Gregg Brody

Jason Gabelman

Amit Dayal

Neil Mehta

Roger Read

Adam Alexander Wijaya

Alexa Petrick

Conor Fitzpatrick

Saumya Jain

- **Montana Renewables (MRL)**, an unrestricted subsidiary of Calumet, Inc., in collaboration with Calumet Montana Refining (CMR), has commissioned onsite blending and shipping facilities.  **[2013745_20251027DE07758:0]** 
- MRL will offer a **nominal 50/50 blend of renewable and fossil jet fuel**, certified under ASTM D7566 and ASTM D1655 specifications.  **[2013745_20251027DE07758:0]** 
- This **MaxSAF™ blended fuel** is drop-in compatible and will initially be distributed through AEG Fuels' network to select aviation hubs in Montana, Washington, and Oregon.  **[2013745_20251027DE07758:0]** 
- MRL is one of only three Sustainable Aviation Fuel (SAF) producers operating at commercial scale in North America.  **[2013745_20251027DE07758:0]**

Calumet's Montana Renewables Launches MaxSAF™ Blended Fuel

- **Calumet, Inc. (NASDAQ: CLMT)** announced on August 26, 2025, that the U.S. Environmental Protection Agency (EPA) notified the company on August 22, 2025, of successful full or partial exemptions for all small refinery exemption petitions filed from **2019 through 2024**.  **[2013745_20250826DE58958:0]** 
- This decision is expected to reduce Calumet's prior **2019-2024 Renewable Identification Number (RIN) balance sheet accrued liability** from **396 million RINs** to **89 million RINs**.  **[2013745_20250826DE58958:0]** 
- The remaining **89 million RINs** consist of **57 million** from the 2022 and 2023 vintage, and **32 million** from 2024.  **[2013745_20250826DE58958:0]** 
- CEO Todd Borgmann stated that the ruling removes the majority of Calumet's historic RIN obligation and provides clarity for the renewable fuels industry.  **[2013745_20250826DE58958:0]**

Calumet Provides Update on EPA Small Refinery Exemption Decision

Calumet, Inc. /DE (CLMT)