Par Pacific Announces 2025 Capital Expenditure Guidance

HOUSTON, Dec. 19, 2024 (GLOBE NEWSWIRE) — Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) today announced its 2025 capital expenditure and turnaround outlay guidance with a range of $210 million to $240 million.

1. Includes approximately $10 million in reliability investments.
2. Includes approximately $30-40 million to complete the Hawaii renewable hydrotreater project and $10 million in ERP system enhancements.

Management expects 2024 capital expenditures and turnaround outlays to come in at the low end of the $220 million to $250 million guidance range.

About Par Pacific

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 in Hawaii and the “nomnom” convenience store chain in the Pacific Northwest. Par Pacific also owns 46% of Laramie Energy, LLC, a natural gas production company with operations and assets concentrated in Western Colorado. More information is available at www.parpacific.com.

Forward-Looking Statements

This news release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to qualify for the “safe harbor” from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements include, without limitation, statements about Par Pacific’s anticipated 2025 capital expenditures and turnaround costs. We cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct. Should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements, and investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. We do not intend to update or revise any forward-looking statements made herein or any other forward-looking statements because of new information, future events or otherwise. We further expressly disclaim any written or oral statements made by a third party regarding the subject matter of this news release.

For more information contact:

Ashimi Patel
VP, Investor Relations and Sustainability
(832) 916-3355
apatel@parpacific.com