Page 1

GLOBAL NEWS RELEASE Global Partners Reports First - Quarter 2021 Financial Results 5/7/2021 WALTHAM , Mass .-- ( BUSINESS WIRE ) -- Global Partners LP ( NYSE : GLP ) , today reported financial results for the first quarter ended March 31 , 2021 . " With more than one - third of the U.S. now fully vaccinated against COVID - 19 , and a growing number of businesses reopening , the business landscape is improving and industrywide fuel demand is increasing , " said Eric Slifka , Global's President and Chief Executive Officer . " In the first quarter of 2021 our fuel volumes , though still off from the same period in 2020 , showed signs of rebounding from COVID lows , while retail fuel margins remained relatively strong despite a significant first - quarter spike in Wholesale gasoline prices , which were up more than 70 cents through mid - March . " In our Wholesale segment , product margin in the first quarter of 2021 was $ 25 million better than the same period a year earlier , " Slifka said . " The improvement was driven by more favorable market conditions , primarily in gasoline and other oils and related products , as well as colder temperatures . " Financial Highlights The net loss attributable to the Partnership was $ 4.3 million , or $ 0.20 per common limited partner unit , for the first quarter of 2021 compared with net income attributable to the Partnership of $ 3.3 million , or $ 0.05 per diluted common limited partner unit , for the same period of 2020 . Earnings before interest , taxes , depreciation and amortization ( EBITDA ) was $ 40.9 million in the first quarter of 2021 compared with $ 44.7 million in the comparable period of 2020 . 1