HF Sinclair Names Steve Ledbetter as CEO Effective Jan 2027 and Reports Q3 Results

Executive Leadership Succession & Corporate Updates

1. CEO Transition (Item 5.02)

• Appointment: On October 26, 2026, the Board of Directors of HF Sinclair Corporation appointed Steve Ledbetter, current President and Chief Operating Officer, as Chief Executive Officer and President, effective January 1, 2027.
• Board Representation: The Board intends to increase its size and appoint Mr. Ledbetter as a director at a future date.
• Predecessor Role: Mr. Ledbetter succeeds Franklin Myers, who will continue as CEO through December 31, 2026, before transitioning to Executive Chairperson. In this role, Mr. Myers will provide strategic advice and leadership regarding the planned separation of the Lubricants & Specialties business.
• Compensatory Details: No modifications to Mr. Ledbetter's compensation were approved in connection with the appointment; any future material amendments will be disclosed via an 8-K/A.

2. Q3 2026 Financial Results & Dividend (Item 2.02 / Exhibit 99.1)

• Net Income: Reported Q3 2026 net income attributable to HF Sinclair stockholders of $2,015 million ($11.38 per diluted share), up from $403 million ($2.15 per diluted share) in Q3 2025.
• Adjusted Net Income: $2,079 million ($11.75 per diluted share), compared to $459 million ($2.44 per diluted share) in Q3 2025.
• EBITDA / Adjusted EBITDA: Reported EBITDA of $2,954 million and Adjusted EBITDA of $2,984 million.
• Capital Returns: Returned $572 million to stockholders during Q3 ($93 million in dividends and $479 million in share repurchases).
• Quarterly Dividend: Declared a regular quarterly cash dividend of $0.525 per share, payable on December 2, 2026, to stockholders of record as of November 12, 2026.

3. Strategic Separation Update

• HF Sinclair continues to advance the planned tax-efficient separation of its Lubricants & Specialties business into an independent publicly traded company, targeted for substantial completion during 2027 via a distribution of at least 80.1% of its shares.