Amendment to Term Loan Credit Agreement and Pledge and Security Agreement

Par Pacific Holdings, Inc. (Par Pacific) has entered into Amendment No. 3 to its Term Loan Credit Agreement. This amendment, effective December 17, 2025, reduces the Applicable Margin by 50 basis points, resulting in new interest rates. Base rate loans will now bear interest at the applicable base rate plus 2.25%, and SOFR loans at 3.25%. The amendment also involves the prepayment of certain existing loans and the establishment of new Amendment No. 3 Loans. Additionally, Hawaii Renewables, LLC (HR), a joint venture of Par Pacific, entered into an Amended and Restated Pledge and Security Agreement with Wells Fargo Bank, N.A. on December 16, 2025. This agreement amends a prior pledge and security agreement to modify the scope of collateral securing HR's obligations under a Framework Agreement, an ISDA Agreement, and an Uncommitted LC Facility Agreement, which provides for up to $25,000,000 in documentary letters of credit for HR's use in securing oil supplies.