Global Partners LP Prices Public Offering of Series B Preferred Units

Global Partners LP (NYSE:GLP) (“Global” or the “Partnership”) today announced that it has priced an offering of 3,000,000 of its 9.50% Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units, liquidation preference of $25.00 per unit (the “Series B Preferred Units”), at $25.00 per Series B Preferred Unit in an offering registered under the Securities Act of 1933, as amended. Distributions on the Series B Preferred Units will be payable quarterly and are cumulative from and including the date of original issue at a fixed rate of 9.50% per annum of the stated liquidation preference of $25.00. Global intends to use the net proceeds from this offering to reduce indebtedness under its credit agreement. Global expects to close the sale of Series B Preferred Units on March 24, 2021 subject to the satisfaction of customary closing conditions.

Stifel, Nicolaus & Company, Incorporated and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The Series B Preferred Units are being offered and sold pursuant to an effective registration statement on Form S-3 previously filed with the Securities and Exchange Commission. This offering may be made only by means of a prospectus supplement and accompanying base prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, which will be filed with the Securities and Exchange Commission.

When available, copies of the prospectus supplement and accompanying base prospectus related to this offering can be obtained from:

Stifel, Nicolaus & Company, Incorporated
Attention: Syndicate Department
One South Street, 15^th Floor
Baltimore, Maryland 21202
Email: [e-mail]
Telephone: [phone]

Morgan Stanley & Co. LLC
Attention: Prospectus Department
180 Varick Street, 2^nd Floor
New York, New York 10014
Telephone: [phone]
Email: [e-mail]

You can also obtain these documents for free by visiting the Securities and Exchange Commission website at www.sec.gov.

About Global Partners LP

With approximately 1,550 locations primarily in the Northeast, Global is one of the region’s largest independent owners, suppliers and operators of gasoline stations and convenience stores. Global also owns, controls or has access to one of the largest terminal networks in New England and New York, through which it distributes gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers. In addition, Global engages in the transportation of petroleum products and renewable fuels by rail from the mid-continental U.S. and Canada.