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Q2 2018 Investor Presentation Global Partners LP (NYSE: GLP) Forward-Looking Statements Certain statements and information in this presentation may constitute forward -looking statements. The words believe, expect,

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Q2 2018 Investor Presentation

Global Partners LP (NYSE: GLP)

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Forward-Looking Statements

Certain statements and information in this presentation may constitute “forward-looking statements.” The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on Global Partners’current expectations and beliefs concerning future developments and their potential effect on the Partnership. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Partnership will be those that it anticipates. All comments concerning the Partnership’s expectations for future revenues and operating results are based on forecasts for its existing operations and do not include the potential impact of any future acquisitions. Forward- looking statements involve significant risks and uncertainties (some of which are beyond the Partnership’s control) and assumptions that could cause actual results to differ materially from the Partnership’s historical experience and present expectations or projections. For additional information regarding known material factors that could cause actual results to differ from thePartnership’s projected results, please see Global Partners’filings with the SEC, including itsAnnual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The Partnership undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events orotherwise.

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Use of Non-GAAP Financial Measures

This presentation contains non-GAAP financial measures relating to Global Partners. A reconciliation of these measures to the most directly comparable GAAP measures is available in the Appendix to this

presentation. For additional detail regarding selected items impacting comparability, please visit the Investor Relations section of Global Partners’ website at www.globalp.com.

Product Margin Global Partners views product margin as an important performance measure of the core profitability of its operations. The Partnership reviews product margin monthly for consistency and trend analysis. Global Partners defines product margin as product sales minus product costs. Product sales primarily include sales of unbranded and branded gasoline, distillates, residual oil, renewable fuels, crude oil and propane, as well as convenience store sales, gasoline station rental income and revenue generated from logistics activities when the Partnership engages in the storage, transloading and shipment of products

wned by others. Product costs include the cost of acquiring the refined petroleum products, renewable fuels, crude oil and propane and all associated costs including shipping and handling costs to bring such

products to the point of sale as well as product costs related to convenience store items and costs associated with logistics activities. The Partnership also looks at product margin on a per unit basis (product margin divided by volume). Product margin is a non GAAP financial measure used by management and external users of the Partnership’s consolidated financial statements to assess its business. Product margin should not be considered an alternative to net income, operating income, cash flow from operations, or any other measure of financial performance presented in accordance with GAAP. In addition, product margin may not be comparable to product margin or a similarly titled measure of other companies. EBITDA and Adjusted EBITDA EBITDA and Adjusted EBITDA are non-GAAP financial measures used as supplemental financial measures by management and may be used by external users of Global Partners’ consolidated financial statements, such as investors, commercial banks and research analysts, to assess the Partnership’s:

compliance with certain financial covenants included in its debt agreements;
financial performance without regard to financing methods, capital structure, income taxes or historical cost basis;
ability to generate cash sufficient to pay interest on its indebtedness and to make distributions to its partners;
perating performance and return on invested capital as compared to those of other companies in the wholesale, marketing, storing and distribution of refined petroleum products, renewable fuels, crude
il and propane, and in the gasoline stations and convenience stores business, without regard to financing methods and capital structure; and
viability of acquisitions and capital expenditure projects and the overall rates of return of alternative investment opportunities.

Adjusted EBITDA is EBITDA further adjusted for gains or losses on the sale and disposition of assets and goodwill and long-lived asset impairment charges. EBITDA and Adjusted EBITDA should not be considered as alternatives to net income, operating income, cash flow from operating activities or any other measure of financial performance or liquidity presented in accordance with GAAP. EBITDA and Adjusted EBITDA exclude some, but not all, items that affect net income, and these measures may vary among other companies. Therefore, EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures of other companies. Distributable Cash Flow Distributable cash flow is an important non-GAAP financial measure for the Partnership’s limited partners since it serves as an indicator of success in providing a cash return on their investment. Distributable cash flow as defined by the Partnership’s partnership agreement is net income plus depreciation and amortization minus maintenance capital expenditures, as well as adjustments to eliminate items approved by the audit committee of the board of directors of the Partnership’s general partner that are extraordinary or non-recurring in nature and that would otherwise increase distributable cash flow. Distributable cash flow as used in the Partnership’s partnership agreement also determines its ability to make cash distributions on incentive distribution rights. The investment community also uses a distributable cash flow metric similar to the metric used in the partnership agreement with respect to publicly traded partnerships to indicate whether or not such partnerships have generated sufficient earnings on a current or historic level that can sustain distributions on preferred or common units or support an increase in quarterly cash distributions on common units. The partnership agreement does not permit adjustments for certain non-cash items, such as net losses on the sale and disposition of assets and goodwill and long-lived asset impairment charges. Distributable cash flow should not be considered as an alternative to net income, operating income, cash flow from

perations, or any other measure of financial performance presented in accordance with GAAP. In addition, distributable cash flow may not be comparable to distributable cash flow or similarly titled measures of
ther companies.

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Global Partners at a Glance

Master limited partnership engaged in midstream logistics and marketing
Leading wholesale distributor of petroleum products
One of the largest independent owners, suppliers and operators of gasoline stations and

convenience stores in the Northeast

One of the largest terminal networks of petroleum products and renewable fuels in the Northeast

Retail Locations Northeast Terminal Locations*

*As of6/30/2018 4

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Investment Highlights 1

Successful history of acquiring, integrating and operating terminal and retail fuel assets

2 3

Vertically integrated business model drives volume and margin enhancement Operational expertise and scale enable us to realize significant

perational synergies and cost benefits

Solid balance sheet and DCF coverage

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Global’s DNA and Strategy

Integrated Marketing Wholesale Distribution C-Store Operations Origin and Transportation Delivery and Storage Retail Sourcing and Logistics

Vertical Integration

We operate a uniquely integrated refined products distribution system through our terminal network, wholesale market presence and large portfolio of retail gasoline stations This integrated model drives product margin along each step of the value chain

SLIDE 7

Global by the Numbers

25 Petroleum Bulk Product Terminals 10.8 Million Barrels of Storage Capacity ~300K Barrels of Product Sold Daily ~1,500 Gas Stations Owned, Leased or Supplied* 256 Company-operated Convenience Stores*

As of June 30, 2018

* Excludes the third-quarter 2018 acquisitions of Champlain and Cheshire, which added approximately 136 gas stations, including 47 company-operated sites.

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Key Role in Northeast Energy Infrastructure

Gasoline* Diesel fuel Heating

TTM as of 6/30/2018 *Total gasoline volumesold

804K 19K

Automobile tanks filled/day Diesel trucks filled/day

35K

Homes heated/day in winter

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Key Acquisitions and Investments

Acquired 3 terminalsfrom ExxonMobil Acquired 2 terminals from ExxonMobil Organic terminal projects in Albany, NY Oyster Bay, NY Philadelphia Albany ethanol expansion project with CP Acquired Mobil stations Contracted to supply 150M gallons to Mobil distributors Acquired Alliance Energy GettyRealty Agreement Acquired Basin Transload Global Albany rail expansion

Acquired CPBR Facility

Acquired Boston Harbor Terminal Acquired NY/DC retail portfoliofrom Capitol Petroleum Added 22 leased retail sites in Western,Mass. Acquired Honey Farms, Inc. Completed Port of Acquired Providence terminal Warex project terminals

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 ~$2.0 Billion in Acquisitions and Investments

Acquired Warren Equities Acquired retail gas and c-store assets from Champlain Oil Co. Acquired retail gas and c-store assets from Cheshire Oil Co.

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Creating Value Through Growth Initiatives and Optimization

Recent Growth Initiatives

Acquired retail fuel and c-store assets of Cheshire Oil Company
10 Company-operated sites with fuel and T-Bird branded c-stores
Transaction closed in Q3 2018 and expected to be accretive in first full year of operations

Asset Optimization

Ongoing divestiture of non-strategic retail sites
Supply agreements retained at majority of sold sites
Acquired retail fuel and c-store assets of Champlain Oil Company
37 Company-operated sites with fuel and Jiffy Mart-branded c-stores
24 owned or leased fuel sites; fuel supply agreements for ~65 gas stations
Transaction closed in Q3 2018 and expected to be accretive in first full year of operations

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Business Overview

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Business Overview

Bulk purchase, movement,

storage and sale of:

– Gasoline and gasoline blendstocks – Other oils and related products – Crude oil

Customers

– Branded and unbranded gasoline distributors – Home heating oil retailers and wholesale distributors – Refiners

Commercial Wholesale

Sales and deliveries to end

user customers of:

– Unbranded gasoline – Heating oil, kerosene, diesel and residual fuel – Bunker fuel

Customers

– Government agencies – States, towns, municipalities – Large commercial clients – Shipping companies

Gasoline Distribution & Station Operations

Retail gasoline sales

– Branded and unbranded

Rental income from:

– Dealers – Commissioned agents – Co-branding arrangements

Sales to retail customers of:

– Convenience store items – Car wash services – Fresh-made and prepared foods

Alltown, Jiffy Mart, T-Bird and

Xtra Mart stores

Customers

– Station operators – Gasolinejobbers – Retail customers

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Wholesale Segment

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Global has 9.8 million bbls of terminal capacity in the Northeast (as of 6/30/2018)

Wholesale Terminals – Northeast

1 Based on terminal capacity (bbls in 000s)

Source: OPIS/Stalsby Petroleum Terminal Encyclopedia, 2015 and Company data

Location

Estimated market share1

Est. market capacity

GLPcapacity GLP % oftotal Newburgh, NY 2,847 1,385 49% Western Long Island,NY 776 554 71% Boston Harbor, MA 9,995 2,782 28% Vermont 427 419 98% Providence, RI 4,631 480 10% Albany/Rensselaer, NY 9,387 1,402 15%

Key to Terminal Type Distillate Ethanol Gasoline/Distillate/Ethanol Residual/Distillate Residual/Distillate/Biofuel Distillate/Biofuel Gasoline/Distillate/Ethanol/Crude Propane/Butane Crude

Newburgh, NY: 429K bbls Albany, NY: 1,402K bbls Newburgh-Warex, NY: 956K bbls Commander/Oyster Bay, NY: 134K bbls Port of Providence, RI: 480K bbls Sandwich, MA: 99K bbls Chelsea, MA: 685K bbls Revere, MA: 2,097K bbls Portland, ME: 665K bbls Inwood, NY: 322K bbls Glenwood Landing, NY: 98K bbls Bridgeport, CT: 110K bbls Macungie, PA: 170K bbls Staten Island, NY: 287K bbls Philadelphia, PA: 304K bbls Bayonne, NJ: 371Kbbls Burlington, VT: 419Kbbls Wethersfield, CT: 183K bbls Springfield, MA: 54K bbls Albany, NY: 24Kbbls

Location

Est. market capacity

GLP capacity GLP % of total

Carteret, NJ: 572K bbls

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Ethanol Transloading in Oregon

200,000 bbls of storage capacity
Dock capable of handling Panamax-

class vessels

Expansion capabilities

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Gasoline Distribution & Station Operations Segment (GDSO)

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One of the Largest Operators of Gasoline Stations and Convenience Stores in the Northeast

Large gasoline station and C-store portfolio

– Supply ~1,500 locations* in 11states

Own or control ~750 sites;approximately

40% owned – Brands include Mobil, CITGO, Shell, Gulf and Sunoco

New-to-industry and organic projects

– Retail site development and expansion – Merchandising and rebranding – Co-branding initiatives

Champlain and Cheshire acquisitions – Q318

– Expand retail portfolio and geographic footprint in New England – Provide additional volume to strategically located terminals in New York and Vermont – Benefit from operational synergies and economies of scale in the purchase of fuel and c-store merchandise

Site Type (as of 6/30/2018) Total

CompanyOperated 256 CommissionedAgents 264 Dealer Leased 226 TOTAL 746 Dealer Contracts 699 TOTAL 1,445*

* Excludes the third-quarter 2018 acquisitions of Champlain and Cheshire, which added approximately 136 gas stations, including 47 company-operated sites.

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GDSO Segment Competitive Strengths

Annuity business: Rental income from

Dealer Leased and CommissionedAgents

Vertical integration: Integration between

supply, terminaling and wholesale businesses and gas station sites

Scale: ~1,500 sites* with volume of 1.6

billion gallons**

StrategicAdvantages

Preeminent locations: Portfolio of “best-in-

class” sites in Northeast and Mid-Atlantic

Diversification: Flexible diversity of mode of
peration, site geography and site brand

Multiple Brands

1 Includes Champlain

and Cheshire sites * Excludes the third-quarter 2018 acquisitions of Champlain and Cheshire, which added approximately 136 gas stations, including 47 company-operated sites. ** TTM 6/30/2018 NY 23% CT 21% NH 7% VT 7% PA 6% NH 7%

Portfolio Percentage of Sites by State

MA 25% NY 23% CT 21% VT 7% PA 6% MD 4% RI 4%% ME 2% NJ, VA <1%

SLIDE 19

Q4 2017

Expanded presence in Worcester,
Mass. region
11 company-operated sites with

fuel and convenience stores

22 company-operated stand-alone

convenience stories

Expected to be accretive in the

first full year of operations

Track Record of Acquisitive Growth

Q2 2016

Expanded presence in Western

Massachusetts through long-term leases for gas stations and c- stores

Shell and Mobil fuel brands

Q2 2015

Added Mobil- and Exxon-branded
wned and leased retail gas

stations, as well as dealer supply contracts in NYC and MD

Expanded Global’s presence in

two attractive markets

Capitol Petroleum Group Expanded Portfolio in Western Mass Honey Farms, Inc.

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r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t M e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a d d d d d d d d d d d d d d d d d d d d d d d d d d d

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n n n n n n n n n n n n n n n n n n n n n n n n n n n n g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B e e e e e e e a a a a a a a c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c h h h h h h h h h h h h h h h h h h h h h h h h h h h h h h h h h O O c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c e e e e e e e e a a a a a a a n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i d d d d d d d d d d d d d d d d d d d d d d d d d d d d d d d d d d d d d e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l e l l l l l l l e e e e e y y y y y y S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r e e e e e e e e a a a a a a a a m 6 7 8 N E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E E W Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y O R R K K K K K K K 8 C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C0 l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l i i i i i i i l l l l l l l i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f t t t t t t t f f f f f f f t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t t

n n n n n n n n n n n n n n n n n n n n n n n n n n n 95 B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l

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a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c 270

Warren Equities

Q1 2015

Strengthened footprint across 10

states in the Northeast with the majority of its stores primarily concentrated in MA, CT and NY

Expanded scale while

providing significant operational synergies and strategicoptions

SLIDE 20

Q318 Acquisitions – Champlain Oil and Cheshire Oil

Acquired 126 stations

– 37 company-operated gas stations and Jiffy Mart-branded convenience stores in Vermont and New Hampshire – 24 owned or leased fuel sites, including lessee dealer and commission agent locations – Fuel supply agreements for ~65 gas stations, primarily in Vt. And N.H. – Purchase price $134 million, excluding inventory – Expected to be accretive in first full year of

perations

Champlain Oil Cheshire Oil

Acquired 10 company-operated gas

stations and T-Bird-branded convenience stores

– Nine stores in N.H.; one in Brattleboro, Vt. – Purchase price $32 million, excluding inventory – Expected to be accretive in first full year of

perations

SLIDE 21

GDSO Segment - Growth Through Organic and M&A Initiatives

Organic Projects:

Raze and rebuilds
New-to-industry sites

Real Estate Strategy:

Optimize real-estate portfolio through asset sales
Convert mode of operation of certain stations to

maximize value

Merchandising Focus:

Store mix
Vendor relationships and related buying power
Co-branding alliances

M&A:

Transactions that provide strategic and operational

advantages

SLIDE 22

Commercial Segment

SLIDE 23

Commercial Segment Overview

Delivered fuels business – commercial and industrial customers as well as federal

agencies, states, towns and municipalities

– Through competitive bidding process or through contracts of variousterms

Bunkering – marine vessel fueling

– Custom blending and delivered by barge or from a terminal dock toships

SLIDE 24

Financial Summary

SLIDE 25

Recent Highlights

Completed Series A Preferred Unit Offering on 8/7/2018
Issued 2,760,000 9.75% Series A Fixed-to-Floating Rate Cumulative Redeemable

Perpetual Preferred Units at $25 Per Unit ▪ Included 360,000 Series A Preferred Units purchased pursuant to the full exercise of the underwriters’ over-allotment option

Offering resulted in net proceeds of $66.8 million which was used to reduce

indebtedness under our credit agreement

Closed on the acquisitions of Champlain and Cheshire Oil
Combined purchase price of ~$166 million
Increased Quarterly Cash Distribution for Q2 2018
Distribution raised by 2.7% to $0.4750 per unit per unit ($1.90 per unit annualized)
n all outstanding common units for the period April 1 to June 30, 2018

Positions us to take advantage of future acquisitions/organic expansion projects

SLIDE 26

Q2 2018 Financial Performance

*Please refer to Appendix for reconciliation of non-GAAP items

$122.5 $31.2 $4.1 $125.6 $38.5 $5.8 GDSO Wholesale Commercial Q2’17 Q2’18 Q2’17 Q2’18 Q2’17 Q2’18

Q2 Product Margin by Segment

($ in millions) Commercial 3% Wholesale 23% GDSO 74%

Wholesale Distillates, Residual and Other 6%

Wholesale Gasoline 14%

Gasoline Distribution 45% C-Store & Third-party Rent 29%

$169.9M

Wholesale Crude 3%

Q2 2018 Product Margin

($ in millions)

Q2 2018 Q2 2017 Product margin* $169.9 $157.8 Gross profit $149.3 $135.4 Net income attributable to GLP $6.4 $2.4 EBITDA* $53.1 $51.3 Adjusted EBITDA* $56.1 $53.7 Maintenance capex $11.2 $7.3 DCF* $21.0 $21.8 Q2 2018 vs. Q2 2017 Drivers

Favorable variance Unfavorable variance

More favorable market conditions in gasoline in the Wholesale segment Higher SG&A expenses in part to support GDSO business Contributions from Honey Farms portfolio Lower fuel margins Increase in bunkering activity

SLIDE 27

Volume and Margin

Consistency

– Driving cars & trucks – Heating buildings and homes – Term contracts – Rental income and C-Store sales

Variability

– Market and economic conditions – Weather – Seasonality

* Retail excludes C-store margin and rent

Product Margin (cents per gallon) Station Operations Margin ($M)

4.6 4.0 3.7 4.7 5.0 4.5 6.1 6.6 9.5 12.3 12.5 14.1 13.6 12.8 14.6 14.3 18.4 18.3 18.2 20.6 20.0

5 10 15 20

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 TTM 6/30/18

Total CPG Retail CPG* $0.0 $50.0 $100.0 $150.0 $200.0

2013 2014 2015 2016 2017 TTM 6/30/2018

Rent C-Store & Sundry

$78.8 $93.9 $178.5 $183.7 $175.0 $185.1 27

SLIDE 28

Balance Sheet Overview

Total Committed Facility: $1.3B

$850M working capital revolver
$450M acquisition/general corporate purpose revolver
Credit Agreement matures4/30/2020

Balance Sheet Highlights as of June 30, 2018

Tangible and liquid with receivables and inventory comprising 33% of totalassets
Receivables diversified over a large customer base and turn within 10 to 20 days; write-offs have

averaged 0.01% of sales per year over the past five years

Inventory represents about 10 to 20 days of sales
Remaining assets are comprised primarily of $1.0B of conservatively valued fixed assets (strategically

located, non-replicable terminals and gas stations)

$298M (26%) of total debt at 6/30 related to inventory financing

– Borrowed under working capital facility

$848M (74%) of total debt at 6/30 related to:

– Terminal operating infrastructure – Acquisitions and capital expenditures

Issued $375M 6.25% senior notes due 2022 and $300M 7.00% senior notes due 2023
Combined Total Leverage Ratio approximately 4.1x(1)

(1)Combined Total Leverage Ratio (Funded Debt/EBITDA) as defined under the Partnership’s CreditAgreement.

SLIDE 29

Appendix

SLIDE 30

Financial Reconciliations: Product Margin

(In thousands) (Unaudited) Reconciliation of gross profit to product margin Wholesale segment: Gasoline and gasoline blendstocks (1) $ 43,147 $ 71,713 $ 66,031 $ 83,742 $ 82,124 $ 18,608 $ 23,450 $ 96,968 Crude oil 92,807 141,965 74,182 (13,098) 7,279 4,761 5,418 6,117 Other oils and related products 66,916 79,376 67,709 74,271 62,799 7,828 9,615 51,400 Total (1) 202,870 293,054 207,922 144,915 152,202 31,197 38,483 154,485 Gasoline Distribution and Station Operations segment: Gasoline distribution 150,147 189,439 276,848 289,420 326,536 79,283 76,954 327,197 Station operations 78,833 93,939 178,487 183,708 174,986 43,242 48,680 185,063 Total 228,980 283,378 455,335 473,128 501,522 122,525 125,634 512,260 Commercial segment 28,359 29,716 29,201 24,018 17,858 4,124 5,809 20,591 Combined product margin (1) 460,209 606,148 692,458 642,061 671,582 157,846 169,926 687,336 Depreciation allocated to cost of sales (55,653) (61,361) (94,789) (95,571) (88,530) (22,484) (20,665) (86,082) Gross profit (1) $ 404,556 $ 544,787 $ 597,669 $ 546,490 $ 583,052 $ 135,362 $ 149,261 $ 601,254 (1) Results for the year ended December 31, 2013 include a non-cash adjustment of ($19.3 million) related to the Partnership's RIN RVO and loss on fixed forward commitments. Trailing Twelve Months Ended June 30 2017 2018 2018 Three Months Ended June 30 Year Ended December 31, 2015 2013 2014 2017 2016

SLIDE 31

Financial Reconciliations: EBITDA and Adjusted EBITDA

(In thousands) (Unaudited) Reconciliation of net income (loss) to EBITDA Net income (loss) (1) $ 41,053 $ 116,980 $ 43,264 $ (238,623) $ 57,117 $ 1,991 $ 6,022 Net loss (income) attributable to noncontrolling interest 1,562 (2,271) 299 39,211 1,635 383 391 Net income (loss) attributable to Global Partners LP (1) 42,615 114,709 43,563 (199,412) 58,752 2,374 6,413 Depreciation and amortization, excluding the impact of noncontrolling interest 70,423 78,888 110,670 108,189 103,601 26,036 25,054 Interest expense, excluding the impact of noncontrolling interest 43,537 47,719 73,329 86,319 86,230 21,923 21,613 Income tax expense (benefit) 819 963 (1,873) 53 (23,563) 959 (16) EBITDA (1) 157,394 242,279 225,689 (4,851) 225,020 51,292 53,064 Net (gain) loss on sale and disposition of assets (1,273) 2,182 2,097 20,495 (1,624) 2,381 3,033 Goodwill and long-lived asset impairment

149,972

809

Goodwill and long-lived asset impairment attributable to noncontrolling interest
(35,834)
Adjusted EBITDA

$ 156,121 $ 244,461 $ 227,786 $ 129,782 $ 224,205 $ 53,673 $ 56,097 Reconciliation of net cash provided by (used in) operating activities to EBITDA Net cash provided by (used in) operating activities (1) $ 255,147 $ 344,902 $ 62,506 $ (119,886) $ 348,442 $ 92,362 $ 87,488 Net changes in operating assets and liabilities and certain non-cash items (136,960) (141,558) 96,609 (6,795) (185,673) (63,822) (56,124) Net cash from operating activities and changes in operating assets and liabilities attributable to noncontrolling interest (5,149) (9,747) (4,882) 35,458 (416) (130) 103 Interest expense, excluding the impact of noncontrolling interest 43,537 47,719 73,329 86,319 86,230 21,923 21,613 Income tax expense (benefit) 819 963 (1,873) 53 (23,563) 959 (16) EBITDA (1) 157,394 242,279 225,689 (4,851) 225,020 51,292 53,064 Net (gain) loss on sale and disposition of assets (1,273) 2,182 2,097 20,495 (1,624) 2,381 3,033 Goodwill and long-lived asset impairment

149,972

809

Goodwill and long-lived asset impairment attributable to noncontrolling interest
(35,834)
Adjusted EBITDA

$ 156,121 $ 244,461 $ 227,786 $ 129,782 $ 224,205 $ 53,673 $ 56,097 (1) Results for the year ended December 31, 2013 include a non-cash adjustment of ($19.3 million) related to the Partnership's RIN RVO and loss on fixed forward commitments. (2) 2015 2013 Year Ended December 31, In December 2016, the Partnership voluntarily terminated early a sublease for 1,610 railcars and, as a result, recorded lease exit and termination expenses of $80.7 million for the twelve months ended December 31, 2016. Excluding these expenses, Adjusted EBITDA would have been $210.4 million for the twelve months ended December 31, 2016. 2014 2017 2016 (2) 2017 2018 June 30, Three Months Ended

SLIDE 32

Financial Reconciliations: DCF

(In thousands) (Unaudited) Reconciliation of net income (loss) to distributable cash flow Net income (loss) (1) $ 41,053 $ 116,980 $ 43,264 $ (238,623) $ 57,117 $ 1,991 $ 6,022 Net loss (income) attributable to noncontrolling interest 1,562 (2,271) 299 39,211 1,635 383 391 Net income (loss) attributable to Global Partners LP (1) 42,615 114,709 43,563 (199,412) 58,752 2,374 6,413 Depreciation and amortization, excluding the impact of noncontrolling interest 70,423 78,888 110,670 108,189 103,601 26,036 25,054 Amortization of deferred financing fees and senior notes discount 7,265 6,186 6,988 7,412 7,089 1,780 1,717 Amortization of routine bank refinancing fees (4,072) (4,444) (4,516) (4,580) (4,277) (1,063) (1,022) Non-cash tax reform benefit

(22,183)
Maintenance capital expenditures, excluding the impact of noncontrolling interest

(10,977) (34,115) (29,850) (32,989) (34,718) (7,338) (11,162) Distributable cash flow (2) $ 105,254 $ 161,224 $ 126,855 $ (121,380) $ 108,264 $ 21,789 $ 21,000 Reconciliation of net cash provided by (used in) operating activities to distributable cash flow Net cash provided by (used in) operating activities (1) $ 255,147 $ 344,902 $ 62,506 $ (119,886) $ 348,442 $ 92,362 $ 87,488 Net changes in operating assets and liabilities and certain non-cash items (136,960) (141,558) 96,609 (6,795) (185,673) (63,822) (56,124) Net cash from operating activities and changes in operating assets and liabilities attributable to noncontrolling interest (5,149) (9,747) (4,882) 35,458 (416) (130) 103 Amortization of deferred financing fees and senior notes discount 7,265 6,186 6,988 7,412 7,089 1,780 1,717 Amortization of routine bank refinancing fees (4,072) (4,444) (4,516) (4,580) (4,277) (1,063) (1,022) Non-cash tax reform benefit

(22,183)
Maintenance capital expenditures, excluding the impact of noncontrolling interest

(10,977) (34,115) (29,850) (32,989) (34,718) (7,338) (11,162) Distributable cash flow (2) $ 105,254 $ 161,224 $ 126,855 $ (121,380) $ 108,264 $ 21,789 $ 21,000 (1) Results for the year ended December 31, 2013 include a non-cash adjustment of ($19.3 million) related to the Partnership's RIN RVO and loss on fixed forward commitments. (2) (3) (4) 2017 (4) Distributable cash flow for 2017 includes a net loss on sale and disposition of assets of $12.5 million and a net goodwill and long-lived asset impairment of $0.8 million. Excluding these charges, distributable cash flow would have been $121.6 million for 2017. Distributable cash flow also includes a $14.2 million gain on the sale of the Partnership's natural gas marketing and electricity brokerage businesses in February 2017. Year Ended December 31, As defined by the Partnership's partnership agreement, distributable cash flow is not adjusted for certain non-cash items, such as net losses on the sale and disposition of assets and goodwill and long- lived asset impairment charges. Distributable cash flow for 2016 includes a net loss on sale and disposition of assets of $20.5 million and lease exit and termination expenses of $80.7 million. Distributable cash flow also includes a net goodwill and long-lived asset impairment of $114.1 million ($149.9 million attributed to the Partnership, offset by $35.8 million attributed to the noncontrolling interest). Excluding these charges, distributable cash flow would have been $93.9 million for 2016. 2016 (3) 2013 2015 2017 2018 June 30, Three Months Ended 2014

SLIDE 33

Balance Sheet at June 30, 2018

(In thousands) (Unaudited) Assets Current assets: Cash and cash equivalents $ 7,482 Accounts receivable, net 423,225 Accounts receivable - affiliates 4,057 Inventories 338,320 Brokerage margin deposits 6,871 Derivative assets 12,805 Prepaid expenses and other current assets 85,117 Total current assets 877,877 Property and equipment, net 1,005,929 Intangible assets, net 51,459 Goodwill 310,855 Other assets 32,837 Total assets $ 2,278,957 Liabilities and partners' equity Current liabilities: Accounts payable $ 256,768 Working capital revolving credit facility - current portion 198,000 Environmental liabilities - current portion 5,004 Trustee taxes payable 43,699 Accrued expenses and other current liabilities 89,789 Derivative liabilities 14,764 Total current liabilities 608,024 Working capital revolving credit facility - less current portion 100,000 Revolving credit facility 185,000 Senior notes 663,116 Environmental liabilities - less current portion 50,333 Financing obligations 150,223 Deferred tax liabilities 38,607 Other long-term liabilities 53,672 Total liabilities 1,848,975 Partners' equity Global Partners LP equity 427,375 Noncontrolling interest 2,607 Total partners' equity 429,982 Total liabilities and partners' equity $ 2,278,957