and their Affiliates, has the
ability to cause Sinclair HoldCo to take, or refrain from taking, the applicable actions as set forth herein. 

  
 32 

 Section 9.    Miscellaneous. 

(a)    Term. This Agreement shall be effective upon the Closing and shall continue in effect until 11:59 p.m.,
Central time, on the date that the Sinclair Parties cease to Beneficially Own any Registrable Securities, except for those Sections of this Agreement that expire earlier in accordance with their respective terms; provided however, that
notwithstanding any such termination, the terms of Sections 5(k) and 5(l) and this Section 9 (other than Section 9(q)) shall continue in full force and effect thereafter for a period
of seven (7) years. 
 (b)    Confidentiality. 

(i)    Each Sinclair Party agrees, and will require each of its Representatives including each Sinclair
Designee, to agree, to hold in confidence and not use or disclose to any third party any non-public information provided by the Company or its Representatives to such Person in connection with its direct or
indirect investment in the Company or the exercise of such Person’s rights under this Agreement (the “Confidential Information”); provided, however, “Confidential Information” does not include
information or data that: (i) is or was independently developed by such Person or its Representatives without breaching this Agreement; (ii) was or is publicly available prior to the Closing Date or is or subsequently becomes publicly
available other than as a result of a disclosure by such Person in breach of this Agreement; (iii) is or becomes available to such Person or its Representatives from a source other than the Company, provided that the source of such
information was not known by such Person to be bound by a confidentiality agreement with, or other contractual, legal or fiduciary obligation of confidentiality to, the Company or any other party with respect to such information; or (iv) was
already in the possession of such Person or its Representatives at the time disclosed by the Company to such Person, provided that the source of such information was not known by such Person to be bound by a confidentiality agreement with, or
other contractual, legal or fiduciary obligation of confidentiality to, the Company or any other party with respect to such information. 

(ii)    Notwithstanding the foregoing, in the event that any Sinclair Party or any of their respective
Representatives are required by Law or legal or judicial process (including by deposition, interrogatory, request for documents, subpoena, civil investigative demand or similar process) to disclose any of the Confidential Information, each such
party may disclose such Confidential Information, and only the portion of such Confidential Information, that, based on the advice of such party’s counsel, is required by Law to be disclosed, but only after providing the Company, to the extent
practicable and not prohibited by Law, with prompt prior written notice to the Company so that the Company at the Company’s expense may seek to limit or eliminate such disclosure, including through the procurement of a protective order or other
judicial remedy. Prior to disclosure of any Confidential Information in accordance with the preceding sentence, such party shall, at the Company’s request and sole expense, use commercially reasonable efforts to provide such cooperation to the
Company as the Company shall reasonably request in order to limit or eliminate disclosure of any Confidential Information and shall, 

  
 33 

 
at the Company’s request and sole expense, use commercially reasonable efforts to obtain assurances from the Persons to whom such Confidential Information is disclosed that such Persons will
afford such information confidential treatment. 
 (iii)    Nothing in this Agreement, including
Section 9(b)(i), shall limit or restrict any Sinclair Designee in acting in his or her capacity as a director of the Company and exercising his or her fiduciary duties and responsibilities. 

(iv)    The parties to this Agreement recognize that, in connection with their participation in any public
offering of Registrable Securities, such parties and their authorized representatives have obligations and defenses under federal and state securities Laws, including with respect to complete and correct disclosure and obligations imposed by Law and
by applicable standards of professional conduct. Accordingly, no party shall take any action, omit to take an action, or withhold a consent under this Section 9(b) that would prevent, limit or impair the ability of any
other party to comply in full with such obligations or to demonstrate efforts undertaken for such defenses in connection with any claim, action or proceeding. Nothing in this Agreement, including this Section 9(b), shall be
construed to require any party to commit or be subject to a violation of Law or to impede such party’s right or ability to report violations of Law, subject to the procedures in Section 9(b)(ii) if applicable. 

(c)    Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall
be in writing and shall be deemed to have been given (i) when personally delivered, (ii) the day after being sent by nationally recognized overnight courier, (iii) on the date sent by email if sent during normal business hours of the
recipient, and on the next Business Day if sent after normal business hours of the recipient; or (iv) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must
be sent to the respective parties at the following addresses or emails (or at such other address for a party as shall be specified in a notice given in accordance with this Section 9(c)): 

(i)    if to the Company or Sinclair HoldCo, at the address set forth in Section 10.1 of the BCA; and

 (ii)    if to any other Stockholder or Holder, to the address or email of such Stockholder or Holder
as is on file with the Company or as may be designated in writing by such Stockholder or Holder. 
 (d)    Entire
Agreement. This Agreement, the BCA, and the other documents delivered at the Closing pursuant hereto or thereto (including the Exhibits and Schedules attached hereto and thereto), contain the entire understanding of the parties in respect of
their subject matter and supersede all prior agreements and understandings (oral or written) between the parties with respect to such subject matter. 

  
 34 

 (e)    Expenses. Except as otherwise expressly provided in
Section 5(k), the parties shall pay their own fees and expenses, including their own counsel fees, incurred in connection with this Agreement. 

(f)    Amendment; Waiver. This Agreement may not be modified, amended, supplemented, canceled or discharged, except
by written instrument executed by the Company and Sinclair HoldCo; provided, however, that this Agreement may not be modified, amended, supplemented, canceled or discharged in a manner that is (i) disproportionately adverse to the
rights of a Stockholder or Holder under this Agreement as compared to the other Stockholders or Holders or (ii) imposes an additional obligation upon any Stockholder or Holder, in either case, without the prior written consent of such
Stockholder or Holder. No failure to exercise, and no delay in exercising, any right, power or privilege under this Agreement shall operate as a waiver, nor shall any single or partial exercise of any right, power or privilege hereunder preclude the
exercise of any other right, power or privilege. 
 (g)    Binding Effect; Assignment. This Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors, legal representatives and permitted assigns. Except as provided in Section 3(b) and this
Section 9(g), this Agreement, the rights or obligations hereunder may not be assigned by any party hereto without the prior written consent of the other parties hereto. Notwithstanding anything in the foregoing to the
contrary and subject to the restrictions in Section 3 and Section 4, the rights of a Holder pursuant to Section 5 with respect to all or any portion of its Registrable
Securities may be assigned without such consent (but only with all related obligations as specified in Section 5) with respect to such Registrable Securities (and any Registrable Securities issued as a dividend or other
distribution with respect to, in exchange for or in replacement of such Registrable Securities) by such Holder to a transferee, including any Permitted Transferee, of such Registrable Securities; provided, that (i) the Company is, within
a reasonable time after such transfer, furnished with written notice of the name and address of such transferee or assignee and the Registrable Securities with respect to which such registration rights are being assigned and (ii) such
transferee or assignee agrees in writing to be bound by and subject to the terms set forth in this Agreement relating to Registrable Securities. 

(h)    Counterparts. This Agreement may be executed in any number of counterparts (including by means of facsimile
and electronically transmitted portable document format (pdf) signature pages), each of which shall be an original but all of which together shall constitute one and the same instrument. 

(i)    Interpretation; Schedules. 

(i)    Unless the context of this Agreement otherwise clearly requires, (i) references to the plural include the
singular, and references to the singular include the plural, (ii) references to one gender include the other gender, (iii) the words “include”, “includes” and “including” do not limit the preceding terms or
words and shall be deemed to be followed by the words “without limitation” or “but not limited to”, (iv) the terms “hereof”, “herein”, “hereunder”, “hereto” and similar terms in this
Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement, (v) the terms “day” and “days” mean and refer to calendar day(s), (vi) the terms “year” and “years”
mean and refer to calendar year(s), and (vii) all references to “$” in this Agreement shall be deemed references to United States dollars. 

  
 35 

 (ii)    Unless otherwise set forth in this Agreement, references in
this Agreement to (i) any document, instrument or agreement (including this Agreement) (A) includes and incorporates all Exhibits, Schedules and other attachments thereto, (B) includes all documents, instruments or agreements issued
or executed in replacement thereof and (C) means such document, instrument or agreement, or replacement or predecessor thereto, as amended, modified or supplemented from time to time in accordance with its terms and in effect at any given time,
and (ii) a particular Law means such Law, as amended, modified, supplemented or succeeded from time to time. All Article, Section, Exhibit and Schedule references herein are to Articles, Sections, Exhibits and Schedules of this
Agreement, unless otherwise specified. 
 (iii)    The headings contained herein, and on the Schedules are for
reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement or the Schedules. 

(iv)    This Agreement shall not be construed as if prepared by one of the parties hereto, but rather according to its
fair meaning as a whole, as if all parties hereto had prepared it. 
 (j)    Governing Law; Interpretation. THIS
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF DELAWARE WITHOUT GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAW PROVISION (WHETHER OF THE STATE OF DELAWARE OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE
APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF DELAWARE. 
 (k)    Forum Selection and Consent
to Jurisdiction; Waiver of Jury Trial. 
 (i)    EACH PARTY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF
(A) COURT OF CHANCERY OF THE STATE OF DELAWARE AND (B) ANY UNITED STATES DISTRICT COURT FOR THE STATE OF DELAWARE (FOR THE PURPOSES OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR THE NEGOTIATION,
EXECUTION, PERFORMANCE OR ENFORCEMENT OF THIS AGREEMENT OR ANY TRANSACTIONS CONTEMPLATED HEREBY AND AGREES THAT ALL CLAIMS IN RESPECT OF THE SUIT, ACTION OR OTHER PROCEEDING MAY BE HEARD AND DETERMINED IN ANY SUCH COURT). EACH PARTY HERETO AGREES TO
COMMENCE ANY SUCH SUIT, ACTION OR OTHER PROCEEDING EITHER IN ANY UNITED STATES DISTRICT COURT FOR THE STATE OF DELAWARE OR IN THE COURT OF CHANCERY FOR THE STATE OF DELAWARE. EACH PARTY HERETO WAIVES ANY DEFENSE OF IMPROPER VENUE OR INCONVENIENT
FORUM TO THE MAINTENANCE OF ANY ACTION OR PROCEEDING SO BROUGHT AND WAIVES ANY BOND, SURETY, OR OTHER SECURITY THAT MIGHT BE REQUIRED OF ANY OTHER PARTY WITH RESPECT THERETO. ANY PARTY HERETO MAY MAKE SERVICE ON ANY OTHER PARTY BY SENDING OR
DELIVERING A COPY OF THE PROCESS TO THE 

  
 36 

 
PARTY TO BE SERVED AT THE ADDRESS AND IN THE MANNER PROVIDED FOR THE GIVING OF NOTICES IN SECTION 9(C), HOWEVER, NOTHING HEREIN SHALL AFFECT THE RIGHT OF ANY PARTY TO SERVE LEGAL PROCESS
IN ANY OTHER MANNER PERMITTED BY LAW OR AT EQUITY. EACH PARTY AGREES THAT A FINAL JUDGMENT IN ANY ACTION OR PROCEEDING SO BROUGHT SHALL BE CONCLUSIVE AND MAY BE ENFORCED BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW OR AT EQUITY.

 (ii)    EACH OF THE PARTIES HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE HEREUNDER IS LIKELY
TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY HEREBY WAIVES ITS RIGHT TO A JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY DISPUTE IN CONNECTION WITH THIS AGREEMENT, ANY RIGHTS OR OBLIGATIONS HEREUNDER
OR THE PERFORMANCE OF SUCH RIGHTS AND OBLIGATIONS. EACH OF THE PARTIES HERETO (I) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY HERETO WOULD NOT, IN
THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS AND (II) UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (III) MAKES THIS WAIVER VOLUNTARILY, AND (IV) ACKNOWLEDGES THAT SUCH OTHER PARTY HAS BEEN INDUCED
TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS CONTAINED HEREIN. 

(l)    Specific Performance. 

(i)    The parties hereto agree that irreparable damage would occur if any provision of this Agreement were not performed
in accordance with the terms hereof, that any breach of this Agreement would not be adequately compensated by monetary damages and that, accordingly, the parties hereto shall be entitled to specific performance of the terms hereof, in addition to
any other remedy to which they are entitled at Law or in equity. Each party hereto hereby agrees not to raise any objections to the availability of the equitable remedy of specific performance when available pursuant to the terms of this Agreement
to prevent or restrain breaches of this Agreement by such party and to specifically enforce the terms and provisions of this Agreement to prevent breaches or threatened breaches of, or to enforce compliance with, the covenants and agreements of such
party under this Agreement in accordance with the terms of this Section 9(l). The parties hereto further agree to waive any requirement for the securing or posting of any bond in connection with the obtaining of any
specific performance or other equitable relief, this being in addition to any other remedy to which they are entitled at Law or in equity. The parties hereto have specifically bargained for the right to specific performance of the obligations
hereunder, in accordance with the terms and conditions of this Section 9(l). 
 (ii)    All
remedies hereunder are cumulative and are not exclusive of any other remedies provided by Law or equity. Each party hereto further agrees that (A) by seeking the remedies provided for in this Section 9(l), a party
shall not in any respect waive its right to seek any other form of relief that may be available to such party under this Agreement or in the event that the remedies provided for in this Section 9(l) are not available or
otherwise are not 

  
 37 

 
granted, and (B) the commencement of any Proceeding pursuant to this Section 9(l) or anything set forth in this Section 9(l) restrict or
limit any party’s right to pursue any other remedies under this Agreement that may be available then or thereafter. 

(iii)    Each party hereto further agrees that the only permitted objection that it may raise in response to any action
for equitable relief is that it contests the existence of a breach or threatened breach of this Agreement. 

(m)    Time. With regard to all dates and time periods set forth or referred to in this Agreement, time is of the
essence. 
 (n)    Third Party Beneficiaries. Except as otherwise specifically set forth herein, no provision of
this Agreement is intended to confer upon any Person other than the parties hereto any rights or remedies, legal or equitable, hereunder, and no other Person other than the parties hereto shall be entitled to rely thereon.  

(o)    Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being
enforced by any rule of Law or public policy (including any applicable rules of the NYSE or the Commission), all other terms, conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or
legal substance of the transactions contemplated by this Agreement is not affected in any manner materially adverse to any party hereto. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the
parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated by this Agreement be
consummated as originally contemplated to the fullest extent possible. 
 (p)    Assurances of Performance. Each
of the Sinclair Parties shall use its commercially reasonable efforts to cause any Person it controls (as distinguished from the ability to influence) to comply with the terms of this Agreement applicable thereto (it being understood that such
Sinclair Party shall be responsible to the Company for any breach of such terms by any such controlled Person). 

(q)     Fully Diluted Basis. Upon the request of Sinclair HoldCo, the Company will provide an updated calculation
of the Company’s outstanding shares of Common Stock on a Fully Diluted Basis as of the most recent practicable date. The Company’s obligation pursuant to this Section 9(q) shall terminate on the date that the
Sinclair Parties cease to Beneficially Own any Registrable Securities. 
 (r)    Independent Nature of Sinclair
Parties’ Obligations and Rights. The obligations of each Sinclair Party under this Agreement are several and not joint with the obligations of any other Sinclair Party, and no Sinclair Party shall be responsible in any way for the
performance of the obligations of any other Sinclair Party under this Agreement. The waiver by the Company of performance under this Agreement by any Sinclair Party does not excuse performance by any other Sinclair Party. Nothing contained herein,
and no action taken by any Sinclair Party pursuant hereto, shall be deemed to constitute the Sinclair Parties as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Sinclair

  
 38 

 
Parties are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Agreement. Each Sinclair Party shall be entitled to independently
protect and enforce its rights, including without limitation, its rights arising out of this Agreement, and it shall not be necessary for any other Sinclair Party to be joined as an additional party in any proceeding for such purpose. 

[Signature Page Follows] 

  
 39 

 IN WITNESS WHEREOF, the duly authorized representative of the undersigned has caused
this Stockholders Agreement to be duly executed and delivered as of the day and year first above written. 
  

			
	HIPPO PARENT CORPORATION
		
	By:	 	 /s/ Michael C. Jennings

		 	Name: Michael C. Jennings
		 	Title:   Chief Executive Officer and President

  
 [SIGNATURE
PAGE TO STOCKHOLDERS AGREEMENT] 

 IN WITNESS WHEREOF, the duly authorized representative of the undersigned has caused
this Stockholders Agreement to be duly executed and delivered as of the day and year first above written. 
  

			
	THE SINCLAIR COMPANIES

  

			
	By:	 	 /s/ Ross B. Matthews

		 	Name: Ross B. Matthews
		 	Title: Chief Operating Officer

  

			
	COH REVOCABLE TRUST

 
			
		
	By:	 	 /s/ Carol Orme Holding

		 	Name: Carol Orme Holding
		 	Title:  Trustee

 
			
	
	ARTICLE VI EXEMPT MARITAL TRUST

 
			
		
	By:	 	 /s/ Carol Orme Holding

		 	Name: Carol Orme Holding
		 	Title:  Trustee

 
			
	
	ARTICLE VIII EXEMPT BYPASS TRUST

 
			
		
	By:	 	 /s/ Carol Orme Holding

		 	Name: Carol Orme Holding
		 	Title:  Trustee

 
			
	
	THE ANNE CAROL HOLDING 101 TRUST

 
			
		
	By:	 	 /s/ Anne Carol Holding

		 	Name: Anne Carol Holding
		 	Title:  Trustee

  
 [SIGNATURE
PAGE TO STOCKHOLDERS AGREEMENT] 

 
			
	THE ANNE CAROL HOLDING TRUST

 
			
		
	By:	 	 /s/ Anne Carol Holding

		 	Name: Anne Carol Holding
		 	Title:  Trustee

  

			
	MONTECITO TRUST

 
			
		
	By:	 	 /s/ Kathleen Marie Holding

		 	Name:  Kathleen Marie Holding
		 	Title: Co-Trustee
		
	By:	 	 /s/ Ross Butler Matthews

		 	Name: Ross Butler Matthews
		 	Title:    Co-Trustee

  

			
	NO NAME TRUST 1

 
			
		
	By:	 	 /s/ Kathleen Marie Holding

		 	Name: Kathleen Marie Holding
		 	Title:  Co-Trustee
		
	By:	 	 /s/ Ross Butler Matthews

		 	Name: Ross Butler Matthews
		 	Title:    Co-Trustee

  

			
	LITTLE MONTECITO TRUST

 
			
		
	By:	 	 /s/ Ross Butler Matthews

		 	Name: Ross Butler Matthews
		 	Title:  Co-Trustee
		
	By:	 	 /s/ Meagan Kathleen Matthews

		 	Name: Meagan Kathleen Matthews
		 	Title:  Co-Trustee

  
 [SIGNATURE
PAGE TO STOCKHOLDERS AGREEMENT] 

 
			
	NO NAME TRUST 2

 
			
		
	By:	 	 /s/ Ross Butler Matthews

		 	Name: Ross Butler Matthews
		 	Title:   Co-Trustee
		
	By:	 	 /s/ Daniel Ross Matthews

		 	Name: Daniel Ross Matthews
		 	Title:   Co-Trustee

  

			
	THE HOLDING FAMILY IRREVOCABLE TRUST

 
			
		
	By:	 	 /s/ Christine S. Holding

		 	Name: Christine S. Holding
		 	Title:   Trustee
		
	By:	 	 /s/ Kathleen Marie Holding

		 	Name: Kathleen Marie Holding
		
	By:	 	 /s/ Christian E. Peterson

		 	Name: Christian E. Peterson
		
	By:	 	 /s/ Lara Anne Martinez

		 	Name: Lara Anne Martinez
		
	By:	 	 /s/ Carol Chase Giroux

		 	Name: Carol Chase Giroux
		
	By:	 	 /s/ Jennie Peterson

		 	Name: Jennie Peterson

  
 [SIGNATURE
PAGE TO STOCKHOLDERS AGREEMENT] 

 
			
	By:	 	 /s/ Lauren Christine Holding

		 	Name: Lauren Christine Holding
		
	By:	 	 /s/ Dallin Richards Holding

		 	Name: Dallin Richards Holding
		
	By:	 	 /s/ Catherine Lucille Holding Didier

		 	Name: Catherine Lucille Holding Didier
		
	By:	 	 /s/ Clayton Stephen Holding

		 	Name: Clayton Stephen Holding
		
	By:	 	 /s/ David Earl Holding

		 	Name: David Earl Holding

  
 [SIGNATURE
PAGE TO STOCKHOLDERS AGREEMENT] 

 SCHEDULE I 

 

	1.	 COH Revocable Trust 

  

	2.	 Article VI Exempt Marital Trust 

 

	3.	 Article VIII Exempt Bypass Trust 

 

	4.	 The Anne Carol Holding 101 Trust 

 

	5.	 The Anne Carol Holding Trust 

 

	6.	 Montecito Trust 

  

	7.	 No Name Trust 1 

  

	8.	 Little Montecito Trust 

 

	9.	 No Name Trust 2 

  

	10.	 The Holding Family Irrevocable Trust 

 

	11.	 Kathleen Marie Holding 

 

	12.	 Christian E. Peterson 

 

	13.	 Lara Anne Martinez 

  

	14.	 Carol Chase Giroux 

  

	15.	 Jennie Peterson 

  

	16.	 Lauren Christine Holding 

 

	17.	 Dallin Richards Holding 

 

	18.	 Catherine Lucille Holding Didier 

 

	19.	 Clayton Stephen Holding 

 

	20.	 David Earl Holding 

 EXHIBIT A 

Fully Diluted Basis 
 Hippo
Parent Corporation Diluted Share Count 
 as of July 31, 2021 
  

					
	 Common Outstanding
	  	 	162,490,166	 
	 RSUs
	  	 	1,831,007	 
	 PSUs
	  	 	600,106	 
	 Vested Yet to be Awarded
	  	 	7,697	 
		  	  
	  
	 
	 Total Diluted Share Count
	  	 	164,928,976	 

 EXHIBIT B 

Prohibited Transferees 

Omitted pursuant to Item 601(a)(5) of Regulation S-K. 

 EXHIBIT C 

Director Qualifications 
 Characteristics
expected of all directors include integrity, exceptional talent and judgment, and the ability and willingness to commit adequate time to the Board. In evaluating the suitability of individual board members, the Nominating Committee takes into
account many factors, including the candidate’s independence, the skills enumerated in the Director Skills and Experience Matrix (as further described below), knowledge of the communities in which the Company does business, the Company’s
industry, or other industries relevant to the Company’s business or other organizations of comparable size; and personal qualities, such as background and reputation. 

The experience, skills and qualifications included in the Company’s Director Skills and Experience Matrix as of the date of this Agreement are as
follows: 
  

	 	•	 	 Executive / CEO Leadership 

 

	 	•	 	 Public company board service / governance 

 

	 	•	 	 Financial expertise 

  

	 	•	 	 M&A and capital markets expertise 

 

	 	•	 	 Industry background and operations management 

 

	 	•	 	 Marketing and sales experience 

 

	 	•	 	 International experience 

 

	 	•	 	 Risk management 

  

	 	•	 	 Human Resources and compensation 

 

	 	•	 	 Health, safety and environmental 

 

	 	•	 	 Legal and regulatory 

 EXHIBIT D 

Form of Joinder Agreement 

This JOINDER AGREEMENT (“Joinder”), dated
[                    ], is executed by
[                    ] (the “Transferee”) and by
[                    ] (the “Transferor”) pursuant to the terms of the Stockholders Agreement, dated as of
[                    ], 2021 (the “Stockholders Agreement”), by and among Hippo Parent Corporation, a Delaware corporation
(the “Company”), The Sinclair Companies, a Wyoming corporation (“Sinclair HoldCo”), and each other stockholder set forth on Schedule I thereto, as may be amended from time to time (each, together with
Sinclair HoldCo, a “Stockholder” and collectively, the “Stockholders”). Capitalized terms used but not otherwise defined herein have the meanings set forth in the Stockholders Agreement. 

 

	 	1.	 Acknowledgements. Transferee and Transferor each acknowledge that Transferee is acquiring Subject Shares
(the “Transferred Shares”) from Transferor and that it is a condition precedent to such Transfer that the Transferee execute a Joinder to the Stockholders Agreement. 

 

	 	2.	 Permitted Transferee. Transferor and Transferee each confirm to the Company that Transferee is a
Permitted Transferee. 

  

	 	3.	 Agreement. Transferee acknowledges receipt of a copy of the Stockholders Agreement and agrees that it
shall be fully bound by and subject to the terms of this Joinder and the Stockholders Agreement as a [Stockholder/Holder] thereunder. 

  

	 	4.	 Notice. Any notice required or permitted to be given by the Stockholders Agreement shall be given to
Transferee at the address listed beside Transferee’s signature below. 

  

			
	 TRANSFEROR:
	 	
	
[                  
                      ]

 
			
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	 TRANSFEREE:
	 	
	
[                  
                      ]

 

			
	  

	Name:	 	
	Title:	 	
	
	Address for notices:
	                                    
    

 EXHIBIT E 

Underwriters 
 Omitted
pursuant to Item 601(a)(5) of Regulation S-K. 

 EXHIBIT F 

Form of Representation Letter 

Omitted pursuant to Item 601(a)(5) of Regulation S-K.EX-10.2

 Exhibit 10.2 

August 2, 2021 
 Holly Energy Partners, L.P. 

2828 N. Harwood Street, Suite 1300 
 Dallas, Texas 75201 

Attention: President 
 Email address: president-HEP@hollyenergy.com 
 Re: Project Safari 

Ladies and Gentlemen: 
 Reference is made to (a) the
Business Combination Agreement dated of even date herewith by and among The Sinclair Companies, a corporation organized under the laws of the State of Wyoming (“Sinclair”), HollyFrontier Corporation, a corporation organized under
the laws of the State of Delaware (“HFC”), and the other parties thereto (as the same may be amended, supplemented or otherwise modified, the “HFC Sinclair Agreement”), (b) the Contribution Agreement dated of even
date herewith by and among Sinclair, Holly Energy Partners, L.P., a limited partnership organized under the laws of the State of Delaware (“HEP” and, together with HFC, the “Parties”, and each of HFC and HEP,
individually, a “Party”), and the other parties thereto (as the same may be amended, supplemented or otherwise modified, the “HEP Sinclair Agreement” and, together with the HFC Sinclair Agreement, the
“Sinclair Agreements”), and (c) the Twenty-First Amended and Restated Omnibus Agreement, dated February 8, 2021, by and among HEP, HFC and the other parties thereto (as may be amended from time to time, the
“Omnibus Agreement”). 
 Consummation of the transactions contemplated by each Sinclair Agreement is conditioned upon consummation of the
transactions contemplated by the other Sinclair Agreement. As a material inducement to each Party to enter into its respective Sinclair Agreement, the Parties are entering into this letter agreement (this “Letter Agreement”) to
memorialize certain agreements between HEP and its subsidiaries (the “HEP Group”) and HFC and its subsidiaries (other than members of the HEP Group) (the “HFC Group”). As used in this Letter Agreement, an
“Affiliate” of HEP or HFC means members of the HEP Group or the HFC Group, respectively. 
 The Parties, each intending to be legally
bound, hereby agree to the following: 
 1.    Intercompany Agreements. Contemporaneously with Closing (as
defined in the HEP Sinclair Agreement) (the “HEP Closing”), each Party hereby agrees that it shall, and shall cause each of its applicable Affiliates to, execute and deliver amendments to the intercompany agreements by and among
members of the HEP Group and the HFC Group (each an “Intercompany Agreement”) identified on Exhibit A hereto to include within the scope thereof the assets to be acquired by HEP pursuant to the HEP Sinclair Agreement (such
assets, the “Sinclair Midstream Assets”), in each case, on the terms identified on Exhibit A hereto. 

 2.    Woods Cross. 

(a)    WX Purchase Agreement. If HFC commits to a Woods Cross Refinery Divestiture Action (as
defined in the HFC Sinclair Agreement), each Party hereby agrees that it shall, and shall cause each of its applicable Affiliates to, execute and deliver the purchase agreement in substantially the form attached hereto as Exhibit B-1 (the “WX Purchase Agreement”); provided, however, that HEP’s obligation in respect of this Section 2(a) shall be conditioned upon (a) the prior or
contemporaneous execution of a definitive agreement with respect to the Woods Cross Refinery Divestiture Action and (b) the closing conditions under the HEP Sinclair Agreement and the HFC Sinclair Agreement having been satisfied or waived. HFC
shall cause any Woods Cross Refinery Divestiture Action to be conditioned on, and become effective at or after, the Closing (as defined in the HFC Sinclair Agreement) (the “HFC Closing”). Prior to the execution of the WX Purchase
Agreement, HEP shall identify all assets of HEP Woods Cross, L.L.C. (“HEP WX”) which are unrelated to the Woods Cross Refinery (such assets, the “Non-WX Assets”). The Non-WX Assets shall include, without limitation, HEP’s refined products terminal located in Spokane, WA. HEP shall transfer the Non-WX Assets (and all associated
liabilities) to an Affiliate of HEP prior to the execution of the WX Purchase Agreement. 

(b)    Intercompany Agreement Amendments. Each Party hereby agrees that if the transactions
contemplated by the WX Purchase Agreement are consummated (the “WX Closing”), then contemporaneously with the WX Closing, it shall, and shall cause each of its applicable Affiliates to, execute and deliver amendments to the
Intercompany Agreements identified on Exhibit B-2 hereto to exclude from the scope thereof the assets that are the subject of the WX Purchase Agreement (the “HEP WX Assets”), in each
case, on the terms identified on Exhibit B-2 hereto. 

(c)    Intercompany Agreement Terminations. If the conditions in
Section 2(b) are met and the Parties and their applicable Affiliates enter into the WX Purchase Agreement, then effective as of the Effective Time (as defined in the WX Purchase Agreement), the Second Amended and Restated
Operating Agreement (Woods Cross), dated as of October 29, 2018, HollyFrontier Woods Cross Refining LLC and Holly Energy Partners – Operating, L.P., is hereby terminated and shall be of no further force effect, except to the extent
expressly provided otherwise therein. 
 3.    Omnibus Agreement - Business Opportunities. 

(a)    Permitted Assets. Each Party hereby acknowledges and agrees that although certain assets
acquired by HFC pursuant to the HFC Sinclair Agreement, including the assets identified on Exhibit C-1 hereto, constitute Permitted Assets (as defined in the Omnibus Agreement) (the “Sinclair
Permitted Assets”) HFC shall have no obligation to offer the Sinclair Permitted Assets to HEP pursuant to Article II of the Omnibus Agreement. 

(b)    Restricted Business Exception. Each Party hereby acknowledges and agrees that the
assets identified on Exhibit C-2 hereto, shall not constitute a Restricted Business (as defined in the Omnibus Agreement) and, therefore, shall not be subject to HEP’s rights under Article II of
the Omnibus Agreement. 

  
 2 

 4.    UNEV Class B. Each Party hereby waives,
and shall cause its applicable Affiliates to waive, application of Section 12.3 of the Amended and Restated Limited Liability Company Agreement of HEP UNEV Holdings LLC dated July 12, 2012 (the “UNEV LLCA”) in respect of
any UNEV Pipeline Divestiture Action (as defined in the HEP Sinclair Agreement). For the avoidance of doubt, this Section 4 shall not act as a waiver of the application of Section 12.3 of the UNEV LLCA to any future
UNEV Sale Event (as defined in the UNEV LLCA). 
 5.    Wrong Pockets. 

(a)    Misdirected Funds. If, following the HFC Closing, any member of the HEP Group (including any
entity acquired by the HEP Group in connection with the HEP Sinclair Agreement, such entity a “Sinclair Midstream Entity”) receives or collects any funds relating to (i) the Downstream Business (as defined in the HFC Sinclair
Agreement) or (ii) any asset of any Sinclair Downstream Entity (as defined below), then HEP shall, or shall cause its applicable Affiliates to, promptly remit such funds to HFC. If, following the HFC Closing, any member of the HFC Group
(including any entity acquired by the HFC Group in connection with the HFC Sinclair Agreement but excluding any Sinclair Midstream Entity, such entity a “Sinclair Downstream Entity”) receives or collects any funds relating to
(y) the Midstream Business (as defined in the HFC Sinclair Agreement) or (z) any asset of any Sinclair Midstream Entity, then HFC shall, or shall cause its applicable Affiliates to, promptly remit such funds to HEP. 

(b)    Misdirected Assets. If, following the HFC Closing, either Party determines that an asset
purportedly acquired by HFC pursuant to the HFC Sinclair Agreement (such asset, a “Sinclair Downstream Asset”) is owned by a Sinclair Midstream Entity, then HEP shall, or shall cause its applicable Affiliates to, promptly transfer,
on an “as is, where is” basis, such Sinclair Downstream Asset to HFC or its applicable Affiliates without any consideration therefor. If, following the HFC Closing, either Party determines that a Sinclair Midstream Asset is owned by a
Sinclair Downstream Entity, then HFC shall, or shall cause its applicable Affiliates to, promptly transfer, on an “as is, where is” basis, such Sinclair Midstream Asset to HEP or its applicable Affiliates without any consideration
therefor. 
  

	 	6.    Miscellaneous.	 

(a)    Amendments and Waivers. No amendment or modification of this Letter Agreement shall be valid
unless it is in writing and signed by each of the Parties. No waiver of any provision of this Letter Agreement shall be valid unless it is in writing and signed by the Party against whom the waiver is sought to be enforced. 

(b)    Choice of Law; Disputes. This Letter Agreement shall be subject to and governed by the laws
of the State of Delaware, excluding any conflicts-of-law rule or principle that might refer the construction or interpretation of this Letter Agreement to the laws of

  
 3 

 
another state. Any dispute, claim or controversy arising under this Letter Agreement shall be treated as an Arbitrable Dispute (as defined in the Omnibus Agreement) and resolved in the manner
provided in Article VIII of the Omnibus Agreement. 
 (c)    Entire Agreement. This Letter
Agreement (including the Exhibits attached hereto), the Sinclair Agreements and the Omnibus Agreement comprise the entire agreement between the Parties with respect to the subject matter contained herein and therein and supersedes all prior and
contemporaneous agreements and understandings, oral or written, with respect to such subject matters. 

(d)    Further Assurances. In connection with this Letter Agreement and all transactions
contemplated by this Letter Agreement, each Party agrees to execute and deliver such additional documents and instruments and to perform such additional acts as may be necessary or appropriate to effectuate, carry out and perform all of the terms,
provisions and conditions of this Letter Agreement and all such transactions. 

(e)    Counterparts. This Letter Agreement may be executed in any number of counterparts with the
same effect as if each of the Parties hereto had signed the same document. All counterparts shall be construed together and shall constitute one agreement. This Letter Agreement, to the extent signed and delivered by means of a facsimile machine or
via e-mail in .pdf file format, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original
signed version thereof delivered in person. 
 [Signature Page Follows] 

  
 4 

 IN WITNESS WHEREOF, the undersigned Parties have executed this Letter Agreement as of the
date first written above to be effective as of such date. 
  

			
	HFC:
	
	HollyFrontier Corporation
		
	By:	 	 /s/ Michael C. Jennings

		 	 Name:  Michael C. Jennings

		 	 Title:   Chief Executive Officer and President

  

	
	Acknowledged and Agreed:
	
	HEP:
	
	Holly Energy Partners, L.P.
	By: HEP Logistics Holdings, L.P., its General Partner
	By: Holly Logistic Services, L.L.C., its General Partner

  

			
	By:	 	 /s/ Richard L. Voliva III

		 	 Name:  Richard L. Voliva III

		 	 Title:   President

 [Signature Page to Letter Agreement Regarding – Project Safari] 

  
 5 

 Exhibit A 

Intercompany Agreements in Connection with Project Safari 

HEP Revenue Contract 
 The following Intercompany
Agreement is referred to in this Letter Agreement as the “Revenue Contract”: 
  

	A.	 Seventh Amended and Restated Master Throughput Agreement, dated February 8, 2021, by and among the members
of the HEP Group and HFC Group party thereto (as may be amended from time to time, the “Throughput Agreement”) 

 The
Revenue Contract shall be amended only to the extent necessary to include therein the Sinclair Midstream Assets specified below with terms no less favorable to the HEP Group than as specified below: 

 

	 	1.	 Volume and Rate Terms. 

 

																			
	 Asset
	  	 Service
	  	Minimum
Volume
Commitment
(barrels
per day)	 	  	Incentive
Tariff
Threshold
(barrels
per day)	 	  	Base
Tariff
($
per
bbl) (1)	 	  	Incentive
Tariff
($ per
bbl) (1)	 
	Pathfinder and 10”	  	Crude oil between Casper and Sinclair	  	 	50,000	 	  	 	55,000	 	  	$	0.72	 	  	$	0.36	 
	Pathfinder Pumpover	  	Crude oil	  	 	35,000	 	  	 	N/A	 	  	 	0.15	 	  	 	N/A	 
	Guernsey to Casper	  	Crude oil	  	 	18,000	 	  	 	30,000	 	  	 	0.85	 	  	 	0.43	 
	Guernsey to Sinclair Refinery	  	Crude oil	  	 	6,500	 	  	 	10,000	 	  	 	1.57	 	  	 	0.79	 
	Medicine Bow	  	Refined products	  	 	20,000	 	  	 	20,000	 	  	 	1.53	 	  	 	0.50	 
	Olathe	  	Refined products	  	 	3,750	 	  	 	N/A	 	  	 	0.95	 	  	 	N/A	 
	Montrose	  	Refined products	  	 	3,000	 	  	 	N/A	 	  	 	1.55	 	  	 	N/A	 
	Chase Connection	  	Refined products	  	 	N/A	 	  	 	N/A	 	  	$
  
	125,000
 per year lease
	 
  
	  	 	N/A	 
	Crude Terminal Offloading	  	Crude unloading by truck at Casper Refinery, Sinclair Refinery and Guernsey Terminal	  	 	15,000	 	  	 	N/A	 	  	 	0.25	 	  	 	N/A	 

  
 A-1 

											
	 Asset
	  	 Service
	  	Minimum
Volume
Commitment
(barrels
per day)	  	Incentive
Tariff
Threshold
(barrels
per day)	  	Base
Tariff
($
per
bbl) (1)	  	Incentive
Tariff
($ per
bbl) (1)
	Crude Terminal Storage	  	Crude terminal revenue at Casper and Guernsey terminals	  	75,000	  	75,000	  	0.40	  	0.05
	Casper Refinery Refined Product Truck Rack	  	Refined products	  	9,000	  	Applicable Refined Product Terminal Fees (2)
	Sinclair Refinery Refined Product Rack	  	Refined products	  	7,500	  	Applicable Refined Product Terminal Fees (2)
	Denver Terminal	  	Refined products	  	30,000	  	Applicable Refined Product Terminal Fees (2)
	Boise Terminal	  	Refined products	  	5,000	  	Applicable Refined Product Terminal Fees (2)
	Burley Terminal	  	Refined products	  	2,000	  	Applicable Refined Product Terminal Fees (2)
	Carrollton Terminal	  	Refined products	  	3,750	  	Applicable Refined Product Terminal Fees (2)
	Ft Madison Terminal	  	Refined products	  	3,000	  	Applicable Refined Product Terminal Fees (2)
	Kansas City Terminal	  	Refined products	  	7,000	  	Applicable Refined Product Terminal Fees (2)

  

	(1)	 Base Tariff and Incentive Tariff. If a base tariff or incentive tariff cannot be achieved as set forth
above as a result of federal or state regulatory limitations on ratemaking, HFC and HEP shall implement alternative tariff structures and/or minimum throughput commitments that produce the same overall commercial result. 

	(2)	 Refined Product Terminal Fees. HEP or its applicable Affiliate will charge the following fees for
services at the Refined Product Terminals, as applicable. 

  
 A-2 

			
	 Service
	  	Throughput Fee ($/bbl)
	Rack Delivery of Gasolines and Diesel	  	$0.4000
	Rack Delivery of Jet Fuel	  	$0.5000
	Handling Fees for Products Provided by Shipper (Ethanol, Biodiesel, Isobutane, etc.)	  	$1.50
	Gasoline and Diesel Additives (lubricity, red dye, generic and proprietary gasoline additives, etc.)	  	$0.18 + Cost of Additive
per additized barrel
	“Top Tier” Gasoline and Diesel Additives	  	$0.35 + Cost of Additive
per additized barrel
	Red Dye	  	$0.17

  

	 	2.	 Deficiency Assessment Period: Deficiency assessment period shall be quarterly. Any deficiency owed to
HEP or its applicable Affiliate due to HFC’s or its applicable Affiliate’s failure to meet any applicable minimum throughput commitment for a given quarter will be paid upon the later of: (a) ten (10) days after HFC’s or its
applicable Affiliate’s receipt of a deficiency notice from HEP or its applicable Affiliate and (b) thirty (30) days following the end of the related contract quarter. 

 

	 	3.	 Fee Adjustments: 

 

	 	(a)	 Adjustment  

 

	 	(i)	 The terminalling fees for the Sinclair Midstream Assets that are terminals will be adjusted each year,
commencing July 1, 2023, by PPI-FG; provided, there will be no downward adjustment of the fees if the change in PPI-FG is negative. 

 

	 	(ii)	 The tariffs for the Sinclair Midstream Assets that are pipelines will be adjusted each year, commencing
July 1, 2023, by the FERC Oil Index; provided, there will be no downward adjustment of the tariffs if the change in the FERC Oil Index is negative. 

  

	 	(b)	 Product Gains and Losses 

 

	 	(i)	 With respect to the Sinclair Midstream Assets that are terminals, HEP or its applicable Affiliate is
responsible for all losses, determined quarterly, greater than 0.25% of the product terminalled (on a terminal by terminal basis), which shall be offset by any product gains during the same quarter (on a terminal by terminal basis), including any
unused product gains in the immediately preceding quarter; all gains, after applying offsetting losses, are the property of HFC or its applicable Affiliate. 

  
 A-3 

	 	(ii)	 With respect to the Sinclair Midstream Assets that are pipelines (A) with a published tariff, all product
gains and losses will be addressed as provided in such tariff Pipelines or (B) without a published tariff, (1) HFC or its applicable Affiliate will absorb all volumetric gains and is responsible for all volumetric losses up to a maximum of
0.5% (on a pipeline by pipeline basis), in each case, determined quarterly and (2) HEP or its applicable Affiliate is responsible for all volumetric losses in excess of 0.5% (on a pipeline by pipeline basis), determined quarterly; provided,
that gains and losses pursuant to foregoing clause (B) will be calculated for each calendar quarter and offset against each other (on a pipeline by pipeline basis). 

 

	 	(c)	 Change in Applicable Laws 

 

	 	(i)	 With respect to the Sinclair Midstream Assets that are terminals, if new applicable laws or regulations require
HEP or its applicable Affiliate to make capital expenditures with respect to such terminals, HEP or its applicable Affiliate may impose a monthly surcharge to cover HFC’s or its applicable Affiliate’s pro rata share of such cost of
complying; provided, however, that HEP or its applicable Affiliate may not increase the applicable tariffs until it has made capital expenditures in respect of all such terminals of $5 million in the aggregate in order to comply with such new
applicable laws or regulations. 

  

	 	(ii)	 With respect to the Sinclair Midstream Assets that are pipelines, if new applicable laws or regulations require
HEP or its applicable Affiliate to make capital expenditures with respect to such pipelines, HEP or its applicable Affiliate may file new tariff rates to recover cost of complying (including a reasonable return); provided, however, that HEP or its
applicable Affiliate may not increase the applicable tariffs until it has made capital expenditures in respect of all such pipelines of $5 million in the aggregate in order to comply with such new applicable laws or regulations.

  

	 	(d)	 Clawback: Deficiency payments will be credited against any payments owed by HFC or its applicable
Affiliate in the following four Contract Quarters (as defined in the Throughput Agreement) in excess of the minimum commitment specified in Section 1 of this Exhibit A for such Contract Quarters; provided, however, that HFC
or its applicable Affiliate will not receive credit for any such deficiency payment in any of the following four Contract Quarters until HFC or its applicable Affiliate has met the minimum commitment specified in Section 1
of this Exhibit A in the succeeding Contract Quarter. 

  

	 	4.	 Term: The minimum volume commitments specified in Section 1 of this Exhibit A
shall be for 15 years. 

  

	 	5.	 Refinery Shut-Down or Reconfiguration: Article 4 of the Throughput Agreement shall not apply to the
Refineries (as defined in the HFC Sinclair Agreement) in respect of the minimum commitments specified in Section 1 of this Exhibit A until the fifth anniversary of the HFC Closing. 

  
 A-4 

	 	6.	 Miscellaneous: Any commercial terms applicable to the Sinclair Midstream Assets that are not specified
above shall be consistent with those of comparable assets covered by the Revenue Contract on the date of this Letter Agreement. 

HEP Expense Contracts 
 The following Intercompany
Agreements are referred to in this Letter Agreement as the “Expense Contracts”: 
  

	 	A.	 Fourth Amended and Restated Services and Secondment Agreement, dated February 8, 2021, by and among the
members of the HEP Group and HFC Group party thereto (the “Services and Secondment Agreement”). 

  

	 	B.	 Sixth Amended and Restated Master Lease and Access Agreement, dated February 8, 2021, by and among the
members of the HEP Group and HFC Group party thereto (the “Lease and Access Agreement”). 

  

	 	C.	 Fourth Amended and Restated Master Site Services Agreement, dated February 8, 2021, by and among the
members of the HEP Group and HFC Group party thereto (the “Site Services Agreement”). 

 The Expense Contracts shall be
amended only to the extent necessary to include therein the Sinclair Midstream Assets and to provide the HEP Group with personnel and access to properties and services that are sufficient to allow the HEP Group (i) in the case of Sinclair
Midstream Assets that will be subject to the Revenue Contract, to deliver the services contemplated in the Revenue Contract in the manner and for the full term contemplated therein, and (ii) in the case of Sinclair Midstream Assets that will
not be subject to the Revenue Contract, to own, operate, maintain, manage and market such Sinclair Midstream Assets; provided, that: 

(a) in respect of the: 

(i) Services and Secondment Agreement, the Allocation Methodology (as defined in the Services and Secondment Agreement) shall
be applied in respect of the Sinclair Midstream Assets without material modification to the Allocation Methodology; provided, however, that severance, bonus, change of control and similar payments paid by HFC or its Affiliates to Sinclair employees
whose primary function is servicing the Sinclair Midstream Assets and the business associated therewith shall be allocated to HEP or its applicable Affiliates; 

(ii) Lease and Access Agreement, (A) the Applicable Term (as defined in the Lease and Access Agreement) shall be 50 years
from the HEP Closing and (B) the Rent (as defined in the Lease and Access Agreement) shall be $100; 

  
 A-5 

 (iii) Site Services Agreement, the aggregate initial Annual Service Fee (as
defined in the Site Services Agreement) in respect of the Sinclair Midstream Assets located at or near the Refineries shall be determined based on good faith discussions between the Parties prior to the HEP Closing and shall be substantially
consistent with the Annual Service Fee for substantially similar assets that are subject to the Site Services Agreement; and 

(b) such amendments shall be without any consideration to the members of the HFC Group; provided, however, that such amendments
shall not relieve the members of the HEP Group from amounts due and payable under the Expense Contracts prior to such amendments; and 

(c) any commercial terms applicable to the Sinclair Midstream Assets that are not specified above shall be consistent with
those of comparable assets covered by the Expense Contracts on the date of this Letter Agreement. 
 Omnibus Agreement 

The Omnibus Agreement shall be amended to provide that the Sinclair Midstream Assets: 

(a) shall constitute Assets (as defined in the Omnibus Agreement); provided, however, that the Sinclair Midstream Assets that
are equity investments in joint ventures shall first be subject to whatever restrictions on transfer are present in the documents governing such equity investment; and 

(b) shall be subject to the indemnification provisions contained therein that are applicable to Other Assets (as defined in the
Omnibus Agreement); provided, however, that solely with respect to the refined products terminal located in Kansas City, KS (the “Kansas City Terminal”) and included within the Sinclair Midstream Assets, the indemnification
provisions in the Omnibus Agreement will provide that HEP will be responsible for all pre-closing liabilities in respect of the Kansas City Terminal, including those caused by historical refinery operations at
or near the Kansas City Terminal. 

  
 A-6 

 Exhibit B-1 

Woods Cross Purchase Agreement 
 Attached.

 Exhibit B-1 – Form of Woods Cross Purchase
Agreement 
 PURCHASE AGREEMENT 

by and among 

HOLLYFRONTIER WOODS CROSS REFINING LLC, 

as Buyer, with 

HOLLYFRONTIER CORPORATION, 

as Guarantor, 
 and each
of 
 HOLLY ENERGY HOLDINGS LLC 

and 
 HEP PIPELINE,
L.L.C., 
 as Sellers, with 

HOLLY ENERGY PARTNERS, L.P., 

as Guarantor 
 Effective
as of [●] 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	 ARTICLE I
	 	 DEFINED TERMS
	  	 	1	 
			
	 1.1
	 	 Definitions
	  	 	1	 
	 1.2
	 	 Interpretation
	  	 	2	 
			
	 ARTICLE II
	 	 PURCHASE OF LLC INTEREST
	  	 	2	 
			
	 2.1
	 	 Transfer of Acquired Interests
	  	 	2	 
	 2.2
	 	 Consideration
	  	 	2	 
			
	 ARTICLE III
	 	 CLOSING
	  	 	2	 
			
	 3.1
	 	 Closing
	  	 	2	 
	 3.2
	 	 Deliveries by Sellers
	  	 	2	 
	 3.3
	 	 Deliveries by Buyer
	  	 	3	 
	 3.4
	 	 Closing Costs; Transfer Taxes and Fees
	  	 	3	 
			
	 ARTICLE IV
	 	 REPRESENTATIONS AND WARRANTIES OF SELLERS
	  	 	4	 
			
	 4.1
	 	 Organization
	  	 	4	 
	 4.2
	 	 Authorization
	  	 	4	 
	 4.3
	 	 Company Status
	  	 	4	 
	 4.4
	 	 No Conflicts or Violations; No Consents or Approvals Required
	  	 	5	 
	 4.5
	 	 Title to LLC Interests; Capitalization
	  	 	5	 
	 4.6
	 	 Taxes
	  	 	6	 
	 4.7
	 	 Brokers and Finders
	  	 	6	 
	 4.8
	 	 Title to Assets
	  	 	6	 
	 4.9
	 	 WAIVERS AND DISCLAIMERS
	  	 	6	 
			
	 ARTICLE V
	 	 REPRESENTATIONS AND WARRANTIES OF BUYER
	  	 	7	 
			
	 5.1
	 	 Organization
	  	 	7	 
	 5.2
	 	 Authorization
	  	 	7	 
	 5.3
	 	 No Conflicts or Violations; No Consents or Approvals Required
	  	 	8	 
	 5.4
	 	 Brokers and Finders
	  	 	8	 
			
	 ARTICLE VI
	 	 REPRESENTATIONS AND WARRANTIES OF HFC
	  	 	8	 
			
	 6.1
	 	 Organization
	  	 	8	 
	 6.2
	 	 Authorization
	  	 	8	 
	 6.3
	 	 No Conflicts or Violations; No Consents or Approvals Required
	  	 	8	 
	 6.4
	 	 Brokers and Finders
	  	 	9	 
			
	 ARTICLE VII
	 	 REPRESENTATIONS AND WARRANTIES OF THE PARTNERSHIP
	  	 	9	 
			
	 7.1
	 	 Organization
	  	 	9	 
	 7.2
	 	 Authorization
	  	 	9	 
	 7.3
	 	 No Conflicts or Violations; No Consents or Approvals Required
	  	 	9	 
	 7.4
	 	 Brokers and Finders
	  	 	9	 

  
 -i- 

							
			
	 ARTICLE VIII
	 	COVENANTS	  	 	9	 
			
	 8.1
	 	 Cooperation
	  	 	9	 
	 8.2
	 	 Additional Agreements
	  	 	10	 
			
	 ARTICLE IX
	 	 INDEMNIFICATION
	  	 	10	 
			
	 9.1
	 	 Indemnification of Buyer and Seller
	  	 	10	 
	 9.2
	 	 Defense of Third-Party Claims
	  	 	10	 
	 9.3
	 	 Direct Claims
	  	 	11	 
	 9.4
	 	 Limitations
	  	 	11	 
	 9.5
	 	 Tax Related Adjustments
	  	 	12	 
			
	 ARTICLE X
	 	 MISCELLANEOUS
	  	 	12	 
			
	 10.1
	 	 Expenses
	  	 	12	 
	 10.2
	 	 Notices
	  	 	12	 
	 10.3
	 	 Severability
	  	 	14	 
	 10.4
	 	 Governing Law; Jurisdiction; Waiver of Jury Trial
	  	 	14	 
	 10.5
	 	 Arbitration Provision
	  	 	14	 
	 10.6
	 	 Parties in Interest
	  	 	15	 
	 10.7
	 	 Assignment of Agreement
	  	 	15	 
	 10.8
	 	 Captions
	  	 	15	 
	 10.9
	 	 Counterparts
	  	 	15	 
	 10.10
	 	 Director and Officer Liability
	  	 	15	 
	 10.11
	 	 Integration
	  	 	15	 
	 10.12
	 	 Effect of Agreement
	  	 	16	 
	 10.13
	 	 Amendment; Waiver
	  	 	16	 
	 10.14
	 	 Survival of Representations and Warranties
	  	 	16	 
			
	 ARTICLE XI
	 	 GUARANTEE BY HFC
	  	 	16	 
			
	 11.1
	 	 Payment and Performance Guaranty
	  	 	16	 
	 11.2
	 	 Guaranty Absolute
	  	 	16	 
	 11.3
	 	 Waiver
	  	 	17	 
	 11.4
	 	 Subrogation Waiver
	  	 	17	 
	 11.5
	 	 Reinstatement
	  	 	17	 
	 11.6
	 	 Continuing Guaranty
	  	 	17	 
	 11.7
	 	 No Duty to Pursue Others
	  	 	17	 
			
	 ARTICLE XII
	 	 GUARANTEE BY THE PARTNERSHIP
	  	 	18	 
			
	 12.1
	 	 Payment and Performance Guaranty
	  	 	18	 
	 12.2
	 	 Guaranty Absolute
	  	 	18	 
	 12.3
	 	 Waiver
	  	 	19	 
	 12.4
	 	 Subrogation Waiver
	  	 	19	 
	 12.5
	 	 Reinstatement
	  	 	19	 
	 12.6
	 	 Continuing Guaranty
	  	 	19	 
	 12.7
	 	 No Duty to Pursue Others
	  	 	19	 

  
 -ii- 

 Exhibits and Schedules 

Exhibit A -    Definitions 

Exhibit B -    Interpretation 
  

			
	Schedule 1.1(a)	  	Crude Unit 2 Assets
	Schedule 1.1(b)	  	FCC Unit 2 Assets
	Schedule 1.1(c)	  	Polymerization Unit Assets
	Schedule 1.1(d)	  	HEP Pipeline Assets
	Schedule 1.1(e)	  	Refined Product Pipelines
	Schedule 1.1(f)	  	Truck and Tank Assets
	Schedule 4.3	  	Jurisdictions
	Schedule 4.4	  	Required Consents – Seller
	Schedule 5.3	  	Required Consents – Buyer
	Schedule 6.3	  	Required Consents – HFC
	Schedule 7.3	  	Required Consents – Partnership

  
 -iii- 

 PURCHASE AGREEMENT 

THIS PURCHASE AGREEMENT (this “Agreement”) dated as of [●], to be effective as of the Effective Time (as defined
below), is made and entered into by and among HollyFrontier Woods Cross Refining LLC, a Delaware limited liability company (“Buyer”), HollyFrontier Corporation, a Delaware corporation (“HFC”), Holly
Energy Holdings LLC, a Delaware limited liability company (“HEH”), HEP Pipeline, L.L.C., a Delaware limited liability company (“HEP Pipeline,” and together with HEH, the “Sellers”), and
Holly Energy Partners, L.P., a Delaware limited partnership (the “Partnership”). Sellers and Buyer are sometimes referred to in this Agreement each as a “Party” and collectively as the
“Parties.” HFC joins this Agreement solely for the purpose of ARTICLE VI and ARTICLE XI of this Agreement. The Partnership joins this Agreement solely for the purposes of ARTICLE VII and ARTICLE XII of
this Agreement. 
 WHEREAS, HEH is the sole member of each of (a) Woods Cross Operating LLC, a Delaware limited liability
company, (“WX Operating”) (b) HEP Woods Cross, L.L.C., a Delaware limited liability company (“HEP WX,” and together with WX Operating, the “Acquired Companies”), and
(c) HEP Pipeline; 
 WHEREAS, WX Operating is the owner of the Refining Unit Assets (as defined below), HEP WX is the owner of
the Truck and Tank Assets (as defined below) and HEP Pipeline is the owner of the Pipeline Assets (as defined below); 

WHEREAS, HFC and the Partnership are party to that certain Letter Agreement regarding Project Safari, dated as of August 2, 2021
(as the same may be amended from time to time, the “Letter Agreement”), pursuant to which HFC and the Partnership agreed to cause the Sellers and Buyer to execute, deliver and perform the transactions contemplated by this Agreement
in the event certain conditions set forth in the Letter Agreement are satisfied, including the transfer by the Partnership of all Non-WX Assets (as defined in the Letter Agreement) from HEP WX to an affiliate
of the Partnership prior to the execution of this Agreement; and 
 WHEREAS, such conditions set forth in the Letter Agreement have
been satisfied and, accordingly, Buyer desires to purchase from the applicable Sellers, and the applicable Sellers desire to sell to Buyer, (a) all of the issued and outstanding limited liability company interests of each of the Acquired
Companies (the “LLC Interests”) and (b) the Pipeline Assets (together with the LLC Interests, the “Acquired Interests”), as applicable, in exchange for the consideration set forth herein. 

NOW, THEREFORE, in consideration of the foregoing and the covenants set forth herein and in the Letter Agreement and Omnibus Agreement,
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows: 

ARTICLE I 
 DEFINED TERMS

 1.1    Definitions. Capitalized terms used throughout this Agreement and not otherwise defined herein
shall have the meanings set forth on Exhibit A. 

 1.2    Interpretation. Matters relating to the interpretation of
this Agreement are set forth on Exhibit B. 
 ARTICLE II 

PURCHASE OF LLC INTEREST 

2.1    Transfer of Acquired Interests. Subject to all of the terms and conditions of this Agreement, (a) HEH
hereby sells, transfers and conveys to Buyer, and Buyer hereby purchases and acquires from HEH, the LLC Interests free and clear of all Encumbrances, except for restrictions imposed by applicable securities Laws and except for Permitted
Encumbrances, and (b) HEP Pipeline hereby sells, transfers and conveys to Buyer, and Buyer hereby purchases and acquires from HEP Pipeline, the Pipeline Assets, in each case, free and clear of all Encumbrances, except for Permitted
Encumbrances. 
 2.2    Consideration. 

(a)    The aggregate consideration to be paid by Buyer for the Acquired Interests shall be the sum of (i) Two Hundred
Thirty Two Million Five Hundred Thousand Dollars ($232,500,000.00) and (ii) the AR Adjustment Amount (the “Purchase Price”). 

(b)    The Purchase Price shall be delivered by the Buyer to HEH (or its designee) at the Closing by wire transfer of
immediately available funds. 
 ARTICLE III 

CLOSING 

3.1    Closing. The closing of the transactions contemplated hereby (the “Closing”) shall take
place simultaneously with the execution of this Agreement. The date of the Closing is referred to herein as the “Closing Date” and the Closing is deemed to be effective as of 12:01 a.m., Dallas, Texas time, on [●] (the
“Effective Time”). 
 3.2    Deliveries by Sellers. At the Closing, Sellers shall deliver, or
cause to be delivered, to Buyer the following: 
 (a)    A counterpart to the assignment of limited liability company
interests transferring the LLC Interests to Buyer, in form and substance mutually acceptable to the Parties (the “Assignment”), duly executed by HEH. 

(b)    A counterpart to the assignment, assumption and bill of sale transferring the Pipeline Assets to Buyer, in form and
substance mutually acceptable to the Parties (the “Bill of Sale”), duly executed by HEP Pipeline. 

(c)    A counterpart to a right of way assignment agreement transferring the easements, rights of way and licenses within
the Assets to Buyer, including all information and formatting required to be accepted by the appropriate Governmental Authority, in form and substance mutually acceptable to the Parties (the “ROW Assignment”). 

  
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 (d)    The original minute books, company books and membership registers
for each Acquired Company. 
 (e)    Counterparts to each of the agreements contemplated by Section 2 of the Letter
Agreement, duly executed by HEP or its applicable subsidiaries. 
 (f)    Evidence in form and substance reasonably
satisfactory to Buyer of the release and termination of all Encumbrances (other than Permitted Encumbrances and restrictions imposed by applicable securities Laws) on the Acquired Interests. 

(g)    To the extent applicable, assignment documents, duly executed by the applicable Seller, assigning each of the
Permits held by such Seller which are assignable by such Seller to Buyer in accordance with Applicable Law. 
 (h)    A
certificate, executed by an officer of HEP, in the form prescribed by Treasury regulations under Section 1445 of the Code, stating that HEP (the Person from whom Seller is disregarded as an entity for U.S. federal income tax purposes) is not a
“foreign person” within the meaning of Section 1445 of the Code. 
 3.3    Deliveries by Buyer. At
the Closing (or such later date as may be set forth below), Buyer shall deliver, or cause to be delivered, to HEH the Purchase Price, by wire transfer of immediately available funds, and the following: 

(a)    A counterpart of the Assignment duly executed by Buyer. 

(b)    A counterpart of the Bill of Sale duly executed by Buyer. 

(c)    A counterpart of the ROW Assignment duly executed by Buyer. 

(d)    Counterparts to each of the agreements contemplated by Section 2 of the Letter Agreement, duly executed by HFC
or its applicable subsidiaries. 
 3.4    Closing Costs; Transfer Taxes and Fees. 

(a)    AR Adjustment Amount. Prior to the date hereof, Seller has delivered a statement to Buyer setting forth
Seller’s calculation of all of accounts receivable due to Seller in respect of the Acquired Interests as of the date hereof (the “AR Adjustment Amount”). Buyer has had an opportunity to review and comment on such calculation
and Seller has considered Buyer’s comments in good faith. 
 (b)    Allocation of Costs. Buyer shall pay the
cost of all sales, transfer and use taxes arising out of the transfer of the Acquired Interests. 

(c)    Prorations. On the Closing Date, or as promptly as practicable following the Closing Date, but in no event
later than sixty (60) calendar days thereafter, the real, if any, and personal property taxes, water, gas, electricity and other utilities with respect to the Assets and the real estate interests and rights associated with the Assets, the
premiums on any insurance policies with respect to the Assets and of the Acquired Companies, and the local business or other license 

  
 -3- 

 
fees to the extent assigned and other similar periodic charges payable with respect to the Assets or the Acquired Companies shall be prorated between Buyer, on the one hand, and Seller, on the
other hand, effective as of the Effective Time, with Seller being responsible for amounts related to the period prior to but excluding the Effective Time and Buyer being responsible for amounts related to the period at and after the Effective Time.
If the final property tax rate or final assessed value for the current tax year is not established by the Closing Date, the prorations shall be made on the basis of the rate or assessed value in effect for the preceding tax year and shall be
adjusted when the exact amounts are determined. All such prorations shall be based upon the most recent available assessed value available prior to the Closing Date. 

(d)    Reimbursement. If a Party pays any tax agreed to be borne by the other Party under this Agreement, such
other Party shall promptly reimburse the paying Party for the amounts so paid. If any Party receives any tax refund or credit applicable to a tax paid by another Party hereunder, the receiving Party shall promptly pay such amounts to the Party
entitled thereto. 
 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES OF SELLERS 

Each Seller hereby jointly and severally represents and warrants to Buyer, that as of the Effective Time: 

4.1    Organization. Such Seller is an entity duly organized, validly existing and in good standing under the
Applicable Laws of the State of Delaware. 
 4.2    Authorization. Such Seller has full limited liability company
power and authority to execute, deliver, and perform this Agreement and any Seller Ancillary Documents. The execution, delivery, and performance by such Seller of this Agreement and the Seller Ancillary Documents and the consummation by such Seller
of the transactions contemplated hereby and thereby, have been duly authorized by all necessary limited liability company action of such Seller, as applicable. This Agreement has been duly executed and delivered by Seller and constitutes, and each
Seller Ancillary Document executed or to be executed by such Seller has been, or when executed will be, duly executed and delivered by such Seller and constitutes, or when executed and delivered will constitute, a valid and legally binding
obligation of such Seller, enforceable against it in accordance with their terms, except to the extent that such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other
similar Applicable Laws affecting creditors’ rights and remedies generally and (ii) equitable principles which may limit the availability of certain equitable remedies (such as specific performance) in certain instances. 

4.3    Company Status. 

Each Acquired Company is duly organized, validly existing and in good standing under the laws of the State of Delaware and (i) has all
requisite limited liability company power and authority to own, operate, use or lease its properties and assets and to carry on its business as it is now being conducted, and (ii) is duly qualified to do business and is in good standing in each
of the jurisdictions in which the ownership, operation or leasing of its properties and assets and the conduct of its business requires it to be so qualified, licensed or authorized, except, in the case

  
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of clause (ii), where the failure to have such power and authority or to be so qualified, licensed or authorized would not, individually or in the aggregate, be reasonably likely to cause a
Material Adverse Effect on the applicable Acquired Company. Schedule 4.3 lists all jurisdictions in which each Acquired Company is qualified to do business. 

4.4    No Conflicts or Violations; No Consents or Approvals Required. 

The execution, delivery and performance by such Seller of this Agreement and the other Seller Ancillary Documents does not, and the
consummation of the transactions contemplated hereby and thereby will not, (i) violate, conflict with, or result in any breach of any provision of such Seller’s organizational documents or (ii) subject to obtaining the Consents or
making the registrations, declarations or filings set forth in the next sentence, violate in any material respect any Applicable Law or material Contract binding upon such Seller. Except as set forth on Schedule 4.4, no Consent of any
Governmental Authority or any other person is required for such Seller in connection with such Seller’s execution, delivery or performance of this Agreement or the Seller Ancillary Documents or consummation of the transactions contemplated
hereby or thereby. 
 4.5    Title to LLC Interests; Capitalization. 

(a)    Immediately prior to the Effective Time, HEH is the sole member of each of the Acquired Companies and is record
owner of and has good and valid title to the LLC Interests, free and clear of all Encumbrances, and sole and unrestricted voting power and power of disposition with respect to all of the LLC Interests. Except for any Claims arising under this
Agreement and any other agreement entered into by either Seller in connection with this Agreement, neither Seller nor their respective Affiliates have any Claims of any kind against either Acquired Company, or any of their respective officers,
managers, directors or employees. The LLC Interests have been duly authorized and validly issued in accordance with Applicable Laws and the organizational documents of the applicable Acquired Company, including their respective limited liability
company agreements, and are fully paid (to the extent required by the limited liability company agreement of the applicable Acquired Company) and nonassessable (except to the extent such nonassessability may be affected by Sections 18-607 and 18-804 of DLLCA). 
 (b)    There
are no options or rights to purchase or acquire, or agreements, arrangements, commitments or understandings relating to, the LLC Interests or any of the Assets except pursuant to this Agreement and the Omnibus Agreement. There are no
(i) authorized or outstanding securities of or equity interests in either Acquired Company of any kind other than the LLC Interests, (ii) there are no outstanding options, warrants, subscriptions, puts, calls or other rights, agreements,
arrangements or commitments (preemptive, contingent or otherwise) obligating any Seller or Acquired Company to offer, issue, sell, redeem, repurchase, otherwise acquire or transfer, pledge or encumber any securities of or equity interest in either
Acquired Company; and (iii) there are no outstanding securities or obligations of any kind of any of the Acquired Companies that are convertible into or exercisable or exchangeable for any equity interest in either Acquired Company. 

(c)    At the Effective Time, Buyer will have the entire record and beneficial ownership of the LLC Interests, free and
clear of all Encumbrances, HEH will cease to be a member of either Acquired Company, and Buyer will be admitted as the sole member of each Acquired Company. 

  
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 4.6    Taxes. Each Acquired Company has filed, on or before the
applicable due date (including any extensions thereof), all material tax returns that it was required to file, and all such tax returns were accurate, correct, and complete in all material respects. All taxes due and owing by each Acquired Company
have been paid in full or are being properly contested. Each Acquired Company is, and at all times since its formation has been, disregarded as an entity separate from HEH for U.S. federal income tax purposes, and no election has been filed on or
before the Closing Date that would change such classification on or after the Closing Date. 
 4.7    Brokers and
Finders. No investment banker, broker, finder, financial advisor or other intermediary has been retained by or is authorized to act on behalf of either Seller who is entitled to receive from Buyer any fee or commission in connection with the
transactions contemplated by this Agreement. 
 4.8    Title to Assets. Each Acquired Company and HEP Pipeline
owns, leases or has the legal right to use all the properties and assets used by the applicable Acquired Company in the operation of its business or the Pipeline Assets, respectively, in each case subject to no Encumbrances, except Permitted
Encumbrances. All of (a) WX Operating’s assets consist of the Refining Unit Assets and (b) HEP WX’s assets consist of the Truck and Tank Assets. Except as disclosed in Schedule 4.8, (i) each Acquired Company owns their
respective Assets and (ii) HEP Pipeline owns the Pipeline Assets, in each case, free and clear of all Encumbrances other than Permitted Encumbrances. 

4.9    WAIVERS AND DISCLAIMERS. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS AGREEMENT, EXCEPT FOR
THE EXPRESS REPRESENTATIONS AND WARRANTIES AND OTHER COVENANTS AND AGREEMENTS MADE BY THE PARTIES IN THIS AGREEMENT, THE ANCILLARY DOCUMENTS AND THE OMNIBUS AGREEMENT, THE PARTIES HERETO ACKNOWLEDGE AND AGREE THAT NONE OF THE PARTIES HAS MADE, DOES
NOT MAKE, AND EACH SUCH PARTY SPECIFICALLY NEGATES AND DISCLAIMS, ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS, IMPLIED OR STATUTORY, ORAL OR WRITTEN, PAST OR
PRESENT, REGARDING (I) THE VALUE, NATURE, QUALITY OR CONDITION OF THE ASSETS INCLUDING, WITHOUT LIMITATION, THE WATER, SOIL, GEOLOGY OR ENVIRONMENTAL CONDITION OF THE ASSETS GENERALLY, INCLUDING THE PRESENCE OR LACK OF HAZARDOUS SUBSTANCES OR
OTHER MATTERS IN THE ASSETS AND THE LAND ON WHICH THE ASSETS ARE SITUATED, (II) THE INCOME TO BE DERIVED FROM THE ASSETS, (III) THE SUITABILITY OF THE ASSETS FOR ANY AND ALL ACTIVITIES AND USES THAT MAY BE CONDUCTED THEREON, (IV) THE
COMPLIANCE OF OR BY THE ASSETS OR THEIR OPERATION WITH ANY APPLICABLE LAWS (INCLUDING WITHOUT LIMITATION ANY ZONING, ENVIRONMENTAL PROTECTION, POLLUTION OR LAND USE LAWS, RULES, REGULATIONS, ORDERS OR REQUIREMENTS), OR (V) THE HABITABILITY,
MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE ASSETS. EXCEPT TO THE EXTENT 

  
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PROVIDED IN THIS AGREEMENT, THE ANCILLARY DOCUMENTS OR THE OMNIBUS AGREEMENT, NONE OF THE PARTIES IS LIABLE OR BOUND IN ANY MANNER BY ANY VERBAL OR WRITTEN STATEMENTS, REPRESENTATIONS OR
INFORMATION PERTAINING TO THE LLC INTERESTS, THE ACQUIRED COMPANIES OR ANY OF THE ASSETS THAT IS FURNISHED BY ANY AGENT, EMPLOYEE, SERVANT OR THIRD PARTY. EXCEPT TO THE EXTENT PROVIDED IN THIS AGREEMENT, THE ANCILLARY DOCUMENTS OR THE OMNIBUS
AGREEMENT, EACH OF THE PARTIES HERETO ACKNOWLEDGES THAT TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE TRANSFER AND CONVEYANCE OF THE ACQUIRED COMPANIES, THEIR RESPECTIVE ASSETS AND THE PIPELINE ASSETS SHALL BE MADE IN AN “AS IS,” “WHERE
IS” CONDITION WITH ALL FAULTS, AND THE ACQUIRED COMPANIES, THEIR RESPECTIVE ASSETS AND THE PIPELINE ASSETS ARE TRANSFERRED AND CONVEYED SUBJECT TO ALL OF THE MATTERS CONTAINED IN THIS SECTION. THIS SECTION SHALL SURVIVE THE TRANSFER AND
CONVEYANCE OF THE LLC INTERESTS AND THE PIPELINE ASSETS OR THE TERMINATION OF THIS AGREEMENT. THE PROVISIONS OF THIS SECTION HAVE BEEN NEGOTIATED BY THE PARTIES AFTER DUE CONSIDERATION AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY
REPRESENTATIONS OR WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, WITH RESPECT TO THE LLC INTERESTS, THE ACQUIRED COMPANIES, THEIR RESPECTIVE ASSETS AND THE PIPELINE ASSETS THAT MAY ARISE PURSUANT TO ANY LAW NOW OR HEREAFTER IN EFFECT, OR
OTHERWISE, EXCEPT AS SET FORTH IN THIS AGREEMENT, THE ANCILLARY DOCUMENTS OR THE OMNIBUS AGREEMENT. 
 ARTICLE V 

REPRESENTATIONS AND WARRANTIES OF BUYER 

Buyer hereby represents and warrants to Seller that as of the Effective Time: 

5.1    Organization. Buyer is an entity duly organized, validly existing and in good standing under the Applicable
Laws of the State of Delaware. 
 5.2    Authorization. Buyer has full limited liability company power and
authority to execute, deliver, and perform this Agreement and any Buyer Ancillary Documents. The execution, delivery, and performance by Buyer of this Agreement and the Buyer Ancillary Documents and the consummation by Buyer of the transactions
contemplated hereby and thereby, have been duly authorized by all necessary partnership action of Buyer. This Agreement has been duly executed and delivered by Buyer and constitutes, and each such Buyer Ancillary Document executed or to be executed
Buyer has been, or when executed will be, duly executed and delivered by Buyer and constitutes, or when executed and delivered will constitute, a valid and legally binding obligation of Buyer, enforceable against it in accordance with their terms,
except to the extent that such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other similar Applicable Laws affecting creditors’ rights and remedies generally
and (ii) equitable principles which may limit the availability of certain equitable remedies (such as specific performance) in certain instances. 

  
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 5.3    No Conflicts or Violations; No Consents or Approvals
Required. The execution, delivery and performance by Buyer of this Agreement and the Buyer Ancillary Documents does not, and consummation of the transactions contemplated hereby and thereby will not, (i) violate, conflict with, or result in
any breach of any provisions of Buyer’s organizational documents or (ii) subject to obtaining the Consents or making the registrations, declarations or filings set forth in the next sentence, violate any Applicable Law or material contract
binding upon Buyer. Except as set forth on Schedule 5.3, no Consent of any Governmental Authority or any other person is required for Buyer in connection with the Buyer’s execution, delivery or performance of this Agreement or the
Buyer Ancillary Documents or the consummation of the transactions contemplated hereby and thereby. 
 5.4    Brokers
and Finders. No investment banker, broker, finder, financial advisor or other intermediary has been retained by or is authorized to act on behalf of Buyer who is entitled to receive from Seller any fee or commission in connection with the
transactions contemplated by this Agreement. 
 ARTICLE VI 

REPRESENTATIONS AND WARRANTIES OF HFC 
 HFC
hereby represents and warrants to Buyer and Seller that as of the date of this Agreement: 
 6.1    Organization.
HFC is an entity duly organized, validly existing and in good standing under the Applicable Laws of the State of Delaware. 

6.2    Authorization. HFC has full corporate power and authority to execute, deliver, and perform its obligations
under ARTICLE VI and ARTICLE XI. The execution, delivery, and performance by HFC of its obligations under this Agreement and the consummation by HFC of the transactions contemplated hereby, have been duly authorized by all
necessary corporate action of HFC. This Agreement has been duly executed and delivered by HFC and constitutes a valid and legally binding obligation of HFC with respect to ARTICLE VI and ARTICLE XI, enforceable against it
in accordance with their terms, except to the extent that such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other similar Applicable Laws affecting creditors’
rights and remedies generally and (ii) equitable principles which may limit the availability of certain equitable remedies (such as specific performance) in certain instances. 

6.3    No Conflicts or Violations; No Consents or Approvals Required. The execution, delivery and performance by
HFC of its obligations under this Agreement does not, and consummation of the transactions contemplated hereby will not, (i) violate, conflict with, or result in any breach of any provisions of HFC’s organizational documents or
(ii) subject to obtaining the Consents or making the registrations, declarations or filings set forth in the next sentence, violate any Applicable Law or material contract binding upon HFC. Except as set forth on Schedule 6.3, no
Consent of any Governmental Authority or any other person is required for HFC in connection with the execution, delivery and performance of its obligations this Agreement or the consummation by HFC of the transactions contemplated hereby. 

  
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 6.4    Brokers and Finders. No investment banker, broker, finder,
financial advisor or other intermediary has been retained by or is authorized to act on behalf of HFC who is entitled to receive from Buyer any fee or commission in connection with the transactions contemplated by this Agreement. 

ARTICLE VII 

REPRESENTATIONS AND WARRANTIES OF THE PARTNERSHIP 

The Partnership hereby represents and warrants to Buyer and Seller that as of the date of this Agreement: 

7.1    Organization. The Partnership is an entity duly organized, validly existing and in good standing under the
Applicable Laws of the State of Delaware. 
 7.2    Authorization. The Partnership has full partnership power and
authority to execute, deliver, and perform its obligations under ARTICLE VII and ARTICLE XII. The execution, delivery, and performance by the Partnership of its obligations under this Agreement and the consummation by the
Partnership of the transactions contemplated hereby, have been duly authorized by all necessary partnership action of the Partnership. This Agreement has been duly executed and delivered by the Partnership and constitutes a valid and legally binding
obligation of the Partnership with respect to ARTICLE VII and ARTICLE XII, enforceable against it in accordance with their terms, except to the extent that such enforceability may be limited by (i) applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance or other similar Applicable Laws affecting creditors’ rights and remedies generally and (ii) equitable principles which may limit the availability of certain equitable remedies
(such as specific performance) in certain instances. 
 7.3    No Conflicts or Violations; No Consents or Approvals
Required. The execution, delivery and performance by the Partnership of its obligations under this Agreement does not, and consummation of the transactions contemplated hereby will not, (i) violate, conflict with, or result in any breach of
any provisions of the Partnership’s organizational documents or (ii) subject to obtaining the Consents or making the registrations, declarations or filings set forth in the next sentence, violate any Applicable Law or material contract
binding upon the Partnership. Except as set forth on Schedule 7.3, no Consent of any Governmental Authority or any other person is required for the Partnership in connection with the execution, delivery and performance of its
obligations this Agreement or the consummation by the Partnership of the transactions contemplated hereby. 

7.4    Brokers and Finders. No investment banker, broker, finder, financial advisor or other intermediary has been
retained by or is authorized to act on behalf of the Partnership who is entitled to receive from Buyer any fee or commission in connection with the transactions contemplated by this Agreement. 

ARTICLE VIII 
 COVENANTS

 8.1    Cooperation. Sellers shall cooperate with Buyer and assist Buyer in identifying all licenses,
authorizations, permissions or Permits necessary for the Acquired Companies’ operations 

  
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from and after the Closing Date and, where permissible, transfer existing Permits to Buyer, or, where not permissible and if needed, assist Buyer in obtaining new Permits at no cost, fee or
liability to Sellers. 
 8.2    Additional Agreements. Subject to the terms and conditions of this Agreement, the
Ancillary Documents and the Omnibus Agreement, each of the Parties shall use its commercially reasonable efforts to do, or cause to be taken all action and to do, or cause to be done, all things necessary, proper, or advisable under Applicable Laws
to consummate and make effective the transactions contemplated by this Agreement. If at any time after the Closing Date any further action is necessary or desirable to carry out the purposes of this Agreement, subject to the terms and conditions of
this Agreement and the Ancillary Documents, the Parties and their duly authorized representatives shall use commercially reasonable efforts to take all such action. 

ARTICLE IX 

INDEMNIFICATION 

9.1    Indemnification of Buyer and Seller. From and after the Closing and subject to the provisions of this
ARTICLE IX, (i) Seller agrees to indemnify and hold harmless the Buyer Indemnified Parties from and against any and all Buyer Indemnified Costs and (ii) Buyer and the Partnership agree to indemnify and hold harmless the Seller
Indemnified Parties from and against any and all Seller Indemnified Costs. 
 9.2    Defense of Third-Party
Claims. An Indemnified Party shall give prompt written notice to Sellers or Buyer, as applicable (the “Indemnifying Party”), of the commencement or assertion of any action, proceeding, demand, or claim by a third party
(collectively, a “third- party action”) in respect of which such Indemnified Party seeks indemnification hereunder. Any failure so to notify the Indemnifying Party shall not relieve the Indemnifying Party from any liability that it,
he, or she may have to such Indemnified Party under this ARTICLE IX unless the failure to give such notice materially and adversely prejudices the Indemnifying Party. The Indemnifying Party shall have the right to assume control of the
defense of, settle, or otherwise dispose of such third-party action on such terms as it deems appropriate; provided, however, that: 

(a)    The Indemnified Party shall be entitled, at its own expense, to participate in the defense of such third-party
action (provided, however, that the Indemnifying Party shall pay the attorneys’ fees of the Indemnified Party if (i) the employment of separate counsel shall have been authorized in writing by the Indemnifying Party in
connection with the defense of such third-party action, (ii) the Indemnifying Party shall not have employed counsel reasonably satisfactory to the Indemnified Party to have charge of such third-party action, (iii) the Indemnified Party
shall have reasonably concluded that there may be defenses available to such Indemnified Party that are different from or additional to those available to the Indemnifying Party, or (iv) the Indemnified Party’s counsel shall have advised
the Indemnified Party in writing, with a copy delivered to the Indemnifying Party, that there is a material conflict of interest that could violate applicable standards of professional conduct to have common counsel); 

(b)    The Indemnifying Party shall obtain the prior written approval of the Indemnified Party before entering into or
making any settlement, compromise, admission, or acknowledgment of the validity of such third-party action or any liability in respect thereof if, 

  
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pursuant to or as a result of such settlement, compromise, admission, or acknowledgment, injunctive or other equitable relief would be imposed against the Indemnified Party or if, in the opinion
of the Indemnified Party, such settlement, compromise, admission, or acknowledgment could have a Material Adverse Effect on its business; 

(c)    The Indemnifying Party shall not consent to the entry of any judgment or enter into any settlement that does not
include as an unconditional term thereof the giving by each claimant or plaintiff to each Indemnified Party of a release from all liability in respect of such third-party action; and 

(d)    The Indemnifying Party shall not be entitled to control (but shall be entitled to participate at its own expense in
the defense of), and the Indemnified Party shall be entitled to have sole control over, the defense or settlement, compromise, admission, or acknowledgment of any third-party action (i) as to which the Indemnifying Party fails to assume the
defense within a reasonable length of time or (ii) to the extent the third-party action seeks an order, injunction, or other equitable relief against the Indemnified Party which, if successful, would materially adversely affect the business,
operations, assets, or financial condition of the Indemnified Party; provided, however, that the Indemnified Party shall make no settlement, compromise, admission, or acknowledgment that would give rise to liability on the part of any Indemnifying
Party without the prior written consent of such Indemnifying Party. 
 The Parties shall extend reasonable cooperation in connection with the defense of any
third-party action pursuant to this ARTICLE IX and, in connection therewith, shall furnish such records, information, and testimony and attend such conferences, discovery proceedings, hearings, trials, and appeals as may be reasonably
requested. 
 9.3    Direct Claims. In any case in which an Indemnified Party seeks indemnification hereunder
which is not subject to Section 9.2 because no third-party action is involved, the Indemnified Party shall notify the Indemnifying Party in writing of any Indemnified Costs which such Indemnified Party claims are subject to
indemnification under the terms hereof. Subject to the limitations set forth in Section 9.4(a), the failure of the Indemnified Party to exercise promptness in such notification shall not amount to a waiver of such claim
unless the resulting delay materially prejudices the position of the Indemnifying Party with respect to such claim. 

9.4    Limitations. The following provisions of this Section 9.4 shall limit the
indemnification obligations hereunder: 
 (a)    Limitation as to Time. The Indemnifying Party shall not be
liable for any Indemnified Costs pursuant to this ARTICLE IX unless a written claim for indemnification in accordance with Section 9.2 or Section 9.3 is given by the
Indemnified Party to the Indemnifying Party with respect thereto at any time prior to the expiration of the applicable statute of limitations. 

(b)    Sole and Exclusive Remedy. Each Party acknowledges and agrees that, after the Closing Date, notwithstanding
any other provision of this Agreement to the contrary, Buyer’s and the other Buyer Indemnified Parties’ and each Seller and the other Seller Indemnified Parties’ sole and exclusive remedy with respect to the Indemnified Costs shall be
in accordance with, and limited by, the provisions set forth in this ARTICLE IX. The Parties further acknowledge and agree that the foregoing is not the remedy for and does not limit the Parties’ remedies for matters covered by the
indemnification provisions contained in the Omnibus Agreement. 

  
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 9.5    Tax Related Adjustments. Each Seller and Buyer agree that
any payment of Indemnified Costs made hereunder will be treated by the Parties on their tax returns as an adjustment to the Purchase Price. 

ARTICLE X 
 MISCELLANEOUS

 10.1    Expenses. Except as provided in Section 3.4 of this Agreement, or
as provided in the Ancillary Documents or the Omnibus Agreement, all costs and expenses incurred by the Parties in connection with the consummation of the transactions contemplated hereby shall be borne solely and entirely by the Party which has
incurred such expense. 
 10.2    Notices. 

(a)    Any notice or other communication given under this Agreement shall be in writing and shall be (i) delivered
personally, (ii) sent by documented overnight delivery service, (iii) sent by email transmission, or (iv) sent by first class mail, postage prepaid (certified or registered mail, return receipt requested). Such notice shall be deemed
to have been duly given (x) if received, on the date of the delivery, with a receipt for delivery, (y) if refused, on the date of the refused delivery, with a receipt for refusal, or (z) with respect to email transmissions, on the
date the recipient confirms receipt. Notices or other communications shall be directed to the following addresses: 
 Notices to HFC:

 HollyFrontier Corporation 

2828 N. Harwood, Suite 1300 

Dallas, Texas 75201 
 Attention:
President 
 Email address: president@hollyfrontier.com 

with a copy, which shall not constitute notice, but is required in order to give proper notice, to: 

HollyFrontier Corporation 
 2828
N. Harwood, Suite 1300 
 Dallas, Texas 75201 

Attention: General Counsel 
 Email
address: generalcounsel@hollyfrontier.com 
 Notices to Buyer: 

HollyFrontier Woods Cross Refining LLC 

2828 N. Harwood, Suite 1300 

Dallas, Texas 75201 
 Attention:
President 
 Email address: president@hollyfrontier.com 

  
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 with a copy, which shall not constitute notice, but is required in order to give proper
notice, to: 
 HollyFrontier Woods Cross Refining LLC 

2828 N. Harwood, Suite 1300 

Dallas, Texas 75201 
 Attention:
General Counsel 
 Email address: generalcounsel@hollyfrontier.com 

Notices to Sellers: 

Holly Energy Partners – Operating, L.P. 

2828 N. Harwood, Suite 1300 

Dallas, Texas 75201 
 Attention:
President 
 Email address: president-hep@hollyenergy.com 

with a copy, which shall not constitute notice, but is required in order to give proper notice, to: 

Holly Energy Partners-Operating, L.P. 

2828 N. Harwood, Suite 1300 

Dallas, Texas 75201 
 Attention:
General Counsel 
 Email address: generalcounsel@hollyenergy.com 

Notices to the Partnership: 

Holly Energy Partners, L.P. 
 c/o
Holly Logistic Services, L.L.C. 
 2828 N. Harwood, Suite 1300 

Dallas, Texas 75201 
 Attention:
President 
 Email address: president-HEP@hollyenergy.com 

with a copy, which shall not constitute notice, but is required in order to give proper notice, to: 

Holly Energy Partners, L.P. 
 c/o
Holly Logistic Services, L.L.C. 
 2828 N. Harwood, Suite 1300 

Dallas, Texas 75201 
 Attention:
General Counsel 
 Email address: general.counsel@hollyenergy.com 

  
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 (b)    Any Party may at any time change its address for service from
time to time by giving notice to the other Parties in accordance with this Section 10.2. 

10.3    Severability. If any term or other provision of this Agreement is invalid, illegal, or incapable of being
enforced under Applicable Law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated herein are not
affected in any manner adverse to any Party. Upon such determination that any term or other provision of this Agreement is invalid, illegal, or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to
effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated herein are consummated as originally contemplated to the fullest extent possible. 

10.4    Governing Law; Jurisdiction; Waiver of Jury Trial. This Agreement shall be subject to and governed by the
laws of the State of Delaware, excluding any conflicts-of-law rule or principle that might refer the construction or interpretation of this Agreement to the laws of
another state. Each Party hereby submits to the jurisdiction of the state and federal courts in the State of Texas and to venue in Dallas, Texas. EACH OF THE PARTIES IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 10.5    Arbitration
Provision. Any and all Arbitrable Disputes must be resolved through the use of binding arbitration using three arbitrators, in accordance with the Commercial Arbitration Rules of the American Arbitration Association, as supplemented to the
extent necessary to determine any procedural appeal questions by the Federal Arbitration Act (Title 9 of the United States Code). If there is any inconsistency between this Section 10.5 and the Commercial Arbitration
Rules or the Federal Arbitration Act, the terms of this Section 10.5 will control the rights and obligations of the Parties. Arbitration must be initiated within the time limits set forth in this Agreement, or if no
such limits apply, then within a reasonable time or the time period allowed by the applicable statute of limitations. Arbitration may be initiated by a Party (“Claimant”) serving written notice on the other Party
(“Respondent”) that the Claimant elects to refer the Arbitrable Dispute to binding arbitration. Claimant’s notice initiating binding arbitration must identify the arbitrator Claimant has appointed. The Respondent shall respond
to Claimant within thirty (30) days after receipt of Claimant’s notice, identifying the arbitrator Respondent has appointed. If the Respondent fails for any reason to name an arbitrator within the
30-day period, Claimant shall petition the American Arbitration Association for appointment of an arbitrator for Respondent’s account. The two arbitrators so chosen shall select a third arbitrator within
thirty (30) days after the second arbitrator has been appointed. The Claimant will pay the compensation and expenses of the arbitrator named by it, and the Respondent will pay the compensation and expenses of the arbitrator named by or for it.
The costs of petitioning for the appointment of an arbitrator, if any, shall be paid by Respondent. The Claimant and Respondent will each pay one-half of the compensation and expenses of the third arbitrator.
All arbitrators must (i) be neutral parties who have never been officers, directors or employees of either Seller, Buyer or any of their respective Affiliates and (ii) have not less than seven (7) years’ experience in the
petroleum transportation industry. The hearing will be conducted in Dallas, Texas and commence within thirty (30) days after the selection of the third arbitrator. Sellers, Buyer and the 

  
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arbitrators shall proceed diligently and in good faith in order that the award may be made as promptly as possible. Except as provided in the Federal Arbitration Act, the decision of the
arbitrators will be binding on and non-appealable by the Parties hereto. The arbitrators shall have no right to grant or award indirect, consequential, punitive or exemplary damages of any kind. The Arbitrable
Disputes may be arbitrated in a common proceeding along with disputes under other agreements between Sellers, Buyer or their respective Affiliates to the extent that the issues raised in such disputes are related. Without the written consent of the
Parties, no unrelated disputes or third party disputes may be joined to an arbitration pursuant to this Agreement. 

10.6    Parties in Interest. This Agreement shall be binding upon and inure solely to the benefit of each Party and
their successors and permitted assigns, and nothing in this Agreement, express or implied, is intended to confer upon any other person any rights or remedies of any nature whatsoever under or by reason of this Agreement. 

10.7    Assignment of Agreement. At any time, the Parties may make a collateral assignment of their rights under
this Agreement to any of their bona fide lenders or debt holders, or a trustee or a representative for any of them, and the non-assigning Parties shall execute an acknowledgment of such collateral assignment
in such form as may from time to time be reasonably requested; provided, however, that unless written notice is given to the non-assigning Parties that any such collateral assignment has been foreclosed
upon, such non-assigning Parties shall be entitled to deal exclusively with Sellers or the Partnership, as the case may be, as to any matters arising under this Agreement, the Ancillary Documents or the
Omnibus Agreement (other than for delivery of notices required by any such collateral assignment). Except as otherwise provided in this Section 10.7, neither this Agreement nor any of the rights, interests, or obligations
hereunder may be assigned by any Party without the prior written consent of the other Parties. 

10.8    Captions. The captions in this Agreement are for purposes of reference only and shall not limit or
otherwise affect the interpretation hereof. 
 10.9    Counterparts. This Agreement may be executed in two or
more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

10.10    Director and Officer Liability. The directors, managers, officers, partners and stockholders of the
Partnership, Buyer, Sellers and their respective Affiliates shall not have any personal liability or obligation arising under this Agreement (including any claims that another party may assert) other than, if applicable, as a direct party to or as
an assignee of this Agreement or pursuant to a written guarantee. 
 10.11    Integration. This Agreement,
the Ancillary Documents, the Letter Agreement and the Omnibus Agreement supersede any previous understandings or agreements among the Parties, whether oral or written, with respect to their subject matter. This Agreement, the Ancillary Documents,
the Letter Agreement and the Omnibus Agreement contain the entire understanding of the Parties with respect to the subject matter hereof and thereof. No understanding, representation, promise or agreement, whether oral or written, is intended to be
or shall be included in or form part of this Agreement, the Ancillary Documents, the Letter Agreement or the Omnibus Agreement unless it is contained in a written amendment hereto or thereto and executed by the

  
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Parties hereto or thereto after the date of this Agreement, the Ancillary Documents, the Letter Agreement or the Omnibus Agreement. To the extent that there is any conflict between the Ancillary
Documents (other than the Omnibus Agreement) and this Agreement, this Agreement shall prevail. 
 10.12    Effect of
Agreement. The Parties ratify and confirm that except as otherwise expressly provided herein, in the event this Agreement conflicts in any way with the Omnibus Agreement or the Letter Agreement, the applicable terms and provisions of the Omnibus
Agreement or the Letter Agreement shall control. 
 10.13    Amendment; Waiver. This Agreement may be amended
only in a writing signed by all parties hereto. Any waiver of rights hereunder must be set forth in writing. A waiver of any breach or failure to enforce any of the terms or conditions of this Agreement shall not in any way affect, limit or waive
any party’s rights at any time to enforce strict compliance thereafter with every term or condition of this Agreement. 

10.14    Survival of Representations and Warranties. The representations and warranties set forth in this Agreement
shall survive the Closing until the expiration of the applicable statute of limitations; provided, however, that any representation that is the subject of a claim for indemnification hereunder which claim was timely made pursuant to
Section 9.4(a) shall survive with respect to such claim until such claim is finally paid or adjudicated. 

ARTICLE XI 
 GUARANTEE BY
HFC 
 11.1    Payment and Performance Guaranty. HFC unconditionally, absolutely, continually and irrevocably
guarantees, as principal and not as surety, to Sellers the punctual and complete performance and payment in full when due of all Seller Indemnified Costs by the Indemnifying Party under the Agreement (collectively, the “HFC Guaranty
Obligations”). HFC agrees that Sellers shall be entitled to enforce directly against HFC any of the HFC Guaranty Obligations. 

11.2    Guaranty Absolute. HFC hereby guarantees that the HFC Guaranty Obligations will be performed and paid
strictly in accordance with the terms of the Agreement. The obligations of HFC under this Agreement constitute a present and continuing guaranty of performance and payment, and not of collection or collectability. The liability of HFC under this
Agreement shall be absolute, unconditional, present, continuing and irrevocable irrespective of: 
 (a)    any
assignment or other transfer of the Agreement or any of the rights thereunder of Sellers; 
 (b)    any amendment,
waiver, renewal, extension or release of or any consent to or departure from or other action or inaction related to the Agreement; 

(c)    any acceptance by Sellers of partial payment or performance from the Indemnifying Party; 

  
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 (d)    any bankruptcy, insolvency, reorganization, arrangement,
composition, adjustment, dissolution, liquidation or other like proceeding relating to the Indemnifying Party, or any action taken with respect to the Agreements by any trustee or receiver, or by any court, in any such proceeding; 

(e)    any absence of any notice to, or Knowledge of, HFC, of the existence or occurrence of any of the matters or events
set forth in the foregoing subsections (a) through (d); or 
 (f)    any other circumstance which might otherwise
constitute a defense available to, or a discharge of, a guarantor. 
 The obligations of HFC hereunder shall not be subject to any
reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by
reason of the invalidity, illegality or unenforceability of the HFC Guaranty Obligations or otherwise. 

11.3    Waiver. HFC hereby waives promptness, diligence, all setoffs, presentments, protests and notice of
acceptance and any other notice relating to any of the HFC Guaranty Obligations and any requirement for Sellers to protect, secure, perfect or insure any security interest or lien or any property subject thereto or exhaust any right or take any
action against the Indemnifying Party, any other entity or any collateral. 
 11.4    Subrogation Waiver. HFC
agrees that it shall not have any rights (direct or indirect) of subrogation, contribution, reimbursement, indemnification or other rights of payment or recovery from the Indemnifying Party for any payments made by HFC under this ARTICLE
XI until all HFC Guaranty Obligations have been indefeasibly paid, and HFC hereby irrevocably waives and releases, absolutely and unconditionally, any such rights of subrogation, contribution, reimbursement, indemnification and other
rights of payment or recovery it may now have or hereafter acquire against the Indemnifying Party until all HFC Guaranty Obligations have been indefeasibly paid. 

11.5    Reinstatement. The obligations of HFC under this ARTICLE XI shall continue to be effective or
shall be reinstated, as the case may be, if at any time any payment of any of the HFC Guaranty Obligations is rescinded or must otherwise be returned to the Indemnifying Party or any other entity, upon the insolvency, bankruptcy, arrangement,
adjustment, composition, liquidation or reorganization of the Indemnifying Party or such other entity, or for any other reason, all as though such payment had not been made. 

11.6    Continuing Guaranty. This ARTICLE XI is a continuing guaranty and shall (i) remain in
full force and effect until the first to occur of the indefeasible performance and payment in full of all of the HFC Guaranty Obligations, (ii) be binding upon HFC, its successors and assigns and (iii) inure to the benefit of and be
enforceable by Sellers and their respective successors, transferees and assigns. 
 11.7    No Duty to Pursue
Others. It shall not be necessary for Sellers (and HFC hereby waives any rights which HFC may have to require Sellers), in order to enforce such payment by HFC, first to (i) institute suit or exhaust its remedies against the Indemnifying
Party or others liable 

  
 -17- 

 
on the HFC Guaranty Obligations or any other person, (ii) enforce Sellers’ rights against any other guarantors of the HFC Guaranty Obligations, (iii) join the Indemnifying Party or
any others liable on the HFC Guaranty Obligations in any action seeking to enforce this ARTICLE XI, (iv) exhaust any remedies available to Sellers against any security which shall ever have been given to secure the HFC Guaranty
Obligations, or (v) resort to any other means of obtaining payment of the HFC Guaranty Obligations. 
 ARTICLE XII 

GUARANTEE BY THE PARTNERSHIP 

12.1    Payment and Performance Guaranty. The Partnership unconditionally, absolutely, continually and irrevocably
guarantees, as principal and not as surety, to Buyer the punctual and complete performance and payment in full when due of all Buyer Indemnified Costs by the Indemnifying Party under the Agreement (collectively, the “HEP Guaranty
Obligations”). The Partnership agrees that Buyer shall be entitled to enforce directly against the Partnership any of the HEP Guaranty Obligations. 

12.2    Guaranty Absolute. The Partnership hereby guarantees that the HEP Guaranty Obligations will be performed
and paid strictly in accordance with the terms of the Agreement. The obligations of the Partnership under this Agreement constitute a present and continuing guaranty of performance and payment, and not of collection or collectability. The liability
of the Partnership under this Agreement shall be absolute, unconditional, present, continuing and irrevocable irrespective of: 

(a)    any assignment or other transfer of the Agreement or any of the rights thereunder of Buyer; 

(b)    any amendment, waiver, renewal, extension or release of or any consent to or departure from or other action or
inaction related to the Agreement; 
 (c)    any acceptance by Buyer of partial payment or performance from the
Indemnifying Party; 
 (d)    any bankruptcy, insolvency, reorganization, arrangement, composition, adjustment,
dissolution, liquidation or other like proceeding relating to the Indemnifying Party, or any action taken with respect to the Agreements by any trustee or receiver, or by any court, in any such proceeding; 

(e)    any absence of any notice to, or Knowledge of, the Partnership, of the existence or occurrence of any of the
matters or events set forth in the foregoing subsections (a) through (d); or 
 (f)    any other circumstance which
might otherwise constitute a defense available to, or a discharge of, a guarantor. 
 The obligations of the Partnership hereunder shall not
be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or setoff, counterclaim, recoupment or
termination whatsoever by reason of the invalidity, illegality or unenforceability of the HEP Guaranty Obligations or otherwise. 

  
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 12.3    Waiver. The Partnership hereby waives promptness,
diligence, all setoffs, presentments, protests and notice of acceptance and any other notice relating to any of the HEP Guaranty Obligations and any requirement for Buyer to protect, secure, perfect or insure any security interest or lien or any
property subject thereto or exhaust any right or take any action against the Indemnifying Party, any other entity or any collateral. 

12.4    Subrogation Waiver. The Partnership agrees that it shall not have any rights (direct or indirect) of
subrogation, contribution, reimbursement, indemnification or other rights of payment or recovery from the Indemnifying Party for any payments made by the Partnership under this ARTICLE XII until all HEP Guaranty Obligations have been
indefeasibly paid, and the Partnership hereby irrevocably waives and releases, absolutely and unconditionally, any such rights of subrogation, contribution, reimbursement, indemnification and other rights of payment or recovery it may now have or
hereafter acquire against the Indemnifying Party until all HEP Guaranty Obligations have been indefeasibly paid. 

12.5    Reinstatement. The obligations of the Partnership under this ARTICLE XII shall continue to be
effective or shall be reinstated, as the case may be, if at any time any payment of any of the HEP Guaranty Obligations is rescinded or must otherwise be returned to the Indemnifying Party or any other entity, upon the insolvency, bankruptcy,
arrangement, adjustment, composition, liquidation or reorganization of the Indemnifying Party or such other entity, or for any other reason, all as though such payment had not been made. 

12.6    Continuing Guaranty. This ARTICLE XII is a continuing guaranty and shall (i) remain in
full force and effect until the first to occur of the indefeasible performance and payment in full of all of the HEP Guaranty Obligations, (ii) be binding upon the Partnership, its successors and assigns and (iii) inure to the benefit of
and be enforceable by Buyer and its successors, transferees and assigns. 
 12.7    No Duty to Pursue Others. It
shall not be necessary for Buyer (and the Partnership hereby waives any rights which the Partnership may have to require Buyer), in order to enforce such payment by the Partnership, first to (i) institute suit or exhaust its remedies against
the Indemnifying Party or others liable on the HEP Guaranty Obligations or any other person, (ii) enforce Buyer’s rights against any other guarantors of the HEP Guaranty Obligations, (iii) join the Indemnifying Party or any others
liable on the HEP Guaranty Obligations in any action seeking to enforce this ARTICLE XII, (iv) exhaust any remedies available to Buyer against any security which shall ever have been given to secure the HEP Guaranty Obligations, or
(v) resort to any other means of obtaining payment of the HEP Guaranty Obligations. 
 [The Remainder of this Page is Intentionally
Left Blank] 

  
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 IN WITNESS WHEREOF, the Parties have executed this Agreement to be effective as of the
Effective Time. 
  

			
	 BUYER:
  

HOLLYFRONTIER WOODS CROSS REFINING LLC

		
	By:	 	  

		 	Tim Go
		 	 Executive Vice President,
 Chief
Operating Officer

  

			
	 SELLERS:
  

HEH
  

HOLLY ENERGY HOLDINGS, LLC

		
	By:	 	  

	Name:	 	Richard L. Voliva III
	Title:	 	President

  

			
	 HEP PIPELINE
  

HEP PIPELINE, L.L.C.

		
	By:	 	  

	Name:	 	Richard L. Voliva III
	Title:	 	President

 [Signature Page to Purchase Agreement] 

 ACKNOWLEDGED AND AGREED FOR 

THE PURPOSES ONLY OF ARTICLE VI and XI: 
  

			
	 HFC:
  

HOLLYFRONTIER CORPORATION

		
	By:	 	  

		 	Michael C. Jennings
		 	Chief Executive Officer and President

 ACKNOWLEDGED AND AGREED FOR 

THE PURPOSES ONLY OF ARTICLE VII and XII: 
  

			
	 PARTNERSHIP:
  

HOLLY ENERGY PARTNERS, L.P.
  

By: HEP Logistics Holdings, L.P., its General Partner
  

By: Holly Logistic Services, L.L.C., its General Partner

		
	By:	 	  

		 	John Harrison
		 	Senior Vice President, Chief Financial Officer and Treasurer

 [Signature Page to Purchase Agreement] 

 EXHIBIT A 

to 
 LLC INTEREST
PURCHASE AGREEMENT 
 Definitions 

“Action” means any claim, action, suit, investigation, inquiry, proceeding, condemnation or audit by or before any court or
other Governmental Authority or any arbitration proceeding. 
 “Acquired Companies” has the meaning set forth in the
Preamble. 
 “Acquired Interests” has the meaning set forth in the Preamble. 

“Affiliate” means, with respect to a specified Person, any other person controlling, controlled by or under common control
with that first Person. As used in this definition, the term “control” includes (i) with respect to any person having voting securities or the equivalent and elected directors, managers or Persons performing similar functions, the
ownership of or power to vote, directly or indirectly, voting securities or the equivalent representing 50% or more of the power to vote in the election of directors, managers or Persons performing similar functions, (ii) ownership of 50% or
more of the equity or equivalent interest in any person and (iii) the ability to direct the business and affairs of any person by acting as a general partner, manager or otherwise. Notwithstanding the foregoing, no HFC Entity will be considered
an Affiliate of an HEP Entity, and no HEP Entity will be considered an Affiliate of a HFC Entity. 
 “Agreement” has the
meaning set forth in the Preamble. 
 “Ancillary Documents” means, collectively, the Buyer Ancillary Documents and the
Seller Ancillary Documents. 
 “Applicable Law” means any applicable statute, law, regulation, ordinance, rule, judgment,
rule of law, order, decree, permit, approval, concession, grant, franchise, license, agreement, requirement, or other governmental restriction or any similar form of decision of, or any provision or condition of any permit, license or other
operating authorization issued under any of the foregoing by, or any determination by any Governmental Authority having or asserting jurisdiction over the matter or matters in question, whether now or hereafter in effect and in each case as amended
(including, without limitation, all of the terms and provisions of the common law of such Governmental Authority), as interpreted and enforced at the time in question. 

“AR Adjustment Amount” has the meaning set forth in Section 3.4(a). 

“Arbitrable Dispute” means any and all disputes, Claims, controversies and other matters in question between Sellers, on the
one hand, and Buyer, on the other hand, arising out of or relating to this Agreement or the alleged breach hereof, or in any way relating to the subject matter of this Agreement regardless of whether (a) allegedly extra-contractual in nature,
(b) sounding in contract, tort or otherwise, (c) provided for by Applicable Law or otherwise or (d) seeking damages or any other relief, whether at law, in equity or otherwise. 

  
 Exhibit A-1 

 “Assets” means the Refining Unit Assets, the Truck and Tank Assets, and the
Pipeline Assets. 
 “Assignment” has the meaning set forth in Section 3.2(a). 

“Business Day” means any day other than Saturday, Sunday or other day upon which commercial banks in Dallas, Texas are
authorized by law to close. 
 “Buyer” has the meaning set forth in the Preamble. 

“Buyer Ancillary Documents” means each agreement, document, instrument or certificate to be delivered by Buyer, or its
Affiliates, at the Closing pursuant to Section 3.3 and each other document or Contract entered into by Buyer, or HFC, or their Affiliates, in connection with this Agreement or the Closing. 

“Buyer Indemnified Costs” means, subject to ARTICLE IX, any and all damages, losses, Claims, assessments, judgments,
liabilities, demands, charges, suits, penalties, costs, and expenses (including court costs and reasonable attorneys’ fees and expenses incurred in investigating and preparing for any litigation or proceeding) that any of the Buyer Indemnified
Parties incurs and that arise out of or relate to any breach of a representation, warranty or covenant of either Seller under this Agreement; provided, however, that Buyer Indemnified Costs shall not include any of the foregoing for which a Seller
would be entitled to indemnity pursuant to Section 3.2 of the Omnibus Agreement. Notwithstanding anything in the foregoing to the contrary, Buyer Indemnified Costs shall exclude any and all indirect, consequential, punitive, or exemplary
damages (other than those that are a result of (A) the third-party action for such indirect, consequential, punitive or exemplary damages, or (B) the gross negligence or willful misconduct of Sellers or, to the extent occurring before the
Closing Date, the Acquired Companies). 
 “Buyer Indemnified Parties” means Buyer and the Partnership and each officer,
director, partner, manager, employee, consultant, stockholder, and Affiliate of Buyer and the Partnership, including, without limitation, the Acquired Companies. 

“Claim” means any existing or threatened future claim, demand, suit, action, investigation, proceeding, governmental action
or cause of action of any kind or character (in each case, whether civil, criminal, investigative or administrative), known or unknown, under any theory, including those based on theories of contract, tort, statutory liability, strict liability,
employer liability, premises liability, products liability, breach of warranty or malpractice. 
 “Claimant” has the
meaning set forth in Section 10.5. 
 “Closing” has the meaning set forth in
Section 3.1. 
 “Closing Date” has the meaning set forth in
Section 3.1. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Company” has the meaning set forth in the Recitals. 

  
 Exhibit A-2 

 “Consents” means all notices to, authorizations, consents, Orders or
approvals of, or registrations, declarations or filings with, or expiration of waiting periods imposed by, any Governmental Authority, and any notices to, consents or approvals of any other third party, in each case that are required by Applicable
Law or by Contract in order to consummate the transactions contemplated by this Agreement and the Ancillary Documents. 

“Contract” means any written or oral contract, agreement, indenture, instrument, note, bond, loan, lease, mortgage,
franchise, license agreement, purchase order, binding bid or offer, binding term sheet or letter of intent or memorandum, commitment, letter of credit or any other legally binding arrangement, including any amendments or modifications thereof and
waivers relating thereto. 
 “Crude Unit 2 Assets” means those assets identified as “Crude Unit 2 Assets” on
Schedule 1.1(a). 
 “DLLCA” means the Delaware Limited Liability Company Act, 6 Del.C. §18-101 et seq., as amended from time to time. 
 “Effective Time” has the
meaning set forth in Section 3.1. 
 “Encumbrance” means any mortgage, pledge, charge,
hypothecation, claim, easement, right of purchase, security interest, deed of trust, conditional sales agreement, encumbrance, option, lien, right of first refusal, right of way, defect in title, encroachments or other restriction, whether or not
imposed by operation of Law, any voting trust or voting agreement, stockholder agreement or proxy. 
 “FCC Unit 2 Assets”
means those assets identified as the “FCC Unit 2 Assets” on Schedule 1.1(b). 
 “Governmental Authority”
means any federal, state, local or foreign government or any provincial, departmental or other political subdivision thereof, or any entity, body or authority exercising executive, legislative, judicial, regulatory, administrative or other
governmental functions or any court, department, commission, board, bureau, agency, instrumentality or administrative body of any of the foregoing. 

“HEH” has the meaning set forth in the Preamble. 

“HEP Entities” means Holly Logistic Services, L.L.C., HEP Logistics Holdings, L.P. and the Partnership and its direct and
indirect subsidiaries. 
 “HEP Guaranty Obligations” has the meanings set forth in Section 12.1.

 “HEP Pipeline” has the meaning set forth in the Preamble. 

“HEP WX” has the meaning set forth in the Preamble. 

“HFC” has the meaning set forth in the Preamble. 

  
 Exhibit A-3 

 “HFC Entities” means HFC and its direct and indirect subsidiaries other
than the HEP Entities. 
 “HFC Guaranty Obligations” has the meanings set forth in Section 11.1.

 “Indemnified Costs” means Buyer Indemnified Costs and Seller Indemnified Costs, as applicable. 

“Indemnified Party” means Buyer Indemnified Parties and Seller Indemnified Parties. 

“Indemnifying Party” has the meaning set forth in Section 9.2. 

“Knowledge” and any variations thereof, or words to the same effect, means (i) with respect to Buyer and HFC, actual
knowledge after reasonable inquiry of Tim Go; and (ii) with respect to Sellers, actual knowledge after reasonable inquiry of Mark Cunningham. 

“Laws” means all statutes, laws, rules, regulations, Orders, ordinances, writs, injunctions, judgments and decrees of all
Governmental Authorities. 
 “Letter Agreement” has the meaning set forth in the Preamble. 

“LLC Interests” has the meaning set forth in the Preamble. 

“Material Adverse Effect” means any adverse change, circumstance, effect or condition in or relating to the assets, financial
condition, results of operations, or business of any person that materially affects the business of such Person or that materially impedes the ability of any person to consummate the transactions contemplated hereby, other than any change,
circumstance, effect or condition in the refining or pipelines industries generally (including any change in the prices of crude oil, natural gas, natural gas liquids, feedstocks or refined products or other hydrocarbon products, industry margins or
any regulatory changes or changes in Law) or in United States or global economic conditions or financial markets in general. Any determination as to whether any change, circumstance, effect or condition has a Material Adverse Effect shall be made
only after taking into account all effective insurance coverages and effective third-party indemnifications with respect to such change, circumstance, effect or condition. 

“Omnibus Agreement” means that certain Twenty-First Amended and Restated Omnibus Agreement entered into as of
February 8, 2021 and effective as of January 1, 2021 by and among HFC, Holly Logistic Services, L.L.C., a Delaware limited liability company, the Partnership, Sellers, HEP Logistics GP, L.L.C., a Delaware limited liability company and HEP
Logistics Holdings, L.P., a Delaware limited partnership, and the other HFC Affiliates and Partnership Affiliates signatory thereto, as may be amended, amended and restated or otherwise modified from time to time. 

“Order” means any order, writ, injunction, decree, compliance or consent order or decree, settlement agreement, schedule and
similar binding legal agreement issued by or entered into with a Governmental Authority. 
 “Partnership” means Holly
Energy Partners, L.P., a Delaware limited partnership. 

  
 Exhibit A-4 

 “Party” and “Parties” have the meanings set forth in the
Preamble. 
 “Permits” means all material permits, licenses, variances, exemptions, Orders, franchises and approvals of all
Governmental Authorities necessary for the lawful ownership and operation of the Acquired Companies’ business, including the Assets. 

“Permitted Encumbrances” means (i) statutory liens for current taxes or assessments not yet due or delinquent or the
validity of which are being contested in good faith by appropriate proceedings; (ii) mechanics’, carriers’, workers’, repairmen’s, landlord’s and other similar liens imposed by law arising or incurred in the ordinary
course of business with respect to charges not yet due and payable; and (iii) such other Encumbrances, if any, which were not incurred in connection with the borrowing of money or the advance of credit and which do not materially detract from
the value of or interfere with the present use, or any use presently anticipated by the Acquired Companies, of the property subject thereto or affected thereby, and including without limitation finance leases. 

“Person” means an individual or a corporation, limited liability company, partnership, joint venture, trust, unincorporated
organization, association, Governmental Authority or other entity. 
 “Pipeline Assets” means the Refined Products
Pipelines and those assets identified as “HEP Pipeline Assets” on Schedule 1.1(d). 
 “Polymerization Unit
Assets” means those assets identified as “Polymerization Unit Assets” on Schedule 1.1(c). 
 “Purchase
Price” has the meaning set forth in Section 2.2(a). 
 “Refined Product Pipelines” means
the pipelines identified on Schedule 1.1(e). 
 “Refining Unit Assets” means the Crude Unit 2 Assets, FCC
Unit 2 Assets and the Polymerization Unit Assets. 
 “Respondent” has the meaning set forth in
Section 10.5. 
 “ROW Assignment” has the meaning set forth in
Section 3.2(c). 
 “Sellers” has the meaning set forth in the Preamble. 

“Seller Ancillary Documents” means each agreement, document, instrument or certificate to be delivered by either Seller, or
their respective Affiliates, at the Closing pursuant to Section 3.2 and each other document or Contract entered into by Sellers, or their respective Affiliates, in connection with this Agreement or the Closing. 

  
 Exhibit A-5 

 “Seller Indemnified Costs” means any and all damages, losses, Claims,
liabilities, demands, charges, suits, penalties, costs, and expenses (including court costs and reasonable attorneys’ fees and expenses incurred in investigating and preparing for any litigation or proceeding) that any of the Seller Indemnified
Parties incurs and that arise out of or relate to any breach of a representation, warranty or covenant of Buyer or HFC under this Agreement. Notwithstanding anything in the foregoing to the contrary, Seller Indemnified Costs shall exclude any and
all indirect, consequential, punitive or exemplary damages (other than those that are a result of (x) a third-party claim for such indirect, consequential, punitive or exemplary damages or (y) the gross negligence or willful misconduct of
Buyer). 
 “Seller Indemnified Parties” means Sellers and each officer, director, partner, manager, employee, consultant,
stockholder, and Affiliates of either Seller, including, without limitation, the Partnership. 
 “Truck and Tank Assets”
means the assets identified as the “Truck Rack” and “Tanks” on Schedule 1.1(f). 
 “third-party
action” has the meaning set forth in Section 9.2. 
 “WX Operating” has the meaning set
forth in the Preamble. 

  
 Exhibit A-6 

 Exhibit B-2 

Intercompany Agreements in Connection with Woods Cross 

HEP Revenue Contracts 
 Each of (i) the Revenue
Contract, (ii) the Third Amended and Restated Crude Pipelines and Tankage Agreement, dated March 12, 2015, as amended April 22, 2019, May 26, 2020 and February 8, 2021, by and among the members of the HEP Group and HFC Group party thereto, and (iii)
the Fourth Amended and Restated Master Systems Operating Agreement, dated February 8, 2021, by and among the members of the HEP Group and HFC Group party thereto, and (iv) the Amended and Restated Master Tolling Agreement (Operating Assets) dated
effective as of October 1, 2016, as amended January 1, 2017 and October 29, 2018, by and among the members of the HEP Group and HFC Group party thereto shall be amended only to the extent necessary to exclude therefrom the HEP WX Assets (including
the economics attributable thereto) without any consideration to the members of the HEP Group other than the consideration contemplated in the WX Purchase Agreement; provided, such amendment shall be deemed a termination of the applicable agreement
solely to the extent it relates to the HEP WX Assets with the effect of termination specified therein. 
 HEP Expense Contracts 

The Expense Contracts shall be amended only to the extent necessary to exclude therefrom the HEP WX Assets (including the economics attributable thereto)
without any consideration to the members of the HFC Group; provided, however, that such amendments shall not relieve the members of the HEP Group from amounts due and payable under the Expense Contracts prior to such amendments; provided, such
amendment shall be deemed a termination of the applicable agreement solely to the extent it relates to the HEP WX Assets with the effect of termination specified therein. 

 Exhibit C-1 

Sinclair Permitted Assets 
  

	 	1.	 Logistics assets that are within the “fence line” of the Sinclair refineries 

 Exhibit C-2 

Non-Restricted Business 

 

	 	1.	 Equity interest in and assets and operations of Sinclair Trucking Company 

 

	 	2.	 Sinclair’s interest in Prairie Field Services LLC

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