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2013 News Releases

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Dec 6, 2013Tesoro Corporation Contributes Second Portion of Los Angeles Logistics Assets to Tesoro Logistics LP
SAN ANTONIO - December 6, 2013 - Tesoro Corporation (NYSE: TSO) and Tesoro Logistics LP (NYSE: TLLP) today announced that Tesoro Corporation ("Tesoro") has contributed the majority of the remaining Los Angeles Logistics Assets (the "Los Angeles Logistics Assets") owned by Tesoro's subsidiary, Tesoro Refining & Marketing Company LLC, to Tesoro Logistics LP ("the Partnership") for total consideration of $650 million.  Consideration for the Los Angeles Logistics Assets... 
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Nov 6, 2013Tesoro Corporation Reports Third Quarter 2013 Results
Net income of $99 million, or $0.72 per diluted share   Net income from continuing operations of $0.46 per diluted share, or $0.44 excluding special items  Closed the sale of the Hawaii refining and marketing business  Repaid $500 million of the $1.2 billion interim borrowing for the Los Angeles acquisition  Declared regular quarterly dividend of $0.25 per share   Increased approved share repurchase program to $1 billion   SAN ANTONIO - November 6, 2013 - Tesoro Corporation (NYSE:TS... 
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Oct 7, 2013Tesoro Corporation to Release Third Quarter Earnings
SAN ANTONIO - October 7, 2013 - Tesoro Corporation (NYSE:TSO) announced today that it plans to release its earnings for the third quarter 2013 after the market closes on Wednesday, November 6, 2013.  The Company will broadcast, live, its conference call with analysts regarding third quarter results and other business matters on Thursday, November 7, 2013, at 7:30 a.m. CST.  Interested parties may listen to the live conference call over the Internet by logging on to www.tsocorp.com. Tesoro Corpo... 
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Sep 25, 2013Tesoro Announces Close on Sale of Hawaii Operations
SAN ANTONIO - September 25, 2013 - Tesoro Corporation (NYSE: TSO) announced today that it has completed the previously announced sale of all of its interests in Tesoro Hawaii, LLC to Hawaii Pacific Energy, LLC for approximately $325 million, which includes net working capital. The transaction includes an earn-out arrangement payable over three years up to $40 million based on consolidated gross margins. Tesoro Hawaii, LLC operates the Kapolei refinery, a network of retail stations and associate... 
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Aug 1, 2013Tesoro Corporation Reports Second Quarter 2013 Results
Net income from continuing operations of $1.72 per diluted share, or $1.56 excluding special items  Closed the acquisition of BP's Southern California Refining, Marketing and Logistics Business  Announced the sale of the Hawaii business  Announced crude oil storage and marine terminal project at the Port of Vancouver, WA  Purchased an additional $100 million in Tesoro shares during the second quarter  Increased regular quarterly dividend by 25% to $0.25 per share  SAN ANTONIO - Augu... 
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Jun 28, 2013Tesoro Corporation To Release Second Quarter Earnings
SAN ANTONIO - June 28, 2013 - Tesoro Corporation (NYSE:TSO) announced today that it plans to release its earnings for the second quarter 2013 after the market closes on Thursday, August 1, 2013.  The Company will broadcast, live, its conference call with analysts regarding second quarter results and other business matters on Friday, August 2, 2013 at 7:30 a.m. CDT.  Interested parties may listen to the live conference call over the Internet by logging on to http://www.tsocorp.com. Tesoro Corpor... 
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Jun 27, 2013Tesoro Introduces Exxon and Mobil Brands to its Multi-Branded Retail Network
SAN ANTONIO - June 27, 2013 - Tesoro Corporation (NYSE:TSO) announced today that it has secured the rights from ExxonMobil to use the Exxon and Mobil brands at retail stations in Northern California, Oregon, Western Washington and Nevada, marketing areas strategically aligned with the Company's West Coast operations.  Tesoro also secured the rights to use the Exxon and Mobil brands throughout Minnesota, Central/Eastern North Dakota and Northeastern South Dakota, marketing areas anchored by the C... 
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Jun 17, 2013Tesoro Corporation Announces the Sale of the Hawaii Operations
SAN ANTONIO - June 17, 2013 - Tesoro Corporation (NYSE: TSO) announced today that it has signed an agreement with a wholly owned subsidiary of Par Petroleum Corporation to sell all of its interest in Tesoro Hawaii, LLC, which operates the 94,000 barrel per day Kapolei refinery, retail stations and associated logistical assets. As part of the agreement, Par Petroleum intends to operate the assets as an integrated refining, logistics and retail system. The sales price of the Hawaii operations is ... 
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Jun 3, 2013Tesoro Corporation Closes the Purchase of BP's Southern California Refining and Marketing Business
SAN ANTONIO - June 3, 2013 - Tesoro Corporation (NYSE:TSO) announced today that the Company has closed the acquisition of BP's fully integrated Southern California Refining and Marketing business, including the 266 thousand barrel per day ("mbpd") high conversion Carson refinery and over 800 dealer operated retail stations. The purchase price for the assets was $1,075 million. Inventory at market value and other working capital totaled another $1,350 million. Additionally, Tesoro and T... 
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May 17, 2013Tesoro Corporation Receives FTC Clearance for Purchase of BP's Southern California Refining and Marketing Business
Creates world-scale integrated refining and marketing business  $1,175 million asset purchase price reduced by $100 million  First acquisition of assets by Tesoro Logistics for $640 million  Adds about $500 million in annual EBITDA  Reconfirming annual synergies of at least $250 million  $0.50 per share accretive to earnings in 2013  SAN ANTONIO - May 17, 2013 - Tesoro Corporation (NYSE:TSO) announced today that the Federal Trade Commission ("FTC") has cleared the Company'... 
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May 1, 2013Tesoro Corporation Reports First Quarter 2013 Results
Net income of $0.67 per diluted share, or $0.73 per diluted share, excluding special items  Announced unit train unloading and marine loading terminal at the Port of Vancouver, WA  Began process to cease refining operations at the Hawaii refinery  Purchased $245 million in Tesoro shares to-date, nearly 50% of authorized buyback program  SAN ANTONIO - May 1, 2013 - Tesoro Corporation (NYSE:TSO) today reported first quarter 2013 net income of $93 million, or $0.67 per diluted share compar... 
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Apr 22, 2013TESORO AND SAVAGE ANNOUNCE JOINT VENTURE TO CONSTRUCT AND OPERATE CRUDE-BY-RAIL UNLOADING AND MARINE LOADING FACILITY AT PORT OF VANCOUVER USA
*Provides substantial economic benefits to the local community *Supports energy independence by facilitating transportation of North American crude to West Coast refineries *Combines capabilities, experience and resources of partners with strong safety and environmental commitments *Advances Port of Vancouver's strategic diversification and development goals Vancouver, Wash. - April 22, 2013 - Tesoro Corporation ("Tesoro") and Savage Companies ("Savage") today announced ... 
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Apr 2, 2013Tesoro Corporation To Release First Quarter Earnings
SAN ANTONIO - April 2, 2013 - Tesoro Corporation (NYSE:TSO) announced today that it plans to release its earnings for the first quarter 2013 after the market closes on Wednesday, May 1, 2013.  The Company will broadcast, live, its conference call with analysts regarding first quarter results and other business matters on Thursday, May 2, 2013 at 7:30 a.m. CDT.  Interested parties may listen to the live conference call over the Internet by logging on to http://www.tsocorp.com. Tesoro Corporation... 
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Feb 6, 2013Tesoro Corporation Reports 2012 Fourth Quarter and Full Year Results
Net income of $0.19 per diluted share, or $1.34 per diluted share, excluding special items  Purchased $140 million in Tesoro shares to-date, nearly 30% of authorized buyback program  Increased the regular quarterly dividend 33% to $0.20 per share  Interim financing for BP Carson acquisition in place  Anacortes rail facility sold to Tesoro Logistics for $180 million  Agreement to acquire Chevron Northwest Products System by Tesoro Logistics   SAN ANTONIO - February 6, 2013 - Tesoro C... 
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Jan 9, 2013Tesoro Corporation To Release Fourth Quarter Earnings
SAN ANTONIO - January 9, 2013 - Tesoro Corporation (NYSE:TSO) announced today that it plans to release its earnings for the fourth quarter 2012 after the market closes on Wednesday, February 6, 2013.  The Company will broadcast, live, its conference call with analysts regarding fourth quarter results and other business matters on Thursday, February 7, 2013 at 7:30 a.m. CST.  Interested parties may listen to the live conference call over the Internet by logging on to http://www.tsocorp.com. Teso... 
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Jan 8, 2013TESORO TO CONVERT HAWAII REFINERY TO AN IMPORT, STORAGE AND DISTRIBUTION TERMINAL
SAN ANTONIO, TX - January 08, 2013 - Tesoro Corporation (NYSE: TSO) today announced that it will cease refining operations at its Kapolei refinery during April of this year, and begin the process of converting the refinery to an import, storage and distribution terminal. Tesoro Hawaii is committed to maintaining its focus on safe and environmentally sound operations during the shutdown and conversion process. Tesoro Hawaii will maintain the existing distribution system to support marketing oper... 
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