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NuStar GP Holdings, LLC Reports Increase In Second Quarter 2012 Distributable Cash Flows

NuStar GP Holdings, LLC (NYSE: NSH) today announced that distributable cash flow available to unitholders for the second quarter of 2012 was $22.1 million, or $0.52 per unit, compared to $21.0 million, or $0.49 per unit, for the second quarter of 2011. In addition, the company announced that its board of directors has declared a second quarter distribution of $0.51 per unit. This distribution represents an increase of $0.015 per unit, or 3.0 percent, over the $0.495 distribution for the second quarter of 2011. The second quarter 2012 distribution will be paid on August 14, 2012, to holders of record as of August 7, 2012.

The company reported a second quarter net loss of $33.2 million, or $0.78 per unit, compared to net income of $22.1 million, or $0.52 per unit, earned in the second quarter of 2011. Negative earnings in NuStar Energy’s asphalt and fuels marketing segment caused by continued weak demand for asphalt, reduced asphalt gross margins, lower margins on the sales of products in the company’s fuels marketing operations and non-cash asset impairment charges primarily related to the expected sale of 50% of the company’s asphalt operations were the main causes for the company’s second quarter earnings loss.

“NuStar GP Holdings, LLC should benefit from NuStar Energy L.P.’s projections for increased EBITDA in the last half of 2012,” said Curt Anastasio, Chief Executive Officer and President of NuStar Energy L.P. and NuStar GP Holdings, LLC. “In addition, expected EBITDA growth at NuStar Energy L.P. as a result of their large internal growth program should have a positive impact on the future growth of NuStar GP Holdings, LLC’s distributable cash flow and distributions.”

A conference call with management is scheduled for 10:00 a.m. ET (9:00 a.m. CT) today, July 27, 2012, to discuss the financial results for the second quarter of 2012. Investors interested in listening to the presentation may call 800/622-7620, passcode 95963671. International callers may access the presentation by dialing 706/645-0327, passcode 95963671. The company intends to have a playback available following the presentation, which may be accessed by calling 800/585-8367, passcode 95963671. A live broadcast of the conference call will also be available on the company’s Web site at www.nustargpholdings.com.

NuStar GP Holdings, LLC is a publicly traded limited liability company that owns the two percent general partner interest, a 14.2 percent limited partner interest and the incentive distribution rights in NuStar Energy L.P., one of the largest asphalt refiners and marketers in the U.S. and the second largest independent liquids terminal operator in the nation, NuStar has operations in the United States, Canada, Mexico, the Netherlands, including St. Eustatius in the Caribbean, the United Kingdom and Turkey. For more information, visit NuStar GP Holdings, LLC’s Web site at www.nustargpholdings.com.

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

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