Par Pacific Holdings, Inc.

Net Income of $59.5 million, or $1.17 per diluted share Adjusted Net Income of $78.3 million, or $1.54 per diluted share Adjusted EBITDA of $137.8 million Repurchased $28 million of common stock at an average price of $17.36 per share during the second quarter Successful completion of the Montana turnaround Record Hawaii refining quarterly throughput of 88 mbpd Announced Hawaii Renewables joint venture with expected cash proceeds of $100 million Par Pacific reported net income of $59.5 million, or $1.17 per diluted share, for the quarter ended June 30, 2025, compared to $18.6 million, or $0.32 per diluted share, for the same quarter in 2024.

SEC original ↗Par Pacific Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Net cash used in investing activities totaled $(45.9) million for the three months ended June 30, 2025, consisting primarily of capital expenditures, compared to $(35.4) million for the three months ended June 30, 2024.

SEC original ↗Par Pacific Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

At June 30, 2025, Par Pacific s cash balance totaled $169.2 million and gross term debt was $640.7 million.

SEC original ↗Par Pacific Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Net term debt was $471.5 million at June 30, 2025.

SEC original ↗Par Pacific Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

The Company repurchased $28 million of common stock at a weighted average price of $17.36 per share during the second quarter of 2025.

SEC original ↗Par Pacific Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

(2) Term debt includes the Term Loan Credit Agreement and other long-term debt.

SEC original ↗Par Pacific Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

We advanced key strategic priorities, including completing the Montana turnaround and progressing construction of the Hawaii SAF project.

SEC original ↗Par Pacific Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

We also announced the Hawaii Renewables joint venture at an attractive implied valuation with strategic partners who bring strong commercial capabilities and expanded market access.

SEC original ↗Par Pacific Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements For the Interim Periods Ended June 30, 2026 and 2025 Note 4 Investment in Laramie Energy As of June 30, 2026, we owned a 46 % ownership interest in Laramie Energy, an entity focused on developing and producing natural gas in Garfield, Mesa, and Rio Blanco counties, Colorado.

SEC original ↗Par Pacific Holdings, Inc. — 10-Q Quarterly report10-QAug 5, 2026

Additionally, forward-looking statements are subject to certain risks, trends, and uncertainties, such as changes to our financial condition and liquidity the volatility of crude oil and refined product prices the Russia-Ukraine war, Israel-Palestine conflict, Houthi attacks in the Red Sea, Iranian activities in the Strait of Hormuz and their potential impacts on global crude oil markets and our business the impacts of tariffs potential operating disruptions at our refineries resulting from unplanned maintenance events or natural disasters environmental risks changes in the labor market and risks of political or regulatory changes.

SEC original ↗Par Pacific Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

2.1 Product Crack less Montana crude costs, less other costs of sales, including inflation-adjusted product delivery costs, yield loss expense, taxes and tariffs, and product discounts.

SEC original ↗Par Pacific Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Legal Proceedings 58 Item 1A.

SEC original ↗Par Pacific Holdings, Inc. — 10-Q Quarterly report10-QAug 5, 2026

Note 15 Commitments and Contingencies In the ordinary course of business, we are a party to various lawsuits and other contingent matters.

SEC original ↗Par Pacific Holdings, Inc. — 10-Q Quarterly report10-QAug 5, 2026

It is possible that an unfavorable outcome of one or more of these lawsuits or other contingencies could have a material impact on our financial condition, results of operations, or cash flows.

SEC original ↗Par Pacific Holdings, Inc. — 10-Q Quarterly report10-QAug 5, 2026