October 23, 2024
To the beneficial owners, or representatives acting on behalf of beneficial owners, of the 11.00% Senior Notes due 2025 issued by Calumet Specialty Products Partners, L.P., a Delaware limited partnership (the “Partnership”), and Calumet Finance Corp., a Delaware corporation (together with the Partnership, the “Issuers”) (CUSIP: 131477AT8 / U13077AJ8; ISIN: US131477AT87 / USU13077AJ86) (the “Notes”).
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We are considering undertaking certain transactions with respect to the Notes. If you are a beneficial owner, or a representative acting on behalf of a beneficial owner, of the Notes that is a Qualified Holder (as described below), please complete the attached Eligibility Letter and return it to D.F. King & Co., Inc. at the address set forth in the Eligibility Letter. If you are a beneficial owner of the Notes that is not a Qualified Holder, please do not take any action at this time.
A “Qualified Holder” is a beneficial owner that certifies that it is either:
(a) a “Qualified Institutional Buyer,” as that term is defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”); or
(b) a person that is outside of the “United States” and is:
(i) not a “U.S. Person,” as that term is defined in Rule 902 under the Securities Act, and
(ii) a “non-U.S. qualified offeree” but is not a resident of Canada.
The definitions of “Qualified Institutional Buyer,” “United States,” “U.S. Person” and “non-U.S. qualified offeree” are set forth in Annex A to the attached Eligibility Letter.
RESPONSES MUST BE RECEIVED NO LATER THAN 5:00 PM, NEW YORK CITY TIME, ON NOVEMBER 15, 2024.
This letter is neither an offer nor a solicitation of an offer with respect to the Notes and does not create any obligations whatsoever on the part of the Issuers to make any offer or on the part of the recipient to participate if an offer is made.
You may direct any questions about the eligibility process to D.F. King & Co., Inc., at 48 Wall Street, New York, New York 10005, telephone: +1 (212) 269-5550 (banks and brokers), or telephone: +1 (800) 290-6432 (toll free), email address: calumet@dfking.com.
Sincerely,, CALUMET SPECIALTY PRODUCTS PARTNERS, L.P. CALUMET FINANCE CORP.
I am a "Qualified Holder"
I am NOT a "Qualified Holder"
