Calumet Specialty Products Partners (CLMT) Provides Business Update

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet" or the "Partnership") a leading independent producer of specialty hydrocarbon and fuels products, today provided the following business update in response to recent volatility in the global capital markets and the broader energy complex:

(1) Calumet is reaffirming its objective of providing all unitholders a stable-to-growing quarterly cash distribution, consistent with expectations for long-term growth in Adjusted EBITDA and Distributable Cash Flow ("DCF"). Today, Calumet declared a quarterly cash distribution of $0.685 per unit, or $2.74 per unit on an annualized basis, for the quarter ended December 31, 2015 on all of its outstanding limited partner units. This distribution level is consistent with the amount paid to unitholders in the previous quarter. The distribution will be paid on February 12, 2016 to unitholders of record as of the close of business on February 2, 2016.

(2) Affiliates of Calumet's privately-held general partner remain highly supportive of Calumet and its long-term strategic growth plan. As of January 18, 2016, affiliates of Calumet's general partner owned 22% of the limited partner units outstanding. The general partner's affiliates represent the single largest investor group in the limited partner units. The economic interests of both the general partner affiliates and the limited partners remain closely aligned, given the affiliates' continued, long-term investment in Calumet.

(3) Calumet currently anticipates a more than 60% decline in total capital expenditures on a year-over-year basis in 2016. Calumet currently anticipates total capital expenditures to range between $125 million and $150 million in 2016. This decrease in anticipated capital expenditures is due in part to the conclusion of a multi-year organic growth project campaign in late 2015. The Partnership believes it has sufficient liquidity from cash on hand and from operations, as well as availability under its $1 billion asset based revolving credit facility, subject to current market conditions, to fund general business requirements.

The Partnership will report results for the fourth quarter and full-year 2015 on February 17, 2016 before the market opens. A conference call is scheduled for 1:00 p.m. ET (12:00 p.m. CT) on February 17, 2016 to discuss the financial and operational results for the fourth quarter and full-year 2015. Investors, analysts and members of the media interested in listening to the live presentation may call (866) 584-9671. The telephonic replay is available by calling (404) 537-3406 and entering passcode 28567856. The replay will be available beginning February 17, 2016 until February 24, 2016. A webcast of the call and accompanying presentation slides will be available on the Partnership's website at http://www.calumetspecialty.com.

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