Par Pacific (PARR) Earnings Call Presentation

Company Overview - Par Pacific is a growing energy company focused on renewable and conventional fuels in the western United States[10] - The company has an integrated logistics network with 13 million barrels (MMbbls) of storage capacity[10] - Par Pacific's system-wide refining capacity is 219,000 barrels per day (bpd)[10, 19] - The company owns a 46% interest in Laramie Energy, a natural gas E&P company[10] - As of December 31, 2024, Par Pacific had approximately $1 billion in federal tax attributes[10] Refining Segment - Par Pacific's system-wide distillate & low sulfur fuel oil (LSFO) yield is 52%[22, 25] - The company has up to 20% system-wide exposure to Western Canadian Select (WCS) heavy crude[22] - The Hawaii refinery has a crude capacity of 94,000 bpd, Montana 63,000 bpd, Washington 42,000 bpd, and Wyoming 20,000 bpd[19] Retail & Logistics Segments - The Retail & Logistics segments' Adjusted EBITDA has been growing, reaching $81 million and $122 million respectively for the Last Twelve Months (LTM) ending March 31, 2025[39, 40] - The company has 87 retail locations in Hawaii and 32 in the Pacific Northwest[38] Capital Expenditure and Turnarounds - The company's 2024 actual capital expenditures were $209 million[44] - The company is executing approximately $90 million investment in Hawaii to produce renewable fuels[48] Financial Position - As of March 31, 2025, Par Pacific's total liquidity was $525 million[50] - As of March 31, 2025, the Term Debt / LTM Retail & Logistics Adjusted EBITDA ratio was 32x, with a target of 3-4x[55]