supply agreement will have guaranteed annual payments to SUN, provides that 7-Eleven will continue to use the
Sunoco brand at currently branded Sunoco stores and includes committed growth in future periods.
Approximately 200 convenience stores in North and West Texas, New Mexico and Oklahoma will be sold in a
separate process. SUN's Aloha Petroleum business unit in Hawaii will continue to operate its highly efficient and
integrated business model within SUN. Likewise, the transaction does not include SUN's highly successful APlus
SUN's transaction with 7-Eleven is the first step in SUN's strategic shift away from company-operated convenience
stores to focus on its industry-leading fuel supply business. Led by the iconic Sunoco fuel brand and successful
APlus franchise, SUN plans to be a leading consolidator in the domestic wholesale fuels business, supplying fuel to
a network of more than 8,900 locations of third-party dealers, distributors and other commercial customers, with
an enhanced focus on MLP qualifying income. Additionally, the proceeds received in this transaction will be used to
further enhance SUN's credit profile and leverage profile.
This transaction is subject to regulatory clearances and customary closing conditions and is expected to close by
the fourth quarter 2017.
J.P. Morgan Securities LLC ("JP Morgan") served as SUN's exclusive financial advisor for the transaction. In addition,
SUN has retained JP Morgan to market the approximately 200 remaining convenience stores in North and West
Texas, New Mexico and Oklahoma.
Sunoco LP management will hold a conference call on Thursday, April 6, at 8:00 a.m. CT (9:00 a.m. ET) to discuss the
transaction. To participate, dial 201-389-0877 approximately 10 minutes early and ask for the Sunoco LP
About Sunoco LP
Sunoco LP (NYSE: SUN) is a master limited partnership that operates 1,345 convenience stores and retail fuel sites
and distributes motor fuel to 7,845 convenience stores, independent dealers, commercial customers and
distributors located in 30 states. Our parent -- Energy Transfer Equity, L.P. (NYSE: ETE) -- owns SUN's general partner
and incentive distribution rights.
Cautionary Statement Relevant to Forward-Looking Information