CST Brands, Inc. announced that the independent executive committee of its board of directors has approved a purchase program authorizing CST Brands and its subsidiaries to purchase up to an aggregate of $50 million of common units representing limited partner interests in CrossAmerica Partners LP (“CrossAmerica” or the “Partnership”).

“The CrossAmerica unit price presents an attractive investment yield and this plan reinforces CST’s continued support of CrossAmerica and is in recognition of the strength of the Partnership’s long term business strategies,” said Kim Lubel, Chairman and CEO of CST Brands.

CST Brands owns and controls the general partner of the Partnership. Under the program, purchases may be made in amounts, at prices and at such times as CST Brands or its subsidiaries deem appropriate, all subject to market conditions and other considerations. The purchases may be made in the open market in accordance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or in privately negotiated transactions, pursuant to a trading plan under Rule 10b5-1 of the Exchange Act or otherwise. Any purchases will be funded from available cash on hand. Such purchases will be made in such quantities, at such prices, in such manner and on such terms and conditions at management’s discretion, based on factors such as market and business conditions, applicable legal requirements and other factors. The common unit purchase program does not require CST Brands to acquire any specific number of CrossAmerica common units and may be modified, suspended, extended or terminated by CST Brands at any time without prior notice. The purchases will not be made from any officer, director or control person of CST Brands or CrossAmerica.

CST Brands does not intend for common unit purchases under the program to cause CrossAmerica’s common units to be delisted from the NYSE or cause the common units of CrossAmerica Partners LP to be deregistered with the Securities and Exchange Commission.

As of September 18, 2015, the Partnership had 33,144,683 total units outstanding (includes both common and subordinated units). CST Brands is the beneficial owner of 5,284,308 common units of CrossAmerica Partners LP, representing a 15.9% ownership interest in the outstanding limited partner interests of CrossAmerica Partners LP.