Par Pacific subsidiary enters $120M uncommitted credit facility; expandable to $350M

On the Closing Date and in connection with the consummation of the transactions contemplated by the Uncommitted Credit Agreement, PHR, Par Petroleum, as guarantor, and J. Aron & Company LLC (“ Aron ”) entered into an Amendment to Second Amended and Restated Supply and Offtake Agreement (the “ S&O Amendment ”).

On July 26, 2023 (the “ Closing Date ”), Par Hawaii Refining, LLC (“ PHR ”), a subsidiary of Par Pacific Holdings, Inc. (“ Par Pacific ”), as borrower, the lenders and letter of credit issuing banks party thereto (collectively, the “ Lenders ”), MUFG Bank, Ltd., as administrative agent (in such capacity, the “ LC Facility Agent ”), sub-collateral agent, joint lead arranger and sole bookrunner, Macquarie Bank Limited, as joint lead arranger, and U.S. Bank Trust Company, National Association, as collateral agent (the “ Collateral Agent ”), entered into an Uncommitted Credit Agreement (the “ Uncommitted Credit Agreement ”) whereby the Lenders agree, on an uncommitted and absolutely discretionary basis, to consider making revolving credit loans and issuing and participating in letters of credit for the account of PHR in the maximum available amount of $120,000,000 in the aggregate (the “ Uncommitted Facility ”).

On the Closing Date and in connection with the Uncommitted Credit Agreement, Par Petroleum, LLC (“ Par Petroleum ”), a subsidiary of Par Pacific and the direct parent of PHR, entered into a Parent Guaranty (the “ Par Petroleum Guaranty ”), pursuant to which, among other things, Par Petroleum irrevocably unconditionally guaranteed the due and punctual payment and performance of PHR’s obligations under the Uncommitted Credit Agreement.