Andeavor

On June 1, 2017, Tesoro acquired Western Refining and announced that the company would adopt a new name, Andeavor, effective August 1, 2017. The change in our name has its roots in our decision some years ago to create a special company, one that delivers ever greater value to all our stakeholders by bringing out the best in each other.

Our rapid evolution, growth and improved performance driven by the extraordinary efforts of our employees and the addition of outstanding talent and assets, has transformed our company. Our new name acknowledges the significant progress we have made and signals our aspiration to continue establishing Andeavor as a premier refining, marketing and logistics company. We aim to be better in every way - for our people, our customers, our shareholders, our business partners and our communities.

While we’ve changed our name, it's important to note that some things have not changed, such as our steadfast commitments to safety, environmental responsibility, and to being a good employer and responsible member of the communities where we operate.

Our new company name, Andeavor, is a custom-created word that acknowledges the transformational journey we've been on. It benefits from similarity to the word "endeavor" - making it easy to say and remember, but it has been evolved to reflect the upward direction and aspiration. Andeavor evokes our journey toward making a difference, and is also a promise to keep improving, keep evolving and keep delivering ever-greater value to all our stakeholders.

With our acquisition of Western Refining, we have approximately 1.2 million barrels of refining capacity, 13,000 employees, more than 3,000 retail locations, an extensive logistics system, a track record of performance and a solid platform for growth for years to come. We believe our transformation is an opportunity to redefine ourselves in a way that captures the spirit of how far we've come and what we still hope to achieve.

We hope that you come to see Andeavor as a sign of our aspiration to make our company better in every way.

At Andeavor, we rely on our Vision, Strategic Priorities and Guiding Principles to inform the way we conduct business. We set high expectations for employees at every level, and this helps us to operate as a trusted and valued business partner, a good corporate citizen and a successful Company.

Vision

Every day we create a safer and cleaner future as efficient providers of reliable transportation fuel solutions.

Strategic Priorities

• Improving operational efficiency and effectiveness with a focus on:

       - Safety and reliability

       - Cost leadership

       - Business improvements

• Driving optimization of our integrated value chain
• Exercising financial discipline
• Delivering value-driven growth
• Creating a high-performing culture

Guiding Principles

• Core Values – We act individually and collectively with the highest level of integrity and we are steadfast in our commitment to safety, health and the environment.
• Exceptional People – We employ the best people and develop our capabilities and leadership to realize our objectives.
• Shared Purpose – Everyone clearly understands and owns our Vision, strategy, how they fit and what they are expected to contribute.
• Powerful Collaboration – We leverage the power of collaboration and our individual and collective expertise to create value and competitive advantage.
• Superior Execution – We pursue and deliver our objectives with energy, passion and a sense of urgency to deliver industry-leading results.