Manav Gupta

Matthew Blair

Ryan Todd

Jason Gabelman

Neil Mehta

Michael Laupheimer

Alejandra Magana

Alexa Petrick

John Royall

- **Par Pacific Holdings, Inc. (PARR)** announced the **successful closing of Hawaii Renewables, LLC** on **October 21, 2025**, a joint venture to construct a renewable fuels facility at its Kapolei, Hawaii refinery.  **[821483_0001437749-25-031441_ex_873634.htm:0]** **[821483_0001437749-25-031441_parr20251021_8k.htm:1]** 
- **Mitsubishi Corporation and ENEOS Corporation**, through Alohi Renewable Energy LLC, acquired a **36.5% equity stake** in Hawaii Renewables for **$100 million in cash consideration**.  **[821483_0001437749-25-031441_ex_873634.htm:0]** 
- Par Pacific retained the **remaining 63.5% interest** and will operate the facility through its affiliate, Par Hawaii Refining, LLC.  **[821483_0001437749-25-031441_ex_873634.htm:0]** **[821483_0001437749-25-031441_parr20251021_8k.htm:1]** 
- The facility is expected to be **completed by the end of 2025** and will produce approximately **61 million gallons per year** of renewable diesel, sustainable aviation fuel, renewable naphtha, and low carbon liquified petroleum gases.  **[821483_0001437749-25-031441_ex_873634.htm:0]** 
- Par Pacific has committed to making cash contributions of up to **$21,039,382** to complete the facility through its commercial operation date.  **[821483_0001437749-25-031441_parr20251021_8k.htm:1]**

Par Pacific Holdings, Inc. Announces Closing of Hawaii Renewables Joint Venture

- **Hawaii Renewables, LLC**, a subsidiary of Par Pacific Holdings, Inc., entered into a **Framework Agreement for Commodity Swap Transactions** with **Wells Fargo Bank, N.A.** on **October 2, 2025**.  **[821483_0001437749-25-030476_parr20251001_8k.htm:1]** 
- This agreement establishes a framework for **prepaid swaps** involving **soybean oil and crude oil**, with monthly execution and Wells Fargo prepaying a fixed amount to Hawaii Renewables.  **[821483_0001437749-25-030476_parr20251001_8k.htm:1]** 
- Supporting these transactions, Hawaii Renewables also executed an **ISDA 2002 Master Agreement Schedule**, a **Pledge and Security Agreement** granting Wells Fargo a security interest in certain commodity inventory and renewable feedstocks, and a **Credit Support Annex**.  **[821483_0001437749-25-030476_ex_865661.htm:0]** **[821483_0001437749-25-030476_ex_865659.htm:0]** **[821483_0001437749-25-030476_parr20251001_8k.htm:1]** 
- **Par Pacific Holdings, Inc.** provides an unsecured guaranty for Hawaii Renewables' obligations under these agreements.  **[821483_0001437749-25-030476_parr20251001_8k.htm:1]**

Par Pacific Holdings Subsidiary Enters Commodity Swap and Security Agreements with Wells Fargo

PAR PACIFIC HOLDINGS (PARR)