Company Overview - Par Pacific Holdings, Inc. is a growing energy company headquartered in Houston, Texas, providing both renewable and conventional fuels to the western United States [6] - The company owns and operates 219,000 barrels per day (bpd) of combined refining capacity across four locations in Hawaii, the Pacific Northwest, and the Rockies [6] - Par Pacific has an extensive energy infrastructure network, including 13 million barrels of storage and various transportation assets such as marine, rail, rack, and pipeline [6] - The company operates the Hele retail brand in Hawaii and the "nomnom" convenience store chain in the Pacific Northwest [6] - Par Pacific also owns 46% of Laramie Energy, LLC, a natural gas production company focused on operations and assets in Western Colorado [6] Upcoming Financial Events - Par Pacific will release its second quarter 2024 results after the New York Stock Exchange closes on August 6, 2024 [4] - A conference call for investors is scheduled for August 7, 2024, at 9:00 a.m. Central Time (10:00 a.m. Eastern) [4] - The full text of the earnings release will be available on Par Pacific's website [4][5]

Par Pacific Holdings, Inc. (NYSE:PARR), headquartered in Houston, Texas, is a growing energy company providing both renewable and conventional fuels to the western United States. Par Pacific owns and operates 219,000 bpd of combined refining capacity across four locations in Hawaii, the Pacific Northwest and the Rockies, and an extensive energy infrastructure network, including 13 million barrels of storage, and marine, rail, rack, and pipeline assets. In addition, Par Pacific operates the Hele retail brand ...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ________________________________________________________________________________________________________________________ FORM 10-Q ________________________________________________________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 ...

Financial Data and Key Metrics Changes - The first quarter adjusted EBITDA was $95 million, and adjusted net income was $0.69 per share [7][20] - The Refining segment reported adjusted EBITDA of $81 million compared to $107 million in the previous quarter [20] - Cash provided by operations totaled $83 million, excluding a $44 million working capital outflow [27] Business Line Data and Key Metrics Changes - The Logistics segment reported adjusted EBITDA of $28 million in the first quarter, up from $24 million in the previous quarter [25] - The Retail segment reported adjusted EBITDA of $14 million in the first quarter, down from $17 million in the previous quarter, with same-store fuel and merchandise sales growth of 6% and 5%, respectively [10][25] - Retail fuel margins softened due to rising wholesale prices [25] Market Data and Key Metrics Changes - In Hawaii, the Singapore Index averaged $18.67 per barrel, with a margin capture of 116% [21] - In Billings, the Gulf Coast Index averaged $21.34 per barrel, with margin capture at 65% [22] - In Wyoming, margin capture to the Gulf Coast Index was 70%, with improved gasoline spreads [23] - In Washington, the P&W Index averaged $20.48 per barrel, with margin capture at 30% [24] Company Strategy and Development Direction - The company is focused on safe and reliable operations, project execution, and capital allocation [13] - Renewable fuel initiatives are progressing, with a $90 million renewable hydrotreater project in Hawaii tracking on time and on budget [11] - The company is pivoting from larger SAF and green hydrogen projects to lower-capital, high-return opportunities [11] Management's Comments on Operating Environment and Future Outlook - Management noted that global product inventories are low, with limited supply-side support and elevated refined product freight costs [8][9] - The company expects to optimize throughput heading into the summer season, with specific throughput targets for each refinery [18] - Management expressed optimism about refined product cracks due to geopolitical factors affecting trade flows [34] Other Important Information - The company repurchased more than $70 million of its stock at attractive prices, with total liquidity of over $575 million [12][29] - The cost of debt capital was further reduced through refinancing activities, with annual interest expense lowered by $3 million [28] Q&A Session Summary Question: Insights on Asian markets and Hawaii margins - Management indicated that Singapore margins are influenced by Northwest Europe, with low inventories and high refining incentives expected as summer approaches [33][34] Question: Share repurchase strategy and cash allocation - The share repurchase strategy is opportunistic, driven by liquidity, share price, and fundamental value outlook [35][36] Question: Same-store retail performance attribution - The strong performance is attributed to both market positioning in Hawaii and efforts in retail, particularly with the nomnom brand [40] Question: M&A landscape and NOL position - The strategic focus remains on PADD IV and upper PADD V, with NOL valued at approximately $900 million, shielding taxable income [41][43] Question: Asia market outlook and Hawaii basis - Management expects continued product flow from Asia to Europe, with elevated freight costs impacting Hawaii's margins [50][55] Question: Renewable project pivot in Tacoma - The green hydrogen project has been deferred, with a focus on utilizing logistics assets for lower carbon fuels [59][61] Question: Upcoming maintenance in Montana - The maintenance will focus on optimizing operations and reliability, with plans to push rates post-turnaround [70] Question: Balance sheet liquidity targets - Minimum liquidity targets are dynamic, historically around $200 million, but currently higher due to expanded business [71] Question: Product strength across regions - Gasoline demand is strong in Hawaii and the Pacific Northwest, while diesel is weaker on the West Coast [74][77]

1 The information contained in this presentation has been prepared to assist you in making your own evaluation of the company and does not purport to contain all of the information you may consider important. Any estimates or projections with respect to future performance have been provided to assist you in your evaluation, but should not be relied upon as an accurate representation of future results. Certain statements, estimates and financial information contained in this presentation constitute forward-l ...

PAR PACIFIC HOLDINGS REPORTS FIRST QUARTER 2024 RESULTS HOUSTON, May 6, 2024 - Par Pacific Holdings, Inc. (NYSE: PARR) ("Par Pacific" or the "Company") today reported its financial results for the quarter ended March 31, 2024. Par Pacific reported a net loss of $(3.8) million, or $(0.06) per diluted share, for the quarter ended March 31, 2024, compared to net income of $237.9 million, or $3.90 per diluted share, for the same quarter in 2023. During the first quarter of 2023, the Company recorded a $94.7 mil ...

OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ________________________________________________________________________________________________________________________ FORM 10-K ________________________________________________________________________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR ...

Par Pacific 9 INVESTOR PRESENTATION I FEBRUARY 2024 Forward-Looking Statements / Disclaimers 1 The information contained in this presentation has been prepared to assist you in making your own evaluation of the company and does not purport to contain all of the information you may consider important. Any estimates or projections with respect to future performance have been provided to assist you in your evaluation, but should not be relied upon as an accurate representation of future results. Certain statem ...

NEWS RELEASE PAR PACIFIC REPORTS FOURTH QUARTER AND RECORD 2023 RESULTS HOUSTON, February 27, 2024 - Par Pacific Holdings, Inc. (NYSE: PARR) ("Par Pacific" or the "Company") today reported its financial results for the fourth quarter and twelve months ended December 31, 2023. Par Pacific reported net income of $728.6 million, or $11.94 per diluted share, for the twelve months ended December 31, 2023, compared to $364.2 million, or $6.08 per diluted share, for the twelve months ended December 31, 2022. Full ...